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Should government refrain from regulation (taxation), the worthlessness of the money becomes apparent and the fraud can no longer be concealed.

John Maynard Keynes

Investing is an activity of forecasting the yield over the life of the asset; speculation is the activity of forecasting the psychology of the market.
JOHN MAYNARD KEYNES

Forecast Investment Marketing Prediction Speculation
How long will it be necessary to pay City men so entirely out of proportion to what other servants of society commonly receive for performing social services not less useful or difficult?
JOHN MAYNARD KEYNES

Difficult Necessary Pay Performance Service
Dangerous acts can be done safely in a community which thinks and feels rightly, which would be the way to hell if they were executed by those who think and feel wrongly.
JOHN MAYNARD KEYNES

Act Dangerous Feeling Hell Thinking Wrong
A speculator is one who runs risks of which he is aware and an investor is one who runs risks of which he is unaware.
JOHN MAYNARD KEYNES

Aware Himself Investor Risk Run
Morally and philosophically I find myself in agreement with virtually the whole of it: and not only in agreement with it, but in deeply moved agreement.
JOHN MAYNARD KEYNES

Agreement Move Philosophy Virtual
A sound banker, alas, is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional way along with his fellows, so that no one can really blame him.
JOHN MAYNARD KEYNES

Avoid Bank Blame Dangerous Himself Ruin Sound
All production is for the purpose of ultimately satisfying a consumer.
JOHN MAYNARD KEYNES

Consumer Purpose Satisfaction
The key to selecting the winner isn’t choosing the face you think is the most beautiful but rather the face other people will pick
JOHN MAYNARD KEYNES

Face People Selection Thinking Winner
The avoidance of taxes is the only intellectual pursuit that still carries any reward.
JOHN MAYNARD KEYNES

Avoid Carry Intellectual Reward Tax
I believe that the future will learn more from the spirit of Gesell than from that of Marx .
JOHN MAYNARD KEYNES

Believe Future Learning Myself
It has been pointed out already that no knowledge of probabilities, less in degree than certainty, helps us to know what conclusions are true, and that there is no direct relation between the truth of a proposition and its probability. Probability begins and ends with probability.
JOHN MAYNARD KEYNES

Direct Knowledge Point Probability True
There is no harm in being sometimes wrong – especially if one is promptly found out.
JOHN MAYNARD KEYNES

Finding Harm Oneself Wrong
But the dreams of designing diplomats do not always prosper, and we must trust the future .
JOHN MAYNARD KEYNES

Design Dream Future Prosper Trust
The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is generally understood. Indeed, the world is ruled by little else.
JOHN MAYNARD KEYNES

Easy Economist Ideas Politics Rule World
The love of money as a possession. Will be recognised for what it is, a somewhat disgusting morbidity.
JOHN MAYNARD KEYNES

Disgusting Love Money Possession Recognition
The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.
JOHN MAYNARD KEYNES

Envelope Future Ignorance Object Ourselves Skills Social

Should government refrain from regulation (taxation), the worthlessness of the money becomes apparent and the fraud can no longer be concealed.

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Should government refrain from regulation (taxation), the worthlessness of the money becomes apparent and the fraud can no longer be concealed.

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