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When you say "paying the banks," what they really mean is paying the bank bondholders. They are basically the One Percent.


Michael Hudson
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Other quotes of Michael Hudson


We go forward with our heads held high, but look back and remember where we come from.

We go forward with our heads held high, but look back and remember where we come from.



You have a choice. Either you can have more oil, or more clean water. Fracking is not good for the water supply.

You have a choice. Either you can have more oil, or more clean water. Fracking is not good for the water supply.



The one sure mark of a con, though, is the promise of free money.

The one sure mark of a con, though, is the promise of free money.



What's bad for the frackers usually is good for the rest of the world.

What's bad for the frackers usually is good for the rest of the world.



Nothing could be better for the economy than to get rid of fracking.

Nothing could be better for the economy than to get rid of fracking.



Every government, from the Obama administration right through to Angela Merkel, the Eurozone and the IMF, promise to save the banks, not the economy.

Every government, from the Obama administration right through to Angela Merkel, the Eurozone and the IMF, promise to save the banks, not the economy.



Elites play the role today that landlords played under feudalism. They levy interest and financial fees that are like a tax, to support what the classical economists called "unproductive activity."

Elites play the role today that landlords played under feudalism. They levy interest and financial fees that are like a tax, to support what the classical economists called "unproductive activity."



Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains.

Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains.



We're still in the collapse that began after 2008. There's not a new collapse, there hasn't been a recovery.

We're still in the collapse that began after 2008. There's not a new collapse, there hasn't been a recovery.



To the deficit commission, a depression is the solution to the problem, not a problem.

To the deficit commission, a depression is the solution to the problem, not a problem.





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One of her favorite lines was, "The difference between genius and stupidity s that genius has limits.

One of her favorite lines was, "The difference between genius and stupidity s that genius has limits.



Morality and honor are not to be confused. "The difference between a moral man and a man of honor is that the latter regrets a discreditable act, even when it has worked and he has not been caught.

Morality and honor are not to be confused. "The difference between a moral man and a man of honor is that the latter regrets a discreditable act, even when it has worked and he has not been caught.



The dynamics of capitalism is postponement of enjoyment to the constantly postponed future.

The dynamics of capitalism is postponement of enjoyment to the constantly postponed future.



Death is what makes life fun.

Death is what makes life fun.



There's a lot more to playing in the big leagues in New York than just the baseball part.

There's a lot more to playing in the big leagues in New York than just the baseball part.



I, who thought to sink, was caught up into love, and taught the whole of life in a new rhythm.

I, who thought to sink, was caught up into love, and taught the whole of life in a new rhythm.



My mom beat me up," I informed my reflection. It looked back sympathetically.

My mom beat me up," I informed my reflection. It looked back sympathetically.



Great literature is like moral leadership; everyone deplores the lack of it, but there is a tendency to prefer it from the safely dead.

Great literature is like moral leadership; everyone deplores the lack of it, but there is a tendency to prefer it from the safely dead.



We need to stand together. Since I was elected leader of our party, we have repeatedly defeated the government over its attacks on living standards.

We need to stand together. Since I was elected leader of our party, we have repeatedly defeated the government over its attacks on living standards.




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This page presents the quote "When you say &quot;paying the banks,&quot; what they really mean is paying the bank bondholders. They are basically the One Percent.". Author of this quote is Michael Hudson. This quote is about really mean, percent, mean,.