During the fiscal year ending in 1861, expenses of the federal government had been $67 million. After the first year of armed conflict they were $475 million and, by 1865, had risen to one billion, three-hundred million dollars. On the income side of the ledger, taxes covered only about eleven per cent of that figure. By the end of the war, the deficit had risen to $2.61 billion. That money had to come from somewhere.
G. Edward GriffinWhen the Goths are at the gates, forming study groups and praying for deliverance is not effective defense.
G. Edward GriffinIn truth, money is not created until the instant it is borrowed. It is the act of borrowing which causes it to spring into existence. And, incidentally, it is the act of paying off the debt that causes it to vanish.
G. Edward Griffin1914...Dr. Joseph Goldberger had proven that (pellagra) was related to diet, and later showed that it could be prevented by simply eating liver or yeast. But it wasn't until the 1940's...that the 'modern' medical world fully accepted pellagra as a vitamin B deficiency.
G. Edward Griffin