When you first wrote the bestseller “Aftershock”, you recommended gold as the key financial holding to protect investors. Today, do you still feel as confident in your recommendation?
Despite the fact that gold has been through a couple of tough years, I still feel just as strongly about the long-term future of gold as I did when I wrote "Aftershock" in 2009. In fact, if you go back to "America's Bubble Economy" that I wrote back in 2005, 2004, I was very big on gold then, it's done very, very well. So I think if you look at my longer-term predictions on gold, which is what I say is the thing to look at, gold's done extremely well. In fact as we even said in the Third Edition of "Aftershock", which just came out, your best-timed investment was to have exited the stock market in 2000 and gone into gold. Had you done that...had you gotten out of the stock market in 2000 and you gone into gold, you'd be doing far better than any other investment today--far better than the stocks, far better than bonds.
So, I'm still just at strong as I was then for many of the same reasons, because what we predicted in "America's Bubble Economy" back in 2005, is that we would have this popping of the economy driven by the housing bubble and that we be responded to by the government with massive money printing and massive government borrowing and that's just what happened. So why would I not be just as positive on gold when things have happened exactly as I would have expected them to? And that's why I think gold is going to continue to be a great investment as we go into this and into the aftershock.