America Quote by Ezra Pound
“The phase of the usury system which we are trying to analyze is more or less Patterson's perception that the Bank of England could have benefit of all the interest on all the money that it creates out of nothing. ... Now the American citizen can, of course, appeal to his constitution, which states that Congress shall have power to coin money or regulate the value thereof and of foreign coin. Such appeal is perhaps quixotic.”
About This Quote
Source Essay: The Money System, 1935
He critiques the usury system, suggesting the Bank of England benefits from creating money, and notes constitutional limits on monetary power.
In simple terms: Questions the fairness of money creation.
Key Takeaway
Critique monetary policy.
Themes
economics
politics
law
Mood
critical
analytical
Type
essay
political commentary
When to use this quote
- financial reform
- public policy
- citizen activism
Key Concepts
usury
central banking
constitutional law
Questions to Reflect On
- How can citizens influence monetary policy?
- What reforms could reduce usury?
A Different Perspective
Complex legal arguments may be hard to act on.
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