Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Ilaine who wrote (4468)	6/7/2001 4:16:42 PM
From: pater tenebrarum	Read Replies (1) of 74559

geez...goes to show how easily the Austrians are misunderstood. a few quotes on money and credit: ANSELM ROTHSCHILD : "Those few who can understand the system ( money and credit ) will either be so interested in its profits, or so dependent on its favors, that there will be little opposition from that class, while on the other hand, the great body of people mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests." "Give me the power to issue a nation's money; then I do not care who makes its laws." ROBERT H. HEMPHILL ( Credit Manager of Federal Reserve Bank, Atlanta, Georgia ) "This is a staggering thought. We are completely dependent on the Commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money, we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is."

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