The Bundesbank vs. the ECB

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GoldMoney
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Watch the full 39-minute video at http://www.goldmoney.com/hellmeyer-turk-interview. In this video Folker Hellmeyer, chief analyst at Bremer Landesbank, and James Turk of the GoldMoney Foundation, talk about the ECB and the Bundesbank. James Turk makes the point that the ECB has become more political and less independent than the Bundesbank was which makes the euro a weaker currency. Hellmeyer argues that it is the wiser choice to break rules by buying up sovereign debt of eurozone countries than to let the whole financial system collapse, risking global political instability. He still believes that the ECB stands for a relatively stable approach in comparison to other central banks. He also points out that the Bundesbank never faced a similar crisis to the one the ECB is now facing.

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

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