Simply Speaking: A Great Divide
From the very start of the United States, a great divide was developed over whether or not a national bank should or should not be…a Bank of the United States, if you will.
On the one side, favoring formation of such a bank and the evil power that would accrue to it were such notables as Alexander Hamilton, Daniel Webster, Henry Clay and, regrettably, Southerner, John Calhoun who, by 1840, became opposed to the central bank idea and sided with President John Tyler in so-doing at that time.
The most notable of those strongly opposing such an institution from the very start were Thomas Jefferson, Andrew Jackson, Senator Benton of Missouri, and William Cobbett a celebrated English writer and economist.
In our time, the Bank of the United States has been replaced by the Federal Reserve, which came into existence in 1913, under President Woodrow Wilson.
To me, the Federal Reserve remains the evil power it and the Bank of the United States have been from the beginning.
During President Andrew Jackson’s term, in the 1830s, Senator Benton of Missouri arose and spoke before the US Senate on the national bank issue being pushed at that time. Its truths remain to this day.
"The Government itself ceases to be independent, it ceases to be safe when the national currency is at the will of a company.
The Government can undertake no great enterprise, neither war nor peace, without the consent and co-operation of that company; it cannot count its revenues six months ahead without referring to the action of that company – its friendship or its enmity, its concurrence or opposition – to see how far that company will permit money to be scarce or to be plentiful; how far it will let the money system go on regularly or throw it into disorder; how far it will suit the interest or policy of that company to create a tempest or suffer a calm in the money ocean.
"The people are not safe when such a company has such a power. The temptation is too great, the opportunity too easy to put up and put down prices, to make and break fortunes; to bring the whole community upon its knees to the Neptunes who preside over the flux and reflux of paper.
All property is at their mercy, the price of real estate, of every growing crop, of every staple article in the market, is at their command. Stocks are their playthings – their gambling theater, on which they gamble daily with as little secrecy and as little morality and far more mischief to fortunes than common gamblers carry on their operations."
During this time, President Jackson, in speaking of the banking power, had this to say to Congress: "In this point of the case, the question is distinctly presented, whether the people of the United States are to govern through representatives chosen by their unbiased suffrages, or whether the power and money of a great corporation are to be secretly exerted to influence their judgment and control their decisions."
To understand how the ‘banking mafia’ responded to Jackson’s opposition back then, one has only to generally recall the dastardly deeds of greedy banker Mr. Potter in his quest to wrest complete control of Bedford Falls and George Bailey’s family-owned savings and loan company in the 1946 classic movie, It’s A Wonderful Life.
In our real life, the Federal Reserve issue remains, seemingly growing worse as time goes by.
Only time will tell whether We the People and the Tea Party Movement, in addressing this problem, will ultimately have the same success as James Stewart and Donna Reed in their Bedford Falls or whether America goes the road of Rome…
May Yahweh bless through the Name above all names; Yeshua, Christ the Lord.