banking

A Quote by Mayer Amschel Rothschild on money, credit, control, nation, banking, law, sovereignity, debt, slavery, and totalitarianism

Permit me to issue and control the money of a nation, and I care not who makes its laws.

Mayer Amschel Rothschild

Contributed by: Lucid

A Quote by E. C. Riegel on money, politics, money-making, prosperity, wealth, govern, government, banking, and monopoly

Contrary to popular belief, the banker is neither a money creator nor a money lender. He merely profits from the ignorance of businessmen by charging them for authorizing them to create money, a function that is natural to the buyer and which he can exert without cost if he is intelligent enough to form a reciprocal enabling pact with other buyers. The process involves no cost and, therefore, justifies no fee. Since the money is created only by the act of buying, the banker, of course, does not lend it, and since he is not the buyer, he does not create it. Money cannot be loaned or borrowed until it has been created by the act of buying. Therefore it is correct to say that a savings bank makes loans, but a commercial bank makes no loans. It merely permits "borrowers" to create money. thus increasing the money supply. Non-banking corporations, individuals, pawnbrokers, etc., loan money from the existing supply. Therefore interest may be justified in these cases of actual loans, whereas, it cannot be justified where the "borrower" is the actual creator.

E. C. Riegel

Source: http://www.mind-trek.com/treatise/ecr-pem/ch2.htm

Contributed by: peter

A Quote by E. C. Riegel on money, politics, money-making, wealth, govern, government, banking, monopoly, patents, and licensing

There is an analogy between the patent granting power of government and its money granting power. When a citizen invents a device, the government grants him, through the patent office, a monopoly on the sale of it. When a citizen produces anything, he is at liberty to use it; but, if he wishes to sell it, his ability to do so is dependent upon his ability to find someone who has the money. Since buyers can have only such money as the government distributes through its purchases, loans and gifts (or such substitute money as its creature, the banker, will authorize) it may be seen that buying is subject to grant, just as, in the case of a patent, selling is subject to grant. In the case of patents, the patent holder is the grantee of veto power; in the case of money, the banker is the grantee of the veto power. These two are the breeders of our monopolies and of the two, the money granting and vetoing power is by far the greater. It in fact makes possible the acquisition of the patent granting power from inventors who, not having money power, are obliged to sell to those who have. The government, which promulgates laws against monopolies in restraint of competition, is itself the author of these twin creators of monopolies.

E. C. Riegel

Source: http://www.mind-trek.com/treatise/ecr-pem/ch2.htm

Contributed by: peter

A Quote by Gary North on banking, cartel, central bank, and money

The goal of the FED, as with all central banks, is three-fold: (1) to protect the largest commercial banks from their depositors, who occasionally exercise their contractual right to withdraw currency (the ungrateful cads); (2) to control entry of newcomers into the bankers' cartel (interlopers); (3) to keep the stock market from collapsing in a panic, thereby persuading depositors to withdraw currency

Gary North

Source: http://www.lewrockwell.com/north/north617.html

Contributed by: peter

A Quote by Robert Hemphill on money, monetary system, banking, and debt

If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless situation is almost incredible -- but there it is.

Robert Hemphill

Contributed by: peter

A Quote by G. Edward Griffin on money, fraud, and banking

As we have already shown, every dollar that exists today, either in the form of currency, checkbook money, or even credit card money -- in other words, our entire money supply -- exists only because it was borrowed by someone; perhaps not you, but someone.

That means all the American dollars in the entire world are earning daily and compounding interest for the banks which created them. A portion of every business venture, every investment, every profit, every transaction which involves money -- and that even includes losses and the payment of taxes -- a portion of all that is earmarked as payment to a bank.

And what did the banks do to earn this perpetually flowing river of wealth? Did they lend out their own capital obtained through investment of stockholders? Did they lend out the hard-earned savings of their depositors? No, neither of these were their major source of income. They simply waved the magic wand called fiat money.

Edward Griffin

Source: The Creature from Jekyll Island: A Second Look at the Federal Reserve

Contributed by: peter

A Quote by G. Edward Griffin on money, illusion, debt, and banking

It must be realized that, while money may represent an asset to selected individuals, when it is considered as an aggregate of the total money supply, it is not an asset at all. A man who borrows $1,000 may think that he has increased his financial position by that amount but he has not. His $1,000 cash asset is offset by his $1,000 loan liability, and his net position is zero. Bank accounts are exactly the same on a larger scale. Add up all the bank accounts in the nation, and it would be easy to assume that all that money represents a gigantic pool of assets which support the economy. Yet, every bit of this money is owed by someone. Some will owe nothing. Others will owe many times what they possess. All added together, the national balance is zero. What we think is money is but a grand illusion. The reality is debt.

Edward Griffin

Source: The Creature from Jekyll Island: A Second Look at the Federal Reserve

Contributed by: peter

A Quote by Walter Russell on credit, debit, money, balance, electricity, bank, and banking

Our zero universe of equilibrium demands two opposed conditions in order to simulate that which our senses interpret for motion and change. These to needed conditions are plus and minus equilibrium; positive and negative electricity.
Plus zero means a credit of pressure borrowed from the universal equilibrium to compress a large volume into a small volume. Minus zero means an equal expansion to balance the borrowed compression.
A thousand dollars borrowed from a bank is a plus condition of credit which is balanced by an equal debit of one thousand dollars. The central zero represents the bank. The extended zeros represent credit and debit. Both are equal but opposite. A credit of one thousand dollars equals zero [for the bank]. When the credit is paid in part or in full the debit is proportionately voided simultaneously with the credit. [Terms of interest disturb this system inevitably.]
These two opposite conditions of credit and debit correspond with the two opposite conditions of compression and expansion in Nature upon which motion is dependent. When an equilibrium pressure is divided into opposite conditions from the zero from which both are extended, motion between the two becomes imperative. They must interchange with each other to void their unbalanced conditions. This is the principle of the electric current.

Walter Russell

Source: The Secret of Light

Contributed by: esaruoho

A Quote by Ludwig von Mises on economy, politics, banking, finance, and inflation

The final outcome of the credit expansion is general impoverishment.

Ludwig von Mises

Source: Human Action: A Treatise on Economics (Scholars Edition), Pages: 562

Contributed by: peter

A Quote by Henry Ford Sr. on henry ford, monetary system, and banking

It is well enough that people or the nation do not understand our banking and monetary system for it they did, I believe that there would be a revolution before morning.

Henry Ford Sr.

Contributed by: Suz

Syndicate content