TED Conversations

Tom Britton

Director, Teacher, Language School

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To what extent are Americans worried about the fact that the Federal banking system is a private institution?

Is the privatisation of the Federal bank (to 10 stake holders) part of the American capitalist dream of freedom? To what extent does the general American public attribute the national debts of the U.S to abuses by the Federal bank? Is it abuse at all or is it in fact a justifiable part of American freedom? Do Americans think that it is, for any reason at all, justifiable to put a debt on every piece of currency that enters circulation? If the Federal bank was not a private institution, what would happen to America?


Closing Statement from Tom Britton

Thanks to everyone for your input. I look forward to seeing how far the central bankers will go before the majority of the general public starts realising what is going. I suspect all of us lot will be long gone by then, if it ever happens.

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  • Oct 18 2013: I find this discussion interesting. In 1832, Andrew Jackson vetoed the bill to extend the charter of 2nd Bank of the US. In his message why he vetoed the bill, he listed the following reasons:
    It concentrated the nation's financial strength in a single institution,
    It exposed the government to control by foreign interests,
    It served mainly to make the rich richer,
    It exercised too much control over members of Congress,
    It favored northeastern states over southern and western states,
    Banks are controlled by a few select families.

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