In a speech at the just-concluded G20 summit in London, President Obama urged Americans not to let their fears crimp their spending. It would be unwise, he argued, for Americans to let the fear of job loss, lack of savings, unpaid bills, credit card debt or student loans deter them from making major purchases. According to the president, 'we must spend now as an investment for the future'....instead of saving for the future, we must spend for the future.

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.

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.

We're on a collision course for disaster. All we can do, all your viewers can do is brace for impactBuy gold. Buy silver Get as far away as you can from U.S. currency and the U.S. economy.

The Philadelphia Feds manufacturers report for September revealed that despite a sharp slowdown, its prices paid index surged 257 points.

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

Once the government runs out of foreign and private sector bidders for new Treasurys, the Federal Reserve will be the only buyer, and the hyper-inflation cat will be completely out of the bag.