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You are the ultimate dollar bear. Yet you just told me you are long the dollar. Why is that?
Because everybody's bearish, including me. I read something like 97 percent of people are bearish on the dollar. I am one of those 97, so I bought dollars.
How do you view the euro crisis now?
Why should a good, honest German taxpayer, a guy who saved his money, suddenly get a bill from the German government saying you have got to pay for some Greeks sitting on the beach drinking ouzo? That's absurd.
German voters have already voiced their displeasure with that scenario. Will we get similar protests in the U.S.?
Of course we will. We are going to have social unrest in the U.S., too. We are going to have much higher prices. We are having serious inflation, which is going to get worse, and we have a government that is sitting down there spending staggering amounts of money, getting us deeper into debt.
What do you want President Obama to do right now?
Well, that's not going to happen. Seriously.
What he should do is take an ax—no, not an ax—take a chain saw to spending in the U.S. We have got to balance the budget. We have got to pay off the debt, somehow, someday.