The ECB; Europe’s debt; and the US dollar
- 12 years ago
Watch the full 28-minute video at http://www.goldmoney.com/rallo-macleod-interview. In this video Juan Ramón Rallo, economist and university professor in Madrid, and Alasdair Macleod of the GoldMoney Foundation talk about Europe and the ECB.
While Rallo thinks that the ECB will finally resort to money printing, the right thing to do would be to privatise public assets in order to bring down debt levels. However Macleod points out that it will be difficult to find buyers if everybody starts selling at once. Also western countries don’t want to have Asian countries buy their public assets. Rallo says that our monetary system, which is no longer tied to gold, is very unstable and shows a lot of volatility. He believes that Europe could go bankrupt, but that the dollar could survive at the centre of the global monetary system.
This interview was recorded on November 15 2011 in Madrid.
While Rallo thinks that the ECB will finally resort to money printing, the right thing to do would be to privatise public assets in order to bring down debt levels. However Macleod points out that it will be difficult to find buyers if everybody starts selling at once. Also western countries don’t want to have Asian countries buy their public assets. Rallo says that our monetary system, which is no longer tied to gold, is very unstable and shows a lot of volatility. He believes that Europe could go bankrupt, but that the dollar could survive at the centre of the global monetary system.
This interview was recorded on November 15 2011 in Madrid.