Axel Merk- Fed is at Fault for Everything-Including ISIS and Ukraine

Coming financial crash, War and Gold are all talked about with Axel Merk. Axel Merk of Merk Funds thinks there is a common denominator with ISIS and the Ukraine crisis. Merk charges, “The Fed is at fault with everything, including ISIS and Ukraine. We have fostered an environment over the last 15 years where we are eroding the middle class by having these ultra-low monetary policies. It drives global over production. What is happening is you have commodity prices high where corporations get squeezed. You have no pricing power. You have a flood of goods, and final goods prices are low. So, what happens are real wages stagnating in that sort of environment. In the U.S., you have the rise of the Tea Party and Occupy Wall Street, but what you got in the Middle East are revolutions because people can’t feed themselves anymore. In Ukraine, the problem is they can’t balance their books. They can’t afford the natural gas. This is a common problem throughout the globe. . . . We have to get back to sound monetary policy. That is why the Great Depression ended up in World War II, and these same sorts of forces play out when people get dissatisfied.”