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banking

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48 Quotes

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The banking page groups 48 quotes under one canonical topic hub so readers and answer engines can cite a stable source instead of fragmented search results.

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It tugged at his soul not to talk to other writers about his work. He loved the bank, keeping it secure and compliant with the laws and regulations. People assumed these things happened by magic. They did not. Hauer never talked about it outside the office. He didn't want to make the other writers uncomfortable. If he developed a reputation as someone who brought his work with him to writers conferences they would all turn away, to sip and swizzle their drinks without him.

CC
Charlie Close

Before the Ripcord Broke: Stories

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In fact this is precisely the logic on which the Bank of England__he first successful modern central bank__as originally founded. In 1694, a consortium of English bankers made a loan of £1,200,000 to the king. In return they received a royal monopoly on the issuance of banknotes. What this meant in practice was they had the right to advance IOUs for a portion of the money the king now owed them to any inhabitant of the kingdom willing to borrow from them, or willing to deposit their own money in the bank__n effect, to circulate or "monetize" the newly created royal debt. This was a great deal for the bankers (they got to charge the king 8 percent annual interest for the original loan and simultaneously charge interest on the same money to the clients who borrowed it) , but it only worked as long as the original loan remained outstanding. To this day, this loan has never been paid back. It cannot be. If it ever were, the entire monetary system of Great Britain would cease to exist.

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David Graeber

Debt: The First 5,000 Years

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The crash did not cause the Depression: that was part of a far broader malaise. What it did was expose the weaknesses that underpinned the confidence and optimism of the 1920s - poor distribution of income, a weak banking structure and insufficient regulations, the economy's dependence on new consumer goods, the over-extension of industry and the Government's blind belief that promoting business interests would make America uniformly prosperous.

LM
Lucy Moore

Anything Goes: A Biography of the Roaring Twenties

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For nearly four years you have had an Administration which instead of twirling its thumbs has rolled up its sleeves. We will keep our sleeves rolled up. We had to struggle with the old enemies of peace--business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering. They had begun to consider the Government of the United States as a mere appendage to their own affairs. We know now that Government by organized money is just as dangerous as Government by organized mob.