Photo: Wikipedia Commons –
Woodrow Wilson was the was the 28th President of the United States. He served from 1913 to 1921 and had one big regret of his presidency. A decision that would end up haunting him until the day he died.
Here’s what Wilson said on his deathbed:
“I am a most unhappy man.
I have unwittingly ruined my country.
A great industrial nation is controlled by its system of credit.
Our system of credit is concentrated.
The growth of the nation, therefore, and all our activities are in the hands of a few men.
We have come to be one of the worst ruled,
one of the most completely controlled
and dominated governments in the civilized world.
No longer a government by free opinion,
no longer a government by conviction and the vote of the majority,
but a government by the opinion and duress of a small group of dominant men.”
If you’re not clear on this, President Wilson was talking about the Federal Reserve. He realized that a group of men had tricked him into securing passage of the Federal Reserve Act of 1913. He never got over it.
Interestingly enough, the Federal Reserve Act promised that the new central bank was going to “bring monetary stability” to the United States. Nearly 100 years later, look where we are:
I don’t think it’s working. Do you?