My treasure chest is filled with gold. Gold . . . gold . . . gold . . . Vagabond's gold and drifter's gold . . . Worthless, priceless, dreamer's gold . . . Gold of the sunset . . . gold of the dawn . . .Gold of the showertrees on my lawn . . . Poet's gold and artist's gold . . . Gold that can not be bought or sold - Gold.
The obsession with gold, actually and politically, occurs among those who regard economics as a branch of morality. Gold is solid, gold is durable, gold is rare, gold is even (in certain very peculiar circumstances) convertible. To believe in thrift, solidity and soundness is to believe in some way in the properties of gold.
But, in truth, it had not exactly been gold, or even the promise of gold, but more like the fantasy of gold, the fairy dream that the gold is there, at the end of the rainbow, and will continue to be there forever - provided, naturally, that you don't go and look. This is known as finance.
There was a time when his father had looked like gold to him. Many of his seniors had looked like gold. Anybody who had attained a certain high level of education had looked like gold. Therefore, his own gold plating had been all the more painful, and he had been impatient to become solid gold himself. But once his keen eye penetrated directly to the inner layers of these other people, his efforts suddenly came to seem foolish.
The anarch is (I am simplifying) on the side of gold: it fascinates him, like everything that eludes society. Gold has its own immeasurable might. It need only show itself, and society with its law and order is in jeopardy. The anarch is on the side of gold : this is not to be construed as a lust for gold. He recognizes gold as the central and immobile power. He loves it, not like Cortez, but like Montezuma, not like Pizarro but like Atahualpa...
I wish I lived back in the Old West days, because I'd save up my money for about twenty years so I could buy a solid-gold pick. Then I'd go out west and start digging for gold. When someone came up and asked what I was doing, I'd say, "Looking for gold, ya durn fool." He'd say, "Your pick is gold." And I'd say, "well, that was easy." Good joke, huh?
We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K.
A physicist looks for causes; that does not necessarily imply that there are causes everywhere. A man may look for gold without assuming that there is gold everywhere; if he finds gold, well and good, if he doesn't he's had bad luck. The same is true when the physicists look for causes.
The major asset in this category is gold, currently a huge favorite of investors who fear almost all other assets, especially paper money (of whose value, as noted, they are right to be fearful). Gold, however, has two significant shortcomings, being neither of much use nor procreative. True, gold has some industrial and decorative utility, but the demand for these purposes is both limited and incapable of soaking up new production. Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end.
Gold is a commodity; over the long run, as we look back, it has not been a good investment. You can't look at the intrinsic value of gold as you can a business. Gold doesn't give you cash flow, and, at the end of the day, cash flow is what is important. Gold doesn't give you dividends.
I can't remember the exact quote but when I used to trade and Mr. Volcker was Fed chairman, he said something like 'gold is my enemy, I'm always watching what gold is doing', we need to think why he made a statement like that. If you're a central banker or one of the congressmen or senators, watch what gold is doing because this is a no-confidence vote in fiscal and dollar policy.
I will keep a substantial long exposure to gold -- which serves as a Jelly Donut antidote for my portfolio. While I'd love for our leaders to adopt sensible policies that would reduce the tail risks so that I could sell our gold, one nice thing about gold is that it doesn't even have quarterly conference calls.
There's gold, and it's haunting and haunting; It's luring me on as of old; Yet it isn't the gold that I'm wanting So much as just finding the gold. It's the great, big, broad land 'way up yonder, It's the forests where silence has lease; It's the beauty that thrills me with wonder, It's the stillness that fills me with peace.
Robert W. Service
It is hard to know what other way men can come to truth, to lay hold of it, if they do not dig and search for it as for gold and hid treasure; but he that does so, must have much earth and rubbish, before he gets the pure metal; sand, and pebbles, and dross usually lie blended with it, but the gold is nevertheless gold, and will enrich the man that employs his pains to seek and separate it.
When does gold ore become gold? When it is put through a process of fire. So the human being during the training becomes as pure as gold through suffering. It is the burning away of the dross. Suffering has a great redeeming quality. As a drop of water failing on the desert sand is sucked up immediately, so we must become nothing and nowhere ... we must disappear.
Bhai Sahib Singh
One day we took the children to see a goldsmith refine gold after the ancient manner of the East. He was sitting beside his little charcoal fire. ("He shall sit as a refiner"; the gold- or silversmith never leaves his crucible once it is on the fire.) In the red glow lay a common curved roof tile; another tile covered it like a lid. This was the crucible. In it was the medicine made of salt, tamarind fruit and burnt brick dust, and imbedded in it was the gold. The medicine does its appointed work on the gold, "then the fire eats it, " and the goldsmith lifts the gold out with a pair of tongs, lets it cool, rubs it between his fingers, and if not satisfied puts it back again in fresh medicine. This time he blows the fire hotter than it was before, and each time he puts the gold into the crucible, the heat of the fire is increased; "it could not bear it so hot at first, but it can bear it now; what would have destroyed it then helps it now." "How do you know when the gold is purified?" we asked him, and he answered, "When I can see my face in it [the liquid gold in the crucible] then it is pure.
I am completely honest and truthful when I say I don't want a gold for myself. I want a gold for the team. You go up there and do it as a collective group and it's so much more satisfying, I mean you look around and you see the faces and just wow, this was a team effort and we did this together. It's incredible and that's my dream. I wanna win a gold medal and see the flag go up, hear the national anthem and just know that I did it with my brothers standing next to me.