A Quote by James Rickards

Derivatives serve practically no purpose except to enrich bankers through opaque pricing and to deceive investors through off-the-balance-sheet accounting.

James Rickards

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Accounting Balance Bankers Deceive Derivatives Enrich Except Investors Off Opaque Practically Pricing Purpose Serve Sheet Through

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James Rickards
American - Author

In both the U.S. and Europe, the budget and balance sheet numbers do not work. When 'off-balance sheet' promises are taken into account, the U.S. and most countries of the Euro zone are insolvent.

Paul Singer

Everyone caved, adopted loose [accounting] standards, and created exotic derivatives linked to theoretical models. As a result, all kinds of earnings, blessed by accountants, are not really being earned. When you reach for the money, it melts away. It was never there. It [accounting for derivatives] is just disgusting. It is a sewer, and if I'm right, there will be hell to pay in due course. All of you will have to prepare to deal with a blow-up of derivative books.

Charlie Munger

Baker has done it again! Building on the core principles that he advanced in Professional's Guide to Value Pricing and The Firm of the Future, Ron Baker has again evolved thought leadership on the critical dynamics of value and pricing. Baker's latest work, Pricing on Purpose: Creating and Capturing Value, provides real-world examples and practical strategies that provide a framework for pricing optimization. His clarity of purpose and passionate call to action resonates in today's intellectual capital economy.

Thomas Finneran

Late 19th-century populists saw bankers and industrialists manipulating markets to enrich themselves at the expense of small farmers and labourers and favoured political candidates promising economic relief through free and unlimited coinage of silver.

Robert Dallek

You know, a balance-sheet is like a bikini, it shows more but it hides what is vital. I learnt to read a balance sheet and then I got fascinated by stocks.

Rakesh Jhunjhunwala

The pricing of a pharmaceutical product is opaque and frustrating, especially for patients.

Heather Bresch

This is our 40th year in business. We don't have a single penny from outside investors, and we never borrowed heavily from the banks. We have a healthy balance sheet and more credit than we can use.

Andrew Cherng

O Virgin most holy, none abounds in the knowledge of God except through thee; none, O Mother of God, obtains salvation except through thee, none receives a gift from the throne of mercy except through thee.

Pope Leo XIII

When economists speak of money, they neglect that all money and credit is debt. That is the essence of bookkeeping and accounting. There are always two sides to the balance sheet. And one party’s money or savings is another party

Michael Hudson

The Illuminati bankers rule the world through debt, which is money they create out of nothing. They need world government to ensure no country defaults or tries to overthrow them. As long as private bankers, instead of governments, create money the human race is doomed. These bankers and their allies have bought everything and everyone.

Henry Makow

The activists play the balance sheet by selling a division to buy back stock and leveraging the balance sheet and buying back more stock.

Nelson Peltz

Certain guys are different. A guy like Marshawn Lynch, he's more of a running through a guy. Mine is to get a guy off balance and going through an arm tackle, go through a shoulder, those types of things. Get them going one way and try to hit the other side.

LeSean McCoy

To say accounting for derivatives is Americais a sewer is an insult to sewage.

Charlie Munger

To minimize market uncertainty and achieve the maximum effect of its policies, the Federal Reserve is committed to providing the public as much information as possible about the uses of its balance sheet, plans regarding future uses of its balance sheet, and the criteria on which the relevant decisions are based.

Ben Bernanke

German writings attain popularity through a great name, or through personalities, or through good connections, or through effort,or through moderate immorality, or through accomplished incomprehensibility, or through harmonious platitude, or through versatile boredom, or through constant striving after the absolute.

Karl Wilhelm Friedrich Schlegel

It is good that the window should be transparent, because the street or garden beyond it is opaque. How if you saw through the garden too? It is no use trying to 'see through' [everything]. If you see through everything, then everything is transparent. But a wholly transparent world is an invisible world. To 'see through' all things is the same as not to see.

C. S. Lewis

A Quote by James Rickards

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