Eveillard – We Are Near The End Of This Correction In Gold
July 18, 2012
Today legendary value investor, Jean-Marie Eveillard, told KWN, “If you look at China’s view of the West, they think we are decadent. They think we are Rome, towards the end.” Eveillard, who oversees $50 billion at First Eagle Funds, also said, “At the same time, they are beginning to worry about China itself.”
He also discussed the gold market, but first, here is what Eveillard had to say about Europe and the US: “One can have confidence that if the economy does not start doing somewhat better, at some point Bernanke will use some tools to try to stimulate things. I think he’s mistaken. The fact that the short-term interest rates have been taken to zero over the past several years, and kept there, I mean money is not supposed to be free.”
Jean-Marie Eveillard continues:
“So there will be all sorts of negative unintended consequences of having interest rates at practically zip for an extended period of years. If you turn to Europe, a solution is unavailable. Nevertheless, they manage to gain a few months through various manipulations and concessions being made by the Germans. But the Germans, who are being pushed around, are already on the hook for much more than the German public understands.
If you look at China’s view of the West, they think we are decadent. They think we are Rome, towards the end….