"Then came the second Amsterdam discovery, although the……" — John Kenneth Galbraith

"Then came the second Amsterdam discovery, although the principle was known elsewhere. Bank deposits...did not need to be left idly in the bank. They could be lent. The bank then got interest. The borrower then had a deposit that he could spend. But the original deposit still stood to the credit of the original depositor. That too could be spent. Money, spendable money, had been created. Let no one rub his or her eyes. It's still being done-every day. The creation of money by a bank is as simple as this, so simple, I've often said, that the mind is slightly repelled."

— John Kenneth Galbraith

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286 Quotes by John Kenneth Galbraith

John Kenneth Galbraith has 286 quotes on this site. A few more worth reading:

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More Amsterdam Quotes

This quote is filed under Amsterdam Quotes, one of 48 quotes in that category. Here are a few more:

Amsterdam has more than 150 canals and 1,250 bridges, but it never seems crowded, nor bent and bitter from fleecing… — Julie Burchill
And call me a pig, but isn't it brilliantly refreshing how early the Dutch eat dinner? When they're still laying… — Julie Burchill
I just got back from Switzerland, which I've never been to. I went to Switzerland and Amsterdam. — Linda Cardellini
My man slangs rocks like up the block, 143RD and Amsterdam by the smoke shop — Redman
We are men on a budget. I mean, why go all the way to Amsterdam when you can just go… — Anthony Langston
Quiet, moving, masterfully crafted. Such are the nine stories in Venus in the Afternoon. Tehila Lieberman writes with precision, restraint,… — Unknown Author
Amsterdam was a great surprise to me. I had always thought of Venice as the city of canals; it had… — James Weldon Johnson
I know that I am very popular in Holland, in fact I have visited Amsterdam several times to publicize my… — Jackie Collins
The Annex is an ideal place to hide in. It may be damp and lopsided, but there's probably not a… — Anne Frank
I still have agents in France, Los Angeles and Amsterdam who call and suggest parts. I'd love to keep on… — Sylvia Kristel
In Amsterdam, the river and canals have been central to city life for the last four centuries, — Janet Echelman
In 1996, the players at the VSB tournament in Amsterdam sent me a card for my wedding with this dedication,… — Viswanathan Anand

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