Frederick Soddy: Convert Wealth to Debt

Posted by admin on Monday, September 19, 2016

Frederick Soddy Money Quote saying in 1926 that there has been pressure on capital toward lending wealth because of low costs and ongoing income from interest on debt. Frederick Soddy said:

The ruling passion of the age is to convert wealth into debt in order to derive a permanent future income from it – to convert wealth that perishes into debt that endures, debt that does not rot, costs nothing to maintain, and brings in perennial interest
— Frederick Soddy

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