Alexander Hamilton, the first U.S. central bank, money changers, and Andrew Jackson

English: Andrew Jackson - 7 th President of th...

English: Andrew Jackson – 7 th President of the United States (1829–1837) (Photo credit: Wikipedia)

Central banking was NEVER a good idea. Andrew Jackson had flaws, but at least he apparently was not in their “pocket” (pun intended). No partisan of individual liberty –natural individual rights– can condone a force-subsidized centralization of control over a nation’s financial activity, or government-enforced privileges for a selected cartel of private bankers.

I don’t know enough about the Federalist Papers to know what Alexander Hamilton said in them about central banks, but it’s rather obvious that he and Justice Marshall hid the “whole truth” from the public. Many of the other founders, including Thomas Jefferson, were very explicit in their condemnations of centralized banking power.

Central banks are the Trojan horse of usurpation of power leading to more power-grabbing. This is one reason Jesus Christ himself showed by example what his followers should do with money changers. Keep watch on them, they cheat and lie and turn the houses of God into dens of thieves.

This is EXACTLY what happened with Alexander Hamilton’s central bank. It’s a very bad mark on Washington’s presidency, in fact. The bankers began using federal government money to expand their control over all the banking in general, which was one reason Maryland tried to stop them in Maryland.

And the fact that many of these central-banking-advocates signed the Constitution shows they were not all being honest. That includes later Chief Justice Marshall, who headed the Supreme Court decision to declare the charter for the central bank constitutional.

So when Andrew Jackson got his chance to veto the central bank charter renewal passed by Congress, he most emphatically put his VETO on it. He had his flaws but this is one of the best things any U.S. president has ever done for the American people. ALL the American people.

Think about why  Karl Marx in the Communist Manifesto advocated for a central bank that would control the monetary system in every country in the world. Most socialists, Communists, and “progressives” roll right over that –except the ones that do and think about it do not remain such for long– but they should consider it. Why would an anti-capitalist push for giving capitalist bankers complete control over a nation’s economy?

 

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