My Insight Website (For What It's Worth)

It seems that no matter what problem comes up in modern politics, no matter what the issue, Thomas Jefferson seems to have had the answer at the founding of our republic.

Jefferson wanted to stick to coinage as our cash currency. Hamilton wanted to print paper money. In the end, both got their way, but eventually, due to the very reasons Jefferson stressed, the paper became the dominant form of currency.

Jefferson wanted real money, the actual value of which would be the amount of real precious metal in the coin, a constant, and consistent value. He said: "Paper is poverty...it is only the ghost of money, and not money itself."

Turns out that he was right, and that the monetary system set out by Hamilton and the banks, is the most likely source of the current financial crisis.