|The global economy will enter a “new dangerous phase in the autumn,” said today the World Bank president Robert Zoellick in Beijing.
Subscribe to our newsletter at www.goldmoney.com Egon von Greyerz, of Matterhorn Asset Management, and James Turk, Director of the GoldMoney Foundation, talk about the state of the global economy and gold’s status as a safe haven. They discuss S & P’s recent downgrade of US debt and also talk about the situation in the UK and in Switzerland. They discuss the Swiss franc and how its appreciation hurts the Swiss economy in the short term, however they make the point that strong currencies are always better for long-term growth and economic stability. James and Egon emphasise the importance of owning allocated physical gold outside the banking system. This interview was recorded on August 6 2011 in London. Video Rating: 5 / 5