Much has been written about panics and manias, much more than with the outstretched intellect we are able to follow or conceive; but one thing is certain, that at particular times a great deal of stupid people have a great deal of stupid money.... At intervals, from causes which are not to the present purpose known, the money of these people - the blind capital, as we call it, of the country - is particularly large and craving; it seeks for someone to devour it, and there is a "plethora"; it finds someone, and there is "speculation"; it is devoured, and there is "panic".
- Walter Bagehot, "Essay on Edward Gibbon", 1888
All things come to an end, even panics, after they have taken their toll from the gamblers and adventurers who produced them... but men do not make panics deliberately, for they are their unconscious agents. - Charles Albert Collman from Our Mysterious Panics 1931
"Less than one percent of all humans control nearly half the world's wealth. It is essential to recognize that the far less than 1% were not just lucky beneficiaries of a poorly designed system. No, our rulers evolved, designed, and built this system over many centuries to acquire the wealth and power that they now hold. Elites will not see this system replaced with a fairer one without a fight, indeed the mother of all fights." Monetary analyst, Andrew Claire