Posts Tagged ‘engine’

“Commercial banks operated on sound classical principles. It’s a different story these days. Central banks and commercial banks are essentially Ponzi schemes, and engines of inflation. It’s a major reason the rich are getting richer—which is OK, except that today it’s at the expense of the middle class.” -Doug Casey

Banks are the growth engine of an economy. They make loans to fund new businesses, construction, and consumer spending. And they collect the ‘spread’ between what the short-term rates pay to borrow and the long-term rates they earn when they lend.” -Porter Stansberry