The global financial crisis is set to get worse, with a large US bank likely to collapse in the next few months, a former IMF chief economist has warned.
Kenneth Rogoff's comments came as shares in Fannie Mae and Freddie Mac sank on a report that the home lenders would, in effect, be nationalised.
"We're going to see a whopper, we're going to see a big one, one of the big investment banks or big banks."
In this case gold should be much stronger and the dollar will head down again. Something to watch carefully.
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George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
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