In 1968, Malcolm Forbes wrote in Forbes magazine the following:

The day this country is our of the stuff, that day gold becomes what it's worth as a metal and no longer will have much significance as a monetary measurement. It isn't the gold we have that makes this nation rich, It's what we make, our knowhow, our productivity."

I cannot believe it was ignorance, but rather sheer arrogance that blinded Forbes to the basic importance of the relationship between the quality of a country's money supply and the quality of that nation itself as a producer. Bull