Nuggets of Wisdom

Friday, October 18, 2013

Relevant 1912 Political Cartoon On The Fed

Over a century later, this political cartoon and warning about the Federal Reserve remains relevant:

“Then we shall have only corporate currency, and a government of the corporations, by the corporations and for the corporations—a “soulless” corporate republic.” - U.S. Money vs. Corporation Currency by Alfred Owen Crozier, 1912.
You mean to tell me that a centralized bank that can easily print money and lend it to big banks and corporations will inevitably lead to a corporate state where special interests reign supreme?

Pfft. What nonsense! This cartoonist was way off. Clearly none of this is happening now, right?