kingworldnews.com / October 11, 2012
Today
Jeffrey Saut spoke with King World News about gold, a $2 trillion
bailout in Europe, and what investors should expect going forward.
Saut, who is Chief Investment Strategist for $360 billion Raymond James,
had this to say about discussion of a $2 trillion European bailout: “I
had mentioned that in the past, and that’s the kind of bazooka you need
to pull to try to at least get over the short-to-intermediate-term
funding problems.”
Here is what Saut had this to say: “I have
said it, politicians, bureaucrats, and bankers are the same in Europe as
they are here. They do not want to lose their power, and if the EU
implodes, they all lose their power. So I think they are going to
continue papering over the situation, and try to buy more time, just
like we did here in our ’07/’08 financial fiasco.”
Jeffrey Saut continues:
“Whether
it’s going to be successful in the long-term is a very good question
that I don’t have the answer to. The major problem is you can’t have 17
countries with a common currency, without having a common fiscal
policy. They never got that, so you have this complete misallocation of
capital into the Mediterranean countries that left them totally
uncompetitive with the Germany’s of the world…..
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