Jefferson was concerned about an uneducated democracy... so, he basically predicted 1Nut.
"Thomas Jefferson believed democracy was a fragile, worthy experiment requiring an educated citizenry to function. He advocated for a republic supported by local self-government, fearing that a centralized, uneducated democracy would fail. He considered informed public opinion essential to governance and feared the tyranny of both minority wealth (aristocracy) and majority rule.
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"The system of banking we have both equally and ever reprobated. I contemplate it as a blot left in all our constitutions, which, if not covered, will end in their destruction, which is already hit by the gamblers in corruption, and is sweeping away in its progress the fortunes and morals of our citizens.
Funding I consider as limited, rightfully, to a redemption of the debt within the lives of a majority of the generation contracting it; every generation coming equally, by the laws of the Creator of the world, to the free possession of the earth he made for their subsistence, unincumbered by their predecessors, who, like them, were but tenants for life ...
And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."
Thomas Jefferson