[T]he first bad bank loan was no doubt made around the time of the opening of the first bank.

Progress is cumulative in science and engineering, but cyclical in finance.

It is an axiom nowadays that no bank fails for lack of capital; unprofitable lending is always the underlying cause.

Credit is money of the mind.

Debt is always repaid, either by the borrower or by the lender.

Central banks have gotten out of the central banking business and into the central planning business, meaning that they are devoted to raising up-if they can-economic growth and employment through the dubious means of suppressing interest rates and printing money. The nice thing about gold is that you can't print it.

It's about bums on seats. If nobody wants to listen to what you are doing, it kind of defeats the purpose really, doesn't it?