Quotes about repayment (10 quotes) | Quotes of famous people

“The central idea is that government fiscal policy, its spending and taxing, its borrowing and repayment of loans, its issue of new money and withdrawal of money, shall be undertaken with an eye only to the results of these actions on the economy and not to any established traditional doctrine what is sound and what is unsound …Government should adjust its rates of expenditure and taxation such that total spending is neither more or less than that which is sufficient to purchase the full employment level of output at current prices. If this means there is deficit, greater borrowing, "printing money," etc., then these things in themselves are neither good or bad, they are simply the means to the desired ends of full employment and price stability.”

Abba Lerner (1903–1982) American economist

On Functional Finance: (1943, pg.354) http://papers.ssrn.com/sol3/papers.cfm?abstract_id=174849

Money , Idea

“Never lend if you need repayment; never give where you want a return.”

Lindsey Davis (1949) English novelist

Source: The Course of Honor

“The art and mystery of banks… is established on the principle that 'private debts are a public blessing.' That the evidences of those private debts, called bank notes, become active capital, and aliment the whole commerce, manufactures, and agriculture of the United States. Here are a set of people, for instance, who have bestowed on us the great blessing of running in our debt about two hundred millions of dollars, without our knowing who they are, where they are, or what property they have to pay this debt when called on; nay, who have made us so sensible of the blessings of letting them run in our debt, that we have exempted them by law from the repayment of these debts beyond a give proportion (generally estimated at one-third). And to fill up the measure of blessing, instead of paying, they receive an interest on what they owe from those to whom they owe; for all the notes, or evidences of what they owe, which we see in circulation, have been lent to somebody on an interest which is levied again on us through the medium of commerce. And they are so ready still to deal out their liberalities to us, that they are now willing to let themselves run in our debt ninety millions more, on our paying them the same premium of six or eight per cent interest, and on the same legal exemption from the repayment of more than thirty millions of the debt, when it shall be called for.”

Thomas Jefferson (1743–1826) 3rd President of the United States of America

ME 13:420
1810s, Letters to John Wayles Eppes (1813)

People , Law , Art

“We know that the enemies of our civilization and of Arab-Muslim civilization have emerged from what is actually a root cause. The root cause is the political slum of client states from Saudi Arabia through Iraq, Pakistan and elsewhere, that has been allowed to dominate the region under U. S. patronage, and uses people and resources as if they were a gas station with a few flyblown attendants. To the extent that this policy, this mentality, has now changed in the administration, to the extent that their review of that is sincere and the conclusions that they draw from it are sincere, I think that should be welcomed. It's a big improvement to be intervening in Iraq against Saddam Hussein instead of in his favor. I think it makes a nice change. It's a regime change for us too. Now I'll state what I think is gonna happen. I've been in London and Washington a lot lately and all I can tell you is that the spokesmen for Mr. Blair and Mr. Bush walk around with a look of extraordinary confidence on their faces, as if they know something that when disclosed, will dissolve the doubts, the informational doubts at any rate, of people who wonder if there is enough evidence. [Mark Danner: It's amazing they've been able to keep it to themselves for so long. ] I simply say, I have two reasons for confidence. I know perfectly well that there are many people who would not be persuaded by this evidence even if it was dumped on their own doorstep, because the same people, many of the same people, didn't believe that it was worth fighting in Afghanistan even though the connection between the Taliban and Al Qaeda was as clear as could possibly be. So I know that. There's a strong faction of the so-called peace movement that is immune to evidence and also incapable of self criticism, of imagining what these countries would be like if the advice of the peaceniks has been followed. I also made some inquiries of my own, and I think I know what some of these disclosures will be. But, as a matter of fact I think we know enough. And what will happen will be this: The President will give an order, there will then occur in Iraq a show of military force like nothing probably the world has ever seen. It will be rapid and accurate and overwhelming enough to deal with an army or a country many times the size of Iraq, even if that country possessed what Iraq does not, armed forces in the command structure willing to obey and be the last to die for the supreme leader. And that will be greeted by the majority of Iraqi people and Kurdish people as a moment of emancipation, which will be a pleasure to see, and then the hard work of the reconstitution of Iraqi society and the repayment of our debt — some part of our debt to them — can begin. And I say, bring it on.”

Christopher Hitchens (1949–2011) British American author and journalist

"How Should We Use Our Power: A Debate on Iraq" http://www.commonwealthclub.org/archive/03/03-01hitchensdanner-qa.html with Mark Danner at UC Berkeley (2003-01-28}: On the 2003 invasion of Iraq
2000s, 2003

People , Pleasure , World , Peace

“The non-institutional elements of Bretton Woods, such as the gold-backed dollar standard, have gone by the wayside, but the World Bank and the IMF soldier on… Western governments tax their citizens to fund the World Bank, lend this money to corrupt Third World dictators who abscond with the funds, and then demand repayment which is extracted through taxation from poor Third World citizens, rather than from the government officials responsible for the embezzlement. It is in essence a global transfer of wealth from the poor to the rich. Taxpayers around the world are forced to subsidize the lavish lifestyles of Third World dictators and highly-paid World Bank bureaucrats who don't even pay income tax.”

Ron Paul (1935) American politician and physician

World Bank Hearing, May 22, 2007 http://www.house.gov/paul/congrec/congrec2007/cr052307.htm http://www.youtube.com/watch?v=qNZdba8hDDY
2000s, 2006-2009

Money , World , Wealth

“You cannot imagine how taxation has increased. Yet everyone is afraid to complain about it. The new State loans are nothing but confiscation of private property, because no one believes that the Government will ever make repayment, not even pay interest after the first few years.”

Günter Reimann (1904–2005) German economist

Source: The Vampire Economy: Doing Business Under Fascism, 2014, p. 7 (letter from a German businessman)

Imagination

“As he went through the half-darkness of the lamp-lit streets, deserted almost entirely at this hour, he brooded over his hard luck. What chance had he ever been given? Raught, for that matter, like many another in case like his, was far from grasping fully how bad his luck had been, how little the chance that life had offered. Neglect and harshness had marked him in infancy; there had been nothing at any time to tell against the effect of them. But in all of the past that he remembered and could understand there had been more than enough to be stored up as matter for savage resentment, for the soul-sick criminal's conviction that he owes the world no more than such repayment as he can make in its own coin.”

Edmund Clerihew Bentley book Trent's Own Case

Source: Trent's Own Case (1936), Chapter XVII: "Fine Body of Men"

Life , World , Soul , Understanding