I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.

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

Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices, ... This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.

Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.

I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.

Senator, we are groping for understanding, the knowledge you assume I possess doesn't exist' - 'The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills' - 'Senator, if I seem clear to you, you must have misunderstood me' - 'Unfortunately, Senator, nobody knows where the next innovative idea is coming from. Political decisions are never random and will always lose out to innovative alternatives

If prices go down, we will have problems - problems in the sense of spillover to other areas.