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Comments:
We are a long way from being out of the woods with the Greek crisis. In my view, Portugal, Spain, and Ireland, with their high levels of public debt and under funded entitlements are the next dominoes to be infected by the sovereign fiscal contagion.
After each of these countries have crisis, the UK is on the horizon.
As a result, as discussed before on this blog, I anticipate a strong run up in the US dollar as measured by the US dollar index as a "flight to safety" and increasing gold prices as measured in every fiat currency including dollars.
Comments:
We are a long way from being out of the woods with the Greek crisis. In my view, Portugal, Spain, and Ireland, with their high levels of public debt and under funded entitlements are the next dominoes to be infected by the sovereign fiscal contagion.
After each of these countries have crisis, the UK is on the horizon.
As a result, as discussed before on this blog, I anticipate a strong run up in the US dollar as measured by the US dollar index as a "flight to safety" and increasing gold prices as measured in every fiat currency including dollars.
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