Economics Quotes

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

US President Thomas Jefferson

(In the debate over the Re-charter of the Bank Bill 1809)

“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”

US President Woodrow Wilson

(A few years after he had signed the 1913 Federal Reserve Act)

"The modern banking system manufactures money out of nothing... Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits."

Josiah Stamp

Director of the Bank of England 1928-1941

"Each and every time a bank makes a loan (or purchases securities), new bank credit is created — new deposits — brand new money... Broadly speaking, all new money comes out of a Bank in the form of loans. As loans are debts, then under the present system all money is debt."

Graham F. Towers

Governor of the Central Bank of Canada (1934 to 1955)

“We have in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. They are not government institutions. They are private monopolies which prey upon the people of the United States for the benefit of themselves and their foreign and domestic swindlers; rich and predatory moneylenders. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it.

What king ever robbed his subjects to such an extent as the Federal Reserve Board and the Federal Reserve Banks have robbed us? I think it can hardly be disputed… that the control over our gold and our credit power through the Federal Reserve System has fallen into the hands of powerful international financiers. Those 12 private credit monopolies were deceitfully and disloyally foisted upon this country by bankers who came here from Europe…The danger that the country was warned against came upon us and is shown in the long train of horrors attendant upon the affairs of the traitorous and dishonest Federal Reserve Board and the Federal Reserve Banks. This is an era of economic misery, and, for the conditions that caused that misery, the Federal Reserve Board and the Federal Reserve Banks are fully liable. This is an era of financial crime.”

Congressman Louis T. McFadden in 1932

Referring to the Great Depression :

“It was not accidental. It was a carefully contrived occurrence… The international bankers sought to bring about a condition of despair here so that they might emerge rulers of us all”

Congressman Louis T. McFadden

( Chairman of the House Committee on Banking and Currency from 1920 to 1931 .There were two attempts on McFadden's life, a failed shooting and an apparent poisoning that made him "violently ill" after attending a political banquet in Washington. source : Robert Edward Edmondson, Pelley's Weekly, October 14, 1936)

"I care not what the politics of a nation are, give me control of it's money supply and I will decide it's politics"

Amschel Rothschild (1744–1812)

Founder of the Rothschild family international banking dynasty

"This new law [the Federal Reserve Act] will create inflation whenever the trusts want inflation. It may not do so immediately, but ... if the trusts can get another period of inflation, they figure they can unload the stocks on the people at high prices during the excitement and them bring on a panic and buy them back at low prices... The people may not know it immediately, but the day of reckoning is only a few years removed."

Congressman Lindberg. December 22, 1913.

"Whoever controls the volume of money in our country is absolute master of all industry, and commerce ... and when you realize that the system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation, and depression originate."
US President James Garfield. 1881

(James Garfield was assasinated in 1881)

“Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.”

John Maynard Keynes 1883-1946

Founder of Keynesian Economic theory

On Recessions :

“By this means government may secretly and unobserved, confiscate the wealth of the people and not one man in a million will detect the theft”

John Maynard Keynes 1883-1946

Founder of Keynesian Economic theory