Yra Harris is called a “trader’s trader.” He says the latest deal on Greek debt is just “pretend and extend. . . . The real problem is Spain because they’re big, they’re in debt and they have 27% unemployment.” Everyone in the Western world is dealing with the sovereign debt mess by printing money and suppressing interest rates. Harris predicts, “As long as real yields are negative, of course, gold is going to go up.” Harris is afraid inflation could get out of control and says, “It’s like being a little pregnant, you can’t really control it. Nothing destroys democracy like inflation–end of story.” If Democrats and Republicans can’t reach a deal to avoid the so-called “fiscal cliff,” then Harris contends, “Deflation . . . is bullish for gold because everybody knows what the central bank will do to answer the call . . . the Fed will become that much more aggressive.” No matter what, Harris is betting that “gold will be higher by the end of the year.” Join Greg Hunter as he goes One-on-One with trading legend Yra Harris.
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.