Having spent 10 years studying emerging markets, I know that you have patterns repeated over and over again. A bubble is like a fire which needs oxygen to continue... when you see there is no oxygen, things change.

Technology is spurring innovation, and the so-called "demographic dividend" has brought change.

A currency serves three functions: providing a means of payment, a unit of account and a store of value. Gold may be a store of value for wealth, but it is not a means of payment. You cannot pay for your groceries with it. Nor is it a unit of account. Prices of goods and services, and of financial assets, are not denominated in gold terms.

I think globalization actually maintains and fosters various elements of national and cultural identities. I don't think everything is being homogenized. If anything, your food, your culture, and your ethnicity might become part of the globalized world, and thus absorbed by other countries.

Edward Conard provides a provocative interpretation of the causes of the global financial crisis and the policies needed to return to rapid growth. Whether you agree or not, this analysis is well worth reading.

I think it's true that the 1 Percent or the elite are living in a world of, maybe, excessive privilege, and they don't fully realize how much pain and suffering, how much anxiety exists out there.

All the risky things that were happening back in ’06 and ‘07 are back again to the same level, if not more. So we are in the beginning of a credit bubble, but just the beginning.