Quotes on Banking

By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.

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.

Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms.

It should be clear that modern fractional reserve banking is a shell game, a Ponzi scheme, a fraud in which fake warehouse receipts are issued and circulate as equivalent to the cash supposedly represented by those receipts.

They explained to me that the bank cannot lend money to poor people because these people are not creditworthy.

The eyes of our citizens are not sufficiently open to the true cause of our distress. They ascribe them to everything but their true cause, the banking system

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.

You don't run a business hoping you don't have a recession.

A banking system is an act of faith: it survives only for as long as people believe it will.

I am myself persuaded, on the basis of extensive study of the historical evidence, that... the severity of each of the contractions - 1920-21, 1929-33, and 1937-38 - is directly attributable to acts of commission and omission by the Reserve authorities and would not have occurred under earlier monetary and banking arrangements.

We are inheriting the worst financial system since the Depression. We're inheriting a situation - when people go back and study major banking crises a quarter century from now, the one that America developed in 2007 and 2008 is going to be one of those crises.

Indeed, better risk management may be the only truly necessary element of success in banking.

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.

I hesitate to deposit money in a bank. I am afraid I shall never dare to take it out again. When you go to confession and entrust your sins to the safe-keeping of the priest, do you ever come back for them?

The system of banking have[for]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.

Tragically, some people believe they are going to heaven when they die just because a few drops of water were sprinkled over their heads a few weeks after their birth. They have no personal faith, have never made a personal decision, and are banking on a hollow ceremony to save them. How absurd.

All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.

Good resolutions are simply checks that men draw on a bank where they have no account.

Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal - that there is no human relation between master and slave.

I did something that challenged the banking world._x000D_ _x000D_ Conventional banks look for the rich; we look for the absolutely poor._x000D_ _x000D_ All people are entrepreneurs, but many don't have the opportunity to find that out.