Banking

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Concept.png Banking Rdf-entity.pngRdf-icon.png
Monopoly Bank cannot go bankrupt.jpg
Interest of• Ellen Brown
• Council of Foreign Bondholders
• Amelia Fawcett
• Benjamin Franklin
• Hang The Bankers
• Ivo Mosley
A more subtle version of the 'tribute' extracted from peasants by the aristocracy.

Central Banking

In the modern form, central banks are government-licensed monopolies to profit from seigniorage. This gives them a more or less unlimited economic self-interest in perpetuating the system, hence very deep pockets to try to naturalize their existence.

Private banking

The banking sector is an oligopoly with huge barriers to entry to facilitate rent seeking by preventing real competition.

See also

 

Related Quotations

PageQuoteAuthorDate
2011 Attacks on Libya“Gaddafi's government holds 143 tons of gold, and a similar amount in silver. This gold was intended to establish a pan-African currency based on the Libyan golden Dinar. This plan was designed to provide Francophone Africa with an alternative to the CFA."”Ellen Brown14 March 2016
Alfred Denning“Parliament has conferred many privileges on “banks” and “bankers”, but it has never defined what is a “bank” or who is a “banker” It has said many times that a banker is someone who carries on the “business of banking”, but it has never told us what is the business of banking.”Alfred Denning1966
James Garfield“Whoever controls the supply of currency would control the business activities of all the people.”James Garfield
Mervyn King“Of all the many ways of organizing banking, the worst is the one we have today. Change is, I believe, inevitable. The question is only whether we can think our way through to a better outcome before the next generation is damaged by a future and bigger crisis.”Mervyn King
Social change“Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of Parliament and of democracy is idle and futile.”William Lyon Mackenzie King1935

 

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References