Reginald McKenna Quotes

I am afraid that the ordinary citizen will not like to be told that the banks can and do create and destroy money. And they who control the credit of a nation direct the policy of governments, and hold in the hollow of their hands the destiny of the people.

Whoever owns the means of credit controls the industrial life of the nation.

Whoever controls the volume of money in any country is absolute master of all industry and commerce.

Banks lend by creating credit. They create the means of payment out of nothing

The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented.

We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it

If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve.

The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.

In fact, without any exaggeration, the current mechanism of money creation through credit is certainly the "cancer" that's irretrievably eroding market economies of private property.

Who controls the issuance of money controls the government!

Contrary to what most people think, bank money is much more important than state money. In Greece, for example, bank money makes up 84.26% of the total money supply.

All the banks in Christendom could not control money.

Give me the power to issue a nation’s money; then I do not care who makes the laws.

Tangible currency (coins and dollar bills) together make up less than 3 percent of the U.S. money supply. The other 97 percent exists only as data entries on computer screens, and all of this money was created by banks in the form of loans.

The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent.

If there were no debts in our money system, there wouldn't be any money.

It is no coincidence that the century of total war coincided with the century of central banking.

In truth, money is not created until the instant it is borrowed. It is the act of borrowing which causes it to spring into existence. And, incidentally, it is the act of paying off the debt that causes it to vanish.

In a world awash in debt, power shifts to creditors.

The whole profit of the issuance of money has provided the capital of the great banking business as it exists today.

He who controls the money supply of a nation controls the nation.

The modern banking system manufactures money out of nothing.

Modern money is almost altogether credit money.

Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talks of the sovereignty of Parliament and of democracy is idle and futile.

We print money. The people that print the money is actually us. The government of the United States of America. By its very nature, we control that, and this system is there as representation of us.