“Tangibles trump conceptuals. Modern fiat currencies are generally accepted, but have essentially no backing. Because they are largely a by-product of interest-bearing debt, modern currencies are destined for inflation. In the long run, inflation dooms fiat currencies to collapse. The majority of your assets should be invested in productive farmland and other tangibles such as useful hand tools. After you have your key logistics squared away, anything extra should be invested in silver and gold.”

Quotes from Crash Proof (2006)

Source: Seven Great Statesmen in the Warfare of Humanity with Unreason (1915), p. 170-171
Context: Turgot's attempt... showed how the results that had followed Law's issues of paper money must follow all such issues. As regards currency inflation, Turgot saw that the issue of paper money beyond the point where it is convertible into coin is the beginning of disaster—that a standard of value must have value, just as a standard of length must have length, or a standard of capacity, capacity, or a standard of weight, weight. He showed that if a larger amount of the circulating medium is issued than is called for by the business of the country, it will begin to be discredited, and that paper, if its issue be not controlled by its relation to some real standard of value, inevitably depreciates no matter what stamp it bears. Turgot developed his argument [on currency inflation] with a depth, strength, clearness, and breadth, which have amazed every dispassionate reader from that day to this. It still remains one of the best presentations of this subject ever made; and what adds to our wonder is that it was not the result of a study of authorities, but was worked out wholly from his own observation and thought. Up to this time there were no authorities and no received doctrine on the subject; there were simply records of financial practice more or less vicious; it was reserved for this young student, in a letter not intended for publication, to lay down for the first time the great law in which the modern world, after all its puzzling and costly experiences, has found safety.

L. Randall Wray (2015), Why Minsky Matters: An Introduction to the Work of a Maverick Economist. p. 66

Speech at the seminar " The Role of Industry in the Growth of Brazil https://www.fazenda.gov.br/divulgacao/noticias/2010/setembro/governo-nao-pretende-taxar-investimentos-estrangeiros-diz-mantega" organized by the Getulio Vargas Foundation, September 27, 2010

Source: The Four Pillars of Investing (2002), Chapter 4, The Perfect Portfolio, p. 108.

December 8, 2010, video posting — www.kgun9.com, 9OYS Investigates: Who is Jared Loughner?, KGUN9, January 8, 2011, 2011-01-10 http://www.kgun9.com/Global/story.asp?S=13809065,

Source: And the Mountains Echoed