Posts Tagged ‘interest’

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Mark Sundeen: Wall Street Felons

Posted by admin on Wednesday, October 25, 2023

Meaning of Mark Sundeen Money Quote: saying We complain about the felons of Wall Street, but keep them in control by paying them. Mark Sundeen said:
 
lending them our money, paying their interest on mortgages and credit cards, and amassing our savings in their IRAs and money-market accounts Quote
 

“Grumble as we might about Wall Street felons, we keep the banks in business by lending them our money, paying their interest on mortgages and credit cards, and amassing our savings in their IRAs and money-market accounts” — Mark Sundeen

 

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Mark Sundeen seems to be pointing out that despite complaints about unethical behavior by some in the financial industry, average citizens continue to support and fund the major banks through various financial activities.

By taking out loans like mortgages and credit cards that charge interest, keeping savings in retirement accounts at these institutions, and depositing money in bank accounts, people are essentially “lending” their money to the banks and keeping them in business.

So even while some banks engage in illegal behavior, the general public still relies heavily on these financial companies for various services and products. Sundeen’s quote suggests this ongoing financial patronage is what really allows the banks to maintain their prominent role in the economy, more so than any displeasure voiced about their actions on Wall Street.

Anthony Robbins: Pay Loan Interest

Posted by admin on Thursday, September 14, 2023

Meaning of Anthony Robbins Money Quote: saying The secret to bankers making money is 100% interest charged on their loans. Tony Robbins said:

 
The secret to bankers making money is 100% interest charged on the loan Quote
 

“You want to know the banker’s secret? Your interest payments will tack on an additional 100% or more to your loan value” — Anthony Robbins

 

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In this quote, Anthony Robbins seems to be highlighting the significant financial costs that can accumulate from interest on loans, particularly for consumers. A few key points:

  • By referring to the “banker’s secret”, Robbins suggests high interest is quietly adding large hidden fees to loans that consumers may not fully realize.
  • He states emphatically that interest payments alone will increase the total repaid on a loan by “100% or more” of the original principal amount borrowed.
  • This implies half or more of what people ultimately pay back to lenders like banks is actually covering the cost of interest rather than the initial sum lent.

Overall, Robbins appears to be bringing attention to how expensive borrowing can be due to compounding interest costs over time. The quote aims to warn loan recipients about the substantial financial burden that interest payments add, according to his perspective on banking practices and consumer lending.

Joseph Conrad: Avoid Debt

Posted by admin on Tuesday, July 18, 2023

Meaning of Joseph Conrad Money Quote: saying Don’t become indebted and paying interest – instead earn. Joseph Conrad said:
 
Avoid debt. The poor pay interest, while the rich earn interest Quote
 

“Avoid debt. The poor pay interest, while the rich earn interest” — Joseph Conrad

 

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In this quote, Joseph Conrad is advising people to avoid debt because it can perpetuate financial hardship. He points out that those who are poor and need to borrow money end up paying interest on their debts, which keeps them trapped in a cycle of owing more over time. Meanwhile, the rich are able to earn interest by lending their money to others or investing it.

Conrad’s message suggests that maintaining a debt-free lifestyle is important for financial freedom and security, while taking on debt is more likely to benefit those who are already wealthy by providing them interest income from others who borrow. His interpretation emphasizes how debt can worsen the circumstances of the poor while further increasing the means of the rich.

Paul Laurence Dunbar: But Interest!

Posted by admin on Sunday, July 9, 2023

Meaning of Paul Laurence Dunbar Money Quote: saying It didn’t cost much, the loan was minor, but Oh Lord! that interest!. Paul Laurence Dunbar said:
 
 
Slight was the thing I bought,  Small was the debt I thought,  Poor was the loan at best —  God! but the interest! Quote
 

“Slight was the thing I bought, Small was the debt I thought, Poor was the loan at best — God! but the interest!” — Paul Laurence Dunbar

 

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Paul Laurence Dunbar seems to be using a financial metaphor to convey a deeper meaning in this quote. Some possible interpretations:

  • He took out a small loan (“slight was the thing I bought”) but underestimated the true cost (“small was the debt I thought”). The interest accumulated over time and grew much larger than expected (“God! but the interest”). This could refer to how even small transgressions or mistakes have unforeseen consequences.
  • It refers to how initial or minor indulgences or vices grow into larger problems over time, as the “interest” compounds. What starts as a small act balloons in significance.
  • On a spiritual level, it suggests that small sins or deviations from righteousness accumulate and multiply until they become overwhelming. The true cost is greater than anticipated.

Overall, the quote uses the metaphor of debt and interest to represent how small choices have unintended downstream effects that end up being much larger than we realize or “borrow” at the outset. The meaning depends on whether taken literally or applied metaphorically.

Aristotle: It’s Money Reproduced

Posted by admin on Wednesday, February 2, 2022

Aristotle Money Quote saying that money is intended for exchanging, not earning interest, which is not natural. Aristotle said:
 
Money for exchange, interest causes it to be reproduced by itself. This way of earning money is in conflict Quote
 

“Money was established for exchange, but interest causes it to be reproduced by itself. Therefore this way of earning money is greatly in conflict with the natural law” — Aristotle

 

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In this quote, Aristotle is criticizing the practice of charging interest on loans of money. He argues that money was originally established or created solely as a means of facilitating the exchange of goods and services.

However, charging interest causes money to essentially reproduce or multiply itself simply through the passage of time, without any additional labor or production involved.

To Aristotle, this went against natural law or how things should naturally work based on their inherent purpose. He saw earning money through interest as going beyond the proper and intended function of money as a medium of exchange.

Aristotle appears to believe that profiting purely from interest payments, without contributing additional value or work, constituted a conflict with the natural and moral order as he understood it.

Birthday: January 6, 384 BC – Death: March 7, 322 BC

Jose Marti: Money Trust Thief

Posted by admin on Thursday, December 2, 2021

Jose Marti Money Quote saying a trust fund trustee who abuses the funds they control for others is committing theft. Jose Marti said:
 
He who receives money in trust to administer for the benefit of its owner, and uses it either for his own interest or against the wishes of its rightful owner, is a thief Quote
 

“He who receives money in trust to administer for the benefit of its owner, and uses it either for his own interest or against the wishes of its rightful owner, is a thief” — Jose Marti

 

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This quote from Cuban poet and revolutionary Jose Marti suggests that anyone entrusted with money belonging to another person has a duty to use it solely as intended by the rightful owner. Using the money for one’s own benefit or contrary to the owner’s wishes would constitute theft, even if done through legal but unethical means.

A deeper interpretation could be that Marti saw fiduciary responsibility as an important ethical principle – those given financial power or authority over others’ assets have a moral obligation to act with the highest integrity and solely for the benefit of the true owners.

The quote highlights how misuse or misappropriation of funds given in trust can be considered a form of theft, even if not strictly illegal.

Benjamin Franklin: Know & Invest

Posted by admin on Sunday, September 13, 2020

Funny Benjamin Franklin Money Quote saying investing time and energy into learning new things pays better than most financial investing. Benjamin Franklin said:
 
An investment in knowledge always pays the best interest Quote
 

“An investment in knowledge always pays the best interest” — Benjamin Franklin

 

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In this quote, Benjamin Franklin is extolling the value of investing in knowledge and learning. He says that gaining knowledge and education “always pays the best interest.” By this, Franklin means that the returns or benefits of obtaining more information and skills through study and intellectual pursuits will always be very high.

His view is that knowledge is highly valuable and worthwhile to acquire since it will serve one well both practically and financially in the long run. Franklin appears to have believed that cultivating one’s mind and abilities through learning provides great rewards and advantages according to this interpretation.

Birthday: January 17, 1706 – Death: April 17, 1790

Doris Lessing: Lending is Stealing

Posted by admin on Wednesday, August 5, 2020

Doris Lessing Money Quote saying lenders are as good as thieves, stealing with interest. Doris Lessing said:
 
Borrowing is not much better than begging; just as lending with interest is not much better than stealing Quote
 

“Borrowing is not much better than begging; just as lending with interest is not much better than stealing” — Doris Lessing

 

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In this quote, Doris Lessing is drawing a parallel between borrowing/lending money and related but less socially acceptable behaviors. She suggests that borrowing from others is not much different than begging, as it still relies on receiving something of value from another without immediate compensation.

Similarly, lending money with the expectation of interest payments in return is comparable to stealing, as it involves profiting from another’s temporary need or lack without providing an equal service in exchange.

Lessing appears to be criticizing the practice of charging interest on loans as a means of deriving unearned income from those in difficult financial situations.

A deeper interpretation is that she saw both borrowing and lending with interest as exploiting power imbalances for personal gain in ways that are only marginally better than the more openly undesirable acts of begging and stealing.

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