Thomas Jefferson on the Credit Crisis

I leave you with this quote to ponder over the weekend.

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.

- Thomas Jefferson, 1802

Thanks to Ian Copsey, a forex analyst in Asia, for sending this one on.

Tagged as: banking, Thomas Jefferson