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Debt: The First 5...
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Terry Pratchett
“That's the way it was. Privilege, which just means 'private law.' Two types of people laugh at the law; those that break it and those that make it.”
― Terry Pratchett, Night Watch

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

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

Caitlin Moran
“Because I haven't yet learned the simplest and most important thing of all: the world is difficult, and we are all breakable. So just be kind.”
― Caitlin Moran, How to Build a Girl

David Graeber
“In this sense, the value of a unit of currency is not the measure of the value of an object, but the measure of one’s trust in other human beings.”
― David Graeber, Debt: The First 5,000 Years

12605 Richard III — 491 members — last activity May 02, 2020 08:31AM
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For those who love a good cozy mystery while curled up on the couch with a cup of coffee/tea/cocoa and maybe a dog/cat next to them. Please be kind ...more
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