In the News: Financial Post

Portfolio manager Axel Merk tells Canada's Financial Post central banks have moved from talk to action

“ 'Central banks are trying to diversify but it’s very difficult because the U.S. dollar is the deepest and most liquid market in the world,' said Axel Merk, chief investment officer at Merk Mutual Funds in Palo Alto, Calif. 'Nevertheless they try, and Canada is one of the beneficiaries.'

'Because of the small size of Canadian dollar issuance relative to other currencies, it doesn’t come close to providing any kind of a solution for Russia and others looking to get away from U.S. exposure,' Mr. Merk said.

'Central banks have moved from talk to action and something has been set in motion,' Mr. Merk said. 'Now everyone is hoping it will happen in orderly fashion.' ”