In the News: Bloomberg

Portfolio manager Axel Merk tells Bloomberg that the U.K., U.S. and Japan might be in a worse situation than the euro zone is in

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Europe’s debt challenges are no greater than any other major economy, and may be less severe, according to Axel Merk, the president and chief investment officer of Merk Investments LLC in Palo Alto, California. The firm manages the Merk Hard Currency Fund.

'The issues we see in the euro zone are not euro-zone specific problems, as most countries in the world have spent too much money,' said Merk, who expects the euro to gain. 'The U.K., U.S. and Japan might be in a worse situation than the euro zone is. We continue to believe it is more difficult to spend and print money in the euro zone than in other countries.' ..."