Lenin is said to have declared that the best way to destroy the Capitalistic System was to debauch the currency. . . Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million can diagnose.

The old saying holds. Owe your banker �1000 and you are at his mercy; owe him �1 million and the position is reversed.

The boom, not the slump, is the right time for austerity at the Treasury.

Markets can remain irrational longer than you can remain solvent.

I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago.

Experience shows that what happens is always the thing against which one has not made provision in advance.

If you owe your bank manager a thousand pounds, you are at his mercy. If you owe him a million pounds, he is at your mercy.