Yesterday, I reported that World Bank president Robert Zoellick is bullish on gold because of the financial uncertainty in the world.
Former Treasury Secretary Robert Rubin has pretty much the same message. At an event at the Canadian Embassy in Washington D.C., Rubin said:
My own view is that the probability is likely somewhat better that, despite all the immense difficulties, they will wind up working their way through this, though it will be lengthy, volatile, there will be plenty of time for them to have a real risk of going off the road. The only reason I think that is because the alternative is so horrendous.
This is the sense I am getting from all these guys. I think what they expect is that the EZ will put together what Geithner calls a "fiscal union." They seem to have the politicians in line. As I have reported, both the new heads of Italy and Greece are bankster operatives.