Watch the full 32-minute video at http://www.goldmoney.com/sprott-turk-munich. Eric Sprott, Chairman of Sprott Asset Management, and James Turk, Director of the GoldMoney Foundation, talk about the short-term focus of political decisions and the bad omens for the dollar as a world reserve currency. Kicking the can down the road is increasingly not an option for bankrupt governments, as even the bond markets are increasingly uncooperative with new stimulus efforts. As an example the recent failed attempt by the EFSF to raise 3 billion.
They talk about the IMF creating $280 Billion SDRs out of thin air and ask whether that will keep the party going a bit longer.
This interview was recorded on November 4th 2011 in Munich.
