Banking System Quotes - Page 2

• By means of the banking system the distribution of capital as a special business, a social function, is taken out of the hands of the private capitalists and usurers. But at the same time, banking and credit become the most effective means of driving captialist production beyond its own limits and one of the most effective vehicles of crises and swindle.

  Karl Marx

  Taken, Mean, Hands

  Karl Marx (1975). “Karl Marx, Frederick Engels: Karl Marx: Capital, Vol. 3”, International Pub

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• In the North, neither greenbacks, taxes, nor war bonds were enough to finance the war. So a national banking system was created to convert government bonds into fiat money, and the people lost over half of their monetary assets to the hidden tax of inflation. In the South, printing presses accomplished the same effect, and the monetary loss was total.

  G. Edward Griffin

  War, Loss, Government

  "The creature from Jekyll Island". Book by G. Edward Griffin, 1994.

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• Historically, usury was defined as any interest whatever on an unproductive loan.Our whole banking system I have ever abhorred, I continue to abhor, and I shall die abhorring.

  John Adams

  Usury, Banking, Loan

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• The Federal Reserve Bank of New York is eager to enter into close relationship with the Bank for International Settlements....The conclusion is impossible to escape that the State and Treasury Departments are willing to pool the banking system of Europe and America, setting up a world financial power independent of and above the Government of the United States....The United States under present conditions will be transformed from the most active of manufacturing nations into a consuming and importing nation with a balance of trade against it.

  Louis Thomas McFadden

  Money, New York, Independent

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

  Michael Lewis

  Believe, Long, People

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• You're having government spending on the economy being cut almost everywhere. That means that the only source of spending for growth has to come from borrowing from the banking system.

  Michael Hudson

  Mean, Cutting, Government

  Source: www.counterpunch.org

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• You have to eventually nationalize US banks, you have to take the problem by the horns. In my view actually most of the US banking system is insolvent.

  Nouriel Roubini

  Views, Banking, Problem

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• The collapse of the world's banking system and the impending disaster of accelerating climate change are not separate phenomena. They are simply the most visible symptoms of a particular model of capitalism that will bring civilisation to its knees. But those symptoms will not get sorted unless and until we commit to a radical transformation of the way we create and distribute wealth in the world today

  Jonathon Porritt

  Climate, Banking, World

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• I confidently predict the collapse of capitalism and the beginning of history. Something will go wrong in the machinery that converts money into money, the banking system will collapse totally, and we will be left having to barter to stay alive. Those who can dig in their garden will have a better chance than the rest. I'll be all right; I've got a few veg.

  Margaret Drabble

  Garden, Banking, Alive

  The Guardian, January 2, 1993.

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• Among the largest banks, the capital ratios remain good and I don’t expect any serious problems . . . . among the large, internationally active banks that make up a very substantial part of our banking system.

  Ben Bernanke

  Banking, Ratios, Serious

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• The smaller man approaching our modern banking system, which controls all issue of credit and therefore pretty well all our industrial and commercial activities, is not what the controllers of that credit call "interesting." He borrows with difficulty and upon high terms, and must pledge security out of all proportion to that which his richer rival has to put down.

  Hilaire Belloc

  Men, Issues, Interesting

  Hilaire Belloc (2016). “The Crisis Of Civilization”, p.101, TAN Books

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• Is this complicated, risky [banking] system the best we can have?

  Anat R. Admati

  Banking, Complicated

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• If you want to change the way your banking system is regulated, if you want to learn the mistakes of what's gone wrong, then you have to change your government.

  George Osborne

  Mistake, Government, Gone

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• I can't tell Black people to fight a war that is Israel's war. What kind of leader will you be, or should I be, to allow these babies Black, white and brown, to fight Israel's war, because Zionists dominate the government of the United States of America and her banking system.

  Louis Farrakhan

  Baby, Religious, War

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• Essentially, not only do we believe in this myth of 'de-risking', but it has become the one overriding goal; de-risking above growth, de-risking above innovation, de-risking above everything else. And we've reached the point where the Fed is using $70 Billion a month to 'de-risk' a largely insolvent banking system. And this can only end badly. The idea that you can do capitalism without risk is ridiculous on its face.

  Andreas Antonopoulos

  Believe, Ideas, Goal

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• U.S. Government has said they are now going to go after the terrorist's electronic banking system. You know what they should do? They should transfer bin Laden's funds to my bank. They'd mess up his deposits, screw up his statement and nickel and dime him to death with service charges.

  Jay Leno

  Government, Screw Ups, Dimes

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• Human beings today are surrounded by huge institutions we can never penetrate: the City, the banking system, political and advertising conglomerates, vast entertainment enterprises. They've made themselves user friendly, but they define the tastes to which we conform. They're rather subtle, subservient tyrants, but no less sinister for that.

  J. G. Ballard

  Wall, Cities, Tyrants

  "A User's Guide to the Millennium". Book by J. G. Ballard, 1996.

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• In the U.S. more than any other place, the banking system is insane. Millions of Americans lost their houses. Because of what? Because of the banking system. This American banking system is also coming to Europe. We can say today that the banks and high financiers run the world.

  Costa-Gavras

  Running, Europe, House

  Source: progressive.org

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• Italy spills over to everything. Italy is a huge banking system. It has been the major banking system in Eastern Europe. It's worked with Austria's banking system. There's all sorts of interplays there. So it's not the PIIGS one should worry about. Germany hasn't even begun falling yet. And when Germany falls, and it will, that's when the panic begins to set in.

  George Friedman

  Fall, Europe, Worry

  Source: www.businessinsider.com

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• Peak oil is already upon us. It is destroying our banking system, that is, our system for marshalling capital, and that is about to put us out of business-as-usual. So, we have to carry on with business-not-so-usual. This could mean anything from your children finding careers in farming (rather than show biz or plastic surgery) to reorganizing households differently to traveling from New York to Boston by boat.

  James Howard Kunstler

  New York, Children, Mean

  Interview With Simmons B. Buntin, www.terrain.org.

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• The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.

  Alan Greenspan

  Mean, Rights, Understanding

  "Alan Greenspan wants the US to go back on the gold standard" by Bill Bonner, www.businessinsider.com. July 10, 2016.

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• For my own part, I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system, the S.I.V.’s — I didn’t see any of that coming until it happened.

  Janet Yellen

  Agency, Appreciate, Risk

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• The gang that trashed the town was now back in town to trash it even more and you'll never guess.. they decided that the only way to save an economy brought to its knees by their collective actions and the banking system they represent was to, well, no, surely not.. hand trillions of taxpayer-borrowed dollars to the Rothschild-controlled banks and insurance companies like CitiGroup, J. P. Morgan, AIG and a long list of others.

  David Icke

  Hands, Long, Way

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• It's just very hard to teach a class of students about what has happened in the Global Financial Crisis, how we ended up there and how we got to where we are today, without having some basic, non-trivial understanding of the financial sector, credit, and the banking system.

  Alan M. Taylor

  Class, Understanding, Banking

  Source: www.truth-out.org

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• This crisis started probably due to the freedom they gave to the banks. First President [Ronald] Reagan and then President [Bill] Clinton. So, for [Barack] Obama it is extremely difficult to change now, to find a way to organize this banking system [differently].

  Costa-Gavras

  President, Banking, Bills

  Source: progressive.org

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