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.
JOHN MAYNARD KEYNESConservatism leads nowhere; it satisfies no ideal.
More John Maynard Keynes Quotes
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There is no intrinsic reason for the scarcity of capital.
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The treasury could fill old bottles with banknotes and bury them, and leave it to private enterprises on well-tried principles of laissez-faire to dig the notes up again.
JOHN MAYNARD KEYNES -
If you owe your bank manager a thousand pounds, you are at his mercy. If you owe him a million pounds, he is at your mercy.
JOHN MAYNARD KEYNES -
A study of the history of opinion is a necessary preliminary to the emancipation of the mind.
JOHN MAYNARD KEYNES -
It is the long-term investor, who will in practice come in for the most criticism… For it is the essence of his behavior that he should be eccentric, unconventional, and rash in the eyes of average opinion.
JOHN MAYNARD KEYNES -
All production is for the purpose of ultimately satisfying a consumer.
JOHN MAYNARD KEYNES -
But the dreams of designing diplomats do not always prosper, and we must trust the future .
JOHN MAYNARD KEYNES -
As time goes on, I get more and more convinced that the right method of investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes.
JOHN MAYNARD KEYNES -
It would not be foolish to contemplate the possibility of a far greater progress still.
JOHN MAYNARD KEYNES -
Education: the inculcation of the incomprehensible into the indifferent by the incompetent.
JOHN MAYNARD KEYNES -
Perhaps a day might come when there would be at last be enough to go round, and when posterity could enter into the enjoyment of our labors.
JOHN MAYNARD KEYNES -
Markets can remain irrational longer than you can remain solvent.
JOHN MAYNARD KEYNES -
Experience shows that what happens is always the thing against which one has not made provision in advance.
JOHN MAYNARD KEYNES -
When I find new information I change my mind; What do you do?
JOHN MAYNARD KEYNES -
I’d rather be vaguely right than precisely wrong.
JOHN MAYNARD KEYNES -
The forces of the nineteenth century have run their course and are exhausted.
JOHN MAYNARD KEYNES -
If farming were to be organised like the stock market, a farmer would sell his farm in the morning when it was raining, only to buy it back in the afternoon when the sun came out.
JOHN MAYNARD KEYNES -
The introduction of a substantial Government transfer tax on all transactions might prove the most serviceable reform available,with a view to mitigating the predominance of speculation in the United States.
JOHN MAYNARD KEYNES -
If human nature felt no temptation to take a chance there might not be much investment merely as a result of cold calculation.
JOHN MAYNARD KEYNES -
The power to become habituated to his surroundings is a marked characteristic of mankind.
JOHN MAYNARD KEYNES -
Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.
JOHN MAYNARD KEYNES -
The division of the spoils between the victors will also provide employment for a powerful office, whose doorsteps the greedy adventurers and jealous concession hunters of twenty or thirty nations will crowd and defile.
JOHN MAYNARD KEYNES -
Perhaps it is historically true that no order of society ever perishes save by its own hand.
JOHN MAYNARD KEYNES -
Ideas, knowledge, art, hospitality, travel – these are things which should in their nature be international. But let goods be homespun whenever it is reasonably and conveniently possible and above all let finance be primarily national.
JOHN MAYNARD KEYNES -
In truth, the gold standard is already a barbarous relic.
JOHN MAYNARD KEYNES -
Should government refrain from regulation (taxation), the worthlessness of the money becomes apparent and the fraud can no longer be concealed.
JOHN MAYNARD KEYNES