Financial crisis: what would Jefferson do?

"I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."

Can anyone truly say he's wrong?

9 Answers

Relevance
  • 1 decade ago
    Favorite Answer

    No, he hit the nail on the head. He knew that the central bank of England was just as corrupt as the modern bank of the Federal Reserve. And it's true, these guys have been manipulating our currency, and sharing their wealth with Wall Street, and other corporate bankers, after all, they control mostly all of the economy and government.

    That's why we need to protect our wealth, restore gold/silver like the Constitution states, after all, it IS the law to have gold and silver as legal tender. Great question.

    You might also favor Andrew Jackson, he vetoed a central bank's initiative proposal back in 1832.

    • Commenter avatarLogin to reply the answers
  • DAR
    Lv 7
    1 decade ago

    Sounds right to me. After all, they had experience with the Continental Dollar.

    And then there is what Andrew Jackson said, as well:

    "In discussing the Bank Renewal bill with a delegation of bankers in 1832, Jackson said, "Gentlemen, I have had men watching you for a long time, and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out."

    Sounds like we need to pass HR2755 which would abolish the Fed after a one year wind down period.

    • Commenter avatarLogin to reply the answers
  • 1 decade ago

    Let me first say, I think Thomas Jefferson was probably this countries best president with FDR right next to him...I think he wouldn't have allowed the deregulation that occurred to occur...he wouldn't be a fan of those lobbyists either...the truth of the matter is: If the writers of the constitution saw what government has become they would be shocked...some they would be very proud of, some they would be terrified by...

    Chris I

    • Commenter avatarLogin to reply the answers
  • Anonymous
    1 decade ago

    Jefferson?

    Well, he ran the first deficit budget and he died broke and seriously in debt. While it is true that in his will he gave all of his slaves their freedom, most of his slaves had been pledged to creditors and only four slaves went free.

    I am not sure I trust Jefferson's financial management skills, and even if I did the banking and economy of the United States is now Keynesian/fiat currency and not tangible asset based so Jefferson's warning stopped applying in 1931.

    • Commenter avatarLogin to reply the answers
  • How do you think about the answers? You can sign in to vote the answer.
  • Anonymous
    1 decade ago

    Basically Ron Paul is the modern day version of Jefferson if you look at where he stands on the issues.

    • Commenter avatarLogin to reply the answers
  • 1 decade ago

    He was right - he'd be calling for revolution right now!

    If the system doesn't represent the people, replace it and throw the criminals in jail...

    Complex problems often have simple solutions.

    • Commenter avatarLogin to reply the answers
  • 1 decade ago

    I wrote that exact quote on the white board in my office today. Weird.

    • Commenter avatarLogin to reply the answers
  • 1 decade ago

    he knew what he was talking about. The best statesman in american history.

    • Commenter avatarLogin to reply the answers
  • Anonymous
    1 decade ago

    Yes.

    • Commenter avatarLogin to reply the answers
Still have questions? Get your answers by asking now.