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Martin Armstrong: "Understanding Jackson's Bank War Is Critical To Our Future"

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Submitted by Martin Armstrong via ArmstrongEconomics.com,

BankWar-3

Understanding Jackson’s Bank War is critical to our future. He was absolutely correct insofar as following the Jeffersonian view that a National Debt would not be a Blessing as Hamilton proclaimed, but the servitude of the people that would ultimately consume all liberty. In this vain of thinking, Andrew Jackson was correct and in his annual message to Congress in December 1834, President Andrew Jackson reported that the United States would be debt-free as of January 1, 1835. This marked the first and only time that the United States or any other major nation in history had ever been free from debt. Jackson declared:

Jackson-Andrew

“Let us commemorate the payment of the public debt as an event that gives us increased power as a nation and reflects luster on our Federal Union.”

Jackson had adhered to the prevailing view of Thomas Jefferson in his battle against Hamilton to create a national debt. Jefferson’s view was that incurring a national debt and passing it on to future generations condemned those generations to involuntary servitude.

There are people who have made up quotes attributed to Jefferson that are totally false. The only real quote of Jefferson regarding banks come from a letter Jefferson wrote to John Taylor in 1816: “And I sincerely believe, with you, 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.”

Continental$60-1779

Jefferson was concerned with debt, not private banks. The quote commonly circulated to justify the destruction of the Federal Reserve attributed to Jefferson is completely fake: “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 them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered..” Even the terms deflation and inflation did not exist at that point in time and paper currency of the colonial period was issued by the states and the Continental Congress, not private banks.

Jefferson’s views on debt was the critical point that Jackson followed. Debts passed on to children that neither voted for nor approved of them, are a blatant example of taxation without representation in the Jeffersonian view of life. When Jackson first ran for president in 1824, he denounced the debt as a “national curse.” He vowed to “pay the national debt, to prevent a monied aristocracy from growing up around our administration that must bend to its views, and ultimately destroy the liberty of our country.”

Thomas Jefferson considered excessive debt immoral, and he advocated paying off debts within a generation (i.e., 20 to 40 years at the time). This was the taxation without representation that children must pay for debts they did not create nor benefit from. Andrew Jackson was following in Jefferson’s footsteps as he sought to pay off the national debt during his presidency (1829-1837).

JacksonBankWar

Jackson created countless enemies and became one of the most polarizing presidents in American history. His war on the banks took a two-fold approach. He first needed to eliminate the national debt that he saw as beholding to the bankers. Paying down the debt required cutting government spending and you can imagine the chaos and bad feelings that would set off today. In the course of this objective, Jackson generally opposed bills that allocated taxpayer money for “internal improvements” what we call “pork barrel spending” today. In the 1863 popular story “The Children of the Public”, Edward Everett Hale used the term pork barrel as a homely metaphor for any form of public spending to the citizenry. However, after the American Civil War, the term came to be used in a derogatory sense.

Clay Henry

Jackson’s feud with Henry Clay was famous. Both had run for president in 1824 along with John Quincy Adams. Clay has the least votes so he lost. Jackson had really won but Clay was the Speaker of the House and he steered the election to Adams anyway. Jackson and Clay were both lawyers, and each hated the other passionately. When Jackson won the elect for president in 1829, he would personally punish Kentucky vetoing any “pork: spending since that was the home state of his hated rival Henry Clay. Still, Jackson did much to cut government spending and make it possible to pay off the national debt by January 1st, 1835.

An increase in government revenue was also required to pay down the national debt. To this end, Jackson enforced the tariff laws that many southern states viewed as excessive and even confiscatory.

In 1828, a new tariff law took effect that raised taxes on foreign imports to unprecedented levels. The law’s supporters were mostly northerners who believed higher taxes on imports would protect northern industrial goods from European competition. There was clearly a divergence between the north and south with respect to international trade. The South saw this as a law which disproportionately harmed their economy because that region relied more on foreign imports than the North. Furthermore, the Jackson high tariffs led to retaliation by foreign trading partners who in turn imposed high tariffs of their own against American exports. Since the South exported more things such as cotton and tobacco compared to the more industrialized North, the Jackson tariffs were also disproportionately harmed the Southern economy more so than the North.

South Carolina’s response to perceived onerous federal taxation led to one of the first major sectional conflicts in U.S. history and helped sow the seeds of civil war.  In 1832 an outraged Jackson. He proposed to mobilize a federal army and lead it himself into South Carolina to collect the revenue. Ultimately, cooler heads prevailed when South Carolina agreed to abide by a modified tariff law. It was this tariff collection was vital in paying down the national debt.

2nd-bank of USA C

Biddle

Jackson’s Bank War was phase-two. Andrew Jackson despised the Second Bank of the United States, ostensibly because it held too much power over the economy, but actually because it was controlled by his political enemies. So Jackson set out to destroy the Bank for it had even provided loans to his political rivals. The Bank’s President Nicholas Biddle (1786-1844) routinely used lending practices for political gain, including using Bank funds to publish newspaper attacks on opponents as some money center trading NY banks engage in to this day. Biddle openly favored the National Republicans (later to become the Whig Party), many of whom benefited financially from Biddle’s favor. Prominent National Republicans were Congressmen Daniel Webster (who was on the Bank’s payroll as a legal counsel) and of course Jackson’s arch enemy Henry Clay who was again his opponent in the 1832 presidential election but lost.

CornExchangeBank

Jackson withdrew federal assets from the Second Bank of the United States more because of his bitter rivalry with political opponents. He then distributed federal funds to state banks setting in motion the entire wave of Wildcat Banking. State banks all issued their own money and there was no longer and central clearing house or control. Jackson essentially killed central banking in the USA for political reasons rather than true principle among Jackson’s supporters. Many of Jackson’s supporters were the first to take banking charters among the various states and thus this was in their personal interest since they lined up with their hands out to receive federal deposits,

Louisiana 1842

Jackson became aware of the excess in state banking was unfolding. To combat this new trend, Jackson persuaded Congress to pass the Specie Circular Act of 1836, which required land purchases to be made in gold or silver specie – not state bank paper. This had the effect of stopping the speculative bubble in land. However, the Specie Circular ultimately led to a financial panic when loans were called and borrowers did not have enough specie to cover them. This sparked the Panic of 1837, which occurred almost immediately after Jackson left office. The result was a six-year depression. States then issued debt to try to bailout their banks. Many states then defaulted on their bonds permanently setting in motion the first Sovereign Debt Crisis among the States.

1844 Phila Nativism Riot Againt Irish

The Panic of 1837 set off a Depression that lasted for 6 years thanks to the Sovereign Debt Defaults, which included Pennsylvania. This set off riots against the Irish Immigrants that turned into a violent bloodbath in Philadelphia during 1844 as jobs became scarce and native citizens blamed the immigrants.

The political rivalry was unbelievable. Andrew Jackson’s policies naturally generated many enemies all based upon self-interests. Jackson was also the first presidential victim of an assassination attempt. In January 1835, a disgruntled house painter fired on Jackson with two dueling pistols in the Capitol Rotunda. The pistols misfired, and Jackson attacked the man with his cane until aides restrained him. Blaming Jackson for his inability to find a job, the assailant later claimed that if Jackson was dead, “money would be more plenty.” The man was institutionalized as insane and never tried for attempting to assassinate the president.

Nevertheless, when Jackson refused to renew the charter of the Second Bank of the United States, congressional Whigs who supported the Bank and controlled the Senate censured Jackson for assuming power not conferred upon him by the Constitution. This was the first and only time that a president was ever censured by Congress; a more sympathetic Congress removed the censure in 1837.

Some saw Jackson as merely attempting to pursue the founders’ vision of creating a nation free from debt and extended that to the Bank War. His attack upon the Bank of the United States was really politically motivated against his rivals rather than following a principle espoused by Jefferson. However Jackson’s conversion to hard money and decentralized banking ended in one of the worse financial catastrophes in American history. The Specie Circular Act of 1836 set in motion the major contraction in the money supply and amounted to a move what we would call today austerity, but without contemplating the extent of the leverage he set in motion unleashing the era of Wildcat Banking.

Jackson was succeeded by one of his supporters and Vice President Martin Van Buren (1782 – 1862). He became the eighth President of the United States (1837–1841), but his inability as president to deal with the economic chaos of the Panic of 1837 led to his defeat in 1840. This was the split of the Democratic-Republican Party of Jefferson which at first was known as the Whig Party which surged in popularity due to the economic depression. The Whig Party won the election in 1840. William Henry Harrison (1773–1841) was the ninth President of the United States (1841), an American military officer who was the last President born as a British subject. Harrison died in office on the 32nd day in office of complications from pneumonia,

Tyler John

John Tyler (1790-1862) was Harrison’s Vice President who now became President. Despite efforts of Whigs and anti-Jacksonians, they could not override Jackson’s veto during his presidency to shut down the Bank of the United States, which became private, surviving only five years also collapsing during that aftermath of the Panic of 1837. Nevertheless. Henry Clay and his Whig allies attempted a new charter, but it became obvious that Tyler would be against for he too was a State’s right man and anti-Federalist and since he had already vetoed much of the Whigs’ agenda.

Swallowing his pride, Henry Clay sat down with the president and the two talked for more than seven hours, finally working out a plan for a new kind of bank – the Third Bank of the United States. Rather than a single national bank against the many state banks that stood around the country, this bank would serve as a link between the state and federal level, operating to moderate speculation but also supply good loans to growing areas. There was no precedent for it in the Constitution for such a bank, yet it could be enacted as a bill from Congress. Tyler agreed to this structure on August 16th, 1841. The Third Bank of the United States was given a twenty-year charter like the former two and served with success.

 

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Sun, 04/19/2015 - 11:32 | 6008424 HonkyShogun
HonkyShogun's picture

It seems like the moral is you can have jews or freedom but not both.

Sun, 04/19/2015 - 11:36 | 6008432 TahoeBilly2012
TahoeBilly2012's picture

"National" debt is core essence of evil. "Collective debt"...for the betterment of all, because paying interest is soooo worth the cost of advancing "collective spending" NOW, versus later.

What a sham.

Sun, 04/19/2015 - 11:40 | 6008444 Thirst Mutilator
Thirst Mutilator's picture

Jew bankers tried to kill Jackson... TWICE... That's all anyone needs to know about Americam history since the 1830's...

Sun, 04/19/2015 - 11:48 | 6008460 0b1knob
Sun, 04/19/2015 - 11:58 | 6008474 Thirst Mutilator
Thirst Mutilator's picture

 ~~ BEFORE Jackson ~~

 

- War of 1812 [Burn Washington DC to the ground], Ft McHenry, Star Spangled Banner... Why?... Because the 1st Bank of the United States Charter had expired

 

~~ AFTER Jackson ~~

 

- Lincoln assasinated after Civil War ended [& JEW carpetbaggers made their way South & claimed all the spoils]... Lincoln killed by a payrolee of European Jew bankers because Lincoln had intended to carry on with GREENBACKS [History may note that Secretary of State  SEWARD was attempted as well]...

 

- Garfield & McKinley... BOTH ~ Largely the same [because a central bank franchise hadn't yet been established]

 

- Wilson [Finally got blackmailed & played ball]...

 

- Kennedy ~ Didn't ~ http://en.wikipedia.org/wiki/Executive_Order_11110

 

- Since Bretton Woods ended... There have been a succession of counterfeit money printing jews as FED CHAIRS [which amounts to a 325 million to 1 happenstance]... In that same time period ~ HALF of all the 'billionaires' in the US are US/dual passport holders [out of a 2% normal ratio]...

 

Use your BEST LOGIC to compel yourself to JUNK my observation [which would be 'cute', because I make ZERO claims here. INSTEAD ~ I simply ask you to weight the evidence and come to a conclusion that a logical person might come to]

Sun, 04/19/2015 - 12:08 | 6008494 Headbanger
Headbanger's picture

AND SHAY'S REBELLION DUDES!  (And Dudettes)

http://en.wikipedia.org/wiki/Shays%27_Rebellion

"War veteran Daniel Shays led four thousand rebels (called Shaysites) in rising up against perceived economic injustices by Massachusetts,"

"Research shows that the Shaysites' grievances extended beyond the specifics of Massachusetts' economic situation to issues like: rule by a faraway elite; cronyism and corruption in government; and regressive tax policy."

THE MOAR THINGS CHANGE...

Sun, 04/19/2015 - 13:48 | 6008733 Pladizow
Pladizow's picture

These comments aren't even worthy of YouTube!

Sun, 04/19/2015 - 15:49 | 6009002 macholatte
macholatte's picture

 

Curious......

Appears that nowhere was there any indication nor desire that the US Treasury would be coining money and be the "Bank of the United States" instead of private banks. 

Mon, 04/20/2015 - 01:47 | 6010285 chumbawamba
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Your mother isn't worthy of YouTube.

I am Chumbawamba.

Mon, 04/20/2015 - 01:56 | 6010296 A Nanny Moose
A Nanny Moose's picture

Indeed Plad. Neither was the Bonus Army. Any retired military, or cops think you are entitled? Guess the fuck again?!

Sun, 04/19/2015 - 13:08 | 6008627 ThirteenthFloor
ThirteenthFloor's picture

+1

Thank U. Thirst M.

Aaron Burr convinced Jefferson to allow foreign land ownership in USA, then killed Hamilton in a dual. Jefferson did kick him from office, Then became the lawyer that sold Wall Street - lower Manhattan to empire banking.

Please note foreign investors pay NO us tax on gains made on Wall Street, never have.

Sun, 04/19/2015 - 13:54 | 6008740 Pladizow
Pladizow's picture

Foreign investors are taxed in their own country, much like Americans investing abroad and why deter international capital.

Sun, 04/19/2015 - 15:43 | 6008986 Anusocracy
Anusocracy's picture

If foreign investors paid in gold, sure.

Instead they rely on the handiwork of con artists.

Mon, 04/20/2015 - 20:39 | 6013000 TheRedScourge
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As a "foreign" investor, I can assure you I am definitely paying taxes on my gains made on Wall Street.

Sun, 04/19/2015 - 13:16 | 6008667 Montgomery Burns
Montgomery Burns's picture

Just off the top of my head I can think of a couple of ways a really determined president could protect himself from attempts on his life by "monied interests".  Especially considering the presidents ability to issue any unconstitutional executive order he likes.  

Sun, 04/19/2015 - 11:58 | 6008483 Captain Debtcrash
Captain Debtcrash's picture

Jackson being one of the few that stood up to the bankers is probably the real reason they want to remove him from the 20 dollar bill.

 

Monetary history should be required learning in school due to its effects on freedom, which probably is precisely why we don't learn it. The link above is a good overview of how we got here. Starts slow but I think it’s worth the read.

Sun, 04/19/2015 - 12:38 | 6008580 Bananamerican
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the Bank of the United States, which became private, surviving only five years also collapsing during that aftermath of the Panic of 1837

Most interesting bit for me...

without tentacle attachment to .gov...Banks are invariably at the mercy, stupidity and venality of their own officers...eh Jamie?

Sun, 04/19/2015 - 13:17 | 6008658 MonetaryApostate
MonetaryApostate's picture

I guess most people have forgotten about the words "Posturing" and "Political Intrigue", or they are simply unaware that the elite constantly lie to keep the people living in ignorance....

 

The easiest way to subjugate a people is to dilute a nation's history to the point that the people don't even know why they even subsist, it is also largely why most people don't have direction in life.

 

Sun, 04/19/2015 - 13:48 | 6008731 Kimo
Kimo's picture

Having Jackson on the twenty dollar Federal Reserve Note is the ultimate insult to Jackson.  Why forget history if you can rewrite it?

Sun, 04/19/2015 - 14:54 | 6008843 Dave Thomas
Dave Thomas's picture

^^ - What he said, Jackson is spinning in his grave knowing he's on the most popular Federal Reserve Note.

Sun, 04/19/2015 - 16:41 | 6009165 MonetaryApostate
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Correction, that is until the $100 becomes the value of the $20 (coming soon?)....

Sun, 04/19/2015 - 16:13 | 6009094 Oldrepublic
Oldrepublic's picture

re: insult/ Jackson and 20 dollar bill

that comment is absolutely correct

Sun, 04/19/2015 - 16:58 | 6009184 ZerOhead
ZerOhead's picture

An excellent must read summary of how we got to where we are.

As for the solution of the introduction of a new electronic currency system that penalizes anyone holding physical dollars and creates negative interest rates for the currencies held in order to mitigate the threat of the gargantuan debt that exists in the system in order to once again save the banking system and enable further LIBERAL (free stuff) spending programs through different means... well I'm personally not so sure.

It also fails to address the problem of governmental promises made to both the citizens and it's own too numerous employees that can never be honored except on the backs of those working in the non-public sector where the prevailing NeoLib gloabalist pressures are still in effect and crushing them. Remeber... the .001% financial elite whose control of the government and never-ending thurst for MOAR will never allow a system that is not controlled by them and for them.

Then there are the upcoming planned NeoCon wars of petro and economic hegemonic conquest whose complications (even if successful) will destroy even more wealth. And don't forget to wrap that all up with the long-sought goals of the Global Elite bankers that want their Global Financial System and ONE WORLD currency (IMF SDR's, BIS, WB, AIIB etc.) that they will control.

Unless everyone is willing to take a SMALLER share of the Global Economic Pie it can never work.

And human greed just doesn't work that way in a "to the victor goes the spoils" kinda way.

Great article and food for thought all the same.

Sun, 04/19/2015 - 16:50 | 6009193 Being Free
Being Free's picture

Good read Captain.  Thanks.

Sun, 04/19/2015 - 17:19 | 6009247 Umh
Umh's picture

But, Mankiller sounds like a really neat name! On the humourous side President Jackson had many Indian relatives whose descendants I am certain hated him.

Sun, 04/19/2015 - 11:55 | 6008486 NoDebt
NoDebt's picture

Yeah.  I wish stuff like that didn't jump off the screen at me as much as it does.  At least I'm not the only one afflicted with the same disease.

Vein of thinking.

Sun, 04/19/2015 - 12:53 | 6008528 thatthingcanfly
thatthingcanfly's picture

That makes three of us.

Also, a little further down: "...beholding to the bankers."

Wow, never seen that one before.

Sun, 04/19/2015 - 17:20 | 6009251 Umh
Umh's picture

Phonics, for the win?

Sun, 04/19/2015 - 19:46 | 6009539 nailgunnin4you
nailgunnin4you's picture

You can chock that up to obummers inept education system captain butthurt.

Sun, 04/19/2015 - 12:26 | 6008545 cnmcdee
cnmcdee's picture

If I was by some miracle elected President of Despot Nation 'X' I would pass a few constitutional laws...

1.(a) Any citizen or director of a company, organization, or government at any level who willfully is found to have loaned money to any government via *any* financial  at any level shall be imprisoned for a period not less than ten (10) years.

  (b) Any government official who is found to be borrowing money, issuing bonds, treasury bills or using private third party intermediaries (federal reserve) shall be imprisoned for a period not less than (10) years, along with those intermediary parties who where complicit in the crime.

  (c) No citizen of a nation may make *any* payment to any government in any fashion. This includes parking fees, speeding fines, taxation, fees, interest, bonds, loans of any fashion.  All taxation, fees or any method whatsoever of paying the government is abolished.  Any government official found guilty of trying to raise a tax, fee, or currency instrument of any fashion shall be imprisoned for a period not less than (10) years.

  (d) Governments will derive their funding by the issuance of currency in strict accordance constitutionally mandated as a percentage of their GDP.  Government departments have a fixed funding as a percentage of this percentage. Government employees shall be payed as a percentage of that to the individual level. Governments may only raise one departments percentage in exchange for another departments diminishment.

  (e) All laws shall be passed by vote card with the ruling body unable to overturn any vote card majority.

  (d) Those of a nuisance nature shall serve soft time as in community service for speeding or littering.

  (e) Those of a criminal nature shall serve hard time as in jail sentences for rape, murder what have you.

  (f) No judge shall administer or collect any fines or fees in any fashion.  All plaintiff orders of payment cannot goto the lawyers.

 

2. (a) Corporate Income Tax Rates shall be determined as a percentage of their market share.  For example Walmart controls 60% of the retail market via it's slave labor practises, and their taxes shall in accordance be 60%.  Those who have no market share (mom and pops) will pay no taxes.

   (b) Corporate Income Tax may be zero in only the following conditions

        - Each employee is an equal owner in the company and,

        - People are payed on a non-time basis for unit worked.

Sun, 04/19/2015 - 12:39 | 6008584 TheReplacement
TheReplacement's picture

Haha.  If you, or any of us, were elected to the Presidency then you, or any of us, would be assassinated.  This is maybe why decent people do not run for office.

Sun, 04/19/2015 - 16:58 | 6009212 August
August's picture

Marco Rubio is such a nice, clean young man, who just wants to be the first Latino sock-puppet.

Sun, 04/19/2015 - 17:22 | 6009257 Umh
Umh's picture

You and that Finnish guy looked realy wierd the other day.

Mon, 04/20/2015 - 20:46 | 6013018 TheRedScourge
TheRedScourge's picture

Why assassinate when you can bypass the law with creative accounting?

 

For example:

 

2.a) is easy to get past. Walmart will just become a revenueless holding company, and each store will become a wholly owned child company.

Sun, 04/19/2015 - 11:48 | 6008461 Fun Facts
Fun Facts's picture

The Federal Reserve (the FED) is the third central bank of the United States.

The first central bank of the United States charter was not renewed, causing the war of 1812.

The second central bank of the United States charter was revoked by Andrew Jackson via executive order. Shortly thereafter he became the first sitting president to have an assassination attempt on his life. He survived two attempts.

https://earthblognews.wordpress.com/2010/02/25/who-owns-the-federal-rese...

Sun, 04/19/2015 - 13:25 | 6008575 MonetaryApostate
MonetaryApostate's picture

Obviously some people needs to go back and look at history again... (Great post BTW)

https://youtu.be/7qIhDdST27g

Sun, 04/19/2015 - 11:43 | 6008450 Seasmoke
Seasmoke's picture

Correct. Is that a Francis Sawyer quote ?

Sun, 04/19/2015 - 12:19 | 6008536 Thirst Mutilator
Thirst Mutilator's picture

No ~ Verity notwithstanding

Sun, 04/19/2015 - 12:24 | 6008550 Usurious
Usurious's picture

 

 

francis_sawyer:

... The PROBLEM IS DEBT MONEY... & THE GODDAMNED MONEY DOESN'T JUST PRINT ITFUCKING SELF people... Somebody actually does that & they have their own interests in mind when they do... Fret not ~ your ONLY responsibility in the matter will be to JUNK francis_sawyer posts if he ever calls 'FOUL' on the master plan of your heroes...

~~~

To put this into a more 'hypothetical' posture... END THE DEBT BASED FIAT MONEY SYSTEM [& you'll see that francis_sawyer will rarely uteer a peep about so called "witches" ~ you'll find it has ZERO to do with 'anti-semitism or bigotry]... However ~ until that system is ended, it will be at the root of every single goddamned thing that anybody talks about because of its inherent ubiquitous characteristic...

Sun, 04/19/2015 - 12:43 | 6008594 MonetaryApostate
MonetaryApostate's picture

The elite want to collapse the banks, don't be fooled by crafty propaganda damn it!

They WANT to END CASH!!!

Sun, 04/19/2015 - 14:25 | 6008780 ThroxxOfVron
ThroxxOfVron's picture

"francis_sawyer:

... The PROBLEM IS DEBT MONEY... & THE GODDAMNED MONEY DOESN'T JUST PRINT ITFUCKING SELF "

 

Thank you, Usurious.

Thank you, francis_sawyer.

+1

Sun, 04/19/2015 - 14:40 | 6008811 Thirst Mutilator
Thirst Mutilator's picture

Fuck that motherfucker!!!

 

As you can plainly see...

 

Since francis_sawyer was BANNED from ZH in 2012, [& therefore, his putrid commentary, which was a pollution upon the earth, has been forever silenced]...

 

Things, for the aggregate of citizenry worldwide, have gotten BETTER [because, CLEARLY, it was his flawed views that were causing the problem in the first place]!

 

#MISSION ACCOMPLISHED!

Sun, 04/19/2015 - 11:50 | 6008468 Burt Gummer
Burt Gummer's picture

I'll take freedom over debt slavery any day.

https://www.youtube.com/watch?v=j4wcC2szApI

Sun, 04/19/2015 - 11:56 | 6008487 HonkyShogun
HonkyShogun's picture

Agreed. Small wonder they're pushing for "antisemitism" to be outlawed and punished worldwide now.

Sun, 04/19/2015 - 12:30 | 6008562 Thirst Mutilator
Thirst Mutilator's picture

Perfect!

 

- Steal everyone's money

- Print/Counterfeit as much as you want for yourself

- Use it to

a) Capture the Jurisprudence architecture

b) Capture the political architecture

c) Capture the mainstream media architecture

d) Oh ~ & while you're at it, buy up all PHYSICAL ASSET production & distribution by way of manipulating paper money capital markets

- use ALL OF THE ABOVE to persecute anyone who questions your HIGH MORALS

 

#WINNING

Sun, 04/19/2015 - 12:37 | 6008577 Usurious
Usurious's picture

Henry Makow:

''The British Empire was an extension of bankers' financial interests. Indeed, all the non-white colonies (India, Hong Kong, Gibraltar) were "Crown Colonies." They belonged to the City and were not subject to British law although Englishmen were expected to conquer and pay for them.''

Sun, 04/19/2015 - 12:54 | 6008620 MonetaryApostate
MonetaryApostate's picture

Henry Makow is an amazing journalist for certain...

https://twitter.com/henrymakow

Sun, 04/19/2015 - 12:57 | 6008625 HonkyShogun
HonkyShogun's picture

I'd be inclined to say we were the rascals for letting it happen. But the power of mass mind control is certainly something to behold. Things appear to be changing for the better though. Like the fact that my original comment has over twice the upvotes as the hasbarbarian league.

Sun, 04/19/2015 - 11:37 | 6008434 Fun Facts
Fun Facts's picture

“Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country.

When you won, you divided the profits amongst you, and when you lost, you charged it to the bank.

You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families.

That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin!

You are a den of vipers and thieves”

– Andrew Jackson, seventh President of the United States (1829–1837).

Sun, 04/19/2015 - 11:49 | 6008462 prefan4200
prefan4200's picture

I agree completely with Andrew Jackson's thoughts, but did he really have to insult vipers like that?

Sun, 04/19/2015 - 11:40 | 6008435 BoPeople
BoPeople's picture

At that time we still had a constitution and even though Jackson was no angel, it served HIS purpose (and most likely the people's) to get rid of the central banks.

It is implied that Jackson was popularly elected despite the opposition by the monied interest. That is suspicious, but great, if true. Can it happen today? I think not. Today, they do not even have to count the votes, just have Reuters declare the winner. No one knows any different ... why leave it to chance?

Do you think that Obama would do what Jackson did, stand up to power and take a bullet for his cause? I don't. Obama does what he is told.

Sun, 04/19/2015 - 11:49 | 6008464 mvsjcl
mvsjcl's picture

All presidents since Kennedy have done what they were told to do.

Sun, 04/19/2015 - 13:15 | 6008662 Buckaroo Banzai
Buckaroo Banzai's picture

Reagan didn't, for about six months. Then he got a bullet for his trouble.

Sun, 04/19/2015 - 18:30 | 6009393 Pancho de Villa
Pancho de Villa's picture

Hmmm...? Not really sure if the motives were the same here. Raygun had H W Bush for a VP. John Hinkley, Jr. came from N. Dallas, Never went to jail, just rushed to the nuthouse. MSM NEVER mentioned the fact that the Hinkley family are very good friends with the Bush"s, often dining out together still to this day. Could H W possibly have been a bit too eager to become POTUS? Nah, just a coincidence... Nothing to see here folks, move along...

 

Ron Paul did say that Raygun expressed a nostalgia for the Monetary Gold Standard though...  

Sun, 04/19/2015 - 11:39 | 6008440 KnuckleDragger-X
KnuckleDragger-X's picture

Our problem is who owns and runs the FED. Government oversight is nearly non-existent and the FED has lobbied for laws that make them audit proof. If congress passed a full audit law, bankers woud flee the country in droves, but I don't see that ever happening because most of congress wears the banker brand on their left hip......

Sun, 04/19/2015 - 13:06 | 6008640 MonetaryApostate
MonetaryApostate's picture

The Federal Reserve Bank, which isn't federal, has no reserves, and isn't even a bank, is NOT controlled by the US, it's only a small cog in a much bigger wheel...  The BIS is bigger than the IMF even & especially the Fed, both of which are members of the BIS, which is where the elite dictate the order of operations from...

History clearly shows us who the true rulers of the world are....  http://en.wikipedia.org/wiki/List_of_wars_involving_the_United_Kingdom

In case you are in doubt who rules the world ~  http://www.x-rates.com/table/?from=GBP&amount=1

(People can lie about anything they want, but there is a very real reason why the Pound is the #1 Currency)

Sun, 04/19/2015 - 14:50 | 6008838 TahoeBilly2012
TahoeBilly2012's picture

The BIS is in Basel. The Protocols of Elders of Zion were found in Basel. Coincidence?

Sun, 04/19/2015 - 16:43 | 6009174 MonetaryApostate
MonetaryApostate's picture

A tidbit I was unaware of, +1000 :D

Sun, 04/19/2015 - 11:42 | 6008447 Imagery
Imagery's picture

What is up with Armstrongs' postings since being let out of confinement?

Pay off debts?  That were fraudulent to begin with?  The Banks stole the wealth and the only question now is who pays the tab?  I done reading Armstrong.....he's clearly conflicted now.  I don't blame him understand......prison i expect can be excrucitatingly painful metally adn physically.

I simply think he and his writings have now been compromised.  Please stop posting Armstrong ZH.

Sun, 04/19/2015 - 11:51 | 6008472 mvsjcl
mvsjcl's picture

I think that's a fair observation, Imagery. Clearly he isn't the same. Not sure why the negative votes. Maybe people still find something worthwhile in reading his thoughts.

Sun, 04/19/2015 - 13:01 | 6008637 Kimo
Kimo's picture

ZH should keep posting Armstrong, where else will his writings get critiqued by rational people?

Sun, 04/19/2015 - 13:20 | 6008671 Arius.
Arius.'s picture

he adresses questions and critiques to his writings in his own blog.

Sun, 04/19/2015 - 13:38 | 6008709 Kimo
Kimo's picture

Without an open forum like ZH, he gives the appearence of cherry picking what he addresses.  Are you sure he doesn't cherry pick?

Sun, 04/19/2015 - 14:09 | 6008761 Bay of Pigs
Bay of Pigs's picture

Good ole Marty is the king of cherry picking.

Sun, 04/19/2015 - 14:59 | 6008857 PhoQ
PhoQ's picture

Your forgot to include this

sarc

ZH should keep posting Armstrong, where else will his writings get critiqued by rational people?

/sarc

Sun, 04/19/2015 - 15:16 | 6008905 G. Marx
G. Marx's picture

Imagery, Either you really haven't been reading Martin or you don't understand what he's saying. Do yourself a favor and stick to the funny papers.

Sun, 04/19/2015 - 11:45 | 6008453 Mister Delicious
Mister Delicious's picture

so is understanding this:

Jewish Lobby Controls Key SANCTIONS POWER at Treasury Dept

Soon-to-be Treasury undersecretary will be third Jew to fill post

(TIMES of ISRAEL) President Barack Obama nominated Adam Szubin to be the top Treasury official monitoring sanctions compliance. Szubin, nominated Thursday to be undersecretary for terrorism and financial crimes, would if confirmed by the US Senate be the third Jewish undersecretary in the role. He would follow David Cohen, who early this year became deputy director of the CIA, and Stuart Levey, who shaped the office’s role in enforcing Iran sanctions as an undersecretary who straddled the Bush and Obama administrations, from 2004-2011… In 2002, he helped found DC Minyan, an Orthodox congregation based on egalitarian principles.

- quite a secret Muslim, eh?
https://markbruzonsky.wordpress.com/2015/04/18/jewish-lobby-controls-key...

Sun, 04/19/2015 - 11:47 | 6008457 Mister Delicious
Mister Delicious's picture

Secretary of the Treasury - Jacob Lew

Deputy Secretary of the Treasury - Sarah Bloom Raskin

Under Secretary for Terrorism and Financial Intelligence David S. Cohen

Assistant Secretary for Terrorist Financing Daniel L. Glaser

Sun, 04/19/2015 - 12:16 | 6008525 Mister Delicious
Mister Delicious's picture

Just like the Nazis, Iran ‘plans to exterminate six million Jews’ — Netanyahu

http://mondoweiss.net/2015/04/exterminate-million-netanyahu

I mean - for fuck's sake, even you paid hasbara trolls, even you anti-Muslim Fox viewers, even you ignorant cunt ziopaths must stand in awe at the ostentatious bullshit of this dissembling warmonger.

Sun, 04/19/2015 - 15:35 | 6008918 RagnarRedux
RagnarRedux's picture

 

Not a third holocau$t of 6 million Jews, sheesh. I vuzz gassed 3....no...no...6 times I tells ya.

The First Holocaust
Jewish Fund Raising Campaigns
with Holocaust Claims
During and After World War One

http://vho.org/GB/Books/tfh/

SIX MILLION JEWS 1915-1938

https://www.youtube.com/watch?v=Dda-0Q_XUhk

Sun, 04/19/2015 - 12:19 | 6008537 chunga
chunga's picture

And supposedly Obuma is against the tribe and really hates bibi. It makes you wonder about all these nominations and appointments.

Sun, 04/19/2015 - 14:13 | 6008766 Bay of Pigs
Bay of Pigs's picture

Barry has been the perfect Manchurian Candidate.

Just follow the money...

Sun, 04/19/2015 - 11:54 | 6008458 Chuck Knoblauch
Chuck Knoblauch's picture

Does China own a controlling interest in the Federal Reserve Corporation?

Who sold it to them?

Would like to see a pie chart of current ownership by nation.

There is nothing American about the Federal Reserve Corporation.

There is a foreign entity controlling YOU.

What sovereignty do you think you have left, America.

 

Sun, 04/19/2015 - 14:11 | 6008764 Urban Redneck
Urban Redneck's picture

No.

But the people who effectively control the Federal Reserve do not own a controlling interest in the Federal Reserve either, but they exercise control of the largest voting blocks of the largest member banks.

(hint: switch to the Institutions tab)

http://investors.morningstar.com/ownership/shareholders-major.html?t=JPM

http://investors.morningstar.com/ownership/shareholders-major.html?t=BAC

http://investors.morningstar.com/ownership/shareholders-major.html?t=C

http://investors.morningstar.com/ownership/shareholders-major.html?t=WFC

Sun, 04/19/2015 - 17:54 | 6009336 trader1
trader1's picture

 

 

who owns these brands?

  • Berkshire
  • Vanguard
  • State Street
  • Fidelity
  • Blackrock
Sun, 04/19/2015 - 14:36 | 6008804 ThroxxOfVron
ThroxxOfVron's picture

"Does China own a controlling interest in the Federal Reserve Corporation? "

The FED is comprised of it's regional and member Banks.

ALL who own shares in The FED Cartel Banks own The FED.  

Who sits on the boards of the Banks and who owns large blocks of voting shares control the member Banks. 

-This would include Foreigners and Sovereign Wealth Funds.

Conduct searches using such word groups as: Largest Sovereign Wealth Fund stakes in American Banks or Largest Foreign Investors In US Banks, etc.. -and you will begin to see the information which you seek.

Board Members, Sovereign Wealth Funds, Private Equity, etc...  Follow the money...

Sun, 04/19/2015 - 15:21 | 6008916 Urban Redneck
Urban Redneck's picture

There has to be some way to pierce some of the denser skulls.

Some of the blindly accepted notions among the theorists died with the founding of the Federal Reserve and the passage of the Clayton Anti-trust Act (almost a century before the final death of the House of Kuhn, Loeb).

The 21st century is not the 19th century.

Las Vegas???  The mob is still there, just not as visibly, and not exercising the same degree of daily control and oversight they once did.

Steve Wynn pedaling junk bonds got the mob largely out of the C-Suites, and Wall Street's lackey AG's cleared a path for their institutional investor masters to the Unions and their pension plans, conveniently cutting out a lot of mob competition for the oligarch bosses.

Group memberships for ZH at the Yale Club or the Union League Club coupled with tickets to some Dismal Science Club lecture just doesn't seem practical...

 

Sun, 04/19/2015 - 11:51 | 6008469 disabledvet
disabledvet's picture

A national debt is an asset not a liability. Government spending and "bailout tycoons" on the other hand...

Sun, 04/19/2015 - 11:51 | 6008470 the grateful un...
the grateful unemployed's picture

can you print fiat with a 3D printer?

Sun, 04/19/2015 - 11:57 | 6008477 jmc8888
jmc8888's picture

Internal Improvements are not pork spending.   The author would be wise to realize that.

 

The Erie canal was NOT pork barrel spending.  We've benefited mightily the last 200 years from it.  It helped settle Ohio and all those rust belt states.

Another water project was the one in Arizona, without which Phoenix would not be possible.

Finally there's NAWAPA... would such a plan from the 1960's that JFK was going to do be pork barrel in so far as there would be no water crisis in California or anywhere in the western U.S. right now had it been built?  Pork Barrel?  Well now California gets to stand around with it's dick in its hand, and we have the pleasure of tons of shitty wars and shitty Wall Street frauds, but not a drop to drink.  Gov. Brown is a fascist moron, and is simply not competent to lead California.

What people don't understand is that Andrew Jackson was raised, supported, and did the bidding of the British Empire and their Wall Street interests.  People should really look at WHO killed Hamilton, and WHO supported Jackson.  The answer...the same people.  The British arm that ran Wall Street.

Internal improvements are what built this country, and the giving of the power to make money over to the Federal Reserve, a private bank, has destroyed not 10,000 or 50,000 families, but tens of millions of them.

And again, look also how everything has fallen apart in this country.  Bankrupt and without assets.  No improvement.

I highly suggest reading 'How Andrew Jackson Destroyed the United States'.   It's free and you can find it online via a search engine.

Sun, 04/19/2015 - 11:58 | 6008491 Chuck Knoblauch
Chuck Knoblauch's picture

The federal reserve corporation is not an American institution.

It's owned by rulers and monarchs who have direct accounts with the IRS.

They withdraw funds only.

They deposit NOTHING.

Sun, 04/19/2015 - 12:21 | 6008542 Loucleve
Loucleve's picture

didnt andrew jackson basically win the War of 1812?

Sun, 04/19/2015 - 15:02 | 6008861 PhoQ
PhoQ's picture

Yes he did. Only a few weeks after the British had officially 'resigned.'

 

Sun, 04/19/2015 - 13:34 | 6008702 Kimo
Kimo's picture

Some projects just get lucky.  If you believe you have a good project, let it be funded by receipts, not debt.  This would be Jackson's message.  Hard to see how it benefits wall street.

Sun, 04/19/2015 - 11:59 | 6008492 Seize Mars
Seize Mars's picture

Here is everything you need to understand American history:

Originally, 20 year charters for corporations (had to be renewed)

1782 Bank of North America - Founder imprisoned for fraud and other abuses
Charter expired in 1802

1791 1st Bank of the US
1811 Charter expired; renewal defeated by a single vote

War of 1812

1816 2nd Bank of the US
1832 President Andrew Jackson promised to veto renewal
1835 Asassination attempt (survived)
1836 Charter expired

Lincoln prints paper money to fund the Civil War
1863 National Banking Act (20 yr charter)
1864 Linclon speaks against paper money banking
1864 Lincoln Assassinated

1881 President James Garfield opposes renewal of the National Bank Act
1881 Garfield Assassinated
1882 Bank charter renewed ("2nd Charter Period" begins)

1901 President McKinley opposes renewal of Nat'l Bank
1901 President McKinley assassinated

1902 President Teddy Roosevelt approves renewal (3rd Charter Period) (He is a member of a NY banking family)

1912 Taft loses election to Wilson (Roosevelt entered and split the ticket)

Dec 23 1913. Permanent Charter of Central Bank.

1962 President Kennedy gives "Secrecy is Repugnant" speech denouncing Federal Reserve
1963 Kennedy authorizes by executive order, Treasury backed "Silver Certificates"
November 1963 JFK Assassinated

Understand?

Sun, 04/19/2015 - 12:04 | 6008501 Chuck Knoblauch
Chuck Knoblauch's picture

History not taught in any school in America.

Sun, 04/19/2015 - 13:08 | 6008648 Keynesians say ...
Keynesians say the darndest things's picture

Jackson is fortuenate he wasn't president today, he def. would not have survived one assanation attempted. Eitehr nail gunned or "single bullet theoried"

Sun, 04/19/2015 - 15:03 | 6008865 The Navigator
The Navigator's picture

Let's add

 

1933 Roosevelt - Gold removed from our "Currency"

1965 Beneficiary of JFK MURDER, Lyndon B Johnson - Silver removed from our "Currency"

August 1971 - 2nd Beneficiary of JFK MURDER, Richard M. Nixon - Gold permanently decoupled from our "Currency" due to "nasty currency traders"

Strange how there were no assassination attempts on these fucktards.

Sun, 04/19/2015 - 15:12 | 6008889 crisrose
crisrose's picture

Federal Reserve Notes are not "our" currency.  FRN's belong to the Federal Reserve.  

Sun, 04/19/2015 - 15:07 | 6008873 windcatcher
windcatcher's picture

In reply to Seize Mars: UNDERSTOOD? Yes, you are far more articulate than a sorry Armstrong central bankster economist.

Sun, 04/19/2015 - 12:09 | 6008503 Prober
Prober's picture

Reality

No matter how bad the central banking system is, no matter what interests control it for whatever purposes, we are stuck with it because a tiny number of scattered complainers writing blog posts is not going to restore our political, governmental, monetary, financial, economic and individual liberty.

Therefore the only practical issue is how to personally prevail and prosper in the era of central banker tyranny and financial repression, which could continue for many, many years more before it collapses.

Financial repression has destroyed the interest-earning value of savings, and the massive global central banking system money creation has inflated the prices of equities and bonds to absurd very dangerous heights.

The important question is: how to earn sufficient investment income without excessive risk to loss of savings ?????

Sun, 04/19/2015 - 13:29 | 6008690 Kimo
Kimo's picture

Keep an eye on the invisible hand, at which Armstrong does appear to excel.

Sun, 04/19/2015 - 12:08 | 6008507 Hobo Sapien
Hobo Sapien's picture

Good article, illustrating the principle of, "it's not that simple."

Thomas Jefferson considered excessive debt immoral, and he advocated paying off debts within a generation

But from what I've read, Jefferson basically died with his credit cards maxed. The man liked his French wines, and knew how to entertain.

I like keen disruptive historical summaries like this, they are all too rare. So thanks, and, "Well done, that man!"

It's been a strange week. But aren't they all..

Zim's not sick but he's not well

Sun, 04/19/2015 - 12:23 | 6008547 Miffed Microbio...
Miffed Microbiologist's picture

Having visiting Monticello and walking the grounds for several days I agree that man knew how to entertain and it certainly would have been an honor to be a guest at his table. Not only experiencing the hospitality and his inventive nature but his vision for the country. I recommend all who can, do so. The energy of the place is palpable and his words placed on plaques around the grounds so meaningful today, seeing how far we have strayed.

Yes, the paltry amount of his estate after his death was quite a shock.

Miffed

Sun, 04/19/2015 - 12:40 | 6008588 Hobo Sapien
Hobo Sapien's picture

True. When was the last time we had a president like this:

A leader in the Enlightenment, Jefferson was a polymath in the arts, sciences, and politics. Considered an important architect in the classical tradition, he designed his home Monticello and other notable buildings. Jefferson was keenly interested in science, invention, architecture, religion, and philosophy; he was an active member and eventual president of the American Philosophical Society. He was conversant in French, Greek, Italian, Latin, and Spanish, and studied other languages and linguistics, interests which led him to found the University of Virginia after his presidency.

His letters are amazing. I hadn't thought of it before, but now I think Monticello has to go on the bucket list..

Sun, 04/19/2015 - 14:40 | 6008813 ThroxxOfVron
ThroxxOfVron's picture

Note well: Jefferson did not graduate from a university, Jefferson founded a University.

Sun, 04/19/2015 - 15:01 | 6008860 Buster Cherry
Buster Cherry's picture

I like the fact that President Jackson beat the shit out of his would be assissin rigbt there in the capital rotunda.

 

The guy took no shit...

Sun, 04/19/2015 - 16:29 | 6009142 Oldrepublic
Oldrepublic's picture

JFK on Jefferson

At a dinner honoring American Nobel Prize winners, April 29, 1962:

I think that this is the most extraordinary collection of talent, of human knowledge, that has ever been gathered together at the White House, with the possible exception of when Thomas Jefferson dined alone.

Mon, 04/20/2015 - 00:47 | 6010229 IronForge
IronForge's picture

Nice Place, Monticello.  If you check out the little Grave Plot there, you'll notice a small Tombstone for POTUS Jefferson; and another one across the Plot for One who apparently took part in the Underground Railroad.

I took a Navy Funded ExecMBA Course Set at UVA's Darden decades ago.  Nice People.  

Mon, 04/20/2015 - 01:19 | 6010262 Miffed Microbio...
Miffed Microbiologist's picture

You are very fortunate. I had to visit UVA because my Dad went there and later transferred to Columbia to get his MBA. My oldest wanted to go but we knew we could never afford it even if she were to have miraculously made it in.

Miffed

Mon, 04/20/2015 - 16:13 | 6011985 IronForge
IronForge's picture

Glad he finished his MBA. 

I've been sidetracked with my post Navy Career, so a few Masters' Degrees are on my Bucket List.

As for your Oldest, I recommend a large company like IBM.  They have work/study programs that allow for employees to work on their degrees.  One of my ex-Annapolis Underclassmen who dropped out due to Medical (Sport) Injuries finished his BS while working at IBM.

Sun, 04/19/2015 - 13:27 | 6008686 MATA HAIRY
MATA HAIRY's picture

his slaves stole him blind....

 

he also had white slaves...oops, I mean "indentured servants"...or rather "bonded men" and "bonded women"...if you really want to be a revisionist, look into the bondsmen/indentured servant history, the real history...it was white slavery.

Sun, 04/19/2015 - 12:10 | 6008511 essence
essence's picture

Martin Armstrong lives in a silo.

He admits the 2nd central bank was corrupt yet laments its demise.
He used the pejorative "wildcat banking" as if the dispersion of banking to more local levels was detrimental.
He places blame solely on politicians even while his articles admit that they do the bidding of the bankers.

 

For those unaware, this is the third in a series of articles he has put out recently; the first two cover the Fed and they're on his blog.
While Armstrong excels at recounting financial history, his interpretation falls short.
According to him everyone who doesn't support having a central bank is a Marxist (and yes, according to him, even G. Edward Griffen).
Armstrong doesn't seem to have any reservations about how people make their money, yet once they have it their ill gotten gains are sacrosanct and shouldn't be touched.
Armstrong doesn't believe there is any place in the Monetary system for any backing or even reference to PMs despite the proven corruption of Central Banking.

Still, he has his merits and despite having hubris that give him blinders, I believe it's worth reading what he has to say.
He is highly critical of overbearing government and in that regard, I believe he is on target.

 

Sun, 04/19/2015 - 12:22 | 6008546 Hobo Sapien
Hobo Sapien's picture

+1

Sun, 04/19/2015 - 12:47 | 6008601 MATA HAIRY
MATA HAIRY's picture

lives in a silo down by the river?

Grain silo or missle silo? It makes a big difference!

Sun, 04/19/2015 - 13:28 | 6008689 Hobo Sapien
Hobo Sapien's picture

Yep. Grain silos are non-smoking only.

Sun, 04/19/2015 - 12:56 | 6008624 Kimo
Kimo's picture

Further,

-  Armstrong's site is not open to comments, and presumably he cherry picks his critics.

-  He is in favor of fractional reserve banking for its flexible money supply, but does not acknowledge its hopelessly corrupting result.

-  He acknowledges how much banking is like '50s forest management, but still sees banking crisis as something to avoid (thereby guarenteeing massive future failures).

If one is in favor of central banking and fractional reserves, one should welcome frequent bank runs as an ultimately stabilizing influence.

Sun, 04/19/2015 - 17:15 | 6009220 essence
essence's picture

Yes. Apparently he does pick his questions in which he responds to.

----
Typical Martin Armstrong blog question:
"Hi Marty, After getting reamed by buying into Gold at $1800, thank god I finally listened to you and switched to stocks.
Regardless of their recent skittishness, stocks are going to the moon! Right Marty?  Don't you foresee that?" Please,please confirm!"

Typical Martin Armstrong follower as he has so copiously posted again and again on his blog.
(Marty, you get softball lob type questions and milk them for all they're worth on your own blog, come into the shark pit and let's see if your arguments hold water).

-----------

As I originally mentioned, Armstrong lives in his own little world where he alone is Omnipotent.

However, (and true to form, there's almost always an however)  Armstrong studies history and reflects upon it.
He hates out-of-control, run amuck government.  There's hope for him yet if could just get past his sense of self importance.

 

 

Sun, 04/19/2015 - 23:05 | 6010081 LibertarianMenace
LibertarianMenace's picture

Distributed, localised control is always superior to its centralised counterpart. Always.  "Wildcat Banking" is just another example of the rule, not an exception.

Sun, 04/19/2015 - 12:10 | 6008516 CHC
CHC's picture

We can talk all we want and for as long as we need but nothing will EVER change.  Why would it - they're in charge and that's it - we literally have no say.

Sun, 04/19/2015 - 13:07 | 6008644 Consuelo
Consuelo's picture

"Hey Frank - ju know what a hassa is...?   It's pig that don't fly straight..."

 

 

Sun, 04/19/2015 - 12:13 | 6008520 BeerMe
BeerMe's picture

Martin Armstrong can keep his central banks.

Sun, 04/19/2015 - 13:18 | 6008669 Kimo
Kimo's picture

The purpose of central banks, is to defy the invisible hand.  Good luck with that.

Sun, 04/19/2015 - 12:21 | 6008531 Arius.
Arius.'s picture

Question, didn't the US benefit from the Dollar?

 

my humble guess would be that the FED and the Dollar were instrumental on the last century historical success of US ... i am not a financial expert or economist

Sun, 04/19/2015 - 12:21 | 6008541 LouisHill
LouisHill's picture

Interesting Story, But I believe Tyler eventually vetoed the Third US Bank so it never existed.

Sun, 04/19/2015 - 12:30 | 6008559 BeerMe
BeerMe's picture

Armstrong seems to be making shit up.  Tyler veteoed Clay's national bank twice!  In fact the Whigs were so pissed off they kicked Tyler out of the party.  He was also threatened with assasination.

Sun, 04/19/2015 - 12:40 | 6008587 Mister Delicious
Mister Delicious's picture

the fed is owned by european jewish banking families who give the government pieces of paper in exchange for tens of billions of dollars and tremendous power.

Oh and the enslavement of everyone, regardless of creed or color or favorite local sports team, who works for pay.

And we can't get people to want to end it?

You have to ***consider*** that the rot goes so deep now... "America" is dead and gone and what remains just isn't worth saving.

http://en.wikipedia.org/wiki/United_States_military_casualties_of_war

Sun, 04/19/2015 - 12:45 | 6008598 MATA HAIRY
MATA HAIRY's picture

being jewish is not the crucial factor--being rich is.

 

Even if every single jew disappeared tomorrow, there would still be rich people using their wealth to control the gov't to exploit us.

 

 

Sun, 04/19/2015 - 12:50 | 6008610 Mister Delicious
Mister Delicious's picture

I don't recall saying that it was crucial.

Although might it not have a tad to do with this nation of 320 million people, 98% not Jewish, being a slave to the Jewish State of Israel in the Levant?

I've only said that
a] it is the case and
b] one should be able to state that which is the case

The Federal Reserve Cartel: The Eight Families

http://www.globalresearch.ca/the-federal-reserve-cartel-the-eight-famili...

http://www.globalresearch.ca/who-owns-the-federal-reserve/10489

I hear you, but the idea that the 'jewishness' is of no import is prima facie absurd.

As it would if they were all Saudi, or Mormon, or Estonian - but Zionistan seems especially prone to deal death, racism, hate, espionage, false flags, and the subjugation and destruction of nations.

http://www.globalresearch.ca/greater-israel-the-zionist-plan-for-the-mid...

Let us not lose sight of the facts merely to appear decent.

Let us be decent, keep the facts, and if accused of being indecent, or false - why, we'll know who the liars are.

Sun, 04/19/2015 - 14:43 | 6008824 ThroxxOfVron
ThroxxOfVron's picture

"Let us not lose sight of the facts merely to appear decent.

Let us be decent, keep the facts, and if accused of being indecent, or false - why, we'll know who the liars are. "

 

Indeed.

Facts cannot be indecent.  Only lies can be indecent.

The truth does not impune the innocent.

Sun, 04/19/2015 - 12:53 | 6008596 MATA HAIRY
MATA HAIRY's picture

jefferson, madison, hamiliton, washington, et al., were all just lying plutocrats, just like the high level politicians of today are. Don't take them at their word. They lied. They lie today. They always lie.

 

They should have been hung by the people of that day before these evil plutocrats stole democracy by replacing the articles of confederation with the anti-democratic constitution.

Sun, 04/19/2015 - 13:23 | 6008676 Kimo
Kimo's picture

Thank god they did not conceive of a democracy, but a republic.  careful of what you wish for, Mata, or you may get voted off the island.

Sun, 04/19/2015 - 15:58 | 6009012 rejected
rejected's picture

I tend to agree...

It was Washington that signed the bank into law... Said he thought it might be unconstitutional but signed it anyhow.

Now one would think those of the time would be sensitive to the issue.

Hamilton was a bankster from the beginning... Jefferson, Madison, not so much. What strikes me is they did not question the bank.

As I have stated before, this could not have been done with the Articles... which is why they went to a constitution for a strong central government.

They said that,,,, not me.

The constitution was the first step to tyranny. The South found that out the hard way and Jackson only delayed the Central Bank.

We have crossed the Rubicon... there is no peaceful return

 

EDIT: Some conflate Democracy and a Republic which is a represented democracy but quibbling over technicalities is not my point. Both terms are correct,,, in their own way.

Sun, 04/19/2015 - 16:27 | 6009136 MATA HAIRY
MATA HAIRY's picture

wow...you are WAY out on the right hand side of IQ/Knowledge for online commentators. What is your background?

Sun, 04/19/2015 - 12:55 | 6008618 Vin
Vin's picture

It sounds like years in a prison cell have softened Armstrong's mind to the leanings of is persecuters.

Armstrong likes to point out that the rationale for forming the Fed (liquidity needs) was a justifiable goal and the politicians are to blame for its deformation.  HAHAHAHAHAHA!

Give me a break, Martin, of course the initial goal was justifiable.  That's why it was used to establish the beast that became the Fed.  The monied interests of the day, which are the same monied interests of today, played out their plan perfectly.....establish a central bank with a legitimate goal and then pay off or kill anyone that limited their ability to morph that bank into controlling the American currency.

Martin, you sound like a fool.  The politicians do the bidding of whoever owns them, which included throwing you in prison.  Please don't pretend to defend the existence of the FED.  They must have threatened you with more prison time.

Having a private lender of last resort in no way legitimizes giving unconstitutional powers to control our currency.  We've been pillaged for over 100 years by these scumbags and their pattsies in Congress, the WH and Supreme Court.  The monied powers have always been our greatest enemy.

Sun, 04/19/2015 - 13:08 | 6008649 Kimo
Kimo's picture

Most telling: Armstrong acknowledges that the perfectly conceived FED was fatally compromised by 1914.  Yet he thinks it should be reverted as intended in 1913 to go forward, as if the result would somehow be different that second time around.  huh?

Sun, 04/19/2015 - 18:19 | 6009353 essence
essence's picture

It is recorded, in letters written by Daddy Warbucks himself - Paul Warburg, (after the institution of the Fed), he was writing that what hadn't been specified in the original charter of the Fed  ...could be achieved administratively.
sounds like a premeditated power grab to me.

Armstrong is this apologist for the Fed. He infers the pure-as-snow Fed heads were FORCED into servitude by evil politicians. Historical records belie that. (note... pre u.s. ww1 involvement .... it was the banks leading the charge for u.s. joining the war ---to protect their loans to England and France). Armstrong is this self-proclaimed high-priest of history, only he appears to cherry pick the facts to suit his viewpoint.

Perhaps Armstrong can explain Paul Warburgs son James, testifying in Congress (1950's) that "by consent or force, there would be one world government".  Oh, that's just conspiracy stuff,   .....would that be your argument Martin?
Anything you can't explain get a blanket dismissal. That has been your operating procedure in the past. Don't address awkward issues, just give the perfunctory buzz word dismissal.

There are no conspiracy's, just misunderstood bankers meeting in secret at Jekyll Island to do what's best for the country. Right!

 

Sun, 04/19/2015 - 13:24 | 6008682 Jonesy
Jonesy's picture

Family of thieving Jew gets their smuggled coins back, because laws are for the Goy.

"The government had long suspected without proving that the late Israel Switt, a gold dealer and father of Joan Langbord, had smuggled some of the coins with the help of a Mint employee."

http://www.huffingtonpost.com/2015/04/17/double-eagle-gold-coins_n_70874...

Excuse the link to rag Huffpost.

Sun, 04/19/2015 - 14:03 | 6008755 brodix
brodix's picture

To budget is to priritize one's needs and desires, then spend reasonably, but the government doesn't budget. They write these enormous bills, add enough extras to get sufficient votes and then the president can only pass or veto it in whole.

 If they wanted to actually budget, the legislature could prioritize by breaking these bills into their various "line items," have every legislator assign a percentage value to each item and reassemble them in order and preference. Then the president would draw the line at what is to be funded. 

 As there would be no cover for the president for overspending and any item not making the cut would lack sufficient backing to override, the deficit would quickly shrink, but the economy as we know it would sieze up the next day, as the ability to create government backed currency would rapidly shrink.

 This would create the need for local communities to create their own voucher systems and use any profit generated as a form of local taxation, keeping the value in the community creating it.

 

Sun, 04/19/2015 - 14:40 | 6008817 Banananomics
Banananomics's picture

The caricature should be a very steep template for Banzai.

Sun, 04/19/2015 - 15:03 | 6008863 cheapy
cheapy's picture

To borrow money and expect someone else to sacrifice in order to pay it back is wrong...

Once it starts, where does it end? Look to the Continental Dollars and Assigats for the answer...

Jefferson and Jackson were right and Jackson needs to remain on that $20 bill to remind people how foolish, immoral and eternally damning this debt is.

"Jefferson’s views on debt was the critical point that Jackson followed. Debts passed on to children that neither voted for nor approved of them, are a blatant example of taxation without representation in the Jeffersonian view of life. When Jackson first ran for president in 1824, he denounced the debt as a “national curse.” He vowed to “pay the national debt, to prevent a monied aristocracy from growing up around our administration that must bend to its views, and ultimately destroy the liberty of our country.”

Thomas Jefferson considered excessive debt immoral, and he advocated paying off debts within a generation (i.e., 20 to 40 years at the time). This was the taxation without representation that children must pay for debts they did not create nor benefit from. Andrew Jackson was following in Jefferson’s footsteps as he sought to pay off the national debt during his presidency (1829-1837)."

Sun, 04/19/2015 - 15:10 | 6008882 kchrisc
kchrisc's picture

Jackson ultimately failed against the banksters because he didn't also try and guillotine the banksters for their frauds and thefts.

Let us not repeat that failure in the future.

The banksters need to repay us.

 

The banksters are much like a bevy of rats in the wheat storage--they steal some each day, and assure starvation in the mid of winter later.

Sun, 04/19/2015 - 16:28 | 6009139 JamaicaJim
JamaicaJim's picture

True. At least Andy was against the fuckers.

Now we have some progressive/liberal cunts wanting to replace Hickory on the $20 with ....fuckin Rosa Parks.

Fucking please.

Sun, 04/19/2015 - 20:58 | 6009778 kchrisc
kchrisc's picture

"Now we have some progressive/liberal cunts wanting to replace Hickory on the $20 with ....fuckin Rosa Parks."

Always about money, power, and division.
Don't let them take it. Don't let them have it. Don't believe it.

The banksters need to repay us.

 

In the end there will be no place for Rosa Parks' image on a gold or silver coin.

Sun, 04/19/2015 - 15:27 | 6008940 atthelake
atthelake's picture

Loans made with fraudulent, or traitorous, intent do not have to be paid back.

Sun, 04/19/2015 - 15:58 | 6009044 the great rift
the great rift's picture

I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.globe-report.com

Sun, 04/19/2015 - 19:12 | 6009472 sam site
sam site's picture

 

So the real problem was the accumulated debt by 1829 that Jackson paid off with tarriffs that caused the civil war. 

So this just shows how screwed up everything can get with government debt.  No wonder Jefferson wanted to ban government debt and wanted only gold and silver coin to insure against it.

 

Sun, 04/19/2015 - 19:49 | 6009546 WOD
WOD's picture

The American Revolution began today. Take your Governance back by actively participating in it at the County level. Hold your Sheriffs and County Commissioners accountable. Start small, but remain persistant. We The People ARE the Government.. not those elected to Represent us...

Sun, 04/19/2015 - 21:38 | 6009865 69BIGDOG69
69BIGDOG69's picture

Re: "In this vain of thinking."  No.  "In this vein of thinking."

Sun, 04/19/2015 - 21:44 | 6009884 69BIGDOG69
69BIGDOG69's picture

Re: "The Second Bank of the United States chartered in 1816 ceased to exist in 1836."  Not quite.  The bank lost its charter as the US' central bank in 1836, but existed for two more years after that.

Sun, 04/19/2015 - 22:03 | 6009923 patriotone
patriotone's picture

Jackson was a crook. Arrow Burr got him elected. Jackson destroyed the bank at the behest of Wall Street and London. The destruction of the bank lead to the civil war. Read what Hamilton believed the purpose the national debt should serve. Jackson betrayed the nation by crushing the very thing that helped fund and build the nation in favor of wall Street controlled banks. KNOW YOUR HISTORY,  SEE THROUGH THE LIES

 

http://www.schillerinstitute.org/educ/hist/ahc_andy_jackson_treason.html

Sun, 04/19/2015 - 22:03 | 6009925 patriotone
patriotone's picture

Jackson was a crook. Arrow Burr got him elected. Jackson destroyed the bank at the behest of Wall Street and London. The destruction of the bank lead to the civil war. Read what Hamilton believed the purpose the national debt should serve. Jackson betrayed the nation by crushing the very thing that helped fund and build the nation in favor of wall Street controlled banks. KNOW YOUR HISTORY,  SEE THROUGH THE LIES

 

http://www.schillerinstitute.org/educ/hist/ahc_andy_jackson_treason.html

Sun, 04/19/2015 - 23:42 | 6010162 RMolineaux
RMolineaux's picture

This article contains excellent information but the drafting and editing are poor.  No logical sequence or temporal sequence is applied.

Do NOT follow this link or you will be banned from the site!