“Central bankers always try to avoid their last big mistake. So every time there's the threat of a contraction in the economy, they'll over stimulate the economy, by printing too much money. The result will be a rising roller coaster of inflation, with each high and low being higher than the preceding one.” TryingBigsLastsResultsMistakeEconomyToo MuchHigherLowsEconomicsThreatInvestingRisingInflationBankersPrintingRoller CoasterCoastersBig MistakeHighs And LowsContractions Author:Milton Friedman
“One rule which woe betides the banker who fails to heed it/Never lend any money to anybody unless they don't need it.” NeedsWisdomPoliticsEconomyFailingLiberalismWoeBankersHeed Author:Ogden Nash
“The banker, therefore, is not so much primarily a middleman in the commodity "purchasing power" as a producer of this commodity. However, since all reserve funds and savings today usually flow to him, and the total demand for free purchasing power, whether existing or to be created, concentrates on him, he has either replaced private capitalists or become their agent; he has himself become the capitalist par excellence.” TodayPoliticsEconomyDemandFlowExcellenceProducersSavingAgentsLiberalismFundCapitalistReservesReplacedCommoditySavingsBankersPurchasingPurchasing PowerMiddlemen Book:The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle Source: The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle
“If Americans are frustrated with Congress, imagine their frustration with a group of international bank officials running our ecomomy-bankers who may not have as their motive either to see us out of debt to them or to strengthen our economy, society, international influence, or other elements of our way of life.” IfsWayMayRunningEconomyImagineGroupsInfluenceElementsInternationalCongressDebtMotiveOfficialsFrustrationFrustratedBankers Author:Oliver DeMille