There is simply no way to sustain an economy based on consumer credit.

There is simply no way to sustain an economy based on consumer credit.

I think there are a lot of people out there that are speculating in the stock market. They have all kinds of tech stocks or social media stocks. If you want to gamble in the stock market, I would much rather gamble on a mining stock than a social media stock.

The U.S. dollar is in terminal decline. America is tragically bankrupt, unable to pay its lenders without printing the dollars to do so, and enmeshed in an economic depression. The clock is ticking until the dollar faces a crisis of confidence like every other bubble before it.

Once the dollar begins to collapse beneath the weight of all this new deficit spending, accumulation of contingency liabilities and the socialization of our economy, commodity prices and interest rates will head skyward.

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

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.