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Lending expansion and bank reserves dropping?
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John Burns
Posted 10/21/2016 12:05 (#5592997 - in reply to #5592910)
Subject: Some other great quotes



Pittsburg, Kansas

Let me reiterate, as I have stated many times before. I have nothing against local or regional banks or the people that work in them. They are just doing their job and providing a service demanded by their customers. They are serving their community as the law provides. I have been and am a regular patron of said banks. I have and do use bank credit a lot. Banks operate their business no differently than I operate my business, which is within the letter of the law.

My problem is with the system. My problem is with the international and Wall Street banks that control the banking system. My problem is with the issuance of money by a private banking system for the benefit of the private banking system.

My problem is definitely NOT with the local banks and the people that work at them.

But I digress.......................... the quotes:

Famous banking quotes

John

Edit: two more of my favorites, near the end of the above link:

“The modern banking system manufactures money out of nothing. The process is, perhaps, the most astounding piece of sleight of hand that was ever invented. Banks can in fact inflate, mint and un-mint the modern ledger-entry currency.” Major L L B Angus.


“The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent.” John Kenneth Galbraith (1908- ), former professor of economics at Harvard, writing in ‘Money: Whence it came, where it went’ (1975).



Edited by John Burns 10/21/2016 12:26
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