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If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.

John Maynard Keynes

By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
JOHN MAYNARD KEYNES

Citizenship Important Inflation Process Secret
The businessman is only tolerable so long as his gains can be held to bear some relation to what, roughly and in some sense, his activities have contributed to society.
JOHN MAYNARD KEYNES

Business Contribute Himself Man Society Tolerance
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
The expected never happens; it is the unexpected always.
JOHN MAYNARD KEYNES

Expectation Inspirational Miracle Motivational
Most men love money and security more, and creation and construction less, as they get older.
JOHN MAYNARD KEYNES

Construction Love Man Money Old Security
It’s not bringing in the new ideas that’s so hard; it’s getting rid of the old ones.
JOHN MAYNARD KEYNES

Hard Ideas Old Oneself
There is no intrinsic reason for the scarcity of capital.
JOHN MAYNARD KEYNES

Capital Reason Scarcity
If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.
JOHN MAYNARD KEYNES

Bank Problem Wealth Yourself
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
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

Art Finance Hospitality Ideas International Knowledge National Possible
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

Essence Investor Opinion Practice Willing
Long run is a misleading guide to current affairs. In the long run we are all dead.
JOHN MAYNARD KEYNES

Affair Death Guide
The disruptive powers of excessive national fecundity may have played a greater part in bursting the bonds of convention than either the power of ideas or the errors of autocracy.
JOHN MAYNARD KEYNES

Error Excessive Ideas National Power
Americans are apt to be unduly interested in discovering what average opinion believes average opinion to be.
JOHN MAYNARD KEYNES

Average Believe Discover Interest Opinion
To suggest social action for the public good to the city London is like discussing The Origin of Species to a Bishop sixty years ago.
JOHN MAYNARD KEYNES

Action Discussion Origin Public Social
The engine which drives enterprise is not thrift, but profit.
JOHN MAYNARD KEYNES

Drive Profit Thrift

If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.

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If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.

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