Merkel has realized that the euro is not working, but she cannot change the narrative she has created because that narrative has caught the imagination of the German public, and the German public has accepted it.

The ultimate asset bubble is gold.

American supremacy is the greatest threat to the world today.

Increase your bets when you are confident and scale down your positions when you don't have conviction.

Political debate is more interested in manipulating the truth, than finding the truth.

The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.

Any central bank should only be in charge of liquidity. Solvency is a matter for the treasury.