Quote by Thomas Jefferson
If Americans ever allow banks to control the issue of their currency, first by inflation and then by deflation, the banks will deprive the people of all property until their children will wake up homeless
Summary
This quote is a warning about the potential consequences of granting too much power to banks in controlling currency. It suggests that if the control over currency supply rests solely in the hands of banks, initially they may create inflation to decrease the value of money and subsequently use deflation tactics to reduce available currency. As a result, the people would gradually lose ownership of their assets, leading to a future where even their children might find themselves without homes or property.
Topics
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