A Quote by Arthur F. Burns
My efforts to prevent closing of the gold window-working through Connally, Volcker, and Shultz-do not seem to have succeeded. The gold window may have to be closed tomorrow because we now have a government that is incapable, not only of constructive leadership, but of any action at all. What a tragedy for mankind!
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My treasure chest is filled with gold.
Gold . . . gold . . . gold . . .
Vagabond's gold and drifter's gold . . .
Worthless, priceless, dreamer's gold . . .
Gold of the sunset . . . gold of the dawn . . .Gold of the showertrees on my lawn . . .
Poet's gold and artist's gold . . .
Gold that can not be bought or sold -
Gold.
In 1971, the U.S. 'closed the gold window,' starting an era of global fiat money reference-pricing that has been unprecedented in history. Never before had the world operated on the basis of no country anywhere having a currency tied to something with intrinsic value like gold.
Then is what you see through this window onto the world so lovely that you have no desire whatsoever to look out through any other window, and that you even make an attempt to prevent others from doing so?
Under the gold standard gold is money and money is gold. It is immaterial whether or not the laws assign legal tender quality only to gold coins minted by the government.
We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K.
I can't remember the exact quote but when I used to trade and Mr. Volcker was Fed chairman, he said something like 'gold is my enemy, I'm always watching what gold is doing', we need to think why he made a statement like that. If you're a central banker or one of the congressmen or senators, watch what gold is doing because this is a no-confidence vote in fiscal and dollar policy.
It is the world's first Ebola epidemic, and it's spiraling out of control. It's bad now, and it's going to get worse in the very near future. There is still a window of opportunity to tamp it down, but that window is closing. We really have to act now.
Sometimes I think that all mankind exist but to be bought and sold: The rich man's paramour is gold, the poor man's goddess, gold, gold, gold.
When you own gold you're fighting every central bank in the world. That's because gold is a currency that competes with government currencies and has a powerful influence on interest rates and the price of government bonds. And that's why central banks long have tried to suppress the price of gold. Gold is the ticket out of the central banking system, the escape from coercive central bank and government power.
I call it God Light, because it reminds me of heaven. Every time the light shines through the window we built or any window at all, you'll know I'm right there with you, okay? That's going to be me. I'll be the light in the window.
He who looks through an open window sees fewer things than he who looks through a closed window.
For us there is only one season, the season of sorrow. The very sun and moon seem taken from us. Outside, the day may be blue and gold, but the light that creeps down through the thickly-muffled glass of the small iron-barred window beneath which one sits is grey and niggard. It is always twilight in one's cell, as it is always twilight in one's heart. And in the sphere of thought, no less than in the sphere of time, motion is no more.
The problem right now is that central banks have not normalized their balance sheet since 2009. They're trying, but it's not even close. If we had another crisis tomorrow, and you had to do QE4 and QE5, how could you do that when you're already at $4 trillion? They might have to turn to the IMF or SDR or to Gold. Then, if you go back to the gold standard, you have to get the price right. People say there's not enough gold to support a gold standard. That's nonsense. There's always enough gold, it's just a question of price.
Fame it's like... When you look through a window, say you pass a little pub, or an inn. You look through the window and you see people talking and carrying on. You,can watch outside the window and see them all being very real with each other. But when you walk into the room, it's over. I don't pay any attention to it.
With their tinted windows up, the cars of the rich go like dark eggs down the roads of Delhi. Every now and then an egg will crack open a woman's hand, dazzling with gold bangles, stretches out an open window, flings an empty mineral water bottle onto the road and then the window goes up, and the egg is resealed.
The window of X Factor opportunity opens up in the closing seconds of a race-you might be sprinting at the time or just hanging one, trying to get across the finish line. With a supreme act of will, you can prolong your effort, essentially fighting off the inevitable lactic acid shutdown. You'll have little time for contemplating the options: either wholeheartedly go for it, or back off. You must train your X Factor to unequivocally respond the way you want-go for it. Once the window is closed, it's closed forever.
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