Thomas Jefferson on Money, Debt and the Redistribution of Wealth
The democracy will cease to exist when you take away from those who are willing to work and give to those who would not.
I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.
It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.
My reading of history convinces me that most bad government results from too much government.
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 be 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.
- Thomas Jefferson, America's 3rd president
- December 16, 2008
- Finance and Accounting