Greed is normally balanced by fear.

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

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.

The strength in gold is revealing the general weakness in the dollar.

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.

Contrary to the rhetoric emanating from the American left, the 'rich' are currently paying a lot more than 'their fair share.' It is only a handful of mega-rich, those whose entire incomes are derived from dividends and capital gains, rather than salaries or business profits, who have the ability to pay lower tax rates than some members of the middle class. The left knows this but continues to build their 'freeloading millionaire' straw man because it makes good politics.

It is production that creates purchasing power, not the printing press!