July 19, 2012
With continued uncertainty in global markets, today King World News interviewed 25 year veteran Caesar Bryan. Gabelli & Company has over $31 billion under management and Caesar Bryan has managed the gold fund since its inception in 1994. Here is what Ceasar had to say regarding the ongoing financial crisis: “This has been sort of a slow-burn crisis. There are going to be times when it flares up, and other times, strangely, it is relatively quiet. I should mention there was a major downgrade of Italy last Friday, and there are rumors in the market that Spain could be downgraded next.”
Caesar Bryan continues:
Right now, the Spanish Ten-Year bond is yielding almost 7%, it’s trading at 6.93%, and the Italian yield is at almost 6%. That’s unsustainable. That’s not going to work because they won’t be able to refinance themselves. Clearly there are these huge imbalances which remain in most of the major economies.
And the central banks are now using policy in a blatant attempt to encourage inflation….