A Quote by Horace
Silver is of less value than gold, gold than virtue.
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Silver is less valuable than gold, gold than virtue.
[Lat., Vilius argentum est auro virtutibus aurum.]
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.
Back in 1960, the paper dollar and the silver dollar both were the same value. They circulated next to each other. Today? The paper dollar has lost 95% of its value, while the silver dollar is worth $34, and produced a 2-3 times rise in real value. Since we left the gold standard in 1971, both gold and silver have become superior inflation hedges.
To measure prices by a currency that is called by the same names as gold, but that is really inferior in value to gold, and then - because those prices are nominally higher than gold prices - to say that they are inflated, relatively to gold, is a perfect absurdity.
Practically and commercially speaking, a dollar is not necessarily a specific thing, made of silver, or gold, or any other single metal, or substance. It is only such a quantum of market value as exists in a given piece of silver or gold.
Virtue and learning, like gold, have their intrinsic value: but if they are not polished, they certainly lose a great deal of their luster: and even polished brass will pass upon more people than rough gold.
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.
But tell me: how did gold get to be the highest value? Because it is uncommon and useless and gleaming and gentle in its brilliance; it always gives itself. Only as an image of the highest virtue did gold get to be the highest value. The giver's glance gleams like gold. A golden brilliance concludes peace between the moon and the sun. Uncommon is the highest virtue and useless, it is gleaming and gentle in its brilliance: a gift-giving virtue is the highest virtue.
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.
But what's worth more than gold?" "Practically everything. You, for example. Gold is heavy. Your weight in gold is not very much gold at all. Aren't you worth more than that?
Gold actually has properties - you can use gold for all sorts of things. People value gold for the metal. Nobody values bitcoin for the bitcoin; they value it because they believe that they can exchange it for something else.
Emulation has been termed a spur to virtue, and assumes to be a spur of gold. But it is a spur composed of baser materials, and if tried in the furnace will be found to want that fixedness which is the characteristic of gold. He that pursues virtue, only to surpass others, is not far from wishing others less forward than himself; and he that rejoices too much at his own perfections will be too little grieved at the defects of other men.
The very beating of your heart has meaning and purpose. Your actions have value far greater than silver or gold.
Large sums were paid for the use of money, because the available amount of gold and silver was far less than was needed to carry on the commercial transactions of the times.
When I was on tour, people would say "We don't need a value-based currency, we can go out and buy gold and silver with US dollars now." I mean that it is so utterly brain dead, because they miss the whole point: the reason we need to have a gold and silver based currency is to bring discipline to the financial system so the government can't go out and do all sorts of bad things.
Gold has intrinsic value. The problem with the dollar is it has no intrinsic value. And if the Federal Reserve is going to spend trillions of them to buy up all these bad mortgages and all other kinds of bad debt, the dollar is going to lose all of its value. Gold will store its value, and you'll always be able to buy more food with your gold.
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