Read through the most famous quotes by topic #banking
The trouble is, nobody knows exactly how the world really works. We are all fallible people with limited knowledge. It is only through Biblical revelation from the One who knows how the world really works because He made it and actively sustains it that anyone can come to a competent understanding of the world. ↗
My innovation involved taking an idea from the telecommunications and banking industries, and applying that idea to transportation business. ↗
In fact this is precisely the logic on which the Bank of England—the first successful modern central bank—was originally founded. In 1694, a consortium of English bankers made a loan of £1,200,000 to the king. In return they received a royal monopoly on the issuance of banknotes. What this meant in practice was they had the right to advance IOUs for a portion of the money the king now owed them to any inhabitant of the kingdom willing to borrow from them, or willing to deposit their own money in the bank—in effect, to circulate or "monetize" the newly created royal debt. This was a great deal for the bankers (they got to charge the king 8 percent annual interest for the original loan and simultaneously charge interest on the same money to the clients who borrowed it) , but it only worked as long as the original loan remained outstanding. To this day, this loan has never been paid back. It cannot be. If it ever were, the entire monetary system of Great Britain would cease to exist. ↗
The public has lost faith in the ability of Social Security and Medicare to provide for old age. They've lost faith in the banking system and in conventional medical insurance. ↗
