“The prairies were dust. Day after day, summer after summer, the scorching winds blew the dust and the sun was brassy in a yellow sky. Crop after crop failed. Again and again the barren land must be mortgaged for taxes and food and next year's seed. The agony of hope ended when there was not harvest and no more credit, no money to pay interest and taxes; the banker took the land. Then the bank failed.” YearsNextInterestPaySunSkyLandWindTaxesSummerCreditSeedsDustYellowAgonyAgain And AgainHarvestCropsBankersNext YearNo MoneyBarrenPrairieScorching Author:Rose Wilder Lane
“Certain management policies-stretching of credit resources, for example-may lead to great progress in good conditions; but, like the Grand Prix car in comparison with the Land Rover, they may not be robust enough to survive when the going gets tough.” MayEnoughCertainProgressLandConditionsCarPolicyExampleToughResourcesManagementCreditComparisonStretchingRobustGoing Gets ToughGrand PrixGreat Progress Author:Anthony Stafford Beer
“All live by seeming. The beggar begs with it, and the gay courtier Gains land and title, rank and rule, by seeming; The clergy scorn it not, and the bold soldier Will eke with it his service.--All admit it, All practise it; and he who is content With showing what he is, shall have small credit In church, or camp, or state.--So wags the world.” WorldStatesChurchLandGayGainsSoldierCreditTitlesHypocrisyLive ByCampsScornBeggarSeemingClergyPractiseWagsCourtiers Book:The Waverley novels. 25 vols. Source: The Waverley novels. 25 vols.
“From the Anarchist standpoint, these artificial hindrances which are the cause of three main forms of usury-interest, profit, and rent, are, in the order of their importance, monopoly in the control of the circulating medium-money and credit, private property in land not based on occupancy and use, patent rights and copyrights, and tariffs.” UseFormOrderThreeCausesInterestRightsLandImportancePropertyProfitCreditMediumsArtificialMonopolyAnarchistStandpointPrivate PropertyPatentsCopyrightHindranceTariffsUsury Book:Selected essays Source: Selected essays
“Instability mostly comes from the interface between the fact that the banks (or shadow banks) can create credit, money, and purchasing power in infinite quantities if we don't constrain them, and the fact that credit is primarily created to fund the purchase of urban real estate and land, which is somewhat fixed in supply.” IfsRealFactsLandShadowInfiniteCreditFixedFundQuantityUrbanEstatesInstabilityInterfacesPurchasingConstrainPurchasing Power Author:Adair Turner, Baron Turner of Ecchinswell