More Of The Same Old Thing


Is it just me, or does some of the following sound familiar. Here are just a few snippets of what the President had to say about the banking “crisis”.

“Because of undermined confidence on the part of the public, there was a general rush by a large portion of our population to turn bank deposits into currency or gold …Proclamations closing them, in whole or in part, had been issued by the Governors in almost all the states. It was then that I issued the proclamation providing for the national bank holiday, and this was the first step in the Government’s reconstruction of our financial and economic fabric.”

“The second step, last Thursday, was the legislation promptly and patriotically passed by the Congress confirming my proclamation and broadening my powers so that it became possible in view of the requirement of time…This law also gave authority to develop a program of rehabilitation of our banking facilities. And I want to tell our citizens in every part of the Nation that the national Congress — Republicans and Democrats alike — showed by this action a devotion to public welfare and a realization of the emergency and the necessity for speed that it is difficult to match in all our history.”

“The third stage has been the series of regulations permitting the banks to continue their functions to take care of the distribution of food and household necessities and the payment of payrolls.”

“Your Government does not intend that the history of the past few years shall be repeated. We do not want and will not have another epidemic of bank failures.”

“Let me make it clear to you that the banks will take care of all needs, except, of course, the hysterical demands of hoarders, and it is my belief that hoarding during the past week has become an exceedingly unfashionable pastime in every part of our nation.”

“The success of our whole national program depends, of course, on the cooperation of the public — on its intelligent support and its use of a reliable system.

Remember that the essential accomplishment of the new legislation is that it makes it possible for banks more readily to convert their assets into cash than was the case before. More liberal provision has been made for banks to borrow on these assets at the Reserve Banks and more liberal provision has also been made for issuing currency on the security of these good assets. This currency is not fiat currency…”

“The new law allows the Government to assist in making these reorganizations quickly and effectively and even allows the Government to subscribe to at least a part of any new capital that may be required.

I hope you can see, my friends, from this essential recital of what your Government is doing that there is nothing complex, nothing radical in the process.

We have had a bad banking situation. Some of our bankers had shown themselves either incompetent or dishonest in their handling of the people’s funds. They had used the money entrusted to them in speculations and unwise loans. This was, of course, not true in the vast majority of our banks, but it was true in enough of them to shock the people of the United States, for a time, into a sense of insecurity and to put them into a frame of mind where they did not differentiate, but seemed to assume that the acts of a comparative few had tainted them all. And so it became the Government’s job to straighten out this situation and do it as quickly as possible.”

“After all, there is an element in the readjustment of our financial system more important than currency, more important than gold, and that is the confidence of the people themselves. Confidence and courage are the essentials of success in carrying out our plan. You people must have faith; you must not be stampeded by rumors or guesses. Let us unite in banishing fear. We have provided the machinery to restore our financial system, and it is up to you to support and make it work.”

It seems funny to me that politicians always seem to think that we are stupid, that we don’t know how things in this world work. The President started this speech explaining home banks worked, as in, they take your money in and lend it out. And that they also don’t keep all the cash there in their safe. Really, did he need to explain that?

It also amazes me that they think the only way to fix anything is with a whole new spread of regulations, laws, interventions and bureaucrats that infiltrate themselves throughout the fabric of this great land taking away freedoms at every step.

It is time for us to take this republic back from the self appointed elitists that think they know how WE should live our lives. This banking crisis was just the first step of this newly elected President, not even a month in office, in taking more and more control of all aspects of America. The people of America should never have allowed our nation to get to this point but it did. And this was the President it elected. The President was Franklin Delano Roosevelt and the above speech was from his first “Fireside Radio Chat” on March 12, 1933 just a week after taking office on March 4th.

Earlier, before the election, when this president was still a candidate accepting his parties nomination he said this,
“Throughout the nation men and women, forgotten in the political philosophy of the Government, look to us here for guidance and for more equitable opportunity to share in the distribution of national wealth… I pledge you, I pledge myself to a new deal for the American people… This is more than a political campaign. It is a call to arms.”

What goes around comes around I guess. Patriots keep up the fight for our freedoms and don’t ever let yourself get caught up in letting “THEM” tells us what is good for us or in having them “EXPLAIN OUR CORE VALUES TO US” as the current occupier said recently. Keep the faith, and your powder dry.

Best Regards,
Bruce Bowers
Fellow Patriot & Conservative


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