Mr. Obama – End the Fed

posted by Nima

January 16, 2009 · Posted in Monetary Economics 

Despite all warnings by the founders, Woodrow Wilson signed the 1913 Federal Reserve Act. A few years later he wrote:

“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”

These were the warnings he did not heed:

“All the capital employed in paper speculation is barren and useless, producing, like that on a gaming table, no accession to itself, and is withdrawn from commerce and agriculture where it would have produced addition to the common mass… It nourishes in our citizens habits of vice and idleness instead of industry and morality… It has furnished effectual means of corrupting such a portion of the legislature as turns the balance between the honest voters whichever way it is directed.” –Thomas Jefferson to George Washington, 1792. ME 8:344″

“[The National] Bank of the United States… is one of the most deadly hostility existing, against the principles and form of our Constitution… An institution like this, penetrating by its branches every part of the Union, acting by command and in phalanx, may, in a critical moment, upset the government. I deem no government safe which is under the vassalage of any self-constituted authorities, or any other authority than that of the nation, or its regular functionaries. –Thomas Jefferson to Albert Gallatin, 1803. ME 10:437

(The National Bank can roughly be described as the predecessor to the central bank. It was a private bank that had a multitude of government privileges and monopolies granted to it and protected.)

“History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.” -James Madison

Mr. Obama, are you going to change things? Will you listen to our founders? Will you abolish the Federal Reserve and return the nation to the Constitutional money system, the Gold Standard, again? Advertisement: Get your shortlink before someone else does at

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2 Responses to “Mr. Obama – End the Fed”

  1. D. Hall on January 16th, 2009 9:55 am

    I agree with your views on the fed 100%.


    In a seemingly random coincidence, just a few hours ago I was reading an article on you may find interesting. Sorry to say this, but your T-Jeff quote up there is apocryphal, and never uttered by the man (although it does mirror many of his views).

    Might want to fix that to avoid the trolls!

  2. Nima on January 16th, 2009 10:42 am

    Thanks much for the correction. In fact, I found a couple of much much better quotes at the link you provided. No idea why anyone would make something up in the light of all the confirmed quotes that are available.

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