• Ronald A. Flate

Our Economy and the Wisdom of Thomas Jefferson

I recently wrote an email to clients and made known my frustration with the fact that neither Candidate for President voiced the obvious disdain they should have over the $700 Billion Bailout Bill. Why were neither of them critical of this bill being only for the wealthiest of the wealthy with “0” benefits to the poor and the middle classes?

Where was the outrage with the original draft of this Bailout Bill being a total of 3 pages long, demanding immediate payment and with no accountability on its spending by this administration. Add to this, the un-heard of: demand for a vote without a single Congressional or Senate hearing on this monstrous new liability for our U.S. Citizens and several future generations as well.

One client wrote back and asked if I saw a solution in the public or private sector? My answer was:

“Time, hard work and getting more and more people to know that this is not just a chance thing is pretty good for openers.

Thomas Jefferson in 1802 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.’ ”

So now we have started. Let us continue!

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