by Mike Gray

On WND, Vox Day believes the international bankers, claiming they are indispensable, have pushed the United States’ economy into a corner, forcing legislators to make decisions that will please some but harm many:

The problem is that for the last 20 years, under political pressure from the banks, both political parties have colluded in eviscerating the legal system of property rights that economist Hernando de Soto has demonstrated is required for a capitalist system to generate wealth. This short-sighted financial rapine has not only ruined the economy, but may have even managed to permanently damage the wealth-producing infrastructure of American society.

This has already happened at least once before in U.S. history:

[In the 1830s] the bankers were inflating the money supply, speculating with the bank-created funds, paying themselves massive bonuses out of the profits whenever they won and sticking the taxpayers with the losses whenever they lost. And, just like Henry Paulson during the 2008 financial crisis, they falsely claimed that what was bad for them was bad for the country and that permitting them to experience the consequences of their failures would have a terrible effect on the American people.

In 1833, Andrew Jackson called their bluff, refused to renew the charter of the Second Bank of the United States – the first had failed in 1811 – and withdrew the federal government’s money from it. Forced to operate as an ordinary bank without the benefit of a legally enforced federal monopoly, the financial geniuses who had asserted that the wealth of the country completely depended upon them went bankrupt in five years. The American people, on the other hand, went on to become the wealthiest and most powerful nation in the world despite the absence of a central bank and a bloody civil war less than 30 years later.

Read the entire article here.