Political Pistachio

Blog Home of the Writer and AM and FM Radio Host, Douglas V. Gibbs.
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Sunday, March 11, 2012

Federal Reserve, Definition; Thomas Jefferson's Opinion of. . .


Federal Reserve - A privately owned corporation that is owned by a secret group of international bankers.  The federal reserve holds a monopoly on the creation of money in the United States.  Whenever the U.S. Government needs money it borrows the money from the federal reserve, thus creating a national debt.

And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale. -- The closing sentence in Thomas Jefferson's letter to John Taylor, May 28, 1816.

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