Is Europe better off than the US, the UK and Japan?


by GoldMoney

Watch the full 39-minute video at In this video Folker Hellmeyer, chief analyst at Bremer Landesbank, and James Turk of the GoldMoney Foundation, talk about the eurozone in comparison to other debtor nations. Hellmeyer points out that the ECB is trying to monetise as little as possible, contrary to what the Bank of England and the Federal Reserve are doing. He also believes that European countries are in a much better shape than reported. He agues that there is aggressive speculation against the eurozone that disregards the reforms that have been undertaken, while other countries are simply monetising without any fiscal reforms. He points out that regarding debt to GDP ratios, budget deficits and reforms Europe is in a much better shape than for instance the US, the UK or Japan. This unfair treatment of Europe has a political taste to it and Hellmeyer even calls it a “scandal”. As a solution he proposes ring-fencing by the ESFS and the ECB.

This video was recorded on November 4 at the Edelmetallmesse 2011 in Munich.