History has not dealt kindly with the aftermath of protracted periods of low risk premiums.

I don't know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we've been talking about today or anything anybody else was talking about.

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.

If I've made myself clear, I've misspoken.

I don't think it's possible for the Fed to end its easy-money policies in a trouble-free manner. Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets, so there is no reason to suspect that the actual process of boosting rates would be any different. I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.

To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education - literacy, both verbal and numerical, and communication skills.

Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.