"[The] Bank of the United States... is one of the most deadly hostility existing, against the principles and form of our Constitution... An institution like this, penetrating by its branches every part of the Union, acting by command and in phalanx, may, in a critical moment, upset the government. I deem no government safe which is under the vassalage of any self-constituted authorities, or any other authority than that of the nation, or its regular functionaries. What an obstruction could not this bank of the United States, with all its branch banks, be in time of war! It might dictate to us the peace we should accept, or withdraw its aids. Ought we then to give further growth to an institution so powerful, so hostile?"
Thomas Jefferson
(1743-1826), US Founding Father, drafted the Declaration of Independence, 3rd US President
Thomas Jefferson did write this (about Banks) to Secretary of the Treasury Albert Gallatin in 1803
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Reader comments about this quote:
 -- Logan, Memphis, TN      
And yet "somehow" the US is completely under the thumb of shadowy bankers who "dictate" absolutely everything that happens. And for those who have the eyes to see it, its becoming very apparent right now, isn't it? We aren't citizens...we're property. Sheep for the fleecing....
 -- J Carlton, Calgary     
    Sounds a whole lot like the Federal Reserve, doesn't it.
     -- jim k, austin     
    We hold this truth to be self evident History is repeating itself. I hope all have sufficient regulation (personal armament with phalanx relationships) and food stocks to weather the effects of Jefferson's here stated truism
     -- Mike, Norwalk     
  • 1
     -- M. Brown, Florida      
    It used to be that perpetual war was the method by which central banks extorted money from governments. Nations at war had to borrow money from the banks to finance the war. If they did not the other side would and they would win. In the socialist paradise, central banks use social programs to make money. There is simply not enough money to be taxed to fund government's socialist promises and they borrow to fulfill them. If they don't borrow, the welfare, pension, and social security checks stop and the mob rises up. Banks have always manipulated governments for profit and that manipulation never benefits anyone but the banker. A deal with the devil is never a bargain.
     -- Ken, Allyn, WA     
    I guess we would be better off not having a Federal Reserve and Board of Governors etcetera. Just let the sitting President run the money system. Sort of like an Argentine economic system. Central Banking around the globe is a recognition that economics is or should be somewhat divorced from the day to day functioning of the governmental processes. It should protect everyone form political passions and provide a long term measure of stability to the economy. It does that better than a strong man system where politics and economics are in lock step.
     -- Waffler, Smith     
     -- Ronw13, ID      
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