Today's Quotes - Fed and Monetary Policy

When the President signs this act [Federal Reserve Act of 1913],
the invisible government by the money power -- proven to exist
by the Monetary Trust Investigation -- will be legalized.
The new law will create inflation whenever the trusts want inflation.
From now on, depressions will be scientifically created.
-- Charles A. Lindbergh, Sr.
(1859-1924) Congressman (R-MN), father of famous aviator
Source: U.S. Senate, Nov. 1912

"If Congress has the right under the Constitution to issue paper money,
it was given to be used by themselves, not to be delegated to individuals
or corporations."
-- Andrew Jackson
(1767-1845) 7th US President

"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
(1767-1845) 7th US President
Source: in 1836, Jackson forced the closing of the Second Bank of the U.S. by revoking its charter

"The bold effort the present bank had made to control the government
... are but premonitions of the fate that await the American people
should they be deluded into a perpetuation of this institution or the
establishment of another like it."
-- Andrew Jackson
(1767-1845) 7th US President
Source: To Congress in 1836, Jackson closed the second Federal Bank (est. 1816) with these comments