Debtor Quotes

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Savers have to be punished so debtors can be saved.Why? Because if debtors are rescued, that makes it possible for more debts to be issued in the future.And why is that important? Because the banking system needs ever more loans in order to survive.

Chris Martenson
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There has been much talk about the alleged exploitation of the debtor nations by the creditor nations. But if the concept of exploitation is to be applied to these relations, it is rather an exploitation of the investing by the receiving nations. These loans and investments were not intended as gifts. The loans were made upon solemn stipulation of payment of principal and interest. The investments were made in the expectation that property rights would be respected. With the exception of the bulk of the investments made in the United States, in some of the British dominions, and in some smaller countries, these expectations have been disappointed. Bonds have been defaulted or will be in the next few years. Direct investments have been confiscated or soon will be. The capital-exporting countries can do nothing but wipe off their balances.

Ludwig von Mises, Omnipotent Government
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So far as variations in the objective exchange-value of money are foreseen, they influence the terms of credit transactions. If a future fall in the purchasing power of the monetary unit has to be reckoned with, lenders must be prepared for the fact that the sum of money which a debtor repays at the conclusion of the transaction will have a smaller purchasing power than the sum originally lent. Lenders, in fact, would do better not to lend at all, but to buy other goods with their money. The contrary is true for debtors. If they buy commodities with the money they have borrowed and sell them again after a time, they will retain a surplus over and above the sum that they have to pay back. The credit transaction results in a gain for them. Consequently it is not difficult to understand that, so long as continued depreciation is to be reckoned with, those who lend money demand higher rates of interest and those who borrow money are willing to pay the higher rates. If, on the other hand, it is expected that the value of money will increase, then the rate of interest will be lower than it would otherwise have been.

Ludwig von Mises, The Theory of Money and Credit
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The creditor hath a better memory than the debtor.

James Howell
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IMF is really designed to protect creditors not debtors.

David Graeber
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We are debtors to every man to give him the gospel in the same measure in which we have received it.

P.F. Bresee
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Some troubles like a protested note of a solvent debtor bear interest.

Honore de Balzac
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The ideas of debtor and creditor as to what constitutes a good time never coincide.

P.G. Wodehouse, Love Among the Chickens
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Give us this day our daily bread. And forgive us our debts as we forgive our debtors.

Bible
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Bankruptcy is about financial death and financial rebirth. Bankruptcy is the great American story rewritten. We're a nation of debtors.

Elizabeth Warren
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