Reason Enough

The likeness of Bernie Sanders and Ben Franklin is very unique

Having listened to Senator Bernie Sanders for some time now should remind us of the words of wisdom from one of Americas Founding fathers. When Ben Franklin wrote in 1774 " History affords us many instances of the ruin of states, by the prosecution of measures ill suited to the temper and genius of their people. The ordaining laws in favor of one part of the nation to the prejudice and oppression of another is certainly the most erroneous and mistaken policy. An equal dispensation of protection, rights, privileges, and advantages is what every part is entitled to and ought to enjoy. These measures never fail to create great violent jealousies and animosities between the people favored and the people oppressed; whence a total separation of affections, interests, political obligations and all manner of connections by which the state is weakened." Words of wisdom from good old Ben Franklin.

When Senator Sanders has so often stated about the great inequality that is ever present in our society today we would be mindful to heed the words of Ben Franklin. It is to Ben Franklin's as well as Bernie Sanders credit that they both understand the consequences when one class of society dominates the rule of law. Both understood that when power is in the hands of the few wealthiest that power is corrupted thereby eliminating any chance for the majority of a nations populace to prosper. A widening of classes that often ends in violent confrontation. History is ripe with violent reprisals resulting from people being denied opportunities to advance their quality of life. It has happened so often in the past as it is happening right here today in the United States. 

In this Presidential election year Senator Sanders realizes that our nation is on the verge of what Ben Franklin has so often warned the rest of our founding fathers about. One of the most startling instances where Ben Franklin's warning as well as what Senator Sanders is saying today is that when money flows to power the all too powerful few continue to decimate a nation. In stead of a united nation what we are experiencing today are factions where the powerful and wealthiest have kept this nations so splintered pitting one group against the other. It is quite obvious with the rhetoric coming from Republican Presidential candidates of late.

To fully understand what is and has taken place in America for the past 30 years is to embark on the trail that Ben Franklin took during the 18th century prior, during and after the American Revolution. Once we reconstruct the basis of Franklin's warnings we will see that today Senator Sanders knows all too well of failing to heed the lessons we should have learned from one of our foremost founding fathers. Ben Franklin was a firm believer in the issuance of paper currency. In one of Franklins' earlier pamphlets around the 1740's he states "that the lack of money to transact trade within the

province carries a heavy cost because the alternative to paper money in not gold and silver coins which through trade have all been shipped off to England but barter. Barter in turn increases the cost of local exchange and so lowers wages, employment and immigration. Money scarcity also causes high interest rates, which reduces investment and slows development. Paper money will solve these problems."

Back in the 1700's Ben Franklin is adamant that paper currencies values is not based of gold or silver but the quantity of paper money relative to the volume of internal trade. It is the extent of trade within the nation that governs the value of paper money. He also emphasizes that an excess of paper money relative to the volume of internal trade causes to lose value. In other words to depreciate. Today with all the paper money that was printed by the Fed through their QE 1 and QE 2 initiatives has only made the value of our currency decline. For what it is worth a dollar in 1964 would buy 20 dollars worth of goods today.

One of the biggest concerns today is  the fact that the United States is broke. Despite all the currency that was flooded into the financial sector following the financial crisis of 2008 our fractional reserve banking system has only rendered this nation almost powerless to ever get out of debt. Back in the 1700's had Ben Franklin's advice taken hold the First Bank of America would have been much less prominent thereby having the Treasury of the US as stated in the Constitution be the sole provider of printing paper currency. Had we established that president back then the Federal Reserve would never have been granted the power it has today. The power to print currency and loan it back to the government at high interest is one of the most insidious forms of extortion over our own government. Meanwhile the US continues to fall further in debt.  

Now when Senator Sanders speaks of too big to fail banks and signals the repeal of the Glass-Steagall Act as one of the biggest mistakes in recent history should be a wake up call for all Americans to listen to this voice of reason and purpose. It also is quite remarkable that there are basic similarities between Ben Franklin and Bernie Sanders. The insight that both have toward their respective times is a testament toward their ability to access current events pertinent to the nations future. Franklin knew that the Bank of England was the greatest contributor to inequality, depravation, and poverty. And, he offered a realistic appraisal of what would happen when England instituted and enforced their monetary policies on the colonies.

Today the failings of our elected officials stemming back some 30 years has once again threatened the very foundation upon which our country was built. In essence too many of our founding principles have been pushed aside in favor of disingenuous policies that only has continued to divide a nation. Like Ben Franklin before it is Senator Sanders that has understood the past when mistakes repeat threatens the sanctity of a nation. This is why his voice of reason resonates across cultural, ethnic and religious divides. Something the Republicans are doing their very best at not doing.

One of the most infamous instances of disingenuous policies is the repeal of the Glass-Steagall Act by President Clinton. This opened the pathway to accelerate the great income disparity gap we have today. But, more importantly it paved the way for Wall Street and our financial institutions to once again cause another financial disaster. Another case of repeating mistakes made by our own elected officials with-out foresight as to the consequences that followed.

When Senator Sanders continues to reintegrate that the Glass-Steagall Act be reenacted it is the voice of reason that should be heeded if we are to avoid repeating the same mistakes made that produced one catastrophic catastrophe after another. Like Benjamin Franklin Bernie Sanders appeal is his intellect that is conveyed by a growing humanity and humility where reason trumps, insensitivity, bravado and arrogance