from King World News
As contagion fears begin to engulf global markets, today James Turk discussed the crisis and said gold will move to center stage.
Evergrande Crisis, China And The Metal Of Kings
September 20 (King World News) – James Turk: The problems with Chinese real estate giant Evergrande are taking centre stage, Eric, and rightly so. A default on its $300 billion of debt could really knock the markets. But the important question is whether the turmoil already being created is the start of a financial crisis, or just a warning shot over the bow.
There were plenty of warning signs before the 2008 crisis. Two Bear Stearns real estate funds collapsed in May 2007, highlighting the fragility back then, which was followed by the collapse of Northern Rock Bank in England in August 2007.