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Gold Quotes

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Gold Quotes

“Given all the money printing that is going on globally - and not just in the US - and given that the total credit as a percent of the advanced economies is now 30% higher than in 2007 before the crisis hit, I think that gold is a good insurance.”

Thinking Given Economy Higher Percent Gold Crisis Credit Printing

Author:Marc Faber

“Beliefs constitute the basic stratum, that which lies deepest, in the architecture of our life. By them we live, and by the same token we rarely think of them.... One may symbolize the individual life as a bank of issue. The bank lives on the credit of a gold reserve which is rarely seen, which lies at the bottom of metal coffers hidden in the vaults of the building. The most elementary caution will suggest that from time to time the effective condition of these guaranties--of these credences, one might say, that are the basis of credit--be passed in review.”

“The future of commerce is going to be all electronic. The gold standard was a fine idea, but electronic changes of funds and credits will be the future.”

Ideas Fine Standards Gold Credit Fund Commerce Gold Standard

Author:Bill Nye

“O Gold! I still prefer thee unto paper, which makes bank credit like a bark of vapour.”

Stills Money Paper Gold Credit Thee Bark Vapor Vapour Buying Gold

Author:Lord Byron

“I mean, we've always had gold bugs, but now we sort of realize that Treasure Bills might be in the same category. And we have derivatives like credit default swaps which are in this category, and we have derivatives like volatilities that are actually an asset class that we can invest in which are now - would out perform if we have another financial crisis.”

Ifs Mean Might Realizing Class Gold Crisis Bills Financial Credit Treasure Assets Categories Bugs Default Financial Crisis Derivatives Volatility Credit Default Swap

Author:Robert F. Engle

“The CDO was, in effect, a credit laundering service for the residents of Lower Middle Class America. For Wall Street it was a machine that turned lead into gold.”

America Class Streets Middle Effects Wall Gold Machines Credit Middle Class Residents

Book:The Big Short: Inside the Doomsday Machine (movie tie-in)

Source: The Big Short: Inside the Doomsday Machine (movie tie-in)

“The major credit I think Jim and I deserve is for selecting the right problem and sticking to it. It's true that by blundering about we stumbled on gold, but the fact remains that we were looking for gold.”

Thinking Facts Problem Vision Majors Deserve Gold Remains Credit Molecular Biology

Author:Francis Crick

“The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.”

“The major credit I think Jim and I deserve ... is for selecting the right problem and sticking to it. It's true that by blundering about we stumbled on gold, but the fact remains that we were looking for gold. Both of us had decided, quite independently of each other, that the central problem in molecular biology was the chemical structure of the gene. ... We could not see what the answer was, but we considered it so important that we were determined to think about it long and hard, from any relevant point of view.”

“If government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will. As a result, this 'inflation' of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy.”

Ifs Government Values Results Economy Economic Paper Economics Gold Dollars Credit Manage Damage Pounds Tickets Dominant Inflation Calculations Market Economy Cripples Suppliers

Author:Murray Rothbard

“An American credit card is just as good in Europe as American gold used to be.”

Used Europe Gold Credit Cards Used To Be Credit Card

Author:Edward Bellamy

“There are five main purposes of central bank cooperation"..."the provision of international credits and joint efforts to influence asset prices (especially gold and foreign exchange) in circumstances where this might be thought useful.”

Might Purpose Effort Five Influence Circumstances Gold International Credit Assets Cooperation Joints Provision Central Banks Joint Efforts Foreign Exchange

Author:William Smith White

“Gold is money. Everything else is credit.”

Author:J. P. Morgan