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.

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.

It can be argued that the U.S. brokerage and investment banking industry has transformed the modern American stock market into nothing more than a mechanism for transferring wealth from shareholders to management.

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

One day we're going to look back at $1,700 with nostalgia. People are going to be shocked at how inexpensive gold was when it could be snapped up for such a bargain price.

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

The government can't create jobs; they'll destroy jobs trying to do it. The government doesn't have any money; all they have is a printing press. We need to free markets to create jobs; if the government wants to help, they should reduce their burden on the economy.