Europe To Launch Massive Two Trillion Euro Bailout Package…(Won’t Work!)
June 22, 2012
With tremendous volatility in global markets, today King World News interviewed one of the savviest guys in the business, Jeffrey Saut, Chief Investment Strategist for Raymond James. Saut surprised KWN by saying that Europe is about to launch “a two trillion euro bailout package.” He also stated that this “puts our Federal Reserve into a box whereby they will have to provide some kind of liquidity event in order to keep the US dollar from spiking higher.” Saut also discussed gold, but first, here is what he had to say about the crisis in Europe: “Having worked inside the Washington DC beltway, I have a pretty good working knowledge of politicians, bureaucrats and bankers. They are the same in Europe as they are in this country. They do not want to lose their power, and if the EU busts apart, they all lose their power.”
Jeffrey Saut continues:
“So I have been saying they are going to paper over this thing in order to try to buy time, just like we did with our financial fiasco. That said, I could see a scenario whereby they let Greece and Portugal opt out, and it actually improves the strength of the EU. If it’s good for the EU, it’s good for the rest of the world too.
In my 42 years in this business, when everybody was asking the same question, it was typically not the right question or as my dad would say, ‘It’s not the snake you see that bites you….’