Perhaps the most important reason to be skeptical of government inflation numbers is that the government, like a fox campaigning to guard a hen house, has many reasons to be disingenuous. As the world's largest debtor, the Federal Government is inflation's primary beneficiary.

One day we're going to look back at $1,700 with nostalgia. People are going to be shocked at how inexpensive gold was when it could be snapped up for such a bargain price.

Gold is not overvalued at $500, and gold will not be overvalued at $1,500 or $2,000. The real money is buying gold and putting it away.

Often President Obama's worst critics are Senator Obama and candidate Obama.

You have countries that have lived beyond their means, with bloated governments, huge trade deficits, and people living off the government. Then you have others where poor people are working hard and underconsuming and their governments are buying all this debt and propping up the extravagant countries. All of this has to change. There's a tremendous moral hazard involved with this system.

It can be argued that the U.S. brokerage and investment banking industry has transformed the modern American stock market into nothing more than a mechanism for transferring wealth from shareholders to management.

Over the past decade or so, you have seen the flip side of that as you've seen stock prices have come down a lot relative to gold. Now you are getting a change where people are more comfortable holding gold because in the rear-view mirror it doesn't look so bad for gold. Bonds have not come down as much relative to gold, but I think the bond bubble is going to burst and will be falling for years too. And gold will look that much better.