“quiet encouraging drops in loan commitments” (less loans – hurray!) (Bank: NOOOO)

“people need to be very careful about borrowing increasingly large mortgage amounts at very low interest-rates – because it is only a matter of time when rates will increase.”

1804 - Vice President Aaron Burr Shoots Rothschild’s Bank Agent Alexander Hamilton
1804 – Vice President Aaron Burr Shoots Rothschild’s Bank Agent Alexander Hamilton in an Duell

If the American people ever allow private banks to control issue of their currency, first by inflation, then by deflation, the banks and the corporations that will grow up around them, 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 his opposition to the Re-charter of the Private Bank Bill (1809).

“Legislation was introduced 5 times for a ‘central bank’ and 5 times defeated with 2 President Madison vetoes, but on the 6th. attempt it was passed.

On April 10, 1816, President Madison signed the bill into law.”

“To Jackson, the bank symbolized how a privileged class of businessmen oppressed the will of the common people of America.”

src: https://politicalvelcraft.org/2013/07/24/i-killed-the-bank-president-andrew-jackson-u-s-vice-president-aaron-burr-shoots-rothschild-czar-alexander-hamilton/

http://www.history.com/this-day-in-history/andrew-jackson-shuts-down-second-bank-of-the-u-s

 

Leave a Reply

Your email address will not be published. Required fields are marked *