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Top 70 Saifedean Ammous Quotes (2026 Update)
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51. “Gold’s virtual indestructibility, in particular, allowed humans to store value across generations, thus allowing us to develop a longer time horizon orientation. Initially, metals were bought and sold in terms of their weight,1 but over time, as metallurgy advanced, it became possible to mint them into uniform coins and brand them with their weight, making them far more salable by saving people from having to weigh and assess the metals every time.”

— Saifedean Ammous

Saifedean Ammous Quote: “An asset that holds its value is preferable to an asset that loses value, and savers who want to choose a medium of exchange will gravitate toward assets that hold value over time as monetary assets.”

52. “An asset that holds its value is preferable to an asset that loses value, and savers who want to choose a medium of exchange will gravitate toward assets that hold value over time as monetary assets.”

— Saifedean Ammous

Saifedean Ammous Quote: “Austrian economists are rarely dogmatic or objectivist in their definition of sound money. They define it not as a specific good or commodity, but as whichever money emerges on the market, freely chosen by the people who transact with it.”

53. “Austrian economists are rarely dogmatic or objectivist in their definition of sound money. They define it not as a specific good or commodity, but as whichever money emerges on the market, freely chosen by the people who transact with it.”

— Saifedean Ammous

Saifedean Ammous Quote: “A sound money, on the other hand, makes service valuable to others the only avenue open for prosperity to anyone, thus concentrating society’s efforts on production, cooperation, capital accumulation, and trade.”

54. “A sound money, on the other hand, makes service valuable to others the only avenue open for prosperity to anyone, thus concentrating society’s efforts on production, cooperation, capital accumulation, and trade.”

— Saifedean Ammous

Saifedean Ammous Quote: “Similarly, with money, it was inevitable that one, or a few, goods would emerge as the main medium of exchange, because the property of being exchanged easily matters the most. A medium of exchange, as mentioned before, is not acquired for its own properties, but for its salability. Further, wide acceptance of a medium of exchange allows all prices to be expressed in its terms, which allows it to play the third function of money: unit of account.”

55. “Similarly, with money, it was inevitable that one, or a few, goods would emerge as the main medium of exchange, because the property of being exchanged easily matters the most. A medium of exchange, as mentioned before, is not acquired for its own properties, but for its salability. Further, wide acceptance of a medium of exchange allows all prices to be expressed in its terms, which allows it to play the third function of money: unit of account.”

— Saifedean Ammous

Saifedean Ammous Quote: “But in October 2009, an Internet exchange2 sold 5,050 bitcoins for $5.02, at a price of $1 for 1,006 bitcoins, to register the first purchase of a bitcoin with money.3 The price was calculated by measuring the value of the electricity needed to produce a bitcoin.”

56. “But in October 2009, an Internet exchange2 sold 5,050 bitcoins for $5.02, at a price of $1 for 1,006 bitcoins, to register the first purchase of a bitcoin with money.3 The price was calculated by measuring the value of the electricity needed to produce a bitcoin.”

— Saifedean Ammous

Saifedean Ammous Quote: “The three metals most widely used for this role were gold, silver, and copper, and their use as coins was the prime form of money for around 2,500 years, from the time of the Lydian king Croesus, who was the first recorded to have minted gold coins, to the early twentieth century.”

57. “The three metals most widely used for this role were gold, silver, and copper, and their use as coins was the prime form of money for around 2,500 years, from the time of the Lydian king Croesus, who was the first recorded to have minted gold coins, to the early twentieth century.”

— Saifedean Ammous

Saifedean Ammous Quote: “Forty Centuries of Wage and Price Controls: How Not to Fight Inflation.”

58. “Forty Centuries of Wage and Price Controls: How Not to Fight Inflation.”

— Saifedean Ammous

Saifedean Ammous Quote: “You do not get a job or funding in this system by producing important scholarship that is productive and useful to the real world, but by furthering the agenda of the funders.”

59. “You do not get a job or funding in this system by producing important scholarship that is productive and useful to the real world, but by furthering the agenda of the funders.”

— Saifedean Ammous

Saifedean Ammous Quote: “Hyperinflation is a form of economic disaster unique to government money. There was never an example of hyperinflation with economies that operated a gold or silver standard, and even when artifact money like seashells and beads lost its monetary role over time, it usually lost it slowly, with replacements taking over more and more of the purchasing power of the outgoing money.”

60. “Hyperinflation is a form of economic disaster unique to government money. There was never an example of hyperinflation with economies that operated a gold or silver standard, and even when artifact money like seashells and beads lost its monetary role over time, it usually lost it slowly, with replacements taking over more and more of the purchasing power of the outgoing money.”

— Saifedean Ammous

Saifedean Ammous Quote: “The operation of a market economy is dependent on prices, and prices, to be accurate, are dependent on a common medium of exchange, which reflects the relative scarcity of different goods. If this is easy money, the ability of its issuer to constantly increase its quantity will prevent it from accurately reflecting opportunity costs. Every unpredictable change in the quantity of money would distort its role as a measure of interpersonal value and a conduit for economic information.”

61. “The operation of a market economy is dependent on prices, and prices, to be accurate, are dependent on a common medium of exchange, which reflects the relative scarcity of different goods. If this is easy money, the ability of its issuer to constantly increase its quantity will prevent it from accurately reflecting opportunity costs. Every unpredictable change in the quantity of money would distort its role as a measure of interpersonal value and a conduit for economic information.”

— Saifedean Ammous

Saifedean Ammous Quote: “Johnson asked a federal bureaucrat to concoct a fraudulent health scare around perfectly nutritious food for reasons that had nothing to do with science.”

62. “Johnson asked a federal bureaucrat to concoct a fraudulent health scare around perfectly nutritious food for reasons that had nothing to do with science.”

— Saifedean Ammous

Saifedean Ammous Quote: “The higher the ratio of the stock to the flow, the more likely a good is to maintain its value over time and thus be more salable across time.”

63. “The higher the ratio of the stock to the flow, the more likely a good is to maintain its value over time and thus be more salable across time.”

— Saifedean Ammous

Saifedean Ammous Quote: “The fundamental engineering feature of the fiat system is that it treats future promises of money as if they were as good as present money because the government guarantees these promises.”

64. “The fundamental engineering feature of the fiat system is that it treats future promises of money as if they were as good as present money because the government guarantees these promises.”

— Saifedean Ammous

Saifedean Ammous Quote: “The better the money is at holding its value, the more it incentivizes people to delay consumption and instead dedicate resources for production in the future, leading to capital accumulation and improvement of living standards, while also engendering in people a low time preference in other, non-economic aspects of their life.”

65. “The better the money is at holding its value, the more it incentivizes people to delay consumption and instead dedicate resources for production in the future, leading to capital accumulation and improvement of living standards, while also engendering in people a low time preference in other, non-economic aspects of their life.”

— Saifedean Ammous

Saifedean Ammous Quote: “The average savings rate of the seven largest advanced economies12 was 12.66% in 1970, but has dropped to 3.39% in 2015, a fall of almost three-quarters.”

66. “The average savings rate of the seven largest advanced economies12 was 12.66% in 1970, but has dropped to 3.39% in 2015, a fall of almost three-quarters.”

— Saifedean Ammous

Saifedean Ammous Quote: “When comparing different national currencies, we find that the major and most widely used national currencies have a lower annual increase in their supply than the less salable minor currencies.”

67. “When comparing different national currencies, we find that the major and most widely used national currencies have a lower annual increase in their supply than the less salable minor currencies.”

— Saifedean Ammous

Saifedean Ammous Quote: “Mandating laws against humans’ self-interested nature does not change human nature; it reduces the incentive to behave legally and so destroys society’s respect for laws.”

68. “Mandating laws against humans’ self-interested nature does not change human nature; it reduces the incentive to behave legally and so destroys society’s respect for laws.”

— Saifedean Ammous

Saifedean Ammous Quote: “Gold offered no mechanism for restraining the sovereigns, and had to rely on trust in them not abusing the gold standard and the population remaining eternally vigilant against them doing so.”

69. “Gold offered no mechanism for restraining the sovereigns, and had to rely on trust in them not abusing the gold standard and the population remaining eternally vigilant against them doing so.”

— Saifedean Ammous

Saifedean Ammous Quote: “Sound money allows people to think about the long term and to save and invest more for the future. Saving and investing for the long run are the key to capital accumulation and the advance of human civilization. Money is the information and measurement system of an economy, and sound money is what allows trade, investment, and entrepreneurship to proceed on a solid basis, whereas unsound money throws these processes into disarray.”

70. “Sound money allows people to think about the long term and to save and invest more for the future. Saving and investing for the long run are the key to capital accumulation and the advance of human civilization. Money is the information and measurement system of an economy, and sound money is what allows trade, investment, and entrepreneurship to proceed on a solid basis, whereas unsound money throws these processes into disarray.”

— Saifedean Ammous

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