Quotes about Fraud

It will be asked how will the two masses of Continental and of State money have cost the people of the United States seventy-two millions of dollars, when they are to be redeemed now with about six million? I answer that the difference, being sixty-six millions, has been lost on the paper bills separately by the successive holders of them. Every one, through whose hands a bill passed, lost on that bill what it lost in value during the time it was in his hands. This was a real tax on him; and in this way the people of the United States actually contributed those sixty-six millions of dollars during the war, and by a mode of taxation the most oppressive of all because the most unequal of all.

Paper money is like dram-drinking, it relieves for a moment by deceitful sensation, but gradually diminishes the natural heat, and leaves the body worse than it found it. Were not this the case, and could money be made of paper at pleasure, every sovereign in Europe would be as rich as he pleased. But the truth is, that it is a bubble and the attempt vanity. Nature has provided the proper materials for money: gold and silver, and any attempt of ours to rival her is ridiculous….

If anything had or could have a value equal to gold and silver, it would require no tender law; and if it had not that value it ought not to have such a law; and, therefore, all tender laws are tyrannical and unjust and calculated to support fraud and oppression.

One of the evils of paper money is that it turns the whole country into stock jobbers. The precariousness of its value and the uncertainty of its fate continually operate, night and day, to produce this destructive effect. Having no real value in itself it depends for support upon accident, caprice, and party; and as it is the interest of some to depreciate and of others to raise its value, there is a continual invention going on that destroys the morals of the country.

There are a set of men who go about making purchases upon credit, and buying estates they have not wherewithal to pay for; and having done this, their next step is to fill the newspapers with paragraphs of the scarcity of money and the necessity of a paper emission, then to have a legal tender under the pretense of supporting its credit, and when out, to depreciate it as fast as they can, get a deal of it for a little price, and cheat their creditors; and this is the concise history of paper money schemes.

Money, when considered as the fruit of many years' industry, as the reward of labor, sweat and toil, as the widow's dowry and children's portion, and as the means of procuring the necessaries and alleviating the afflictions of life, and making old age a scene of rest, has something in it sacred that is not to be sported with, or trusted to the airy bubble of paper currency.

As we have already shown, every dollar that exists today, either in the form of currency, checkbook money, or even credit card money -- in other words, our entire money supply -- exists only because it was borrowed by someone; perhaps not you, but someone.

That means all the American dollars in the entire world are earning daily and compounding interest for the banks which created them. A portion of every business venture, every investment, every profit, every transaction which involves money -- and that even includes losses and the payment of taxes -- a portion of all that is earmarked as payment to a bank.

And what did the banks do to earn this perpetually flowing river of wealth? Did they lend out their own capital obtained through investment of stockholders? Did they lend out the hard-earned savings of their depositors? No, neither of these were their major source of income. They simply waved the magic wand called fiat money.

When banks place credits into your account, they are merely pretending to lend you money. In reality, they have nothing to lend. Even the money that non-indebted depositors have placed with them was originally created out of nothing in response to someone else's loan. So what entitles the banks to collect rent on nothing? It is immaterial that men everywhere are forced by law to accept these nothing certificates in exchange for real goods and services. We are talking here not about what is legal, but what is moral.

Unlike most topics in the MBA curriculum, which have remained fairly consistent for decades, ethics is a new area. What appeared at first to be only a trendy elective course has now become institutionalized as part of the MBA curriculum at Harvard, Wharton, and Darden. With the criminal convictions of insider traders in the 1980s, business schools took notice and jumped on the ethics bandwagon in the 1990s. In the new century, the collapses on Enron, WorldCom, and Arthur Andersen, the mutual fund trading scandals, Martha Stewart's stock sales, and the revelations of accounting fraud have kept ethics on the front burner.   

It is with a pious fraud as with a bad action; it begets a calamitous necessity of going on.

Force, and fraud, are in war the two cardinal virtues.

Rather fail with honor than succeed by fraud.

It is possible that the scrupulously honest man may not grow rich so fast as the unscrupulous and dishonest one; but the success will be of a truer kind, earned without fraud or injustice. And even though a man should for a time be unsuccessful, still he must be honest: better lose all and save character. For character is itself a fortune. . . .

It is to the United States that all freemen look for the light and the hope of the world. Unless we dedicate ourselves completely to this struggle, unless we combat hunger with food, fear with trust, suspicion with faith, fraud with justice - and threats with power, nations will surrender to the futility, the hopelessness, the panic on which wars feed.

Thy steady temper, Portius, Can look on guilt, rebellion, fraud, and Cæsar, In the calm lights of mild philosophy.

A con-man convicted of fraud was sentenced to twenty-five years. He said, "Judge, I can't serve twenty-five years." "Why can't you?" "Because I'm seventy years old now." Then the judge gave him a very significant reply, "Well, do the best you can." Now, are you doing the best you can? With all the tools at hand, and all the opportunities and privileges which are yours, are you doing your best? Many of us fall down, but we have an opportunity to get up again. Don't be a quitter.

Now, I appeal to the consciences of those that persecute, torment, destroy, and kill other men upon pretence of religion, whether they do it out of friendship and kindness towards them or no? I say, if all this be done merely to make men Christians and procure their salvation, why then do they suffer whoredom, fraud, malice and such-like enormities, which (according to the Apostle) manifestly relish of heathenish corruption, to predominate so much and abound amongst their flocks and people?

May is a pious fraud of the almanac.

Ireland, as distinct from her people, is nothing to me; and the man who is bubbling over with love and enthusiasm for "Ireland," and can yet pass unmoved through our streets and witness all the wrong and the suffering, shame and degradation wrought upon the people of Ireland-yea, wrought by Irishmen upon Irish men and women, without burning to end it, is, in my opinion, a fraud and a liar in his heart, no matter how he loves that combination of chemical elements he is pleased to call Ireland.

I do not remember in my whole life I ever willfully misrepresented anything to anybody at any time. I have never knowingly had connection with a fraudulent scheme.

The only proper purpose of a government is to protect man's rights, which means: to protect him from physical violence. . . . The only proper functions of a government are: the police, to protect you from criminals; the army, to protect you from foreign invaders; and the courts, to protect your property and contracts from breach or fraud by others, and to settle disputes by rational rules, according to objective law.

But neither life nor happiness can be achieved by the pursuit of irrational whims. Just as man is free to attempt to survive in any random manner, but will perish unless he lives as his nature requires, so he is free to seek his happiness in any mindless fraud, but the torture of frustration is all he will find, unless he seeks the happiness proper to man. The purpose of morality is to teach you, not to suffer and die, but to enjoy yourself and live.

Money is your means of survival. The verdict you pronounce upon the source of your livelihood is the verdict you pronounce upon your life. If the source is corrupt, you have damned your own existence. Did you get your money by fraud? By pandering to men's vices or men's stupidity? By catering to fools, in the hope of getting more than your ability deserves? By lowering your standards? By doing work you despise for purchasers your scorn? If so, then your money will not give you a moment's or a penny's worth of joy. Then all the things you buy will become, not a tribute to you, but a reproach; not an achievement, but a reminder of shame. Then you'll scream that money is evil. Evil, because it would not pinch-hit for your self-respect? Evil, because it would not let you enjoy your depravity? Is this the root of your hatred of money?

Honesty is the recognition of the fact that the unreal is unreal and can have no value, that neither love nor fame nor cash is a value if obtained by fraud - that an attempt to gain a value by deceiving the mind of others is an act of raising your victims to a position higher than reality, where you become a pawn of their blindness, a slave of their non-thinking and their evasions, while their intelligence, their rationality, their perceptiveness become the enemies you have to dread and flee - that you do not care to live as a dependent, least of all a dependent on the stupidity of others, or as a fool whose source of values is the fools he succeeds in fooling - that honesty is not a social duty, not a sacrifice for the sake of others, but the most profoundly selfish virtue man can practice: his refusal to sacrifice the reality of his own existence to the deluded consciousness of others.

RABBLE, n. In a republic, those who exercise a supreme authority tempered by fraudulent elections. The rabble is like the sacred Simurgh, of Arabian fable - omnipotent on condition that it do nothing.