This morning, famed hedge fund manager, George Soros, who made $1 billion betting against the Bank of England some years ago, thought it was a 50/50 proposition that Greece would exit the euro. My feelings are it's closer to 100%, and it's just a matter of time before Greece implodes. The bottom line is, they don't want to pay back the money that they have borrowed in the past.
If and when this happens, the financial ramifications will have a profound effect on the world. Whether this means a run to hard assets like gold or the beginning of an inflation cycle, it is too early to tell. Continue reading "George Soros Says 50/50, I Say 100%!"
Gold futures fell to a six-month low after Federal Reserve Chairman Bernanke says the U.S. economy is recovering, easing pressure for more stimulus measures by the U.S. Government.
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