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Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it.

Ayn Rand (1963). “For the New Intellectual: The Philosophy of Ayn Rand (50th Anniversary Edition)”, p.74, Penguin
Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it.