Since we are basically still at the very beginning of 2021, with almost everyone making predictions for what may or may not happen in the coming year, it might be a good idea to look back. NOT at what happened but rather some very topical quotes and sayings that always seem to get overlooked (or ignored), BUT which have a direct and lasting importance on what’s happening now. With some of these quotes, the government (and financial ‘smarties’) would rather you didn’t remember them, but hey, they were the ones who said them.
Oh, and thanks to our friends at BankSith.com for several of the quotes below.
Since inflation (or not) is in full buzz right now, lets begin there.
“Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man”.
– Ronald Reagan, Former President of the United States
“Inflation is the surest way to fertilize the rich man’s field with the sweat of the poor man’s brow.”
– Robert Breedlove, Founder of Parallax Digital
“When people begin anticipating inflation, it doesn’t do you any good anymore, because any benefit of inflation comes from the fact that you do better than you thought you were going to do.”
– Paul Volker, Former Chairman of the Federal Reserve
(side quote from Mr. Volker; “the only useful things banks have invented is the ATM”
“Gold Is Money, Everything Else Is Credit”
– JP Morgan (The “real one”)
“If you’re stupid enough to buy it, you’ll pay the price for it one day,”
– Jamie Dimon (current CEO of JP Morgan) on Bitcoin
(current Bitcoin price $38,000)
“But its mere existence (Bitcoin) is an insurance policy that will remind governments that the last object establishment could control, namely, the currency, is no longer their monopoly. This gives us, the crowd, an insurance policy against an Orwellian future.”
– Nassim Nicholas Taleb, Author of the Black Swan and Hedge Fund Advisor
“Paper money eventually returns to its intrinsic value – zero”
And two classics…
“We are doing God`s work.”
– Lloyd Blankfein, former CEO of Goldman Sachs
“The most terrifying words in the English language are: I’m from the government and I’m here to help”.
– Former President Ronald Reagan
There are so SO many more relevant quotes and if I left some out (I did, but who cares?), I’m stretched for time. Remember the past when you look forward. It helps.