From Wikipedia, the free encyclopedia

Banks may refer to:

• The plural of bank

Placenames

Australia

• Banks, Australian Capital Territory, a suburb of Canberra
• Banks, alternative name for Moa Island, Queensland
• Division of Banks, an electoral district in the Australian House of Representatives, in New South Wales

New Zealand

• Banks Peninsula, South Island

Canada

• Banks Island, one of the Canadian Arctic islands
• Banks Island (British Columbia)
• Banks Peninsula (Nunavut)

United Kingdom

• Banks, Cumbria, a village in England
• Banks, Lancashire, a village in England

United States

• Banks, Alabama
• Banks, Oregon

See also

• Bank (disambiguation)
• Banks (surname), for a list of people with the surname
• Banks Township (disambiguation)
• Banks Beer, popular Barbados-based beer brand
• River bank
• Category:Banks, listing of articles on specific financial companies

This disambiguation page lists articles associated with the same title. If an internal link led you here, you may wish to change the link to point directly to the intended article.

From Wikiquote

Quotes about the business of Banks: institutions where one can place and borrow money and take care of financial affairs.

Sourced

• The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it.
  • John Kenneth Galbraith, Money: Whence it came, where it went (1975), p. 15

• The process by which banks create money is so simple that the mind is repelled.
  • John Kenneth Galbraith, Money: Whence it came, Where it Went p. 29

• The modern banking system manufactures “money” out of nothing; and the process is, perhaps, the most, astounding piece of “sleight of hand” that was ever invented. In fact, is was not invented. It merely “grew”. ... Banks in fact are able to create (and cancel) modern “deposit money”, just as much as they were originally able to create, or call in, their own original forms of private notes. They can, in fact, inflate and deflate, i.e., mint, and un-mint the modern “ledger-entry” currency.
  • Angas, Major L. L. B. (Lawrence Lee Bazley) (1937). Slump ahead in bonds. Somerset Pub. Co.. pp. 20-21. OCLC 3506072.  

• The actual process of money creation takes place in commercial banks. As noted earlier, demand liabilities of commercial banks are money. ... Confidence in these forms of money also seems to be tied in some way to the fact that assets exist on the books of the government and the banks equal to the amount of money outstanding, even though most of the assets themselves are no more than pieces of paper...
  • Federal Reserve Bank of Chicago; Nichols, Dorothy M (1961). Modern Money Mechanics; a workbook on deposits, currency and bank reserves.. p. 3. OCLC 510802.   The 1992 revision of this booklet is available on wikisource

• Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars in accounts on their books in exchange for a borrower's IOU.
  • Federal Reserve Bank of New York; Friedman, David H. (1977). I Bet You Thought.... p. 19. OCLC 5356154.  

• The 12 regional reserve banks aren't government institutions, but corporations nominally 'owned' by member commercial banks.
  • Federal Reserve Bank of New York, I Bet You Thought... (1977), p. 27

• The use of money does not disestablish the normal process of creating credit. Money, it is true, is always being paid into the banks by the retailers and others who receive it in the course of business, and they of course receive bank credits in return for the money thus deposited. But for the manufacturers and others who have to pay money out, credits are still created by the exchange of obligations, the banker's immediate obligation being given to his customer in exchange for the customer's obligation to repay at a future date. We shall still describe this dual operation as the creation of credit. By its means the banker creates the means of payment out of nothing, whereas when he receives a bag of money from his customer, one means of payment, a bank credit, is merely substituted for another, an equal amount of cash.
  • Economist Ralph George Hawtrey, Currency and Credit (1919), p. 20

• And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.
  • Thomas Jefferson, 3rd US President, in a letter to John Taylor in 1816 [1].

• So limited is our knowledge that we resort, not to science, but to shamans. We place control of the world's largest economy in the hands of a few elderly men, the central bankers.
  • Benoît Mandelbrot, The (Mis)Behavior of Markets (2004, 2008), Ch. 13, p. 254–255

• With money every form of intercourse, and intercourse itself, is considered fortuitous for the individuals.
  • Karl Marx in The German Ideology

• The banks do create money. They have been doing it for a long time, but they didn't quite realise it, and they did not admit it. Very few did. You will find it in all sorts of documents, financial textbooks, etc. But in the intervening years, and we must all be perfectly frank about these things, there has been a development of thought, until today I doubt very much whether you would get many prominent bankers to attempt to deny that banks create credit.
  • H. W. White, Chairman of the Associated Banks of New Zealand, to the New Zealand Monetary Commission, 1955.

• But please do not think that I am not fond of banks,
  Because I think they deserve our appreciation and thanks.
  • Ogden Nash. ‘Bankers are Just Like Everybody Else, Except Richer’, The Face is Familiar (1954)

• There is no group of people on the planet more stupid than bankers. They should be called bonkers. Look at the famous banks that are suddenly losing billions, because they handed out loans like lunatics.
  • Michael Winner, English film director and producer. From his interview in The Daily Mail (UK) newspaper, 17th June 2008

Unsourced

• If you were a poor Indian with no weapons, and a bunch of conquistadors came up to you and asked where the gold was, I don't think it would be a good idea to say, 'I swallowed it. So sue me.'
  • Jack Handy

• If you want time to pass quickly, just give a banker your note for ninety days.
  • J. P. Morgan

• I went to the bank and went over my savings. I found out I have all the money that I'll ever need. If I die tomorrow.
  • Henny Youngman

• My girlfriend's father died of throat trouble ... They hung him. He used to work in a bank. But no matter how much the boss likes you, if you work in a bank you can't bring home samples.
  • Eddie Cantor

• One rule which woe betides the banker who fails to heed it ... Never lend any money to anybody unless they don't need it.
  • Ogden Nash

• Anytime four New Yorkers get into a cab together without arguing, a bank robbery has just taken place.
  • Johnny Carson

• I think that not relying too heavily on one bank and one bank manager is a good rule to learn.
  • Richard Branson

• Wall Street’s graveyards are filled with men who were right too soon.
  • William Peter Hamilton

Disputed

• The death of Lincoln was a disaster for Christendom. There was no man in the United States great enough to wear his boots and the bankers went anew to grab the riches. I fear that foreign bankers with their craftiness and tortuous tricks will entirely control the exuberant riches of America and use it to systematically corrupt modern civilization.
  • Sometimes attributed to Otto von Bismarck, German Chancellor (1815-1898). The apparent source of this is a German-American named Conrad Siem (d. 1931), who, in 1915, published recollections of conversations he allegedly had as a youth (about 12 years old) with Bismarck 37 years earlier. Should be treated skeptically. Siem, Conrad (1915). The C.S.L.T.: containing views on Abraham Lincoln as expressed by Bismarck in 1878, from the recollections of Conrad von Bauditz Siem. OCLC 52297724.  

• The bank hath benefit of interest on all moneys which it creates out of nothing.
  • Attributed to William Paterson, founder of the Bank of England. No primary source for this has been found.
    This quote is said to be from the prospectus for the Bank of England, but it does not not appear in A Brief Account of the Intended Bank of England or elsewhere in The Writings of William Paterson. The earliest known appearance is from the 1930s.

• Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take this power away from them, and all the great fortunes disappear, and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create money and control credit.
  • Attributed to Josiah Stamp, "President of the Bank of England and the second richest man in the British Empire". However, Stamp was never President of the Bank of England, though he was on the board of directors, nor does he appear to have ever been anywhere near the second richest man in the British Empire. No primary source for this is known. The earliest source is Silas W. Adams, The Legalized Crime of Banking (1958), who gives no earlier source, only saying "as said in an informal talk to 150 University of Texas history, economics and social science professors, in the 20's". (Stamp died in 1941.) The quote also seems to imply that Stamp made his fortune in banking, which is not true. It is inconsistent with everything Stamp said about banking on the record.

See also

• Money
• Capitalism
• Federal Reserve
• Wall Street

External links

Wikipedia has an article about:

Banking

Look up banking in Wiktionary, the free dictionary

From LoveToKnow 1911

There is more than one meaning of Banks discussed in the 1911 Encyclopedia. We are planning to let all links go to the correct meaning directly, but for now you will have to search it out from the list below by yourself. If you want to change the link that led you here yourself, it would be appreciated.

• George Linnaeus Banks
• Henry William Banks Davis
• Nathaniel Prentiss Banks
• Savings Banks
• Sir Joseph Banks
• Thomas Banks

From Wikispecies

(13.II.1743 - 19.VI.1820)