“If I were Greece or Portugal or Spain, I would say ‘bye-bye.’ I exit the EU. And the debts in EU, that’s your problem.”
The above commentary is from Marc Faber, author of the widely-read Gloom Boom & Doom Report. In a recent interview with Fox Business News, Faber argued that a dissolution of the European Union would be in the best interests for Europe in the long-run.
“The best would be to dissolve the EU…let the markets sort this out. Let the countries default,” he asserted. ”It’s going to be painful – very painful. But rather than to again intervene into something that is not going to work in the long run is the wrong medicine.”
Additional highlights from Faber’s commentary included:
“Sometimes it’s better to default and take the medicine then to pretend that there is no financial trouble.”
“What do these bureaucrats in Brussels do besides eating well and sleeping the whole day…and sharpening their pencils? They’re precisely the useless bureaucrats that have brought about the financial crisis worldwide.”
“Somewhere, somehow the central banks will agree to print money. It may not be called QE3. And in Europe it may not be the ECB that buys bonds, but they may do it through the IMF or some kind of other institution.”
The interview can be viewed in its entirety below:
Klondex Set to Advance Fire Creek Development
* Fire Creek is strategically located between the past producing Mule Canyon Mine to the north and the world-class Pipeline and Cortez gold deposits to the south.
* The property is readily accessible via Federal and state roads, is close to the electrical power grid, and is within 50 miles driving distance of two large mills.
* Klondex recently announced that its active 2011 surface drilling program continues to find new gold veins and to expand the scope of the resource at its Fire Creek.
