The monetary managers are fond of telling us that they have substituted 'responsible money management' for the gold standard. But there is no historic record of responsible paper money management ... The record taken, as a whole is one of hyperinflation, devaluation and monetary chaos.
Henry HazlittRelated topics
chaos fond gold historic management money paper record responsible standard take telling devaluation hyperinflationRelated quotes
On investments, 1998 Where I'm from we don't trust paper. Wealth is what's here on the premises. If I open a cupboard and see, say, 30 cans of tomato sauce and a five-pound bag of rice, I get a little thrill of well-being much more so than if I take a look at the quarterly dividend report from my mutual fund.
Garrison Keillor
