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IPFS News Link • Currencies

George Schultze: Another 100-150 Bank Failures Next Year, Gold To $2,000 Oz.

10-23-2009 • The Business Insider

Here are some highlights from our notes on the discussion.

ON WHERE THINGS ARE GOING

James Melcher, Founder and CIO, Balestra Capital:

"We're clearly in a deflationary environment" but government intervention sows the seeds of inflation. The outlook is "very grim." Most evaluations of the market are way too high. On the financial crisis: "There's nothing unusual about it. It happens every 10 or 20 years in our system. It always has, and I think we're seeing another bubble right now." So called "green shoots" will turn out to be just weeds.

Don Hanna, Managing Director,

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