--- title: "Meaning & Key Takeaway of: The reason we need to have a gold and…" description: "\"The reason we need to have a gold and silver based currency is to bring discipline to the financial system so the government can't go out and do all so..." image: "https://sms4smile.com/quotes/i/9a6/bernard-von-nothaus-33229_bad-thing_the-reason-we-need-to-have-a-gold-and-si_376314.jpg" --- # The reason we need to have a gold and silver based… ![“The reason we need to have a gold and silver based currency is to bring discipline to the financial system so the government can't go out and do all sorts of bad things.” quote by Bernard von NotHaus](https://sms4smile.com/quotes/i/9a6/bernard-von-nothaus-33229_bad-thing_the-reason-we-need-to-have-a-gold-and-si_376314.jpg) [Download](https://sms4smile.com/quotes/i/9a6/bernard-von-nothaus-33229_bad-thing_the-reason-we-need-to-have-a-gold-and-si_376314.jpg) [Open image](https://sms4smile.com/quotes/i/9a6/bernard-von-nothaus-33229_bad-thing_the-reason-we-need-to-have-a-gold-and-si_376314.jpg) > “The reason we need to have a gold and silver based currency is to bring discipline to the financial system so the government can't go out and do all sorts of bad things.” [Bernard von NotHaus](https://sms4smile.com/quotes/author/bernard-von-nothaus/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. A gold and silver currency would impose fiscal discipline, limiting government excesses. **In simple terms:** Precious metal money restrains government spending. Key Takeaway Advocate for hard money standards. Themes economics government currency Mood cautious reflective Type political economic When to use this quote - budget planning - public finance - investment strategy - policy advocacy Key Concepts monetary policy fiscal discipline Questions to Reflect On - How would a gold standard affect modern economies? - Can fiscal discipline be achieved without metal backing? A Different Perspective Hard currencies may limit flexibility in crises. ★ ★ ★ ★ ★ No ratings yet [Bad things](https://sms4smile.com/quotes/about/bad-things/) [Currency](https://sms4smile.com/quotes/about/currency/) [Discipline](https://sms4smile.com/quotes/about/discipline/) [Financial system](https://sms4smile.com/quotes/about/financial-system/) [Gold](https://sms4smile.com/quotes/about/gold/) [Gold and silver](https://sms4smile.com/quotes/about/gold-and-silver/) [Government](https://sms4smile.com/quotes/about/government/) [Reason](https://sms4smile.com/quotes/about/reason/) [Silver](https://sms4smile.com/quotes/about/silver/) ## Related quotes > [When I was on tour, people would say "We don't need a value-based currency, we can go out and buy gold and silver with…](https://sms4smile.com/quotes/bernard-von-nothaus/when-i-was-on-tour-people-would-say-we-don-t-need-a-value-based/) [Bernard von NotHaus](https://sms4smile.com/quotes/author/bernard-von-nothaus/) > [What we're trying to look for is a process that is not responding to political pressures, but one that is responding to economic reality,…](https://sms4smile.com/quotes/lindsey-graham/what-we-re-trying-to-look-for-is-a-process-that-is-not-responding-to/) [Lindsey Graham](https://sms4smile.com/quotes/author/lindsey-graham/) > [I believe that through knowledge and discipline, financial peace is possible for all of us.](https://sms4smile.com/quotes/dave-ramsey/i-believe-that-through-knowledge-and-discipline-financial-peace-is/) [Dave Ramsey](https://sms4smile.com/quotes/author/dave-ramsey/) > [“Money is a powerful force. don't use it against you. 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It…](https://sms4smile.com/quotes/robert-kiyosaki/money-is-a-powerful-force-don-t-use-it-against-you-if-your-self/) [Robert Kiyosaki](https://sms4smile.com/quotes/author/robert-kiyosaki/) > [The best restraint is old-fashioned market discipline, in which financial traders know that they, personally, will lose a ton of money if they take…](https://sms4smile.com/quotes/david-ignatius/the-best-restraint-is-old-fashioned-market-discipline-in-which/) [David Ignatius](https://sms4smile.com/quotes/author/david-ignatius/) > [President Obama has a good sense not just of the economic requisites for financial crisis firefighting but also how you build political support for…](https://sms4smile.com/quotes/lael-brainard/president-obama-has-a-good-sense-not-just-of-the-economic-requisites/) [Lael Brainard](https://sms4smile.com/quotes/author/lael-brainard/) > [No price is too high to pay to try to make the financial system go on a little bit longer. 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But the old-economy…](https://sms4smile.com/quotes/alan-greenspan/we-may-be-in-a-rapidly-evolving-international-financial-system-with/) [Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/) > [The economic costs, the financial costs, the job losses, the income losses, the fiscal costs of bailing out financial system are becoming larger and…](https://sms4smile.com/quotes/nouriel-roubini/the-economic-costs-the-financial-costs-the-job-losses-the-income/) [Nouriel Roubini](https://sms4smile.com/quotes/author/nouriel-roubini/) > [We need to ensure that the government agencies that are supposed to be regulating the financial system are actually doing their jobs. We must…](https://sms4smile.com/quotes/carly-fiorina/we-need-to-ensure-that-the-government-agencies-that-are-supposed-to/) [Carly Fiorina](https://sms4smile.com/quotes/author/carly-fiorina/) > [Well, as you know, we're working through a difficult period in our financial markets right now as we work off some of the past…](https://sms4smile.com/quotes/henry-paulson/well-as-you-know-we-re-working-through-a-difficult-period-in-our/) [Henry Paulson](https://sms4smile.com/quotes/author/henry-paulson/) > [We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.](https://sms4smile.com/quotes/ben-bernanke/we-do-not-expect-significant-spillovers-from-the-subprime-market-to/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [It is the policy of the federal government to use all resources at its disposal to make our financial system stronger.](https://sms4smile.com/quotes/henry-paulson/it-is-the-policy-of-the-federal-government-to-use-all-resources-at/) [Henry Paulson](https://sms4smile.com/quotes/author/henry-paulson/) > [Just as Wall Street needs to break the hold of the bonus culture, which drives risk-taking that is rational for individuals but damaging to…](https://sms4smile.com/quotes/randy-schekman/just-as-wall-street-needs-to-break-the-hold-of-the-bonus-culture/) [Randy Schekman](https://sms4smile.com/quotes/author/randy-schekman/) ## More by Bernard von NotHaus > [When I was on tour, people would say "We don't need a value-based currency, we can go out and buy gold and silver with…](https://sms4smile.com/quotes/bernard-von-nothaus/when-i-was-on-tour-people-would-say-we-don-t-need-a-value-based/) [Bernard von NotHaus](https://sms4smile.com/quotes/author/bernard-von-nothaus/) > [The problem is that people really just don't care and they have been "educated" not to care about the monetary system: that it's boring,…](https://sms4smile.com/quotes/bernard-von-nothaus/the-problem-is-that-people-really-just-don-t-care-and-they-have-been/) [Bernard von NotHaus](https://sms4smile.com/quotes/author/bernard-von-nothaus/) > [When the money goes bad, everything else goes bad.](https://sms4smile.com/quotes/bernard-von-nothaus/when-the-money-goes-bad-everything-else-goes-bad/) [Bernard von NotHaus](https://sms4smile.com/quotes/author/bernard-von-nothaus/) > [When it comes to the Federal Reserve, there's an awful lot of books out there; in my library, I bet I've got 200 books…](https://sms4smile.com/quotes/bernard-von-nothaus/when-it-comes-to-the-federal-reserve-there-s-an-awful-lot-of-books/) [Bernard von NotHaus](https://sms4smile.com/quotes/author/bernard-von-nothaus/) > [Germany doesn't have a Bill of Rights, England doesn't have a Bill of Rights, nobody else has a Bill of Rights. 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Nor would I EVER want to be the government - I don't know how you feel about government, but I'm…](https://sms4smile.com/quotes/bernard-von-nothaus/i-m-not-the-government-nor-would-i-ever-want-to-be-the-government-i/) [Bernard von NotHaus](https://sms4smile.com/quotes/author/bernard-von-nothaus/) > [The physical manifestation of gold is nothing more than the physical manifestation of value itself.](https://sms4smile.com/quotes/bernard-von-nothaus/the-physical-manifestation-of-gold-is-nothing-more-than-the-physical/) [Bernard von NotHaus](https://sms4smile.com/quotes/author/bernard-von-nothaus/) > [I'm very proud to say I only took one course in economics in college, and it was on Saturday morning - Tuesday, Thursday and…](https://sms4smile.com/quotes/bernard-von-nothaus/i-m-very-proud-to-say-i-only-took-one-course-in-economics-in-college/) [Bernard von NotHaus](https://sms4smile.com/quotes/author/bernard-von-nothaus/) > [Every statute for terrorism requires violence.](https://sms4smile.com/quotes/bernard-von-nothaus/every-statute-for-terrorism-requires-violence/) [Bernard von NotHaus](https://sms4smile.com/quotes/author/bernard-von-nothaus/) > [Most people are cowards.](https://sms4smile.com/quotes/bernard-von-nothaus/most-people-are-cowards/) [Bernard von NotHaus](https://sms4smile.com/quotes/author/bernard-von-nothaus/) > [Appeal can't happen until I've been sentenced.](https://sms4smile.com/quotes/bernard-von-nothaus/appeal-can-t-happen-until-i-ve-been-sentenced/) [Bernard von NotHaus](https://sms4smile.com/quotes/author/bernard-von-nothaus/) > [I may make light of being a domestic terrorist, but if they can brand me a domestic terrorist and confiscate all my materials, and…](https://sms4smile.com/quotes/bernard-von-nothaus/i-may-make-light-of-being-a-domestic-terrorist-but-if-they-can-brand/) [Bernard von NotHaus](https://sms4smile.com/quotes/author/bernard-von-nothaus/) [Explore all 15 Bernard von NotHaus quotes ](https://sms4smile.com/quotes/author/bernard-von-nothaus/) ## More Bad thing quotes > [As a child, I had a lot of older gay men taking care of me. 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