Smith on Banking

It is not unlikely that the bolstering up of banking systems by their Governments is a factor which makes for instability. [1]

Vera C. Smith

 

[1] Vera C. Smith – The Rationale of Central Banking and the Free Banking Alternative. LibertyPress, Indianapolis 1936, p. 7.

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Taleb on Non-Risk-Takers

At no point in history have so many non-risk-takers, that is, those with no personal exposure, exerted so much control. [1]

Nassim N. Taleb

 

[1] Nassim N. Taleb – Antifragile: Things that Gain from Disorder. Penguin, Kindle Edition, 2012, p. 6.