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Banks
A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities.
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“
He tried to read an elementary economics text; it bored him past endurance, it was like listening to somebody interminably recounting a long and stupid dream. He could not force himself to understand how banks functioned and so forth, because all the operations of capitalism were as meaningless to him as the rites of a primitive religion, as barbaric, as elaborate, and as unnecessary. In a human sacrifice to deity there might be at least a mistaken and terrible beauty; in the rites of the moneyc
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― The Dispossessed: An Ambiguous Utopia
― The Dispossessed: An Ambiguous Utopia
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Banks do not create money for the public good. They are businesses owned by private shareholders. Their purpose is to make a profit.
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― Local Money: What Difference Does It Make?
― Local Money: What Difference Does It Make?
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