“Gold has worked down from Alexander’s time. When something holds good for two thousand years I do not believe it can be so because of prejudice or mistaken theory.”
Bernard Baruch
“The commerce and industry of the country, however, it must be acknowledged, though they may be somewhat augmented [by paper money], cannot be altogether so secure, when they are thus, as it were, suspended upon the Daedalian wings of paper money, as when they travel about upon the solid ground of gold and silver.”
Adam Smith, Wealth of Nations, p. 262
“Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry. It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.”
Alan Greenspan, former US Federal Reserve Chairman, August 23, 2011
“For central banks this [gold] is a reserve of safety, it’s viewed by the country as such. In the case of non-dollar countries it gives you a value-protection against fluctuations against the dollar.”
Mario Draghi, ECB President, Q&A at the Kennedy School of Government at Harvard, 2014
“Le papier-monnaie revient finalement à sa valeur intrinsèque – zéro.”
Voltaire
