"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."
Thomas Jefferson to John Taylor, Monticello, 28 May 1816. Ford 11:533.
What's funny is the full Jefferson quote says more about the nature of borrowing money than about the lender of such.
Applied to our government debt and the governments constant deficit spending said quote really is more of an anti-markadelphia than something I'd expect you to quote.
Oops, I guess I was wrong about that part you quoted. It seems the "full context quote" in that article is the one that was wrong, not that specific sentence fragment.
But, the portion in your post wasn't the full sentence. Quoting that sentence fragment makes it sound like Jefferson was saying, "Banks are bad. M'kay?" Do you claim that's what his entire sentence was saying?
I think it was a lot more than just "banks are bad." I used it because it's very relevant to today. We've heard a lot of calls on both the left and the right for banks to be broken up. I agree. If we want to let the free market do its thing, letting the banks (as they are right now) fail will also ruin the world economy. The interconnections are too voluminous and that's why we need a new version of Glass Stegall to compartmentalize the financial sector.
So Jefferson was saying "Banks are BAD, EVIL, SUPERDESTRUCTO organizations that will destroy the planet, leaving nothing but a smoking cinder wobbling around a dead sun"? But he didn't say anything about debt?
It is interesting that Mark would put this up, yet he's a supporter of the Federal Reserve, which of course is the First Bank of the United States writ large. Does Spock have a beard in this world?
Jefferson was obviously wise beyond his years and he knew what would happen if banks were left to their own devices....what we have now. "Too interconnected to fail" comes from Jim Manzi and the oft talked about article "Keeping America's Edge"
Whomever wins the White House in the fall is going to have to tackle the issue of the banks. They're going to have to be broken up and (for a change) this issue has bipartisan support. The right is certainly tired of bailing out banks with taxpayer money when they fail.
Well, we've had this discussion before about debt and the deficit and I haven't seen you admit to a whole serious of facts and evidence regarding either subject. As I mentioned in the other thread, if you want to have a serious discussion about this, by all means, let's have it. We're not going to get anywhere with the personal commentary.
That's right, A. Noni Mouse, you haven't admitted "to a whole serious of facts and evidence". And you should listen to Mark about this, he not just serial about this issue, he's super serial!
17 comments:
Oh look, more fake "facts" from Markadelphia. Big surprise. NOT!
Can we please stop propagating the fake Jefferson quote about "PRIVATE BANKS"?
Nope.
"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."
Thomas Jefferson to John Taylor, Monticello, 28 May 1816. Ford 11:533.
What's funny is the full Jefferson quote says more about the nature of borrowing money than about the lender of such.
Applied to our government debt and the governments constant deficit spending said quote really is more of an anti-markadelphia than something I'd expect you to quote.
Oops, I guess I was wrong about that part you quoted. It seems the "full context quote" in that article is the one that was wrong, not that specific sentence fragment.
But, the portion in your post wasn't the full sentence. Quoting that sentence fragment makes it sound like Jefferson was saying, "Banks are bad. M'kay?" Do you claim that's what his entire sentence was saying?
Ignore the rest of the quote.
Mark and Dick Cheney are both famous for saying that debt doesn't matter.
Mark, not so much as Cheney, but...
No prob, Noni. Everyone makes mistakes.
I think it was a lot more than just "banks are bad." I used it because it's very relevant to today. We've heard a lot of calls on both the left and the right for banks to be broken up. I agree. If we want to let the free market do its thing, letting the banks (as they are right now) fail will also ruin the world economy. The interconnections are too voluminous and that's why we need a new version of Glass Stegall to compartmentalize the financial sector.
So Jefferson was saying "Banks are BAD, EVIL, SUPERDESTRUCTO organizations that will destroy the planet, leaving nothing but a smoking cinder wobbling around a dead sun"? But he didn't say anything about debt?
It is interesting that Mark would put this up, yet he's a supporter of the Federal Reserve, which of course is the First Bank of the United States writ large. Does Spock have a beard in this world?
How would you solve the "too interconnected to fail" aspect of banks, Noni?
Did Jefferson say anything about "too interconnected", or "Glass Stegall", or "compartmentalize"? Or was that you?
What did THOMAS JEFFERSON say? That's the point, not your dancing goal posts.
Oops, looks like Marxy has run away from another one of his lies without admitting he's wrong or changing his mind. Quelle suprise.
I never saw these comments until last night.
Jefferson was obviously wise beyond his years and he knew what would happen if banks were left to their own devices....what we have now. "Too interconnected to fail" comes from Jim Manzi and the oft talked about article "Keeping America's Edge"
http://www.nationalaffairs.com/publications/detail/keeping-americas-edge
Whomever wins the White House in the fall is going to have to tackle the issue of the banks. They're going to have to be broken up and (for a change) this issue has bipartisan support. The right is certainly tired of bailing out banks with taxpayer money when they fail.
Yep, ignore what Jefferson actually said, (Debt is the problem!) and insert what he wants Jefferson to say. Par for the course. (Just like Reagan.)
And you wonder why we don't respect you, liar.
In relation to banks, yes, debt can be a problem. After all, you and I had to bail them out, right?
Remember that Jefferson did not want national bank and Washington and Hamilton did.
But debt to anything other than a bank is just fine?
You really don't get it, do you? I mean, hard core Don't. Have. The. Slightest. Inkling. Of. A. Clue.
You're amazing, Mark. You really are.
Well, we've had this discussion before about debt and the deficit and I haven't seen you admit to a whole serious of facts and evidence regarding either subject. As I mentioned in the other thread, if you want to have a serious discussion about this, by all means, let's have it. We're not going to get anywhere with the personal commentary.
That's right, A. Noni Mouse, you haven't admitted "to a whole serious of facts and evidence". And you should listen to Mark about this, he not just serial about this issue, he's super serial!
Post a Comment