Gold still represents the ultimate form of payment in the world. Fiat money in extremis is accepted by nobody. Gold is always accepted.

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

The number one problem in today's generation and economy is the lack of financial literacy.

I'm a better economist than I was a sax player.

I'm not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.

But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?

Amateurs want to be right. Professionals want to make money.