It appears that social credit type policies and general criticism of fractional reserve banking is mainstreaming which might prove good for the economy but not necessarily for us gaining a hearing by riding in on its coattails:
American nationalist Andrew Jackson abolished the privately-owned “Bank of the United States” in 1832. Here is part of his speech before Congress defending the decision:
Is there no danger to our liberty and independence in a bank that, in its nature, has so little to bind it to our country? ...
Should [the National Bank’s] influence become concentrated…in the hands of a self-selected directory…will there not be cause to tremble for the purity of our elections in peace and for the independence of our country in war? Their power would be great whenever they might choose to exert it. ...
It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes. Distinctions in society will always exist under every just government. Equality of talents, of education, or of wealth cannot be produced by human institutions. In the full enjoyment of the gifts of heaven and the fruits of superior industry, economy, and virtue, every man is equally entitled to protection by law. But when the laws undertake to add to these natural and just advantages artificial distinctions—to grant titles, gratuities, and exclusive privileges, to make the rich richer and the potent more powerful—the humble members of society, the farmers, mechanics, and laborers, who have neither the time nor the means of securing like favors to themselves, have a right to complain of the injustice of their government.
(—Speech before Congress by President Jackson, July 10th 1832)
After the National Bank was revived in 1913, Jackson’s warnings proved correct.
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Posted by ben tillman on Mon, 29 Nov 2010 05:44 | #
Posted by BGD on Wed, 17 Nov 2010 20:50 | #
It appears that social credit type policies and general criticism of fractional reserve banking is mainstreaming which might prove good for the economy but not necessarily for us gaining a hearing by riding in on its coattails:
http://www.positivemoney.org.uk/the-campaign-blog/
http://www.bankofenglandact.co.uk/