You are a man of Scots-Irish temperament, so you might want to sit down for this. Not only do we have a national bank, your face Is on the twenty dollar bill. I know that may seem like a lot of money, but today it really isn’t. By the way, the bank is not even public, it is private. You must be livid.
Everything you said has come to pass, most importantly that it balled up the nation’s wealth in one spot. The wild part is that spot are corporations, whose basic existence I am sure would drive you through the rough. Get this, a corporation not only has no civic liability, but with the way our national banking design works, they also have no financial liability. There is no more agricultural republic, the current system has crushed them.
The rich got richer.
Also, you will thank me a mad man, but China, yes China, now basically owns the nation. They could collapse the American government overnight if they so desired, and not fire a single shot. The exposure of the sovereignty of the grand republic has actually never been greater, not even close militaristically. You will be happy to find out our armed forces will still chase an enemy where a rabbit could not run.
Moving on to the reason why I write, the Specie Circular is happening again. Yep, it was all speculation again, just like last time. Instead of specie, the crazy thing about this time is they were using credit, not even a hard currency! You guessed it, they finally started speculating on financial products that do not actually exist! The nation was leveraged on a product that has no intrinsic value! This is how far we have moved away from our roots as an agrarian republic. No cotton was harmed in the making of this crisis.
As you can probably surmise, loans are really hard to come buy. Wall Street, which is a much bigger fantasy than the one you know, is now on the ropes, from shadow boxing. And guess who is coming to the rescue?
You guessed it, Congress.
Now the real crazy part, it's not the Republicans, it's the Democrats! Don't be confused, the Republicans are still the "corrupt aristocrats of the East", with a lot of your beloved westerners thrown in for reasons to long to discuss here, but the Democratic Party is still supposedly "of the people".
Now they are hammering down the most unprogressive, antipopulist and pro-robbor baron legislation since, well, ever. The Democratic Party long ago turned its back on the agricultural republic, mostly because we became an industrial state as we discussed last time. But instead of siding with the industrial worker, the Democratic Party has trended more and more to the factory owner until this bail out of the elite circle who control capital.
The Republicans are just watching from the sidelines, in much glee I might add, at the supposed party of the people give the Republican base their biggest pay day ever.
Your party! The Democratic Party is not only overturning the very tenants that split the once legendary Republican-Democratic Party, but all the work of various liberal, progressive and left-leaning populist since! And why? I bet you want to know why.
Because the "corrupt bargain" isn't just for the executive branch anymore, and Congress finally discovered they could bribe the public with their own money. So later today, all the dreams of all the Democratic thinkers throughout our great nation's history will be overturned at the hands of the very Democratic Congress members holding the banner of the people.
Just thought you should know. And don't think I haven't screamed that no real progressive would ever for a second back this bill. It's a different era where up is down, down is up and greed is good. You wouldn't like it all, being a good Democrat and all.
Send me a message back under rock 32a, and I will reply according. And oh, make sure to tell George Bancroft, he should know as well. Over and out.