Quote by Upton Sinclair

The private control of credit is the modern form of slavery.

The private control of credit is the modern form of slavery.

Summary

This quote suggests that the privatization of credit, the dependence on privately owned banking systems and financial institutions, is comparable to a form of enslavement. It implies that individuals become bound by the power of these entities, as they hold authority over the access and distribution of money. Opponents argue that this system perpetuates economic inequality and exploitation as the wealthy elite profit and exercise control, while the majority of people remain financially dependent and limited in their opportunities for progress.

Topics

Credit

By Upton Sinclair

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