Currents Quote by Henry S. Reuss
“When the U.S. government stops wasting our resources by trying to maintain the price of gold, its price will sink to...$6 an ounce rather than the current $35 an ounce.”
About This Quote
Source Congressional Speech, 1975
If the government stops fixing gold prices, the market will naturally lower the price dramatically.
In simple terms: Free market would reduce gold price without intervention.
Key Takeaway
Allow market forces to set prices.
Themes
economics
government policy
gold market
Mood
cautious
analytical
Type
Currents:0
Economy:1
Gold:1
Gold price:1
Government:1
Politics:1
Resources:1
Trying:0
Price Gold:0
Price Sink:0
Sink Ounce:0
Maintain Price:0
When to use this quote
- policy analysis
- investment strategy
- public budgeting
Key Concepts
price mechanisms
resource allocation
inflation control
Questions to Reflect On
- What are the risks of price deregulation?
- How would lower gold affect the economy?
A Different Perspective
Political resistance may delay change.
![“The young man [Turgot] destined for an ecclesiastical career was placed within walls carefully designed to keep out all currents of new thought; his studies, his reading, his professors, his associates, all were combined to keep from him any results of observation or reflection save those…” quote by Andrew Dickson White](https://sms4smile.com/quotes/img-quotes/5d4/andrew-dickson-white-24254_associates_the-young-man-turgot-destined-for-an-ecc_3146.jpg)
