The Fears of our Fathers
Our founding fathers, Madison, Jefferson, Franklin, et al, did not fear foreign conquest. They feared unchecked, unlimited power from within, in the form of people or corporations that could gain monolithic or monopolistic control over out government. In the past such seizures of government power generally came from generals or military commanders whose wealth and prestige enabled them to gain enough aristocratic support to be declared dictator, emperor, king. Czar, or whatever title they chose to claim. Only a few of the most visionary framers foresaw that unchecked or unrestrained economic power could be the road to serfdom and economic slavery. Jefferson, Franklin, Madison, and Paine were among them.
Jefferson said, “If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing [money creation] power should be taken from the banks and restored to the people, to whom it properly belongs.” – Thomas Jefferson, The Debate Over The Recharter Of The Bank Bill, (1809).
Jefferson also said that banks were more dangerous to the American people than “standing armies”. Today, who would think there was anything wrong with either banks or standing armies? What has changed us so? Could it be the persuasive power of money and banking itself? Could there be a public relations campaign, or even a campaign of propaganda to convince the public that both are now OK?
Who creates and controls our money today? Was there a reason Amschell Mayer Rothschild (the “Father” of modern banking) held that “as long as he controlled a nation’s money he cared not who created its laws”. In other words, his “golden rule” was “he who has the gold makes the rules”.
So, who has the gold? Who makes the rules? Are gold and money the same thing? Should they be the same? Should they be under public or private control? Does our Constitution say anything about these issue? How about the views of our founding fathers, or the wisdom they drew from in the founding of our nation? Where does money come from? How is it created? By whom is it created and controlled? Most people don’t really consider these questions, and go from birth to death without giving money much thought, except perhaps to think they don’t have enough of it, or to figure out how to get more money or additional wealth. Most people never differentiate between money and wealth. They seem like the same thing. Aren’t they?
Not exactly. And we will try to address these and many other similar questions in this and additional future blogs. Continue reading
Filed under: crisis, debt money, economic crisis, Federal Reserve, monetary policy, money, Money creation, Money Crisis, Socio-Economic Commentary | Tagged: banking, constitution, crisis, debt money, economics, founders, framers, money, Ponzi | Leave a comment »