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Debt: The First 5...
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Patti Smith
“The light poured through the windows upon his photographs and the poem of us sitting together a last time. Robert dying: creating silence. Myself, destined to live, listening closely to a silence that would take a lifetime to express.”
Patti Smith, Just Kids

David Graeber
“If history shows anything, it is that there's no better way to justify relations founded on violence, to make such relations seem moral, than by reframing them in the language of debt—above all, because it immediately makes it seem that it's the victim who's doing something wrong.”
David Graeber, Debt: The First 5,000 Years

David Graeber
“In fact this is precisely the logic on which the Bank of England—the first successful modern central bank—was originally founded. In 1694, a consortium of English bankers made a loan of £1,200,000 to the king. In return they received a royal monopoly on the issuance of banknotes. What this meant in practice was they had the right to advance IOUs for a portion of the money the king now owed them to any inhabitant of the kingdom willing to borrow from them, or willing to deposit their own money in the bank—in effect, to circulate or "monetize" the newly created royal debt. This was a great deal for the bankers (they got to charge the king 8 percent annual interest for the original loan and simultaneously charge interest on the same money to the clients who borrowed it) , but it only worked as long as the original loan remained outstanding. To this day, this loan has never been paid back. It cannot be. If it ever were, the entire monetary system of Great Britain would cease to exist.”
David Graeber, Debt: The First 5,000 Years

Elena Ferrante
“Everything in the world was in precarious balance, pure risk, and those who didn’t agree to take the risk wasted away in a corner, without getting to know life.”
Elena Ferrante, The Story of a New Name

Patti Smith
“Both of them were ahead of their time, but they didn't live long enough to see the time they were ahead of.”
Patti Smith, Just Kids

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