“By this means (fractional reserve banking) government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.”

It is generally agreed that casinos should, in the public interest, be inaccessible and expensive. And perhaps the same is true of Stock Exchanges.

There is no harm in being sometimes wrong – especially if one is promptly found out.

Government machinery has been described as a marvelous labor saving device which enables ten men to do the work of one.

I conceive, therefore, that a somewhat comprehensive socialisation of investment will prove the means of securing an approximation to full employment.

The friends of gold will have to be extremely wise and moderate if they are to avoid a revolution.

Successful investing is anticipating the anticipations of others.

Logic , like lyrical poetry , is no employment for the middle-aged.

The atomic hypothesis which had worked so splendidly in Physics breaks down in Psychics.

It is Enterprise which build and improves the world’s possessions. If Enterprise is afoot, Wealth accumulates whatever may be happening to Thrift; and if Enterprise is asleep, Wealth decays, whatever Thrift may be doing.

Perhaps it is historically true that no order of society ever perishes save by its own hand.

The importance of money flows from it being a link between the present and the future.

The glory of the nation you love is a desirable end, – but generally to be obtained at your neighbor’s expense.

The decadent international but individualistic capitalism in the hands of which we found ourselves after the war is not a success. It is not intelligent. It is not beautiful. It is not just. It is not virtuous. And it doesn’t deliver the goods.

The idea behind stamped money is sound.

An investor who proposes to ignore near-term market fluctuations needs greater resources for safety and must not operate on so large a scale, if at all, with borrowed money.

I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago.