There Are Absolutely Terrifying Risks Facing Global Markets

Tuesday, August 20, 2013
By Paul Martin
August 19, 2013

Today a legendary value investor warned King World News that the financial world is in an incredibly precarious position and that for many countries there is a big risk of a collapse. Jean-Marie Eveillard, who oversees more than $65 billion, also spoke about Russia, Putin, and gold. Below is what the legendary investor had to say.

Eveillard: “It’s interesting because in Europe things calmed down in the past year, particularly in terms of the yield on Portuguese paper, French paper, etc. This was in the aftermath of Mario Draghi saying, ‘We will do whatever it takes.’

So the ECB telegraphed to the world that they would step in if necessary and buy the sovereign paper of countries such Portugal, France, Greece, or others. This was a move to cap yields. In a sense Draghi was successful because he didn’t have to buy any paper because the investors stopped panicking, at least so far….

The Rest…HERE

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