Gold has no increasing value. And if you're really worried about, say, inflation rising, I would buy Spam. You know, you can eat Spam. You cannot eat gold.

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

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.

The gains from technology must be channeled to a broader base of the population than has benefited so far.

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

Once you run current-account deficits, you depend on the kindness of strangers. This might be the beginning of the end of the American empire.

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.