"For, though the origin of most of our words is forgotten, each word was at first a stroke of genius, and obtained currency, because for the moment it symbolized the world to the first speaker and to the hearer. The etymologist finds the deadest word to have been once a brilliant picture."

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Everyone asks about gold. This is the irony: just as Jim Grant tells us (correctly) that we all have faith-based paper currencies backed by nothing, it is equally fair to say that gold is a faith-based metal. It pays no dividend, cannot be eaten, and is mostly used for nothing more useful than jewelry. I would say that anything of which 75% sits idly and expensively in bank vaults is, as a measure of value, only one step up from the Polynesian islands that attached value to certain well-known large rocks that were traded.

— Jeremy Grantham