“Gold is money. Everything else is credit.”

—  J. P. Morgan

Attributed

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Gold is money. Everything else is credit." by J. P. Morgan?
J. P. Morgan photo
J. P. Morgan 6
American financier, banker, philanthropist and art collector 1837–1913

Related quotes

J. P. Morgan photo

“[Credit] is an evidence of banking, but it is not the money itself. Money is gold, and nothing else.”

J. P. Morgan (1837–1913) American financier, banker, philanthropist and art collector

Testimony to the Pujo Committee (1912)

Thucydides photo

“they possess most gold and silver, by which war, like everything else, flourishes.”

Book VI, 6.34; "they have abundance of gold and silver, and these make war, like other things, go smoothly" ( trans. http://www.classicpersuasion.org/pw/thucydides/jthucbk6rv2.htm Benjamin Jowett)
History of the Peloponnesian War, Book VI

J. P. Morgan photo

“The first thing [in credit] is character … before money or anything else. Money cannot buy it.… A man I do not trust could not get money from me on all the bonds in Christendom. I think that is the fundamental basis of business.”

J. P. Morgan (1837–1913) American financier, banker, philanthropist and art collector

Testimony to the Pujo Committee (1912)
Untermyer: Is not commercial credit based primarily upon money or property?
Morgan: No, sir; the first thing is character.
Testimony to the Pujo Committee (1912)

Edward Bellamy photo

“An American credit card… is just as good in Europe as American gold used to be.”

Edward Bellamy (1850–1898) American author and socialist

Source: Looking Backward, 2000-1887 http://www.gutenberg.org/dirs/etext96/lkbak10.txt (1888), Ch. 13.

Debbie Macomber photo

“Maybe money can't buy love - but it can get you practically everything else.”

Debbie Macomber (1948) American writer

Source: The Perfect Christmas

Hunter S. Thompson photo

“Once I establish credit, I may be able to function. A man needs credit. Especially when he has no money.”

Hunter S. Thompson (1937–2005) American journalist and author

Letter to Dwight Martin (21 February 1964), p. 440
1990s, The Proud Highway : The Fear and Loathing Letters Volume I (1997)

Anne Robert Jacques Turgot photo

“Gold and silver are constituted, by the nature of things, money, and universal money, independent of all convention, and of all laws.”

Anne Robert Jacques Turgot (1727–1781) French economist

§ 43
Reflections on the Formation and Distribution of Wealth (1766)

Michael Lewis photo

“The CDO was, in effect, a credit laundering service for the residents of Lower Middle Class America. For Wall Street it was a machine that turned lead into gold.”

Source: The Big Short (2010), Chapter Three, " How Can A Guy Who Can't Speak English Lie?", p. 73

Related topics