Over the long run, the price of gold approximates the total amount of money in circulation divided by the size of the gold stock. If the market price of gold moves a long way from this level, it may indicate a buying or selling opportunity.

The world is still in deleveraging.

I think the greatest tragedy of mankind is that people have ideas and opinions in their heads but don't have a process for properly examining these ideas to find out what's true. That creates a world of distortions.

I treasure the fact there's media freedom, but with that goes responsibility. I think that there should be a self-regulatory organization and that they should start to think about standards. Because I think a lot of people say, "I don't know how to read what is true versus somebody else's interpretation."

Evolution is the only thing that exists through time. That is true for computers, or people, or a business. We tend to see things in a static way, and so you see what is. Even in looking at ourselves, what we really are is essentially vessels for our DNA that keeps evolving through time. So seeing that and embracing that reality, and thinking of everything as kind of this perpetual motion machine in which you embrace reality - you don't wish it was different. You realize that it's your puzzle to interact with. You interact with it well, you evolve yourself.

More than anything else, what differentiates people who live up to their potential from those who don't is a willingness to look at themselves and others objectively

Demand is best measured in terms of spending. You know, I think in traditional economics, it's a mistake to measure it in terms of the quantity of goods.