It's not so unusual to run out of someone else's currency.

Devaluations are never easy.

Globalization was a deep trend pushed by technology and right ideas, as much as anything else.

There's a lot of strength in the U.S., but there's a lot of froth also. The froth will blow off. We're going to have to face up to some realities that we're not fully facing up to right now.

Despite a decade of criticism and budget cuts, the specialised UN agencies have far more expertise and hands-on experience than any other organisations in the world.

If we did go into a recession, something that's always possible for the U.S. or Europe, we could lower interest rates and expand the money supply without worrying about the price of gold.

It's the American leadership that has not played the role it should be playing and that leaders in other countries have been playing.