TIMELY WISDOM

Tuesday, February 11, 2014

Quotes about Money and Economics



'Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it.'
- Mark Twain




"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



“I can calculate the movement of the stars, but not the madness of men.”
- Sir Isaac Newton.


"Rule No. 1: never lose money; rule No. 2: don't forget rule No. 1"
- Warren Buffett.


"General MacArthur had been fired "so that there would be no doubt or confusion as to the real purpose and aim of our policy."
- President Harry Truman. April 1951.


"We need only take our heads out of the sand to see clearly that interventionism not only has failed to provide the promised something-for-nothing, but has led to all sorts of undesirable consequences. Indeed, many are just beginning to realize that we are moving towards disaster even though we have been on a wrong heading for decades."
- Leonard Read



"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



"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




"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



There can be few fields of human endeavour in which history counts for so little as in the world of finance. Past experience, to the extent that it is part of memory at all, is dismissed as the primitive refuge of those who do not have the insight to appreciate the incredible wonders of the present.
- J. K. Galbraith



If all else fails, immortality can always be assured by spectacular error.
- J. K. Galbraith.





Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof.
- John Kenneth Galbraith






If the facts don't fit the theory, change the facts.

- Albert Einstein.








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