Jim Rickards On Greece, The Euro & China
At the peak of the last panic surrounding the euro currency Jim Rickards described why it would strengthen against the dollar in the coming years. That rise in price occurred as the panic subsided, but once again we have seen the seesaw fall the other direction with a large decline in the euro against the dollar and panic on the streets over the future of the European currency. While I personally have no desire to own either currency long term due to massively over-indebted governments and structurally flawed economies, the pessimistic cloud surrounding the euro has it set up for a short term see-saw rise in the other direction against the now beloved U.S. dollar. Jim Rickards reviews again why he believes the drama over Greece will settle and how a bigger concern may be the economic problems coming for China.