Along the avenue of cypresses,
All in their scarlet cloaks and surplices
Of linen, go the chanting choristers,
The priests in gold and black, the villagers. . . .
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.
You could take all the gold that's ever been mined, and it would fill a cube 67 feet in each direction. For what that's worth at current gold prices, you could buy all -- not some -- all of the farmland in the United States. Plus, you could buy 10 Exxon Mobils, plus have $1 trillion of walking-around money. Or you could have a big cube of metal. Which would you take? Which is going to produce more value?
[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.
The fields from Islington to Marybone, To Primrose Hill and Saint John's Wood, Were builded over with pillars of gold; And there Jerusalem's pillars stood.
What motivates most gold purchasers is their belief that the ranks of the fearful will grow ... As 'bandwagon' investors join any party, they create their own truth - for a while.