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Sovereign Debt Crisis Looms: Currency Wars are Ramping Up Warns Billionaire Investor
“Canada was going in the direction of Argentina where lots of devaluation, lots of inflation,” says Rob McEwen, chief executive officer of McEwen Mining. He highlights how Canada’s increasing regulatory and political challenges could potentially harm its resource industry, similar to the difficulties faced by Argentina. McEwen also discusses broader economic concerns, noting that “there’s too much out there. Too much monetary stimulation has occurred and too much debt has been incurred. It’s going to come along and bite everyone.” On his outlook for Canada, he adds, “I think we have a country that shouldn't be run by someone that was a part-time drama teacher.” Addressing the gold market, McEwen predicts, “We’re at $2,500 and we’re going to go to $5,000 at a minimum. Now, it might take a couple of years.”
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