Monday, October 7, 2013


“Errors using inadequate data are much less than those using no data at all.” – Charles Babbage

“The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge.” – Stephen Hawking

“If we have data, let’s look at data. If all we have are opinions, let’s go with mine.” – Jim Barksdale
"Those entrapped by the herd instinct are drowned in the deluges of history. But there are always the few who observe, reason, and take precautions, and thus escape the flood. For these few gold has been the asset of last resort."
- Antony C. Sutton
  "For more than two thousand years gold's natural qualities made it man's universal medium of exchange. In contrast to political money, gold is honest money that survived the ages and will live on long after the political fiats of today have gone the way of all paper." - Hans F. Sennholz
  "When paper money systems begin to crack at the seams, the run to gold could be explosive." - Harry Browne
"Gold would have value if for no other reason than that it enables a citizen to fashion his financial escape from the state."
- William F. Rickenbacker
  "The paper standard is self-destructive." - Hans F. Sennholz
  "Increasingly, the wealth of the modern world has come to be represented by financial assets rather than real assets, and this to me is a very unhealthy situation, because financial assets are inherently unstable. Financial assets (currencies, bonds, mortgages, stocks, bank credit, etc.) can be quickly and violently reduced in value, or destroyed completely by either inflation or deflation." - Donald J. Hoppe

“No one in their right mind would even consider playing Russian roulette with the full faith and credit of the government of the most powerful economy in the world.”
- Mohammed El-Erian.  Pimco.
  "As fewer and fewer people have confidence in paper as a store of value, the price of gold will continue to rise. The history of fiat money is little more than a register of monetary follies and inflations. Our present age merely affords another entry in this dismal register."
Hans F. Sennholz
  "a company for carrying out an undertaking of great advantage, but nobody to know what it is".
South Sea Bubble. 1720

Oh what a tangled web we weave…
- Sir Walter Scott.

“The boom can last only as long as the credit expansion progresses at an ever-accelerated pace. The boom comes to an end as soon as additional quantities of fiduciary media are no longer thrown upon the loan market...”

“But it (the boom) could not last forever even if inflation and credit expansion were to go on endlessly. It would then encounter the barriers which prevent the boundless expansion of circulation credit. It would lead to the crack-up boom and the breakdown of the whole monetary system.”
- Ludwig Von Mises

Only two things are infinite, the universe and human stupidity, and I'm not sure about the former.
- Albert Einstein.

The world is a dangerous place to live; not because of the people who are evil, but because of the people who don't do anything about it.
- Albert Einstein.
I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones.
- Albert Einstein.

“Reader, suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself.”
- Mark Twain.

“I was gratified to be able to answer promptly, and I did. I said I didn’t know.”
- Mark Twain.

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