Charlie Bottle

Will Italy Be the First to Pull Out of the Euro?

Dany, congratulations. Do you know how much sovereign debt Italy has?....About 2.5 trillion US$. That's 30X those goldreserves you mention. This s the "on balance" sheet liabilities. Euro governments have been creative in moving liabiltes "off balance sheet" so this is just a fraction of total libilities. Italy is broke and will likelly have to restructure debt...My guess in less than 3 years.

My Top 10 Market Predictions for 2009

Ed, thanks for sharing your views on such a broad rage of areas. One comment: I share your bearishness on China's Economy. In all likelihood it is already contracting. In any case no way you can be vindicated on your berishness as the offcieal figures will certainly not fall below 5%.