--- title: "Meaning & Key Takeaway of: The banks themselves were doing business…" description: "\"The banks themselves were doing business on capitals three-fourths of which were fictitious. This fictitious capital... is now to be lost, and to fall ..." image: "https://sms4smile.com/quotes/i/787/thomas-jefferson-43_amount_the-banks-themselves-were-doing-business_2185883.jpg" --- # The banks themselves were doing business on capitals… ![“The banks themselves were doing business on capitals three-fourths of which were fictitious. This fictitious capital... is now to be lost, and to fall on somebody; it must take on those who have property to meet it, and probably on the less cautious part, who, not aware of the impending…” quote by Thomas Jefferson](https://sms4smile.com/quotes/i/787/thomas-jefferson-43_amount_the-banks-themselves-were-doing-business_2185883.jpg) [Download](https://sms4smile.com/quotes/i/787/thomas-jefferson-43_amount_the-banks-themselves-were-doing-business_2185883.jpg) [Open image](https://sms4smile.com/quotes/i/787/thomas-jefferson-43_amount_the-banks-themselves-were-doing-business_2185883.jpg) > “The banks themselves were doing business on capitals three-fourths of which were fictitious. This fictitious capital... is now to be lost, and to fall on somebody; it must take on those who have property to meet it, and probably on the less cautious part, who, not aware of the impending catastrophe, have suffered themselves to contract, or to be in debt, and must now sacrifice their property of a value many times the amount of the debt. We have been truly sowing the wind, and are now reaping the whirlwind.” [Thomas Jefferson](https://sms4smile.com/quotes/author/thomas-jefferson/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Economic speculation creates a cascade of debt that eventually harms the unsuspecting. **In simple terms:** Speculation leads to debt and loss for many. Key Takeaway Beware overleveraging and speculative bubbles. Themes economics risk speculation debt consequences Mood cautious analytical Type economic historical When to use this quote - Investors - borrowers - policy makers Key Concepts financial bubbles leveraged investments market crashes Questions to Reflect On - How can we balance risk and opportunity? - What safeguards prevent systemic collapse? A Different Perspective Speculation can also fund innovation and growth if regulated. ★ ★ ★ ★ ★ No ratings yet [Amount](https://sms4smile.com/quotes/about/amount/) [Banks](https://sms4smile.com/quotes/about/banks/) [Banks Doing](https://sms4smile.com/quotes/about/banks-doing-1121448/) [Business](https://sms4smile.com/quotes/about/business/) [Capital Lost](https://sms4smile.com/quotes/about/capital-lost-277364/) [Catastrophe](https://sms4smile.com/quotes/about/catastrophe/) [Cautious](https://sms4smile.com/quotes/about/cautious/) [Contracts](https://sms4smile.com/quotes/about/contracts/) [Customer](https://sms4smile.com/quotes/about/customer/) [Debt](https://sms4smile.com/quotes/about/debt/) [Debt Truly](https://sms4smile.com/quotes/about/debt-truly-4742675/) [Economy](https://sms4smile.com/quotes/about/economy/) [Fall](https://sms4smile.com/quotes/about/fall/) [Fictitious Capital](https://sms4smile.com/quotes/about/fictitious-capital-4742674/) [Has beens](https://sms4smile.com/quotes/about/has-beens/) [Liberalism](https://sms4smile.com/quotes/about/liberalism/) [Lost](https://sms4smile.com/quotes/about/lost/) [Politics](https://sms4smile.com/quotes/about/politics/) [Property](https://sms4smile.com/quotes/about/property/) [Sacrifice](https://sms4smile.com/quotes/about/sacrifice/) [Sowing](https://sms4smile.com/quotes/about/sowing/) [Three](https://sms4smile.com/quotes/about/three/) [Values](https://sms4smile.com/quotes/about/values/) [Whirlwind](https://sms4smile.com/quotes/about/whirlwind/) [Wind](https://sms4smile.com/quotes/about/wind/) [Wisdom](https://sms4smile.com/quotes/about/wisdom/) ## Related quotes > [Most of these charges that people pay are economically unnecessary. 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I mean, right now, there are so many places in America where the banks are not doing what they need to…](https://sms4smile.com/quotes/hillary-clinton/we-need-banking-i-mean-right-now-there-are-so-many-places-in-america/) [Hillary Clinton](https://sms4smile.com/quotes/author/hillary-clinton/) > [Let me talk about what the banks are doing, and I think the banks have been working to make sure that, as much as…](https://sms4smile.com/quotes/chanda-kochhar/let-me-talk-about-what-the-banks-are-doing-and-i-think-the-banks-have/) [Chanda Kochhar](https://sms4smile.com/quotes/author/chanda-kochhar/) > [The same things happen to quite an extent around the globe. 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After the injuries we have done them,…](https://sms4smile.com/quotes/thomas-jefferson/the-two-principles-on-which-our-conduct-towards-the-indians-should-be/) [Thomas Jefferson](https://sms4smile.com/quotes/author/thomas-jefferson/) > [Knowledge is power...knowled ge is safety...knowle dge is happiness.](https://sms4smile.com/quotes/thomas-jefferson/knowledge-is-power-knowled-ge-is-safety-knowle-dge-is-happiness/) [Thomas Jefferson](https://sms4smile.com/quotes/author/thomas-jefferson/) > [There is... an artificial aristocracy founded on wealth and birth, without either virtue or talents... 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But when the government is afraid of the people, that's liberty.](https://sms4smile.com/quotes/thomas-jefferson/when-the-people-are-afraid-of-the-government-that-s-tyranny-but-when/) [Thomas Jefferson](https://sms4smile.com/quotes/author/thomas-jefferson/) > [“We hold these truths to be self-evident, that all men are created equal, that they are endowed, by their Creator, with certain unalienable Rights,…](https://sms4smile.com/quotes/thomas-jefferson/we-hold-these-truths-to-be-self-evident-that-all-men-are-created/) [Thomas Jefferson](https://sms4smile.com/quotes/author/thomas-jefferson/) [Explore all 2,098 Thomas Jefferson quotes ](https://sms4smile.com/quotes/author/thomas-jefferson/) ## More Amount quotes > [Dating someone on the opposite end of the happy spectrum teaches you an incredible amount of patience.](https://sms4smile.com/quotes/chris-pine/dating-someone-on-the-opposite-end-of-the-happy-spectrum-teaches-you/) [Chris Pine](https://sms4smile.com/quotes/author/chris-pine/) > [When the amount of change externally exceeds the amount of change internally, the end is in sight.](https://sms4smile.com/quotes/jack-welch/when-the-amount-of-change-externally-exceeds-the-amount-of-change/) [Jack Welch](https://sms4smile.com/quotes/author/jack-welch/) > [A human being can only absorb a small amount of the mystical kundalini, you can be exposed again and again to it, but it…](https://sms4smile.com/quotes/frederick-lenz/a-human-being-can-only-absorb-a-small-amount-of-the-mystical/) [Frederick Lenz](https://sms4smile.com/quotes/author/frederick-lenz/) > [It's a great story for us whenever an entrepreneur makes a crazy amount of money and we get to tell the world about it.…](https://sms4smile.com/quotes/sarah-lacy/it-s-a-great-story-for-us-whenever-an-entrepreneur-makes-a-crazy/) [Sarah Lacy](https://sms4smile.com/quotes/author/sarah-lacy/) > [It's a challenge to work a character's arc into a format in which you only have a very limited amount of time to grow…](https://sms4smile.com/quotes/ginnifer-goodwin/it-s-a-challenge-to-work-a-character-s-arc-into-a-format-in-which-you/) [Ginnifer Goodwin](https://sms4smile.com/quotes/author/ginnifer-goodwin/) > [The amount of things you can do with a kettlebell is unsurpassed by any other training equipment - dumbbells, resistance machines, free weights.](https://sms4smile.com/quotes/laird-hamilton/the-amount-of-things-you-can-do-with-a-kettlebell-is-unsurpassed-by/) [Laird Hamilton](https://sms4smile.com/quotes/author/laird-hamilton/) > [The amount you give isn't important. 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