Archive for October, 2011

Thomas Jefferson on Banking

Monday, October 10th, 2011

Thomas Jefferson

Thomas Jefferson is often called the 1-2-3 man since he was the first Secretary of State, the second vice president and our third president. We came across this quote that is attributed to him. It interesting that 185 years after his death, how meaningful and timely his words still are.

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.