Fifty-dollar oil is just another stop on the road to much higher crude prices.

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

Yes, when they're buying there are more buyers in the market and that's supportive of the price. The more buyers you have, the firmer the price is going to be. When central banks were selling it was a headwind the market had to overcome. Now it's a tailwind that central banks are joining the buyers.

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.

Of course if you happen to time the market really well, you can make more money with some of these smaller companies, but for someone with no exposure I wouldn't want to take the risk that they timed it wrong.

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.

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