Why do some People think State Controlled Central Banking is Communism or Fascism?

The majority of the Founders of the United States didn't seem to think this way, and they have got to be some of the most freedom seeking liberty minded men in all of human history.

Fine, slavery was still an issue back then blah blah blah and they all had their slaves, I know.

So don't try to use that old chestnut to wriggle out of this question guys.

Thomas Jefferson very famously said "I believe that banking institutions are more dangerous to our liberties that standing armies"

Does anyone in their right mind honestly believe Thomas Jefferson was a Communist or a Fascist?

How about James Madison?

James Madison said "History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling the money and its issuance."

Maybe he was just an early forerunner for the tin foil hat wearing conspiracy nuts....

Andrew Jackson said:

"It is not our own citizens only who are to receive the bounty of our government. More than eight millions of the stock of this bank are held by foreigners... is there no danger to our liberty and independence in a bank that in its nature has so little to bind it to our country? ... Controlling our currency, receiving our public moneys, and holding thousands of our citizens in dependence... would be more formidable and dangerous than a military power of the enemy."

But he was maybe just another conspiracy nutter too eh?

Abraham Lincoln said:

"The government should create, issue and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers ... The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government's greatest creative opportunity.

Well, we all know what happened to Abe!

And in any case, Article 1, Section 8 of the US Constitution specifically says that Congress is the only body that can "coin money and regulate the value thereof." The US Constitution has never been amended to allow anyone other than Congress to coin and regulate currency.

So is the Constitution of the United States a "communist" document?

So again, I have to ask you:

Why do some People think State Controlled Central Banking is Communism or Fascism?

9 Answers

  • 8 years ago
    Favorite Answer

    Because their idiots,more or less.

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    Lv 6
    8 years ago

    The Constitution is NOT a list of what the federal government cannot do. It is NOT a list of prohibitions on the federal government.

    The Constitution IS a list of what the federal government is authorized to do, with ALL ELSE being DENIED to it by default. The absense of specific constitutional authorization for anything means that the federal government is denied/prohibited by default.

    The Congress shall have Power…To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.

    Article I, Section 10, Clause 1: No State shall…coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt.

    So, from that we have:

    1. The federal government can coin money.

    2. States cannot coin money.

    3. States have the authority of determining what can be used as a tender in payment of debts by default, because the federal government does not have that specific constitutional authorization.

    4. States are then prohibited by the Constitution from making any Thing but gold or silver coin a tender in payment of debts. (Which also additionally proves that #3 is correct.)


    The above establishes that states can only issue and use gold and silver can in the payments of debts. The constitution does not authorize central economic planning and fiat currency issued by the government is illegal.

    Fascism and Communism cannot exist without central economic planning and fiat currency. In addition you cannot be denied your property or your liberty without a fair trial and a just cause. For these reasons the constitution makes socialism communism and fascism impossible in the US (assuming the constitution is followed)

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  • L.T.M.
    Lv 7
    8 years ago

    Odd that you use a quote from President Andrew Jackson's Veto of the National Bank Charter!

    Andrew Jackson, Bank Veto Message, July 10, 1832


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  • ?
    Lv 6
    8 years ago

    It's one of the central tenets of Marxism.

    Straight from the Communist Manifesto:

    1. Expropriation of landed property, and the use of land rents to defray state expenditure

    2. A vigorously graded income tax

    3. Abolition of the right of inheritance

    4. Confiscation of the property of all emigres and rebels

    5. Centralization of credit in the hands of the State, by means of a national bank with state capital and an exclusive monopoly

    6. Centralization of the means of transport in the hands of the State

    7. Increase of national factories and means of production, cultivation of uncultivated land, and improvement of cultivated land in accordance with a general plan

    8. Universal and equal obligation to work; organization of industrial armies, especially for agriculture

    9. Agriculture and urban industry to work hand-in-hand, in such a way as, by degrees, to obliterate the distinction between town and country

    10. Public and free education of all children. Abolition of factory work for children in its present form. Education and material production to be combined.


    Wow, looks like the Democrat platform, no?

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  • Anonymous
    8 years ago

    Because central control of the economy is the goal of both socialism and fascism.

    Because fascism is just the same thing as socialism.

    Fascism is left wing.

    Left wing is fasciosocialism.

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  • Andy
    Lv 7
    8 years ago

    You mean you're not for the Banking Cartel we have right now?

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  • 8 years ago

    Who thinks that? I've never heard anybody, anywhere say such a thing.

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  • LAN
    Lv 7
    8 years ago

    Why do you think that the government can run banking any better than any other program they run (into the ground)

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  • Anonymous
    8 years ago

    I have honestly never heard anybody say that.

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