Bush's war in Iraq has done untold damage to the United States. It has impaired our military power and undermined the morale of our armed forces. Our troops were trained to project overwhelming power. They were not trained for occupation duties.

Globalization has rendered the world increasingly interdependent, but international politics is still based on the sovereignty of states.

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

I called gold the ultimate bubble, which means it may go higher. But it’s certainly not safe and it’s not going to last forever.

If the bubbles contain a misconception, as they always do, then it can't be maintained forever.

Anticipating attacks, I should like to emphasize that I do not subscribe to the myths propagated by enemies of Israel and I am not blaming Jews for anti-Semitism. Anti-Semitism predates the birth of Israel. Neither Israel's policies nor the critics of those policies should be held responsible for anti-Semitism. At the same time, I do believe that attitudes toward Israel are influenced by Israel's policies, and attitudes toward the Jewish community are influenced by the pro-Israel lobby's success in suppressing divergent views.

I think there's a lot of merit in an international economy and global markets, but they're not sufficient because markets don't look after social needs.