Thomas Jefferson: Banking Armies

Posted by admin on Saturday, March 5, 2022

Thomas Jefferson Money Quote saying banks are more dangerous than soldiers spending our money on huge scale. Thomas Jefferson said:
 
banking establishments are more dangerous than standing armies, the principle of spending money to be paid by name of funding Quote
 

“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” — Thomas Jefferson

 

Share </> Quote Image

Share the Thomas Jefferson Money quote image above on your site:

 
Short Link to this Quote:

[collapse]

 

This quote suggests that Thomas Jefferson believed banks posed a greater threat to society than standing armies, and that accruing large government debts to be paid by future generations through practices like deficit spending was essentially a form of widespread fraud.

He appears to be arguing that concentrating financial power in banks allows them to exert dangerous influence, and taking on debt obligations that must be serviced long into the future amounts to deceiving those who will inherit the liabilities.

Jefferson seems to have viewed these policies as irresponsible and unfair ways to commit future citizens to burdens without their consent for the benefit of present interests.

The quote conveys Jefferson’s strong opposition to centralized banking powers and growing long-term debt that he felt compromised the well-being and autonomy of posterity.

Quote Search

 

Categories: finance Tagged:

Leave a Reply

You must be logged in to post a comment.

Money Quotes Daily

Money Quotes Daily