Central Planners Are Making Desperate Maneuvers Right Now
July 6, 2012
With investors around the world are wondering which direction markets will head next, 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. Here is what Ceasar had to say regarding what is happening around the globe: “Since we last spoke, Eric, there was the summit between the countries in the eurozone. They agreed to separate the bank debt from the sovereign debt, but that doesn’t fix the problem because the debt is still there. There are two issues, and the first one is too much debt and who is going to take the losses?”
Caesar Bryan continues:
“The second is the issue of competitiveness in some of the peripheral countries in the eurozone. That issue also remains unsolved. It was interesting because yesterday we had a number of central banks make moves. As an example, the ECB cut interest rates and they also lowered their deposit rate to zero.
So it was an easing move, but it will not have an impact on their economy, which is already slipping into recession in Europe. The Bank of England also raised their asset purchase program in an effort to lift the UK economy. They are happy to cheapen sterling….