Credit System Quotes

I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men

Gold is money. Everything else is credit.

A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men who, even if their action be honest and intended for the public interest, are necessarily concentrated upon the great undertakings in which their own money is involved and who necessarily, by very reason of their own limitations, chill and check and destroy genuine economic freedom.

I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.

Blest paper-credit! last and best supply! That lends corruption lighter wings to fly!

Modern economies rely on debt, which encourages productivity and growth. But that system of credit requires consequences for debtors who default.

Credit reproduces all the fundamental antagonisms of the capitalist world. It accentuates them. It precipitates their development and thus pushes the capitalist world forward to its own destruction.

Very few of the heroes of the Golden Age of American finance had much interest in the solid realities of what underlay their structure of stocks and bonds and credits .

Credit is the lifeblood of business, the lifeblood of prices and jobs.

In this way, the charge that the bank makes for the use of its notes - the interest - is a continual and universal tax upon all the members of the community.

Truth lives, in fact, for the most part on a credit system. Our thoughts and beliefs pass, so long as nothing challenges them, just as bank-notes pass so long as nobody refuses them.

Waiving debts corrupts the credit culture.

The Christians say, that among the ancient Jews, if you committed a crime you had to kill a sheep. Now they say 'charge it.' 'Put it on the slate.' The Savior will pay it. In this way, rascality is sold on credit, and the credit system in morals, as in business, breeds extravagance.

I guess there is no two races of people in worse repute with everybody than the international bankers, and the folks that put all those pins in new shirts.

Credit is a system whereby a person who can not pay gets another person who can not pay to guarantee that he can pay.

We need a system that provides mortgage credit in good times and bad to a broad range of creditworthy borrowers.

Each economy relies on the credit system, that is, on the erroneous assumption that the other will pay back money pumped.

In America, surveillance has always played an outsized role in the relationship between creditors and debtors.

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.

I loved growing up in a little town. I loved knowing people. I loved going to the store and running into people. I loved going into the store and having forgotten my bag, saying, 'Charge it, put it on my bill.' I loved going to the gas station and saying, 'Pete, fill it up.' I loved that continuity of life.

If we are looking for one single action which will enable the poor to overcome their poverty, I would go for credit. Money is power. I have been arguing that credit should be accepted as a human right. If we can come up with a system which allows everybody access to credit while ensuring excellent repayment - I can give you a guarantee that poverty will not last long.

If some lose their whole fortunes, they will drag many more down with them . . . believe me that the whole system of credit and finance which is carried on here at Rome in the Forum, is inextricably bound up with the revenues of the Asiatic province. If Those revenues are destroyed, our whole system of credit will come down with a crash.

Credit is probably more acceptable in American culture than elsewhere.

Without the parallel development of systems of monetary - and credit-based exchange - there could have been no development of economies beyond the most primitive organizational forms and the most geographically restricted sales.

As the run-by-capital society of producers turned since into the run-by-capital society of consumers, I would say that the main, indeed "meta", function of the governments has become now to assure that it is the meetings between commodities and the consumers, and credit issuers and the borrowers, that regularly take place.