Best 224 quotes in «banking quotes» category

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    Irrational lenders come and go - mostly they go!

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    I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country.

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    Is this complicated, risky [banking] system the best we can have?

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    Italy is the fourth-largest economy in Europe and the eighth-largest economy in the world, and its banking system is collapsing. And Germany is desperate. It must maintain its standard of living. It can only do that with exports and Deutsche Bank is very exposed to Italian debt. But so is the rest of Europe.

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    It can be argued that the U.S. brokerage and investment banking industry has transformed the modern American stock market into nothing more than a mechanism for transferring wealth from shareholders to management.

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    It is easier to rob by setting up a bank than by holding up a bank clerk.

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    I think what they've been doing is largely almost in firefighting mode without a good conceptual framework - either at the micro or the macro level. Micro, you would ask: "What kind of financial or banking system do we want?" Macro, you would say: "What are the underlying problems in the structure of our economy?

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    It is an axiom nowadays that no bank fails for lack of capital; unprofitable lending is always the underlying cause.

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    It is a sobering fact that the prominence of central banks in this century has coincided with a general tendency towards more inflation, not less. [I]f the overriding objective is price stability, we did better with the nineteenth-century gold standard and passive central banks, with currency boards, or even with 'free banking.' The truly unique power of a central bank, after all, is the power to create money, and ultimately the power to create is the power to destroy.

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    It is extremely difficult for our contemporaries to conceive of the conditions of free banking because they take government interference with banking for granted and as necessary.

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    It is no coincidence that the century of total war coincided with the century of central banking.

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    It's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation.

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    It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country.

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    I trust online banking. You know why? Because if somebody hacks into my account and defrauds my credit card company, or my online bank account, guess who takes the loss? The bank, not me.

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    It is not competition, but monopoly, that deprives labor of its product. Destroy the banking monopoly, establish freedom in finance, and down will go interest on money through the beneficent influence of competition. Capital will be set free, business will flourish, new enterprises will start, labor will be in demand, and gradually the wages of labor will rise to a level with its product.

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    It is not suprising that the banking concept of education regards men as adaptable, manageable beings.

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    It's just very hard to teach a class of students about what has happened in the Global Financial Crisis, how we ended up there and how we got to where we are today, without having some basic, non-trivial understanding of the financial sector, credit, and the banking system.

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    Just for fun I flew in huge banking arcs, taking deep breaths, enjoying the feel of my newly weightless hair. The stylist had called it “wind tossed.” If only she knew.

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    It's natural that you'd have more brains going into money management. There are so many huge incomes in money management and investment banking - it's like ants to sugar. There are huge incentives for a man to take up money management as opposed to, say, physics, and it's a lot easier.

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    Money never declines. Money just moves.

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    Lethargy bordering on sloth remains the cornerstone of our investment style. The exception was Wells Fargo, a superbly-managed, high-return banking operation in which we increased our ownership to just under 10%, the most we can own without the approval of the Federal Reserve Board.

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    Microcredit has shown how you can reach out to people that conventional banking cannot. It has demonstrated that it's a doable proposition.

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    Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal - that there is no human relation between master and slave.

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    My father was in real estate, banking, and land management. As family life, it was very conventional, happy, and comfortable. We weren't wealthy, but we were well-off.

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    Much of the shadow banking sector, a major contributor to the economic crisis, was also only possible because of taxhaven secrecy.

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    My innovation involved taking an idea from the telecommunications and banking industries, and applying that idea to transportation business.

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    Our banking system grew byaccident; and wherever something happens byaccident, it becomes a religion.

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    One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.

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    Only put money in the banking system that you can afford to lose!

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    ... preliminary accounting, banking and surveying (known as arithmetic, algebra and geometry).

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    Our international banking system allows banks to accept funds gained from tax evasion and other crimes and thereby facilitates and encourages embezzlement by public officials, especially in developing countries, as well as tax evasion and tax avoidance by multinational corporations.

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    Part of the concept of the euro zone was to establish a common market. The banks were going to bank across all their countries like we bank across states. But that concept got killed for a whole bunch of reasons that I won't get into. That was a good concept, by the way. It may yet return, because there are huge economies of scale in banking. That's another thing people don't quite get.

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    The advantage of online banking is that you can pay bills superfast, and your account is automatically credited or debited for each deposit and payment, making it easier to stay on track.

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    Progress is cumulative in science and engineering, but cyclical in finance.

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    Sound money and free banking are not impossible; they are merely illegal.

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    Stripe is building payment infrastructure for the Web, so we make it easy to accept credit cards online. Before Stripe, the way youd do this is using the legacy banking structure. It was slow, it was complex, it was expensive. It had this very chilling effect on e-commerce.

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    The banking business is no favorite of ours. When assets are twenty times equity - a common ratio in this industry - mistakes that involve only a small portion of assets can destroy a major portion of equity. And mistakes have been the rule rather than the exception at many major banks.

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    The few who understand the system, will either be so interested from it's profits or so dependent on it's favors, that there will be no opposition from that class.

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    The bank hath benefit of interest on all moneys which it creates out of nothing.

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    The Cayman Islands, a British Crown colony in the Caribbean, for instance, is the fifth largest banking center in the world.

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    The eyes of our citizens are not sufficiently open to the true cause of our distress. They ascribe them to everything but their true cause, the banking system

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    The Fed is pushing a variety of workarounds that would inject trillions in new money into the economy while bypassing the banking system altogether. Time will tell whether or not this will succeed. Meanwhile, a serious danger lurks around the corner. Once the recession is over, the lending will start again. With fractional-reserve banking and limitless supplies of cash on hand, we will likely see the overall price trends reversed, from deflation to inflation to possible hyperinflation.

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    The banking collapse was caused, more than anything, by bad government policy and the total failure of bad regulation, rather than by greed.

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    The business of banking ought to be simple. If it is hard it is wrong. The only securities which a banker, using money that he may be asked at short notice to repay, ought to touch, are those which are easily saleable and easily intelligible.

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    The collapse of the world's banking system and the impending disaster of accelerating climate change are not separate phenomena. They are simply the most visible symptoms of a particular model of capitalism that will bring civilisation to its knees. But those symptoms will not get sorted unless and until we commit to a radical transformation of the way we create and distribute wealth in the world today

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    The Federal Reserve bank buys government bonds without one penny.

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    [T]he first bad bank loan was no doubt made around the time of the opening of the first bank.

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    The increase in the assets of the Federal Reserve Banks from 143 Million dollars in 1913 to 45 Billion dollars in 1949 went directly to the private stockholders of the [Federal Reserve] banks.

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    The goal [is] not only to earn high returns at the top of the cycle but also to avoid giving them back at the bottom.

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    The fundamental problem with banks is what it's always been: they're in the business of banking, and banking, whether plain vanilla or incredibly sophisticated, is inherently risky.