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Quote of the Day: Run On the Bank

Posted by msrb on September 23, 2008

A Hanging Offense

“The goldsmith bankers in Amsterdam got a law passed making it a hanging offense to start a run on the goldsmith. But one day there was a run, and of course the goldsmith could not pay.  The matter was resolved not by hanging the unknown individual who started the run, but by hanging the goldsmith.”

Source: for the common good: redirecting the economy toward community, the environment, and a sustainable future by Herman E. Daly and John B. Cobb, Jr. Quoting Russel G. Barber, Jr. The One Hundred Percent Reserve System.

This entry was posted on September 23, 2008 at 8:41 am and is filed under goldsmith, government, money, politics. Tagged: , , , , , . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “Quote of the Day: Run On the Bank”

  1. Who Needs Corporations? « PRO said

    September 24, 2008 at 9:16 am

    […] Top Posts Chinese, New Zealand contaminated milk powder kills twoOn The Way To ArmageddonApocalypse: A Biblical self-fulfilling prophecy? Food Riots Grip Egypt, Haiti, El Salvador Emerging Food CrisisPalin: ‘the Lord is coming soon’Truth About ‘100% Pure New Zealand’ Advertising CampaignChina: 50,000 Years of Corruption It’s All About Big Oil, Stupid!Offshore Drilling: Things can only get better! « Quote of the Day: Run on the bank […]

  2. Federally Protected and Encouraged: Daylight Robbery « PRO said

    October 8, 2008 at 2:48 pm

    […] Run on the bank: A Hanging Offense […]

  3. From the Depth of a Black Hole « Fire Earth said

    October 20, 2008 at 9:08 am

    […] Run on the bank: A Hanging Offense […]

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