A Quote by Steve Eisman
Daniel Tarullo has more power of the U.S. banking system than anybody since Alexander Hamilton. That's not an exaggeration, by the way.
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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.
American money was never more sound, or banking more free, than 200 years ago. Since then, it's been a long steady decline from the gold standard and competitive banking to our Fed-run system of inflated paper currency, deposit insurance, and perpetually shaky banks on the dole.
He smote the rock of the national resources, and abundant streams of revenue gushed forth. He touched the dead corpse of the Public Credit, and it sprung upon its feet. The fabled birth of Minerva, from the brain of Jove, was hardly more sudden or more perfect than the financial system of the United States, as it burst forth from the conceptions of Alexander Hamilton.
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.
I've got to say our banking system is a safe and a sound one. And since the days when we've had federal deposit insurance in place, we haven't had a depositor who's got less than $100,000 in an account lose a penny. So the American people can be very, very confident about their accounts in our banking system.
I'm sure there are many more people who can identify with failure and hardship in life than with the success of an Alexander Hamilton or a John D. Rockefeller.
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.
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.
And when the book of Daniel was showed to him (Alexander the Great) wherein Daniel declared that one of the Greeks should destroy the empire of the Persians, he supposed that himself was the person intended.
The story of Alexander Hamilton lends itself to hip-hop treatment. Hamilton's personality is driven and unrelenting, and the music has that same quality. The music and the man mirror each other.
Alexander Hamilton has been on the $10 since 1928, he's been well honored by the country, he was a great Secretary of the Treasury. But of all the people on the currency, the only one who isn't a president.
It's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation.
Alexander Hamilton originated the put and take system in our national treasury: the taxpayers put it in, and the politicians take it out
The Chinese banking system is built on quicksand and that's the one thing a lot of people don't realize. Everybody seems to think it is a free and clear open checkbook. It's not. The banking system in China is extremely fragile.
The Chinese banking system is built on quicksand and that's the one thing a lot of people don't realize. [...] Everybody seems to think it is a free and clear open checkbook. It's not. [...] The banking system in China is extremely fragile.
As we look at the chapters of Daniel, we recognize that the words of Daniel 1:21 ring true today: "Thus Daniel continued...." Daniel continued through a culture unlike his own; one that lost its way. Today, you and I are living in a culture that's losing its way. It's good to know that just as in Daniel's day, God is looking for men and women of integrity to help confront in love a culture that's losing its way and to point it back to him.
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