Quotes & Sayings About Banking History

[The right] may never bring prayer back to schools, but it has rescued all manner of rightwing economic nostrums from history's dustbins. Having rolled back the landmark economic reforms of the sixties (the war on poverty) and those of the thirties (labor law, agricultural price supports, banking regulation), its leaders now turn their guns on the accomplishments of the earliest years of progressivism (Woodrow Wilson's estate tax; Theodore Roosevelt's anti-trust measures). With a little more effort, the backlash may well repeal the entire twentieth century. — Thomas Frank

[ ... ] from what I'd been able to ascertain online, the Swiss were a reassuringly practical people. They had a long, proud history of staying out of wars, preferring to devote themselves to more constructive endeavours like science, secure banking and building extremely accurate clocks. — Gavin Extence

Banks have never made money in the history of banking, losing the equivalent of all their past profits periodically - while bankers strike it rich. — Nassim Nicholas Taleb

I confidently predict the collapse of capitalism and the beginning of history. Something will go wrong in the machinery that converts money into money, the banking system will collapse totally, and we will be left having to barter to stay alive. Those who can dig in their garden will have a better chance than the rest. I'll be all right; I've got a few veg. — Margaret Drabble

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.
Never before in all our history have these forces been so united against one candidate as they stand today. They are unanimous in their hate for me - and I welcome their hatred. — Franklin D. Roosevelt

When we give our minds and our responsibility away, we give our lives away. If enough of us do it, we give the world away and that is precisely what we have been doing throughout known human history. This is why the few have always controlled the masses. The only difference today is that the few are now manipulating the entire planet because of the globalisation of business, banking and communications. The foundation of that control has always been the same : keep the people in ignorance, fear and at war with themselves,. Divide, rule and conquer while keeping the most important knowledge to yourself. — David Icke

Genealogy of American Finance is a treasure trove of information on American banking and its history, in an unusual
and unusually useful
format. — John Steele Gordon

Glass-Steagall was an act of the US Congress, but it worked more like an act of God. It cleaved mankind in two. With it, in 1934, American lawmakers had stripped investment banking out from commercial banking. Investment bankers now underwrote securities, such as stocks and bonds. Commercial bankers, like Citibank, took deposits and made loans. The act, in effect, created the investment banking profession, the single most important event in the history of the world, or so I was led to believe. — Michael Lewis

The Federal Reserve System had been established to prevent what actually happened. It was set up to avoid a situation in which you would have to close down banks, in which you would have a banking crisis. And yet, under the Federal Reserve system, you had the worst banking crisis in the history of the United States — Alan Ebenstein

The full history of the interlocking participation of the Imperial German Government and international finance in the destruction of the Russian Empire is not yet written ... It is not a mere coincidence that at the notorious meeting held at Stockholm in 1916, between the former Russian Minister of the Interior, Protopopoff, and the German Agents, the German Foreign Office was represented by Mr. Warburg, whose two brothers were members of the international banking firm, Kuhn, Loeb and Company, of which the late Mr. Jacob Schiff was a senior member. — Boris Brasol

I am not in the business of pointing fingers or making excuses. However, recent history has shown that I, like thousands of others in Ireland, incorrectly relied upon the persons who guided Anglo and who wrongfully sought to portray a 'blue chip' Irish banking sector. — Sean Quinn

Shortcomings in the governments' handling of monetary matters and the disastrous consequences of policies aimed at lowering the rate of interest and at encouraging business activities through credit expansion gave birth to the ideas which finally generated the slogan "stabilization." One can explain its emergence and its popular appeal, one can understand it as the fruit of the last hundred and fifty years' history of currency and banking, one can, as it were, plead extenuating circumstances for the error involved. But no such sympathetic appreciation can render its fallacies any more tenable. — Ludwig Von Mises

Every major war in American history, except the Mexican and Spanish-American, has either led to central banking or resulted from it. Central banking and government have a symbiotic relationship that is often mediated by war. Central banking gives government a way to tap the productive power of the private sector and borrow from the future without the need to rely overmuch on unpopular tax increases. Government gives central banking the extreme profits that derive from immense borrowing to finance wars and other government projects. — Mark David Ledbetter

Anyone mindful of one overwhelming tenet, if time travel is possible, will be possible, has ever been possible it is with us now must concur that this is the only time in history that such a banking cartel has risked its wealth on one sole adventure. Strengthening this incredible consideration was the discovery of an implant in Napoleon's skull. — James C. Horak

Note another element of Switzerland: it is perhaps the most successful country in history, yet it has traditionally had a very low level of university education compared to the rest of the rich nations. Its system, even in banking during my days, was based on apprenticeship models, nearly vocational rather than the theoretical ones. In other words, on techne (crafts and know how), not episteme (book knowledge, know what). — Nassim Nicholas Taleb