A Quote by Hugh McCulloch
By common consent of the nations, gold and silver are the only true measure of value. They are the necessary regulators of trade. I have myself no more doubt that these metals were prepared by the Almighty for this very purpose, than I have that iron and coal were prepared for the purposes in which they are being used.
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In Israel, it always meant - and a lot of that is still true - there was only one kind of man you could be, there were no alternatives, no options. If you were from a good family, you were supposed to be a successful soldier at 18 and be strong, and prepared to protect your wife and family, or family and children, and be prepared to die for your country.
Is he prepared to support, at his own expense, projects and undertakings designed to help the needy? Is he prepared to pay higher taxes so that public authorities may expand their efforts in the work of development? Is he prepared to pay more for imported goods, so that the foreign producer may make a fairer profit? Is he prepared to emigrate from his homeland if necessary and if he is young, in order to help the emerging nations?
Because silver and gold have their value from the matter itself, they have first this privilege, that the value of them cannot be altered by the power of one, nor of a few commonwealths, as being a common measure of the commodities of all places. But base money may easily be enhanced or abased.
Everyone asks about gold. This is the irony: just as Jim Grant tells us (correctly) that we all have faith-based paper currencies backed by nothing, it is equally fair to say that gold is a faith-based metal. It pays no dividend, cannot be eaten, and is mostly used for nothing more useful than jewelry. I would say that anything of which 75% sits idly and expensively in bank vaults is, as a measure of value, only one step up from the Polynesian islands that attached value to certain well-known large rocks that were traded.
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.
We have seen when the earth had to be prepared for the habitation of man, a veil, as it were, of intermediate being was spread between him and its darkness, in which were joined in a subdued measure, the stability and insensibility of the earth, and the passion and perishing of mankind.
I feel very blessed to have four brothers. My brothers always say, 'Oh, you know, we prepared you for the world of journalism. We prepared you for Arnold. We prepared you for everything.' And in a way they're right. Because you know, they take no prisoners. They were very tough.
After 9/11 we were prepared to use military force. We were prepared to go after not only the terrorists, but those who sponsor terror and provide sanctuary and safe harbor for them. We were prepared to use our intelligence assets the way we would against an enemy that threatened the United States itself, to put in place, for example, things like the Terror Surveillance Program and to have a robust interrogation program on detainees. Those are the acts you take when you feel you're at war and that the very existence of the nation is threatened.
Definitely very proud, very honoured to be Canadian. To be able to represent your country in Canada and win a gold medal on home soil is an honour in itself. There is no doubt in my mind that we were prepared for whatever it was going to take. And I think that we battled hard and we had no doubt in our mind that if we went out there and played Canadian hockey that we would come out successful.
From the inception of our nation our American ancestors intended for the United States to operate under a precious-metals monetary system or, more specifically, under a monetary system in which people used gold and silver coins rather than paper money as the media of exchange.
For in the true nature of things, if we rightly consider, every green tree is far more glorious than if it were made of gold and silver.
It's a lifelong failing: she has never been prepared. But how can you have a sense of wonder if you're prepared for everything? Prepared for the sunset. Prepared for the moonrise. Prepared for the ice storm. What a flat existence that would be.
The very beating of your heart has meaning and purpose. Your actions have value far greater than silver or gold.
The conquistadors and their followers were very rough people, and they were fixated on gold and silver. They were oblivious to the astonishing achievements of the Inca civilisation.
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.
We are entering an era of heightened disaster, thanks to climate change. Being prepared for disaster will mean being prepared to sift truth from rumour, and being prepared to adjust our worldview.
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