"The study of money, above all other fields in economics, is one in which
complexity is used to disguise truth or to evade truth, not to reveal it."
John Kenneth Galbraith
(1908-2006) Canadian-born economist, Harvard professor
Money: Whence it came, where it went - 1975, p15
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Reader comments about this quote:
In my book, I defined economics as the art of convincing people that paper is money and enslaving them with it while while an economist is one who is skilled at calming the sheep while they are being shorn, See: www.morpix.biz/dc For 29 years I have offered 100 pounds of money to each person who would just describe the money that government spends. I have had no takers! The Fed said their system of plunder "works only with credit." They told the truth.
 -- Anonymous     
    Confusion caused by deception is the method used in many (if not all) aspects of the life of the sheep. The effects of so much deception makes it almost impossible to reach the free thinking mind buried underneath the false beliefs instilled by the shearer. I believe the best way to get through is exposure of the debt money economic system. Once understood, other deceptions begin to fall away like dead leaves on a live tree. The truth is the refreshing breeze that blows the dead leaves away.
     -- Anon     
    We hold this truth to be self evident; proven over and over again through out history.
     -- Mike, Norwalk     
    Citation Correction Required. Quote shows DOB, without death. JKG died in April 2006. Please update your database.
     -- Joe, DC     
     -- jim k, austin      
    This quote is like an inside joke for economists only. I know no one on this site that understands economics let alone an inside joke! Anyone who sees the light and realizes that they are a sheep and wishes to shed their Greenbacks feel free to ship them to me.
     -- Waffler, Smith     
    Absolutely true. The greenback won't be worth a Continental if this keeps up. The Federal Reserve Note for a 'dollar' (of what they don't say) is worth 20% of what it was worth in 1970 and only 1% of what it was worth in 1913 when it was first issued. After a 100 years, a dollar is now worth a penny (actually a copper penny is worth much more than a 'dollar' now). The joke is on us. I'm not laughing and neither was Galbraith.
     -- E Archer, NYC     
    In case you didn't get the math, all losses of the value of the currency are direct gains to the creditor -- in other words if our money has lost 99% of its value, the creditors received it. That is to say that the issuer of the Federal Reserve Notes has gained 99% of the value of our money -- they have literally taken it all. We are but working for the enslavement of our grandchildren now.
     -- E Archer, NYC     
    The wolves don't even bother to wear sheep's clothing anymore.
     -- Ken, Allyn, WA     
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