Yra Harris is called a “trader’s trader.” He says the latest deal on Greek debt is just
“pretend and extend. . . . “
The real problem is Spain because they’re big, they’re in debt and they have 27% unemployment.” Everyone in the Western world is dealing with the sovereign debt mess by printing money and suppressing interest rates.
Harris predicts:
“As long as real yields are negative, of course, gold is going to go up.”
Harris is afraid inflation could get out of control and says:
“It’s like being a little pregnant, you can’t really control it. Nothing destroys democracy like inflation–end of story.”
If Democrats and Republicans can’t reach a deal to avoid the so-called “fiscal cliff,” then Harris contends,
“Deflation . . . is bullish for gold because everybody knows what the central bank will do to answer the call . . . the Fed will become that much more aggressive.”
No matter what, Harris is betting that
“gold will be higher by the end of the year.”
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