Audio Excerpt:
“I don’t think the Euro situation can be resolved. I don’t think the world situation of continuing to expand debt and trying to create economic traction, of which there is very little, by expanding debt, will have any sustainable impact. Going to to the Australian School of Business, there is one of two things that is going to happen. You are going to repudiate the debt, which was the case in Greece Federal, they repudiated a hundred billion. Or you are going to try to print your way out of it and we perhaps haven’t quite seen the mass of printing that we might expect but in either scenario, there are only a couple of safe assets and those are precious metals.”
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