There are no checks and balances if the gov is wrong. If a private entrepreneur makes a mistake, he goes bankrupt, the losses are cut; if he bets wrong, he loses; if the gov bets wrong, they just get bigger, they just appropriate more money. It's a bottomless pit, because they either get it from the tax payers or run it off a printing press.

People should have an escape valve for their money, their assets. If you have substantial financial assets, the government is going to confiscate the purchasing power of those assets and spend it.

Keynesians are to economics what witch doctors are to medicine.

Miners produce the bullion. If there is going to be more demand for gold from investors and central banks, where is the gold going to come from? They have to dig it out of the ground and sell it. As the price of gold goes higher, their profit margins increase. So if you are very bullish like I am and think there is going to be a big increase in gold, it's a huge opportunity for miners.

What got us out of the depression was capitalism, and we would have gotten out a lot quicker had the government not intervened.

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