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In the News: May 6, 2010

National and international media consult with portfolio manager Axel Merk to gain his perspective on the currency market turmoil

Amongst others, portfolio manager Axel Merk has been contacted by:

  • CNBC
  • "Portfolio manager Axel Merk debates the state of the euro with CNBC Power Lunch."

  • FoxBusiness
  • Bloomberg
  • "... 'It’s obviously a panic. The issues in Greece are a global issue,' Axel Merk, president and chief investment officer of Merk Investments LLC in Palo Alto, California, said today in an interview.

    'The recovery priced in that access to credit is available, and cheaply,' Merk said. 'There may well be some defaults. If not Greece then some other nation.' ..."

  • Wall Street Journal
  • 'If the Fed had not stepped onto fiscal territory, this wouldn’t happen,' says Axel Merk, president of Merk Investments LLC. 'I don’t think it’s helpful for the Fed to be audited. But politicians now want to have a greater say in what’s happening at the Fed.' ..."

  • Reuters

    "Gold is yet another currency ... but it does not have the debt issue. It's not just a Greek problem, not just a European problem, but a global problem," said Axel Merk, president of California-based Merk Mutual Funds, which has $550 million fund assets.

    "Gold is one way that investors can try to diversify in a world where there are no risk-free assets anymore."

  • San Francisco Chronicle
  • "... Axel Merk, president of Merk Investments, said Europe has always been more reluctant than the United States to get out of a financial jam by printing money. 'Trichet said our focus is on price stability. And for the time being,' people believe him, he said.

    'Greece is a huge wake-up call to the rest of the world. Everybody spent too much. The bond markets are forcing countries to take austerity measures. They have to reduce government spending. And when they reduce spending, that reduces growth,' Merk said. 'This isn't a Greek or Portuguese or European issue. It's a global issue.' ..."

  • TheStreet.com
  • Nikkei
  • Financial Sense