Graham and Doddsville -- Value Investing In The New Era Message Board

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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: Mike M2 who wrote (1368)	2/26/1999 4:41:00 PM
From: porcupine --''''>	Read Replies (2) of 1722

"Thomas Jefferson said banks are more dangerous than any standing army." Banks are assuredly dangerous to slave holding plantation owners. Wasn't it Jefferson who undid the nation's first central bank? Admittedly, Jefferson's vision of a self-sufficient agricultural yeomanry is a sturdier foundation for democratic republicanism than a vast industrial proletariat that is all too ready to surrender liberty for economic security. This vision was at the core of his ideological conflict with Hamilton, who engineered the creation of our first central bank, to facilitate the rise of a national capitalism. But, is it any more realistic for 270 million of us to return to the farm than it was for India's masses to attempt to support themselves with Gandhi's spinning wheels? Yet, once past savings become the only basis for current investment, most of us better head back to subsistence farming on the ole plantation -- because that "cross of gold" will leave few of us with any money to exchange for food, clothing and shelter.

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