Overflight, 8
“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 them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered … I believe that banking institutions are more dangerous to our liberties than standing armies. They already came to the point of appointing themselves as a money aristocracy defying the government. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
Thomas Jefferson, as quoted in Jim Marrs, Rule by Secrecy, Daniele Pace, The Utopian Money, Joaquin Bochaca, La finanza y el poder (Finance and Power, author’s note)
“The refusal of King George III to allow the colonies to operate a honest money system, which freed the ordinary man from the clutches of the money manipulators was probably the prime cause of the revolution.”
Benjamin Franklin, as quoted in Peter Joseph’s film, Zeitgeist: the Movie, Part III
“The essence of the contemporary monetary system is creation of money, out of nothing, by private banks …”
Martin Wolf, awarded the Commander of the British Empire, associate editor and chief economics commentator at the Financial Times, article on Financial Times, 9thNovember 2010
“What determines how much of their reserves the banks will take out in cash?
No bank would normally take its reserves in cash except to the extent that it has to do so in order to meet the demands of its customers for cash, and, of course, to have a small amount of cash on hand so as to be able to meet its customers' demands on a day−to−day basis. Historically, the reason why the banks do not like to take their reserves in cash is that for each dollar they reduce their reserve accounts by taking cash, their privilege of creating money, to acquire income−producing assets, is reduced.”
Wright Patman, U.S. Congressman, Chairman of Committee on Banking And Currency and of Subcommittee on Domestic Finance, A Primer On Money, Printed for use of the Committee on Banking and Currency, 1964
