Hot answers tagged banking
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Banking existed in the era of the Romans and earlier. In ancient Greece and Asia Minor temples served as a sanctuary where individuals could make deposits for safekeeping. This practice continued with the Romans (see this article titled "Temple Banking In Rome"). For instance, the Temple of Artemis in Ephesus was the largest depository in Asia and served as ...
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The actual quote which is attributed to Mayer Amschel Rothschild is:
Permit me to issue and control the money of a nation, and I care not who makes its laws!
A number of sources (such as this one) claim that this statement was made in 1838 (which would have been a difficult feat as he would have been dead for 26 years by then). Wikiquote claims that ...
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This is an addition to Mike Rodney's answer. The Twelve Tables, traditionally written in 450 BC, were some of Rome's most ancient laws.
The majority of Table III deals with banking. In particular Law I says that bankers can't steal deposits; Law II forbids usury†; Laws V through X concern treatment of delinquent debtors.
So banking was common enough 2500 ...
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One unique characteristic of Hamilton's Bank of the U.S. (BUS) was that the government only had a 20 percent ownership of the bank, but the government had the right at all times for reports and status on the operation of the bank. Hamilton was concerned that government officials would be tempted to use the bank to give/gain favors politically...so he found ...
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He pushed for a private and independent central bank, the First Bank of the United States. It was similar to the Bank of England, except he expected it to loan money to private institutions and businesses as well as perform its government duties. He also founded the Bank of New York, which was a private lending institution similar to modern commercial banks.
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It was John Maynard Keynes who famously said, "Practical men who believe themselves exmept from any intellectual influences, are usually the slave of some defunct economist." Rothschild's statement (above) echoed this sentiment, meaning, "Let me control a country's economy and the laws that it passes will follow naturally from this economy."
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