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Gold Quotes

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Gold Quotes

“Back in 1960, the paper dollar and the silver dollar both were the same value. They circulated next to each other. Today? The paper dollar has lost 95% of its value, while the silver dollar is worth $34, and produced a 2-3 times rise in real value. Since we left the gold standard in 1971, both gold and silver have become superior inflation hedges.”

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Author:Mark Skousen
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“It has therefore been justly observed that however honestly the coin of a country may conform to its standard, money made of gold and silver is still liable to fluctuations in value, not only to accidental, and temporary, but to permanent and natural variations, in the same manner as other commodities.”

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Book:The Works of David Ricardo ...
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“The little and short sayings of nice And excellent men are of great value, like the dust of gold, or the least sparks of diamonds.”

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Book:The works of the most Reverend Dr. John Tillotson, late Lord Archbishop of Canterbury: containing fifty four sermons and discourses ... Together with the rule of faith
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“Life is legal tender, and individual character stamps its value. We are from a thousand mints, and all genuine. Despite our infinitely diverse appraisements, we make change for one another. So many ideals planted are worth the great gold of Socrates; so many impious laws broken are worth John Brown.”

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Book:Patrins, to which is added An inquirendo into the wit & other good parts of His late Majesty King Charles the Second
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“In that intensely busy time of children and work, soup became my stalwart friend and I learned its true value. Anyone who's been there knows. You're busy, too much to do, time vanishes, the kids are relentless, and everyone is hungry all the time. Something as comforting, delicious, and practical as soup is like gold.”

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Book:Love Soup: 160 All-New Vegetarian Recipes from the Author of The Vegetarian Epicure
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“When people become frightened, they look for things of real value. They will go to monetary metals, gold and silver, and they will buy other things, such as buying property. But no matter what we have, whether we have our gold coins or we have our property, if we have an authoritarian government, that is our greatest threat. So, I would like to think that there is no perfect protection, other than shrinking the size and scope and power of government, so that we can be left alone and take care of ourselves.”

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Author:Ron Paul
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“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.”

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Book:The Collected Writings of John Maynard Keynes: Essays in persuasion
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“The folly of men has enhanced the value of gold and silver because of their scarcity; whereas, on the contrary, it is their opinion that Nature, as an indulgent parent, has freely given us all the best things in great abundance, such as water and earth, but has laid up and hid from us the things that are vain and useless.”

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Book:Utopia: On the Best State of a Republic and on the New Island of Utopia
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“Everyone asks about gold. This is the irony: just as Jim Grant tells us (correctly) that we all have faith-based paper currencies backed by nothing, it is equally fair to say that gold is a faith-based metal. It pays no dividend, cannot be eaten, and is mostly used for nothing more useful than jewelry. I would say that anything of which 75% sits idly and expensively in bank vaults is, as a measure of value, only one step up from the Polynesian islands that attached value to certain well-known large rocks that were traded.”

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Author:Jeremy Grantham
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“You could take all the gold that's ever been mined, and it would fill a cube 67 feet in each direction. For what that's worth at current gold prices, you could buy all -- not some -- all of the farmland in the United States. Plus, you could buy 10 Exxon Mobils, plus have $1 trillion of walking-around money. Or you could have a big cube of metal. Which would you take? Which is going to produce more value?”

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Author:Warren Buffett
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“Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it.”

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Book:Ayn Rand Novel Collection
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“Often, we try to repair broken things in such a way as to conceal the repair and make it “good as new.” But the tea masters understood that by repairing the broken bowl with the distinct beauty of radiant gold, they could create an alternative to “good as new” and instead employ a “better than new” aesthetic. They understood that a conspicuous, artful repair actually adds value. Because after mending, the bowl's unique fault lines were transformed into little rivers of gold that post repair were even more special because the bowl could then resemble nothing but itself.”

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Author:Teresita Fernandez
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“Over two thousand years ago, Aristotle taught us that money should be durable, divisible, consistent, convenient, and value in itself. It should be durable, which is why wheat isn't money; divisible which is why works of art are not money; consistent which is why real estate isn't money; convenient, which is why lead isn't money; value in itself, which is why paper shouldn't be money. Gold answers to all these criteria.”

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Author:Doug Casey
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“When I was on tour, people would say "We don't need a value-based currency, we can go out and buy gold and silver with US dollars now." I mean that it is so utterly brain dead, because they miss the whole point: the reason we need to have a gold and silver based currency is to bring discipline to the financial system so the government can't go out and do all sorts of bad things.”

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Author:Bernard von NotHaus
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“Most paper money initially existed as a substitute for gold. That's what gave it value. But right now what gives a currency value is other currency. Most countries hold reserves and the reserves are other currencies. If you are a backing up the euro with the dollar, what's backing up the dollar? I don't think it is going to go to a point where all you have is coins and bars of gold, but I do think that we are going to have to go back to a monetary system based in gold, not based on paper.”

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Author:Peter Schiff
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“Most governments, not all of them, but most, certainly don't want their citizens using gold. They want them in the currency that they are creating. When they are debasing money, or printing money, they are spending it and they want it to have as much value as possible when they originally spend it. Of course once they spend it, it will lose value for them and everyone else that holds it. But they need demand for their currency. They need as many people as possible holding it and transacting it. The more people that use gold, the harder it makes it.”

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Author:Peter Schiff
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“A currency serves three functions: providing a means of payment, a unit of account and a store of value. Gold may be a store of value for wealth, but it is not a means of payment. You cannot pay for your groceries with it. Nor is it a unit of account. Prices of goods and services, and of financial assets, are not denominated in gold terms.”

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Author:Nouriel Roubini
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“To measure prices by a currency that is called by the same names as gold, but that is really inferior in value to gold, and then - because those prices are nominally higher than gold prices - to say that they are inflated, relatively to gold, is a perfect absurdity.”

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Book:The Collected Works of Lysander Spooner: Economic writings
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“If gold has been prized because it is the most inert element, changeless and incorruptible, water is prized for the opposite reason -- its fluidity, mobility, changeability that make it a necessity and a metaphor for life itself. To value gold over water is to value economy over ecology, that which can be locked up over that which connects all things.”

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Book:Storming the Gates of Paradise: Landscapes for Politics
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