A Quote by Henry S. Reuss

When the U.S. government stops wasting our resources by trying to maintain the price of gold, its price will sink to...$6 an ounce rather than the current $35 an ounce.

Henry S. Reuss

Quote Topics

Current Gold Government Maintain Ounce Our Price Rather Resources Sink Stops Than Trying Wasting Will

Quote Author

Henry S. Reuss
Politician
February 22, 1912 - January 12, 2002

The price of gold was fixed at $35 an ounce in 1934, but by the time the U.S. got through the Korean War, the Vietnam war, with all the associated secular inflation, the price level had gone up nearly three times.

Robert Mundell

Earth gets its price for what Earth gives us; The beggar is taxed for a corner to die in, The priest hath his fee who comes and shrives us, We bargain for the graves we lie in; Each ounce of dross costs its ounce of gold... 'T is heaven alone that is given away, 'T is only God may be had for the asking; There is no price set on the lavish summer, And June may be had by the poorest comer.

James Russell Lowell

An ounce of gold is an ounce of gold, whether it consists of guineas, sovereigns or eagles.

Hans F. Sennholz

At the devil's booth are all things sold. Each ounce of dross costs its ounce of gold.

James Russell Lowell

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.

James Rickards

There is abundant proof that the opening of our ports always tends to raise the price of foreign corn to the price in the English market, and not to sink the price of British corn to the price in the continental market.

Joseph Hume

The major asset in this category is gold, currently a huge favorite of investors who fear almost all other assets, especially paper money (of whose value, as noted, they are right to be fearful). Gold, however, has two significant shortcomings, being neither of much use nor procreative. True, gold has some industrial and decorative utility, but the demand for these purposes is both limited and incapable of soaking up new production. Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end.

Warren Buffett

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.

Eddie George

Ounce for ounce, herbs and spices have more antioxidants than any other food group.

Michael Greger

Clearly the price considered most likely by the market is the true current price: if the market judged otherwise, it would quote not this price, but another price higher or lower.

Louis Bachelier

All of the government's monetary, economic and political power, as well as its extensive propaganda machinery, will be enlisted in a constant battle to drive down the price of gold - but in the absence of any fundamental change in the nation's monetary, fiscal, and economic direction, simply regard any major retreat in the price of gold as an unexpected buying opportunity.

Irwin Schiff

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.

James Rickards

The way I see it, gold is headed over $1000 an ounce, probably much higher. At anywhere near current prices, it's the lowest risk, highest potential investment I can think of.

Doug Casey

Whatever the price, identify it now. What will you have to go through to get where you want to be? There is a price you can pay to be free of the situation once and for all. It may be a fantastic price or a tiny one -- but there is a price.