WHEN WANK BECAME SWANK: Money, Banking, and The Evolution of the All-Debt Economy

Greg Daneke, Emeritus Prof.
9 min readAug 30, 2023

“The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the Central Banks of the world acting in concert.” Carrol Quigley (Bill Clinton’s favorite Georgetown professor).

“Permit me to issue and control the money of a nation, and I care not who makes the laws.” Mayer Amschel Rothschild (scion of the great global banking dynasty).

“The most hated sort, and with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural object of it. For money was intended to be used in exchange, but not to increase at interest. And this term interest, which means the birth of money from money, is applied to the breeding of money.” Aristotle

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.” Thomas Jefferson

“The ruling passion of the age is to convert wealth into debt in order to derive permanent future income from it — to convert wealth that perished into debt that endures, debt that does…

--

--

Greg Daneke, Emeritus Prof.
Greg Daneke, Emeritus Prof.

Written by Greg Daneke, Emeritus Prof.

Top Economics Writer, Gov. service, corp consulting, & faculty posts (e.g., Mich., Stanford, British Columbia). Piles of scholarly pubs & occasional diatribes.

Responses (25)