"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. The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent."
John Kenneth Galbraith
(1908-2006) Canadian-born economist, Harvard professor
'Money: Whence it came, where it went' (1975)
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Reader comments about this quote:
 -- Bill, Pensacola, fl      
 -- Anonymous, Reston, VA US      
truth is is hidden so the few rule the many
 -- al , washington dc     
    Hey, anonymous...are you really so dense?
     -- David L. Rosenthal, Hollywood     
    Anon, Reston: Galbraith is on your side if your other posts are any indication - lol. He actually bridges the 'right/left' philosophical divide. Some would say he's 'socialistic' - he is, after all, Canadian - lol. I regard him as 'pragmatic'. Milton Friedman and Galbraith do not agree on a substantial number of points. Their primary area of contention is the issue of 'laissez-faire' (unrestrained). See: Galbraith Profile
     -- Terry Berg, Occidental, CA     
    If you have the time, there is a classic essay on the topic of Canadian Social Credit called The Money Myth Exploded. Canada, too, was switched off gold to fiat currency in 1913 (same year as the US), and there are plenty of Canadians who recognize the futility of paying interest to private bankers for a money supply when the government can print it up itself without interest. I'd be interested in Reston's comments after reading it.
     -- E Archer, NYC     
    I think this quote is soooo true!!!
     -- I. Zavala, SA, TX     
    The heart and soul, hidden beneath the confusions and questions of every conspiracy "theory" out there, of the beast.
     -- Anon     
     -- Mike, Norwalk      
    Yep, Galbraith says what few in his field dare to say. And he's telling the truth. Its a huge scam and we're all victims of fraud.
     -- J Carlton, Calgary     
     -- jim k, austin      
    The crime of all time and yet few are indicted - there lies the mystery - the fractional system did the rest.
     -- RBESRQ     
     -- Albert Ludwig, Calgary, Alberta      
    Yes it is simple. But many and some on this site think it is some kind of conspiracy or something.
     -- Waffler, Smith     
    Probably some of the most accurate remarks made during the 20th Century on economics. Right up there with these: “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” - Henry Ford "We must win the common people in every corner. This will be obtained chiefly by the means of the schools. We must acquire the direction of education, of the professorial chair, of church, and of the pulpit." ― Adam Weishaupt, founder of the Illuminati, proofs of a Conspiracy pg. 109-111 “The few who understand the system, will either be so interested in its profits, or so dependent on its favors, that there will be no opposition from that class. The great body of people, mentally incapable of comprehending the tremendous advantages, will bear its burden without complaint.” - Rothschild Brothers of London, 1863-Jun-25, in a letter to fellow members of the establishment "The only thing worse than big government is big government that is controlled by unrestrained big banking and big business." Jere L Hough 2009
     -- Jere Hough, Kansas City     
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