Watch This Level-Headed Version Of Marc Faber Completely Disembowel The Logic Behind Europe's Bailout Fund

Can’t quite get your head around the European bailout’s logic? You’re not alone. Watch David Roche of Independent Strategy completely disembowel the logic behind Europe’s enormous gamble.

Starting at 0:20:

“There is not one word in what was decided yesterday as to how the austerity measures which will enable these countries to become solvent again are going to be enacted by them, democratically, in the face of resistant politicians. All I see is a huge amount of leverage being taken on by countries which are supposedly strong, like Germany which has 80% of GDP in government debt, to bail out countries which have 135% of GDP in government debt. I can really not see how adding to already excessive sovereign debt is going to cure the impossible sovereign debt of countries which are patently insolvent.”

Is it just us, or does this man sound like a less hyperbolic and more eloquent version of Marc Faber?:

At 3:30:

“Either so much money is printed or created and thrown at people to actually cover their insolvency with waves of free money and waves of liquidity that we end up with fiat currencies being completely devalued in the eyes of people and gold at something like $7,000 an ounce, or alternatively… eventually the governments will default on their debts.”

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