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Gold is a relic from a time when government's were less trustworthy in these matters (currency debasement) than they are now.
John Maynard Keynes
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John Maynard Keynes
Age: 62 †
Born: 1883
Born: June 5
Died: 1946
Died: April 21
Businessperson
Diplomat
Economist
Mathematician
Non-Fiction Writer
Philosopher
Politician
Professor
Lord Keynes
Baron Keynes of Tilton
Matters
Gold
Philosophy
Debasement
Less
Relic
Political
Relics
Government
Trustworthy
Matter
Currency
Time
Economics
More quotes by John Maynard Keynes
... a speculator is one who runs risks of which he is aware and an investor is one who runs risks of which he is unaware.
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In truth, the gold standard is already a barbarous relic.
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All the political parties alike have their origins in past ideas and not in new ideas and none more conspicuously so than the Marxists .
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The importance of money flows from it being a link between the present and the future.
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The Economic Problem...the problem of want and poverty and the economic struggle between classes and nations, is nothing but a frightful muddle, a transitory and unnecessary muddle.
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I am sure that the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas.
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The markets are moved by animal spirits, and not by reason.
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The central principle of investment is to go contrary to the general opinion, on the grounds that if everyone agreed about its merits, the investment is inevitably too dear and therefore unattractive.
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It has been pointed out already that no knowledge of probabilities, less in degree than certainty, helps us to know what conclusions are true, and that there is no direct relation between the truth of a proposition and its probability. Probability begins and ends with probability.
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The division of the spoils between the victors will also provide employment for a powerful office, whose doorsteps the greedy adventurers and jealous concession hunters of twenty or thirty nations will crowd and defile.
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I can't remember my telephone number, but I know it was in the high numbers.
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There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.
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The numeric system was invented to help man to put order in the chaos of the world.
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I am myself impressed by the great social advantages of increasing the stock of capital until it ceases to be scarce.
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Once doubt begins it spreads rapidly.
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The duty of saving became nine-tenths of virtue and the growth of the cake the object of true religion.
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One blames politicians, not for inconsistency but for obstinacy. They are the interpreters, not the masters, of our fate. It is their job, in fact, to register the fact accompli.
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It is better to be roughly right than precisely wrong.
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In a regime of Free Trade and free economic intercourse it would be of little consequence that iron lay on one side of a political frontier, and labour, coal, and blast furnaces on the other. But as it is, men have devised ways to impoverish themselves and one another and prefer collective animosities to individual happiness.
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When my information changes, I alter my conclusions. What do you do, sir?
John Maynard Keynes