"The [privately-owned] Central Bank is an institution of the most
deadly hostility existing against the principles and form of our
Constitution... if the American people allow private banks to control the
issuance of their currency, first by inflation and then by deflation, the banks
and corporations that will grow up around them will deprive the people of all
their propertyuntil their children will wake up homeless on the continent their
fathers conquered."
Monday, September 15, 2008
Oh, that printing press. A crime all of its own.
Corruption continues to grow worse over time. We are now in the thirty-seventh year of fully fiat money with central banking. In cases such as Freddie and Fannie, the market must handle the entire process. The government should remove itself totally from participation in the free market. We have been living in an illusion thinking that the government can bail out these private failures and criminal adventures. Some day very soon, the bills will all come due. A government can only create paper money with no backing for so long. This sort of printing press should be viewed as criminal as it once was... Thomas Jefferson wrote:
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