The Real Fallout From Cyprus
March 30, 2013
Today Michael Pento writes for King World News to explain what he describes as the real fallout from Cyprus. Pento also believes that Cyprus will have enormous an enormous long-term impact on both the US dollar and the price of gold. Below is Pento’s piece:
“Holders of the Euro currency should be glad that the Troika is finally doing something besides just making more loans, printing more money and monetizing more debt—unlike what the Treasury and Federal Reserve is in the habit of doing? For me, this has to be positive for the Euro in the long-term because the ECB is not expanding its balance sheet, while the Fed is rapidly expanding the U.S. monetary base….