<iframe width="640" height="360" src="//www.youtube.com/embed/RrwbgdtbdXE?rel=0" frameborder="0" allowfullscreen></iframe> Interesting.
Well glad you like Lucrum. Here is another eye-opening video. It even shows you that EVERY financial "crisis" (including the Great Depression) is deliberately created by a handful of men. This must-see 5-part video has been viewed almost 6 million times, click on the Youtube Full Screen button (buttom of the screen, right corner) for better viewing : http://www.youtube.com/watch?v=_dmPchuXIXQ
as now these things spreading.... and some people raising voices... will be interesting to watch what will be the response to tame it down. See if goog/fb/msft & co can really be useful to control masses and justify current prices.
it is doubtful that hamilton recognized central banks as nothing but an inflation engine or the handmaiden of the executive and congressional branch. if he didn't he was wrong.
Surely he knew they were, as all points of power are, political institutions and just as surely he understood that they would hand out cheap money to the ruling class. But what system is able to prevent the ruling class from using their political and economic might to wring largess from the political establishment. They are the establishment.
The preceding video was just an appetizer, be prepared for even more shocking truths.... http://www.youtube.com/watch?v=pLlwpZQrQUU (It is a long video, I suggest you record it via Firefox DownloadHelper for example, or RealPlayer Recorder, they are both free)
Indeed, it was Hamilton vs Jefferson and Madison. In the end, Hamilton's vision prevailed (even though it was through a compromise of sorts, as I understood it). You may disagree with Hamilton's ideas, but, in my opinion, there was sound logic to them. Likewise for Jefferson. In the end, it's a matter of choosing between two possible paths. I believe, in the end, the US has chosen wisely, even though occasionally it might appear differently.
Precisely... A central bank is like many other institutions we currently have. It's imperfect, but, like I've said many times, it's the least worst solution available.
Inflation engine? It's quite obvious that Hamilton's efforts to create a central bank had a goal of combating inflation. As to the central bank being a "handmaiden of the executive and legislative branch", I presume he couldn't really imagine anything different. The concept of "central bank independence" is a very recent phenomenon.