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James Madison: The Constitution vs the National Bank In 1791, James Madison gave two major speeches on the National Bank, opposing it primarily on grounds that it wasn’t a power expressly delegated in the Constitution. He also rejected claims that used the general welfare and necessary and proper clauses, along with the power to borrow money, and the preamble. Path to Liberty: April 14, 2021 ....
Regular readers of Alt-M don t need to be told that yours truly is no fan of the Fed s gigantic credit footprint. Even before the recent crisis, he lamented both the extent to which the Fed went from merely regulating this nation s short-term money market to being its short-term money market, and the switch to an abundant reserve or floor operating system that made a bigger Fed footprint inevitable. By the time the Great Recession ended, the Fed s balance sheet was more than four times as large as it was in mid-2008. And now, thanks to the COVID-19 crisis, it has doubled in size yet again, to just shy of $7.6 trillion. ....
Spread the love COMMENT: Hi AE….just an observation for you. Altho’ you have mentioned your disagreement with the points of view of such people as Ed Griffin (The Creature From J Island), Ron Paul (End The Fed), & Jeff Berwick (current best seller is Controlled Demo of The US), all of you are in agreement about the total & utter corruption of the US, & other, gov’ts. I would say further that it seems it took you longer to get there than the others, in realizing the depth of the problem, not wanting to use the conspiracy word. So…big picture, you’re all in agreement, but the details cause disagreement. I think your “defense” of the existence of the Fed doesn’t really matter, as there’s not gonna be any Fed, or anything like it, after the civil war has run its course. Just my thoughts, not a personal attack. Absolutely LOVE your blog….am hooked, like an addict. ....