I am not going to say I told you so, but I did.

In the history of modern capitalism, crises are the norm, not the exception.

We're essentially continuing a system where profits are privatized and...losses socialized.

You have to eventually nationalize US banks, you have to take the problem by the horns. In my view actually most of the US banking system is insolvent.

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.

The global financial crisis - missed by most analysts - shows that most forecasters are poor at pricing in economic/financial risks, let alone geopolitical ones.

I'm not a pessimist by nature. I'm not someone who sees things in a bleak way.