I've had my fair share of philosophical arguments in regards to gold and economics. Most of the time I feel like I'm shadow boxing because I'm usually introducing elements to my opponents that they've never been exposed to. And when I expose them to the pragmatism of gold, they are usually flustered and respond back with the logic that has been spoon fed to them by the powers that be. Most of the time, I may as well be talking to a wall because people don't seem to respond well to painful realities. Oh how easy it is to fool the lemmings!

It utterly bewilders me how educated folks have such a hard time understanding basic economics. It's really not that hard to understand.

We advised caution in the oil markets on July 2nd, 2008. We are seeing the correction now. For targets I have $80-$100 as the low. The correction should continue through the end of this year.

When we originally wrote this article, my partner Sergey got a lot of negative commentary on some boards, which made us pretty confident about our analysis. The majority of the public is always wrong near the peaks and valleys. The public sentiment is probably one of the best trading indicators around.

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The dollar is currently precariously perched right above 70 on the USD Index chart. Right around the beginning of 2005, the dollar was in a similar situation when it consolidated around the 80 mark and retraced back above 90 for an entire year and then slowly grinded down for the next 2 years.

Warren Buffet is a great investor. That's a bit of an understatement. He's probably one of the greatest investors that has ever lived and his exceptional performance will continue by huge nominal numbers until he dies.

His percentage returns will drop, however, because of the sheer size of his empire. Imagine trying to earn 20+% returns on a behemoth like Berkshire Hathaway. It's nearly impossible and Buffet himself has warned investors that he cannot replicate his past performance going forward due to the limited scope of worthwhile investment opportunities that Berkshire can pursue. Go ahead and read his latest shareholder letters and read it yourself.