the bankruptcy power
How can America be a super power if it filed for bankruptcy back in 1933?
Back in June 5 of 1933 America filed for bankruptcy and took loans out from the federal reserve. How can it be a super power then? America is bakrupt
The federal reserve isn’t even a government agency.
I guess Thomas Jefferson Was right when he said the following.
“I believe that banking institutions are more dangerous to our liberties than standing armies . . . If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] . . . will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered . . . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” — Thomas Jefferson — The Debate Over The Recharter Of The Bank Bill, (1809)
That was the fourth time. We are working on the fifth. Bear in mind, however, that national bankruptcy mainly affects a country’s reputation; the losers are the ones holding the loans. If a country bounds back from one and appears to be a good gamble, it has done nothing but stop loans that a country may have wanted shortly after becoming so. The US is a superpower because Europe was destroyed by WW II making its economy unstoppable. It has by far the most powerful military. In all aspects of real power, it is indeed a superpower and even yet another bankruptcy would just be a delaying action.
Jefferson did not invision the USA ever being a superpower. If he were alive today, his writings would likely be much different (although I am quite sure he would not be happy with the current monster federal gov).
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