Quotessence
Home / Topics / Financial System Quotes

Financial System Quotes

Browse 84 quotes about Financial System.

Related topics

CrisisPeopleEconomyWorldIfsNeeds

Financial System Quotes

“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
Create image

“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
Create image

“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
Create image

“The people telling you to follow the rules are the same people who profit when you don’t question them.”

MotivationSelf EducationPersonal FreedomIndependent ThinkingFinancial SystemQuestion EverythingEconomic RealityAuthority And ControlTruth About SuccessMoney Control
Book:Money's Dirty Little Secrets: How to Break the Rules, Get Filthy Rich, and Laugh All the Way to the Bank
Create image

“If exclusive privileges were not granted, and if the financial system would not tend to concentrate wealth, there would be few great fortunes and no quick wealth. When the means of growing rich is divided between a greater number of citizens, wealth will also be more evenly distributed; extreme poverty and extreme wealth would be also rare.”

IfsMeanWould BeWealthNumbersPovertyRichGreaterGrowingCitizensFortuneFinancialPrivilegeExtremesGrantedDividedExclusiveFinancial SystemExtreme Poverty
Author:Denis Diderot
Create image

“Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to rest at an equilibrium point and that point is supposed to be the same irrespective of the interim fluctuations. Instead, as I told Congress, financial markets behaved more like a wrecking ball, swinging from country to country and knocking over the weaker ones. It is difficult to escape the conclusion that the international financial system itself constituted the main ingredient in the meltdown process.”

MayCountryProcessDifficultBallsResponseFinancialInternationalCongressConclusionSupposed To BeShockIngredientsSwingsKnockingEquilibriumFinancial MarketsPendulumsFluctuationFinancial SystemMeltdownsInterim
Author:George Soros
Create image

“We must see that it is foolish, sinful and suicidal to destroy the health of nature for the sake of an economy that is really not an economy at all but merely a financial system, one that is unnatural, undemocratic, sacrilegious, and ephemeral.”

EconomySakeFinancialFoolishSuicidalUnnaturalEphemeralFinancial SystemSacrilegious
Book:The Art of the Commonplace: The Agrarian Essays of Wendell Berry
Create image

“He smote the rock of the national resources, and abundant streams of revenue gushed forth. He touched the dead corpse of the Public Credit, and it sprung upon its feet. The fabled birth of Minerva, from the brain of Jove, was hardly more sudden or more perfect than the financial system of the United States, as it burst forth from the conceptions of Alexander Hamilton.”

StatesPerfectUnitedBrainUnited StatesFeetRocksBirthResourcesFinancialCreditStreamsTouchedConceptionRevenueCorpsesSprungHamiltonFinancial SystemMinerva
Author:Daniel Webster
Create image

“I would very honestly just tell you that what I tried to do was simply respond to inquiries from people as they came in. Where I've thought I could say something useful, I've tried to add a voice that was, frankly, a dissident voice earlier on, but one that I think has become a more mainstream voice-and not because I've shifted. I think that the critique I had of what was going on in our financial system from six, eight years ago-after seeing some of what we've suffered through and even since the cataclysm itself-in terms of the structural changes.”

PeopleThinkingYearsVoiceTermSeeingSixYears AgoAddFinancialEightHonestlyMainstreamInquiryCritiqueDissidentsFinancial System
Author:Eliot Spitzer
Create image

“The recent trading environment has felt something like walking into a place and having a sense that something is wrong and dangerous but not knowing exactly what will happen or when. “QE Infinity” has so distorted the prices of stocks and bonds that nobody can possibly determine what the investing landscape would look like, or what the condition of the economy and financial system would be, in the absence of Fed bond-buying.”

LooksHappensWould BeFeltEconomyKnowingEnvironmentConditionsDangerousWalkingInvestingFinancialDetermineAbsenceLandscapeBuyingFedsInfinityNot KnowingTradingFinancial System
Author:Paul Singer
Create image

“I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential - not excessive - regulation of the financial system.”

PeopleWayShouldBelieveSaidSometimesMatterMightPoliticalI BelieveRolesEconomyDemocracyEconomicWorstEconomicsFinancialAvailableI Believe InAlternativesRegimesRegulationIncentivesMarket EconomyFinancial SystemParaphraseMarket Failure
Author:Nouriel Roubini
Create image

“I believe that banking institutions are more dangerous to our liberties than standing armies.”

BelieveGovernmentPoliticalI BelieveMoneyLibertyDangerousPoliticianStandingArmyInstitutionsI Believe InTyrannyAccountabilityFoundersFederal GovernmentBankingInflationBankersPrivate PropertyOur Founding FathersProperty RightsDemocracies HaveBig GovernmentUs Founding FathersFederal ReserveForefathersCentral BanksPublic InterestEconomic FreedomRevolutionary WarMoney And PowerFinancial SystemFounding Fathers DemocracyMonetary SystemGreat LibertarianMoney PowerUsuryBankers And BanksCentral BankingTyranny Founding FathersEconomic OrderCentral GovernmentBanks And MoneyRothschild
Author:Thomas Jefferson
Create image

“We need to ensure that the government agencies that are supposed to be regulating the financial system are actually doing their jobs. We must shrink the federal government and hold it accountable - and to do that, we need a leader who understands how bureaucracies work and how to cut them down to size.”

NeedsGovernmentJobsLeaderCuttingFinancialSizeSupposed To BeAgencyFederal GovernmentBureaucracyShrinksFinancial SystemGovernment Agencies
Author:Carly Fiorina
Create image

“The banks, because of mismanagement, because of huge risk taking, are now in very vulnerable positions. We can expect that we're gonna have to do more to shore up the financial system. We also are gonna have to make sure that we set up financial regulations so that not only does this never happen again, but you start having some sort of - trust in how the credit markets work again.”

DoeHappensRiskPositionHugeFinancialCreditVulnerableShoreRegulationRisk-takingFinancial SystemMismanagementFinancial Regulation
Author:Barack Obama
Create image

“She [Carolyn Maloney] understands the whole picture. She is comfortable with these issues 'cause she is chair of the committee, and she's dogged and will make sure the average woman and man is represented as well as making sure that our financial system stays afloat. In other words, she gets it and she has represented the financial district, but she also represents the average person and definitely the average woman.”

MenWellsPersonsWholeCausesIssuesComfortableMen And WomenFinancialAverageChairsCommitteesAverage PersonFinancial SystemWhole Picture
Author:Eleanor Smeal
Create image

“When I was a Senator from New York, I represented and worked with so many talented principled people who made their living in finance. But even thought I represented them and did all I could to make sure they continued to prosper, I called for closing the carried interest loophole and addressing skyrocketing CEO pay. I also was calling in '06, '07 for doing something about the mortgage crisis, because I saw every day from Wall Street literally to main streets across New York how a well-functioning financial system is essential.”

PeopleWellsMadeInterestPaySawsStreetsNew YorkWallCallingEssentialsCrisisFinancialFinanceSenatorsCeoClosingMortgageLoopholesPrincipledFinancial SystemMain StreetMortgage Crisis
Author:Hillary Clinton
Create image

“Following World War II, the U.S. was the architect of the UN system, and the world financial system, and the Human Rights Declaration, and of course the United Nations is based here in New York City. But, unfortunately, especially in the last decade, the U.S. really has been turning its back on international agreements and the set of agencies and procedures that they create as a means for governing the world.”

WorldHumansMeanHas BeensWarLastsCoursesNationsUnitedCitiesRightsNew YorkFinancialInternationalHuman RightsFollowingDecadesWar Of The WorldsAgencyAgreementNew York CityWorld War IiArchitectWorld War IDeclarationUnited NationsProceduresGoverningFinancial System
Author:John Burroughs
Create image

“Maybe [the Republicans] 'll find ways around it, but the financial system of the world depends very heavily on the credibility of the US Treasury Department. US Treasury securities are what's called "good as gold"; they're the basis of international finance, and if the government can't uphold them, if they become valueless, the effect on the international financial system could be quite severe. But in order to destroy a limited health-care law, the right-wing Republicans, the reactionary Republicans, are willing to do that.”

IfsWorldWayGovernmentCareLawOrderEffectsSecurityWillingDependsRepublicanGoldBasesWingsFinancialInternationalFinanceHealth CareDepartmentSevereCredibilityRight WingTreasuryReactionariesFinancial SystemValuelessUs Treasury
Author:Noam Chomsky
Create image

“A possibility is that we see more and more leverage, and credit-to-GDP ratios rise once more to even higher levels; eventually the banking systems of all advanced economies reach magnitudes of 500 percent, 1000 percent or more of GDP, so that every economy starts to have financial systems that resemble recent cases like Switzerland, Ireland, Iceland, or Cyprus. That might be a very fragile world to live in.”

WorldMightLevelsCasesEconomyPossibilityHigherPercentFinancialCreditFragileIrelandBankingMagnitudeHigher LevelRatiosSwitzerlandGdpBanking SystemFinancial SystemIcelandCyprus
Author:Alan M. Taylor
Create image

“The global financial crisis is a great opportunity to showcase and propagate both causal and moral institutional analysis. The crisis shows major flaws in the way the US financial system is regulated and, more importantly, in our political system, which is essentially a bazaar of legalized bribery where financial institutions can buy themselves the governmental regulations they want, along with the regulators who routinely receive lucrative jobs in the industry whose oversight had formerly been their responsibility, the so-called revolving-door practice.”

WayWantShowsJobsPoliticalOpportunityResponsibilityMoralPracticeDoorsIndustryMajorsCrisisInstitutionsFinancialAnalysisFlawsRegulationPolitical SystemsGreat OpportunityFinancial CrisisOversightBriberyRevolvingRegulatorsFinancial SystemShowcaseFinancial InstitutionsRevolving DoorsBazaars
Author:Thomas Pogge
Create image

“The President [Barack Obama], I think if you look at it from his shoes, you know, was facing a very difficult situation where he had to own Washington, tame New York, save a collapsing economy, with a collapsed financial system. He moved, I think, to a team that he felt was tried and true, in terms of dealing with financial crisis. That was his decision.”

IfsThinkingKnowsLooksFeltDifficultPresidentTermDecisionSituationEconomyTeamNew YorkCrisisMovedShoesFinancialBarackPresident Barack ObamaFinancial CrisisDifficult SituationsFinancial System
Author:Ron Suskind
Create image