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…
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…
Banks lend by creating credit. They create the means of payment out of nothing. Ralph M. Hawtrey, Former Secretary of the British Treasury
Who controls the money, controls the world. Henry Kissinger (1973)
The process by which banks create money is so simple that the mind is repelled. John K. Galbraith – “Money: Whence it came, where it…
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…
The bank hath benefit of interest on all moneys which it creates out of nothing William Paterson, founder of the Bank of England, 1694
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…
Commercial banks – that is, fractional reserve banks – create money out of thin air. Essentially, they do it in the same way as counterfeiters.…
All money is a matter of belief. Adam Smith