Confidence is key. You're not going to put your money - you're not going to leave your money with me unless you're confident I'm going to give it back to you.

I view derivatives as time bombs, both for the parties that deal in them and the economic system.

You pay a very high price in the stock market for a cheery consensus.

Investing is forgoing consumption now in order to have the ability to consume more at a later date.

What motivates most gold purchasers is their belief that the ranks of the fearful will grow. During the past decade that belief has proved correct. Beyond that, the rising price has on its own generated additional buying enthusiasm, attracting purchasers who see the rise as validating an investment thesis. As 'bandwagon' investors join any party, they create their own truth - for a while.

Don't risk what is important to you, to get what is not important to you.

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.