The Noble Lie

This is FDR’s first fireside chat. He gave this speech at a turning point in the American economy, as the banks had been run on and their fractional reserves could not meet the demand for cash as all faith in the banking system had collapsed.

Roosevelt presided over a time of massive centralization of wealth. He told a number of noble lies to the public to restore their faith in the banking system, as our money system runs on faith alone. In a similar time, during a similar crisis, the noble lies are being trotted out again. Some of this might be deja-vu.

Notice the clever use of words. FDR was a master orator. This is a banking holiday and holidays are good fun times, right? Notice too, he’ll meet every need, except the hysterical demands of hoarders, which of course will be anybody who holds him to his claim. If not allowing the banks to loan out many times over and collect interest on your [their?] money is a hysterical demand, then call me a hoarder.

Remember too that this is the gentleman who confiscated America’s gold and shipped it overseas.

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Tags: Banksters

This entry was posted on Sunday, July 27th, 2008 at 7:58 am and is filed under Audio. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.