Prechter – Debt Is the Problem, Not Paper Printing

Goldseek radio has an interview with Robert Prechter here.

Prechter’s 2002 book, “Conquer the Crash,” predicted the current economic collapse and this is an interesting and wide-ranging interview. Prechter is a renowned Elliot Wave theorist and a long-time prophet of depression.

Summing up his most important points:

*We have been in a developing deflation since 2002

*Debt is the problem, not paper-printing.

*Gold will hold value and do well, but it won’t go to the moon

*Cash is a good place to be

*The market will go down for a replay of 2008, in spades