Author: John Maynard Keynes
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By this means (fractional reserve banking) government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.
All production is for the purpose of ultimately satisfying a consumer.
If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.
... a speculator is one who runs risks of which he is aware and an investor is one who runs risks of which he is unaware.
It's not bringing in the new ideas that are so hard; it's getting rid of the old ones.
It is the duty of the long-term investor to endure great losses with equanimity.
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