A gold standard is the ideal monetary system for those who create wealth through ingenuity, entrepreneurship, and hard work. Gold standards are disfavored by those who do not create wealth but instead seek to extract wealth from others through inflation, inside information, and market manipulation.
James RickardsRelated topics
extract gold hard inflation inside manipulation market seek wealth work others entrepreneurshipRelated quotes
All that stuff about heavy metal and hard rock, I don't subscribe to any of that. It's all just music. I mean, the heavy metal from the Seventies sounds nothing like the stuff from the Eighties, and that sounds nothing like the stuff from the Nineties. Who's to say what is and isn't a certain type of music?
Ozzy Osbourne
Indeed it would have been a mean-spirited course to go back on the century-old standard on account of so trifling a premium on gold, a premium which, as it turned out, the action of the market wiped out in a few months, before any of the provisions of the Act of 1819 had come into operation.
Ralph George Hawtrey
The monetary managers are fond of telling us that they have substituted 'responsible money management' for the gold standard. But there is no historic record of responsible paper money management ... The record taken, as a whole is one of hyperinflation, devaluation and monetary chaos.
Henry Hazlitt