Quote by Andrew William Mellon
A nation is not in danger of financial disaster merely because it owes itself money.
Summary
This quote suggests that a nation's debt is not necessarily a cause for financial catastrophe as long as it is indebted to its own citizens or institutions within the country. In this context, owing money to oneself means that the government has borrowed funds from its own citizens or entities within the nation. Unlike owing money to foreign countries, which may constrain the nation's financial stability and economic sovereignty, debts owed domestically can have less severe consequences.
Liked the quote? Share it with your friends.
Random Quotations
