Gold and Paper Money – Statements from Wise and Famous People

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“When paper money systems begin to crack at the seams, the run to gold could be explosive.” Harry Browne

“Regardless of the dollar price involved, one ounce of gold would purchase a good-quality man’s suit at the conclusion of the Revolutionary War, the Civil War, the presidency of Franklin Roosevelt, and today.” Peter A. BurshreDeviant Investor

“In the long run, the gold price has to go up in relation to paper money. There is no other way. To what price, that depends on the scale of the inflation – and we know that inflation will continue.” Nicholas L. Deak

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“If you don’t trust gold, do you trust the logic of taking a beautiful pine tree, worth about $4,000 – $5,000, cutting it up, turning it into pulp and then paper, putting some ink on it and then calling it one billion dollars?” Kenneth J. Gerbino

“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.” Alan Greenspan

“The first requisite of a sound monetary system is that it put the least possible power over the quantity or quality of money in the hands of the politicians.”
Henry Hazlitt

“All previous attempts to base money solely on intangibles such as credit or government edict or fiat have ended in inflationary panic and disaster.”
Donald Hoppe

“Betting against gold is the same as betting on governments. He who bets on governments and government money bets against 6,000 years of recorded human history.” Gary North

“Gold was not selected arbitrarily by governments to be the monetary standard. Gold had developed for many centuries on the free market as the best money; as the commodity providing the most stable and desirable monetary medium.” Murray N. Rothbard

“Gold will be around, gold will be money when the dollar and the euro and the yuan and the ringgitt are mere memories.” Richard Russell

“The history of fiat money is little more than a register of monetary follies and inflations. Our present age merely affords another entry in this dismal register.”
Hans F. Sennholz

“For more than two thousand years gold’s natural qualities made it man’s universal medium of exchange. In contrast to political money, gold is honest money that survived the ages and will live on long after the political fiats of today have gone the way of all paper.” Hans F. Sennholz

“The gold standard, in one form or another, will prevail long after the present rash of national fiats is forgotten or remembered only in currency museums.”
Hans F. Sennholz

“You have to choose [as a voter] between trusting to the natural stability of gold and the natural stability and intelligence of the members of the government. And with due respect to these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold.” George Bernard Shaw

“As fewer and fewer people have confidence in paper as a store of value, the price of gold will continue to rise.” Jerome F. Smith

“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. von Hayak

“Of all the contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money.” Daniel Webster

(Thanks to Investment Rarities)

GE Christenson
aka Deviant Investor


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