Quote of the Week

[greenmutha]

From the Organic Consumers Association "Organic Bytes" newsletter:

"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."

Thomas Jefferson 1802

[malaise]

1. So why aren't the people on the street n/t

[RaleighNCDUer]

3. They are. Just as he predicted. A couple million of them, out on

the streets.

[crickets]

8. They were.

NYC Wall St. Bailout Protest 25 September 2008
http://www.youtube.com/watch?v=XreAnHG8xu4&feature=related

Edit: added vid title

[QueenOfCalifornia]

2. Wow...

I love this - and am going to email it to everyone on the list....

Thanks.

Here is another Jefferson quote that I love:
"We in America do not have government by the majority. We have government by the majority who participate."
Thomas Jefferson, third US president, architect and author (1743-1826)

[ieoeja]

4. Good thing then that banks do not control the issue of currency.

In fact, that *did* cause serious havoc early in this country's history and was reason #1 we replaced the Articles of Confederation with the Constitution of the United States.

[crazylikafox]

6. AHEM....What do you call the FED?

[ieoeja]

7. 1. Federal funds held in reserve to ensure liquidity of the economy as a whole.

2. The quasi-government organization run by a board of directors appointed by the president and congress that manages the reserve funds, regulate private banks and disperses cash printed by the US Treasury and US Mint.

While the Fed may "issue" currency in that it disperses it, the Fed does not print the money, it does not control how much will be printed, etc. The regional reserve banks within the federal reserve system are run on a day-to-day basis by a non-governmental board of directors. However, they operate under the orders of the government officials at the federal level.

[underpants]

5. Think ya used enough dynamite there, Butch?