El-Erian : Europe America and Japan are all debasing their currencies

Mohamed El-Erian PIMCO CEO/co-CIO. :at least one and probably three of the PIIGS are definitely going to restructure....we are in a world in which the G3 , US Europe and Japan are debasing their currencies and when the world sees that it goes into commodities , If you can align micro and maco uncertainty, you can unleash an incredible rally in the markets,




Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

El-Erian : Default is off the table

Mohamed El-Erian PIMCO CEO/co-CIO. :" I think unlike what he said on banks and on Europe he didn't add much on the debt ceiling issue. it's important to reiterate that default is off the table. it's not enough to just say that. this is a market that's facing a lot of uncertainties both domestically and globally. there is underlying deleveraging tendencies. we need a more proactive approach at this point. we need a vision as to how it is that we can both avoid default and avoid a downgrade. that didn't happen today. that's why the market reaction has been, well, he didn't really say much"

Mohamed El-Erian : we have to take Moody warning seriously

Mohamed El-Erian : "so importantly now two distinct warnings. not one but two. the first warning is if we don't get our act together in time we will be downgraded. the second warning is even if we get our act together ahead of the debt ceiling but it doesn't involve meaningful fiscal consolidation, then we will stay on negative outlook and that second warning is a really important one and speaks to something more general. I've always hated this word transitory. because transitory comforts you into complacency. we heard japan was transitory. guess what four months later we're feeling the impact. we heard oil at 100 is transitory. we're still. we heard unemployment at 9% is transitory and we're still. this debt issue will not go away quickly enough and we have to take this warning seriously."




Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Mohamed El-Erian : Italy less worrisome than Greece

Mohamed El-Erian speaking to CNBC about the Italian debt situation and the European Debt in general , Weighing in on the markets and the crisis in Europe, with Mohamed El-Erian, Pimco co-CEO/CIO, who says there are still problems that have not been resolved yet.Europe is viewed as unable to deal with the debt El-Erian says , Italy is very different from Greece and Portugal it is less worrisome than Greece Ireland or Portugal , but this is about people worried about Europe's ability to deal with its debt , Italy debt is mostly owned by domestic banks , we may not get a fundamental contagion but we can get a technical contagion