A Quote by Josiah Stamp

The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight-of-hand that was ever invented.

Josiah Stamp

Quote Topics

Astounding Banking Banking System Ever Hand Invented Modern Money Most Nothing Out Perhaps Piece Process System

Quote Author

Josiah Stamp
British - Businessman
June 21, 1880 - April 16, 1941

The modern banking system manufactures money out of nothing.

Josiah Stamp

Dai Vernon, the greatest sleight of hand figure in the history of the art, rarely performed. But he invented magic and had an enormous influence on the whole range of sleight of hand. And so often, the magic he was doing was to fool other magicians.

Ricky Jay

Dai Vernon, the greatest sleight of hand figure in the history of the art, rarely performed. But he invented magic and had an enormous influence on the whole range of sleight of hand. And so often the magic he was doing was to fool other magicians.

Ricky Jay

Repeal the entire Banking Act of 1933, and Austrian School economists will cheer, especially if the current system were replaced by a 100%-reserve competitive banking with no central bank. That banking reform would give us a sound money system, meaning no more business cycle, bailouts, or inflation.

Llewellyn Rockwell

There is nothing left now for us but to get ever deeper and deeper into debt to the banking system in order to provide the increasing amounts of money the nation requires for its expansion and growth.

Frederick Soddy

In the U.S. more than any other place, the banking system is insane. Millions of Americans lost their houses. Because of what? Because of the banking system. This American banking system is also coming to Europe. We can say today that the banks and high financiers run the world.

Costa-Gavras

Money is one of the greatest instruments of freedom ever invented by man. It is money which in existing society opens an astounding range of choice to the poor man, a range greater than that which not many generations ago was open to the wealthy

Friedrich August von Hayek

The judicial system is the most expensive machine ever invented for finding out what happened and what to do about it.

Irving R. Kaufman

The system of idolatry, invented by modern christianity, far surpasses in absurdity anything that we have ever heard of.

Orson Pratt

The system of idolatry, invented by modern christianity, far surpasses in absurdity anything that we have ever heard of

Orson Pratt

Modern mathematics, that most astounding of intellectual creations, has projected the mind's eye through infinite time and the mind's hand into boundless space.

Nicholas Murray Butler

Italy spills over to everything. Italy is a huge banking system. It has been the major banking system in Eastern Europe. It's worked with Austria's banking system. There's all sorts of interplays there. So it's not the PIIGS one should worry about. Germany hasn't even begun falling yet. And when Germany falls, and it will, that's when the panic begins to set in.

George Friedman

They [political leaders ] thought the only problem was the banking system, and if they fixed the banking system, all would be fine. But the banking system and the mortgage problem were symptomatic of some deeper problems, and evidently they still haven't recognized those deeper problems.

Joseph Stiglitz

By means of the banking system the distribution of capital as a special business, a social function, is taken out of the hands of the private capitalists and usurers. But at the same time, banking and credit become the most effective means of driving captialist production beyond its own limits and one of the most effective vehicles of crises and swindle.