Thomas Jefferson about banks: Caveat emptor!


Many folks seem to think that money shellgames by the Federal Reserve is bad and almost evil — yet the actions of ‘for profit’ banks is just normal capitalism and somehow acceptable.

Caveat emptor!

What was it President Thomas Jefferson said?

“If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”

President Thomas Jefferson in 1802 letter to Secretary of the Treasury, Albert Gallatin

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2 Comments

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2 responses to “Thomas Jefferson about banks: Caveat emptor!

  1. George S. Harris, Captain, Medical Service Corps, U. S.Navy (Retired)

    Nice comment but “private banks” do , “control the issue of money.” However, I would agree that private banks and corporations have repeatedly screwed the American people and gotten away with it without “control[ling] the issue of money.”

  2. George S. Harris, Captain, Medical Service Corps, U. S.Navy (Retired)

    “Private banks” do not, “control the issue of money…
    Would you please edit for me?
    Thanks,
    gsh

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