--- title: "Meaning & Key Takeaway of: It is a terrible situation when the…" description: "\"It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges, at the hands of ..." image: "https://sms4smile.com/quotes/i/6c9/thomas-a-edison-866_banking_it-is-a-terrible-situation-when-the-gove_990905.jpg" --- # It is a terrible situation when the Government, to insure… ![“It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges, at the hands of men, who control the fictitious value of gold. Interest is the invention of Satan.” quote by Thomas A. Edison](https://sms4smile.com/quotes/i/6c9/thomas-a-edison-866_banking_it-is-a-terrible-situation-when-the-gove_990905.jpg) [Download](https://sms4smile.com/quotes/i/6c9/thomas-a-edison-866_banking_it-is-a-terrible-situation-when-the-gove_990905.jpg) [Open image](https://sms4smile.com/quotes/i/6c9/thomas-a-edison-866_banking_it-is-a-terrible-situation-when-the-gove_990905.jpg) > “It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges, at the hands of men, who control the fictitious value of gold. Interest is the invention of Satan.” [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Government debt and interest are seen as harmful, with interest portrayed as a satanic invention. **In simple terms:** Debt and interest are harmful. Key Takeaway Question financial systems. Themes economics government debt Mood critical analytical Type political economic When to use this quote - budget planning - policy reform - investment strategies Key Concepts capitalism interest theory financial ethics Questions to Reflect On - Is all interest inherently evil? - How can governments balance debt and growth? A Different Perspective Interest can fund growth if managed wisely. ★ ★ ★ ★ ★ No ratings yet [Banking](https://sms4smile.com/quotes/about/banking/) [Debt](https://sms4smile.com/quotes/about/debt/) [Federal reserve](https://sms4smile.com/quotes/about/federal-reserve/) [Gold](https://sms4smile.com/quotes/about/gold/) [Gold Invention](https://sms4smile.com/quotes/about/gold-invention-2028311/) [Government](https://sms4smile.com/quotes/about/government/) [Hands](https://sms4smile.com/quotes/about/hands/) [Interest](https://sms4smile.com/quotes/about/interest/) [Invention](https://sms4smile.com/quotes/about/invention/) [Men](https://sms4smile.com/quotes/about/men/) [Monetary system](https://sms4smile.com/quotes/about/monetary-system/) [National Wealth](https://sms4smile.com/quotes/about/national-wealth-376840/) [Politics](https://sms4smile.com/quotes/about/politics/) [Satan](https://sms4smile.com/quotes/about/satan/) [Situation](https://sms4smile.com/quotes/about/situation/) [Submit](https://sms4smile.com/quotes/about/submit/) [Terrible](https://sms4smile.com/quotes/about/terrible/) [Value Gold](https://sms4smile.com/quotes/about/value-gold-986694/) [Values](https://sms4smile.com/quotes/about/values/) [Wealth](https://sms4smile.com/quotes/about/wealth/) [Wealth Debt](https://sms4smile.com/quotes/about/wealth-debt-2028310/) ## Related quotes > [If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill…](https://sms4smile.com/quotes/thomas-a-edison/if-the-nation-can-issue-a-dollar-bond-it-can-issue-a-dollar-bill-the/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [People who will not turn a shovel full of dirt on the project (Muscle Shoals Dam) nor contribute a pound of material, will collect…](https://sms4smile.com/quotes/thomas-a-edison/people-who-will-not-turn-a-shovel-full-of-dirt-on-the-project-muscle/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [Gold has intrinsic value. The problem with the dollar is it has no intrinsic value. And if the Federal Reserve is going to spend…](https://sms4smile.com/quotes/peter-schiff/gold-has-intrinsic-value-the-problem-with-the-dollar-is-it-has-no/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [“Debts are subject to the laws of mathematics rather than physics. Unlike wealth, which is subject to the laws of thermodynamics, debts do not…](https://sms4smile.com/quotes/soddy-frederick/debts-are-subject-to-the-laws-of-mathematics-rather-than-physics/) [Soddy Frederick](https://sms4smile.com/quotes/author/soddy-frederick/) > [The ruling passion of the age is to convert wealth into debt in order to derive a permanent future income from it - to…](https://sms4smile.com/quotes/frederick-soddy/the-ruling-passion-of-the-age-is-to-convert-wealth-into-debt-in-order/) [Frederick Soddy](https://sms4smile.com/quotes/author/frederick-soddy/) > [It is absurd to say that our country can issue $30,000,000 in bonds and not $30,000,000 in currency. Both are promises to pay; but…](https://sms4smile.com/quotes/thomas-a-edison/it-is-absurd-to-say-that-our-country-can-issue-30-000-000-in-bonds/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [It is the people who constitute the basis of Government credit. Why then cannot the people have benefit of their own gilt-edge credit by…](https://sms4smile.com/quotes/thomas-a-edison/it-is-the-people-who-constitute-the-basis-of-government-credit-why/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [The Federal Reserve is one of the most corrupt institutions the world has ever seen. There is not a man within the sound of…](https://sms4smile.com/quotes/louis-thomas-mcfadden/the-federal-reserve-is-one-of-the-most-corrupt-institutions-the-world/) [Louis Thomas McFadden](https://sms4smile.com/quotes/author/louis-thomas-mcfadden/) > [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/) > [The death of Lincoln was a disaster for Christendom. There was no man in the United States great enough to wear his boots and…](https://sms4smile.com/quotes/otto-von-bismarck/the-death-of-lincoln-was-a-disaster-for-christendom-there-was-no-man/) [Otto von Bismarck](https://sms4smile.com/quotes/author/otto-von-bismarck/) > [We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the world.](https://sms4smile.com/quotes/woodrow-wilson/we-have-come-to-be-one-of-the-worst-ruled-one-of-the-most-completely/) [Woodrow Wilson](https://sms4smile.com/quotes/author/woodrow-wilson/) > [ The issuing power \[of money\] should be taken from the banks and restored to the people, to whom it properly belongs. ](https://sms4smile.com/quotes/thomas-jefferson/the-issuing-power-of-money-should-be-taken-from-the-banks-and/) [Thomas Jefferson](https://sms4smile.com/quotes/author/thomas-jefferson/) > [Some people think the Federal Reserve Banks are United States Government Institutions. They are private credit monopolies which prey upon the people of the…](https://sms4smile.com/quotes/louis-thomas-mcfadden/some-people-think-the-federal-reserve-banks-are-united-states/) [Louis Thomas McFadden](https://sms4smile.com/quotes/author/louis-thomas-mcfadden/) > [The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying…](https://sms4smile.com/quotes/abraham-lincoln/the-government-should-create-issue-and-circulate-all-the-currency-and/) [Abraham Lincoln](https://sms4smile.com/quotes/author/abraham-lincoln/) > [The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight-of-hand that was ever invented.](https://sms4smile.com/quotes/josiah-stamp/the-modern-banking-system-manufactures-money-out-of-nothing-the/) [Josiah Stamp](https://sms4smile.com/quotes/author/josiah-stamp/) ## More by Thomas A. Edison > [We are striking it big in the electric light, better than my vivid imagination first conceived. Where this thing is going to stop Lord…](https://sms4smile.com/quotes/thomas-a-edison/we-are-striking-it-big-in-the-electric-light-better-than-my-vivid/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [I will not say I failed 1000 times, I will say that I discovered there are 1000 ways that can cause failure](https://sms4smile.com/quotes/thomas-a-edison/i-will-not-say-i-failed-1000-times-i-will-say-that-i-discovered-there/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [Friendship is the heaven of life.](https://sms4smile.com/quotes/thomas-a-edison/friendship-is-the-heaven-of-life/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [Even though I am nearly deaf, I seem to be gifted with a kind of inner hearing which enables me to detect sounds and…](https://sms4smile.com/quotes/thomas-a-edison/even-though-i-am-nearly-deaf-i-seem-to-be-gifted-with-a-kind-of-inner/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [Being busy does not always mean real work. The object of all work is production or accomplishment and to either of these ends there…](https://sms4smile.com/quotes/thomas-a-edison/being-busy-does-not-always-mean-real-work-the-object-of-all-work-is/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [The very first thing an executive must have is a fine memory. Of course it does not follow that a man with a fine…](https://sms4smile.com/quotes/thomas-a-edison/the-very-first-thing-an-executive-must-have-is-a-fine-memory-of/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [Personally, I enjoy working about 18 hours a day. Besides the short catnaps I take each day, I average about four to five hours…](https://sms4smile.com/quotes/thomas-a-edison/personally-i-enjoy-working-about-18-hours-a-day-besides-the-short/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [The brain can be developed just the same as the muscles can be developed, if on will only take the pains to train the…](https://sms4smile.com/quotes/thomas-a-edison/the-brain-can-be-developed-just-the-same-as-the-muscles-can-be/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [“People who will not turn a shovel full of dirt on the project nor contribute a pound of material, will collect more money from…](https://sms4smile.com/quotes/thomas-a-edison/people-who-will-not-turn-a-shovel-full-of-dirt-on-the-project-nor/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [When I have fully decided that a result is worth getting I go ahead of it and make trial after trial until it comes.](https://sms4smile.com/quotes/thomas-a-edison/when-i-have-fully-decided-that-a-result-is-worth-getting-i-go-ahead/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [I remember that I was never able to get along at school. I was at the foot of the class.](https://sms4smile.com/quotes/thomas-a-edison/i-remember-that-i-was-never-able-to-get-along-at-school-i-was-at-the/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [Invention is 10% inspiration and 90% perspiration.](https://sms4smile.com/quotes/thomas-a-edison/invention-is-10-inspiration-and-90-perspiration/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [There seems to be no limit to which some men will go to avoid the labor of thinking. Thinking is hard work.](https://sms4smile.com/quotes/thomas-a-edison/there-seems-to-be-no-limit-to-which-some-men-will-go-to-avoid-the/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [Somewhere between the ages of eleven and fifteen, the average child begins to suffer from an atrophy, the paralysis of curiosity and the suspension…](https://sms4smile.com/quotes/thomas-a-edison/somewhere-between-the-ages-of-eleven-and-fifteen-the-average-child/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [Not only will atomic power be released, but someday we will harness the rise and fall of the tides and imprison the rays of…](https://sms4smile.com/quotes/thomas-a-edison/not-only-will-atomic-power-be-released-but-someday-we-will-harness/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) [Explore all 345 Thomas A. Edison quotes ](https://sms4smile.com/quotes/author/thomas-a-edison/) ## More Banking quotes > [If I could wave a magic wand, I'd break up the banking system.](https://sms4smile.com/quotes/kenneth-c-griffin/if-i-could-wave-a-magic-wand-i-d-break-up-the-banking-system/) [Kenneth C. Griffin](https://sms4smile.com/quotes/author/kenneth-c-griffin/) > [Historically, usury was defined as any interest whatever on an unproductive loan.Our whole banking system I have ever abhorred, I continue to abhor, and…](https://sms4smile.com/quotes/john-adams/historically-usury-was-defined-as-any-interest-whatever-on-an/) [John Adams](https://sms4smile.com/quotes/author/john-adams/) > [I am alive. Up here with the song of the engine and the air whispering on my face as the sunlight and shadows play…](https://sms4smile.com/quotes/stephen-coonts/i-am-alive-up-here-with-the-song-of-the-engine-and-the-air-whispering/) [Stephen Coonts](https://sms4smile.com/quotes/author/stephen-coonts/) > [It's not that I have any general aversion to technology but online banking just seems to be asking for trouble. You can have enough…](https://sms4smile.com/quotes/david-essex/it-s-not-that-i-have-any-general-aversion-to-technology-but-online/) [David Essex](https://sms4smile.com/quotes/author/david-essex/) > [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/) > [“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/) > [My father was in real estate, banking, and land management. 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