Gold, unlike all other commodities, is a currency...and the major thrust in the demand for gold is not for jewelry. It's not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
Eventually we grow weary of seeking treasures outside
ourselves and we begin to look within. There we discover
that the gold we sought, we already are.
But not gold in commercial quantities, Just enough gold to make the engagement rings And marriage rings of those who owned the farm. What gold more innocent could one have asked for?
Remember what we're looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
Tis a blushing shame-faced spirit that mutinies in a man's bosom. It fills a man full of obstacles. It made me once restore a purse of gold that (by chance) I found. It beggars any man that keeps it.
We have made it possible, without gold and without foreign exchange, to maintain the value of the German mark. Behind the German mark stands the German capacity for work, while some foreign countries, suffocated by gold, have been compelled to devalue their currencies.