"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin (1802)
3rd president of US (1743 - 1826)
And people would look at me as if I were a heretic or totally insane, when asked how I was going to invest my money. I repleid, "Mayonnaise Jars." "Whaaat?" "Mayonnaise jars and mattresses and hide my money in them."
ReplyDeleteI often wonder what TJ and Franklin would say if they could see us now.
Meribeth
Oh well, Meribeth, I think the first thing out of Jefferson's mouth would be, "I told you so!" Franklin is a little harder. He was more a "company man". heehee
ReplyDeleteHopefully cash money won't get so worthless that it takes a wheel barrow of it to buy a loaf of bread. It's gold that's REAAALLY being horded I bet. I am sooo out of that league, myself.
Investing money in the stock market has been an iffy deal for the small investor for like forever. Some of the money market accounts aren't too bad but po' folks have never been able to buy into the ultra safety of Muni bonds or T bills. That's where people like Greenspan keep their dough. They only have problems when things get too good to be true on Wall Street. How often does THAT happen, for real?