Share on Facebook Share on Twitter Comment on this quoteShare via Email Print this Page Daily Quotes Archives2023-03-22 Mar 22, 2023The modern banking system manufactures “money” out of nothing; and the process is, perhaps, the most, astounding piece of “sleight of hand” that was ever invented. In fact, it was not invented. It merely “grew”. ... Banks in fact are able to create (and cancel) modern “deposit money”, just as much as they were originally able to create, or call in, their own original forms of private notes. They can, in fact, inflate and deflate, i.e., mint, and un-mint the modern “ledger-entry” currency. ~ Major L. L. B. AngasWhile boasting of our noble deeds we're careful to conceal the ugly fact that by an iniquitous money system we have nationalized a system of oppression which, though more refined, is not less cruel than the old system of chattel slavery.~ Horace GreeleyBankruptcies of governments have, on the whole, done less harm to mankind than their ability to raise loans.~ R. H. Tawney Mar 21, 2023The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.~ Vladimir Ilyich LeninThe chief duty of the National Government in connection with the currency of the country is to coin money and declare its value. Grave doubts have been entertained whether Congress is authorized by the Constitution to make any form of paper money legal tender. The present issue of United States notes has been sustained by the necessities of war; but such paper should depend for its value and currency upon its convenience in use and its prompt redemption in coin at the will of the holder, and not upon its compulsory circulation. These notes are not money, but promises to pay money. If the holders demand it, the promise should be kept.~ James A. GarfieldLarge fortunes are all founded either on the occupation of land, or lending or the taxation of labor.~ John Ruskin Mar 20, 2023The high office of the President has been used to foment a plot to destroy the American's freedom and before I leave office, I must inform the citizen of this plight.~ John F. KennedyWhat is needed here is a return to the Constitution of the United States. We need to have a complete divorce of Bank and State. The old struggle that was fought out here in Jackson's day must be fought over again... The Federal Reserve Act should be repealed and the Federal Reserve Banks, having violated their charters, should be liquidated immediately. Faithless Government officers who have violated their oaths of office should be impeached and brought to trial. Unless this is done by us, I predict that the American people, outraged, robbed, pillaged, insulted, and betrayed as they are in their own land, will rise in their wrath and send a President here who will sweep the money changers out of the temple.~ Louis McFaddenIf monopoly persists, monopoly will always sit at the helm of government. I do not expect monopoly to restrain itself. If there are men in this country big enough to own the government of the United States, they are going to own it.~ Woodrow Wilson Mar 17, 2023That is what our money system is. If there were no debts in our money system, there wouldn't be any money.~ Marriner Stoddard EcclesI am afraid that the ordinary citizen will not like to be told that the banks can and do create and destroy money. And they who control the credit of a nation direct the policy of governments, and hold in the hollow of their hands the destiny of the people.~ Reginald McKennaSomeone has to borrow every dollar we have in circulation, cash or credit.~ Robert Hemphill Mar 16, 2023It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.~ Henry FordAll the perplexities, confusion and distress in America arise not from defects in their Constitution or Confederation, nor from want of honor or virtue, so much as downright ignorance of the nature of coin, credit, and circulation.~ John AdamsLenin is said to have declared that the best way to destroy the Capitalistic System was to debauch the currency. . . Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million can diagnose.~ John Maynard Keynes Previous week's quotes Next week's quotes Share on Facebook Tweet Email Print