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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

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

Desire Glory Love Nation Yourself
I am myself impressed by the great social advantages of increasing the stock of capital until it ceases to be scarce.
JOHN MAYNARD KEYNES

Advantage Greatness Impression Scarce Social Stock
Everything is always decided for reasons other than the real merits of the case.
JOHN MAYNARD KEYNES

Case Decision Reality Reason
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
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
Education: the inculcation of the incomprehensible into the indifferent by the incompetent.
JOHN MAYNARD KEYNES

Different Education Incompetent
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
I was suffering from my chronic delusion that one good share is safer than ten bad ones, and I am always forgetting that hardly anyone else shares this particular delusion.
JOHN MAYNARD KEYNES

Delusion Forget Goodness Suffering
When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done.
JOHN MAYNARD KEYNES

Activity Country Development Job
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

Change Farm Raining Season Stock Summer
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
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.
JOHN MAYNARD KEYNES

Finding Hands Invisible Myself Solution Trying
Experience shows that what happens is always the thing against which one has not made provision in advance.
JOHN MAYNARD KEYNES

Advance Experience Provision
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
The expected never happens; it is the unexpected always.
JOHN MAYNARD KEYNES

Expectation Inspirational Miracle Motivational
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

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.

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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.

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