Irving Fisher Money Quote on Loan Transactions

Irving Fisher Money Quotation tells us that the money in circulation is controlled by banks that don’t actually have possession of that money.

Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess

— Irving Fisher

Related posts:

1. Irving Berlin Quote: No Checkbooks, No Banks
2. Francis Bacon Money Quote – The Covetous Man & Wealth
3. John Wesley Money Quote on Attachment to Money
4. Martin Mayer Money Quote: Twilight of Banks
5. William Feather: Money Quote – Budget Stops Us Buying

Tagged as: banks, irving fisher, lend, loan, transactions