Interesting Quote by Thomas Jefferson

[HoustonMilfDebbie]

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, 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."

– Thomas Jefferson in the debate over the Re-charter of the Bank Bill (1809)

[CuteOldGuy]

That's been Ron Paul's and Gary Johnson's position for a long time. Obama and Romney are both wholly owned subsidiaries of Wall Street and the Federal Reserve.

[JD Barleycorn]

Since it was Obama and later Dodd-Frank that said some banks were too big to fail...how can you vote for him? Obama is the one who fulfilled the curse shall we say. After all his cabinet is full of Goldman-Sachs people.

[icuminpeace]

JD, you seem to forget that Mr. Paulson and Mr. Bush started the bank bailout. But we have the renaissance GOP now, so we now need to forget that the debt and the deficits were also accumulated under their watch and trust that now they're serious about tackling both issues. Good luck, because that's what America will need regardless of who lands the job.

[LexusLover]

[QUOTE=HoustonMilfDebbie;105177 1811]"If the American people ever allow private banks to control the issue of their currency, ...QUOTE]

Where do I find me a bank that issues its own currency?

[CuteOldGuy]

Actually, I should correct myself. The system of fractional reserve banking allows banks to issue currency every time it makes a loan.

[JD Barleycorn]

Bush did not codify the idea of too big to fail. That happened under Barry.

[LexusLover]

Originally Posted by CuteOldGuy

The system of fractional reserve banking allows banks to issue currency every time it makes a loan.

Actually banks don't have their own currency.

In fact the vast majority don't even have their own property!

And most would go broke .....

.... without insurance coverage over a slip and fall case inside the bank.