--- title: "Meaning & Key Takeaway of: Someone has to borrow every dollar we…" description: "\"Someone has to borrow every dollar we have in circulation, cash or credit.\" — Robert W. Hemphill" image: "https://sms4smile.com/quotes/i/da6/robert-w-hemphill-72880_bankers_someone-has-to-borrow-every-dollar-we-ha_1560146.jpg" --- # Someone has to borrow every dollar we have in circulation… ![“Someone has to borrow every dollar we have in circulation, cash or credit.” quote by Robert W. Hemphill](https://sms4smile.com/quotes/i/da6/robert-w-hemphill-72880_bankers_someone-has-to-borrow-every-dollar-we-ha_1560146.jpg) [Download](https://sms4smile.com/quotes/i/da6/robert-w-hemphill-72880_bankers_someone-has-to-borrow-every-dollar-we-ha_1560146.jpg) [Open image](https://sms4smile.com/quotes/i/da6/robert-w-hemphill-72880_bankers_someone-has-to-borrow-every-dollar-we-ha_1560146.jpg) > “Someone has to borrow every dollar we have in circulation, cash or credit.” Robert W. Hemphill ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Every dollar in circulation is effectively borrowed, highlighting the interconnectedness of financial systems. **In simple terms:** Money is borrowed. Key Takeaway Recognize economic interdependence. Themes economics interconnectedness finance Mood analytical serious Type educational philosophical When to use this quote - budget planning - investment decisions - policy discussions - business strategy Key Concepts macro‑economics social theory Questions to Reflect On - How does this view affect your spending? - What responsibilities arise from shared financial resources? A Different Perspective Borrowing can create systemic risk if not managed. ★ ★ ★ ★ ★ No ratings yet [Bankers](https://sms4smile.com/quotes/about/bankers/) [Bankers and banks](https://sms4smile.com/quotes/about/bankers-and-banks/) [Banking](https://sms4smile.com/quotes/about/banking/) [Banking system](https://sms4smile.com/quotes/about/banking-system/) [Central banks](https://sms4smile.com/quotes/about/central-banks/) [Commercial banks](https://sms4smile.com/quotes/about/commercial-banks/) [Credit](https://sms4smile.com/quotes/about/credit/) [Dollars](https://sms4smile.com/quotes/about/dollars/) [Economics](https://sms4smile.com/quotes/about/economics/) [Federal reserve](https://sms4smile.com/quotes/about/federal-reserve/) [Monetary system](https://sms4smile.com/quotes/about/monetary-system/) [Money](https://sms4smile.com/quotes/about/money/) [Usury](https://sms4smile.com/quotes/about/usury/) ## Related quotes > [If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or…](https://sms4smile.com/quotes/robert-w-hemphill/if-all-the-bank-loans-were-paid-no-one-could-have-a-bank-deposit-and/) Robert W. Hemphill > [If all bank loans were paid, there would not be a dollar of coin or currency in circulation. Someone has to borrow every dollar…](https://sms4smile.com/quotes/robert-w-hemphill/if-all-bank-loans-were-paid-there-would-not-be-a-dollar-of-coin-or/) Robert W. Hemphill > [My agency in promoting the passage of the National Banking Act was the greatest mistake of my life. It has built up a monopoly…](https://sms4smile.com/quotes/salmon-p-chase/my-agency-in-promoting-the-passage-of-the-national-banking-act-was/) [Salmon P. Chase](https://sms4smile.com/quotes/author/salmon-p-chase/) > [The money power preys on the nation in times of peace, and conspires against it in times of adversity. It is more despotic than…](https://sms4smile.com/quotes/abraham-lincoln/the-money-power-preys-on-the-nation-in-times-of-peace-and-conspires/) [Abraham Lincoln](https://sms4smile.com/quotes/author/abraham-lincoln/) > [Let me issue and control a nation's money and I care not who writes the laws.](https://sms4smile.com/quotes/mayer-amschel-rothschild/let-me-issue-and-control-a-nation-s-money-and-i-care-not-who-writes/) [Mayer Amschel Rothschild](https://sms4smile.com/quotes/author/mayer-amschel-rothschild/) > [And who can suffer injury by just taxation, impartial laws and the application of the Jeffersonian doctrine of equal rights to all and special…](https://sms4smile.com/quotes/william-jennings-bryan/and-who-can-suffer-injury-by-just-taxation-impartial-laws-and-the/) [William Jennings Bryan](https://sms4smile.com/quotes/author/william-jennings-bryan/) > [“If all bank loans were paid, no one would have a bank deposit, and there would not be a dollar of currency or coin…](https://sms4smile.com/quotes/robert-h-hemphill/if-all-bank-loans-were-paid-no-one-would-have-a-bank-deposit-and/) Robert H. Hemphill > [Every dollar the government doesn't spend, tax, or borrow is a dollar that businesses and families can spend or invest themselves.](https://sms4smile.com/quotes/stephen-moore/every-dollar-the-government-doesn-t-spend-tax-or-borrow-is-a-dollar/) [Stephen Moore](https://sms4smile.com/quotes/author/stephen-moore/) > [The only way Congress can get one dollar to spend is to take that one dollar from Americans, borrow that one dollar from Americans,…](https://sms4smile.com/quotes/walter-e-williams/the-only-way-congress-can-get-one-dollar-to-spend-is-to-take-that-one/) [Walter E. Williams](https://sms4smile.com/quotes/author/walter-e-williams/) > [It is a wise rule and should be fundamental in a government disposed to cherish its credit, and at the same time to restrain…](https://sms4smile.com/quotes/thomas-jefferson/it-is-a-wise-rule-and-should-be-fundamental-in-a-government-disposed/) [Thomas Jefferson](https://sms4smile.com/quotes/author/thomas-jefferson/) > [Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.](https://sms4smile.com/quotes/ben-bernanke/investment-banks-manage-to-go-bankrupt-through-their-investment/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [JPMorgan was already, for the most part. Our businesses at JPMorgan share the same cash-management systems. The commercial bank, the private bank, the retail…](https://sms4smile.com/quotes/jamie-dimon/jpmorgan-was-already-for-the-most-part-our-businesses-at-jpmorgan/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [“notably the 1999 repeal of the US Glass–Steagall Act – allowed commercial banks to become investment banks as well. In addition to investing their…](https://sms4smile.com/quotes/robert-skidelsky/notably-the-1999-repeal-of-the-us-glass-steagall-act-allowed/) [Robert Skidelsky](https://sms4smile.com/quotes/author/robert-skidelsky/) > [Should we think about separating the investment banks from the commercial banks, a new Glass-Steagall? I would be really excited to see that. I…](https://sms4smile.com/quotes/kenneth-c-griffin/should-we-think-about-separating-the-investment-banks-from-the/) [Kenneth C. Griffin](https://sms4smile.com/quotes/author/kenneth-c-griffin/) > [As a matter of fact 25% of our U.S. investment banking business comes out of our commercial bank. So it's a competitive advantage for…](https://sms4smile.com/quotes/jamie-dimon/as-a-matter-of-fact-25-of-our-u-s-investment-banking-business-comes/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) ## More by Robert W. Hemphill > [If all bank loans were paid, there would not be a dollar of coin or currency in circulation. Someone has to borrow every dollar…](https://sms4smile.com/quotes/robert-w-hemphill/if-all-bank-loans-were-paid-there-would-not-be-a-dollar-of-coin-or/) Robert W. Hemphill > [If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or…](https://sms4smile.com/quotes/robert-w-hemphill/if-all-the-bank-loans-were-paid-no-one-could-have-a-bank-deposit-and/) Robert W. Hemphill > [Money is the most important subject intellectual persons can investigate and reflect upon. It is so important that our present civilization may collapse unless…](https://sms4smile.com/quotes/robert-w-hemphill/money-is-the-most-important-subject-intellectual-persons-can/) Robert W. Hemphill Explore all 4 Robert W. Hemphill quotes ## More Bankers quotes > ['Inequality' has become the political theme/slogan of our time in both Europe and the U.S., yet political leaders do not even bother to consider…](https://sms4smile.com/quotes/paul-singer/inequality-has-become-the-political-theme-slogan-of-our-time-in-both/) [Paul Singer](https://sms4smile.com/quotes/author/paul-singer/) > [The socially redeeming aspect of golf lies in the vast number of lawyers and bankers and managers who play it, and when you think…](https://sms4smile.com/quotes/garrison-keillor/the-socially-redeeming-aspect-of-golf-lies-in-the-vast-number-of/) [Garrison Keillor](https://sms4smile.com/quotes/author/garrison-keillor/) > [What Wall Street and credit card companies are doing is really not much different from what gangsters and loan sharks do who make predatory…](https://sms4smile.com/quotes/bernie-sanders/what-wall-street-and-credit-card-companies-are-doing-is-really-not/) [Bernie Sanders](https://sms4smile.com/quotes/author/bernie-sanders/) > [When a government is dependent upon bankers for money, they and not the leaders of the government control the situation](https://sms4smile.com/quotes/napoleon-bonaparte/when-a-government-is-dependent-upon-bankers-for-money-they-and-not/) [Napoleon Bonaparte](https://sms4smile.com/quotes/author/napoleon-bonaparte/) > [3 people get stranded on a remote Island A Banker, a Daily Mail reader & an Asylum seeker All they have to eat is…](https://sms4smile.com/quotes/christopher-brookmyre/3-people-get-stranded-on-a-remote-island-a-banker-a-daily-mail-reader/) [Christopher Brookmyre](https://sms4smile.com/quotes/author/christopher-brookmyre/) > [“After analyzing our current crisis and studying well-established historical precedents, I must conclude that the global bankers have only three possible cards left to…](https://sms4smile.com/quotes/ziad-k-abdelnour/after-analyzing-our-current-crisis-and-studying-well-established/) [Ziad K. Abdelnour](https://sms4smile.com/quotes/author/ziad-k-abdelnour/) > [“Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises…](https://sms4smile.com/quotes/nassim-nicholas-taleb/suckers-think-that-you-cure-greed-with-money-addiction-with/) [Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/) > [ What I think is bugging this guy \[Steven Lerner\] is the belief that debt - forced debt upon middle-class people, students (i.e., student loans… ](https://sms4smile.com/quotes/rush-limbaugh/what-i-think-is-bugging-this-guy-steven-lerner-is-the-belief-that/) [Rush Limbaugh](https://sms4smile.com/quotes/author/rush-limbaugh/) > [If you owe your bank manager a thousand pounds, you are at his mercy. If you owe him a million pounds, he is at…](https://sms4smile.com/quotes/john-maynard-keynes/if-you-owe-your-bank-manager-a-thousand-pounds-you-are-at-his-mercy/) [John Maynard Keynes](https://sms4smile.com/quotes/author/john-maynard-keynes/) > [It's a topsy-turvy world in which a country can import the same amount of ice-cream, toilet paper and other goods to trading partners as…](https://sms4smile.com/quotes/andrew-simms/it-s-a-topsy-turvy-world-in-which-a-country-can-import-the-same/) [Andrew Simms](https://sms4smile.com/quotes/author/andrew-simms/) > [Why is it possible to rescue S&L buccaneers in the early '90s and provide guidance to levered Wall Street investment bankers during the 1998…](https://sms4smile.com/quotes/bill-gross/why-is-it-possible-to-rescue-s-l-buccaneers-in-the-early-90s-and/) [Bill Gross](https://sms4smile.com/quotes/author/bill-gross/) > [There is too much sour grapes for my taste in the present American attitude. The time to denounce the bankers was when we were…](https://sms4smile.com/quotes/edith-wharton/there-is-too-much-sour-grapes-for-my-taste-in-the-present-american/) [Edith Wharton](https://sms4smile.com/quotes/author/edith-wharton/) > [Argentina is a marvelous place. Argentines are great bankers of information. They import information; if someone sneezes in Milan or in New York, they…](https://sms4smile.com/quotes/emilio-ambasz/argentina-is-a-marvelous-place-argentines-are-great-bankers-of/) [Emilio Ambasz](https://sms4smile.com/quotes/author/emilio-ambasz/) > [Now it's of peculiar interest to an Arab country that there is a company and a certain set of bankers who also finance the…](https://sms4smile.com/quotes/l-ron-hubbard/now-it-s-of-peculiar-interest-to-an-arab-country-that-there-is-a/) [L. Ron Hubbard](https://sms4smile.com/quotes/author/l-ron-hubbard/) > [The bankers just got a good cussing by everybody for loaning too much money. Well, they got some awful nice buildings. So when a…](https://sms4smile.com/quotes/will-rogers/the-bankers-just-got-a-good-cussing-by-everybody-for-loaning-too-much/) [Will Rogers](https://sms4smile.com/quotes/author/will-rogers/) [Browse all 464 Bankers quotes ](https://sms4smile.com/quotes/about/bankers/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Someone has to borrow every dollar we have in circulation, cash or credit.", "creator": { "@type": "Person", "name": "Robert W. Hemphill" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/robert-w-hemphill/someone-has-to-borrow-every-dollar-we-have-in-circulation-cash-or/", "about": { "@type": "Thing", "name": "Bankers" }, "@id": "https://sms4smile.com/quotes/robert-w-hemphill/someone-has-to-borrow-every-dollar-we-have-in-circulation-cash-or/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/da6/robert-w-hemphill-72880_bankers_someone-has-to-borrow-every-dollar-we-ha_1560146.jpg", "contentUrl": "https://sms4smile.com/quotes/i/da6/robert-w-hemphill-72880_bankers_someone-has-to-borrow-every-dollar-we-ha_1560146.jpg", "url": "https://sms4smile.com/quotes/i/da6/robert-w-hemphill-72880_bankers_someone-has-to-borrow-every-dollar-we-ha_1560146.jpg", "width": 1080, "height": 1080, "caption": "“Someone has to borrow every dollar we have in circulation, cash or credit.” — Robert W. Hemphill", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Robert W. Hemphill", "item": "https://sms4smile.com/quotes/author/robert-w-hemphill/" }, { "@type": "ListItem", "position": 4, "name": "Someone has to borrow every dollar...", "item": "https://sms4smile.com/quotes/robert-w-hemphill/someone-has-to-borrow-every-dollar-we-have-in-circulation-cash-or/" } ], "@id": "https://sms4smile.com/quotes/robert-w-hemphill/someone-has-to-borrow-every-dollar-we-have-in-circulation-cash-or/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```