The Monopoly of Credit

“OF all the forms of monopoly, the most dangerous today is the monopoly of Credit. . . . Today you may say that all society is in debt to those who hold the levers of credit, and that when, or if, we lose our freedom altogether we shall have for masters the remaining controllers of land and machinery, who will have behind them, as ultimate masters, the controllers of credit.”

~Hilaire Belloc: The Way Out, Chap. XII—The Monopoly of Credit.