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Gold Quotes

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Gold Quotes

“During the games of the Circus, he had, imprudently or designedly, performed the manumission of a slave in the presence of the consul. The moment he was reminded that he had trespassed on the jurisdiction of another magistrate, he condemned himself to pay a fine of ten pounds of gold, and embraced this public occasion of declaring to the world that he was subject, like the rest of his fellow-citizens, to the laws, and even to the forms, of the republic.”

“In truth, the gold standard is already a barbarous relic. All of us, from the Governor of the Bank of England downwards, are now primarily interested in preserving the stability of business, prices, and employment, and are not likely, when the choice is forced on us, deliberately to sacrifice these to outworn dogma, which had its value once, of 3 pounds, 17 shill ings, 10 1/2 pence per ounce. Advocates of the ancient standard do not observe how remote it now is from the spirit and the requirements of the age. A regulated nonmetallic standard has slipped in unnoticed. It exists.”

“I looked up and saw my flag. But I didn't hear my anthem. The quotation above from 6 ft 4 inch, 286 pound Silver Medalist Ghaffari (who broke down in tears on the medal stand) summed up his disappointment after an overtime loss to Aleksandr Karelin of Russia. A win would have given Ghaffari not only the Olympic gold medal but also his first victory over Karelin, something of which he has literally dreamed about after 20 meets between the two. Karelin dominates international competition in the sport.”

“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.”