A Quote by Carter G. Woodson
Negro banks, as a rule, have failed because the people, taught that their own pioneers in business cannot function in this sphere, withdrew their deposits.
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There cannot be a surer rule, nor a stronger exhortation to the observance of it, than when we are taught that all the endowments which we possess are divine deposits entrusted to us for the very purpose of being distributed for the good of our neighbour.
We need the government to force the banks to write down all their bad assets now and then recapitalize themselves, preferably with private capital. Those banks that cannot raise sufficient capital should be seized and their deposits sold off.
At the base of the Fed pyramid, and therefore of the bank system's creation of "money" in the sense of deposits, is the Fed's power to print legal tender money. But the Fed tries its best not to print cash but rather to "print" or create demand deposits, checking deposits, out of thin air, since its demand deposits constitute the reserves on top of which the commercial banks can pyramid a multiple creation of bank deposits, or "checkbook money."
Fractional reserve banks are sitting ducks and are always subject to contraction. When the banks' state of inherent bankruptcy is discovered, for example, people will tend to cash in their deposits, and the contractionary, deflationary pressure could be severe.
I support the Volcker rule, but there needs to be proper definitions around the Volcker rule so that banks can understand exactly what they can do and what they can't do, and that they can provide the necessary function of liquidity in customer markets.
Banks hold deposits and savings entrusted to them by individuals, by businesses, by governments and by central banks. They put that money to work, helping people to buy homes, for example, or lending to businesses to invest in expansion.
The communists basically acted as the police force of the security system of the [Spain] Republic and were very much opposed to the anarchists, partially because [Joseph] Stalin still hoped at that time to have some kind of pact with Western countries against [Adolf] Hitler. That, of course, failed and Stalin withdrew the support to the Republic. They even withdrew the Spanish gold reserves.
There are people who think that we cannot rule ourselves because the few times we tried, we failed, as if all the others who rule themselves today got it right the first time. It is like telling a crawling baby who tries to walk, and then falls back on his buttocks, to stay there. As if the adults walking past him did not crawl, once
When I started the business, only banks operated at airports, only banks issued travellers' cheques, only banks issued international payments, only banks serviced their own branch networks.
I mean, everyone agrees with stress tests for banks. I mean that's clear. But banks should do that on their own. And they should worry about their own capital functioning. That's what they should do. It shouldn't be a government function.
Some banks won’t make it. Other banks are going to make sure that we strengthen. All deposits are going to be safe for ordinary people, but we’re going to have to bring out some of these bad assets.
When I was a young actor, I just didn’t understand how to function in this business as an artist. It is a business, it’s called the film business for a reason, there’s money involved ... But on the flip side, now I do not let the business side of it rule either. It’s a balance.
I maintain that I have been a Negro three times--a Negro baby, a Negro girl and a Negro woman. Still, if you have received no clear cut impression of what the Negro in America is like, then you are in the same place with me. There is no The Negro here. Our lives are so diversified, internal attitudes so varied, appearances and capabilities so different, that there is no possible classification so catholic that it will cover us all, except My people! My people!
I say people who feel they must have a faith or religion in order to face life are showing a kind of cowardice, which in any other sphere would be considered contemptible. But when it is in the religious sphere it is thought admirable, and I cannot admire cowardice whatever sphere it is in.
The Negro wants to be everything but himself... He wants to integrate with the white man, but he cannot integrate with himself or with his own kind. The Negro wants to lose his identity because he does not know his own identity.
My own convictions as to negro slavery are strong. It has its evils and abuses...We recognize the negro as God and God's Book and God's Laws, in nature, tell us to recognize him - our inferior, fitted expressly for servitude...You cannot transform the negro into anything one-tenth as useful or as good as what slavery enables them to be.
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