Gold is money, everything else is credit. Posted on February 1, 2019 February 2, 2019 by Gold Telegraph. 01 Feb. People have been obsessed with gold since the beginning of civilization. Both the Egyptians and ancient Greeks valued the precious metal as a status symbol. The more gold you had, the higher you ranked in the natural order of things. What Did J.P. Morgan Mean? - Goldmoney Aug 17, 2016 · That [credit] is an evidence of banking, but it [credit] is not the money itself. Money is gold, and nothing else. Samuel Untermeyer was chief counsel of the Pujo Sub-Committee of the House Committee on Banking and Currency, which was formed to investigate the influence of Wall Street bankers and financiers over the nation's money and credit. Gold is Money, Everything Else is Credit “Gold is Money, everything else is credit” This quote comes from JP Morgan, one of the most well known financiers in business history. JP knew back then what will always stand true… that gold is the only true form of real money. Having gold as a diversification protects your other investments by creating a form of insurance for your Gold is Money and Everything Else is Credit⚠️But Precious ...
Credit, credibility, gold, money. We hereby want to refer to the quote of JP Morgan “Gold is money, everything else is credit”. Credit and credibility are of course inextricably linked to each other, without credibility no credit. Credibility refers to the objective and subjective components of the believability of a source or message. Gold & Silver Are Money—Everything Else Is Credit "Money is gold, and nothing else" was said by John Pierpont (J. P.) Morgan on December 19, 1912 at the Pujo Committee of the House of Representatives that was investigating the power of Wall Street. Morgan's statement was featured in newspapers the next day. Gold and silver are money. Everything else is credit ...
Sep 05, 2014 · We must understand what money actually is, its CREDIT Plain and Simple! J.P. Morgan way back in 1912 Said "Gold Is Money, Everything Else Is Credit" and he was right! Gold is Money, Everything Else is Credit -JP Morgan “Gold is Money, Everything Else is Credit” - J.P Morgan. Many argue that gold isn’t money but instead a commodity. It’s, in my opinion, the world’s oldest money. If Gold isn’t money, then why does the US own 8000 tonnes of it? You don’t see them store copper or silver in the same volumes, and with the same security as in Fort Knox. 70 Best Quotes and Proverbs About Gold and Silver in History “Gold is money. Everything else is credit.” – J. P. Morgan “For more than two thousand years, gold’s natural qualities made it man’s universal medium of exchange. In contrast to political money, gold is honest money that survived the ages and will live on long after the political fiats of today have gone the way of all paper.”
Gold is money, everything else is credit. By. SGT - February 3, 2019. 0. 401. Facebook. Twitter. Google+. Pinterest. WhatsApp. Linkedin. Email. from Gold Telegraph: People have been obsessed with gold since the beginning of civilization. Both the Egyptians and ancient Greeks valued the precious metal as a status symbol. The more gold you had Gold Is Money - Everything Else Is Just Credit | Cancel ... Sep 05, 2014 · We must understand what money actually is, its CREDIT Plain and Simple! J.P. Morgan way back in 1912 Said "Gold Is Money, Everything Else Is Credit" and he was right! Gold is Money, Everything Else is Credit -JP Morgan “Gold is Money, Everything Else is Credit” - J.P Morgan. Many argue that gold isn’t money but instead a commodity. It’s, in my opinion, the world’s oldest money. If Gold isn’t money, then why does the US own 8000 tonnes of it? You don’t see them store copper or silver in the same volumes, and with the same security as in Fort Knox. 70 Best Quotes and Proverbs About Gold and Silver in History “Gold is money. Everything else is credit.” – J. P. Morgan “For more than two thousand years, gold’s natural qualities made it man’s universal medium of exchange. In contrast to political money, gold is honest money that survived the ages and will live on long after the political fiats of today have gone the way of all paper.”
asked about the role of gold in the financial system. Money is anything that is generally accepted The Theory of Money and Credit, by Ludwig von. Mises Untermyer: But the basis of banking is credit, is it not? Morgan's observation that “Money is gold, and nothing else,” was right in two respects. Of course, gold exists in minute quantities in everything from seawater to distant asteroids, but Since 1999, the dollar has fallen in value from about 123 mg of gold to less than 21 mg To quote JP Morgan himself, gold is money, everything else is credit. Credit theories of money, also called debt theories of money, are monetary economic theories that the essential nature of money is credit (debt), at least in eras where money is not backed by a commodity such as gold. The lower down the hierarchy, the easier it is to view the asset as reflecting someone else's debt. Gold has an allure and a price tag but some would say, no real intrinsic value; so why do Wealth Management · Budgeting/Saving · Banking · Credit Cards · Home They contend that in a modern economic environment, paper currency is the To assign value to a metal, it must be somewhat rare—so that not everyone is Gold is money; everything else is credit. This saying, attributed to the original J. P. Morgan in response to the question, “What is money?” is still as true today as it Gold is money, everything else is credit. The government/Treasury is well aware of this and they know gold has value and always will. But they will never admit