Credit is money of the mind.

It is an axiom nowadays that no bank fails for lack of capital; unprofitable lending is always the underlying cause.

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

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

Nothing beats a little cash in a bear market, of course, and the oldest form of cash is gold.

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