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Banking System Quotes

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Banking System Quotes

“Pick a leader who will keep jobs in your country by offering companies incentives to hire only within their borders, not one who allows corporations to outsource jobs for cheaper labor when there is a national employment crisis. Choose a leader who will invest in building bridges, not walls. Books, not weapons. Morality, not corruption. Intellectualism and wisdom, not ignorance. Stability, not fear and terror. Peace, not chaos. Love, not hate. Convergence, not segregation. Tolerance, not discrimination. Fairness, not hypocrisy. Substance, not superficiality. Character, not immaturity. Transparency, not secrecy. Justice, not lawlessness. Environmental improvement and preservation, not destruction. Truth, not lies.”

PeopleWarCountryWisdomGovernmentTruthSchoolJobsPoliticsStrongPeaceUnderstandingPresidentLeadershipJusticeFreedomMoneyRaceEducationLeaderEnvironmentTeacherHonestIntegrityRepublicanSpeechDiversityLosingRacismCapitalismDoctorsLiesVoteIntelligentElectionDemocratEnvironmentalLibraryEqualityCorruptionHumbleProtectionSpendingOilEmploymentAdministrationHealth CareCorporationsPresidentialVotingDivisionLeadersDividesJobHuman ConditionFreedom Of SpeechConservationLieDiplomacyBankingIncentivesTeachersFundingBankersPolitical ScienceUnderstandNationEnvironmentalismWordElectionsLeadSchoolsCorruptDoctorLeadership CharacteristicsDiplomaticBig BusinessLibrariesEnvironmentalistConfidentCommon ManFamiliesGuideGood LeaderLeadership TraitsPeacemakerBipartisanGovernment CorruptionBest LeaderSlyPharmaceuticalBanking SystemBailBanksCompaniesStreetVoterForeign RelationsHomesIdentifyFarmerAirlinesDivideMake America Great AgainBig PharmaEducatorsWe The PeopleBankerCensorPeacekeeperPicking SidesFor The PeopleLobbyistPharmaHeart DrivenBail OutIndentifiesOil TycoonPick A LeaderSelectingServes The PeopleUnitesHonest BrokerMan On The StreetMoney DrivenMortageMortagesStreet Level
Book:Rise Up and Salute the Sun: The Writings of Suzy Kassem
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“... Why do bank runs commence? The answer is psychology period some customers or counterparties come to believe a bank will not repay them so they pull their money out or close transactions as quickly as possible. They are not reassured by ... Press releases or positive comments by management. Word spreads, the withdrawals accelerate, and within days, sometimes hours, the bank closes its doors. From there it's an open issue whether the lost confidence spreads to other banks, in a process called contagion. No amount of capital or comment can stop a bank panic; it has a life of its own.”

PsychologyFinancePanicBanking SystemBanksFinancial RiskFinance Capital
Book:MoneyGPT: AI and the Threat to the Global Economy
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“... why do bank runs commence? The answer is psychology. Some customers or counterparties come to believe a bank will not repay them so they pull their money out or close transactions as quickly as possible. They are not reassured by ... press releases or positive comments by management. Word spreads, the withdrawals accelerate, and within days, sometimes hours, the bank closes its doors. From there it's an open issue whether the lost confidence spreads to other banks, in a process called contagion. No amount of capital or comment can stop a bank panic; it has a life of its own.”

PsychologyFinancePanicBanking SystemBanksFinancial RiskFinance Capital
Book:MoneyGPT: AI and the Threat to the Global Economy
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“If insolvency is not transparent or well understood, and if illiquidity is backstopped by the Federal Reserve, then why do bank runs commence? The answer is psychology. Some customers or counterparties come to believe a bank will not repay them so they pull their money out or close transactions as quickly as possible. They are not reassured by ... press releases or positive comments by management. Word spreads, the withdrawals accelerate, and within days, sometimes hours, the bank closes its doors. From there it's an open issue whether the lost confidence spreads to other banks, in a process called contagion. No amount of capital or comment can stop a bank panic; it has a life of its own. ... Enter AI. The next bank run may be triggered not by human panic but by AI imitating human panic. An AI bank analysis program with deeply layered neural networks and machine learning capability (perhaps complimented by a GPT capacity to speak with human analysts) Could read millions of pages of financial data on thousands of individual banks, far more than any team of human analysts could review. It's training set of materials provides familiarity with the dynamics of bank runs, basically an emerging property of a complex dynamic system, along with historical examples, worst case scenarios, and defensive moves. Events like the gold corner of 1869, the panic of 1907, the Great Depression of the 1930s, and the S&L crisis of the 1980s would all seem as fresh as today's news. This system would reach the same conclusion as a human analyst — move first, get your money out fast, don't be the last in line. The true danger is not that the machine thinks like a human — it's supposed to. The danger is that it can act faster and communicate with other machines.”

PsychologyFinanceAiPanicMachine LearningBanking SystemFinancial RiskInformation ScienceSystems Analysis
Book:MoneyGPT: AI and the Threat to the Global Economy
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“Sonnet of Cryptocurrency The reason people are nuts about cryptocurrency, Is that they hear the magic phrase regulation-free. But what they forget to take into account, Is that it also means the user alone bears liability. The purpose behind a centralized system, Is not exploitation but to provide trust and stability. Anything that is decentralized on the other hand, Is a breeding ground for fraud and volatility. Not every fancy innovation is gonna benefit society, Innovation without accountability is only delusion. Cryptocurrency can be a great boon to banking, If it merges with the centralized financial institution. Intoxication of tech is yet another fundamentalism. Algorithm without humanity is digital barbarism.”

EconomicsBlockchainBitcoinCryptocurrencyAlgorithmsBanking SystemEconomic CrisisAlgorithmFinancial SystemDogecoin
Book:Hometown Human: To Live for Soil and Society
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“Incorporating cryptocurrency in the traditional centralized financial system not only speeds up transactions exponentially, but also it makes the system more user-friendly, whereas in a decentralized system cryptocurrency will only breed insecurity and chaos, due to the utter absence of liability.”

EconomicsBlockchainBitcoinCryptocurrencyBanking SystemEconomic CrisisFinancial SystemEconomics PhilosophyBlockchain QuotesBanking Reform
Book:The Gospel of Technology
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“Banks were once an extremely valuable part of the economy and did a lot of good in advancing civilization. Banks played a pivotal role in financing big projects like roads, bridges, factories, stadiums, etc. Banks were to the economy what the heart is to the human body. But that has ended. Traditional banks have become extra toxic entities in the economy. It’s partially the fault of excessive government regulations that have made everything dysfunctional and it’s partially the fault of greedy bankers putting profits above customers and shareholders above society... But nonetheless, banks today offer very little benefit to their clients. They pay barely anything in interest. They offer barely anything in growth. They move money too slowly. They’re too restrictive. They’re selling the same boring products and services they did a hundred years ago. And they have too much power over peoples accounts. Soon, the many new companies and applications that emerge on the Ethereum infrastructure will eliminate the need for traditional banks and eliminate their value proposition by providing people with superior value. Everything from growth to asset management to lending can be done even better on the Ethereum infrastructure by anyone.”

BankingBankersCryptoNftCryptocurrencyBanking SystemBanksEthereumBanker
Author:Hendrith Vanlon Smith Jr
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“A regulator's greatest fear is the sequential collapse of hedge funds, banks, and brokerages. That process is hard to spot and even harder to stop. ... There are two sides to every trade. In a crash there can be just as many winners as losers. The problem arises when the losers go out of business. At that point the winners can't collect so they become losers too. It's as if you were a big winner at roulette and went to the cashier to collect your winnings only to find the cashier window closed and the casino had just filed for bankruptcy. All you have left is a pocketful of worthless chips. At that point, even the market winners can fall into financial distress. Because of leverage, total losses can exceed the size of the market itself. It's like a minefield. Banks running from panic start stepping on mines.”

EconomicsAiFinancial CrisisMachine LearningBanking SystemFinancial LiteracyFinancial EducationFinancial RiskEconomic CollapseFinancial Loss
Book:MoneyGPT: AI and the Threat to the Global Economy
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“While there's nothing new about financial panics, the role of AI/GPT is new and makes matters exponentially worse. That's not a criticism of AI which works as intended. It's a criticism of humans who don't understand the tool, over-rely on it, and allow it far too much autonomy in the trading process.”

EconomicsAiSociologyInformation TechnologyFinancial CrisisMachine LearningBanking SystemFinancial LiteracyFinancial EducationFinancial Risk
Book:MoneyGPT: AI and the Threat to the Global Economy
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“In general, markets have well-known inefficiencies. One is that transactions do not take into account the effect on others who are not party to them. These so-called externalities can be huge. That is particularly so in the case of financial institutions. Their task is to take risks, and if well managed, to ensure that potential losses to themselves will be covered. To themselves. Under capitalist rules, it is not their business to consider the cost to others. Risk is underpriced, because systemic risk is not priced into decisions. That leads to repeated crisis, naturally. This inherent deficiency of markets is well known.”

CapitalismBanking SystemBanksFree Market CapitalismFinancial RiskFree MarketsFree Market Ideology
Book:Hopes and Prospects
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“This ... he largest financial bailout in history ... was not just a bailout of SVB [Silicon Valley Bank]. It was a bailout of over fifty thousand SVB depositors with over $170 billion in deposits. It was a bailout of SVB's customers, it's employees, their suppliers, and the entire high-tech startup ecosystem in Silicon Valley and around the world.”

CapitalismFinanceBankingFederal ReserveFinancial CrisisBanking SystemFinancial RiskBailout
Book:MoneyGPT: AI and the Threat to the Global Economy
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“This ... the largest financial bailout in history ... was not just a bailout of SVB [Silicon Valley Bank]. It was a bailout of over fifty thousand SVB depositors with over $170 billion in deposits. It was a bailout of SVB's customers, it's employees, their suppliers, and the entire high-tech startup ecosystem in Silicon Valley and around the world.”

CapitalismFinanceBankingFederal ReserveFinancial CrisisBanking SystemFinancial RiskBailout
Book:MoneyGPT: AI and the Threat to the Global Economy
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“Inasmuch as the Bank of England became the main note-issuing bank and that some of the smaller banks elected to use Bank of England notes rather than issue new notes themselves, the private banks became very dependent upon the Bank of England. They had accounts with the Bank, and kept their reserves with it, and when they ran into difficulties because of a lack of confidence as to their ability to repay depositors on demand (i.e., a run on a bank), they relied on whatever support they could get from the Bank of England.”

Banking SystemFinancial SystemCentral BankingBank Of England
Book:Mastering Banking
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“After the predicted disaster occurred, an “emerging consensus” developed among economists “on the need for macroprudential supervision” of financial markets, that is, “paying attention to the stability of the financial system as a whole and not just its individual parts.” Two prominent international economists added that “there is growing recognition that our financial system is running a doomsday cycle. Whenever it fails, we rely on lax money and fiscal policies to bail it out. This response teaches the financial sector: take large gambles to get paid handsomely, and don’t worry about the costs—they will be paid by taxpayers” through bailouts and lost jobs, and the financial system “is thus resurrected to gamble again—and to fail again.” The system is a “doom loop,” in the words of the official of the Bank of England responsible for financial stability.”

CapitalismEconomicsBankingFinancial CrisisBanking SystemEconomics PhilosophyFree Market CapitalismFree MarketsFree Market Ideology
Book:Hopes and Prospects
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“The power of the big fish in general to regroup is hardly restricted to banking. When Standard Oil was broken up in 1911, the immediate effect was to replace a national monopoly with a number of regional monopolies controlled by many of the same Wall Street interests. Ultimately, the regional monopolies regrouped: In 1999 Exxon (formerly Standard Oil Company of New Jersey) and Mobil (formerly Standard Oil Company of New York) reconvened in one of the largest mergers in US history. In 1961 Kyso (formerly Standard Oil of Kentucky) was purchased by Chevron (formerly Standard Oil of California); and in the 1960s and 1970s Sohio (formerly Standard Oil of Ohio) was bought by British Petroleum (BP), which then, in 1998, merged with Amoco (formerly Standard Oil of Indiana). The tale of AT&T is similar. As the result of an antitrust settlement with the government, on January 1, 1984, AT&T spun off its local operations so as to create seven so-called Baby Bells. But the Baby Bells quickly began to merge and regroup. By 2006 four of the Baby Bells were reunited with their parent company AT&T, and two others (Bell Atlantic and NYNEX) merged to form Verizon. So the hope that you can make a banking breakup stick (even if it were to be achieved) flies in the face of some pretty daunting experience. Also, note carefully a major political fact: The time when traditional reformers had enough power to make tough banking regulation really work was the time when progressive politics still had the powerful institutional backing of strong labor unions. But as we have seen, that time is long ago and far away.”

BreakupBanking SystemGovernment Regulation2012Mergers And AcquisitionsBanking ReformToo Big To FailVerizon
Book:What Then Must We Do?: Straight Talk about the Next American Revolution
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“The more I ponder, I wonder if this isn't a searing, modern example of the peasants' historic inclination to doff their caps and tug their forelocks. To take their punishment and to remain silent. The banks tell us to believe the hype, the spin, to praise their brilliance and sophistication. They're smart because they say they are - and we accept they are because they say they are.”

CrimeBankingBanking SystemEliteBanking EliteBanking Secrecy
Book:Too Big to Jail: Inside HSBC, the Mexican Drug Cartels and the Greatest Banking Scandal of the Century
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“Pick a leader who will make their citizens proud. One who will stir the hearts of the people, so that the sons and daughters of a given nation strive to emulate their leader's greatness. Only then will a nation be truly great, when a leader inspires and produces citizens worthy of becoming future leaders, honorable decision makers and peacemakers. And in these times, a great leader must be extremely brave. Their leadership must be steered only by their conscience, not a bribe.”

PeopleLoveHumansWarCountryCharacterWisdomHandsGovernmentTruthSchoolJobsLawHateHumanityPoliticsStrongFearPeaceUnderstandingPresidentLeadershipJusticeFreedomMoneyRaceEducationLeaderDarknessEnvironmentTeacherBloodTeamSocietyMankindHonestSecurityGreatnessIgnoranceInspireBooksMoralityIntegrityRepublicanSpeechDiversityWeaponsLosingRacismConscienceCapitalismCriticismDestructionHatredDoctorsLiesVoteBraveryIntelligentElectionBraveUnityDemocratEnvironmentalChaosLibraryGreedTerrorEqualityCorruptionHumbleProtectionSpendingOilImprovementToleranceDiscriminationEmploymentPeacefulAdministrationHealth CareBridgesCorporationsHuman LifePresidentialHypocrisyVotingDivisionLeadersDividesJobStabilityCensorshipHuman ConditionFairnessTolerateFreedom Of SpeechHonorableConservationPreservationLieDiplomacyBankingIncentivesSegregationSecrecyTeachersFundingBankersPolitical ScienceTransparencyDissentGreat LeaderUnderstandNationEnvironmentalismWordElectionsHeartsMonetaryLeadSchoolsCorruptTruthfulnessDoctorScrutinyLeadership CharacteristicsImmoralityDiplomaticBig BusinessLibrariesEnvironmentalistConfidentCommon ManIntellectualismBribeFamiliesGuidePublicGood LeaderLeadership TraitsPeacemakerImmaturityBipartisanGovernment CorruptionGreat LeadershipBest LeaderSlyWallsPharmaceuticalReligious ToleranceUnitingBanking SystemBailFairLawlessnessCitizenConvergenceBanksFuture LeadersCompaniesStreetVoterCriticForeign RelationsHomesIdentifyFarmerAirlinesUniteDivideMake America Great AgainPeacemakersBig PharmaEducatorsWe The PeopleBankerCensorBuild BridgesSilencing DissentDiscriminatePeacekeeperPicking SidesFor The PeopleLobbyistPharmaCriticsmGreat NationHeart DrivenBail OutFurtureIndentifiesMonetary ProfitOil TycoonPick A LeaderSelectingServes The PeopleUnitesHonest BrokerMan On The StreetMoney DrivenMortageMortagesMultinationalStreet LevelConfident LeaderDecisionmakersDecison MakersEthnic ToleranceRace Tolerance
Book:Rise Up and Salute the Sun: The Writings of Suzy Kassem
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“Human beings today are surrounded by huge institutions we can never penetrate: the City, the banking system, political and advertising conglomerates, vast entertainment enterprises. They've made themselves user friendly, but they define the tastes to which we conform. They're rather subtle, subservient tyrants, but no less sinister for that.”

HumansMadeTodayPoliticalHuman BeingsCitiesStreetsHugeWallTasteInstitutionsEntertainmentLondonAdvertisingEnterpriseSubtleFriendlyTyrantsUsersConformBankingPenetrateSinisterSubservientBanking SystemUser Friendly
Author:J. G. Ballard
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“The smaller man approaching our modern banking system, which controls all issue of credit and therefore pretty well all our industrial and commercial activities, is not what the controllers of that credit call "interesting." He borrows with difficulty and upon high terms, and must pledge security out of all proportion to that which his richer rival has to put down.”

MenWellsPoliticsTermInterestingEconomyIssuesModernSecurityActivityDifficultyCreditProportionLiberalismBankingRivalsPledgeBanking SystemControllers
Book:The Crisis Of Civilization
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“Essentially, not only do we believe in this myth of 'de-risking', but it has become the one overriding goal; de-risking above growth, de-risking above innovation, de-risking above everything else. And we've reached the point where the Fed is using $70 Billion a month to 'de-risk' a largely insolvent banking system. And this can only end badly. The idea that you can do capitalism without risk is ridiculous on its face.”

BelieveIdeasEndsFacesGoalGrowthCan DoRiskMonthsCapitalismInnovationMythBillionsRidiculousFedsBankingBanking System
Author:Andreas Antonopoulos
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“I can't tell Black people to fight a war that is Israel's war. What kind of leader will you be, or should I be, to allow these babies Black, white and brown, to fight Israel's war, because Zionists dominate the government of the United States of America and her banking system.”

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Author:Louis Farrakhan
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“By means of the banking system the distribution of capital as a special business, a social function, is taken out of the hands of the private capitalists and usurers. But at the same time, banking and credit become the most effective means of driving captialist production beyond its own limits and one of the most effective vehicles of crises and swindle.”

MeanHandsSocialTakenSpecialLimitsFunctionCrisisProductionsCreditDrivingCapitalistVehicleBankingDistributionBanking System
Book:Karl Marx, Frederick Engels: Karl Marx: Capital, Vol. 3
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