Stock markets around the globe rallied yesterday. Everything in Europe must be fine, right? The founder of the Daily Reckoning, Mr. Bill Bonner doesn’t think so. Here’s what he said about this yesterday:
“In Europe, Monsieur Sarkozy and Frau Merkel — not to mention an army of technicians, bankers and delusional incompetents — are finding ways to solve Europe’s debt crisis. How? By adding more leverage…debt…and confusion. To simplify, today’s bad debt will be guaranteed by tomorrow’s bad debt. The authorities are just hoping that between today and tomorrow is sufficient time for them to get away. It may be a bigger problem, they say to themselves, but at least it will be someone else’s problem. “
I can’t recall how many times I have heard the term “kicking the can down the road” in the last few years. I have my own can, and lately it is hard to kick. It’s filled with gold coins and numismatic silver coins. A can full of physical gold should be every investors doorstop in an era of broken promises by politicians. Call us today at Lear Capital to learn how to fill your can.