"Paper money is like dram-drinking, it relieves..." - Quote by Thomas Paine
Paper money is like dram-drinking, it relieves for a moment by deceitful sensation, but gradually diminishes the natural heat, and leaves the body worse than it found it. Were not this the case, and could money be made of paper at pleasure, every sovereign in Europe would be as rich as he pleased. But the truth is, that it is a bubble and the attempt vanity. Nature has provided the proper materials for money: gold and silver, and any attempt of ours to rival her is ridiculous.
More by Thomas Paine
More on Money
“Money doesn't make you happy. I now have $50 million but I was just as happy when I had $48 million.”
“Money is like the tide: It rolls in and it rolls out. If you clutch it, you are not going to keep it.”
“Nothing can be made except by makers, nothing can be managed except by managers. Money cannot make anything and money cannot manage anything.”
More on Economics
“All economic activity is by definition "high risk." And defending yesterday--that is, not innovating--is far more risky than making tomorrow.”
“The aim of New Deals is to exterminate the class of creditors and thrust all men into that of debtors. It is like trying to breedcattle with all cows and no bulls.”
“In my view, [the trade deficit] will create political turmoil at some point...Pretty soon, I think there will be a big adjustment.”