A Quote by David Ricardo
Gold and silver are no doubt subject to fluctuations, from the discovery of new and more abundant mines; but such discoveries are rare, and their effects, though powerful, are limited to periods of comparatively short duration.
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The discovery of gold and silver in America, the extirpation, enslavement and entombment in mines of the aboriginal population, the turning of Africa into a warren for the commercial hunting of black-skins, signalised the rosy dawn of the era of capitalist production.
Many gold and silver experts will recommend you buy numismatic coins - rare and old coins. If you are not a rare coin expert, I'd encourage you to stay away from them. New investors often pay too much for rare coins that are not really rare.
People adored Element 13's color and luster, which reminded them of the sparkle of gold and silver - a brand-new precious metal. In fact, aluminum became more precious than gold and silver in the 19th century because it was harder to obtain.
There would be more genuine rejoicing at the discovery of a complete new novel by Jane Austen than any other literary discovery, short of a new major play by Shakespeare.
Discoveries are always accidental; and the great use of science is by investigating the nature of the effects produced by any process or contrivance, and of the causes by which they are brought about, to explain the operation and determine the precise value of every new invention. This fixes as it were the latitude and longitude of each discovery, and enables us to place it in that part of the map of human knowledge which it ought to occupy. It likewise enables us to use it in taking bearings and distances, and in shaping our course when we go in search of new discoveries.
So if you think America's politicians and citizens are willing to make the changes necessary to strengthen the U.S. dollar, then don't buy silver. But if you're like me and don't expect us, as a nation, to take our medicine, then short the dollar - and the way you short the currency is by going long on gold and silver.
Make new friends, but keep the old;
Those are silver, these are gold.
New-made friendships, like new wine,
Age will mellow and refine.
Friendships that have stood the test -
Time and change - are surely best;
Brow may wrinkle, hair grow gray,
Friendship never knows decay.
For 'mid old friends, tried and true,
Once more we our youth renew.
But old friends, alas! may die,
New friends must their place supply.
Cherish friendship in your breast-
New is good, but old is best;
Make new friends, but keep the old;
Those are silver, these are gold.
The good things in history are usually of very short duration, but afterward have a decisive influence on what happens over long periods of time.
It is rare that we use our thinking faculty as resolutely as an irishman his spade. To please our friends and relatives we turn out our silver ore in cartloads, while we neglect to workour mines of gold known only to ourselves far up in the Sierras, where we pulled up a bush in our mountain walk, and saw the glittering treasure. Let us return thither. Let it be the price of our freedom to make that known.
An animal that is very abundant, before it gets extinct, it becomes rare. So you don't lose abundant animals. You always lose rare animals. Therefore, they're not perceived as a big loss.
The routine of custom tends to deaden even scientific inquiry; it stands in the way of discovery and of the active scientific worker. For discovery and inquiry are synonymous as an occupation. Science is a pursuit, not a coming into possession of the immutable; new theories as points of view are more prized than discoveries that quantitatively increase the store on hand.
Gold is not less but more rational than paper money. Money holds value so long as it is in limited supply; gold will always be in limited supply, and would require real resources to produce even from the sea; paper and printing ink are not in limited supply. The gold system is much closer to a modern automatic scientific control system than the crude and relatively unstable system of paper.
It has therefore been justly observed that however honestly the coin of a country may conform to its standard, money made of gold and silver is still liable to fluctuations in value, not only to accidental, and temporary, but to permanent and natural variations, in the same manner as other commodities.
In my judgment, if we had pursued this course, the zones would have been of short duration. England would have been compelled to take her mines out of the North Sea in order to get any supplies from our country.
There's no doubt in my mind that we'll have a mania in gold. And because the gold and especially silver markets are so tiny, the rush into them will be like trying to push the contents of Hoover Dam through a garden hose. Our positions will go absolutely ballistic.
We need to give the private sector many more powerful incentives to do research and development, to bring ideas and new discoveries to market in Canada, and commercialize them here, and stay here through successive stages of growth. But they can only do it with better government policies that give them more powerful incentive.
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