All those commodities are going to have to rise in value as we are in short supply and we are printing too much money.

Printing money is merely taxation in another form. Rather than robbing citizens of their money, government robs their money of its purchasing power.

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.

Most paper money initially existed as a substitute for gold. That's what gave it value. But right now what gives a currency value is other currency. Most countries hold reserves and the reserves are other currencies. If you are a backing up the euro with the dollar, what's backing up the dollar? I don't think it is going to go to a point where all you have is coins and bars of gold, but I do think that we are going to have to go back to a monetary system based in gold, not based on paper.

The real story of Detroit [...] can be summed up in seven words. Private enterprise built it, government destroyed it.

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.

The Fed is the biggest enemy of this economy. In fact, Ben Bernanke, as far as I'm concerned, he's public enemy No. 1. We're never going to have a recovery while this guy's in charge.