David Graeber Quotes
A debt ... is just an exchange that has not been brought to completion.
Graeber, David. Debt: The First 5,000 Years. Melville House, 2011, p. 121.
Sherman, at the height of the California Gold Rush, took a private assignment for Moffett & Company, establishing and running an assaying, banking and minting company in San Francisco
Such an interest rate was not considered high, much less usurious.
See Daniel Webster for an earlier expression of this notion.
He was referring to making the idea of federal deficits emotionally negative.
This is essentially what happened in the Economic Meltdown of 2008 leading to the Great Recession.
Trump as a business man was notorious for setting up business deals where his partners would put up the money. If the enterprise failed the partners were at risk and lost their money while either did not or lost very little. If money was made, however, he took a large share. He not only did this many times but actually admitted it and bragged about his ability to do that. Incredibly enough he even extended this technique to his charity giving. The vast majority of the money he did good things with through his foundation came from other people. There were many years where he gave not a penny to his own foundation, but gave away and took the credit for what was done with other people’s money. The recipients of the foundations grants mostly assumed that Trump was being generous with his own money, and he never disabused them.
David Rolfe Graeber was an American anthropologist and anarchist activist. His influential work in economic anthropology, particularly his books Debt: The First 5000 Years (2011) and Bullshit Jobs (2018), and his leading role in the Occupy movement, earned him recognition as one of the foremost anthropologists and left-wing thinkers of his time.
