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Jean-Marie Eveillard continues:
“Not to mention the fact that in so-called emerging countries, because they are very reluctant to see their currency go up, they also have very easy monetary policies. Every now and then there is a crisis in Europe, and so the authorities try to buy some time. That’s, in essence, what they have been successful at so far.
They buy some time and then two or three months later there is a new crisis....
Continue reading the Jean-Marie Eveillard interview below...
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“In the end, in Europe, the Germans, they have been pushed around and they will continue to be pushed around.
Mario Draghi was very careful to say there were conditions associated with us (the ECB) buying Italian or Spanish bonds, and the Spanish and the Italians will have to abide by those conditions. But what if they don’t? What will Germany do then?
Will they object so vociferously that the euro blows up? The Spaniards and the Italians will pretend to be disciplined, and they won’t be. They won’t be because it’s too painful for their constituencies.
On the US side, (Eveillard says with a laugh) maybe Mitt Romney should never have said that he would not reappoint Bernanke at the Federal Reserve. Bernanke, he’s ‘all in.’ I’m not accusing him of wanting to continue as head of the Federal Reserve, but he knows that Mitt Romney does not want him to continue as head of the Federal Reserve.
So he is doing something which Obama is going to like, which is the idea of let’s print some money. Let’s have easy monetary policy, and it’s not just easy, it’s extremely easy now. I mean it’s unlimited purchases of assets. There is no indication whatsoever of deflation in the American economy today, but he is so afraid of deflation that he is printing money like there is no tomorrow.”
Eveillard also added: “As long as the monetary policies continue to be mindless, the upside (for gold) continues. I don’t know high is high(for the price of gold)? If governments try to make ownership of gold difficult or impossible, it will be much more difficult to do so than it was in the time of Roosevelt in the 1930s.
Investors today, they understand that government pretends that they decide what money is. (Congressman) Ron Paul was asking questions of Ben Bernanke several months ago, and he asked, ‘Do you think gold is money?’ Bernanke said, ‘No, gold is not money.’
(This was) In spite of the fact that, as Ron Paul pointed out, there is gold in the vaults of practically every central bank, and in particular the American Central Bank, the Fed. Although the gold is owned by the Treasury and not be the Fed, but it’s the same. So I don’t know how high is high (for the price of gold)?”
This was a tremendous audio interview with Eveillard. He discusses the big picture and what to expect going forward in gold, silver and much more. The audio interview with Jean-Marie Eveillard is available now and you can listen to it by CLICKING HERE.
© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
The interviews with Jean-Marie Eveillard, Bill Fleckenstein, Egon von Greyerz, Felix Zulauf, Rob Arnott, Michael Pento, Gerald Celente, James Dines and Marc Faber are available now. Also, be sure to listen to last week’s line-up of other KWN interviews which included James Turk, Art Cashin, and Egon von Greyerz by CLICKING HERE.
Eric King
Why Gold Is Heading Higher & Governments Can’t Stop It
Today legendary value investor Jean-Marie Eveillard, who oversees $60 billion, told King World News, “As long as the monetary policies continue to be mindless, the upside (for gold) continues.” He also said, “If governments try to make ownership of gold difficult or impossible, it will be much more difficult to do so than it was in the time of Roosevelt in the 1930s.”
Here is what Eveillard had to say: “Well, it seems that almost everybody is ‘all in.’ Mario Draghi is all in, Bernanke is all in, in the sense that both of them have announced ‘unlimited’ purchases of various assets. The Japanese, who believe they yen is too strong, they may be tempted to adopt a very easy monetary policy.”
© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast,
rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
September 19, 2012
