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Investors should go long on gold, Swiss Franc and the Australian doll
INVESTORS SHOULD GO LONG ON GOLD, SWISS FRANC AND THE AUSTRALIAN DOLLAR AMID THE U.S. CONGRESSIONAL SHUT DOWN, SAYS ENZIO VON PFEIL OF MCL ASSETS LIMITED.
SHOWS: HONG KONG, CHINA (OCTOBER 2, 2013) (REUTERS - ACCESS ALL)
ENZIO VON PFEIL, COMMISSION-FREE INCOME PLANNER, MCL ASSETS LIMITED
1. (QUESTION GRAPHIC)
"The U.S. government has partially shut down for the first time in 17 years, what do you make of the situation?"
2. ENZIO VON PFEIL SAYING:
"Well the immaterial thing is really that the government has shut down. We kind of know the numbers - that it's all of naught point one six percent of U.S. GDP that's at cost every year. We also know that it's only one third of government that is shutting down, namely that portion of government which the congressional committees can appropriate money to. And of that one third it's only one half of that, so it's one sixth - again, naught point one six percent of U.S. GDP, not a big deal. The big deal is really that Congress is shut down, it's becoming an absolute zoo. They may have shut down the park, the national parks in America, but they certainly have opened the national zoo called Congress. And so I think that this is the big deal because of the default concerns that are going to come from this later on. So that's the big deal; it's the congressional shut down, it's not the government shut down."
3. (QUESTION GRAPHIC)
"Where do you think investors should put their money now?"
4. ENZIO VON PFEIL SAYING:
"I think they should be shorting stocks because I think that what we are going to see is a huge spike in U.S. bond yields once it becomes very clear that Congress has no interest, absolutely no interest in solving this problem. And the reason that I say this is because Congress is now already focused very much on those 2014, the November the fourth 2014 elections - one third of the Senate, the whole of the House, and that's what they are really going for. The current squabble is immaterial to them, it's a vehicle, it's a stepping stone to get re-elected. So I am saying, I am suggesting to your viewers that I think that you'll find the stock market really having a very very...
I've had a look at the attached video discussing the potential impact of the U.S. congressional shutdown on the financial markets. While it's from 2013, the insights are still quite relevant, and Enzio Von Pfeil made some interesting points.
He suggests that investors should consider going long on Gold, Swiss Franc, and the Australian Dollar amid the congressional shutdown. His rationale, focusing on the potential spike in U.S. bond yields and the political motivations of Congress, provides a unique perspective on how such events can influence market dynamics.
Although this is a bit dated, it's a good reminder that political events can have a significant impact on the financial markets. If you're interested in these currency pairs and commodities, it might be worth considering his advice as part of your trading strategy. It's always valuable to learn from the insights of experienced market analysts.
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