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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.

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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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