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Owe your banker 1,000 and you are at his mercy; owe him 1 million and the position is… — John Maynard Keynes

Owe your banker 1,000 and you are at his mercy; owe him 1 million and the position is reversed.

John Maynard Keynes
1945
★ 4.5
Other tags relating to this quote
Topic
DebtFinance
Statement type
Paradox
Time
1945
Person
John Maynard Keynes
Provenance
Current citation
Keynes, John Maynard. "Overseas Financial Policy in Stage III (1945)." The Essential Keynes. Penguin, edited by Robert Skidelsky, 2016.
Original citation
Keynes, John Maynard. Memo circulated to British War Cabinet. 15 May 1945.

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Think big, think positive, never show any sign of weakness. Always go for the throat. Buy low, sell high. Fear? That's the other guy's problem. Nothing you have ever experienced will prepare you for the unbridled carnage you are about to witness. Superbowl, The World Series—they don't know what pressure is. In this building, it's either kill or be killed. You make no friends in the pits and you take no prisoners. One minute you're up half a million in soybeans and the next, boom, your kids don't go to college and they've repossessed your Bentley. Are you with me?

Louis Winthorpe III
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