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Financial Oligarchy Reigns: Democracy’s Death Spiral From Greece to the U.S.A

Jefferson reiterated his conviction: “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 [them] will deprive the people of all property until their children wake-up homeless….

1 Comments in Response to

Comment by Powell Gammill
Entered on:

Unfortunately Jefferson made no such statement.  The word "deflation" included in th quote was obvious, as there was no such word in those days.


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