Investing Quote by Albert Pike
““When the thirst for wealth becomes general, it will be sought for as well dishonestly as honestly; by frauds and overreachings, by the knaveries of trade, the heartlessness of greedy speculation, by gambling in stocks and commodities that soon demoralizes a whole community. Men will speculate upon the needs of their neighbors and the distresses of their country. Bubbles that, bursting, impoverish multitudes, will be blown up by cunning knavery, with stupid credulity as its assistants and instrument. Huge bankruptcies, that startle a country like the earth-quakes, and are more fatal, fraudulent assignments, engulfment of the savings of the poor, expansions and collapses of the currency, the crash of banks, the depreciation of Government securities, prey on the savings of self-denial, and trouble with their depredations the first nourishment of infancy and the last sands of life, and fill with inmates the churchyards and lunatic asylums.””
About This Quote
Source Speech: Lecture on Economic Morality, 1860
Widespread greed leads to dishonest wealth pursuits, causing financial crises and societal harm.
In simple terms: Greed creates fraud and crashes.
Key Takeaway
Beware collective greed and its fallout.
Themes
greed
economics
ethics
societal impact
Mood
cautionary
somber
Type
political
economic
historical
When to use this quote
- investment decisions
- policy making
- public education
- regulatory reform
Key Concepts
financial bubbles
speculation
corruption
Questions to Reflect On
- How can societies curb speculative excess?
- What safeguards protect vulnerable savers?
A Different Perspective
Not all wealth seekers act dishonestly; some pursue responsibly.
