A Quote by Benjamin Franklin
Think What You Do When You Run in Debt: You Give to Another Power over Your Liberty
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No man is truly free who is in financial bondage. 'Think what you do when you run in debt', said Benjamin Franklin, 'you give another power over your liberty.'
Is the relinquishment of the trial by jury and the liberty of the press necessary for your liberty? Will the abandonment of your most sacred rights tend to the security of your liberty? Liberty, the greatest of all earlthy blessings - give us that precious jewel, and you may take every things else! . . . Guard with jealous attention the public liberty. Suspect every one who approaches that jewel.
All the central banks are doing is substituting one form of debt with another form of debt. They're issuing short term debt and using it to buy long term debt. In finance, we tend to think that's a neutral activity, even though those stimulus programs are huge.
When you remain angry with another person, you give away your emotional control to that person each time you think of him or here. You allow him or her to control your emotions at long distance. By not forgiving, you allow that person to run your emotional life, exactly as if he or she were right there with you and the situation was occurring all over again.
I do think that all economies need a sense of fiscal discipline especially over the midterm and if you are in the middle of a debt crisis you can't borrow your way out of a debt crisis. That's logically impossible.
I hope that the United States would cooperate with the partners to reduce its debt. The debt is a problem. The debt is with you, but unfortunately, the debt is not only with you but with us and with the rest of the world because we all, one way or another, are dependent on the dollar.
We all have the power, intuition, and ability to think and act for ourselves until we give that power away. We give our power away because we're bullied into thinking we aren't good enough and someone else must know better than us; therefore, we should give over our instincts and act according to instruction.
Liberty is not just an idea, an abstract principle. It is power, effective power to do specific things. There is no such thing as liberty in general; liberty, so to speak, at large.
The biggest debt is always the government debt; it's always debt that government has run up on your behalf.
If you like small government you need to work hard at having a strong national defense that is not so militant. Personal liberty is the purpose of government, to protect liberty - not to run your personal life, not to run the economy, and not to pretend that we can tell the world how they ought to live.
It all begins and ends in your mind. What you give power to, has power over you, if you allow it.
If you're going to live in a community, you have to refrain from killing one another and stealing from one another. You must have honor and honesty in your dealings with one another. But I think the deeper thing that we need to do is to become so fully human that we don't grasp at life; we give life away. We give love away. We give being away. That is the ultimate work of religion.
You exist in time: future, present, and past. This is manifest in life, liberty, and the product of your life and liberty. The exercise of choices over life and liberty is your prosperity. To lose your life is to lose your future. To lose your liberty is to lose your present. And to lose the product of your life and liberty is to lose the portion of your past that produced it.
...the Statue of Liberty's got this invitation: 'Give me your tired, your poor, your reeking homeless--' 'Huddled masses,' said Ira. 'Give me your tired, your poor, your huddled masses yearning to breathe free.' ... Okay, fine. So like everybody in the old countries says, 'Hey, I'm a huddled mass,' and they all wanna come over.
It is a strange desire, to seek power, and to lose liberty; or to seek power over others, and to lose power over a man's self.
When you default on a secured debt, the creditor takes the asset that backs up that debt. When you convert credit card debt to mortgage debt, you are securing that credit card debt with your home. That's a risky proposition.
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