Thursday, April 29, 2010

David Crichton-Watt Sees Gold Going Up To $1,500

Crichton-Watt, manager of the Phoenix Gold Fund, says that he will be surprised if gold does not hit $1,500 this year. The catalyst for his expectation is the Grecian government's fiscal crunch, which he expects to spread to other countries in Euroland.

Also quoted in the report was none other than Nouriel Roubini, who raised the possibility of monetization:
Nouriel Roubini, the professor who forecast the U.S. recession more than a year before it began, said yesterday that Greece’s problems may be “the tip of the iceberg” for a wider range of fiscal problems. Governments may print money to “monetize” their debts, fueling inflation, Roubini said.

The times are changing, and someone seems to be changing with the times...

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