Sign in with Facebook
“The only intelligent tactical response to life’s horror is to laugh defiantly at it”
―
―
“There are wolves hiding in the gray flock that is - characters who still know what freedom is. Moreover, these wolves are not only strong in themselves; there is also the danger that one fine morning they will transmit their characteristics to the masses, so that the flock turns into a pack. This is a ruler's nightmare.”
―
―
“History is the footsteps of free men towards destiny.”
―
―
“Thus, a good man, though a slave, is free; but a wicked man, though a king, is a slave. For he serves, not one man alone, but what is worse, as many masters as he has vices.”
― City of God
― City of God
“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.”
― Debt: The First 5,000 Years
― Debt: The First 5,000 Years
Zach’s 2024 Year in Books
Take a look at Zach’s Year in Books, including some fun facts about their reading.
Favorite Genres
Polls voted on by Zach
Lists liked by Zach
