The Electoral College was created to “reconcile differing state and federal interests, provide a degree of popular participation in the election, give the less populous states some additional leverage in the process by providing “senatorial” electors, preserve the presidency as independent of Congress, and generally insulate the election process from political manipulation.” Every bit of that can be achieved with a straight vote of the registered populous. Instead, as an example, we have every voting citizen of Wyoming with a 3.62 voting weight, compared to a California voter with only 1 vote. Because 39.35 million people in California get 55 electoral votes and 592,414 people in Wyoming get 3 electoral votes.
After voting not to extend the charter of the First and Second U.S. Bank, in 1811 and 1836 respectively, state-chartered banks and unchartered banks flourished, some even issuing their own notes redeemable for gold or specie. Although the National Banking Act of 1863 provided for nationally chartered banks and established some measure of currency stability, bank runs and financial panics continued to plague the nation’s economy. The Panic of 1907 shook the country to its economic core, resulting in the Aldrich-Vreeland Act of 1908, which provided for the issuance of emergency currency during crises and establishment of the National Monetary Commission to produce and recommend viable solutions.
Ultimately, in a secret meeting on Jekyll Island, seven men conspired to create the Federal Reserve Bank, among them five wealthy bankers and two politicians beholding to them. The purported purpose was to create a central bank that could stabilize the money supply and prevent financial panics. The American Public had grown weary of panics similar to the 1907 fiasco, which was actually generated by the group of seven’s mentors at the Bank of England. History shows that the 1907 Panic was concocted and unleashed specifically for the purpose of highlighting and exacerbating the problem, then providing the simple and obvious solution. It took three years from the Jekyll Island meeting, but Congress eventually swallowed the plan – hook, line and sinker.
Regardless of their original purpose, neither of these systems have any relevance in today’s world. Many reasons could be enumerated for each, but the only one that matters at this point and is entirely void in both systems – is proper accountability. Based on their address, registered voters in Wyoming should not have more than 3½ times the voting power, than voters in California. And it makes sense to utilize bankers as counselors for elected Fed officials, but to put them in control of the economy is more than just a conflict of interest, it’s literally akin to putting the fox in charge of the hen house.
“Permit me to issue and control the money of a nation, and I care not who makes its laws!”
– Mayer Amschel Rothschild, Founder of the Rothschild Banking Dynasty