Reply #23: Joe Saluzzi - It's going to crumble, it's just a matter of when

[DemReadingDU]

5/11/10
Themis Trading's Joe Saluzzi
The take home message "It's gonna crumble, it's just a matter of when." Alas, with gold now at $1,241 even lifelong Keynes fanatics are finally throwing in the towel. The time when we could have done something to fix the system is now long gone, courtesy of the administration's waffling for the past two years as instead of getting to the root cause of the last and future crash, it was focused on bailing out bankrupt banks.

And in related news, Jim Rogers, joins the Euro death squads, and says that the $1 trillion bailout is the "Nail in the coffin for the euro." As Rogers said in discussing the now failed bailout: "I was stunned. This means that they’ve given up on the euro, they don’t particularly care if they have a sound currency, you have all these countries spending money they don’t have and it’s now going to continue. It’s a political currency and nobody is minding the economics behind the necessities to have a strong currency. I’m afraid it’s going to dissolve. They’re throwing more money at the problem and it’s going to make things worse down the road.”

click link for 2 videos
http://www.zerohedge.com/article/some-less-rosy-scenarios-joe-saluzzi-and-jim-rogers