Title: Debunking the Lincoln-Kennedy Federal Reserve Meme – Jacksonian America: Society, Personality, and Politics
Headings: Debunking the Lincoln-Kennedy Federal Reserve Meme
Debunking the Lincoln-Kennedy Federal Reserve Meme
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16 thoughts on “ Debunking the Lincoln-Kennedy Federal Reserve Meme ”
Julie Smith
ron
Mark R. Cheathem
Blake Carrington
Anthony
Kris
Mark R. Cheathem
Kris
Mark R. Cheathem
Julie Smith

Content: President Lincoln needed money to finance the Civil War, and the international bankers offered him loans at 24-36% interest. Lincoln balked at their demands because he didn’t want to plunge the nation into such a huge debt. Lincoln approached Congress about passing a law to authorize the printing of U.S. Treasury Notes. Lincoln said “We gave the people of this Republic the greatest blessing they ever had – their own paper money to pay their debts…” Lincoln printed over 400 million “Greenbacks” (debt and interest-free) and paid the soldiers, U.S. government employees, and bought war supplies. The international bankers didn’t like it and wanted Lincoln to borrow the money from them, so that the American people would owe tremendous interest on the loan. Lincoln’s solution made this seem ridiculous. Shortly after Lincoln’s death, the government revoked the Greenback law which ended Lincoln’s debt-free, interest-free money. A new national banking act was enacted and all currency became interest-bearing, debt instruments, again….Just incase someone disagrees with the meme lol
26 October 2015 at 1:18 PM
Mark R. Cheathem
Your reply sounds remarkably similar to Joshua’s initial comment. 26 October 2015 at 1:51 PM
Blake Carrington
You are correct. There was no federal reserve system when Lincoln was president.