Monetary Quotes

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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
Henry Ford
Every job from the heart is, ultimately, of equal value. The nurse injects the syringe; the writer slides the pen; the farmer plows the dirt; the comedian draws the laughter. Monetary income is the perfect deceiver of a man's true worth.
Criss Jami (Killosophy)
Some demeaned it as “bumming around at home,” while others glorified it as “work that sustains life,” but none tried to calculate its monetary value. Probably because the moment you put a price on something, someone has to pay.
Cho Nam-joo (Kim Jiyoung, Born 1982)
It’s just been my experience that some kinds of working relationships are better motivated by fear than by monetary gain.
Stephenie Meyer (Breaking Dawn (The Twilight Saga, #4))
Habitual procrastinators will readily testify to all the lost opportunities, missed deadlines, failed relationships and even monetary losses incurred just because of one nasty habit of putting things off until it is often too late.
Stephen Richards (The Secret of Getting Started: Strategies to Triumph over Procrastination)
In our time, the curse is monetary illiteracy, just as inability to read plain print was the curse of earlier centuries.
Ezra Pound
The essence of community, its heart and soul, is the non-monetary exchange of value; things we do and share because we care for others, and for the good of the place.
Dee Hock (One from Many: VISA and the Rise of Chaordic Organization)
You cannot trade the courage needed to live every moment for immunity from life's sorrows. We may say we know this but ours is the culture of the deal-making mind. From infancy, we have breathed in the belief that there is always a deal to be made, a bargain to be struck. Eventually, we believe, if we do the right thing, if we are good enough, clever enough, sincere enough, work hard enough, we will be rewarded. There are different verses to this song - if you are sorry for your sins and try hard not to sin again, you will go to heaven; if you do your daily practise, clean up your diet, heal your inner child, ferret out all your emotional issue's, focus your intent, come into alignment with the world around you, hone your affirmations, find and listen to the voice of your higher self, you will be rewarded with vibrant health, abundant prosperity, loving relations and inner peace - in other words, heaven! We know that what we do and how we think affects the quality of our lives. Many things are clearly up to us. And many others are not. I can see no evidence that the universe works on a simple meritocratic system of cause and effect. Bad things happen to good people - all the time. Monetary success does come to some who do not do what they love, as well as to some who are unwilling or unable to see the harm they do to the planet or others. Illness and misfortune come to some who follow their soul's desire. Many great artist's have been poor. Great teachers have lived in obscurity. My invitation, my challenge to you here, is to journey into a deeper intimacy with the world and your life without any promise of safety or guarantee of reward beyond the intrinsic value of full participation.
Oriah Mountain Dreamer (The Invitation)
A great leader must serve the best interests of the people first, not those of multinational corporations. Human life should never be sacrificed for monetary profit. There are no exceptions.
Suzy Kassem (Rise Up and Salute the Sun: The Writings of Suzy Kassem)
Everyone knows that the Internet is changing our lives, mostly because someone in the media has uttered that exact phrase every single day since 1993. However, it certainly appears that the main thing the Internet has accomplished is the normalization of amateur pornography. There is no justification for the amount of naked people on the World Wide Web, many of whom are clearly (clearly!) doing so for non-monetary reasons. Where were these people fifteen years ago? Were there really millions of women in 1986 turning to their husbands and saying, 'You know, I would love to have total strangers masturbate to images of me deep-throating a titanium dildo, but there's simply no medium for that kind of entertainment. I guess we'll just have to sit here and watch Falcon Crest again.
Chuck Klosterman (Sex, Drugs, and Cocoa Puffs: A Low Culture Manifesto)
effect the exchange of labor and services by means of an exchange of heartbeats. estimate every task in terms of heartbeats-the monetary unit of the future, in which all individuals are equally wealthy.
Velimir Khlebnikov
A NATION'S GREATNESS DEPENDS ON ITS LEADER To vastly improve your country and truly make it great again, start by choosing a better leader. Do not let the media or the establishment make you pick from the people they choose, but instead choose from those they do not pick. Pick a leader from among the people who is heart-driven, one who identifies with the common man on the street and understands what the country needs on every level. Do not pick a leader who is only money-driven and does not understand or identify with the common man, but only what corporations need on every level. Pick a peacemaker. One who unites, not divides. A cultured leader who supports the arts and true freedom of speech, not censorship. Pick a leader who will not only bail out banks and airlines, but also families from losing their homes -- or jobs due to their companies moving to other countries. Pick a leader who will fund schools, not limit spending on education and allow libraries to close. Pick a leader who chooses diplomacy over war. An honest broker in foreign relations. A leader with integrity, one who says what they mean, keeps their word and does not lie to their people. Pick a leader who is strong and confident, yet humble. Intelligent, but not sly. A leader who encourages diversity, not racism. One who understands the needs of the farmer, the teacher, the doctor, and the environmentalist -- not only the banker, the oil tycoon, the weapons developer, or the insurance and pharmaceutical lobbyist. Pick a leader who will keep jobs in your country by offering companies incentives to hire only within their borders, not one who allows corporations to outsource jobs for cheaper labor when there is a national employment crisis. Choose a leader who will invest in building bridges, not walls. Books, not weapons. Morality, not corruption. Intellectualism and wisdom, not ignorance. Stability, not fear and terror. Peace, not chaos. Love, not hate. Convergence, not segregation. Tolerance, not discrimination. Fairness, not hypocrisy. Substance, not superficiality. Character, not immaturity. Transparency, not secrecy. Justice, not lawlessness. Environmental improvement and preservation, not destruction. Truth, not lies. Most importantly, a great leader must serve the best interests of the people first, not those of multinational corporations. Human life should never be sacrificed for monetary profit. There are no exceptions. In addition, a leader should always be open to criticism, not silencing dissent. Any leader who does not tolerate criticism from the public is afraid of their dirty hands to be revealed under heavy light. And such a leader is dangerous, because they only feel secure in the darkness. Only a leader who is free from corruption welcomes scrutiny; for scrutiny allows a good leader to be an even greater leader. And lastly, pick a leader who will make their citizens proud. One who will stir the hearts of the people, so that the sons and daughters of a given nation strive to emulate their leader's greatness. Only then will a nation be truly great, when a leader inspires and produces citizens worthy of becoming future leaders, honorable decision makers and peacemakers. And in these times, a great leader must be extremely brave. Their leadership must be steered only by their conscience, not a bribe.
Suzy Kassem (Rise Up and Salute the Sun: The Writings of Suzy Kassem)
Christians and Muslims who could not agree on religious beliefs could nevertheless agree on a monetary belief, because whereas religion asks us to believe in something, money asks us to believe that other people believe in something.
Yuval Noah Harari (Sapiens: A Brief History of Humankind)
Goodness is weakness, pleasantness is poisonous, serenity is mediocrity and kindness is for losers. The best reason for committing loathsome and detestable acts – and let’s face it, I am considered something of an expert in this field – is purely for their own sake. Monetary gain is all very well, but it dilutes the taste of wickedness to a lower level that is obtainable by almost anyone with an overdeveloped sense of avarice. True and baseless evil is as rare as the purest good –
Jasper Fforde (The Eyre Affair (Thursday Next, #1))
You are kept apart that you may be separately fleeced of your earnings. You are made to hate each other because upon that hatred is rested the keystone of the arch of financial despotism which enslaves you both. You are deceived and blinded that you may not see how this race antagonism perpetuates a monetary system which beggars both.
Thomas E. Watson
A large number of scientists and engineers leave this country at their first opportunity to earn more money abroad. It is true that they definitely get greater monetary benefits, but could anything compensate for this love and respect from one's own countrymen?
A.P.J. Abdul Kalam (Wings of Fire)
This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President (Woodrow Wilson) signs this bill, the invisible government of the monetary power will be legalized....the worst legislative crime of the ages is perpetrated by this banking and currency bill.
Charles A. Lindbergh Sr. (Lindbergh On the Federal Reserve - The Economic Pinch)
What's the monetary value of human civilization? Trying to answer that question proves you are a moral and practical idiot.
Kim Stanley Robinson (The Ministry for the Future)
There is a spirituality to money. Things like theft and fraud and dishonesty will never produce good long-term monetary results. And the ROI for those things is always a deficit.
Hendrith Vanlon Smith Jr.
Boom/bust cycles are not inevitable and would not occur were it not for the inflationary monetary policies that always precede recessions.
Peter D. Schiff
Inflation is always and everywhere a monetary phenomenon.
Milton Friedman (Money Mischief: Episodes in Monetary History)
In fact this is precisely the logic on which the Bank of England—the first successful modern central bank—was 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—in 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.
David Graeber (Debt: The First 5,000 Years)
Pick a leader who will make their citizens proud. One who will stir the hearts of the people, so that the sons and daughters of a given nation strive to emulate their leader's greatness. Only then will a nation be truly great, when a leader inspires and produces citizens worthy of becoming future leaders, honorable decision makers and peacemakers. And in these times, a great leader must be extremely brave. Their leadership must be steered only by their conscience, not a bribe.
Suzy Kassem (Rise Up and Salute the Sun: The Writings of Suzy Kassem)
Thanks for your encouraging words. But I know the grim realities of being an artist. Most of us would never make a mark in this world. Nearly all of us would be living in oblivion and would face utter neglect by society. You know what? I am prepared for that. It doesn’t matter whether people laud and appreciate my artistic skills or not. Or whether I live a life of non-recognition. I expect nothing. One becomes a true artist only when one creates art just for the sake of it and not for monetary gains or approval from people. I want to become a true artist. Yes, that would give me happiness.
Abhaidev (The Influencer: Speed Must Have a Limit)
Does a population have informed consent when that population is not taught the inner workings of its monetary system, and then is drawn, all unknowing, into economic adventures?
Frank Herbert (The Dosadi Experiment (ConSentiency Universe, #2))
[..] we human beings are ready and willing to steal something that does not explicitly reference monetary value - that is, something that lacks the face of a dead president.
Dan Ariely (The Honest Truth About Dishonesty: How We Lie to Everyone - Especially Ourselves)
A true generous heart can never revolve majorly with monetary skills nor business acumen nor cunning mind.
Angelica Hopes
Love has no monetary value, but life has no value without love.
Debasish Mridha
Forty-six point two billion dollars, I thought, my heart attacking my rib cage and my mouth sandpaper-dry. Tobias Hawthorne was worth forty-six point two billion dollars, and he left his grandsons a million dollars, combined. A hundred thousand total to his daughters. Another half million to his servants, an annuity for Nan... The math in this equation did not add up. It couldn't add up. One by one, the other occupants of the room of the room turned to stare at me. 'The remainder of my estate,' Mr. Ortega read, 'including all properties, monetary assets, and worldly possessions not otherwise specified, I leave to Avery Kylie Grambs.
Jennifer Lynn Barnes (The Inheritance Games (The Inheritance Games, #1))
It’s unavoidable: so long as we value money more highly than living beings and more highly than relationships, we will continue to see living beings as resources, and convert them to cash; objectifying, killing, extirpating. This is true whether we’re talking about fish, fur-bearing mammals, Indians, day-laborers, and so on. If monetary value is attached to something it will be exploited until it’s gone.
Derrick Jensen (A Language Older Than Words)
A great leader must serve the best interests of the people first, not those of multinational corporations. Human life should never be sacrificed for monetary profit. There are no exceptions. In addition, a leader should always be open to criticism, not silencing dissent. Any leader who does not tolerate criticism from the public is afraid of their dirty hands being revealed under heavy light. And such a leader is dangerous, because they only feel secure in the darkness. Only a leader who is free from corruption welcomes scrutiny; for scrutiny allows a good leader to be an even greater leader.
Suzy Kassem (Rise Up and Salute the Sun: The Writings of Suzy Kassem)
You don’t need to thank me. I take care of the people I love. It’s ingrained in me to be a protector, and I happen to love you very much, so my services are all yours.” He smiles again. “Everything I have is yours, my heart, my home. I know I’m not a millionaire or anything, but I promise you, absolutely nobody will ever love you as much as I do. There is no object, no monetary amount, that signifies my love for you. There are no limits on the hell I’d walk through to make sure you were happy.
Anna Brooks (Make Me Forget (It's Kind of Personal, #1))
Go on, glare your eyes at me, and cry and plead, and talk to me about money and what it can buy. But it can't buy back a child once he's dead!
V.C. Andrews (Flowers in the Attic (Dollanganger, #1))
NOTE FOR YOUNG PEOPLE AND AMERICANS: One shilling = Five Pee. It helps to understand the antique finances of the Witchfinder Army if you know the original British monetary system: Two farthings = One Ha'penny. Two ha'pennies = One Penny. Three pennies = A Thrupenny Bit. Two Thrupences = A Sixpence. Two Sixpences = One Shilling, or Bob. Two Bob = A Florin. One Florin and One Sixpence = Half a Crown. Four Half Crowns = Ten Bob Note. Two Ten Bob Notes = One Pound (or 240 pennies). Once Pound and One Shilling = One Guinea. The British resisted decimalized currency for a long time because they thought it was too complicated.
Neil Gaiman
When you examine the genesis of great works of art, successful start-ups, and revolutionary shifts in politics, you can always trace back a history of monetary and nonmonetary exchange, the hidden patrons and underlying favors.
Amanda Palmer (The Art of Asking; or, How I Learned to Stop Worrying and Let People Help)
If something is wrong for you or me, it is also wrong for the cop, the soldier, the mayor, the governor, the general, the Fed chairman, the president. Theft does not become acceptable when they call it taxation, counterfeiting when they call it monetary policy, kidnapping when they call it the draft, mass murder when they call it foreign policy. We understand that it is never acceptable to wield violence nor the threat of violence against the innocent, whether by the mugger or the politician.
Llewellyn H. Rockwell Jr.
My problem was not with comfort or monetary wealth. My problem was with a way of life in which those who have more than they need are envied or extolled, while those who are materially poor are scorned or forgotten.
John Robbins (The New Good Life: Living Better Than Ever in an Age of Less)
Since she became a full-time housewife, she often noticed that there was a polarised attitude regarding domestic labour. Some demeaned it as ‘bumming around at home’, while others glorified it as ‘work that sustains life’, but none tried to calculate its monetary value. Probably because the moment you put a price on something, someone has to pay.
Cho Nam-joo (Kim Jiyoung, Born 1982)
Success is 3Ms: Your vision produces the Map; your actions produce the Motion; your persistence produces Monetary rewards.
Orrin Woodward
The theory of economic shock therapy relies in part on the roleof expectations on feeding an inflationary process. Reining in inflation requires not only changing monetary policy but also changing the behavior of consumers, employers and workers. The role of a sudden, jarring policy shift is that it quickly alters expectations, signaling to the public that the rules of the game have changed dramatically - prices will not keep rising, nor will wages.
Naomi Klein (The Shock Doctrine: The Rise of Disaster Capitalism)
Do you want to influence the behaviour of people or organisations? You could always preach about values and visions, or you could appeal to reason. But in nearly every case, incentives work better. These need not be monetary; anything is useable, from good grades to Nobel Prizes to special treatment in the afterlife.
Rolf Dobelli (The Art of Thinking Clearly: The Secrets of Perfect Decision-Making)
Midas’s error was to mistake gold, wealth’s monetary measure, for wealth itself. But wealth is not a thing or a random sequence. It is inextricably rooted in hard won knowledge over extended time.
George Gilder (Life After Google: The Fall of Big Data and the Rise of the Blockchain Economy)
The instant that any government obtains a monetary printing press, it becomes a deeply dishonest government, empowered to rob people by stealth. A government with the power to print money knows no limits.
Jeffrey Tucker
The conspicuous fault of the Jeffersonian Party, like the personal fault of Senator Trowbridge, was that it represented integrity and reason, in a year when the electorate hungered for frisky emotions, for the peppery sensations associated, usually, not with monetary systems and taxation rates but with baptism by immersion in the creek, young love under the elms, straight whisky, angelic orchestras heard soaring down from the full moon, fear of death when an automobile teeters above a canyon, thirst in a desert and quenching it with spring water—all the primitive sensations which they thought they found in the screaming of Buzz Windrip.
Sinclair Lewis (It Can't Happen Here)
When our money is pooled together, we can do more good in the world. As spiritual people and conscious people, we can leverage our combined monetary power to have a greater influence on the economy and make it better reflect our values. At the same time, it can be profitable for each of us independently. There’s power in pooling capital. And that’s part of what we do at Mayflower-Plymouth.
Hendrith Vanlon Smith Jr.
Humility is a virtue of the heavenly, not arrogance. Are we the most superior beast on earth? No, not in strength and not in intelligence. It is very arrogant to assume that we are the most intelligent species when we keep repeating the same mistakes over and over again. Both rats and monkeys have been shown to learn from error, yet we have not. More people have died in the name of religion than any other cause on earth. Is massacring God’s creations really serving God – or the devil? And what father would want to see his children constantly divided and fighting? What God would allow a single human life to be sacrificed for monetary gain? Again, the Creator or the devil?
Suzy Kassem (Rise Up and Salute the Sun: The Writings of Suzy Kassem)
Joy may not have any monetary value, but life is worthless without joy.
Debasish Mridha
Love has no monetary value, but it enhances the value of life.
Debasish Mridha
… the fact that it [the US] can, at will, drop bombs with only a few hours’ notice, at absolutely any point on the surface of the planet. No other government has ever had anything remotely like this sort of capacity. In fact, a case could well be made that it is this very power that holds the entire world monetary system, organized around the dollar, together
David Graeber (Debt: The First 5,000 Years)
The art of giving can exist in different forms for different people. For some, the giving of their time acts as a gift to others who need themselves to be heard. Others might find their way in providing knowledge and help to unprivileged. Yet others can make monetary donations to help fund scientific projects and experiments to improve treatments in the medical field. That’s how it works.
Aman Mehndiratta (Aman Mehndiratta)
More people have died in the name of religion than any other cause on earth. Is massacring God's creations really serving God - or the devil? And what father would want to see his children constantly divided and fighting? What God would allow a single human life to be sacrificed for monetary gain? Again, the Creator or the devil?
Suzy Kassem (Rise Up and Salute the Sun: The Writings of Suzy Kassem)
This book (Jarod Kintz's book) is trash. I mean, I assume it is, because that's where I found it while scrounging for lunch. However, I must admit that I haven't read it. I would have, but I am homeless, mainly due to my illiteracy (though Big Government, Keynesian monetary policy, and my struggle with alcoholism certainly played a large role).
Dora J. Arod
One man’s panic funds another’s picnic.
Mokokoma Mokhonoana (N for Nigger: Aphorisms for Grown Children and Childish Grown-ups)
Dollar bill: people spend their whole life seeking to earn it, but won't spend 10 minutes seeking to learn it.
Orrin Woodward
the government relies on two sources of funding: it can raise your taxes, or it can borrow your savings.
Stephanie Kelton (The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy)
For him, it was not “the more you have, the more you can give.” It was “the more you have, the more you have.” Financial worth was the same as self-worth, monetary value was human value. The more Fred Trump had, the better he was. If he gave something to someone else, that person would be worth more and he less. He would pass that attitude on to Donald in spades.
Mary L. Trump (Too Much and Never Enough: How My Family Created the World's Most Dangerous Man)
When other countries run sustained trade deficits, they must finance these by selling off domestic assets or running into debt — debt which they actually are obliged to pay. It seems that only the Americans are so bold as to say “Screw the world. We’re going to do whatever we want.” Other countries simply cannot afford the chaos from which the U.S. economy is positioned to withstand as a result of the fact that foreign trade plays a smaller role in its economy than in those of nearly all other nations in today’s interdependent world. Using debtor leverage to set the terms on which it will refrain from causing monetary chaos, America has turned seeming financial weakness into strength. U.S. Government debt has reached so large a magnitude that any attempt to replace it will entail an interregnum of financial chaos and political instability. American diplomats have learned that they are well positioned to come out on top in such grab-bags.
Michael Hudson (The Bubble and Beyond)
If all bank loans were paid, no one would have a bank deposit, and there would not be a dollar of currency or coin in circulation. 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 monetary system. When one gets a complete grasp upon this picture, the tragic absurdity of our helpless position is almost incredible–but there it is.
Robert H. Hemphill
There is a strange idea abroad, held by all monetary cranks, that credit is something a banker gives to a man. Credit, on the contrary, is something a man already has. He has it, perhaps, because he already has marketable assets of a greater cash value than the loan for which he is asking. Or he has it because his character and past record have earned it. He brings it into the bank with him. That is why the banker makes him the loan. The banker is not giving something for nothing.
Henry Hazlitt (Economics in One Lesson: The Shortest & Surest Way to Understand Basic Economics)
The best reason for committing loathsome and detestable acts--and let's face it, I am considered something of an expert in this field--is purely for their own sake. Monetary gain is all very well, but it dilutes the taste of wickedness to a lower level that is obtainable by anyone with an overdeveloped sense of avarice. True and baseless evil is as rare as the purest good--and we all know how rare that is...
Jasper Fforde (The Eyre Affair (Thursday Next, #1))
Look. I'm your expert consultant for a rather pathetic monetary wage, and under that agreement I have the option of selecting a technical assistant. He's mine." She blew out a breath, paced to the window. Paced back. "Not just yours. It makes him mine, too. I don't know how to deal with a teenaged type person." "Ah, well, I'd say you'd deal with him as you deal with everyone else. You order him around, and if he argues or doesn't jump quickly enough you freeze his blood with one of those vicious looks you're so good at and verbally abuse him. It always works so well for you." "You think so?" "There, see." He cupped her chin. "There it is now. I can actually feel my blood running cold.
J.D. Robb (Purity in Death (In Death, #15))
Cultures that do not recognize that human life and the natural world have a sacred dimension, an intrinsic value beyond monetary value, cannibalize themselves until they die. They ruthlessly exploit the natural world and the members of their society in the name of progress until exhaustion or collapse, blind to the fury of their own self-destruction.
Chris Hedges (The World As It Is: Dispatches on the Myth of Human Progress)
Almost as an article of faith, some individuals believe that conspiracies are either kooky fantasies or unimportant aberrations. To be sure, wacko conspiracy theories do exist. There are people who believe that the United States has been invaded by a secret United Nations army equipped with black helicopters, or that the country is secretly controlled by Jews or gays or feminists or black nationalists or communists or extraterrestrial aliens. But it does not logically follow that all conspiracies are imaginary. Conspiracy is a legitimate concept in law: the collusion of two or more people pursuing illegal means to effect some illegal or immoral end. People go to jail for committing conspiratorial acts. Conspiracies are a matter of public record, and some are of real political significance. The Watergate break-in was a conspiracy, as was the Watergate cover-up, which led to Nixon’s downfall. Iran-contra was a conspiracy of immense scope, much of it still uncovered. The savings and loan scandal was described by the Justice Department as “a thousand conspiracies of fraud, theft, and bribery,” the greatest financial crime in history. Often the term “conspiracy” is applied dismissively whenever one suggests that people who occupy positions of political and economic power are consciously dedicated to advancing their elite interests. Even when they openly profess their designs, there are those who deny that intent is involved. In 1994, the officers of the Federal Reserve announced they would pursue monetary policies designed to maintain a high level of unemployment in order to safeguard against “overheating” the economy. Like any creditor class, they preferred a deflationary course. When an acquaintance of mine mentioned this to friends, he was greeted skeptically, “Do you think the Fed bankers are deliberately trying to keep people unemployed?” In fact, not only did he think it, it was announced on the financial pages of the press. Still, his friends assumed he was imagining a conspiracy because he ascribed self-interested collusion to powerful people. At a World Affairs Council meeting in San Francisco, I remarked to a participant that U.S. leaders were pushing hard for the reinstatement of capitalism in the former communist countries. He said, “Do you really think they carry it to that level of conscious intent?” I pointed out it was not a conjecture on my part. They have repeatedly announced their commitment to seeing that “free-market reforms” are introduced in Eastern Europe. Their economic aid is channeled almost exclusively into the private sector. The same policy holds for the monies intended for other countries. Thus, as of the end of 1995, “more than $4.5 million U.S. aid to Haiti has been put on hold because the Aristide government has failed to make progress on a program to privatize state-owned companies” (New York Times 11/25/95). Those who suffer from conspiracy phobia are fond of saying: “Do you actually think there’s a group of people sitting around in a room plotting things?” For some reason that image is assumed to be so patently absurd as to invite only disclaimers. But where else would people of power get together – on park benches or carousels? Indeed, they meet in rooms: corporate boardrooms, Pentagon command rooms, at the Bohemian Grove, in the choice dining rooms at the best restaurants, resorts, hotels, and estates, in the many conference rooms at the White House, the NSA, the CIA, or wherever. And, yes, they consciously plot – though they call it “planning” and “strategizing” – and they do so in great secrecy, often resisting all efforts at public disclosure. No one confabulates and plans more than political and corporate elites and their hired specialists. To make the world safe for those who own it, politically active elements of the owning class have created a national security state that expends billions of dollars and enlists the efforts of vast numbers of people.
Michael Parenti (Dirty Truths)
Here it is self-evident that public admiration and monetary reward are of the same nature and can become substitutes for each other. Public admiration, too, is something to be used and consumed, and status, as we would say today, fulfils one need as food fulfils another: public admiration is consumed by individual vanity as food is consumed by hunger.
Hannah Arendt (The Human Condition)
I see things in windows and I say to myself that I want them. I want them because I want to belong. I want to be liked by more people, I want to be held in higher regard than others. I want to feel valued, so I say to myself to watch certain shows. I watch certain shows on the television so I can participate in dialogues and conversations and debates with people who want the same things I want. I want to dress a certain way so certain groups of people are forced to be attracted to me. I want to do my hair a certain way with certain styling products and particular combs and methods so that I can fit in with the In-Crowd. I want to spend hours upon hours at the gym, stuffing my body with what scientists are calling 'superfoods', so that I can be loved and envied by everyone around me. I want to become an icon on someone's mantle. I want to work meaningless jobs so that I can fill my wallet and parentally-advised bank accounts with monetary potential. I want to believe what's on the news so that I can feel normal along with the rest of forever. I want to listen to the Top Ten on Q102, and roll my windows down so others can hear it and see that I am listening to it, and enjoying it. I want to go to church every Sunday, and pray every other day. I want to believe that what I do is for the promise of a peaceful afterlife. I want rewards for my 'good' deeds. I want acknowledgment and praise. And I want people to know that I put out that fire. I want people to know that I support the war effort. I want people to know that I volunteer to save lives. I want to be seen and heard and pointed at with love. I want to read my name in the history books during a future full of clones exactly like me. The mirror, I've noticed, is almost always positioned above the sink. Though the sink offers more depth than a mirror, and mirror is only able to reflect, the sink is held in lower regard. Lower still is the toilet, and thought it offers even more depth than the sink, we piss and shit in it. I want these kind of architectural details to be paralleled in my every day life. I want to care more about my reflection, and less about my cleanliness. I want to be seen as someone who lives externally, and never internally, unless I am able to lock the door behind me. I want these things, because if I didn't, I would be dead in the mirrors of those around me. I would be nothing. I would be an example. Sunken, and easily washed away.
Dave Matthes
The debt isn’t the reason we can’t have nice things. Our broken thinking is. To fix our broken thinking, we need to overcome more than just an aversion to big numbers with the word debt attached. We need to beat back every destructive myth that hobbles our thinking.
Stephanie Kelton (The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy)
The world put's too much emphasis on what a person does in terms of monetary value and social status as opposed to who they are. If I was to ask you if you would be loved for who you are or what you do (eg. your occupation), I would guess that you would say who you are. Things are the wrong way around unless you follow Jesus. God cares about who we are primarily, not what we do. It is our character and approach to life that he cares about. God wants us to choose him and put him first which ultimately means being a servant to him and others.
Tim Crawshaw
Tom Watson, a prominent Populist leader, in a speech advocating a union between black and white farmers: “You are kept apart that you may be separately fleeced of your earnings. You are made to hate each other because upon that hatred is rested the keystone of the arch of financial despotism that enslaves you both. You are deceived and blinded that you may not see how this race antagonism perpetuates a monetary system which beggars both.
Michelle Alexander (The New Jim Crow: Mass Incarceration in the Age of Colorblindness)
Money is not the first step to becoming a great achiever. Your ideas determine the cost you will need to pay. So if you have no ideas, you can't know the amount you will need!
Israelmore Ayivor (The Great Hand Book of Quotes)
See money – currency - as the flow of energy and giving that cycles between you, others and me. Now let it flow kindly, fairly and mindfully.
Rasheed Ogunlaru
it (government) can't run out of dollars any more than a carpenter can run out of inches.
Stephanie Kelton
Given their automatic tuning out, ADD children forever find themselves being told to “pay attention”—a demand that completely misunderstands both the nature of the child and the nature of attention. The obvious monetary connotation of “pay” is that attention is something the child owes the adult, that the child’s attention belongs to the adult by right. The phrase takes for granted that being attentive is always a consciously chosen act, subject to one’s will. Both of these assumptions are faulty.
Gabor Maté (Scattered Minds: The Origins and Healing of Attention Deficit Disorder)
The desire to avoid loss ran deep, and expressed itself most clearly when the gamble came with the possibility of both loss and gain. That is, when it was like most gambles in life. To get most people to flip a coin for a hundred bucks, you had to offer them far better than even odds. If they were going to lose $100 if the coin landed on heads, they would need to win $200 if it landed on tails. To get them to flip a coin for ten thousand bucks, you had to offer them even better odds than you offered them for flipping it for a hundred. “The greater sensitivity to negative rather than positive changes is not specific to monetary outcomes,” wrote Amos and Danny. “It reflects a general property of the human organism as a pleasure machine. For most people, the happiness involved in receiving a desirable object is smaller than the unhappiness involved in losing the same object.” It wasn’t hard to imagine why this might be—a heightened sensitivity to pain was helpful to survival. “Happy species endowed with infinite appreciation of pleasures and low sensitivity to pain would probably not survive the evolutionary battle,” they wrote.
Michael Lewis (The Undoing Project: A Friendship That Changed Our Minds)
Love is not a feeling, but the characteristic of a productive relationship. Failing to understand this is our great error in a time when all of us are chasing love as a goal, but finding only an extraordinary lack of love, for which we then blame ourselves. Our misunderstanding of love continues to make this situation worse. A world in which love exists in fantasies but has no actual potency loses the ability to facilitate fair negotiations, bestow meaning, or produce anything other than purely monetary wealth.
Andreas Weber (Matter and Desire: An Erotic Ecology)
The inside jokes have already dissolved into unordered words with no punchline. The gifts have been reduced to objects whose saving grace is their monetary value, no meaning and all function. There are photographs, somewhere, but I’m not the person posed in them anymore and whoever that is sitting next to me, all dressed up in your costume and wearing your mask, well, that’s not you either.
Stephanie Georgopulos
I became convinced that the advanced industrial countries, through international organizations like the International Monetary Fund (IMF), the World Trade Organization (WTO), and the World Bank, were not only not doing all that they could to help these [developing] countries but were sometimes making their life more difficult. IMF programs had clearly worsened the East Asian crisis, and the "shock therapy" they had pushed in the former Soviet Union and its satellites played an important role in the failure of the transition.
Joseph E. Stiglitz (Making Globalization Work)
In the days when money was backed by its face value in silver or gold, there were limits to how much wealth could flow around the world. Today, it's virtual money that the bank lends into existence on a computer screen. "And unless the economy continually expands, there is no new flow of money to pay back that money, plus interest." . . . "As it stands now, if banks start loaning money more slowly than they collect debts, the quantity of money in the economy goes down, and it's impossible to pay back debts. So we get defaults on houses . . . our economy plunges into misery and unemployment. Under our current monetary system, the only alternative to that is endless growth. So one absolute thing we have to change is the whole nature of the monetary system. . . . we deny banks the right to create money." . . . There's a challenge with that solution, he admits. "You're trying to take the right to create wealth away from some of the wealthiest people on the planet.
Alan Weisman (Countdown: Our Last Best Hope for a Future on Earth?)
The United States thus achieved what no earlier imperial system had put in place: a flexible form of global exploitation that controlled debtor countries by imposing the Washington Consensus via the IMF and World Bank, while the Treasury bill standard obliged the payments-surplus nations of Europe and East Asia to extend forced loans to the U.S. Government. Against dollar-deficit regions the United States continued to apply the classical economic leverage that Europe and Japan were not able to use against it. Debtor economies were forced to impose economic austerity to block their own industrialization and agricultural modernization. Their designated role was to export raw materials and provide low-priced labor whose wages were denominated in depreciating currencies. Against dollar-surplus nations the United States was learning to apply a new, unprecedented form of coercion. It dared the rest of the world to call its bluff and plunge the international economy into monetary crisis. That is what would have happened if creditor nations had not channeled their surplus savings to the United States by buying its Government securities.
Michael Hudson (Super Imperialism: The Origin and Fundamentals of U.S. World Dominance)
In other words, once reward contingencies are learned, dopamine is less about reward than about its anticipation. Similarly, work by my Stanford colleague Brian Knutson has shown dopamine pathway activation in people in anticipation of a monetary reward.91 Dopamine is about mastery and expectation and confidence. It’s “I know how things work; this is going to be great.” In other words, the pleasure is in the anticipation of reward, and the reward itself is nearly an afterthought (unless, of course, the reward fails to arrive, in which case it’s the most important thing in the world). If you know your appetite will be sated, pleasure is more about the appetite than about the sating.fn48 This is hugely important.
Robert M. Sapolsky (Behave: The Biology of Humans at Our Best and Worst)
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 (Human Action)
It is one thing when prices drift downward over time due to innovation, scalability or other efficiencies. This might be considered “good” deflation and is familiar to any contemporary consumer who has seen prices of computers or wide-screen TVs fall year after year. It is another matter when prices are forced down by unnecessary monetary contraction, credit constraints, deleveraging, business failures, bankruptcies and mass unemployment. This may be considered “bad” deflation. This bad deflation was exactly what was required in order to return the most important currencies to their prewar parity with gold.
James Rickards (Currency Wars: The Making of the Next Global Crisis)
you want is someone beside you, holding your hand. When I try to make sense of the past year, it feels to me like the world pressed pause. When we stopped moving, we noticed that the ways we have chosen to validate ourselves are lists of items or experiences we need to have, goals that are monetary or mercenary. Now, I’m wondering why those were ever even goals. We don’t need those things to feel whole. We need to wake up in the morning. We need our bodies to function. We need to enjoy a meal. We need a roof over our head. We need to surround ourselves with people we love. We need to take the wins in a much smaller way.
Jodi Picoult (Wish You Were Here)
the International Monetary Fund basically acted as the world’s debt enforcers—“You might say, the high-finance equivalent of the guys who come to break your legs.” I launched into historical background, explaining how, during the ’70s oil crisis, OPEC countries ended up pouring so much of their newfound riches into Western banks that the banks couldn’t figure out where to invest the money; how Citibank and Chase therefore began sending agents around the world trying to convince Third World dictators and politicians to take out loans (at the time, this was called “go-go banking”); how they started out at extremely low rates of interest that almost immediately skyrocketed to 20 percent or so due to tight U.S. money policies in the early ’80s; how, during the ’80s and ’90s, this led to the Third World debt crisis; how the IMF then stepped in to insist that, in order to obtain refinancing, poor countries would be obliged to abandon price supports on
David Graeber (Debt: The First 5,000 Years)
To start with, the overwhelming majority of serial killers are male,’ Hunter explained. ‘Female serial killers have a tendency to kill for monetary profit. While that can also be true their male counterparts, it’s very unlikely. Sexual reasons top the list for male serial killers. Case studies have also shown that female killers generally kill people close to them, such as husbands, family members, or people dependent on them. Males kill strangers more often. Female serial killers also tend to kill more quietly, with poison or other less violent methods, like suffocation. Male serial killers, on the other hand, show a greater tendency to include torture or mutilation as part of the process of killing. When women are implicated in sadistic homicides, they’ve usually acted in partnership with a man.
Chris Carter (The Crucifix Killer (Robert Hunter, #1))
Meanwhile, peer-to-peer blockchain networks and cryptocurrencies such as Bitcoin might completely revamp the monetary system, making radical tax reforms inevitable. For example, it might become impossible or irrelevant to calculate and tax incomes in dollars, because most transactions will not involve a clear-cut exchange of national currency, or any currency at all. Governments might therefore need to invent entirely new taxes—perhaps a tax on information (which will be both the most important asset in the economy and the only thing exchanged in numerous transactions). Will the political system manage to deal with the crisis before it runs out of money?
Yuval Noah Harari (21 Lessons for the 21st Century)
Every field has its technological advances and evolves in the direction that reduces the amount of physical labor required, but people are particularly reluctant to admit that the same is true for domestic labor. Since she became a full-time housewife, she often noticed that there was a polarized attitude regarding domestic labor. Some demeaned it as “bumming around at home,” while others glorified it as “work that sustains life,” but none tried to calculate its monetary value. Probably because the moment you put a price on something, someone has to pay.
Cho Nam-joo (82년생 김지영)
A false alarm is sounded that government budget deficits will increase consumer prices — with no discussion of how private-sector credit deflates economies. The problem is that credit is debt — and paying debt service to bankers and bondholders (and various grades of loan sharks) leaves less income available to spend on goods and services. So debt deflation is today’s major problem, not inflation.
Michael Hudson (The Bubble and Beyond)
The recognition of the insuperable limits to his knowledge ought indeed to teach the student of society a lesson of humility which should guard him against becoming an accomplice in men’s fatal striving to control society—a striving which makes him not only a tyrant over his fellows, but which may well make him the destroyer of a civilization which no brain has designed but which has grown from the free efforts of millions of individuals.
Friedrich A. Hayek (A Free-Market Monetary System and The Pretense of Knowledge)
The most powerful interests are basic human needs. In searching for the basic interests behind a declared position, look particularly for those bedrock concerns that motivate all people. If you can take care of such basic needs, you increase the chance both of reaching agreement and, if an agreement is reached, of the other side’s keeping to it. Basic human needs include: security economic well-being a sense of belonging recognition control over one’s life As fundamental as they are, basic human needs are easy to overlook. In many negotiations, we tend to think that the only interest involved is money. Yet even in a negotiation over a monetary figure, such as the amount of alimony to be specified in a separation agreement, much more can be involved.
Roger Fisher (Getting to Yes: Negotiating Agreement without Giving In)
I fancy myself a writer. And writing, in its most eloquent manner, since time became a concept indoctrinated by true troglodytes, tickles my dong; it throttles my flume; it punts my epididymus to horizons fantastical. And not just writing bullshit; a few seemingly overused words to describe the belched bark of a goddamn sequoia, but actually writing. Writing to me is not about thinking, it's not about personality traits or hell, even the conveyance of feelings. Writing is like breathing to me. I have to do it. I have to inhale it and exhale it, no matter what comes in and likewise what comes out. Traversing the slopes of the soul, scratching that all but intangible itch, I find solace in the abyss of my complacency. It‟s not for recognition, not for income or monetary satisfaction. None of that really matters to me. The only thing that matters to me is finding the way to transfer a thought to paper; a heartbeat to the surface; a blink and a gasp to submissively correspond with the outcry of tangible suspense.
Dave Matthes
Similarly, the fact that another person believes in cowry shells, or dollars, or electronic data, is enough to strengthen our own belief in them, even if that person is otherwise hated, despised or ridiculed by us. Christians and Muslims who could not agree on religious beliefs could nevertheless agree on a monetary belief, because whereas religion asks us to believe in something, money asks us to believe that other people believe in something. For thousands of years, philosophers, thinkers and prophets have besmirched money and called it the root of all evil. Be that as it may, money is also the apogee of human tolerance. Money is more open-minded than language, state laws, cultural codes, religious beliefs and social habits. Money is the only trust system created by humans that can bridge almost any cultural gap, and that does not discriminate on the basis of religion, gender, race, age or sexual orientation. Thanks to money, even people who don’t know each other and don’t trust each other can nevertheless cooperate effectively. The
Yuval Noah Harari (Sapiens: A Brief History of Humankind)
I understand that it’s disheartening to pour effort and money into a work of art and find that others do not value it with the same intensity. I’ve been to this rodeo more than a few times, and yes, it’s painful and hard on the soul. It is also the sort of thing that grown-ups do every day. Anyone deluded enough to think they are owed monetary success because they bled for their art is in for some hard, hard knocks and buckets full of tears. There will be many cries of “unfair” and much jealousy and hatred. And to be fair, all authors go through this every time they watch their books ride the waves of bestseller charts and the ego torture chamber known as Goodreads reviews. Even the most well-adjusted of us watch that horrible piece of shit book beat our baby to pieces and gnash our teeth and shout at our monitors demanding to know what brain-donors are shopping on amazon.com these days. But holy Smart Bitch on a cracker, Batman, to write a post about how stupid readers are and worse to actually put it out there on the internet is so beyond the pale there’s a special hell for that kind of idiocy. Let me repeat: authors exist at the pleasure of readers. Without the people who buy and read my books, I am just another dizzy broad writing shit down. Readers aren’t just an author’s audience; they are her lifeblood. --
Heidi Cullinan
But you didn’t mention Orrigar I, the first king of the House of Chaldarina. He put an end to years of unrest and civil strife. Neither did you mention Ronnick II, the one who reformed the monetary system and forbade the Great Houses to mint their own coins, thus stabilizing our currency. At the time it saved Ximerion from going bankrupt.” “I’m sorry. I told you we weren’t big—” “It’s not that, Hemarchidas. You remembered the fighting kings, those who brought war, destruction and ephemeral glory. Or those who ended tragically. You forgot the wise administrators, those who kept the peace, those who brought prosperity. You needn’t feel embarrassed, though. So did history.” Hemarchidas looked at his friend as if he saw him for the first time. “So, all in all, Hemarchidas, I’d rather history forgot me.
Andrew Ashling
The first people to get the new money are the counterfeiters, which they use to buy various goods and services. The second receivers of the new money are the retailers who sell those goods to the counterfeiters. And on and on the new money ripples out through the system, going from one pocket or till to another. As it does so, there is an immediate redistribution effect. For first the counterfeiters, then the retailers, etc. have new money and monetary income they use to bid up goods and services, increasing their demand and raising the prices of the goods that they purchase. But as prices of goods begin to rise in response to the higher quantity of money, those who haven't yet received the new money find the prices of the goods they buy have gone up, while their own selling prices or incomes have not risen. In short, the early receivers of the new money in this market chain of events gain at the expense of those who receive the money toward the end of the chain, and still worse losers are the people (e.g., those on fixed incomes such as annuities, interest, or pensions) who never receive the new money at all.
Murray N. Rothbard
The whole tradition of [oral] story telling is endangered by modern technology. Although telling stories is a very fundamental human attribute, to the extent that psychiatry now often treats 'narrative loss' -- the inability to construct a story of one's own life -- as a loss of identity or 'personhood,' it is not natural but an art form -- you have to learn to tell stories. The well-meaning mother is constantly frustrated by the inability of her child to answer questions like 'What did you do today?' (to which the answer is usually a muttered 'nothing' -- but the 'nothing' is cover for 'I don't know how to tell a good story about it, how to impose a story shape on the events'). To tell stories, you have to hear stories and you have to have an audience to hear the stories you tell. Oral story telling is economically unproductive -- there is no marketable product; it is out with the laws of patents and copyright; it cannot easily be commodified; it is a skill without monetary value. And above all, it is an activity requiring leisure -- the oral tradition stands squarely against a modern work ethic....Traditional fairy stories, like all oral traditions, need the sort of time that isn't money. "The deep connect between the forests and the core stories has been lost; fairy stories and forests have been moved into different categories and, isolated, both are at risk of disappearing, misunderstood and culturally undervalued, 'useless' in the sense of 'financially unprofitable.
Sara Maitland (Gossip from the Forest: A Search for the Hidden Roots of Our Fairytales)
The Lord’s Prayer is found in Matthew 6. In verse 12 Jesus says, “Forgive us our debts, as we forgive our debtors” (NKJV). When God talks about debts, He’s not just talking about monetary debts. He’s talking about the times when people hurt you, the times when people do you wrong. God refers to that as a debt because when you are mistreated, you may feel you are owed something. Human nature says, “I was wronged. Now I want justice. You mistreated me. Now you’ve got to pay me back.” But the mistake many people make is in trying to collect a debt that only God can pay. The father can’t give his daughter’s innocence back to her. Your parents can’t pay you back for not having a loving childhood. Your spouse can’t pay you back for the pain he caused by being unfaithful. Only God can truly pay you back. If you want to be restored and whole, get on God’s payroll. He knows how to make things right. He knows how to bring justice. He’ll give you what you deserve. Leave it up to Him. Quit expecting people to make it up to you. They can’t give you what they don’t have.
Joel Osteen (Every Day a Friday: How to Be Happier 7 Days a Week)
If man is not to do more harm than good in his efforts to improve the social order, he will have to learn that in this, as in all other fields where essential complexity of an organized kind prevails, he cannot acquire the full knowledge which would make mastery of the events possible. He will therefore have to use what knowledge he can achieve, not to shape the results as the craftsman shapes his handiwork, but rather to cultivate a growth by providing the appropriate environment, in the manner in which the gardener does this for his plants.
Friedrich A. Hayek (A Free-Market Monetary System and The Pretense of Knowledge)
The processes of corporate power do not work in isolation. The economic and legal mechanisms that allow the privatization of the commonwealth, externalization of costs, predatory economic practices, political influence-buying, manipulation of regulation and deregulation, control of the media, propaganda and advertising in schools, and the use of police and military forces to protect the property of the wealthy-all of these work synergistically to weave a complex web of power. Activists have dedicated lifetimes of necessary work to deal with the results of corporate power, by trying to mitigate the results of power: an ever-increasing disparity in wealth and power and continual economic, political, environmental, and human rights crises. For social justice campaigns to be strategic, it is also necessary to examine how privatization, externalization, monopoly, and other corporate power processes have been institutionalized. This institutionalization is exemplified in the structural adjustment programs of the World Bank and International Monetary Fund, and in recent "free" trade agreements which have culminated in the creation of the World Trade Organization. An understanding of such institutions provides a necessary tool for achieving the long-term goals of environmental sustainability and social justice.
George Draffan
The government can create money. So, what’s the point of taxes? Why does the government need to take my money in taxes?18 I told the folks at Planet Money that MMT recognizes at least four important reasons for taxation.19 We’ve already touched on the first. Taxes enable governments to provision themselves without the use of explicit force. If the British government stopped requiring its people to settle their tax obligations using British pounds, it would rather quickly undermine its provisioning powers. Fewer people would need to earn pounds, and the government would have a harder time finding teachers, nurses, and so on who were willing to work and produce things in exchange for its currency.
Stephanie Kelton (The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy)
McDougall was a certified revolutionary hero, while the Scottish-born cashier, the punctilious and corpulent William Seton, was a Loyalist who had spent the war in the city. In a striking show of bipartisan unity, the most vociferous Sons of Liberty—Marinus Willett, Isaac Sears, and John Lamb—appended their names to the bank’s petition for a state charter. As a triple power at the new bank—a director, the author of its constitution, and its attorney—Hamilton straddled a critical nexus of economic power. One of Hamilton’s motivations in backing the bank was to introduce order into the manic universe of American currency. By the end of the Revolution, it took $167 in continental dollars to buy one dollar’s worth of gold and silver. This worthless currency had been superseded by new paper currency, but the states also issued bills, and large batches of New Jersey and Pennsylvania paper swamped Manhattan. Shopkeepers had to be veritable mathematical wizards to figure out the fluctuating values of the varied bills and coins in circulation. Congress adopted the dollar as the official monetary unit in 1785, but for many years New York shopkeepers still quoted prices in pounds, shillings, and pence. The city was awash with strange foreign coins bearing exotic names: Spanish doubloons, British and French guineas, Prussian carolines, Portuguese moidores. To make matters worse, exchange rates differed from state to state. Hamilton hoped that the Bank of New York would counter all this chaos by issuing its own notes and also listing the current exchange rates for the miscellaneous currencies. Many Americans still regarded banking as a black, unfathomable art, and it was anathema to upstate populists. The Bank of New York was denounced by some as the cat’s-paw of British capitalists. Hamilton’s petition to the state legislature for a bank charter was denied for seven years, as Governor George Clinton succumbed to the prejudices of his agricultural constituents who thought the bank would give preferential treatment to merchants and shut out farmers. Clinton distrusted corporations as shady plots against the populace, foreshadowing the Jeffersonian revulsion against Hamilton’s economic programs. The upshot was that in June 1784 the Bank of New York opened as a private bank without a charter. It occupied the Walton mansion on St. George’s Square (now Pearl Street), a three-story building of yellow brick and brown trim, and three years later it relocated to Hanover Square. It was to house the personal bank accounts of both Alexander Hamilton and John Jay and prove one of Hamilton’s most durable monuments, becoming the oldest stock traded on the New York Stock Exchange.
Ron Chernow (Alexander Hamilton)