Why Thomas Jefferson Opposed the Creation of a Central Bank

By Thomas Jefferson. A Founding Father’s Opinion Concerning the Constitutionality of a Federal Bank, 1791. Though it is common to discuss Andrew Jackson’s opinion about a national bank, it is far less common to hear Thomas Jefferson’s version of things. Here, Jefferson lays out, systematically, his views on finance and the nature of a bank. The existence of the Federal Reserve in contemporary times simply shows how far the present regime is from the mind of the Founding Fathers.

jefferson-fed

The bill for establishing a national bank undertakes among other things: 1.) To form the subscribers into a corporation; 2.) To enable them in their corporate capacities to receive grants of land; and so far is against the laws of mortmain;1 3.) To make alien subscribers capable of holding lands, and so far is against the laws of alienage; 4.) To transmit these lands, on the death of a proprietor, to a certain line of successors; and so far changes the course of descents; 5.) To put the lands out of the reach of forfeiture or escheat, and so far is against the laws of forfeiture and escheat; 6.) To transmit personal chattels to successors in a certain line and so far is against the laws of distribution; 7.) To give them the sole and exclusive right of banking under the national authority; and so far is against the laws of monopoly; 8.) To communicate to them a power to make laws paramount to the laws of the States; for so they must be construed, to protect the institution from the control of the State legislatures, and so, probably, they will be construed.

Jefferson was likely the most intelligent among the founders of America. He knew what the outcome of central banking would be because he was aware of those that would control it.

The Federal Reserve Banking System is a corporate monetary system that operates autonomously (independent) of Govt control, and issues "CORPORATE" currency and credit under commercial law, not Constitutional law. The worst result is the circumvention of the Constitution.

Most Americans are living inside of a corporate structure without realizing it. The people are obligated to the "policies" of that corporation, which is the FEDERAL RESERVE. There is no Constitution within the corporate structure of the FED.

The Federal Reserve Banking System is a corporate monetary system that operates autonomously (independent) of Govt control, and issues "CORPORATE" currency and credit under commercial law, not Constitutional law. The worst result is the circumvention of the Constitution.

Most Americans are living inside of a corporate structure without realizing it. The people are obligated to the "policies" of that corporation, which is the FEDERAL RESERVE. There is no Constitution within the corporate structure of the FED.

Your analysis is absolutely correct.

Using Fed Notes to "pay" for anything simply puts off the debt for later. And even though you might consume that burger at Micky D's it is never really paid for. And the cash you gave for it merely passes the debt along to another party when they use those Notes again.

Then with Fractional Reserve Banking that adds more fuel to the fire. As the debt is paid off, the money is extinguished. But the bank still makes its profits from those "loans". ;)