Thomas Kaplan Quotes
I've reached a point where I feel the only asset I have confidence in is gold.
Kaplan, Thomas. Interview by Gregory Zuckerman. The Wall Street Journal, Dow Jones & Company, 2010.
There has always been a fear of inflation and currency debasement by governments. Since ancient times, rulers issued coins and when they were made of cheap metals like copper or iron, the ruler could mint as much as he wanted and when he did so the value went down. By using only precious metals, gold and silver, for coins, there would be a natural restraint on government. Garfield was one of those who believed that we should always have money of gold and silver. The United States would use that principle for the next century even backing its paper money with gold and silver. In the Nixon administration the United States abandoned the gold standard. Today, it is the ability of a country to produce things that maintains value of paper money which has been supplanted in many cases by electronic money.
The Stock Market went up slightly as a result of his efforts.
Thomas Scott Kaplan is an American billionaire businessman, investor, philanthropist and art collector. Kaplan is the world's largest private collector of Rembrandt's works.