Sunday, August 5, 2012

Nobel Economist Comments on Euro & the Dollar

Nobel Economist Laureate Edward Prescott gives his view on the current situation in Europe and US. He thinks that the Euro is doomed, the banks are in trouble and America will have a giant economic collapse.


Gold Is About To Soar Higher - James Turk

“The way the metals traded yesterday and today illustrates the important point I was making when we did that interview. There’s a ton of money on the sidelines waiting to buy the dips. This is exactly the type of thing you see at the beginning of a bull market.

I’ve been talking about a summer rally, and here we are at the beginning of August, and I think the summer rally is actually beginning now...

“People are starting to understand they are being played with by these guys. Draghi came out last week and said he will do whatever it takes to preserve the euro. Then he said something to the effect of, ‘And believe me it will be enough.’
...
The bottom line is we are in a fiat currency bubble. Eventually this bubble is going to pop because we are using this fiat currency, backed by nothing, not just in one country, but throughout the world.”