Quotes About Finance

If you owe the bank a hundred thousand dollars, the bank owns you. If you owe the bank a hundred million dollars, you own the bank. — American Proverb

Banks are institutions to which the government has granted the power to create money—or

In 1694, a consortium of English bankers made a loan of £1,200,000 to the king. In return they received a royal monopoly on the issuance of banknotes. What this meant in practice was they had the right to advance IOUs for a portion of the money the king now owed them to any inhabitant of the kingdom willing to borrow from them, or willing to deposit their own money in the bank—in effect, to circulate or "monetize" the newly created royal debt.

whenever there are some people calling for the elimination of the class that lives by collecting interest, there will be others to object that this will destroy the livelihood of widows and pensioners.

Henry Ford once remarked that if ordinary Americans ever found out how the banking system really worked, there would be a revolution tomorrow.)

The difference, though, was that this time, the bankers were doing it on an inconceivable scale: the total amount of debt they had run up was larger than the combined Gross Domestic Products of every country in the world—and it threw the world into a tailspin and almost destroyed the system itself.

Credit money is based on trust, and in competitive markets, trust itself becomes a scarce commodity.

what is the status of all this money continually being funneled into the U.S. treasury? Are these loans? Or is it tribute?

I always wonder how banks manage to go bankrupt at all considering they can just make up the money, and especially, what is stopping them from lending money to themselves.

True, earlier figures like Adam Smith and David Ricardo were suspicious of credit systems, but already by the mid–nineteenth century, economists who concerned themselves with such matters were largely in the business of trying to demonstrate that, despite appearances, the banking system really was profoundly democratic.

As for the credit partnership, it is also called the "partnership of the penniless" (sharika al-mafalis).

To this day, this loan has never been paid back. It cannot be. If it ever were, the entire monetary system of Great Britain would cease to exist.

IMF is really designed to protect creditors not debtors.

For most of the Middle Ages, the economic nerve center of the world economy and the source of its most dramatic financial innovations was neither China nor India, but the West, which, from the perspective of the rest of the world, meant the world of Islam.

Paper money was debt money, and debt money was war money, and this has always remained the case.

Modern bankac?l?k sistemleri de ilk önce savaÅŸlar? finanse etmek üzere oluÅŸturulmuÅŸtur.

Ninety percent of millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate. —ANDREW CARNEGIE

Finance capital increasingly looked abroad for higher rates of return.

the financial market is not something that exists like you or I, Karin, or this bottle of water on the table. The moment we stop believing in it, it ceases to exist.

He read political science, mass media communications, finance, and international conflict resolution,

The thing you've got to understand about Eva and me is that we have a system. She does the wanting, I do the paying. That's how it's always been with us, and if I'm to be honest, until now it's suited me as well as it has her. Maybe better, since it's spared me the burden of having to want things for myself.

There's no business like show business, but there are several businesses like accounting.

I would never find a bank launched for worse reasons by more inept men.

What we have here is a situation where the pull factor of rising reserves and stronger creditworthiness actually created its own push factor by depressing U.S. yields and therefore pushing more capital toward higher-yielding developing countries.