I had a very quick listen. This guy was concerned that the Vatican wanted all its money back to the Vatican from abroad by 30 Sep. Well having regard to what happened to the money of The Ruskies, I would too. It is the safe thing to do.
He was also concerned about what happened to Gaddafi when he wanted to go on the Au standard and thought there could be war as the Ruskies/Chinese/Indians / sundry others wanted to develop an alternative to the USD. OK so these countries are not Gaddafi and what right does the USD have to maintain its current position in the world for ever and ever? There was always going to be a day of reckoning - it is what happens in the financial world.
So I might be wrong but I find it hard to go along with that doom and gloom. There is likely to be great difficulties given money has been 'created' with gay abandon and interest rates went to zero and indeed negative - contrary to the principles of Economics 101. What the US seems to be doing now is bumping UP r so that they can cut rates in the future when depression sets in? At the moment - if they did not INCREASE rates - the FED will become an even bigger laughing stock when the inevitable depression/recession sets in because you cannot cut r from near zero to PRETEND you are doing something!
Absolute bunch of clowns!!
IVR Price at posting:
4.8¢ Sentiment: Buy Disclosure: Held
