Historical Quotes About Gold and Money

26 Dec

Historical Quotes About Gold and Money

Some Important Things Said About Gold and Money…

“Good money is coined freedom.”

Swiss Proverb

“For 2,500 years the global electorate has identified gold as the most reliable standard of value—which means that gold, a specific amount of gold, is the best possible unit of account, the best proxy for all goods, services and financial assets that are involved in the banking system and exchange economy.”

Jude Wanniski

“Gold is money. Everything else is credit.”

J.P. Morgan

Those entrapped by the herd instinct are drowned in the deluges of history. But there are always the few who observe, reason, and take precautions, and thus escape the flood. For these few gold has been the asset of last resort.

Antony C. Sutton

A U.S. dollar is an I.O.U. from the Federal Reserve Bank. It’s not backed by gold or silver. It’s a promissory note that doesn’t actually promise anything.

P.J. O’Rourke

Specie [gold and silver coin] is the most perfect medium because it will preserve its own level; because, having intrinsic and universal value, it can never die in our hands, and it is the surest resource of reliance in time of war.

Thomas Jefferson

Governments lie; bankers lie; even auditors sometimes lie. Gold tells the truth.

– Lord Rees Mogg

Bitcoin is not an actual physical coin, and if computers are shut down, you can’t buy or sell them. That’s why nothing will ever replace gold and silver coins themselves, and all investors should have them at home or in a safe deposit box.

– Mark Skousen

With the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people.

– F.A. Hayek

The question is would you rather put $10,000 in a box for 20 years or a few gold coins?

– Ron Paul

Paper money eventually returns to its intrinsic value—zero.

– Voltaire

The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion — policemen, customs guards, penal courts, prisons, in some countries even executioners — had to be put into action in order to destroy the gold standard. Solemn pledges were broken, retroactive laws were promulgated, provisions of constitutions and bills of rights were openly defied. And hosts of servile writers praised what the governments had done and hailed the dawn of the fiat-money millennium.

– Ludwig von Mises

The Golden Rule: He who has the gold makes the rules.

– Attributed to a 1967 Wizard of Id comic strip

I think there is a question mark over the durability of any power that relies as heavily as the United States on importing capital and borrowing from abroad.

– Niall Ferguson

. . . if we face a monopolist we are at his mercy. And an authority directing the whole economic system would be the most powerful monopolist conceivable.

– F.A. Hayek