George Soros, the chairman of Soros Fund Management and liberal billionaire, was out on the wires earlier today, warning about another major financial crisis.
Key Points:
“Everything that could go wrong has gone wrong".
The termination of the Iran deal and the destruction of the transatlantic alliance was just the start. The two is bound to have negative implications to the European economy and will also cause other dislocations.
The strength in the dollar is also precipitating a flight away from emerging market currencies and with the EU facing an existential crisis now, it's pretty much a recipe for a crisis.
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Persistent safe haven demand continues to prop up the march north in Gold prices so far on Friday, hitting new two-week tops past the key $2,700 mark per troy ounce despite extra strength in the Greenback and mixed US yields.
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