Excessive Optimism Sows The Seeds

Before I Met Ayn Rand, I Was A Logical Positivist, And Accordingly, I Didn't Believe In Absolutes, Moral Or Otherwise. If I Couldn't Prove A Proposition With Facts And Figures, It Was Without Merit.

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.

I Was A Fairly Good Amateur Musician, And I Was An Average Professional. But The One Thing I Saw Was That The Big Band Business Was Fading.

No Matter How Skillful The Trading Scheme, Over The Long Haul, Abnormal Returns Are Sustained Only Through Abnormal Exposure To Risk.

The Abandonment Of The Gold Standard Made It Possible For The Welfare Statists To Use The Banking System As A Means To An Unlimited Expansion Of Credit. In The Absence Of The Gold Standard, There Is No Way To Protect Savings From Confiscation Through Inflation. There Is No Safe Store Of Value. Deficit Spending Is Simply A Scheme For The Hidden Confiscation Of Wealth. Gold Stands In The Way Of This Insidious Process. It Stands As A Protector Of Property Rights. If One Grasps This, One Has No Difficulty In Understanding The Statists' Antagonism Toward The Gold Standard.