Banking Quotes

Quotes tagged as "banking" Showing 1-30 of 112
John Maynard Keynes
“If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.”
John Maynard Keynes

Ursula K. Le Guin
“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 moneychangers, where greed, laziness, and envy were assumed to move all men's acts, even the terrible became banal.”
Ursula K. Le Guin, The Dispossessed

“Pick a leader who will keep jobs in your country by offering companies incentives to hire only within their borders, not one who allows corporations to outsource jobs for cheaper labor when there is a national employment crisis. Choose a leader who will invest in building bridges, not walls. Books, not weapons. Morality, not corruption. Intellectualism and wisdom, not ignorance. Stability, not fear and terror. Peace, not chaos. Love, not hate. Convergence, not segregation. Tolerance, not discrimination. Fairness, not hypocrisy. Substance, not superficiality. Character, not immaturity. Transparency, not secrecy. Justice, not lawlessness. Environmental improvement and preservation, not destruction. Truth, not lies.”
Suzy Kassem, Rise Up and Salute the Sun: The Writings of Suzy Kassem

David Graeber
“In fact this is precisely the logic on which the Bank of England—the first successful modern central bank—was originally founded. In 1694, a consortium of English bankers made a loan of £1,200,000 to the king. In return they received a royal monopoly on the issuance of banknotes. What this meant in practice was they had the right to advance IOUs for a portion of the money the king now owed them to any inhabitant of the kingdom willing to borrow from them, or willing to deposit their own money in the bank—in effect, to circulate or "monetize" the newly created royal debt. This was a great deal for the bankers (they got to charge the king 8 percent annual interest for the original loan and simultaneously charge interest on the same money to the clients who borrowed it) , but it only worked as long as the original loan remained outstanding. To this day, this loan has never been paid back. It cannot be. If it ever were, the entire monetary system of Great Britain would cease to exist.”
David Graeber, Debt: The First 5,000 Years

Nassim Nicholas Taleb
“Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending”
Nassim Nicholas Taleb, The Bed of Procrustes: Philosophical and Practical Aphorisms

“Pick a leader who will not only bail out banks and airlines, but also families from losing their homes -- or jobs due to their companies moving to other countries. Pick a leader who will fund schools, not limit spending on education and allow libraries to close. Pick a leader who chooses diplomacy over war. An honest broker in foreign relations. A leader with integrity, one who says what they mean, keeps their word and does not lie to their people. Pick a leader who is strong and confident, yet humble. Intelligent, but not sly. A leader who encourages diversity, not racism. One who understands the needs of the farmer, the teacher, the doctor, and the environmentalist -- not only the banker, the oil tycoon, the weapons developer, or the insurance and pharmaceutical lobbyist.”
Suzy Kassem, Rise Up and Salute the Sun: The Writings of Suzy Kassem

John Maynard Keynes
“When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done”
John Maynard Keynes

Franklin D. Roosevelt
“For nearly four years you have had an Administration which instead of twirling its thumbs has rolled up its sleeves. We will keep our sleeves rolled up. We had to struggle with the old enemies of peace--business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering. They had begun to consider the Government of the United States as a mere appendage to their own affairs. We know now that Government by organized money is just as dangerous as Government by organized mob.”
Franklin D. Roosevelt

John Maynard Keynes
“By this means the government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.”
John Maynard Keynes, The Economic Consequences of the Peace

Craig Ferguson
“When you need to borrow money the Mob seems like a better deal I think. 'You don't pay me back I break both yer legs.' Is that all? You won't take my house or wreck my credit rating? Fine where do I sign. Legs? Fine. You don't even have to sign anything. ”
craig ferguson

Steve Keen
“...If you look at mainstream economics there are three things you will not find in a mainstream economic model - Banks, Debt, and Money.

How anybody can think they can analyze capital while leaving out Banks, Debt, and Money is a bit to me like an ornithologist trying to work out how a bird flies whilst ignoring that the bird has wings...”
Steve Keen

Chris Martenson
“The bankers and financiers are badly overplaying their hands, again, and people are starting to catch on to the scam.

Real wealth is tangible things produced with tangible effort. Loans made out of thin-air 'money' require no effort and are entirely ephemeral.

But if those loans are used to acquire real ownership of real assets, then something has been exchanged for nothing and one party is getting screwed.”
Chris Martenson

Henry Hazlitt
“all loans, in the eyes of honest borrowers, must eventually he repaid. All credit is debt. Proposals for an increased volume of credit, therefore, are merely another name for proposals for an increased burden of debt. They would seem considerably less inviting if they were habitually referred to by the second name instead of by the first.”
Henry Hazlitt, Economics in One Lesson: The Shortest & Surest Way to Understand Basic Economics

Karl Wiggins
“The banking institutions, my friends, are sailing under false colours. They are running with the hare and hunting with the hounds. And we should never forget it.”
Karl Wiggins, 100 Common Sense Policies to make BRITAIN GREAT again

James Morcan
“Von Pein’s family was a little known, but highly influential entity within American banking circles. Banking Royalty, some called it. His grandfather had been one of the chief orchestrators of the Federal Reserve Act of 1913, which effectively took ownership of the bank from the American people.”
James Morcan, The Orphan Factory

John    Rogers
“Banks do not create money for the public good. They are businesses owned by private shareholders. Their purpose is to make a profit.”
John Rogers, Local Money: What Difference Does It Make?

W.E.B. Du Bois
“Not even ten additional years of slavery could have done so much to throttle the thrift of the freedmen as the mismanagement and bankruptcy of the series of savings banks chartered by the Nation for their especial aid.”
W.E.B. Du Bois, The Souls of Black Folk

Orrin Woodward
“New Golden Rule of Fractional Reserve Banking: He who creates the "fool's gold" controls the fools.”
Orrin Woodward

John Steinbeck
“The bank - or the Company - needs - wants -insists - must have - as though the bank or the Company were a monster, with thought and feeling, which had ensnared them... The banks were machines and masters all at the same time...
They breathe profits; they eat the interest on money. If they don't get it they die... It is a sad thing, but it is so. It is just so.”
John Steinbeck, The Grapes of Wrath

Lucy Moore
“The crash did not cause the Depression: that was part of a far broader malaise. What it did was expose the weaknesses that underpinned the confidence and optimism of the 1920s - poor distribution of income, a weak banking structure and insufficient regulations, the economy's dependence on new consumer goods, the over-extension of industry and the Government's blind belief that promoting business interests would make America uniformly prosperous.”
Lucy Moore, Anything Goes: A Biography of the Roaring Twenties

“In contrast to Ricardo’s expectation that banking would retain its early focus on international commerce — and hence,on industrial capital formation to provide foreign markets with British exports in exchange for raw materials — banking has found real estate to be the key, along with its traditional market in creating monopolies and trusts. Some 80% of bank loans in the United States and Britain are mortgages, and consequently they account for 70% of the economy’s interest payments.”
Michael Hudson, The Bubble and Beyond

“Eric Daniels, the boss at Lloyds TSB for example, was paid less than Goggin in 2007 despite delivering three and a half times Bank of Ireland's profits that year. Goggins' total package was 50 percent more than that of Andy Hornby of HBOS, who collected €2.6 million in 2007. The Scottish giant made €6.988 billion that year compared to Bank of Ireland's €1.584 billion.”
Shane Ross, The Bankers: How The Banks Brought Ireland To Its Knees

Lamine Pearlheart
“A bank is but honesty with a premium. At least this is what it is supposed to be.”
Lamine Pearlheart, The Sunrise's Commandment

“The fall of the Roman Empire was caused by what will eventually cause the fall of the United States of America - 'Fractional Reserve Banking'.”
James Thomas Kesterson Jr

Sukant Ratnakar
“Innovations are very cruel by nature. They destroy the old ones to create space for themselves.”
Sukant Ratnakar, Quantraz

“The banker has unlimited supply of fiat to buy limited supply of comodities.”
Gun Gun Febrianza

W.E.B. Du Bois
“Morally and practically, the Freedmen’s Bank was part of the Freedmen’s Bureau, although it had no legal connection with it. With the prestige of the government back of it, and a directing board of unusual respectability and national reputation, this banking institution had made a remarkable start in the development of that thrift among black folk which slavery had kept them from knowing. Then in one sad day came the crash,—all the hard-earned dollars of the freedmen disappeared; but that was the least of the loss,—all the faith in saving went too, and much of the faith in men; and that was a loss that a Nation which to-day sneers at Negro shiftlessness has never yet made good. Not even ten additional years of slavery could have done so much to throttle the thrift of the freedmen as the mismanagement and bankruptcy of the series of savings banks chartered by the Nation for their especial aid.”
W.E.B. Du Bois, The Souls of Black Folk

Leopold II
“My dear General, the Belgian state, will shortly issue a government loan of fifty million, France is writing one of two and a half billion, please ask Lambert to inform you of the condition of the French operation, as for the Belgian loan, leave it to me to try and get information from the ministers, but don't say anything to Lambert, if the French government loan yields 5 or 6 percent I will invest a large sum in it, if the interest is lower then I won't subscribe to it.”
Leopold II

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