Quote of April 2011
On 01-04-2011, in Quote of the month, by steve
Banking establishments are more dangerous than standing armies.
Thomas Jefferson (1799)
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On 01-04-2011, in Quote of the month, by steve
Banking establishments are more dangerous than standing armies.
Thomas Jefferson (1799)
And here is a similar quote from Mervyn King, Governor of the Bank of England, in March 2009:-
” Banks are dangeous institutions. They borrow short and lend long. They create liabilties which promise to be liquid and hold few liquid assets themselves….”