Banking Control Quotes
This frequent Jefferson quotation almost certainly was never written or uttered by him but was probably created by later opponents of private banks. It has never been verified from any studies of Jefferson’s prolific writings. Further the word ‘inflation” came into use in the 1860s and ‘deflation’ seems to have first been used in the 1920s. However, some ascribe it to a letter Jefferson wrote to Treasury Secretary, Albert Gallatin in 1802.
The last sentence echoes a quotation of Napoleon. See {630664} .
By the middle of the 20th century, the banks were no longer allowed to control the railroads and seemed less powerful, but by the beginning of the 21st century, the few largest banks, without the railroads or any other industrial holdings, were so big that the controlled credit, fraudulently manipulated rates and mortgage foreclosures and after losing huge amounts speculating in 2008, the government had to bail them out with taxpayer money while the bank executives who caused the failures tool million dollar bonuses. Never were banks so powerful in any country that they could have the government pay billions of dollars for their losses and mistakes.
The recruitment was successful and Michigan farm country became one of the hotbeds of the small but loud and virulent Posse Comitatus movement.
