Things Worth Remembering About Gold and Silver: 2024 Edition
Each year, we like to wrap up the end of December with some important quotes about gold and silver. This year is no different… here is our list of things worth remembering about gold and silver…
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Now when Jesus was born in Bethlehem of Judaea in the days of Herod the king, behold, there came wise men from the east to Jerusalem… When they saw the star, they rejoiced with exceeding great joy. And when they were come into the house, they saw the young child with Mary his mother, and fell down, and worshipped him: and when they had opened their treasures, they presented unto him gifts; gold, and frankincense and myrrh.
- Matthew 2
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There has been a significant increase in demand from central banks to replace dollars with gold, and we’re just at the beginning of that trend. Gold will go up and the dollar will go down, so you’d be better off keeping your investment reserves in gold at this point.
- John Paulson
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In order to back all outstanding currency with gold reserves, the price of gold would have to reach $8,800 per ounce, roughly five times higher than it is today.
If gold were to cover all money created by the Federal Reserve (which is equal to its current liability of $8.4 trillion) the price of gold would have to be upwards of $32,000 per ounce (nearly eighteen times the current price of gold).
- Alex Gloyy, Eurasian Review
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“True, governments can reduce the rate of interest in the short run. They can issue additional paper money. They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression.”
- Ludwig von Mises
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“We now understand better how little we understand about inflation.”
– Federal Reserve Chairman Jerome Powell
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Ray Dalio, founder of Bridgewater Associates, gives each of his grandchildren a gold coin for every holiday and birthday. The yellow metal is the best way to get young people excited about saving, he says.
But the gift comes with special instructions. “They can’t spend the gold coin. They have to save that gold coin and only use it in an emergency,” he tells Barron’s. “In their lifetime, the goal is to pass the coin onto their kids.”
Dalio says the gift helps the next generation appreciate the value of saving.
- Barron’s
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Gold’s superior nature is honored in our daily usage of terms like gold prizes, golden ages, the golden rule, golden mean, and good as gold. In the East gold figures prominently in holy places and sacred occasions: rituals, festivals, and marriages.
- Jim Clark, Real Money for Free People
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