It seems to defy logic that with gold prices at historic highs, the stock in many junior gold companies has been languishing. VishyKaramadam says now is the time to give those shares a second look. Gold Report Interview by Brian Sylvester.
The Gold Report: The United States narrowly averted defaulting on its debt obligations at the beginning of this week. What do you make of this high-stakes game of chicken that was played out on the global stage by American politicians?
Vishy Karamadam: It shows the difficult situation in the U.S., and to a similar extent, in Europe. Too many promises have been made to citizens without the resources to deliver on those promises. The debt ceiling is a symptom of the larger problem in all these countries as they deal with, “How do I cut down and where do I cut down?”
For the U.S., it is also indicative of a more fractured political system, which is preventing the debt ceiling from being raised, a fairly routine exercise under Ronald Reagan, George H.W. Bush and George W. Bush.