"The system of banking [is] a blot left in all our Constitutions,
which, if not covered, will end in their destruction...
I sincerely believe that banking institutions are more dangerous
than standing armies; and that the principle of spending money to
be paid by posterity... is but swindling futurity on a large scale."
Thomas Jefferson
(1743-1826), US Founding Father, drafted the Declaration of Independence, 3rd US President
stated in 1811 when President Jefferson refused to renew the charter for the First Bank of the United States (the 2nd central bank chartered by Congress in 1791)
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Reader comments about this quote:
The ignorance of this fact has resulted in the take over of the world by the banking institutions. Governments are beholden to these private companies, thus, their loyalties are to whomever controls the purse strings -- and it is not the People.
 -- Chicago     
    Is it going to be possible to repair this resulting system without globally revaluating the worth of all goods and services?
     -- Anonymous, Portage La Prarie     
     -- Anonymous      
    Read "The Essence of Jefferson", by Martin Larson.
     -- jim k, austin     
    "spending money to be paid by posterity", "swindling futurity". Wow! This is the heart of economics, I mean farmers sweat and toil and use some of their seed for sowing rather than eating, now they buy seed and fertilizer hoping to repay when the harvest comes in. A cash economy with out credit and future payments is hard to imagine, no house mortgages etcetera. It is about what the Amish do?
     -- Waffler, Smith, Arkansas     
    A simple self evident truth and yet the foreign despots that continue to infect this nation continue with their poor judgements and criminal activities.
     -- Mike, Norwalk     
    The first move would be for the government to seize the Fed and its assets rather than be forced to buy bad mortgages from JP Morgan, Chase, Kuhn-Loeb, Deutsch Bank, Citicorp, etc. who are all stockholders of the Fed to begin with. Why bail out Fannie and Freddie when we could just take the Federal Reserve and use all the billions and billions of dollars worth of interest to pay for all our 'social services'? If the government can take over failing businesses at taxpayer expense why cannot it take over the culprit? Jefferson killed the First Bank of the US after only 20 years of operation which had nearly bankrupted the nation in that short period of time. The Fed was chartered in 1913 and within 20 years they had bankrupted the US, too -- the only problem is that we didn't get rid of it, we just gave it carte blanche! Now the Fed is the undisputed master of the nation, and the IRS is its official collection agency for redistributing wealth so that their monopoly goes unchallenged. Kennedy dared to re-introduce real money as per the Constitution by issuing 5 billion dollars worth of silver certificates instead of 'borrowing' (i.e. printing) federal reserve notes at interest. He was assassinated shortly thereafter -- and LBJ recalled all those certificates. Why? They would have remained in circulation today and no interest would be due on them. It is not going to be an easy task, but to continue to pour the wealth of a nation into the coffers of the Fed will entrench Fascism in America even further. Will we never learn?
     -- E Archer, NYC     
    Round up all of the thieving bastards and lock them up. All of them. Take all of their money and use it to pay the American people back. Have civilian watch dogs on everything from the cops to the president. Bring them in line, and make them accountable for everything, all of the time. They have shown that none of them can be trusted so we must never trust them again. They have stolen everything that we have and have destroyed our society. What will it take for everyone to wake up, act up, stand up, and act like the men who set this country in motion. Our founding fathers. They did the manly thing.
     -- Billy Yank, Boston     
    It's mere ignorance to blindly see history through current rose colored glasses. Waffler wants to redefine history by comparing it to our current society; farmers have not always purchased seed on credit -- they used to be more thrifty and actually save seed to replant. Else, the economy would be established where one person's entire crop would be sold to other people for seed. Credit/debt based economics have not always been the commonplace -- especially in Jefferson's day. This type of economy has existed in many places and times, and they have always failed horribly (probably because they've usually been closely associated with "Democracy" -- as opposed to other voice of the people systems based on law rather than mobocracy). A cash/substantial system is only hard to imagine for those who try to pigeon hole history into their own paradigm instead of trying to openly accept life for what it's been. America wasn't suffering from the banks (as today) when Jefferson made this comment; he was actually an educated man who accepted history for what it was and sought to warn against what hadn't worked in the past. Again, not hard to understand if you're not hellbent on redefining history by your own apathetic sophistry.
     -- Logan, Memphis, TN     
    Don't Forget that the rothschilds are FUCKING SATANISTS! And they Believe that the EARTH Should only ever be"Burdened" with Five Hundred Million People! THEY WANT TO KILL EVERYBODY ELSE! Check Out CODEX ALIMENTARIUS! THEY ARE GOING TO OUTLAW NUTRIENTS!!!!!! They are Manipulating Societies All over the World With a Hundred and Thirty PRIVATE CENTRAL BANKS. In a 130 Nations, across the World. It is a Monolithic, and Ruthless Conspiracy. They OPPOSE The Constitution. They PROP UP Our Leaders and RETAIN FULL EDITORIAL CONTROL OVER THE MEDIA. and their Goal Is Represented By the I.M.F. and the WORLD BANK. Fraudulent Institutions That Seek the Consolidation Of Media, Politics. and Banking, Over the Entire World. There can only be one result. and that's,... whatever Red-Shield wants
     -- Jesse Emery, St. Louis     
    The Constitution and the Drafters were indeed most insightful and constructed the document with much thought and consideration of the future. Too bad the Obama Administration holds it in such disdain and is on a fascist course to destroy our freedom and liberty.
     -- Ken, Spokane     
    What a buncha bleepin' cry babys! If youse wanna kno, Jefferson akshully reincarnaited, comin' back to 'dis vale a tears to save 'de Constitution, Youse 'de People and 'de spirit of desistance held in his always-useful symbol, 'De Decleration of Independance. Hah! Fat chance! Dicky had CIA pick him up years ago. 'Den 'de Boss declared little 'ol Tommie boy a dumestic ter-rist and trew him into 'de deepest shithole in Gitmo. Yer on yer oan, suckers! We're so deep in yer poket you can't even feel 'de grip we got on yer balls any more. Youse deserve whatever scraps we trow youse from ar garbage can. Dat's it. Nuttin' else - wile we stil let youse live, enyway.
     -- Rumsfeld, D.C.     
    Profoundly prescient. The Fraudulent Reserve and its gangster collection arm have got to go.
     -- J Carlton, Calgary     
    Be nice if some would go back to school and get the spelling right.
     -- Anonymous, mifflinburg     
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