"The old saying holds. Owe your banker £1000 and you are at his mercy; owe him £1 million and the position is reversed."

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Added on April 10, 2026
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Historians from EnglandPhilosophers from EnglandUniversity of Cambridge facultyEconomists from EnglandSociologists from England
Original Language: English

Sources

"Overseas Financial Policy in Stage III" (memorandum circulated to the UK War Cabinet on 15 May 1945), published in