Welcome to Capital Account. With Italian and Spanish bond yields back on the rise, we’ve recently seen the Dutch government collapse under the weight of austerity talks and French president Nicolas Sarkozy defeated after the first-round of elections. As price discovery is guarded against in the financial markets, are we seeing its emergence reflected in the delicacy of eurozone governments as discontent is being “priced into” the democratic process?

Central banks may not be waiting to find out if major currencies — the euro or the US dollar — will collapse or be devalued. They are stocking up on gold. IMF data shows Mexico added close to 17 tons of gold to its reserves in March. Turkey, Russia and Kazakhstan are buying gore too. We speak with GoldMoney founder James Turk about why he thinks central banks could be guarding themselves from the confetti cannon currency being shot around the globe.

  1. Alert. This is off topic guys/gals but I thought it extremely important. Check out Infowars.com. Bill 1813 is on its way to the House regarding “IRS to confiscate your guns and prevent the selling of guns to you at will, without trial or reason. Just like the passports if you don’t pay your taxes. I’m not a NRA member but I’ll check out their website to see if there is any info. This all has to do with the UN banning guns. Ya’ll know what to do.

  2. Lauren said oil was only up 100% since 2006 but-
    corn up 300%
    onions up 400%
    It’s past time to start adding food and energy to the inflation statistics.

    And I have no idea what James Turk said. Was he on the show?

  3. I think I heard Turk once or twice complaining about the commercial breaks. You are right though. The inflation should include gas and food as it is very real for people living pay day to pay day.

  4. Watched it live on TV Onions and Corn up but gold and silver down because the farmers don’t want the paper market. Now let me see, Mmmmm no paper market on gold and silver, bloody heck where would they be?

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