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Paper Money Quote of the day
Paper money is liable to be abused, has been, is, and forever will be abused, in every country in which it is permitted.
Paper money has had the effect in your State that it ever will have, to ruin commerce, oppress the honest, and open a door to every species of fraud and injustice.
Paper money is made of cotton, and I'm long cotton, by the way. One reason I'm long cotton is because Dr. Bernanke is out there running the printing presses as fast as he can.
Money, again, has often been a cause of the delusion of the multitudes. Sober nations have all at once become desperate gamblers, and risked almost their existence upon the turn of a piece of paper.
It's a huge thing when people realize across the culture that paper money is paper. And that there's no fixed value - it's all political. That all value is set by a political authority, basically.
The language of labels is like paper money, issued irresponsibly, with nothing of intrinsic value behind it, that is, with no effort of the intelligence to see, to really apprehend.
In the long run, the gold price has to go up in relation to paper money. There is no other way. To what price, that depends on the scale of the inflation - and we know that inflation will continue.
If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations.
That paper money has some advantages is admitted. But that its abuses also are inevitable and, by breaking up the measure of value, makes a lottery of all private property, cannot be denied.
More paper money cannot make a society richer, of course, it is just more printed-paper. Otherwise why is it that there are still poor countries and poor people around?
Money numbs your senses. People who touched paper money and then placed their hands in hot burning water didn't feel as much pain as those who hadn't touched money.