--- title: "4 Bankers Quotes By Michael Hudson" description: "4 Bankers quotes by Michael Hudson. Plus more from Michael Hudson and more Bankers sayings from other authors." image: "https://sms4smile.com/quotes/i/1c5/michael-hudson-2134_bankers_europe-s-war-against-debtor-countries-wa_679136.jpg" --- > [“Europe’s war against debtor countries was turning into class war, which always ends up being waged on the political battlefield. One financial…](https://sms4smile.com/quotes/michael-hudson/europe-s-war-against-debtor-countries-was-turning-into-class-war/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) [Image](https://sms4smile.com/quotes/i/1c5/michael-hudson-2134_bankers_europe-s-war-against-debtor-countries-wa_679136.jpg) > [If bankers can push the loans and make more profits for the bank, they get paid higher bonuses. They often also get…](https://sms4smile.com/quotes/michael-hudson/if-bankers-can-push-the-loans-and-make-more-profits-for-the-bank-they/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) [Image](https://sms4smile.com/quotes/i/e4b/michael-hudson-2134_bail_if-bankers-can-push-the-loans-and-make-m_1851308.png) > [When you say "bank," a bank is a building, a set of computers and chairs and things. The bankers are the people…](https://sms4smile.com/quotes/michael-hudson/when-you-say-bank-a-bank-is-a-building-a-set-of-computers-and-chairs/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) [Image](https://sms4smile.com/quotes/i/1a0/michael-hudson-2134_bank_when-you-say-bank-a-bank-is-a-building-a_2289652.png) > [I think we're in the take-the-money-and-run stage of the economy. So the banks may go under, but the bankers, who make the…](https://sms4smile.com/quotes/michael-hudson/i-think-we-re-in-the-take-the-money-and-run-stage-of-the-economy-so/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) [Image](https://sms4smile.com/quotes/i/ff7/michael-hudson-2134_bankers_i-think-we-re-in-the-take-the-money-and_2996525.png) ## Other authors on Bankers - [ ![](https://sms4smile.com/quotes/wp-content/uploads/sms4s/authors/processed/b024/author-will-rogers-95078.jpg) Will Rogers 6 quotes ](https://sms4smile.com/quotes/about/bankers/will-rogers/) - [ ![](https://sms4smile.com/quotes/wp-content/uploads/sms4s/authors/processed/b018/author-nassim-nicholas-taleb-70256.jpg) Nassim Nicholas Taleb 6 quotes ](https://sms4smile.com/quotes/about/bankers/nassim-nicholas-taleb/) - [ ![](https://sms4smile.com/quotes/wp-content/uploads/sms4s/authors/processed/b016/author-louis-thomas-mcfadden-61450.jpg) Louis Thomas McFadden 5 quotes ](https://sms4smile.com/quotes/about/bankers/louis-thomas-mcfadden/) - [ ![](https://sms4smile.com/quotes/wp-content/uploads/sms4s/authors/processed/b014/author-josiah-stamp-53714.jpg) Josiah Stamp 5 quotes ](https://sms4smile.com/quotes/about/bankers/josiah-stamp/) - [ ![](https://sms4smile.com/quotes/wp-content/uploads/sms4s/authors/processed/b013/author-john-maynard-keynes-51905.jpg) John Maynard Keynes 5 quotes ](https://sms4smile.com/quotes/about/bankers/john-maynard-keynes/) - [ ![](https://sms4smile.com/quotes/wp-content/uploads/sms4s/authors/processed/b007/author-david-rockefeller-27896.jpg) David Rockefeller 5 quotes ](https://sms4smile.com/quotes/about/bankers/david-rockefeller/) - [ ![](https://sms4smile.com/quotes/wp-content/uploads/sms4s/authors/processed/b006/author-carroll-quigley-21423.jpg) Carroll Quigley 5 quotes ](https://sms4smile.com/quotes/about/bankers/carroll-quigley/) - [Abraham Lincoln 5 quotes](https://sms4smile.com/quotes/about/bankers/abraham-lincoln/) ## More by Michael Hudson > [Europe is creating the flight of refugees that's tearing it apart politically, and leading rightwing nationalist parties to gain power to withdraw from the…](https://sms4smile.com/quotes/michael-hudson/europe-is-creating-the-flight-of-refugees-that-s-tearing-it-apart/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [This is not really currency that circulates. It's like the old joke about expensive vintage wine. Wine prices will go up and once in…](https://sms4smile.com/quotes/michael-hudson/this-is-not-really-currency-that-circulates-it-s-like-the-old-joke/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains.](https://sms4smile.com/quotes/michael-hudson/nobody-prefers-to-earn-income-any-more-because-that-s-taxable-rich/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [Nothing could be better for the economy than to get rid of fracking.](https://sms4smile.com/quotes/michael-hudson/nothing-could-be-better-for-the-economy-than-to-get-rid-of-fracking/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [If you end internet neutrality and permit mergers of the big information technology corporations, that's a form of rent seeking. It's part of today's…](https://sms4smile.com/quotes/michael-hudson/if-you-end-internet-neutrality-and-permit-mergers-of-the-big/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [Deflation means a slowdown of income growth. Markets shrink, new capital investment and employment also taper off, so wages decline. That is what's happening…](https://sms4smile.com/quotes/michael-hudson/deflation-means-a-slowdown-of-income-growth-markets-shrink-new/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [What's bad for the frackers usually is good for the rest of the world.](https://sms4smile.com/quotes/michael-hudson/what-s-bad-for-the-frackers-usually-is-good-for-the-rest-of-the-world/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [You could say that the vote to withdraw from Europe is, it's really a vote of the British middle class, the working class, to…](https://sms4smile.com/quotes/michael-hudson/you-could-say-that-the-vote-to-withdraw-from-europe-is-it-s-really-a/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [Actually, high housing prices don't help the economy. They raise the cost of living.](https://sms4smile.com/quotes/michael-hudson/actually-high-housing-prices-don-t-help-the-economy-they-raise-the/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [When economists speak of money, they neglect that all money and credit is debt. That is the essence of bookkeeping and accounting. There are…](https://sms4smile.com/quotes/michael-hudson/when-economists-speak-of-money-they-neglect-that-all-money-and-credit/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [The United States and Europe are in a state of debt deflation, where people and businesses have to pay banks instead of spending their…](https://sms4smile.com/quotes/michael-hudson/the-united-states-and-europe-are-in-a-state-of-debt-deflation-where/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [On the flat tax, the more you compress the tax rates, the more you untax where the income is really made, at the top…](https://sms4smile.com/quotes/michael-hudson/on-the-flat-tax-the-more-you-compress-the-tax-rates-the-more-you/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [Income is sucked upward to the creditors, who then foreclose on the assets of debtors. This shrinks tax revenue, forcing public budgets into deficit.…](https://sms4smile.com/quotes/michael-hudson/income-is-sucked-upward-to-the-creditors-who-then-foreclose-on-the/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [Debtor countries may postpone the inevitable by borrowing from the IMF or U.S. Treasury to buy out bondholders. This saves the latter from taking…](https://sms4smile.com/quotes/michael-hudson/debtor-countries-may-postpone-the-inevitable-by-borrowing-from-the/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [No price is too high to pay to try to make the financial system go on a little bit longer. But ultimately it can't…](https://sms4smile.com/quotes/michael-hudson/no-price-is-too-high-to-pay-to-try-to-make-the-financial-system-go-on/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "ItemList", "@id": "https://sms4smile.com/quotes/about/bankers/michael-hudson/#itemlist", "name": "4 Bankers Quotes By Michael Hudson", "numberOfItems": 4, "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "@type": "Quotation", "text": "“Europe’s war against debtor countries was turning into class war, which always ends up being waged on the political battlefield. One financial analyst noted that the money raised for putting up islands and public buildings, ports and the water system for sale “will barely put a dint in Greece’s now-unpayable public debt.” Creditors simply hoped to take as much as they could, in the absence of public protests to stop the selloffs. That is why bankers resort to anti-democratic methods in opposing any political power independent of creditor interests. The aim is to centralize financial policy in the hands of “technocrats” drawn from the banking sector – not only Lucas Papademos in Greece, but also Mario Monti in Italy almost simultaneously (as described in the next chapter). The fear is that democratically elected officials will act “irresponsibly,” that is, in the interests of the economy at large rather than catering to the demands of banks and bondholders. 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