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states, are preservedto the states or to the people. " ... To take a single step beyond theboundaries thus specially drawn around the powers of Congress is to take possession of a boundlessfield of power, no longer susceptible of any definition. The incorporation of a bank, and the powersassumed by this bill (chartering the first Bank of the United States), have not, been delegated to theUnited States by the Constitution."
- Thomas Jefferson (1791) Jefferson, having helped to write theConstitution, was obviously correct in its interpretation. Now, the Supreme Court tries to guess what thewriters meant; Jefferson is actually telling us what HE meant: The central bank is unconstitutional.
"If the American people ever allow private banks to control the issue of their currency first byinflation and then by deflation, the banks and corporations that will grow up around them willdeprive the people of all property until their children will wake up homeless on the continent theirfathers conquered".
-Thomas Jefferson 1802.Remember that line,
“first by inflation and then bydeflation ... the banks will deprive the people of all property...”
As we shall see, Thomas Jeffersonwas exactly right. The banks use this strategy repeatedly throughout history, each time gaining a biggerand bigger piece of the economic pie. First, they make money plentiful and inexpensive so that peopleexpand their business and buy farms and homes. Then, they raise interest rates and contract the moneysupply, forcing bankruptcies and foreclosures, obtaining properties at a fraction of their original cost.What do you think is happening right now?Our nation started its existence in debt from the Revolutionary War. Jefferson argued to eliminate thedebt, and Hamilton argued debt was necessary to keep the nation together. The Hamiltonians, theconservatives of their time, won and consequently it has been argued that this basic difference betweenthese two founders was the beginning of the liberal vs. conservative split in our country.
It’s inte
resting
to note that the ones who wanted the debt were the “conservatives.”
Contrary to popular opinion, (andremember that you read it here first)
– even today, those “Borrow and Spend” Republican administrations
are responsible for almost ALL of our $11 trillion national debt.
Contrast that to the “Tax and Spend” or,should I say, “pay as you go” Democrats! Yes, it’s true.
From the founding of our country up throughthe Carter administration, our U.S. National Debt was about one trillion dollars. Tha
t’s right, after two
hundred years of history, including the Revolutionary War, the Civil War, two World Wars, the KoreanWar, and the Vietnam debacle, our national debt was $1 trillion.
Let’s blame Democrat Jimmy Carter for
the whole thing, $1 trillion. After 8 years of Republican Reagan, the debt stood at $3 trillion. 4 years of Republican George H.W. Bush got it to $5 trillion. 8 years of Democrat Clinton raised it another$1trillion to $6 trillion. Finally, after 8 years of Republican Bush II, weowe an additional $5 trilliondollars. Right now, we are looking at $11 trillion in debt and we taxpayers are paying about $500 billionin interest every year.
You tell me who the “conservative” is. Hey, DON’T believe me.
Google it.
“No
generation has a right to contract debts greater than can be paid off during the course of its ownexistence."-
George Washington to James Madison, 1789. Good idea, by George!After much argument, Congress passed a bill proposed by Treasury Secretary Alexander Hamilton. Thisbill established the First Bank of the United States, tenured by a charter of 20 years, and set to expire in1811.Despite objections from several of our founding fathers, the "First Bank of the United States" waschartered for $10 million, mainly to
“effectively distribute the cost of the revolution proportionatelythroughout all of the states.”
The U.S. government chipped-in $2 million to start up the bank and thecharter bankers, who were supposed to put up an additional $8 million, simply used the magic of fractional reserve lending and had their new bank loan themselves theirstart-up money. They actually
used none of their own funds and ended up with control of our nation’s finances.
Bankers are just so darnclever.Over the first 5 years, the government borrowed $8.2 million of newly issued money and prices rose by72%. Jefferson, commenting on this inflation wrote,
“I wish it were possible to obtain a single
amendment to our Constitution
–
taking from the federal government thei
r power of borrowing.”
"History records that the money changers have used every form of abuse, intrigue, deceit, and
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