Banking System Quotes

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

Under the gold standard, a free banking system stands as the protector of an economy's stability and balanced growth ... 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 ~ Alan Greenspan

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

A concrete embodiment of the jubilee commandment was evidenced in a rural church in Iowa during the "farm crisis." The banker in the town held mortgages on many farms. The banker and the farmers belonged to the same church. The banker could have foreclosed. He did not because, he said, "These are my neighbors and I want to live here a long time." He extended the loans and did not collect the interest that was rightly his. The pastor concluded, "He was practicing the law of the Jubilee year, and he did not even know it." The pastor might also have noted that the reason the banker could take such action is that his bank was a rare exception. It was locally and independently owned, not controlled by a larger Chicago banking system. ~ Walter Brueggemann

What the banking system needs is creditors who monitor risk and cut their exposure when that risk is too high. Unlike regulators, creditors and counterparties know the details of a deal and have their own money on the line. ~ Tyler Cowen

It's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation. ~ Henry Paulson

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

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

The bank - or the Company - needs - wants -insists - must have - as though the bank or the Company were a monster, with thought and feeling, which had ensnared them ... The banks were machines and masters all at the same time ...
They breathe profits; they eat the interest on money. If they don't get it they die ... It is a sad thing, but it is so. It is just so. ~ John Steinbeck

Nothing brings home the fragility of the banking system or the potency of a financial crisis more vividly than writing about these issues from the eye of the storm. Watching the world's central bankers and finance officials grappling with the current situation - trying one thing after another to restore confidence, throwing everything they can at the problem, coping daily with unexpected and startling shifts in market sentiment - reinforces the lesson that there is no magic bullet or simple formula for dealing with financial panics. ~ Liaquat Ahamed

I think what they've been doing is largely almost in firefighting mode without a good conceptual framework - either at the micro or the macro level. Micro, you would ask: "What kind of financial or banking system do we want?" Macro, you would say: "What are the underlying problems in the structure of our economy?" ~ Joseph Stiglitz

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

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. ~ Alan Greenspan

They [political leaders ] thought the only problem was the banking system, and if they fixed the banking system, all would be fine. But the banking system and the mortgage problem were symptomatic of some deeper problems, and evidently they still haven't recognized those deeper problems. ~ Joseph Stiglitz

By the time Obama came into office, Washington had already agreed over a period of a few weeks to a $700 billion government infusion into the world banking system. Nothing of the sort had ever been done before, and it was done spit spot with very little national debate. ~ John Podhoretz

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

When corporations are given the ring of Gyges, we can expect catastrophic results (for the ecosystem, the banking system, public health, etc.). ~ Jonathan Haidt

Now I don't know much about finances, but I do know not to trust these smooth-faced wolves in sheep's clothing. We trust these confidence tricksters because they know best, right? They'll be able to advise us, won't they? Yeah, they know best all right. They throw legal dust in our eyes, always keeping something back and dressing up their untruths with promises and alluring pound-note signs. But all the time they're making a killing out of us. A FUCKING KILLING! ~ Karl Wiggins

A healthy Banking system is one of the vital parts of a nation's foundation. ~ Hendrith Smith

I do think that the banking system is now in the most perilous state we've seen in over 70 years. ~ Nigel Farage

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

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

The Fed is pushing a variety of workarounds that would inject trillions in new money into the economy while bypassing the banking system altogether. Time will tell whether or not this will succeed. Meanwhile, a serious danger lurks around the corner. Once the recession is over, the lending will start again. With fractional-reserve banking and limitless supplies of cash on hand, we will likely see the overall price trends reversed, from deflation to inflation to possible hyperinflation. ~ Llewellyn Rockwell

Someone has to borrow every dollar we have in circulation, cash or credit. ~ Robert W. Hemphill

The peculiar essence of our banking system is an unprecedented trust between man and man. And when that trust is much weakened by hidden causes, a small accident may greatly hurt it, and a great accident for a moment may almost destroy it. ~ Walter Bagehot

By the 1890s, the leading Wall Street bankers were becoming increasingly disgruntled with their own creation, the National Banking System ... while the banking system was partially centralized under their leadership, it was not centralized enough. ~ Murray Rothbard

There's a loss of faith in the banking system that for so long has been the backbone of prosperity and growth. ~ Lucy Powell

The money problem facing the country from 1789 to 1896 existed because Congress never exercised is authority to "coin money or regulate the value thereof" - but rather delegated that authority, sometimes by charter and sometimes by default, to the banking system. This despite the provision in the Constitution that charged Congress with the power to 'coin money, regulate the value thereof, and of foreign Coin, and fix the Standards of weight and Measures.' ~ William Jennings Bryan

Savers have to be punished so debtors can be saved.

Why? Because if debtors are rescued, that makes it possible for more debts to be issued in the future.

And why is that important? Because the banking system needs ever more loans in order to survive. ~ Chris Martenson

Usury is the cancer of the world, which only the surgeon's knife of fascism can cut out of the life of the nations. ~ Ezra Pound

Time is running out fast. I think we have maybe a few months
it could be weeks, it could be days
before there is a material risk of a fundamentally unnecessary default by a country like Spain or Italy which would be a financial catastrophe dragging the European banking system and North America with it. So they have to act now. ~ Willem Buiter

In Africa it's difficult to carry the money, it's difficult to have a banking system with tellers, with distribution of cash. So they are using their mobile phones. ~ Maurice Levy

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

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

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

In September 2008, the overleveraged and undermanaged U.S. banking system suffered a terrifying collapse. And that, in turn, nearly took the whole country down. ~ Roger Altman

What Ethereum Is Good For Ethereum is suited to building economic systems in pure software. In other words, it's software for business logic, wherein people (users) can move money (data representing value) around with the speed and scale that we normally get with data.12 Not the three- to seven-day floating period you get with the commercial banking system. Or the fees associated with vendors such as Visa, MasterCard, and PayPal. With a simple Ethereum application, for example, it is fairly trivial to pay hundreds of thousands of people, in hundreds of countries, small amounts every few minutes, whereas in the legacy banking system you would need an entire payroll department working overtime to constantly rebalance your account ledgers and deal with the cross-border issues. ~ Chris Dannen

The Crusaders lead to the Knights Templar; the Knights Templar lead to the Masons; and the Masons lead to the Shriners, a secret society that controls world government, toys with our banking system, and single-handedly keeps the fez industry afloat. ~ Stephen Colbert

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

Human beings today ... are surrounded by huge institutions we can never penetrate: the City [London's Wall Street], 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

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

When the Federal Reserve Act was passed, the people of these United States did not perceive that a world banking system was being set up here. A super-state controlled by international bankers and international industrialists acting together to enslave the world for their own pleasure. Every effort has been made by the Fed to conceal its powers but the truth is - The Fed has usurped the government!! ~ Louis Thomas McFadden

You are a den of vipers. I intend to rout you out and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning. ~ Andrew Jackson

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

If you don't have a functioning financial system the world economy won't be revived. All the major economies have their responsibility to assist at a pace which is required to clean up the balance sheet of the banking system and to ensure that credit flows are resumed. ~ Manmohan Singh

There is nothing left now for us but to get ever deeper and deeper into debt to the banking system in order to provide the increasing amounts of money the nation requires for its expansion and growth. ~ Frederick Soddy

Banks are to the economy what the heart is to the human body. They cycle necessary capital through the whole, and they are barely noticed until pressure, necessity, or crises. ~ Hendrith Smith

We don't have a good legal justification for breaking up the banking system. But if I could wave a magic wand, I'd break up the banking system. ~ Kenneth C. Griffin

Banks are nothing but old fashioned money lenders. They encourage you to borrow, to get in debt, and when you can't pay back the loan they take your home away. At least a money lender only breaks your legs. ~ Karl Wiggins

The power of the big fish in general to regroup is hardly restricted to banking. When Standard Oil was broken up in 1911, the immediate effect was to replace a national monopoly with a number of regional monopolies controlled by many of the same Wall Street interests. Ultimately, the regional monopolies regrouped: In 1999 Exxon (formerly Standard Oil Company of New Jersey) and Mobil (formerly Standard Oil Company of New York) reconvened in one of the largest mergers in US history. In 1961 Kyso (formerly Standard Oil of Kentucky) was purchased by Chevron (formerly Standard Oil of California); and in the 1960s and 1970s Sohio (formerly Standard Oil of Ohio) was bought by British Petroleum (BP), which then, in 1998, merged with Amoco (formerly Standard Oil of Indiana).

The tale of AT&T is similar. As the result of an antitrust settlement with the government, on January 1, 1984, AT&T spun off its local operations so as to create seven so-called Baby Bells. But the Baby Bells quickly began to merge and regroup. By 2006 four of the Baby Bells were reunited with their parent company AT&T, and two others (Bell Atlantic and NYNEX) merged to form Verizon.

So the hope that you can make a banking breakup stick (even if it were to be achieved) flies in the face of some pretty daunting experience. Also, note carefully a major political fact: The time when traditional reformers had enough power to make tough banking regulation really work was the time when ~ Gar Alperovitz

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

The public has lost faith in the ability of Social Security and Medicare to provide for old age. They've lost faith in the banking system and in conventional medical insurance. ~ Ron Chernow

She stands and moves within the invisible pentacle of her own virginity. She is an unbroken egg: she is a sealed vessel; she has inside her a magic space the entrance to which is shut tight with a plug of membrane; she is a closed system; she does not know how to shiver. ~ Angela Carter

To say that you now trust the Russian military command and control system because some Russian general told you from the bottom of his heart that's the case, strikes me as most unrealistic. ~ William Odom

A Student is the most important person ever in this school ... in person, on the telephone, or by mail.
A Student is not dependent on us ... we are dependent on the Student.
A Student is not an interruption of our work..the Studenti s the purpose of it. We are not doing a favor by serving the Student ... the Student is doing us a favor by giving us the opportunity to do so.
A Student is a person who brings us his or her desire to learn. It is our job to handle each Student in a manner which is beneficial to the Student and ourselves. ~ William W. Purkey

From mirror to mirror - this is what I happen to dream of - the totality of things, the whole, the entire universe, divine wisdom could concentrate their luminous rays into a single mirror. Or perhaps the knowledge of everything is buried in the soul, and a system of mirrors that would multiply my image would then reveal to me the soul of the universe, which is hidden in mine. ~ Italo Calvino

collectivity of politically astute citizens who, by virtue of our vaunted system of universal education and our freedom of opportunity, would be prepared to govern. ~ Ralph Ellison

When dealing with a complex adaptive system, sticking to the plan is a recipe for failure. ~ Anthony Mersino

Sperm pass on none of their mitochondria during conception, so all mitochondrial information is transferred from generation to generation through mothers alone. Such a system means that there will be many extinctions along the way. A woman endows all her children with her mitochondria, but only her daughters have the mechanism to pass it onward to future generations. So if a woman has only sons or no children at all - and that happens quite often, of course - her personal mitochondrial line will die with her. All her descendants will still have mitochondria, but it will come from other mothers on other genetic lines. In consequence, the human mitochondrial pool shrinks a little with every generation because of these localized extinctions. Over time, the mitochondrial pool for humans has shrunk so much that, almost unbelievably but rather wonderfully, we are all now descended from a single mitochondrial ancestor - a woman who lived in Africa about 200,000 years ago. You might have heard her referred to as Mitochondrial Eve. She is, in a sense, mother of us all. ~ Bill Bryson

Everyone who remembers his own education remembers teachers, not methods and techniques. The teacher is the heart of the educational system. ~ Sidney Hook

Our educational system needs to give equal importance to the intellect and the heart. ~ Mata Amritanandamayi

Under a system in which no single question is submitted to the electorate for direct decision, an ardent minority for or against a particular measure may often count for more than an apathetic majority. ~ Patrick, Baron Devlin

One of the quickest ways to feel happy is through the pranayama technique called circular breathing.
When you equalize the lengths of your inhale and exhale, you balance the sympathetic and parasympathetic sides of your nervous system. ~ Catherine Carrigan

Capitalism has become systemically risky when a single financial algorithm like the one that David X. Li created brought the entire global economic system close to collapse in 2008. ~ Said Elias Dawlabani

For those scientists who take it seriously, Darwinian evolution has functioned more as a philosophical belief system than as a testable scientific hypothesis. This quasi-religious function of the theory is, I think, what lies behind many of the extreme statements that you have doubtless encountered from some scientists opposing any critical analysis of neo-Darwinism in the classroom. It is also why many scientists make public statements about the theory that they would not defend privately to other scientists like me. ~ James A. Shapiro

And everything was made of paper: sentences, pardons, pleas, bad records, demerits, proof of guilt, but never, it seemed, proof of innocence. If there were no paper, Carter felt, the entire judicial system would collapse and disappear. ~ Patricia Highsmith

So i say, change the base! If you change the base, anybody will be as tall as anybody else! My belief is poverty is not caused by poor ppl. Poverty is caused by the system. Poverty is caused by the policies that we pursue. ~ Muhammad Yunus

The United States brags about its political system, but the President says one thing during the election, something else when he takes office, something else at midterm and something else when he leaves. ~ Deng Xiaoping

When our earliest human ancestors left the trees and moved to the open grasslands of the savanna, they adopted an upright stance. Possessing already this powerful visual system, they could see far into the distance (giraffes and elephants might stand taller, but their eyes are on the sides, giving them instead panoramic vision). This allowed them to spot dangerous predators far away on the horizon and detect their movements even in twilight. Given a few seconds or minutes, they could plot a safe retreat. At the same time, if they focused on what was nearest at hand, they could identify all kinds of important details in their environment - footprints and signs of passing predators, or the colors and shapes of rocks that they could pick up and perhaps use as tools. ~ Robert Greene

The brain is the organ and instrument of the mind, and controls the whole body. In order for the other parts of the system to be healthy, the brain must be healthy. And in order for the brain to be healthy, the blood must be pure. ~ Dennis E. Smith

Trying to get more learning out of the present system is like trying to get the Pony Express to compete with the telegraph by breeding faster ponies. ~ Edward Fiske

Political scientists followed up on Todorov's initial research by identifying a category of voters for whom the automatic preferences of System 1 are particularly likely to play a large role. They found what they were looking for among politically uninformed voters who watch a great deal of television. As expected, the effect of facial competence on voting is about three times larger for information-poor and TV-prone voters than for others who are better informed and watch less television. Evidently, ~ Daniel Kahneman

The Khodorkovsky case is typical of the "oprichnina" - the system of oppression. ~ Vladimir Sorokin

Unfortunately, money in politics is an insidious thing - and a loophole in our campaign finance system was taken advantage of with money going to existing or new 527 groups with the sole purpose of influencing the election. ~ Olympia Snowe

The reality is that while heliocentrism was discussed and often accepted within Catholic circles - it was effectively the only place where it could be - the more traditional view of the solar system still prevailed even among leading scientists. So it's hardly surprising that Galileo's Catholic judges had difficulty accepting his views, especially when they saw themselves as defending scientific orthodoxy and were supported in this by the scientific establishment. ~ Michael Coren

The billionaire investor George Soros has coined a term to describe this perspective: "free market fundamentalism." It is the belief not simply that free markets are the best way to run an economic system, but that free markets are the only way that will not ultimately destroy our other freedoms. "The doctrine of laissez-faire capitalism holds that the common good is best served by the uninhibited pursuit of self-interest,"36 Soros wrote. ~ Naomi Oreskes

There's danger in the system of justice that makes no allowance for circumstance. ~ Erika Johansen

Mathematicians can and do fill in gaps, correct errors, and supply more detail and more careful scholarship when they are called on or motivated to do so. Our system is quite good at producing reliable theorems that can be solidly backed up. It's just that the reliability does not primarily come from mathematicians formally checking formal arguments; it comes from mathematicians thinking carefully and critically about mathematical ideas. ~ William Thurston

I had these glorified ideas about San Francisco and its drug culture - I thought inspiration would just hit me and I would get these San Francisco drugs in my system and all of a sudden an amazing record would come out. But that's not really what happened at all. ~ Zachary Cole Smith

Muslims, who have a completely different value system, come to the West, then they should accept that there are certain basic values in the West intrinsic to our culture. Just as I wouldn't suggest that any Westerner walk down the streets of Saudi Arabia in a bikini. ~ John Cleese

Capitalism is not the system of the past; it is the system of the future
if mankind is to have a future ~ Ayn Rand

I like to judge people and it was clear to me that Colin's life has been about as exciting as a cluster headache. You can tell this just from his humour tumour which runs through every conversation you have with him. I got the impression that Colin had arrived at his early fifties resenting the fact that he's spent his entire career worshiping at the altar of Dynasty PLC. But he is now so indoctrinated by the world of corporate banking that he's forgotten how to express the real him.

This is what a life working for large corporations does to people. The workplace is a place not to be you; it's a place to be the corporate you. The you that doesn't really exist. We all see this corporate you and pretend that it's a normal part of life. But we know that something isn't quite right. We know that the real you is slowly fading away like old wallpaper. The corporate you is a myth; just like Icarus. And yet we are powerless against it. All of us are powerless against the wrath of the corporate world. ~ Rupert Dreyfus

A man who is holding down a menial job and thereby supporting a wife and children is doing something authentically important with his life. He should take deep satisfaction from that, and be praised by his community for doing so. If that same man lives under a system that says the children of the woman he sleeps with will be taken care of whether or not he contributes, then that status goes away. I am not describing a theoretical outcome, but American neighborhoods where, once working at a menial job to provide for his family made a man proud and gave him status in his community, and where now it doesn't. Taking the trouble out of life strips people in major ways which human beings look back on their lives and say, 'I made a difference. ~ Charles Murray

Loopy as the Motion Picture Association of America's ratings system is, it's better than what you'd probably get by putting such decisions in the federal government hands. ~ Timothy Noah

A robot is an autonomous system which exists in the physical world, can sense its environment, and can ACT ON IT ~ Maja J. Mataric

Lyor Cohen, who I consider my mentor, once told me something that he was told by a rabbi about the eight degrees of giving in Judaism. The seventh degree is giving anonymously, so you don't know who you're giving to, and the person on the receiving end doesn't know who gave. The value of that is that the person receiving doesn't have to feel some kind of obligation to the giver and the person giving isn't doing it with an ulterior motive. It's a way of putting the giver and receiver on the same level. It's a tough ideal to reach out for, but it does take away some of the patronizing and showboating that can go on with philanthropy in a capitalist system. The highest level of giving, the eight, is giving in a way that makes the receiver self-sufficient. ~ Jay-Z

We want to make sure that we incentivize the health care system to be designed to provide you the best quality health care possible. ~ Valerie Jarrett

I'm happy with who I am inside. I'd hate to have accolades and all that and not really be happy with who I was. So I'm really thankful for my family and for the support system that I have for being the person that I am today. I'm proud of who I am. ~ Keke Palmer