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Gold Quotes
“Whatever the speed of hyperinflation, ordinary Americans will have fewavailable options to protect themselves—during crises, peoples’ firstinstinct is to resort to more “stable” fiat currencies of neighboringcountries, like the Canadian Dollar and the Mexican Peso, but theiravailability will prove limited and complicated as people will mostlikelyhave to cope with governmentally-imposed capital controls. Next, peopleinstinctively convert hyperinflating currencies to hard assets likeland and real estate, but sellers refuse to accept the hyperinflatingcurrency and quickly disappear from the market. Having run out ofmeaningful options to protect themselves, ordinary people will havelittlechoice, but to convert their dollars to hard currencies like gold andsilver, thus driving their prices much higher. On the other hand,centralbanks have no other options but gold. First, in times of crises,centralbanks fear the risk inherent in all fiat currencies. Moreover, not eventhe largest fiat currencies will accommodate their need to converttheir reserves. Also, it is not practical for central banks to holdrealestate and land. Thus, central banks will have no alternative, but toscramble to convert their reserves to the only hard currency known toman—gold. Historically, in times of crises, gold has always been theultimate safe haven. When people and central banks flee en masse togold, itsvalue has always skyrocketed. This time, it will be no different.”Krassimir Petrov++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++“Since 1980 the consumer price index has averaged a 3.8% increase peryear. This rate of increase applied to the ‘fair value’ 1980 gold priceof $280 over 25 years would suggest that in 2005, the relative economicvalue of gold should currently be $733 an ounce.”Ken Gerbino+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++“No wonder governments don’t like gold. No wonder the central banksdespise and fear gold. They fear gold because when gold rises, it’stelling the world that their governments are debasing the currency.”Richard Russell++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++“I find it simply fascinating how little is currently being writtenabout the big bull market in gold. Where anything is written, it'salmosta warning that "gold is volatile," that "speculators are driving goldup," or that "the gold shorts are simply being squeezed." Never a wordabout the Fed creating new inflationary oceans of liquidity, never aword about the dollar losing its purchasing power, never a word aboutrealmoney rising against all other asset classes. Silence reigns regardingwhat could be the most significant bull markets in recent history.”Richard Russell+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++“Gold is to monetary policy what the North Star is to determininglocation.”Steve Forbes+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++“With the risk of systemic default, gold’s greatest drawback becomesits greatest advantage; it cannot default.”Steven Lachance++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++“I think we’ll have another bull-market in Gold, but this time it isgoing to the moon!”Ferdinand Lips 2000+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++“America’s credit inflation since 2000 is the worst in history, asmeasured by credit growth relative to GDP growth. In essence, theGreenspanFed replaced the prior bad equity bubble with a much bigger and muchworse housing bubble.”Kurt Richebacher++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++“The major monetary metal in history is silver, not gold.”Milton Friedman++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++“Inflation is always a monetary phenomenon, and the monetary phenomenonof the current era is one in which central banks around the world areincreasing their money supplies. The rising price of gold is obviouslyreflecting this inflationary phenomenon.”Richard Russell++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++Even though we are extremely bullish for the price of gold at themoment, we favorize silver, because we think that not only because ofthe many fundamentally different reasons silver will appreciate much morethan gold in the long-haul, but that seen from a short-termperspective, this long-term appreciation potential is now becoming reality.”Stephan Bogner++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
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