Sunday, September 28, 2008

"It's the Economy Stupid!"

"I have two great enemies, the Southern Army in front of me, and the financial institutions in the rear. Of the two, the one in my rear is my greatest foe." -Abraham Lincoln

"You are a den of thieves and vipers, and I intend to rout you out, and by the Eternal God, I will rout you out." -President Andrew Jackson to the bankers in 1835

By 1836 Andrew Jackson had successfully killed the Second Bank of the United States and in only two years (by January 8, 1838) he paid off the entire national debt. When he was asked what his most important accomplishment had been, he stated without hesitation, "I killed the bank."

On June 4, 1963, President John F. Kennedy (executive order 11110) declared that the privately owned Federal Reserve Bank would soon be out of business.