A Quote by James Rickards
A gold standard is the ideal monetary system for those who create wealth through ingenuity, entrepreneurship, and hard work. Gold standards are disfavored by those who do not create wealth but instead seek to extract wealth from others through inflation, inside information, and market manipulation.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.
When people are collecting gold they aren't doing business. ... Gold is constipation: even bankruptcy is more fluid. Gold isn't wealth: positions in markets are wealth.
If you don't put a value on money and seek wealth, you most probably won't receive it. You must seek wealth for it to seek you. If no burning desire for wealth arises within you, wealth will not arise around you. Having definiteness of purpose for acquiring wealth is essential for its acquisition.
Police and firefighters are great, but they don't create wealth. They protect it. That's crucial. Teaching is a wonderful profession. Teachers help educate people to become good citizens so that citizens can then go create wealth. But they don't create the wealth themselves.
Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it.
Every individual is a potential gold buyer, although he may not need the gold. It may be added to the store of personal wealth, and passed from generation to generation as an object of family wealth. There is no other economic good as marketable as gold.
I believe wealth should be in the hands of those who know how to create more wealth.
Throughout the 20th century, we created wealth through vertically integrated corporations. Now, we create wealth through networks. We are at a turning point in human history, where the industrial age has finally run out of gas.
The rich people are those who create wealth, and you have to treat them well so they continue to give wealth.
Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it.
I do not believe it is in the character of the British people to begrudge the lion's share to those who have genuinely played the lion's part. They are ready to recognise that those who create the wealth - and I mean not only material but intellectual wealth - enrich the whole nation.
Gold was not selected arbitrarily by governments to be the monetary standard. Gold had developed for many centuries on the free market as the best money; as the commodity providing the most stable and desirable monetary medium.
It is true that so far as wealth gives time for ideal ends and exercise to ideal energies, wealth is better than poverty and ought to be chosen. But wealth does this in only a portion of the actual cases. Elsewhere the desire to gain wealth and the fear to lose it are our chief breeders of cowardice and propagators of corruption. There must be thousands of conjunctures in which a wealth-bound man must be a slave, whilst a man for whom poverty has no terrors becomes a freeman.
Companies that grow create wealth. This, in turn, allows people to have jobs that create more growth and more wealth. It's a virtuous cycle.
Men pursue riches under the idea that their possession will set them at ease, and above the world. But the law of association often makes those who begin by loving gold as a servant finish by becoming themselves its slaves; and independence without wealth is at least as common as wealth without independence.
There are remuneration packages that will no longer be tolerated because they bear no relation to merit. That those who create jobs and wealth may earn a lot of money is not shocking. But that those who contribute to destroying jobs and wealth also earn a lot of money is morally indefensible.
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