In this "FS Insider" Newshour Jim welcomes back Axel Merk, Founder and portfolio manager at Merk Investments LLC. Axel sees a continuation of excessive spending and money printing by governments around the world. Austerity is not a popular policy and is very difficult to sustain. Facing a "fiscal cliff" in the US next year and continued easing from the Fed, Axel sees holding gold as a much better risk than US dollars. He advocates a diversified basket of currencies, including gold, to manage both risk and volatility.
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