So. We the taxpayers are being asked to cough up 500 billion pounds in an attempt to ensure that the British Banking system does not become extinct. None of us would have believed it a month ago. This is a big risk for both the government and for us. The semi-nationalisation of the banking system. It is too depressing to think about. Where is it all going to end?
We should have listened to Thomas Jefferson (April 13, 1743 – July 4, 1826) the third President of the United States (1801–1809), the principal author of the Declaration of Independence (1776), and one of the most influential Founding Fathers for his promotion of the ideals of republicanism in the United States:-
“Banking establishments are more dangerous than standing armies”.
Anonymous
October 9, 2008I agree. Jefferson was worried about the industries and their interests that standing armies create (eg. a vested interest in war and armament). He was right. And now he was right about banks too.
A Mother's Place is in the Wrong
October 12, 2008I know, the whole situation stinks – we’re so bad at predicting the future, but Jefferson was dead right. M 🙁