With most major indexes around the world trading in the red, today King World News interviewed 25 year veteran Caesar Bryan. Gabelli & Company has over $31 billion under management and Caesar Bryan has managed the gold fund since its inception in 1994. Caesar told KWN that there is now massive pressure on the Fed and the ECB to print money. Here is what Ceasar had to say about the situation: “Here we are in the post-Spanish bailout period, and now we are waiting, in terms of Europe, for the Greek election. But the larger issue is that there has been no permanent solution put in place for the European debt crisis. The steps that have been taken so far are sort of Band-Aids.”
“At some point there is going to have to be a larger solution. Clearly we are not at that point yet, although we are heading toward there. I believe there is a powerful institutional desire to maintain the euro. Therefore, at some point, the ECB is going to have to play a more active role.
This will involve purchases of sovereign debt, and there will be other things they can do. It’s virtually impossible to see the ECB not becoming considerably more active…. Read more here…