Friday, November 11, 2011

A year from now there is going to be more debt in Greece and in Europe

I am delighted to see it. I own the Euro, but longer term it is going to be a disaster for all of us, the whole world, especially for Europe, because this is not solving the problem. A year from now there is going to be more debt in Greece and in Europe. Two years from now, there is going to be more and more debt. Debt just keeps going up and nobody addresses the real fundamental problem. - in ET Now

The world is in trouble

"We`re certainly going to have more crises coming out of Europe and America; the world is in trouble. The world has been spending staggering amounts of money that it doesn`t have for a few decades now, and it`s all coming home to roost," - in CNBC

The system would survive because some countries like Germany still have credibility

"Get everyone in a room and decide you will go bankrupt. You will survive and we`re going to ringfence you. We`ll make sure your checks clear. Everyone`s deposits are going to be ok, the system`s going to survive. "But we are going to have a lot of pain that way the system would survive because some countries including Germany have credibility," - in CNBC

I own the Euro

"I own the euro because everyone is beating it down so badly and the US dollar too," - in CNBC

I will make money in commodities

"I own several paper currencies. My theory is that if things get better I will make money in commodities, and if they don`t get better I`ll make money in commodities because they`ll print more money and stocks will be going down a lot," in CNBC

America cannot quadruple its debt again

"Last time, America quadrupled its debt. The system is much more extended now, and America cannot quadruple its debt again. Greece cannot double its debt again. The next time around is going to be much worse," - in CNBC


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