With continued uncertainty in major markets, as well as gold and silver, today King World News interviewed James Turk out of Europe. Turk discussed the aftermath of the Greek elections and what investors should expect going forward. H is what Turk had to say about what is taking place: “The Greek election has come and gone, Eric, but the Greek vote has changed nothing. Europe is still in a severe crisis, and every attempt to solve this crisis has failed because no serious solutions have been proposed. All the central planners did was buy time, and that precious time has been squandered with their various schemes.”
James Turk continues:
“There are two crises actually, Eric, but they are interlinked. Worryingly, these sovereign debt and bank insolvency crises are deepening. Today we have Spanish 10-year yield topping 7%. That is the level that brought Greece, Ireland and Portugal to their knees. These countries asked for bailouts because private lenders no longer wanted to take the risk of lending money to them.