[C]apitalism without financial failure is not capitalism at all, but a kind of socialism for the rich.

Growth at an exceptional rate is a red flag in banking. It is hard enough to manage an ordinary bank; to control a sprouting weed is well-nigh impossible. If loans are expanding too quickly, the lending officers have probably been saying 'yes' too frequently.

Central banks have gotten out of the central banking business and into the central planning business, meaning that they are devoted to raising up-if they can-economic growth and employment through the dubious means of suppressing interest rates and printing money. The nice thing about gold is that you can't print it.

The Fed can change how things look, not how things are

Debt is always repaid, either by the borrower or by the lender.

Every debt is ultimately paid, if not by the debtor, then eventually by the creditor.

The 1980s are to debt what the 1960s were to sex. The 1960s left a hangover. So will the 1980s.