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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.

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Absence Confiscation God Inflation Protect Save

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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Belief Context Dramatical General Growth Institution Market Occur Risk Structure
It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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Adherence Business Deal Gain Honest Honesty Satisfaction Strict Success
The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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Always Debt Default Money Print Probability States United
I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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Rules cannot take the place of character.
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Character Place Rule
We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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Earning Exhibited Inflation Inverse Past Price Ratio Relationship See
All taxes are a drag on economic growth. It’s only a question of degree.
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Degree Drag Economic Growth Only Question Tax
History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Aftermath Dealt History Period Premium Protracted Risk
Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
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Central Cloud Country Number Outlook Projection Tendency Uncertain
The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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Whatever you tax you get less of.
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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Academic Government Jargon Mechanism More Nothing Scheme State Strip Support Welfare
I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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All Always Argue Benefited Country Draw Fact Immensely Over People World
History demonstrates that participants in financial markets are susceptible to waves of optimism.
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Demonstrate Excessive Financial History Optimism Particular Wave
I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
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Hesitate Issue Other Some Table Throw

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