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Tue 14 Oct, 2008 09:09 am
Quote of the Week
'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.'
Thomas Jefferson 1802
Good quote, Bear, but it needs a little historical context. This was back in the day before there was any such thing as a Federal Reserve Bank and private banks issued their own pieces of printed currency which people spent just as though it was "real" money.
Now, there is a Federal Reserve Bank which issues private banks printed currency which people spent just as though it was "real" money.
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