There Are No Easy Choices.

The Probability Of Ten Consecutive Heads Is 0.1 Percent; Thus, When You Have Millions Of Coin Tossers, Or Investors, In The End There Will Be Thousands Of Very Successful Practitioners Of Coin Tossing, Or Stock Picking.

In The Absence Of The Gold Standard, There Is No Way To Protect Savings From Confiscation Through Inflation. There Is No Safe Store Of Value.

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 Current Financial Crisis In The Us Is Likely To Be Judged In Retrospect As The Most Wrenching Since The End Of The Second World War.

The Process Of Innovation Is, Of Course, Never Ending.