James Turk on overestimated gold stocks, German repatriation and the EU crisis!

­Welcome to Capital Account.  President Obama won reelection last night and during his victory speech he declared, “What makes America exceptional are the bonds that hold together the most diverse nation on earth.” Bonds? Does he mean Treasury Bonds perhaps? This is what makes America exceptional: The country’s status as the global reserve currency, which allows it to issue bonds and keep on spending despite running trillion-dollar deficits. We talk to James Turk about what happens when the ‘bonds’ holding us together are no longer exceptional.

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