Feast Day of Saint Meingold

Seriously, the more I look at Catholic feast days, the more perplexed I am. Did you know that they actually have an official patron saint of banking?

It may be amusing at this point in time, with all of the bad news about the US banking system, to recall what some of the early American presidents had to say about bankers.

Thomas Jefferson once wrote to John Taylor and declared: “I sincerely believe that banking establishments are more dangerous than standing armies.”

In 1836, Andrew Jackson disbanded the second federal bank, declaring: “The bold effort the present bank made to control the government … [suggests] the fate which awaits the American people should they be deluded into a perpetuation of this institution.” Later, he said the following to the bankers themselves: “You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will”, which he did.

Henry Ford once said: “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”

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