I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.

Thomas Jefferson
About This Quote

Thomas Jefferson was a brilliant man and he knew it. He was also a very intelligent man who had a way of expressing himself that many people found very hard to grasp. However, the statement above sums it up very nicely. He meant that banks are dangerous because they can take money from those who have saved for the future and those savings will never be repaid. We all know how easy it is to spend money right now and not think about the consequences, but we also know how much better off we would be if we had saved our money instead.

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