Hello. This post is a collection of 20 quotes from the book - Gold: The Once and Future Money by Nathan Lewis. I hope you enjoy reading these quotes.
Gold: The Once and Future Money Quotes
I have never seen a correct and complete description of how today’s central banks work, nor have I seen a lot of evidence that others understand their workings, even central bankers themselves.
Monetary theory could be grasped by a dedicated student in less than a year, which is about nine years less than the time required for rocket science—unless, of course, that student already has an advanced degree in economics, in which case it may take a lifetime, if he or she is lucky.
The governments and citizens cry out together for good money, stable money, boring money, forever the same, supremely reliable, the bedrock upon which the extended order can flourish, not this stuff that wiggles and waggles unpredictably every second of every day, a never-ending chaos that saps the vitality of all countries’ economies.
Humans have decided over thousands of years of experimentation that gold is the best approximation of stable value available, and one that, despite its minor flaws, works rather splendidly in practice. Gold’s value varies very little. Gold thus serves as the measuring rod against which the value of currencies can be measured. Gold has been used as a monetary benchmark for millennia, its stability confirmed by centuries of experience.