Warning: Undefined array key "visitor_referer_type" in /var/www/vhosts/wordinf.com/core/app/libraries/Core.php on line 98
Ralph George Hawtrey - By its means the banker creates...
By its means the banker creates the means of payment out of nothing, whereas when he receives a bag of money from his customer, one means of payment, a bank credit, is merely substituted for another, an equal amount of cash. (Ralph George Hawtrey)

By its means the banker creates the means of payment out of nothing, whereas when he receives a bag of money from his customer, one means of payment, a bank credit, is merely substituted for another, an equal amount of cash.

Ralph George Hawtrey

Related topics

amount bag bank banker cash credit customer equal money nothing payment whereas means

Related quotes

Mankind is divided into rich and poor, into property owners and exploited; and to abstract oneself from this fundamental division; and from the antagonism between poor and rich means abstracting oneself from fundamental facts. View quote
Joseph Stalin
The president has very little effect on the economy. If you want to put blame or credit, the main person who influences the business cycle is the head of the Federal Reserve Bank. View quote
Robert Fogel
Freedom is not an ideal, it is not even a protection, if it means nothing more than freedom to stagnate, to live without dreams, to have no greater aim than a second car and another television set. View quote
Adlai Stevenson II
Poetry is not a turning loose of emotion, but an escape from emotion; it is not the expression of personality but an escape from personality. But, of course, only those who have personality and emotion know what it means to want to escape from these. View quote
T. S. Eliot
Punk is musical freedom. It's saying, doing and playing what you want. In Webster's terms, 'nirvana' means freedom from pain, suffering and the external world, and that's pretty close to my definition of Punk Rock. View quote
Kurt Cobain