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

Central banks are choosing to increase their gold holdings as a percentage of total reserves. They obviously think there is a reason to do that. It doesn't make sense to back up one currency with a hoard of other paper currencies. There needs to be a real anchor there. I think that central banks are well behind the curve. If you look at the percentage of above-ground gold controlled by central banks, it's historically low. Hence the fact that central banks are trying to increase their holdings. They've got a long way to go to get where they need to be.

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

Mutual funds are an overrated investment heavily promoted by Wall Street.

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

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.

The real bubble in China is in US Treasuries, in US dollars.