Money and Banking

"As well as repudiating the Mississippi Union Bank bonds in 1840, the state effectively repudiated the debts owed to the state banks."

Securitization is a financial technique that permits the exchange of relatively nonmarketable credit claims for liquidities.

Eventually, every aspect of productive life will be so controlled that capitalist drive and ingenuity will become relics of the past.

Most people would admit to hoarding money only with a tinge of guilt, because to be a hoarder carries with it the suggestion of being a miser—a Scrooge. And yet, every participant in an economy based on indirect exchange holds some amount of money and can be said to be hoarding it; that is, declining to spend it. Hoarding is a strategy for achieving personal goals or for dealing with economic uncertainty.

It makes no sense to say that the major dislocations of the world's economies in the 1930s could have been solved simply by printing up pieces of paper.

"A fall in normal credit (i.e., credit that has an original lender) doesn't alter the money supply and hence has nothing to do with deflation."

India's ancient and deep religious traditions, combined with a plethora of historical, cultural, and practical reasons, have fostered an unflinching desire to acquire gold as a means of protecting one's wealth.

it needs to be noted that the hypothesis of the superneutrality of money is expressive of the empiricist-positivist approach of modelling economics according to the natural sciences.

Fiat money takes this power out of his hands. The consequence is a greater tendency for capital to be wasted.

"Instead of buying up toxic assets, the TARP money was used to partially nationalize the banking industry."