debt

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 Saint Innocent Apostle to America on god, christianity, love, suffering, mercy, gratitude, virtue, sin, good, thanksgiving, and debt

For whom did Jesus suffer?  For all sinners, from Adam till the end of the world.  He suffered also for those very men who tortured Him, and for His enemies who had delivered Him to that torture, and for those who, having received from Him countless benefits, not only did not thank Him but even hated and persecuted Him.  He also suffered for all of us who offend Him daily by our untruths, wickedness, and terrible indifference to His suffering for us who by our ingratitude and abominable sins, as it were, crucify Him a second time.

Saint Innocent Apostle to America

Source: Daily Lives, Miracles, and Wisdom of the Saints and Fasting Calendar

Contributed by: boyznamedsue

A Quote by Barack Obama on obama, recovery, plan, structure, deficit, debt, and long-term

As soon as the recovery is well under way, we need to set up a long-term plan to reduce the structural deficit and make sure we are not leaving a mountain of debt for the next generation.

Barack Obama

Contributed by: Samme

A Quote by Peter Cajander on money, wealth, ignorance, corruption, prosperity, liberty, cartel, and debt

Representation of wealth is not the wealth. We have forgotten this. We regard money as wealth and debt as money.

Peter Cajander

Contributed by: peter

A Quote by Thomas H. Greco, Jr. on debt, money creation, interest, depression, and business cycle

The banks are continually making new loans and retiring old ones as they are repaid. In the aggregate, the debts owed to banks are increasing with the mere passage of time, because interest accrues over time. The money available to repay those debts, however, can be created only by the banks as they make additional loans.

The net requirement, then, is that banks must make new loans faster than they retire old loans, that is, there must be a continual expansion of bank credit money. If there is not, the result is depression—increasing numbers of defaulted loans, greater numbers of bankruptcies, expanding unemployment—and all the human misery that comes with it.

Thomas Greco

Source: Money: Understanding and Creating Alternatives to Legal Tender

Contributed by: peter

A Quote by Thomas H. Greco, Jr. on debt, business cycle, monetary system, and money

The prevailing monetary policies of the Fed determine whether money is easy or tight, that is, whether the monetization of government debt will be sufficient to provide private borrowers with the amounts of money needed to pay what they owe to the banks, or whether it will fall short. These actions by the Fed are largely responsible for the business cycle and periodic rounds of inflation and recession. Through the various mechanisms under its control—interest rates on loans it makes to banks, purchase or sale of government securities, and setting bank reserve requirements—the Fed has the power to decide whose interests will be favored and whose will be harmed.

Thomas Greco

Source: Money: Understanding and Creating Alternatives to Legal Tender

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, creation, lending, borrowing, and debt

In truth, money is not created until the instant it is borrowed. It is the act of borrowing which causes it to spring into existence. And, incidentally, it is the act of paying off the debt that causes it to vanish.

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 Irving Fisher on money and debt

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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.

Irving Fisher

Contributed by: peter

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