Banking Quotes

Banking

  • “The death of Lincoln was a disaster for Christendom. There was no man in the United States great enough to wear his boots and the bankers went anew to grab the riches. I fear that foreign bankers with their craftiness and tortuous tricks will entirely control the exuberant riches of America and use it to systematically corrupt modern civilization.” – Otto von Bismarck, German Chancellor (1815-1898), after Lincoln assassination.
  • “Banking was conceived in iniquity and was born in sin. The Bankers own the Earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear, and they ought to disappear, for this would be a happier and better world to live in. But if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits.” – Sir Josiah Stamp, President of the Bank of England in the 1920’s, the second richest man in Britain
  • “Banking was conceived in iniquity and born in sin. Bankers own the earth; take it away from them but leave them with the power to create credit; and, with a flick of a pen, they will create enough money to buy it back again. Take this power away from them and all great fortunes like mine will disappear, and they ought to disappear, for then this world would be a happier and better world to live in. But if you want to be slaves of bankers and pay the cost of your own slavery, then let the bankers control money and control credit.” – Sir Josiah Stamp, Director, Bank of England, c. 1940 (the second richest man in Britain at the time – was killed).
  • “Because of ‘fractional’ reserve system, banks, as a whole, can expand our money supply several times, by making loans and investments.” “Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars in accounts on their books in exchange for a borrower’s IOU.” – Federal Reserve Bank, New York
  • “The actual process of money creation takes place in commercial banks. As noted earlier, demand liabilities of commercial banks are money..”Confidence in these forms of money also seems to be tied in some way to the fact that assets exist on the books of the government and the banks equal to the amount of money outstanding, even though most of the assets themselves are no more than pieces of paper–.”, P.3.”Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars in accounts on their books in exchange for a borrower’s IOU.”, p. 19. “The 12 regional reserve banks aren’t government institutions, but corporations nominally ‘owned’ by member commercial banks.”, p. 27 – Federal Reserve Bank of Chicago
  • “The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it (p15). The process by which banks create money is so simple that the mind is repelled.” – John Kenneth Galbraith, Money: Whence it came, where it went – 1975, p29.
  • “The modern banking system manufactures money out of nothing. The process is, perhaps, the most, astounding piece of sleight of hand that was ever invented. Banks can in fact inflate, mint, and un-mint the modern ledger-entry currency.” – Major L. L. B. Angus
  • “Banks lend by creating credit. They create the means of payment, out of nothing.” – Ralph M. Hawtery (Former Secretary of the British Treasury)
  • “One rule which woe betides the banker who fails to heed it … Never lend any money to anybody unless they don’t need it.” – Ogden Nash
  • “Anytime four New Yorkers get into a cab together without arguing, a bank robbery has just taken place.” – Johnny Carson
  • “I went to the bank and went over my savings. I found out I have all the money that I’ll ever need. If I die tomorrow.” – Henny Youngman
  • “My girlfriend’s father died of throat trouble … They hung him. He used to work in a bank. But no matter how much the boss likes you, if you work in a bank you can’t bring home samples.” – Eddie Cantor
  • “The Central Banks (which charge interest to governments for the money they produce from out of nothing, with no labour or wealth involved) have secured these loans against your future taxes. Without even asking you, a substantial part of your future worth has been put up as collateral. What Central Banks do in a big way with countries, your local bank will replicate on organisations and individuals, using the same slight of hand to produce the funds they lend out of thin air.” – Alternative Trading Network article
  • “Bankers own the earth; take it away from them but leave them with the power to create credit; and, with a flick of a pen, they will create enough money to buy it back again… If you want to be slaves of bankers and pay the cost of your own slavery, then let the bankers control money and control credit.” — Sir Josiah Stamp, Director, Bank of England, 1940.
  • “The banks do create money. They have been doing it for a long time, but they didn’t quite realise it, and they did not admit it. Very few did. You will find it in all sorts of documents, financial textbooks, etc. But in the intervening years, and we must all be perfectly frank about these things, there has been a development of thought, until today I doubt very much whether you would get many prominent bankers to attempt to deny that banks create credit.” — H. W. White, Chairman of the Associated Banks of New Zealand, to the New Zealand Monetary Commission, 1955.
  • “The bank hath benefit of interest on all moneys which it creates out of nothing.” – William Patterson, founder of Bank of England, 1694.
  • “I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. The issuing power should be taken from the banks, and restored to the people to whom it properly belongs.” – Thomas Jefferson, 3rd US President.
  • “If you were a poor Indian with no weapons, and a bunch of conquistadors came up to you and asked where the gold was, I don’t think it would be a good idea to say, ‘I swallowed it. So sue me.'” – Jack Handy
  • “With money every form of intercourse, and intercourse itself, is considered fortuitous for the individuals.” Karl Marx in The German Ideology.
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