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Hemphill


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Money is the most important subject intellectual persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it…

joan robinson


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The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived…

Ralph M. Hawtrey


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Banks lend by creating credit. They create the means of payment out of nothing. Ralph M. Hawtrey, Former Secretary of the British Treasury

Henry Kissinger


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Who controls the money, controls the world. Henry Kissinger (1973)

John K. Galbraith


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The process by which banks create money is so simple that the mind is repelled. John K. Galbraith – “Money: Whence it came, where it…

Henry Ford


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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would…

William Paterson


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The bank hath benefit of interest on all moneys which it creates out of nothing William Paterson, founder of the Bank of England, 1694

Modern Money Mechanics


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Neither paper currency nor deposits have value as commodities, intrinsically; a ‘dollar’ bill is just a piece of paper. Deposits are merely book entries. Modern…

Rothbard


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Commercial banks – that is, fractional reserve banks – create money out of thin air. Essentially, they do it in the same way as counterfeiters.…

A Smith


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All money is a matter of belief. Adam Smith