Gold, Unlike All Other Commodities, Is A

Crony Capitalism Is Essentially A Condition In Which... Public Officials Are Giving Favours To People In The Private Sector In Payment Of Political Favours.

I Have One Other Issue I'd Like To Throw On The Table. I Hesitate To Do It, But Let Me Tell You Some Of The Issues That Are Involved Here. If We Are Dealing With Psychology, Then The Thermometers One Uses To Measure It Have An Effect. I Was Raising The Question On The Side With Governor Mullins Of What Would Happen If The Treasury Sold A Little Gold In This Market. There's An Interesting Question Here Because If The Gold Price Broke In That Context, The Thermometer Would Not Be Just A Measuring Tool. It Would Basically Affect The Underlying Psychology.

The True Measure Of A Career Is To Be Able To Be Content, Even Proud, That You Succeeded Through Your Own Endeavors Without Leaving A Trail Of Casualties In Your Wake.

By Far The Most Significant Event In Finance During The Past Decade Has Been The Extraordinary Development And Expansion Of Financial Derivatives.

A Decline In The National Housing Price Level Would Need To Be Substantial To Trigger A Significant Rise In Foreclosures, Because The Vast Majority Of Homeowners Have Built Up Substantial Equity In Their Homes Despite Large Mortgage-market Financed Withdrawals Of Home Equity In Recent Years.