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"In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms."
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"Creditor. One of a tribe of savages dwelling beyond the Financial Straits and dreaded for their desolating incursions."
"Well, banks are the biggest mafia, you know, except for the government of course."
"I believe Money is too important to leave in the hands of government officials."
"Once you deposit that money in your checking account, it becomes the bank's money and you're just another one of their creditors."
"Money is only a problem to those that aren't willing to develop a higher conscience about how to master it."
"Organized scarcity is the best way to increase your profits.This is the idea of the ends justify the means. There are second and third order effects that will take away all of the gains and then some. Wisdom is better than gold, peace is better than profit."
"A sure way to go broke is to spend your outer riches before you have saved enough of your inner ones."
"Sharpen and trust your judgement: learn when spending is a shrewd investment and when it is merely an indulgence."
Explore more quotes by Ron Chernow
"After 1929, so many people had been traumatized by the stock market crash that there was a lost generation."
"Any bull market covers a multitude of sins, so there may be all sorts of problems with the current system that we won't see until the bear market comes."
"After being Washington's aide for four years and becoming the hero of Yorktown, Hamilton was viewed with a great deal of suspicion because of his association with Tories."
"I have developed a very strong partiality for the dead: they don't talk back, they don't sue, and they don't have angry relatives."
"I think one of the important things that's happened in the course of the century is that life expectancy has doubled."
"What I find very interesting about the mutual funds managers is that here are people who are the new masters of the universe. They're managing billions, yet they're subject to this quiet daily tyranny of numbers."
"The founding fathers were not only brilliant, they were system builders and systematic thinkers. They came up with comprehensive plans and visions."
"As the bull market goes on, people who take great risks achieve great rewards, seemingly without punishment. It's like crime without punishment or sex without sin."
"Once the brokerage house, rather than the bank, became the locus for American savings, that money would find its way into the stock market, because the broker was someone with a much higher tolerance for risk than the banker."
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