Some more background that bears repeating, from a very long banking article:
“In 1828 Andrew Jackson took a run at the US Presidency. Throughout his campaign he railed against the international bankers who controlled the BUS (Bank of the US - before the Fed). Jackson ranted, “You are a den of vipers. I intend to expose you and by Eternal God I will rout you out. If the people understood the rank injustices of our money and banking system there would be a revolution before morning.”
Jackson won the election and revoked the bank’s charter stating, “The Act seems to be predicated on an erroneous idea that the present shareholders have a prescriptive right to not only the favor, but the bounty of the government…for their benefit does this Act exclude the whole American people from competition in the purchase of this monopoly. Present stockholders and those inheriting their rights as successors be established a privileged order, clothed both with great political power and enjoying immense pecuniary advantages from their connection with government. Should its influence be concentrated under the operation of such an Act as this, in the hands of a self-elected directory whose interests are identified with those of the foreign stockholders, will there not be cause to tremble for the independence of our country in war…controlling our currency, receiving our public monies and holding thousands of our citizens independence, it would be more formidable and dangerous than the naval and military power of the enemy. It is to be regretted that the rich and powerful too often bend the acts of government for selfish purposes…to make the rich richer and more powerful. Many of our rich men have not been content with equal protection and equal benefits, but have besought us to make them richer by acts of Congress. I have done my duty to this country.”
Populism prevailed and Jackson was re-elected. In 1835 he was the target of an assassination attempt. The gunman was Richard Lawrence, who confessed that he was, “in touch with the powers in Europe”.
Still, in 1836 Jackson refused to renew the BUS charter. Under his watch the US national debt went to zero for the first and last time in our nation’s history. This angered the international bankers, whose primary income is derived from interest payments on debt. BUS President Nicholas Biddle cut off funding to the US government in 1842, plunging the US into a depression. Biddle was an agent for the Paris-based Jacob Rothschild.
The Mexican War was simultaneously sprung on Jackson. A few years later the Civil War was unleashed, with London bankers backing the Union and French bankers backing the South. The Lehman family made a fortune smuggling arms to the south and cotton to the north. By 1861 the US was $100 million in debt. New President Abraham Lincoln snubbed the Euro-bankers again, issuing Lincoln Greenbacks to pay Union Army bills.
Jackson is my favorite president. Dealing w the central bank issue, his famous quote was, “John Marshall has made his ruling, now let him enforce it!”. Jackson is a rarity among presidents in that for decades afterwards, presidents were referred to by how “Jacksonian” they were, much as we speak of how Reaganesque a candidate is now. For those who note that he was a Democrat ... yes, BUT, he would have been running to the right of Reagan, Ted Cruz, Barry Goldwater ... etc were he alive today.
“The Mexican War was simultaneously sprung on Jackson.”
Say what?? Wasn’t he out of office for ten years?