Alexis De Tocqueville, author of Democracy in America, which was published that year, seemed to warn of this day when he wrote: “The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.”
That is why so many fought the creation of a central bank. They didn’t want Congress to have control of the creation of money. It was to be in private hands.
They knew what would happen. And, it has. We are all hostage to Congress and the Federal Reserve and the private fortunes of an elite in the form of elite banks and even large corporations like GM.
We used to in America, as late as the 1900’s have hundreds of banks of all types, printing their own money. If one went down, or got corrupt, the others would survive. Just like a grocery chain, or a car company or like as if any particular business went down, others would take it’s place.
Now? With the mono culture, central planning, common unionism of the Federal Reserve? How do you escape it’s clutches?
It has us and the whole world hostage.