The Greatest Gold Quotes Of All Time?

[Bumble]

ADAMANT, n.  A mineral frequently found beneath a corset. Soluble in solicitate of gold.
Devil's Dictionary, by Ambrose Bierce.

[Oldun]

Surely shome mistake. This is ADAMANT

https://www.thecurrent.org/feature/2013/08/12/today-in-music-history-cheap-trick-had-their-biggest-hit

[Oldun]

I’ll do it.......feels like the klaxon will go off on an episode of QI...

 

...as good as gold.....

Edited March 5, 2020 by Oldun

[Tape]

13 hours ago, RacerCool said:

But if you buy gold and it goes higher then you will only gain. Right? Or am I missing something?

Yeah, you're missing something. Buy an oz of gold that spots for $1000, and when spot goes up $50 from the price you paid then sell it, surprisingly you're going to find out you lost "unless" you know a place that sells gold for spot and buys for spot. If you find this place let me know.

[Thelonerangershorse]

Off topic but can someone explain,

I buy a share that costs £1.00, it goes down 10% (10p) to 90p then goes back up 10% (9p) to 99p so I lost a penny.

But if I buy a share that costs £1.00, it goes up 10% (10p) to £1.10p then goes back down 10% (11p) to 99p I still lose a penny!

[RacerCool]

6 hours ago, Tape said:

Yeah, you're missing something. Buy an oz of gold that spots for $1000, and when spot goes up $50 from the price you paid then sell it, surprisingly you're going to find out you lost "unless" you know a place that sells gold for spot and buys for spot. If you find this place let me know.

Not long ago I sold a 1/4 oz platinum coin for $305, which a year before I had paid $250. How did I lose? This was an online transaction.

It sounds like you're thinking only of buying and selling from dealers, store fronts. You can buy from them for decent prices but they won't ever give you decent prices. That's why you don't sell to them unless it's a real emergency and they're your only option.

[mr-dead]

[CadmiumGreen]

12 minutes ago, Foster88 said:

We’re not the gold we buy, that lives within us. 😊 #bekind #itwillgetbetter #mentalhealthmatters #lookafteryourself #happystacking #putmentalhealthfirst

— @Foster88

[Oldun]

“Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything.” 
― Warren Buffett

 

“We have gold because we cannot trust governments” 
― Herbert Hoover

Edited March 8, 2020 by Oldun

[Serendipity]

The ancient Egyptian sun god Ra is said to have stated:“My flesh is made of gold, my bones made of silver, and my hair made of real lapis lazuli.”

The term “divine gold” was in no way blasphemous in ancient Egyptian faith; rather, it reflected people’s steadfast belief that the flesh of the gods was made of the precious metal. Seen as a carrier of divine and royal power, as a symbol of stability and brilliance, as indestructible and imperishable, gold became the symbol of survival, eternity and immortality. In ancient Egypt, gold was associated with the brilliance of the sun and believed to be the substance from which the skin of the gods was made; it was also believed to be the material into which the pharaohs, as sons of the sun god, would eventually transform, thus overcoming their mortality. Ancient Egyptian gold was seen as a a symbol of immortality, as a sacred metal with magical powers that would protect its holders from harm. It was therefore something that kings, king's wives, princes and princesses, and later officials and subjects, would carry with them both in this world and in the hereafter, using it as a means not only of adornment but also of securing their power and rule in the afterlife. 

[Tape]

On 06/03/2020 at 08:11, RacerCool said:

Not long ago I sold a 1/4 oz platinum coin for $305, which a year before I had paid $250. How did I lose? This was an online transaction.

It sounds like you're thinking only of buying and selling from dealers, store fronts. You can buy from them for decent prices but they won't ever give you decent prices. That's why you don't sell to them unless it's a real emergency and they're your only option.

I only buy from reputable dealers and a few will buy your gold depending on the piece for current "spot price" and some premium 1oz coins will bring "spot + 1%"

 

[5huggy]

On 06/03/2020 at 12:14, Thelonerangershorse said:

Off topic but can someone explain,

I buy a share that costs £1.00, it goes down 10% (10p) to 90p then goes back up 10% (9p) to 99p so I lost a penny.

But if I buy a share that costs £1.00, it goes up 10% (10p) to £1.10p then goes back down 10% (11p) to 99p I still lose a penny!

Dont forget - unless you have DMA (Direct market access) then you have to take into account the cost of a brokers fee for the initial purchase and again charged to sell

The BEST way to minimise these costs is dilution factor - BUY in SIZE! - that way buy and sell broker costs, are dived per share, across a LARGE number of shares!

[5huggy]

"Gold Is Money, Everything Else Is Credit" JP Morgan - Wtf!?

The quote in the title, “Gold Is Money, Everything Else Is Credit” is attributed to JP Morgan himself while testifying in front of Congress back in 1912 shortly before his death.

Whole article found here - - > > https://www.milesfranklin.com/gold-is-money-everything-else-is-credit-jp-morgan/

[5huggy]

To heck with it - I am posting here the WHOLE article as I think it is an awesome analysis worthy of disseminating to TSF 

The highlights are mine! and IMHO correct!

***********************

The quote in the title, “Gold Is Money, Everything Else Is Credit” is attributed to JP Morgan himself while testifying in front of Congress back in 1912 shortly before his death.  I will explore this quote because it was exactly 100% correct back then and even more pertinent today, I will explain.  Before I get to this I would like to mention a couple of things.  First, JP Morgan did not say this; he actually said, “Money is gold, nothing else.”  Secondly, back in 1912 Congress was rarely lied to if ever.  Whereas today hearing the truth is as rare as hens teeth.  Please recall our past Federal Reserve chairman Ben Bernocchio as he lied to Congress when he replied, “No” when asked if gold was money.

JP Morgan was in my opinion trying to convey the idea (his knowledge) that gold was the money itself and everything else was a “derivative” (derived) from this money.  He understood that any currency, any debt, any equity or receipt had counterparty risk.  He understood that “promises” were made to be broken.  They could be outright broken through fraud or default or broken slowly through the debasement of a currency.  He also understood that the longer the chain of promises became, the more likely that one link in the chain would ultimately break rendering all of the links worthless.

Fast forward 100 years and we now live in a world where nearly everything is touched by or actually is credit.  The various currencies themselves, all debt of course, stocks, real estate, commodities…everything.  Think about it, margin debt across the globe is at an all-time high.  Real estate has been borrowed against by a bigger percentage than any time in history.  Even commodities have become a “credit casino,” just ask the Chinese who have recently found out that the underlying commodities (including gold) collateral for loans may never have even existed.  Then of course we have $1.4 quadrillion with a very large “Q” of derivatives hanging over the financial world.  This is all credit and it all has counterparty risk.

I want to be very basic here for those not up to speed yet and it’s always good to review and think about the basics for those who are.  “Counterparty” risk is the risk that whoever you are doing business with does not or cannot perform his side of the bargain.  The other party may go bankrupt themselves or someone that they do business with goes under and makes it impossible for your direct counterparty to perform.  There is of course also the risk of fraud, your counter party gets your money and runs which might cause you to not be able to perform on a contract with someone else.  It is important to understand that counterparties may fail to perform for any number of reasons and it could be any number of counterparties that the “failure” comes from.  The important thing to understand is that counterparty risk can occur out of nowhere, it can occur at any time and it can occur from places that you’ve never dreamed of.

Why am I talking about counterparty risk?  Simple, because it exists everywhere and in almost everything we do or touch.  You go to work and you “trust” that you’ll be paid on pay day.  You put your check in the bank and you “trust” that when you return, you can retrieve the funds with a little bit of interest.  You go to the store and “trust” that they will accept your credit or debit card and that they will have the items stocked that you are looking for.  The store must have the same “trust” with their banks and suppliers.  The suppliers must trust their middlemen and banks and so do the raw producers.  This “trust” must also exist between banks, brokers, insurance companies and even central banks, treasuries and sovereign nations themselves.

The above has always and will always be the case, the world must run on “trust” but there is now a problem.  The problem is that “credit” has engulfed the world.  And the danger that a counterparty cascade begins because the risk of a default has never been greater than it is now.  This is because leverage and debt ratios have never been higher.  It is no longer “if,” it is only a mathematical question of “when.”  Again I will go back to a question that I asked you a few weeks back, “Do you believe that the U.S. government is broke?”  A vast majority would now answer “yes” to this question whereas 6 years ago it was considered heresy to even speak about it.  If you answered yes then you are also saying that you believe the house of cards financial system that is based 100% on credit will also come down.  The derivatives chain will break and that everything financial will have a worth or “value” far lower than it does now…because of counterparty failures creating a credit contraction.  Just think back to late 2008 when even central banks became distrustful of other central banks…this next episode will be far worse.

OK, so back to the title and quote by JP Morgan.  “Gold is money, everything else is credit.”  What he was trying to explain is that physical gold in your possession has no counterparty risk.  Gold does not “derive” its value from anything or anywhere.  Gold is value because it is money itself in the most pure and basic form.  Gold will be THE last man standing so to speak when everything falls down around it.  Not only will it still be standing, it will be standing tall because of fear and panic.  When the credit edifice comes down, people from all walks of life (including governments themselves) will seek safety.  For the past 80 years, “safety” was considered U.S. Treasury debt but… it’s different now.  It is different because the Treasury will not be seen as a safe haven but rather a place to flee from.  Gold’s “value” will benefit and rise as much of the credit created over the last 100 years seeks a place to hide.

I know that this piece is most very basic in nature but as I mentioned earlier I believe it’s important to every once in a while “refresh” while newcomers absorb the logic.  Truly folks this is what it’s all about and why you own (or should) own gold.  The financial system is mathematically going to come down and the best position to have when this occurs is to have “money.”  Not fake money watch, not receipts or promise money…REAL money because the financial system will need to be restarted.  It will be “restarted” by those who have the money to do it, hopefully you are part of this because those who are will have legacy to forward to future generations.

Edited March 15, 2020 by 5huggy
Bad link - thanks @roy

[Platinum]

Wise words.

[8phwt]

El Dorado

Edgar Allan Poe - 1809-1849

   Gaily bedight,
   A gallant knight,
In sunshine and in shadow,
   Had journeyed long,
   Singing a song,
In search of Eldorado.

   But he grew old,
   This knight so bold,
And o'er his heart a shadow
   Fell as he found
   No spot of ground
That looked like Eldorado.

   And, as his strength
   Failed him at length,
He met a pilgrim shadow;
   "Shadow," said he,
   "Where can it be,
This land of Eldorado?"

   "Over the mountains
   Of the moon,
Down the valley of the shadow,
   Ride, boldly ride,"
   The shade replied,--
"If you seek for Eldorado!"

Edited March 15, 2020 by 8phwt

[dicker]

“Don’t worry Tony, I am doing to sell half of Britain’s Gold reserves and swap them into Euros, we can then give the Euros away to Europe and the precious migrants, all of whom will be Doctors, Web designers, Dentists and the such....”. 
 

Artistic license applies.  
 

Best Dicker

[Auricsstash]

“They can’t print more gold”

unknown

[KevjustKev]

Here you go

 

An oldie but, goldie?

 

[Abyss]

[Oldun]

“If I had a penny for every time someone mentioned the gold standard, I’d be a trillionnaire.”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Me just now

[Minimalist]

"The modern mind dislikes gold because it blurs out unpleasant truths"

Joseph Schumpeter

[sovereignsteve]

Sovereigns are generally the answer to every question 

 

Me, just now 😀

[Bxlsteve]

19 minutes ago, sovereignsteve said:

Sovereigns are generally the answer to every question 

 

Me, just now 😀

I saw that in your post and was laughing alone ... 

[Zhorro]