“No government should be without critics. If its intentions are good then it has nothing to fear from criticism.” - Thomas Jefferson One of my favorite quote...
"And I sincerely believe with you, that banking establishments are more dangerous than standing armies; & 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, in a letter 1816
@@PlasmaSnake369 No he was not. Hamilton told the bankers what to do. They did not tell him what to do. Hamilton made the bankers his bitch, which is exactly the right thing to do. If there were a Hamilton around today we wouldn't be in this shithole.
@@lupinthethird5784 I really don't think so. Hamilton believed the bank should be owned by the people of the United States not the private banking industry.
@@abrahamlincoln5185 Wouldn't that prove Jeffersons point that a central bank would lead to corruption? Even if Hamilton was pure of heart and wanted what is best for the the country eventually someone would use that power to fuel there own agenda.
No he wasn't lmao. The debt itself has literally no connection to the bank, it is just where the debt is held. You think the US just would've operated perfectly fine without having to accumulate debt? Unfortunately our elective process encourages gutting taxes so it's really the only way to accomplish anything.
@@thekillers1stfan Yes he was, lmao. Accumulating debt was not his issue. His issue was creating the central banking, solidifying central power in Washington, and knowing that we would one day end up where we are, on the verge of collapse.
Jefferson later used the same loose interpretation of the constitution for the Louisiana Purchase. Clearly shows that, even for Jefferson, abiding to the strict definition was not always beneficial for the nation.
To my understanding, Jefferson at least recognized that it wasn’t a valid constitutional action, unlike Hamilton who actively twisted and ignored original intent.
@@TheBloodsuger150 Central banks print money out of thin air and loan it to governments, *BUT CHARGE INTEREST.* In order to pay the *Principle* plus the *Interest,* more money must be printed. It's a Ponzi scheme. Shouldn't the government and *not* a third party then be in charge of the money?
Jefferson had no better alternative. Hamilton was a genius and created a working system that outlasted Jefferson's ideals. He didn't even need to be loved by the public to do this. Jefferson was an uncontrolled idealist and didn't have what it takes to turn YOUR country into a superpower.
@@jfrd-pw4hk Imagine being so morally and scientifically ignorant/spineless that you measure the value of any idea or system according to how many time it lasted. Slavery lasted for millenia. Your criteria is purely arbitrary and stupid. The Hamilton proposal is not more stable or benefitial to the country either.
Hmmmm what about during a huge crash, and you lose all your savings. Government to back that up makes sense, so people don’t lose all they have earned (FDIC)
Naive. Read about why debt-backed currency was created in the first place. And read about why the Federal Reserve was created as a private institution.
@@Stretch501st Crashs were always created by the same people who have huge amount of gold and can use it to manipulate and create depressions, so as to argue that we NEED central banks, hints the great depression, and now we live back under the thumb of central banks, and no longer a free nation
Bankers would have lobbied against losing power. Hamilton's Central Bank paved the way for the Federal Reserve in 1913, funded both World Wars, and as result allowed the Golden Age of Capitalism.
This has to be the worst interpretation of that feud anyone has ever tried to portray. Hamilton essentially wanted the fed before the fed. He wanted the ability to make up money out of thin air and make the American people pay for it. "Change my mind"
@@anoon- nope. The federal reserve is 107 years old. This is the 3rd iteration of a national bank in the US. The other 2 were dismal failures and politicians at the time had the balls to stop it. The current one is clearly a dismal failure as well. Unfortunately politicians are bought off by the banking cartel so they refuse to end it. All in due time though.
The incredible life of Alexander Hamilton: the secretary of treasury that was born an illegitimate son, immigrated to America, fought for the revolution and became a rapper.
What is the purpose of the Department of Treasury if not to perform services currently delegated to the "Federal Reserve"? Was't the Office of the Comptroller of the Currrncy created in 1863 to do what the Federal Reserve is now doing?
Used to work at OCC. They only regulate for the banks that are under the Federal Reserve, to make sure they have policies in place that favor the fed, not keep it in check.
Economic miracle? Look at our national debt, its quite the opposite of miracle. In fact, its an economical tragedy. A child born today, in the USA, starts life off with close to $60k in debt. Yeah, miracle is the word Id choose 👌
In fact, being born in America is one of the biggest privileges in the world. Stupid politicians driving everyone into debt is something else. We can stop it by voting right.
Lockdowns are doing lots of things. Wedging families apart is one of them. As a son I fear not holding my mother's hand as she passes. These restrictions and policies threatens to prevent me from doing that. I believe to give my mother last rights and to comfort her passing is my basic human right.
It's too bad that we cannot get a reasonable dialogue on the benefits or detriments of central banking. The truth is that the central bank (Bank of North America) that was started due to Hamilton's efforts was eventually closed. Not only was this bank closed, but two successive attempts to start a central bank were also eventually stopped (Bank of U.S. #1, and Bank of U.S. #2). Today, we have had our Federal Reserve central bank for over a century, and there is broad skepticism of it with the End the FED movement. Where is a source that describes the benefits and problems of central banking... objectively?
looking for hamilton fans who smiled at words that appear on the lyrics of some songs.... latin americans loving the usa revolution through music is my jam
Central Bank is one thing, which there is a strong case for. Creation of the Fed in the 1900s is another where we can now print money based on debt rather than real assets (such as the Gold Standard). THAT, is the problem of today. Jefferson was right about special interest groups and consolidation of power to the central government; it has happened in this country.
This argument over more people power vs more gov power is still going on today. Its the same issue of Privacy vs Security. Do you want to make sure that we have the ability to combat the evildoers, or do you want to respect the peoples right to privacy. There is no right or wrong answer really. People want to think that there is. but there isn't. Its all a monotone grey area of many possible answers. Most of all politics is like that and it always will be. we hate each other for viewing the world from different angles. we debate it. and we slowly change over time to match the ideals of how humanity changes. Peoples views on the world change. People hundreds of years ago saw slavery and viewing women as inferior. that's just what people thought was normal. if you grew up seeing nothing but that, you get used to that and that's all you know. We have changed MUCH sense then. not necessarily all at once but slowly over time peoples views changed. When the civil war happened, did that stop slavery and end racism? No. We still kept that shit up all the way until the 1960s. That is VERRY recent in our history. it took a long time to change and it was never all at once. Change doesn't happen in a night or year. change is one of a million steps and actions + time.
"There is no right or wrong answer" I disagree. There is nothing right about taking away individual rights. Either you believe that morality is objective, or you don't.
You say that America has become an economic power thanks to Alexander hamilton and the founders would be amazed at today. would they though? we're the wealthiest nation, but we're also the one with the largest debt, and it's because of printing and spending. so I think that Jefferson was ultimately right.
Fundamentally, Hamilton made us a wealthy nation, but I don't necessarily think that is also why we are in debt. Regardless of whose ideals won out, the United States would be in debt regardless. Considering how the nation centuries ago after the American Revolutionary War ended was in debt thanks to that war, the National Bank was inevitable whether Hamilton's national bank had become a thing or not. But the debt we have today is really because of the government's terrible spending habits today, and it shows with Afghanistan.
Eisenhower helped win WW2, and balanced the budget. All with the Fed and Central Bank being present. Proving that the causes for the issues is far more complex.
U.S. Constitution › Article I Section 8. To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures; To provide for the punishment of counterfeiting the securities and current coin of the United States; Section 10. No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; Management of the currency is the direct responsibility of Congress and cannot be delegated out, unless by amendment. Therefore the Fed (The federal reserve act of 1913) is unlawful / unconstitutional. A violation of the 5th, 9th, 10th and 14th Amendments of the Constitution.
It goes deeper than that. We all know now how bad socialism (and ultimately centralization) works, but most people before the 20th century would've thought it was a good idea. In fact most societies throughout history were in favor of centralized control. All of the Founding Fathers (except for Hamilton lol) and Andrew Jackson among others were ahead of their time.
In modern times, the cycle of debt and the risk of corruption are major concerns. When individuals or small businesses owe money to larger entities, and those entities in turn are indebted to even bigger institutions, it creates a chain where the small players often lose their independence. This situation is worsened when those who hold economic power also influence politics, leading to decisions that favor the powerful and increase the gap between different regions or groups. Such a system not only traps people in debt but also opens doors to corruption, threatening the fairness and freedom that modern societies strive for.
So it's some guy's fault from a few centuries ago that the United States is in some debut right now? Not any of the ridiculous spending from our politicians today, like the amount of spending on our military?
The blame for the mess we're in now goes to every single president from LBJ forward with the possible exception of Clinton. Even Trump, the best president of my lifetime, failed us with respect to the national debt.
The Necessary and Proper Clause was designed around the idea that, as times change, different governmental powers and departments will be needed to address new issues the founding fathers hadn't thought of. This clause grants the government the authority to do that. It was meant as a safety net for the unpredictable nature of society and the government. The issue arises with the vagueness of the article. Whatever is deemed as "necessary and proper" is up to the individuals running the government at the time, which we do have instances where this resulted in problems for future administrations.
However valid the claim for a private national bank may be, it doesn't eliminate the human condition to engage in corrupt acts. Whether a government or private national bank exists, the checks and balances for accountability to the population need to be widely agreed upon and then strictly enforced to keep the balance of monetary and political powers against society at bay. The general public has absolutely no idea who owns the Federal Reserve Bank or what specific financial transaction details are on its books. At least with a government ran central bank, there would be a level of scrutiny and accountability to the general public for where the tax dollars are going. "No taxation without representation" means that people should be able to chose what their money is spent on and their ROI in detail.
@@sleeexs Crypto Currrency still doesn't eliminate the possibility of corruption. And in many cases might make it worse, in cases of human traffiicking and human rights violations.
So The Federalist are pro private central bank? We don’t have a national bank run by government with government oversight that Washington signed into law and Hamilton initially argued for. So if they came back they’d have to be briefed on legislation crafted on Jekyll Island.
Hamilton was right in that his vision was the direction America needed to go. Jefferson was right in how highly abusable it was. No matter how much we want to debate and say which side is right or wrong, the reality is this: government is flawed, because PEOPLE are flawed. This is an imperfect world filled to the brim with messy people from all walks of life, and the Founding Fathers knew that as well. I'm happy to have lived in this country.
"No vision is right because its a complex matter." How do you discern your daily life and take actions which you deem to be fitting? Life is complex, and there are always answers, rights and wrongs, complex or not.
Hamilton was right in his intentions and, without a doubt, would have made a successful central bank. However, the legacy of statesmanship from Washington and Hamilton was not passed down to generations.
Jefferson (and Madison) were against the bank because it will centralize too much power to the Federal gov't over the State gov't. They used the argument that "the power of creating the National Bank isn't explicitly written in the U.S Constitution." So no National Bank. Hamilton uses the Elastic Clause in the U.S Constitution with the argument that "implied power from the Elastic Clause authorizing Congress to enact any law that is necessary for the country. And if Congress has the power to regulate commerce and economy, they must have the power to establish the bank to ensure its duty can be carried out." This was settled down by the Compromise of 1790. It is very interesting that these 2 (or 3) Founding Fathers who both advocated for ratification of the Constitution have such different views. At the end of the day, it is not about the national bank, it is about big vs small gov't. At that time, I believe Hamilton is right. The U.S nation is weak at that time, and a strong gov't is needed for binding the U.S states together. It also created the U.S international credit, which later helps this country as the most prosperous country on Earth. Later, guess how Jefferson funded the Louisiana purchase (using international credit established by Hamilton and compromising his most sacredly-held principle "Small gov't with strict authority from the Constitution." At least, Jefferson felt bad about this and even wanted to submit a constitutional amendment to validate his authority for the Louisiana purchase). And you know what, Madison, who opposed fiercely the creation of the 1st National Bank, reluctantly created the 2nd National Bank to deal with the financial crisis after the War of 1812 with Britain.
The biggest problem with the current Federal Reserve was one it was unconstitutional when first created in 1913 and two it’s a weird half-public half-private entity. I believe first there should be an amendment to make it legal then it should just be fully nationalized, but it should be relegated to merely a lender of money and not money printer go burr.
Its easy with hindsight to say it was a mistake but i understand where hamilton is comming from though now i do think its time to break up the central bank for the purposes of trying to get our economy back under control
I am a descendant of hamilton, tho he was absolutely wrong on this debate i must say it. Read the book "a history of central banking, and the enslavement of mankind". Great book a must read.
Gold and other precious metals are finite, so manipulation of their value is easy. Fiat currency, though technically unconstitutional, is easily the most useful for flexibility reasons. The problem lies in the fact that interest is attached to every dollar and cent created. Simply put, there is never enough money in existence to pay in full the incurred debt, thus guaranteeing default. With a nation such as ours, our debt it so large that it is transferred, in perpetuity, to unborn generations for them to pay the unpayable principal and interest. There will come a point when the entire GDP will not be enough to pay a single payment to the Fed. Eventually, this continent, and our descendants, will be owned by another people just as Jefferson predicted. The only solution is for the treasury to directly issue currency, via collateral backed loans, without interest, outside of the grasp of a privately owned central bank where their charged interest is paid by unconstitutional direct taxation on wages. Though not impossible , it is hard to enslave a man without first enticing him into debt, without which the perpetrator's success becomes pyrrhic.
#1 Sign your new country is too big and ambitious to be sustainable: 90% of citizens can only comprehend your financial plan when presented as a 🎶 😎 hip hop musical! 🎶 😂
*well. glad that all worked out then.* maybe try monkeying blindly w interest rates & no regulation of rent-seeking theft? did we try that? how about, if you are already wealthy: we give you a printing press. that may work. _JC
Paterson had an 80 Hamilton St food stamps and social security that building is closed know and there a building around the corner name Robert Roe federal building Roe vs wade abortion skid Row sht underware if you don't like social security then just don't talk about it
@Based And Red Beaned Thomas Jefferson: Owns slaves his entire life. Based And Red Beaned: He only owned them once though!!!! How is that bad if it only happened one time?!?!?!?
@@designingsean Federal reserve is corrupt and you are wrong. It’s not government operated and is private. No idea who runs it publicly (definitely the rothschilds). It controls the government. Congress has no jurisdiction over it
Those same slaves used to cheer every time Jefferson came back from his many trips and they refused to give up Jefferson's whereabouts to the British even though guns were held to their heads and they'd have gotten freedom.
It is also important to note that this debate was settled by a rap battle
Facts
Historic. Fact.
Word
Nice!, I learned something today :)
HAHAHAHAH😂
“No government should be without critics. If its intentions are good then it has nothing to fear from criticism.”
- Thomas Jefferson
One of my favorite quote...
"And I sincerely believe with you, that banking establishments are more dangerous than standing armies; & 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, in a letter 1816
Wow. Quite true.
I think that what protected Hamilton's bank from accesses and abuse was the fact that it only had a twenty year charter.
@@jabujolly9020 Hamilton was a servant of the bankers
@@PlasmaSnake369 No he was not. Hamilton told the bankers what to do. They did not tell him what to do. Hamilton made the bankers his bitch, which is exactly the right thing to do. If there were a Hamilton around today we wouldn't be in this shithole.
@Jan 6 was "Wall Street Putsch" part 2 FDR was working from them. Presidents have been puppets from Woodrow Wilson on
Hamilton's central bank didn't even come to reality. Federal reserve is a big club for the private banking industry
Could the national bank system of the late 19th century be considered a manifestation of Hamilton's dream?
@@lupinthethird5784 I really don't think so. Hamilton believed the bank should be owned by the people of the United States not the private banking industry.
@@abrahamlincoln5185 Wouldn't that prove Jeffersons point that a central bank would lead to corruption? Even if Hamilton was pure of heart and wanted what is best for the the country eventually someone would use that power to fuel there own agenda.
@@zenithmoves5681 Yep, this is exactly what Jefferson knew.
James Madison made it then Jackson destroyed it. Rothschilds controlled them then and control the federal reserve today
“Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.” - Ludwig von Mises
200+ years later, 22 Trillion in debt and 180 Trillion in unfunded liabilities, we see that Jefferson was correct.
Yes . We’re in trouble.
No he wasn't lmao. The debt itself has literally no connection to the bank, it is just where the debt is held. You think the US just would've operated perfectly fine without having to accumulate debt? Unfortunately our elective process encourages gutting taxes so it's really the only way to accomplish anything.
@@thekillers1stfan Yes he was, lmao. Accumulating debt was not his issue. His issue was creating the central banking, solidifying central power in Washington, and knowing that we would one day end up where we are, on the verge of collapse.
@@rustusandroid We are not on the verge of collapse lmao
@@thekillers1stfan It's all funny to you, isn't it. lmao.
Jefferson later used the same loose interpretation of the constitution for the Louisiana Purchase. Clearly shows that, even for Jefferson, abiding to the strict definition was not always beneficial for the nation.
It was a good deal though
@@harveyquinn3535 It was. And purchasing land, a big asset for a country is good, but setting up a bank to rob generations of wealth and freedom
Tell that to the national debt that we have today.
The purchase was an asset. The central banking system is a liability.
To my understanding, Jefferson at least recognized that it wasn’t a valid constitutional action, unlike Hamilton who actively twisted and ignored original intent.
I think Hamilton's position would have been different if he could have seen where it took us 230 years later.
In debt by more money than exists thereby enslaving countless future generations... good job Hamilton.
@@joseluispcastillo and the alternative?
@@Castro0119mc print our own money.
@@joseluispcastillo so it’s worthless, starting a depression
@@TheBloodsuger150 Central banks print money out of thin air and loan it to governments, *BUT CHARGE INTEREST.* In order to pay the *Principle* plus the *Interest,* more money must be printed.
It's a Ponzi scheme.
Shouldn't the government and *not* a third party then be in charge of the money?
Jefferson warned us
We didn't listen
We ask for a free lunch
Now we will pay the price of this madness
Jefferson had no better alternative. Hamilton was a genius and created a working system that outlasted Jefferson's ideals.
He didn't even need to be loved by the public to do this. Jefferson was an uncontrolled idealist and didn't have what it takes to turn YOUR country into a superpower.
jfrd072891 being a super power isn’t worth it if you are not free.
Lockjaw you can. Look at Switzerland. No need to sign your post either this youtube you dont have to be so formal.
@@jfrd-pw4hk Imagine being so morally and scientifically ignorant/spineless that you measure the value of any idea or system according to how many time it lasted.
Slavery lasted for millenia. Your criteria is purely arbitrary and stupid.
The Hamilton proposal is not more stable or benefitial to the country either.
@@jfrd-pw4hk false propaganda but nice try.
No country needs a central bank of any kind. All you need is a good backed currency
The gold standard is where we should be.
Hmmmm what about during a huge crash, and you lose all your savings. Government to back that up makes sense, so people don’t lose all they have earned (FDIC)
Naive. Read about why debt-backed currency was created in the first place. And read about why the Federal Reserve was created as a private institution.
@@Stretch501st Crashs were always created by the same people who have huge amount of gold and can use it to manipulate and create depressions, so as to argue that we NEED central banks, hints the great depression, and now we live back under the thumb of central banks, and no longer a free nation
crypto
OK so now I got to start researching if Hamilton was lobbied by the bankers....
He was and sold out the country to form a "private" centralized bank.
He made wall street
"Power over a man's support is a power over his will." - Alexander Hamilton
Bankers would have lobbied against losing power. Hamilton's Central Bank paved the way for the Federal Reserve in 1913, funded both World Wars, and as result allowed the Golden Age of Capitalism.
finally someone who knows the history@@AYVYN
This has to be the worst interpretation of that feud anyone has ever tried to portray. Hamilton essentially wanted the fed before the fed. He wanted the ability to make up money out of thin air and make the American people pay for it. "Change my mind"
He was a traitor and died like one.
The national bank he proposed reminds me of the ruthless EU in a way...
The national bank exists 200 years later. Cope.
@@anoon- nope. The federal reserve is 107 years old. This is the 3rd iteration of a national bank in the US. The other 2 were dismal failures and politicians at the time had the balls to stop it. The current one is clearly a dismal failure as well. Unfortunately politicians are bought off by the banking cartel so they refuse to end it. All in due time though.
@@FunWithGuns "Good shot, Burr"
The incredible life of Alexander Hamilton: the secretary of treasury that was born an illegitimate son, immigrated to America, fought for the revolution and became a rapper.
Then tragically killed in a duel against his sons murderer
Aaron Burr had nothing to do with Hamilton's son's death.
@@Shawnpd72 Say what?
The parallel universe Hamilton, you talking about was a Puerto Rican rapper.
What is the purpose of the Department of Treasury if not to perform services currently delegated to the "Federal Reserve"? Was't the Office of the Comptroller of the Currrncy created in 1863 to do what the Federal Reserve is now doing?
The Federal Reserve is not part of the government. It's a banking vampire of the treasury.
Reas the beast from jekyll island
Used to work at OCC. They only regulate for the banks that are under the Federal Reserve, to make sure they have policies in place that favor the fed, not keep it in check.
Economic miracle?
Look at our national debt, its quite the opposite of miracle.
In fact, its an economical tragedy.
A child born today, in the USA, starts life off with close to $60k in debt.
Yeah, miracle is the word Id choose 👌
In fact, being born in America is one of the biggest privileges in the world. Stupid politicians driving everyone into debt is something else. We can stop it by voting right.
@@danield1414 Unfortunately, our politicians are chosen for us and voting them in and out is becoming more and more impossible
@@SarV1 what do you mean?
debt is actually a very useful tool, look at the series john adams
@@danield1414 by voting for Joe Biden! Who will print an extra $5 trillion dollars and God-knows-where that money will go
Jefferson would say... "I told you so" how's the family unit doing these days. How is the right to persue happiness holding up during lockdown?
This comment makes no sense
The central bank has corrupted the government and is stripping the people of basic human rights. Jefferson warned that it would happen and was right.
@@claytoncole3408 so you think that lockdowns are stripping people of their basic human rights?
Lockdowns are doing lots of things. Wedging families apart is one of them.
As a son I fear not holding my mother's hand as she passes. These restrictions and policies threatens to prevent me from doing that. I believe to give my mother last rights and to comfort her passing is my basic human right.
@@claytoncole3408 I hope your mother gets better and everything turns out okay
It's too bad that we cannot get a reasonable dialogue on the benefits or detriments of central banking. The truth is that the central bank (Bank of North America) that was started due to Hamilton's efforts was eventually closed. Not only was this bank closed, but two successive attempts to start a central bank were also eventually stopped (Bank of U.S. #1, and Bank of U.S. #2). Today, we have had our Federal Reserve central bank for over a century, and there is broad skepticism of it with the End the FED movement. Where is a source that describes the benefits and problems of central banking... objectively?
Economic miracle? Fiat printing from covid to zambawe
The economic miracle…./monster that America has turned into. Jefferson would smugly look at Hamilton and simply state “told ya”
How is it a monster?
@@USA_UNITED1776 you’d really look at this government bloated, trillions in debt, spending crazed, world police and think it isn’t?
Shut up you pretend to know something that you don’t even understand.
@@USA_UNITED1776 Unless your somebody's nephew.
Other way around. Jefferson would be terrified by private powers and Hamilton would laugh at him.
looking for hamilton fans who smiled at words that appear on the lyrics of some songs....
latin americans loving the usa revolution through music is my jam
Central Bank means a support system of huge corporate houses.
Hamilton definitely had the more modern way of thinking, he knew what the nation needed
He knew what the bankers needed.
After seeing this country 33 trillion in debt you still think a central bank was a good idea?
its not a central bank its private bank. @@ceelo206
Central Bank is one thing, which there is a strong case for. Creation of the Fed in the 1900s is another where we can now print money based on debt rather than real assets (such as the Gold Standard). THAT, is the problem of today. Jefferson was right about special interest groups and consolidation of power to the central government; it has happened in this country.
This argument over more people power vs more gov power is still going on today.
Its the same issue of Privacy vs Security. Do you want to make sure that we have the ability to combat the evildoers, or do you want to respect the peoples right to privacy. There is no right or wrong answer really. People want to think that there is. but there isn't. Its all a monotone grey area of many possible answers. Most of all politics is like that and it always will be. we hate each other for viewing the world from different angles. we debate it. and we slowly change over time to match the ideals of how humanity changes. Peoples views on the world change. People hundreds of years ago saw slavery and viewing women as inferior. that's just what people thought was normal. if you grew up seeing nothing but that, you get used to that and that's all you know. We have changed MUCH sense then. not necessarily all at once but slowly over time peoples views changed. When the civil war happened, did that stop slavery and end racism? No. We still kept that shit up all the way until the 1960s. That is VERRY recent in our history. it took a long time to change and it was never all at once. Change doesn't happen in a night or year. change is one of a million steps and actions + time.
"There is no right or wrong answer"
I disagree. There is nothing right about taking away individual rights.
Either you believe that morality is objective, or you don't.
Yes there is definitely a middle goldilocks point, however also on security and privacy there are definitely bad policies, like the Patriot Act
You say that America has become an economic power thanks to Alexander hamilton and the founders would be amazed at today.
would they though? we're the wealthiest nation, but we're also the one with the largest debt, and it's because of printing and spending. so I think that Jefferson was ultimately right.
Fundamentally, Hamilton made us a wealthy nation, but I don't necessarily think that is also why we are in debt. Regardless of whose ideals won out, the United States would be in debt regardless. Considering how the nation centuries ago after the American Revolutionary War ended was in debt thanks to that war, the National Bank was inevitable whether Hamilton's national bank had become a thing or not. But the debt we have today is really because of the government's terrible spending habits today, and it shows with Afghanistan.
not really lol
It’s because of the federal reserve.
You should actually pay attention to monetary policy.
Eisenhower helped win WW2, and balanced the budget. All with the Fed and Central Bank being present. Proving that the causes for the issues is far more complex.
The borrower is slave to the lender
U.S. Constitution › Article I
Section 8.
To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;
To provide for the punishment of counterfeiting the securities and current coin of the United States;
Section 10.
No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts;
Management of the currency is the direct responsibility of Congress and cannot be delegated out, unless by amendment. Therefore the Fed (The federal reserve act of 1913) is unlawful / unconstitutional.
A violation of the 5th, 9th, 10th and 14th Amendments of the Constitution.
I wouldn expect someone called "Cowen" to interpret this the right way
End the Fed
Now is there videos on everything that went wrong afterwards?
Jefferson was ahead of his time
It goes deeper than that. We all know now how bad socialism (and ultimately centralization) works, but most people before the 20th century would've thought it was a good idea. In fact most societies throughout history were in favor of centralized control. All of the Founding Fathers (except for Hamilton lol) and Andrew Jackson among others were ahead of their time.
In modern times, the cycle of debt and the risk of corruption are major concerns. When individuals or small businesses owe money to larger entities, and those entities in turn are indebted to even bigger institutions, it creates a chain where the small players often lose their independence. This situation is worsened when those who hold economic power also influence politics, leading to decisions that favor the powerful and increase the gap between different regions or groups. Such a system not only traps people in debt but also opens doors to corruption, threatening the fairness and freedom that modern societies strive for.
National debt of 30 TRILLION, I think the chickens are coming home to roost.
So it's some guy's fault from a few centuries ago that the United States is in some debut right now? Not any of the ridiculous spending from our politicians today, like the amount of spending on our military?
@@AweShiyte yes…..and Nixon for taking us off the gold standard. Those actions are what got this snowball rolling.
Nothing to do with Hamilton and everything to do with the welfare state.
The blame for the mess we're in now goes to every single president from LBJ forward with the possible exception of Clinton. Even Trump, the best president of my lifetime, failed us with respect to the national debt.
‘“Whatever is necessary and proper to achieve its ends” so basically it says I can do pretty much whatever I want.’
The Necessary and Proper Clause was designed around the idea that, as times change, different governmental powers and departments will be needed to address new issues the founding fathers hadn't thought of. This clause grants the government the authority to do that. It was meant as a safety net for the unpredictable nature of society and the government. The issue arises with the vagueness of the article. Whatever is deemed as "necessary and proper" is up to the individuals running the government at the time, which we do have instances where this resulted in problems for future administrations.
Machiavellianism is on US constitution - "by any means necessary"? Is that you calling implied power ln law? LOL
However valid the claim for a private national bank may be, it doesn't eliminate the human condition to engage in corrupt acts. Whether a government or private national bank exists, the checks and balances for accountability to the population need to be widely agreed upon and then strictly enforced to keep the balance of monetary and political powers against society at bay. The general public has absolutely no idea who owns the Federal Reserve Bank or what specific financial transaction details are on its books. At least with a government ran central bank, there would be a level of scrutiny and accountability to the general public for where the tax dollars are going. "No taxation without representation" means that people should be able to chose what their money is spent on and their ROI in detail.
Crypto currency
You can not inflate gold & silver, because gold & silver = labor
@@sleeexs Crypto Currrency still doesn't eliminate the possibility of corruption. And in many cases might make it worse, in cases of human traffiicking and human rights violations.
@@merlepatterson In bitcoin, mining = money just like with gold, labor produces wealth
@@merlepatterson Also human traffickong and human rights violatios have nothing to do with the devaluation of a currency
So The Federalist are pro private central bank? We don’t have a national bank run by government with government oversight that Washington signed into law and Hamilton initially argued for. So if they came back they’d have to be briefed on legislation crafted on Jekyll Island.
A good clip would be HBO's "John Adams". Stephen Dillane as 'Thomas Jefferson' and Rufus Sewell as 'Alexander Hamilton'.
Yeah, Hamilton would understand exactly how much 32 Trillion in Debt is as well as the likes of Goldman Sachs and Bernie Madoff
Jefferson WAS RIGHT!
What taxes did we have in 1798?! I don’t know why that’s an argument.
Jefferson was right
Hamilton was right in that his vision was the direction America needed to go. Jefferson was right in how highly abusable it was. No matter how much we want to debate and say which side is right or wrong, the reality is this: government is flawed, because PEOPLE are flawed. This is an imperfect world filled to the brim with messy people from all walks of life, and the Founding Fathers knew that as well. I'm happy to have lived in this country.
"No vision is right because its a complex matter." How do you discern your daily life and take actions which you deem to be fitting? Life is complex, and there are always answers, rights and wrongs, complex or not.
A National Bank is different from a Central Bank. This video is filled with lies.
"No generation has the right to spend more than can be paid for within its life" -Thomas Jefferson.
Federal Reserve: What inflation?
And then humanity went to sleep
The participation of Thomas DiLorenzo in this video puts its accuracy in question.
It all makes sense now!
Hamilton was right in his intentions and, without a doubt, would have made a successful central bank. However, the legacy of statesmanship from Washington and Hamilton was not passed down to generations.
Thomas Jefferson was really the first president that wasn’t in a corrupted state and REALLY wanted good for all the people
You only need a strong central government in times of crises. When there is no crises the central government should be in hibernation.
economic miracle .... let that sink in
Yup and 200 years later printable paper is worth more than property.
5:36 of my life I will never get back. Didn’t learn anything.
Take a look around you, Americans - do you think Hamilton's way is serving you well?
Hamilton is why we have a standing army and Federal over reach ... OG fascist and founder of the military industrial complex
Based Hamilton.
If New York is in debt, why should Virginia bear it?
who was against the creation of the National Bank and believed it was unconstitutional? SOMEONE HELP
jefferson :)
Jefferson (and Madison) were against the bank because it will centralize too much power to the Federal gov't over the State gov't. They used the argument that "the power of creating the National Bank isn't explicitly written in the U.S Constitution." So no National Bank.
Hamilton uses the Elastic Clause in the U.S Constitution with the argument that "implied power from the Elastic Clause authorizing Congress to enact any law that is necessary for the country. And if Congress has the power to regulate commerce and economy, they must have the power to establish the bank to ensure its duty can be carried out."
This was settled down by the Compromise of 1790.
It is very interesting that these 2 (or 3) Founding Fathers who both advocated for ratification of the Constitution have such different views. At the end of the day, it is not about the national bank, it is about big vs small gov't. At that time, I believe Hamilton is right. The U.S nation is weak at that time, and a strong gov't is needed for binding the U.S states together. It also created the U.S international credit, which later helps this country as the most prosperous country on Earth. Later, guess how Jefferson funded the Louisiana purchase (using international credit established by Hamilton and compromising his most sacredly-held principle "Small gov't with strict authority from the Constitution." At least, Jefferson felt bad about this and even wanted to submit a constitutional amendment to validate his authority for the Louisiana purchase). And you know what, Madison, who opposed fiercely the creation of the 1st National Bank, reluctantly created the 2nd National Bank to deal with the financial crisis after the War of 1812 with Britain.
Both were right , but I think Jeffersons viewpoint is proving to be prophetic
I can't listen to the Hamilton musical and not see Hamilton as the villain after knowing he brought the devil to Earth
Well 2022 here we are in a verge of a great depression. Lol
How did that work out? It’s a cycle, that was never going to happen
Nope. You people are so ridiculous. System has lasted for 200 years and it will continue.
the economic miracle??? LMAO
Feed and Fund our veterans..
Imagine that..
What do you mean for private individuals ? That's favoritism !
Hamilton was in the pocket of the European banking interests. The best shot Aaron Burr took was putting Hamilton down.
The biggest problem with the current Federal Reserve was one it was unconstitutional when first created in 1913 and two it’s a weird half-public half-private entity. I believe first there should be an amendment to make it legal then it should just be fully nationalized, but it should be relegated to merely a lender of money and not money printer go burr.
Its easy with hindsight to say it was a mistake but i understand where hamilton is comming from though now i do think its time to break up the central bank for the purposes of trying to get our economy back under control
" Economic Miracle" I guess it's all relative.
I am a descendant of hamilton, tho he was absolutely wrong on this debate i must say it. Read the book "a history of central banking, and the enslavement of mankind". Great book a must read.
I think I would have to agree with Jefferson on the issue of the national bank
???????????? Um what ?
*20th Century riddled with expensive world wars and economic crashes from deregulation*
Comments: Hamilton couldn't foresee our mild discomfort
"If you design something to be idiot proof, the universe will design a better idiot."
I swear, some people are as self-sabotaging as Dodo Birds
End the fed
Gold and other precious metals are finite, so manipulation of their value is easy. Fiat currency, though technically unconstitutional, is easily the most useful for flexibility reasons. The problem lies in the fact that interest is attached to every dollar and cent created. Simply put, there is never enough money in existence to pay in full the incurred debt, thus guaranteeing default.
With a nation such as ours, our debt it so large that it is transferred, in perpetuity, to unborn generations for them to pay the unpayable principal and interest. There will come a point when the entire GDP will not be enough to pay a single payment to the Fed. Eventually, this continent, and our descendants, will be owned by another people just as Jefferson predicted.
The only solution is for the treasury to directly issue currency, via collateral backed loans, without interest, outside of the grasp of a privately owned central bank where their charged interest is paid by unconstitutional direct taxation on wages.
Though not impossible , it is hard to enslave a man without first enticing him into debt, without which the perpetrator's success becomes pyrrhic.
This is NOT propaganda.
#1 Sign your new country is too big and ambitious to be sustainable:
90% of citizens can only comprehend your financial plan when presented as a 🎶 😎 hip hop musical! 🎶
😂
Thaddeus furrows, contiguous Appacchhos . Till blades come on top function of 3rd runner.
Wish Kennedy's executive order went through....
What was that?
@@MrTrephan executive order 11110
@@abrahamlincoln5185 that’s why he was assinated
No show blush.
Lol.. 666 in disguise, pretends too be the good guy, pretending to be holy, being deceived and deceiving many. Behold a pale horse . Lol paper money😂
I think the king's relationship with Jesus may be about the people just borrowing the king’s money with the misleading parties.
Jefferson tried to warn us
The house of Hesse and the house of Hamilton………..
TIL that Jefferson was right and Hamilton was wrong
Jefferson knew
*well. glad that all worked out then.* maybe try monkeying blindly w interest rates & no regulation of rent-seeking theft? did we try that? how about, if you are already wealthy: we give you a printing press. that may work. _JC
Jefferson was right all along.
Nope.
Dissolve our Republic
And 200 years later Jefferson is still correct.
Not at all.
"To feed and fund" the Ukraine state.
Juze...
UNIBANCO
BAIRRO AMARELO SUMARÉ RI CAIXA BACEM
PORTA DA ESPERANÇA MINHA CASA MINHA VIDA
It's simple jefferson was correct.
Paterson had an 80 Hamilton St food stamps and social security that building is closed know and there a building around the corner name Robert Roe federal building Roe vs wade abortion skid Row sht underware if you don't like social security then just don't talk about it
Hahaha it's all fucked.
Hamilton was a pompous ass not a "great mind."
Nope. He was perhaps our greatest Founding Father.
@@wyattmcgee1 Any uneducated dork who watches corporate MSM will think that.
สวัสดีคะใครบอกพวกคุณละคะว่าฉันแคนเชอร์
Javier Milei 😂
fed propaganda
Being that Jefferson's success was built on the back of slavery, I am going to go with Hamilton.
@Based And Red Beaned
Thomas Jefferson: Owns slaves his entire life.
Based And Red Beaned: He only owned them once though!!!! How is that bad if it only happened one time?!?!?!?
@@designingsean Federal reserve is corrupt and you are wrong. It’s not government operated and is private. No idea who runs it publicly (definitely the rothschilds). It controls the government. Congress has no jurisdiction over it
@@ispgravy4233 - and I mean this sincerely - there are a lot of decaffeinated brands on the market that are just as tasty as the original.
Those same slaves used to cheer every time Jefferson came back from his many trips and they refused to give up Jefferson's whereabouts to the British even though guns were held to their heads and they'd have gotten freedom.
@@jabujolly9020 So are you implying that slavery is OK as long as the slaves like their master?
Go Alexander Hamilton
Max Gutman criminal
Lol. You're literally funding the federal reserve right now. Slave.
@@BigShaneGillis are you saying Hamilton is a criminal cause if you are i wanna know what makes you think hes a criminal ??