Posts Tagged ‘interest’

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Bill Browder: Putin Interest in Magnitsky Act

Posted by admin on Tuesday, August 15, 2017

Bill Browder Money Quote saying in testimony before Congress in July of 2017, explaining why Putin wants the Magnitsky Act repealed – because it threatens his own money held in U.S. Banks. Bill Browder said:

Putin … is one of the richest men in the world. I estimate that he has accumulated $200 billion of ill-gotten gains … over his 17 years in power. He keeps his money in the West and all of his money in the West is potentially exposed to asset freezes and confiscation. Therefore, he has a significant and very personal interest in finding a way to get rid of the Magnitsky sanctions
— Bill Browder

Adam Smith: Profit Like Compound Interest

Posted by admin on Thursday, April 20, 2017

Adam Smith Money Quote saying attempts to understand the effect of product costs with comparisons of interest types on both wages and profits. Adam Smith said:

In regards to the price of commodities, the rise of wages operates as simple interest does, the rise of profit operates like compound interest
— Adam Smith

Albert Einstein: Compound Interest Wonder

Posted by admin on Saturday, March 25, 2017

Albert Einstein Money Quote saying Compound interest is a fascinating thing that pays those smart enough to make use of it. Albert Einstein said:

Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it
— Albert Einstein

Winston Churchill: Borrow an April Hour

Posted by admin on Sunday, March 12, 2017

Winston Churchill Money Quote saying That daylight saving time is paid back with interest to add value in less than half a year. Winston Churchill said:

We borrow an hour one night in April; we pay it back with golden interest five months later
— Winston Churchill

Michael Lind: Banks as Public Utilities

Posted by admin on Tuesday, January 24, 2017

Michael Lind Money Quote saying banks should be seen, not as high-profit institutions, but instead like a public utility and laws should protect consumers against high interest rates. Michael Lind said:

Banks should be low-profit, publicly-regulated utilities and laws against usurious interest rates, struck down in the U.S. in the late twentieth century, should be restored
— Michael Lind

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

Seneca: You Can Be Rich Here & Now

Posted by admin on Thursday, March 10, 2016

Seneca Money Quote saying learn first to become wise, not to gather money and things before gaining wisdom that pays immediate dividends in wealth. Seneca said:

Shall you wait for some interest to fall due, or for some income on your merchandise, or for a place in the will of some wealthy old man, when you can be rich here and now
— Seneca

Elizabeth Warren: Block Bankruptcy Exit

Posted by admin on Sunday, January 17, 2016

Elizabeth Warren Money Quotation saying banks extended loans to those in financial straights to charge higher rates and fees than they could afford, while avoiding bankruptcy. Elizabeth Warren said:

The bankers … strategy emerged: Target families who were already in a little trouble, lend them more money, get them entangled in high fees and astronomical interest rates, and then block the doors to the bankruptcy exit if they really got in over their heads
— Elizabeth Warren

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