Bryan Sant wrote:
Among the few things that the Federal Government SHOULD do is mint and regulate money. The Federal Reserve is as "Federal" as Federal Express. I love free enterprise all day long, but I think is ridiculous and suspicious that our government has abdicated its responsibility to mint and regulated money to a private central bank.
The federal reserve is a government agency the works with private enterprise to regulate the economy. The top officials of the reserve are presidential appointees. There are officials that are elected by private banks, but those officials report to the elected officials, who then determine the economic policies, not the other way around.
Thomas Jefferson (co-founder of the Democratic party) said, "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."
He organized the Democratic-Republican party and they always referred to themselves as Republicans. Now it is true that modern democrats like to look back at him an Jackson as their party founders(this is kind of hard on me as I consider my self a democrat and they are two of my least favorite presidents. I like TR and Lincoln, but the republican party is no longer the liberal party it once was). On this particular point I think Hamilton and the federalist were right, and Jefferson was wrong(I don't think I really agree with Jefferson on anything, but he can be a very eloquent writer).
Kyle /* PLUG: http://plug.org, #utah on irc.freenode.net Unsubscribe: http://plug.org/mailman/options/plug Don't fear the penguin. */
