Biography Help

Posts Tagged ‘henry ford systems’

Question: What did Henry Ford mean when he said there would be a revolution if people understood our banking system?

"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."
-Henry Ford

What specific aspects of the banking system do you think he was referring to?

Answer: Think of it like this. The banks hold all the money and the distribute all the money. When you put your money into the bank say a saving account you usually recieve less than 1% return, if its a CD you might get at the most 4% if you are lucky. Yet, the bank then goes and give the money you just gave them out as loans: morgages, car loans, credit card charging those people any where from 6 - more than 20%. So that extra 19% is all profit for the bank. Not to mention on top of the intrest rates the charge the loan holder there are fee's involved monthly and annually, you are also charged in some banks fees on your savings account. It is a pretty messed up system. However, that to day in Ford time the banks system was much worse

With love: New owners restoring Lapham House

This article was written by L. Glenn O’Kray, a member of the Dearborn Historical Commission. O’Kray is a retired Henry Ford Community College administrator. He currently teaches part time there.

OneTouch UltraMini Blood Glucose Monitoring System - Instructions for Use (Part 1 of 2)