Today most funding for science comes through government. That means that you have to be known to be sympathetic to conclusions that are acceptable to the political classes.

Government intervention in the economy - through taxes, regulation and, most importantly, currency inflation - causes distortions and misallocations of capital that must eventually be unwound. The distortions degrade the general standard of living, and the economy goes into a recession (call that an incomplete cleansing). Or it goes into a depression - wherein the entire sickly structure comes unglued.

Today most funding for science comes through government. That means that you have to be known to be sympathetic to conclusions that are acceptable to the political classes.

Do all that you say you are going to do and don't aggress against other people or their property. That's the whole of the law. I can live with a law like that.

They've been changing the cry from "global warming" to "climate change" because there's so little evidence there's actually any warming going on. I believe that as little as a decade from now, global warming will be recognized as one of the greatest swindles in world history. It has so little scientific basis, it can only rationally be considered a political scam.

Over two thousand years ago, Aristotle taught us that money should be durable, divisible, consistent, convenient, and value in itself. It should be durable, which is why wheat isn't money; divisible which is why works of art are not money; consistent which is why real estate isn't money; convenient, which is why lead isn't money; value in itself, which is why paper shouldn't be money. Gold answers to all these criteria.

There's no doubt in my mind that we'll have a mania in gold. And because the gold and especially silver markets are so tiny, the rush into them will be like trying to push the contents of Hoover Dam through a garden hose. Our positions will go absolutely ballistic.