James Madison: Controlling Money

Posted by admin on Wednesday, December 1, 2010

James Madison Money Quote saying bankers and financiers only seek control, by any means at their disposal, over governments and economies. Madison said:
 
History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it's issuance Quote
 

“History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it’s issuance.” ― James Madison

 

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In this quote, James Madison is warning about the dangers of allowing private interests to dominate control over a nation’s monetary system and money supply. Some key points in interpreting his perspective:

  • He referred to “money changers” using abusive, deceptive and even violent tactics to maintain influence over governments through their power over currency issuance and financial systems.
  • Madison portrayed this as an ongoing threat according to historical records, implying future generations also need protections against such manipulation.
  • He advocated for democratic oversight of monetary policy to prevent narrow special interests from wielding disproportionate control over a core public function.
  • Most economists agree lack of transparency or accountability in monetary affairs could undermine economic stability if exploited for private gain over public welfare.

Overall, Madison’s quote reflects his view that a just republic requires safeguarding against private monopolization of currency for political ends. A balanced interpretation acknowledges both this perspective as well as the importance of ongoing debate around optimally governing financial systems for broad-based prosperity.

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