How has gold performed, and is the fundamental case for gold weaker or stronger in the years since your first bestseller?
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It's done very well since I wrote my first book, America's Bubble Economy or my second book, After Shock, it's done very, very well. I liked gold back then, probably because I knew what was going to occur in terms of how the government's going to react by printing money, by borrowing money, and that it's going to push up the stock market, but if you look at the fundamental case for gold and why I believed in gold then, it's only gotten stronger. It has been more proven. At this point, it's proven. It wasn't just conjecture that we would print mass amounts of money or borrow mass amounts, we did. Again, think about how weird that was, how highly unusual that was, go back 10 years, ask any Fed official, anybody on Wall Street, if we would have been printing $3 trillion dollars today, they'd go, "You're nuts!" They only barely even printed a trillion by that time in our entire history of our Federal Reserve. If we would be borrowing over a trillion dollars or even $650 billion dollars, somebody said aren't we on the right path we're only borrowing $650 billion dollars. Imagine what somebody would have thought 10 or 15 years ago, if he said, "Hey, did you know we're only going to be borrowing only $650 billion in 2014." It's a massive amount of money and all of this just builds the case for why I like gold.
It's now proven. The case is even better now. When I predicted gold would go up, did I say, "Oh, well gold will go up every month and every week and every year." No, it is a real investment; it goes up and down. What you want is an investment that goes up more than down. That's what it has done and it's done that pretty consistently. So, yes, it had a bad year last year and yes, it's down, but aren't there stocks that have gone down that you have decided that now's a good time to invest? You could open up the Wall Street Journal of today and probably see exactly that same thing said. Well, this stock has been pushed down and it's had a beating for a while, I think it's a good time to buy. Well, I mean clearly, the same thing could be true of gold, the fundamentals are the same and ultimately those will come through. Just like with any real investments. So, I think just keep in mind that even though gold has not gone up every year, well it almost had gone up every year, until last year, but I wasn't predicting ever -- look at all my books you'll never see I predicted it to go up every year, every month, or every week -- I just said it would be a good long-term investment. That's exactly what it's turned out to be. The reasons for it are even stronger now. As I say we're putting more gunpowder under the house, that's not a great thing, but we are doing that. You can't deny it and that's what I'm trying not to do is deny what we're doing and that will make gold a much stronger investment going forward. It's still as good, even better than it was when I predicted earlier it was going to be good. That turned out to be true. It was a good investment. I think it will turn out to be true today, even more so.