Caesar – Watch Gold as Europe Headed Into Crisis Again
March 27, 2012
With gold trading just below $1,700 and silver above $32.50, today King World News interviewed 25 year veteran Caesar Bryan. Gabelli & Company has over $31 billion under management and Caesar Bryan has managed the gold fund since its inception in 1994. Caesar told KWN that Greek bonds are now trading at 19% and Europe is headed for trouble once again. Caesar also discussed gold and silver, but first, here is what he said about Europe: “On the surface things may appear to be calm, but I don’t think the European crisis is anywhere near its conclusion. Losses still have to be taken from Ireland, Spain, Portugal and possibly even Italy. This morning it was reported the Greek 10-year bond was yielding 19%. So there will be yet another Greek bailout required.”
“There are various mechanisms for sorting out the European crisis. One is hard money, through the EFSF and the ESM. Right now they are debating about how much to put up for that. Remember, they have agreed on a July birth of the ESM, the European Stability Mechanism, with 500 billion euros of funding.
The temporary facility would then drop out….