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To: freddy005

Academics have, with some reason, hated Jackson for years.

Of interest is Jackson’s fight with the Bank of the United States (A precursor to the Federal Reserve) Jackson was afraid that the bank would become political and favored abolishing it. The bank president then did use the banks influence to oppose Jackson. Dd Jackson’s allegations drive the bank to a corrupt position or did Jackson’s allegations merely force the bank to expose its corruption?

I ask because we see much the same thing today, right now.


2 posted on 11/24/2015 2:16:39 PM PST by Fai Mao (Genius at Large)
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To: Fai Mao

“Justice Taney has made his decision. Now let him enforce it.” — Andrew Jackson


3 posted on 11/24/2015 2:22:44 PM PST by TBP (Nous sommes tout Francais.)
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To: Fai Mao

Absolutely agree! I’ve been learning more and more as to why our early founding fathers DID NOT want a “Central Banking” cartel involved in the “coinage” of our currency. Unfortunately everything they feared has come to light as the creation of a “Central Bank” (i.e. the privately held Federal Reserve) has made the US a debtor slave nation - allowing for the growth of Government to become unstoppable!!! Pray America is Waking Up!!


4 posted on 11/24/2015 2:26:01 PM PST by freddy005
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To: Fai Mao
Well, a) the BUS wasn't corrupt. It had very strong, almost universal support from the small, "country" banks; 2) it was 4/5 private anyway; 3) Jackson was a oaf when it came to the bank and all along had a plan to get rid of all banks, as I showed in my book, "Banking in the American South"; 4) BOTH houses of Congress passed not one, but two Bank recharter bills and Jackson vetoed both; so, 6) with no hope of continuing, the BUS just died.

I personally didn't see anything wrong with the BUS because it always was forced to compete with ALL banks in terms of money creation. It did not, unlike the Fed, have a monopoly on money. Any bank (or insurance, or railroad company) could get a charter to print money, backed by gold or silver.

On the other hand, Jackson is innocent of causing the Panic of 1837, which was shown to be caused by the decline of silver importation.

Historians recently have begun to hate Jackson for his treatment of Indians, but up til the 1980s, libs like Arthur Schlesinger loved AJ and saw him as the forerunner to FDR. AJ ranks very low on our list in "Patriot's History of the United States," and I hate to see Trump even remotely compared to him. Knowing Lowry, it makes the comparison unfavorably.

That said, I think like Jackson, in office Trump would say to hell with Congress if they blocked efforts to protect America, build the wall, or admit Syrians.

16 posted on 11/24/2015 4:07:03 PM PST by LS ("Castles Made of Sand, Fall in the Sea . . . Eventually" (Hendrix))
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