pith…

Over 200 years ago, in 1802, Thomas Jefferson made a prophetically inferential statement apropos the US banking system. As we see our banks faltering, our credit lines freezing, our housing markets crumbling, and enough corporate greed to pass out $18 billion worth of bonuses with government allocated funds, we should review Jefferson’s ethics on our current weakening banking system.

Jefferson, a great skeptic of private banking, said the following in a letter to then Secretary of the Treasury, Albert Gallatin:

“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

Jefferson couldn’t have hit the nail harder on the head concerning the future of banking. By having our banks control everything, including: credit, loans and the housing market, we are putting the American people at a disadvantage. People are genuinely worried about being deprived of property and this worry stems from the bigger worry of a failing economy and a system that has taken advantage of the American people for too long. Where is the, “freedom,” “liberty” and “equality” that our founding fathers once proclaimed?

A capitalist society should thrive on the premise that everyone can grant themselves wealth if worked for hard enough. This is a reasonable conjecture, but since when did this premise become: you may work hard, but nothing is guaranteed because corrupt, greed-ridden dingbats will be controlling all of your major investments?

What we should do now as a nation is ask ourselves: How much longer do we stand by our banking system? How many more times do we bail them out? When will we stand with Mr. Jefferson and restore power back to the people, to whom it properly belongs?

When everyday Americans are being taxed to hell in order to support Wall Street, it isn’t freedom, liberty or equality. In fact, it is not even theoretically capitalism (or democracy for that matter). There are certain names we call most countries who have rations or incitements (or stimulus, if you will) and pay high taxes or fees to support the government and systems controlled by the government (our banking system, for example), and it usually isn’t “Capitalistic” or “Democratic.”

Unless you want to define democracy as the great Mr. Jefferson did himself: “A democracy is nothing more than mob rule, where fifty-one percent of the people may take away the rights of the other forty-nine,” we should have this be the final chance for the banking industry.

Thomas Jefferson must be cringing in his grave right now, and asking the question every American patriot should be asking themselves right now: when is enough enough?