money

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 Malchi Crawford on self-help, self-esteem, mantra, meditation, wealth, success, money, and success

"Our highest aspirations are our greatest possibilities"

Malchi Crawford

Source: Malchi Crawford

Contributed by: Malchi

A Quote by Richard Branson on business, entrepreneurship, money, passion, and purpose

What was the first business idea you came up with?

I set up this magazine called Student when I was 16, and I didn't do it to make money - I did it because I wanted to edit a magazine. There wasn't a national magazine run by students, for students. I didn't like the way I was being taught at school. I didn't like what was going on in the world, and I wanted to put it right.

Of course, a lot of businesses want to reach students, so I funded the magazine by selling advertising. I sold something like $8,000 worth of advertising for the first edition, and that was in 1966. I printed up 50,000 copies, and I didn't even have to charge for them on the newsstand because my costs were already covered.

So I became a publisher by mistake - well, not quite by mistake, because I wanted to be an editor but I had to make sure the magazine would survive. The point is this: Most businesses fail, so if you're going to succeed, it has to be about more than making money.

Richard Branson

Source: Branson's Next Big Bet: http://money.cnn.com/magazines/business2/business2_archive/2006/08/01/8382250/

Contributed by: ~C4Chaos

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 Count Leo Nikolaevich Tolstoi or Tolstoy on money, slavery, monetary system, and fiat money

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.

Leo Tolstoy (1828 - 1910)

Contributed by: peter

A Quote by Irving Fisher on money and debt

in

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

A Quote by G. Edward Griffin on money, fraud, debt, banks, and moral

When banks place credits into your account, they are merely pretending to lend you money. In reality, they have nothing to lend. Even the money that non-indebted depositors have placed with them was originally created out of nothing in response to someone else's loan. So what entitles the banks to collect rent on nothing? It is immaterial that men everywhere are forced by law to accept these nothing certificates in exchange for real goods and services. We are talking here not about what is legal, but what is moral.

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, 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

Syndicate content