Author Topic: 15 Quotes From Our Founding Fathers About Economics, Capitalism And Banking  (Read 795 times)

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Offline rangerrebew

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"Of all the dispositions and habits which lead to political prosperity, religion and morality are indispensable supports. In vain would that man claim tribute to patriotism who should labor to subvert these great pillars of human happiness -- these firmest props of the duties of men and citizens. . . . reason and experience both forbid us to expect that national morality can prevail in exclusion of religious principles."
George Washington

"Only a virtuous people are capable of freedom. As nations become more corrupt and vicious, they have more need of masters."
Benjamin Franklin

Offline Oceander

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If the average person - and the average politician - weren't so stupid, greedy, and irrationally willing to pawn the future for the sake of a little extra coin today, the bankers this article reviles wouldn't be nearly so rich as they might be.

Bankers don't force people to borrow - just as guns don't force people to murder - people allow themselves to borrow.  That goes for private banks as well as for the federal reserve, which was not created to bury the federal government in debt.  The problem with central banks like the federal reserve and fiat money, such as the US dollar, is that the politicians - that is, the individuals that "We the People" have elected to represent us and do our bidding in Congress - find it all too easy to create "free" money in an ultimately futile attempt to paper over the other disasters-in-waiting they've created - at our behest.
« Last Edit: June 11, 2014, 10:14:27 AM by Oceander »

Offline GourmetDan

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"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 them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." - Thomas Jefferson

Note that the Federal Reserve is just such a 'private bank'...


"The heart of the wise inclines to the right, but the heart of the fool to the left." - Ecclesiastes 10:2

"The sole purpose of the Republican Party is to serve as an ineffective alternative to the Democrat Party." - GourmetDan

Offline GourmetDan

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That goes for private banks as well as for the federal reserve, which was not created to bury the federal government in debt.


The Federal Reserve is a private bank and the design is such that it's primary purpose is to bury the federal government in debt.

IOW, the current federal debt situation was the inevitable outcome of the creation of the Federal Reserve...

« Last Edit: June 11, 2014, 10:40:11 AM by GourmetDan »
"The heart of the wise inclines to the right, but the heart of the fool to the left." - Ecclesiastes 10:2

"The sole purpose of the Republican Party is to serve as an ineffective alternative to the Democrat Party." - GourmetDan

Offline Oceander

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The Federal Reserve is a private bank and the design is such that it's primary purpose is to bury the federal government in debt.

IOW, the current federal debt situation was the inevitable outcome of the creation of the Federal Reserve...




No, it isn't a private bank

No, it wasn't designed to drown the federal government in debt


other than the vague assertions of conspiracy theory whackos, you have no support for either proposition

Offline katzenjammer

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The Federal Reserve is a private bank and the design is such that it's primary purpose is to bury the federal government in debt.

IOW, the current federal debt situation was the inevitable outcome of the creation of the Federal Reserve...

In a word, yes.

Offline Oceander

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Offline GourmetDan

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No, it isn't a private bank

No, it wasn't designed to drown the federal government in debt

other than the vague assertions of conspiracy theory whackos, you have no support for either proposition

Yes, it is a private bank and yes it was designed to drown the federal government in debt.

If it were not, it would not be so...

"The heart of the wise inclines to the right, but the heart of the fool to the left." - Ecclesiastes 10:2

"The sole purpose of the Republican Party is to serve as an ineffective alternative to the Democrat Party." - GourmetDan

Offline Oceander

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Yes, it is a private bank and yes it was designed to drown the federal government in debt.

If it were not, it would not be so...




prove it.  your assertions are false unless you can provide proof for them.

Offline GourmetDan

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« Last Edit: June 11, 2014, 10:51:11 AM by GourmetDan »
"The heart of the wise inclines to the right, but the heart of the fool to the left." - Ecclesiastes 10:2

"The sole purpose of the Republican Party is to serve as an ineffective alternative to the Democrat Party." - GourmetDan

Offline GourmetDan

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"The heart of the wise inclines to the right, but the heart of the fool to the left." - Ecclesiastes 10:2

"The sole purpose of the Republican Party is to serve as an ineffective alternative to the Democrat Party." - GourmetDan

Offline Oceander

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Although ownership of the fed is admittedly private in a restricted way ...

Moron...




wow!  "moron"!  that is definitive proof.  that is a stunning rejoinder. 

Let's try this little hypothetical:  you - and just about everyone else on this forum - get your frilly little panties into all sorts of twists because the federal government forces you to purchase a certain kind of health insurance.  What are the primary objections to that?  That it's involuntary; that people aren't being allowed to make their own choices; that it's nationalized health care in disguise.

So why is it government-controlled when it comes to mandating the purchase - and therefore the ownership - of government-approved health insurance policies - but it's strictly private ownership when it's government-mandated holding of restricted equity interests in the government-controlled federal reserve system?


This time, try something other than "moron" - that's so unimaginative; there are so many much more creative insults you could use.

Offline GourmetDan

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wow!  "moron"!  that is definitive proof.  that is a stunning rejoinder. 

Let's try this little hypothetical:  you - and just about everyone else on this forum - get your frilly little panties into all sorts of twists because the federal government forces you to purchase a certain kind of health insurance.  What are the primary objections to that?  That it's involuntary; that people aren't being allowed to make their own choices; that it's nationalized health care in disguise.

So why is it government-controlled when it comes to mandating the purchase - and therefore the ownership - of government-approved health insurance policies - but it's strictly private ownership when it's government-mandated holding of restricted equity interests in the government-controlled federal reserve system?

This time, try something other than "moron" - that's so unimaginative; there are so many much more creative insults you could use.

Ah, 'frilly little panties'.  How imaginative; there are so many much more creative insults you could use.  Hypocrisy thy handle is Oceander.

You were proved wrong, just as you requested.  The Federal Reserve is a private bank, just as I said.

Moron - " A person of mild mental retardation having a mental age of from 7 to 12 years and generally having communication and social skills enabling some degree of academic or vocational education."

A moron is actually educable; you (otoh) just try to change the subject...

"The heart of the wise inclines to the right, but the heart of the fool to the left." - Ecclesiastes 10:2

"The sole purpose of the Republican Party is to serve as an ineffective alternative to the Democrat Party." - GourmetDan

Offline GourmetDan

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Quote

Therefore most Americans would be surprised to learn that almost all of what we use for money is not issued by our government, but by private banks.


Readers Digest version, what this means is that the privately-owned Federal Reserve creates all 'money' with an accounting entry and uses that 'money' to buy U.S. debt (or other approved) instruments.

The Fed buys U.S. debt that cannot be sold to the Chinese, et al on the open market.  The Fed 'monetizes' U.S. debt by creating 'dollars' to 'buy' U.S. debt, thereby injecting those 'dollars' into the U.S. economy with taxpayers on the hook for debt repayment (not likely) and interest.

If the Fed was designed to 'help the taxpayer', it would buy all outstanding U.S. debt and return all of the 'excess profits' on the interest on that debt to the U.S. Treasury.  Were that to happen, the only 'cost' of borrowing would be the cost of running the Federal Reserve.  This would also be functionally equivalent to government-issued, interest-free money creation.

Don't see that happening?

Ever ask yourself why not?

Could it be that the 'private owners' of the Federal Reserve are profiting from the current configuration?

« Last Edit: June 11, 2014, 11:51:18 AM by GourmetDan »
"The heart of the wise inclines to the right, but the heart of the fool to the left." - Ecclesiastes 10:2

"The sole purpose of the Republican Party is to serve as an ineffective alternative to the Democrat Party." - GourmetDan


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