How do you assess the current market and do you feel there is serious cause for concern among investors?
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It's been flat and that isn't a big problem, except that it comes right after you've stopped printing money. That's a huge problem and that should be a warning bell, a big red flag going off all over the place about what's going on in the stock market. It's not going up, it's flat after printing money that means we're very, very dependent on printed money to keep that market up. That is a huge, huge signal that what's happening is not fundamental. In other words, we're not getting fundamental growth that's really pushing that market up. It's very much a fake stock market being pushed up by printed money and I think we're going to need more printed money, because this market will go down--not might, it will go down without printed money. Yes, the Fed will come in and print money to push it up, but that should scare you a lot. The reason is...is because it sort of proves my point that the market isn't being driven by fundamentals; it's being driven by printed money.
At some point, that will pop. Then you say, "Oh never," but they'd also say that California real estate in 2004 will never go down. At this point, when the Fed pops that's a huge problem for your investments, for any other investment practically, other than gold. You need to be prepared for that. The fact that we're probably going to back on the printed money medicine, and even though it may work at first, you might feel good for a day or two or a year maybe less, you're on the presuppose of a big change. The fact that we're probably going to have to go back to...the fact that we will go back to it when that's proven, should scare you very much that that change is about to happen.