Archive for the ‘finance’ Category

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Milton Friedman: Perfectly Worthless Paper

Posted by admin on Monday, November 30, 2015

Milton Friedman Money Quotation saying The Federal Reserve puts ink to paper in a valueless way, as only government could. Milton Friedman said:

Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless
— Milton Friedman

Paul Tudor Jones: Brokerage Conflict

Posted by admin on Saturday, November 14, 2015

Paul Tudor Jones Money Quotation saying there would be a dramatic change in trading if market losses meant commensurate loss for brokers. Paul Tudor Jones said:

I got out of the brokerage business because I felt there was a gross conflict of interest: If you are charging a client commissions and he loses money, you aren’t penalized
— Paul Tudor Jones

Louis Brandeis: Taking Others’ Golden Eggs

Posted by admin on Sunday, November 8, 2015

Louis Brandeis Money Quotation saying it is more efficient to take other people’s golden eggs than to wait for yours to be laid by the goose. Louis Brandeis said:

The goose that lays golden eggs has been considered a most valuable possession. But even more profitable is the privilege of taking the golden eggs laid by somebody else’s goose. The investment bankers and their associates now enjoy that privilege
— Louis Brandeis (1913)

Mark Wagner: IOU Made of Money

Posted by admin on Saturday, November 7, 2015

Money collage artist Mark Wagner asking the question – if you create a work of art (titled I.O.U.) from money, is the debt considered repayed? Mark Wagner said:

If you make an IOU out of money for a friend, do you still owe them money?

— Mark Wagner

Mervyn King: How Do Banks Create Money

Posted by admin on Thursday, October 22, 2015

Mervyn King Money Quote confirming something that John Kenneth Galfbraith called so simple the mind is repelled, with something so important a deeper mystery seems only decent. Mervyn King Governor of the Bank of England said:(PDF page 3, paragraph 3)

When banks extend loans to their customers, they create money by crediting their customers’ accounts
— Mervyn King

Dorothy L. Sayers: Opportunity Made Too

Posted by admin on Friday, October 9, 2015

Dorothy L. Sayers Money Quotation saying talent for making opportunities is often accompanied by men with money. Dorothy L. Sayers said:

The really essential factors of success in any undertaking are money and opportunity, and as a rule, the man who can make the first can make the second
— Dorothy L. Sayers

Pope Francis: Wielding Economic Power

Posted by admin on Saturday, October 3, 2015

Pope Francis Money Quotation saying that “trickle-down theory” has no proof of viability or examples of successfully benefiting low-wage workers. Pope Francis said:

This opinion, [trickle-down-theory] which has never been confirmed by the facts, expresses a crude and naïve trust in the goodness of those wielding economic power and in the sacralized workings of the prevailing economic system
— Pope Francis

Pope Francis: Influence of Mammon

Posted by admin on Friday, October 2, 2015

Pope Francis Money Quotation saying (in a reference to the first commandment) that the idolatry of money worship leads finance industry to take advantage of poor workers. Pope Francis said:

The new colonialism takes on different faces. At times it appears as the anonymous influence of mammon: corporations, loan agencies, certain ‘free trade’ treaties, and the imposition of measures of ‘austerity’ which always tighten the belt of workers and the poor
— Pope Francis

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