Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess
Irving FisherRead
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Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess
Money is the probably the most successful story ever told. It has no objective value... but then you have these master storytellers: the big bankers, the finance ministers... and they come, and they tell a very convincing story.
I served in all commissioned ranks from Second Lieutenant to Major-General. And during that period, I spent most of my time being a high class muscle-man for Big Business, for Wall Street and for the Bankers. In short, I was a racketeer, a gangster for capitalism.
The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences.
Money powers prey upon the nation in times of peace & conspire against it in times of adversity.
When I trade, I don't have an agency problem; I have my neck on the line. When a bank or banker trades, it's not his neck on the line.
Harlem is not a playground for rich bankers and consultants. It's got students of all colors. It's got old people who keep history and tell tall tales.
A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.
They explained to me that the bank cannot lend money to poor people because these people are not creditworthy.
The major adventure is to claim your authentic, true being, which is not culturally given to you. The culture will not explain to you how to be a real human being. It will tell you how to be banker, politician, Indian chief, masseuses, actress, whatever, but it will not give you true being.
What Wall Street and credit card companies are doing is really not much different from what gangsters and loan sharks do who make predatory loans. While the bankers wear three-piece suits and don't break the knee caps of those who can't pay back, they still are destroying people's lives.
Compound interest on debt was the banker's greatest invention, to capture, and enslave, a productive society.
Every banker knows that if he has to prove that he is worthy of credit, however good may be his arguments, in fact his credit is gone: but what we have requires no proof.
Banks have never made money in the history of banking, losing the equivalent of all their past profits periodically - while bankers strike it rich.
What the banker sighs for, the meanest clown may have-leisure and a quiet mind.
And as a matter of fact, governments don't act, governments only react. The bankers make the decisions, and then governments decide how are we going to adjust to this. Government can't do anything unless the bank gives them the money to do it.
[It was] the poverty caused by the bad influence of the English bankers on the Parliament which has caused in the colonies hatred of the English and . . . the Revolutionary War.
If you owe your bank manager a thousand pounds, you are at his mercy. If you owe him a million pounds, he is at your mercy.
The old saying holds. Owe your banker �1000 and you are at his mercy; owe him �1 million and the position is reversed.
The streets of every city in America are filled with men who would pay all the money they could lay their hands on to be transformed, even for a day, into hairy, hard-fisted brutes who walk all over cops, extort drinks from terrified bartenders and roar out of town on big motorcycles after raping the banker's daughter.
There is too much sour grapes for my taste in the present American attitude. The time to denounce the bankers was when we were all feeding off their gold plate; not now! At present they have not only my sympathy but my preference. They are the last representatives of our native industries.
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