Eveillard - Mass of Government Debt Underpinning Gold Market

"He figures and I think he’s probably right, that government debt is gigantic today because in order to fight off the deleveraging of the private sector, most governments have gone into debt in a major way

I mean not just the US, but the UK, Continental Europe, Japan, of course, even more than the others. That’s where Spain comes in. Some government debt is already suspect. Greek debt, of course, they just, in essence, defaulted.

Spain and Italy have become suspect too. I think at some point the American government debt, along with British German, French and Japanese government debt, will all become suspect. At that point the crisis will be such that the public will want something different.

I think when the public begins to accept that the governments have their backs against the wall, that government debt has become worse than suspect, that’s when the time will come to sell gold. But we are not there by any stretch of the imagination. 

The money printing is prevalent practically everywhere. That’s why I think the price of gold is simply in a correction.”

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/4/6_Eveillard_-_Mass_of_Government_Debt_Underpinning_Gold_Market.html

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