Thursday, November 6, 2008

Was the Origin of the Central Bank Corrupt?

The article “The Corrupt Origins of Central Banking”, written by Thomas J. DiLorenzo, is about original foundation of the corrupt central bank. The article addresses Robert Morris as the person who desired to establish the American version of the British mercantilist system. The article further addresses Morris’s desire "to organize and head a central bank, to provide cheap credit and expanded money for himself and his allies.” Alexander Hamilton is suggested as helping Morris in his schemes. The article concludes by stating how the method of Morris and Hamilton failed to function because it violated primary American rights, which are liberty alongside prosperity. It is a very interesting article to read.

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