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Tom WoodsFrom Tom Woods’ April 15, 2013 article, The Greenbackers’ Fake Quote Industry, picked up by LewRockwell.com the following day, I made the following comments, to which Woods responded to:

Bill Still tried to get fake quotations removed from his documentary, The Money Masters, but the copyright holder wouldn’t allow it, for reasons we can only surmise. In 2011, he created this page dedicated to exposing false monetary quotations (http://s6.zetaboards.com/Bill_Still_Reforum/topic/1177385/1/) so it’s good to see that you’ve joined forces with a Greenbacker in the interests of intellectual honesty, Tom.

To which Woods responded:

I happily concede that this speaks well of Bill Still.

Then, I commented:

In 2009, I exposed the fake Jefferson quote you cited above (https://fauxcapitalist.com/2009/10/28/what-thomas-jefferson-said-about-private-banks/) after hearing it so many times and deciding to do my own research and conceding that it must be fake if the word “deflation” wasn’t even used in Jefferson’s time.

To which he responded:

Great. Now if only you could get the 167,000 people who keep propagating the fakes to visit your page, we’d be getting somewhere.

Then, I wrote:

Tom, while fake quotations are often cited by Greenbackers, there are also fake quotations cited by Austrian School adherents, such as this fake Aristotle quotation: “In effect, there is nothing inherently wrong with fiat money, provided we get perfect authority and god-like intelligence for kings.“ We can thank James Dines for propagating that one. I emailed him asking for his source, and he never responded.

To which he responded:

I have never heard of James Dines, and I cannot imagine any serious Austrian falling for such an obvious fake. With the Greenbackers, fake quotations are systematic and everywhere.

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Speech Bubble

September 13, 2011

“I’d like to say that FauxCapitalist has deleted nothing I have posted – which is a rare thing amongst conspiracists. Most of them delete any and all dissent – FC has not.

Thanks.”

June 25, 2011

“having read almost all of FauxCapitalist’s posts I need to say that he is a VERY keen observer! He is a very critical person to begin with, so he is also critical of Enenews to begin with, which is a) his right and therefore fine and good, and b) understandable because of its anonymity.”

May 30, 2011

“Our political arena has become nothing more than sides wanting to win power without regard to cooperation, core principles, or consequences of their actions. While I don’t often agree with everything that you post, I whole-heartedly agree with you in this case.”

January 25, 2010

“Faux Me! Blog of the Day

Who: Mysterious and minimalist. What: Plain good content.

Perfect.

I want to be his friend. Or hers. Or it.”

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Among the most famous of quotations attributed to Thomas Jefferson, is this one:

If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around  them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered.

But did Thomas Jefferson really say that? That’s what I had thought, especially after hearing it repeated by so many people on so many different programs and web sites. Then, one day, I decided to verify it for myself, and was surprised by what I found.

Bartleby, famous for its books of quotations, states:

Although Jefferson was opposed to paper money, this quotation is obviously spurious. Inflation was listed in Webster’s dictionary of 1864, according to the Oxford English Dictionary, but the OED gives 1920 as the earliest use of deflation.

Another authoritative dictionary, Merriam-Webster, reports the first use of the word deflation, in any context, dating back to 1890 — 64 years after the death of Thomas Jefferson.

As Bartleby hints at, one shouldn’t throw the baby out with the bath water. Even if Jefferson didn’t say that, in whole or in part, it’s consistent with his beliefs and actions.

The full significance of this quotation will be addressed in several subsequent articles.

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