In normal times, investors should pay more attention to the credit markets because it's the energy by which everything is driven. It's the oil in the engine.

I can't remember the exact quote but when I used to trade and Mr. Volcker was Fed chairman, he said something like 'gold is my enemy, I'm always watching what gold is doing', we need to think why he made a statement like that. If you're a central banker or one of the congressmen or senators, watch what gold is doing because this is a no-confidence vote in fiscal and dollar policy.

Our society, our culture - the greatness of America - goes hand-in-hand with energy, and our leaders need to wake up. We need energy, OK?

When you are facing the wilderness on your own, you have a totally different attitude to someone who works in government or who has a monthly cheque.

We have mountain of debt that isn't going away and all the problems are here to stay, and anybody who tells you that is a good thing ought to get out of the business of helping the government down the road.

One thing that served me well with clients was that you back your winners and you back your losers.

You need more people to perpetuate a myth because if the people stop the myth is known to all.