Frank Giustra is a billionaire that made his money in the mining industry. He was born in Sudbury and lives in West Vancouver. If you are at all interested in what is happening in the economy, or financial markets, watching this is a must. It is a sobering and thoughtful account of where we are now and how the next few years will likely play out.
In this interview, which originally appeared in Business Insider, Frank addresses questions such as:
- Why is inflation more likely than deflation in the coming years?
- Why are high debt levels in the Western world such a problem?
- What can central banks and governments even do to deal with these debts?
- Will the Euro survive?
- Why is printing money generally good for equity markets?
- Why is printing money generally bad for savers?
- Why is gold likely to go much higher?
- Why are resource stocks so cheap at the moment?
- What other assets will do well in an inflationary environment?
Even if you can only watch the first 15 minutes, it is well worth your time.