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Forum Post: A Financial Element Owns the Government

Posted 12 years ago on Dec. 27, 2011, 6:29 a.m. EST by TrevorMnemonic (5827)
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"The real truth of the matter is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson — and I am not wholly excepting the Administration of W. W. The country is going through a repetition of Jackson's fight with the Bank of the United States — only on a far bigger and broader basis." - FDR

Letter to Col. Edward Mandell House (21 November 1933); as quoted in F.D.R.: His Personal Letters, 1928-1945, edited by Elliott Roosevelt (New York: Duell, Sloan and Pearce, 1950), pg. 373.

I thought this was an interesting quote to stumble upon. Any insight?



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[-] 2 points by PublicCurrency (1387) 12 years ago

The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money.” – Sir Josiah Stamp, Director of the Bank of England (appointed 1928). Reputed to be the 2nd wealthiest man in England at that time.

http://www.TheMoneyMasters.com http://www.WebOfDebt.com http://www.Monetary.org

[-] 1 points by demcapitalist (977) 12 years ago

In the 30's government did take on the big banks, get them under control, started taxing the rich and made a financial system that worked pretty well for the middle class. The situation we are in now is harder to get out of IMO. All the banks and hedge funds are using massive leverage these days and much of the reserves that banks are required to keep are made up of government bonds from the US and around the world. With China as the new manufacturing power the governments of the US and Europe are pretty dependent on that leveraged pile of money being used to fund our day to day operations. It's hard to get the central banks under control when we need them printing up money just to get paychecks to the guys writing the laws. I don't know how we get out of this mess until some folks have the will to take on our trade deficit. I'm not very hopeful because I don't even hear anyone talking about it.