Felix Zulauf on Europe and more
James Turk, Director of the GoldMoney Foundation, talks to Felix Zulauf, Chairman of Zulauf Asset Management, about the debt crisis spreading from Greece to the rest of Europe. Zulauf is very euro-sceptic because of the imbalances between saver nations of the euro-core and the debtor nations of the euro-periphery. He sees politicians lagging reality, always two steps behind and how this will put the entire banking system at risk. This will also have political consequences.
Zulauf also discusses the current economic situation and similarities with 2008. He explains that Greece is bigger than Lehman and thus we can expect more market turmoil than in 2008. He also quotes Einstein’s definition of insanity: “doing the same thing over and over again expecting different results”.
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