The Government Took Over 22 Banks

Over the weekend the U.S. government took over, and bailed out, its 22nd bank. In 1802 Thomas Jefferson had something to say about this, or even more about how the power of banking institutions should be limited. Jefferson said:

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered."

Banks get their control through the use of credit and loans. Being debt free is the only way to be free from the control of banking institutions. I’m debt free, and I’ve never used a credit card in my life. I did it through self-control, and only bought what I could afford. If you do have to get a loan for a car or a house, don’t buy more car or house than you can afford to pay off. Like those who sell alcohol or cigarettes, banks count on people to be weak, and banks count on people to spend more than they can afford because they can’t control their need for greed. Banks lend money as a tool, but those loans can turn into a nightmare when people stop budgeting, and start spending to satisfy their greed.

Jefferson was right, but it isn’t so much that banking institutions are a threat, as much as unchecked greed being the real threat. The real enemy of the American people is their own greed. As long as banks have reasonable restrictions on credit, and reasonable credit card interesting rates, there is boundaries to keep that greed in check.

I know this is off topic for a gossip blog, but I am concerned the impact is having on my audience. Although I only just heard about a man named Dave Ramsey, who gives people advice on becoming debt free, he preaches many of the principles I have lived by my whole life, so click here to visit his web site. HG is in no way associated with Mr. Ramsey, but he does give good advice.

Take control of your own life. Don’t let the banks control your life.