Posts Tagged ‘john rogers’
John Rogers: Banks Create Money
on Saturday, December 24, 2022Meaning of John Rogers Money Quote: saying A Bank is a profit-making business that operates in the interest of shareholders. John Rogers said:
“Banks do not create money for the public good. They are businesses owned by private shareholders. Their purpose is to make a profit” — John Rogers
Share the John Rogers Money quote image above on your site:
Short Link to this Quote:
John Rogers is criticizing the view that banks act for the benefit of the general public when creating money. He argues that banks are private, profit-driven businesses owned by shareholders, not public institutions. Therefore, according to Rogers, banks do not generate money through lending and other financial activities with the goal of helping society or furthering the common good.
Rather, their main objective as private companies is to earn profits for their owners. Rogers’ quote suggests we should not see banks as entities that create money supply primarily for public welfare reasons, but rather to advance their own commercial interests of maximizing returns for investors and shareholders.
John Rogers: Reclaim from Speculators
on Thursday, March 22, 2018John Rogers Money Quote saying bankers, traders, hedge funds, investors and lenders make money a gambling medium, rather than a medium for exchange. John Rogers said:
“We must reclaim money from the speculators and restore it to its role as a medium for trade that serves us all” — John Rogers
Share the John Rogers Money quote image above on your site:
Short Link to this Quote:
John Rogers is arguing that money and the financial system should benefit everyone in society, not just speculators and investors seeking profits. He believes “we” (likely referring to governments, regulators or citizens) need to take back control of money from speculators and refocus it on its core purpose of facilitating trade and commerce between all people.
Rogers suggests money currently serves speculators who gamble and profit from financial markets, rather than serving the interests of the general public by enabling the exchange of goods and services.
His quote advocates reforming the monetary system so that money primarily functions as a neutral medium for all people to engage in trade, not as a tool for speculation that disproportionately rewards some individuals over others.