"The whole euro thing will eventually be doomed," says Donald Trump, Trump Organization chairman & president, expressing his thoughts on Europe's financial crisis and the future of the euro zone.
19 Jun 2012 CNBC
"It's a total mess. I know so many people over there, they don't know what's happening. The whole euro thing is doomed. I can't see Germany bailing out other people. A lot of these countries are going to go back to their own currencies. But it won't be nearly as bad as people are saying"
[Are there bargains over there?]
"Yes. Spain. It has too much debt, all of those empty homes and apartments. Look at Miami, the greatest example. Miami is booming and a few years ago it was a disaster. Somebody brought a project to me in Greece! You're getting everything for nothing, you have to sit on it for a while. I'm thinking of doing something over there....a great opportunity is Spain too. It's got a fever, this is the time to take advantage of it"
[Gillian Tett -
I am sure you can buy a fleet of Greek islands. Will you jump into Spain?]
"The countries have to go back to their own currencies. Germany is buying back tremendous amounts of debt [! at discounts. I'm not sure Germany is suffering. That's not a bad way to make a living. But a lot of these countries, maybe all of them, will have to go back to their own currencies. Different people and different thought processes,
Rich Dad Poor Dad is the story of Robert Kiyosaki's financial education. He had two 'dads' - one his real dad, who was poor, and the other, his best friend's dad, who was on his way to becoming a very rich man.
Wednesday, June 20, 2012
Buy Gold ahead of QE3
In the report, SocGen discusses the historical relationship between the price of gold and the U.S. monetary base. The SocGen team writes that “if gold catches up with the increase in the monetary base since 1920 (as it did in the early 80s), its price would rise to USD 8500/Oz,” adding that just “to close the gap with the monetary base increase since July 2007, gold would have to rise to $1,900/oz, assuming full transmission from the monetary base increase to the gold price.”
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Emerging Markets Central Banks Hoarding Gold
There were strong buying from the central banks of some emerging markets of Gold , particularly from China Mexico and The Philippines , these central banks tend to use their large foreign exchange surpluses and prefer to hoard gold instead of the US Dollars or other fiat currencies
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