A Quote by Rick Santelli
If you trade in paper, the notion of many who trade gold - the Ayn Randers - if the financial world comes to an end, they're going to have the gold. If you're playing in ETFs, you're going to have a piece of paper.
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I don't even look at gold as gold anymore. Gold is just another piece of paper.
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.
Most paper money initially existed as a substitute for gold. That's what gave it value. But right now what gives a currency value is other currency. Most countries hold reserves and the reserves are other currencies. If you are a backing up the euro with the dollar, what's backing up the dollar? I don't think it is going to go to a point where all you have is coins and bars of gold, but I do think that we are going to have to go back to a monetary system based in gold, not based on paper.
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.
Lawyers love paper. They eat, sleep and dream paper. They turn paper into gold, and their files are colorful and their language neoclassical and calli-graphically bewigged.
When I'm talking to somebody, I'll put a piece of paper on the table and I'll write what I call a conversation summary - notes about the conversation on the piece of paper. At the end of the conversation, I'll take a picture on my phone and give the other person the original piece of paper.
Gold is unique because it has the age-old aspect of being viewed as a store of value. Nevertheless, it’s still a commodity and has no tangible value, and so I would say that gold is a speculation. But because of my fear about the potential debasing of paper money and about paper money not being a store of value, I want some exposure to gold.
Christmas always rustled. It rustled every time, mysteriously, with silver and gold paper, tissue paper and a rich abundance of shiny paper, decorating and hiding everything and giving a feeling of reckless extravagance.
Miners produce the bullion. If there is going to be more demand for gold from investors and central banks, where is the gold going to come from? They have to dig it out of the ground and sell it. As the price of gold goes higher, their profit margins increase. So if you are very bullish like I am and think there is going to be a big increase in gold, it's a huge opportunity for miners.
Before I got in the UFC, I wrote down on a piece of paper a goal that I was going to make it to the UFC in 2015 and then I'll be the world champion before 2017 so I'm right on track. I pull out that piece of paper all the time and look at it. It's motivation.
What I want to know is this: Are the stars gold paper or is the gold paper stars?
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.
At present, financial crises occur, chiefly because the paper currency is redeemable in gold only.
Did you know that wherever you find fool's gold, real gold exists somewhere nearby? This also goes for relationships and friendships. Real gold is found in the heart. For every piece of fake gold that you discard, remember that true gold isn't too far.
If I bring back only one gold people are going to say it's a disappointment. But not too many of them own an Olympic gold medal so if I get one I'm going to be happy.
The notion that somehow through a trade war or protectionism or magical thinking that we're going to return to a romanticized economic past is, in the end, going to be an illusion. And a severe disappointment to millions of decent, hard-working people.
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