The Treasury plan is a disgrace: a bailout of reckless bankers, lenders and investors that provides little direct debt relief to borrowers and financially stressed households and that will come at a very high cost to the US taxpayer. And the plan does nothing to resolve the severe stress in money markets and interbank markets that are now close to a systemic meltdown.
Nouriel RoubiniI am quite international. My background, born in Turkey. My family is a Jewish family from Iran, so I went from Turkey to Iran to Israel, and then grew up in Italy and ended up in U.S. for graduate school. So I tend to look at things from an international perspective, and I think that gives you a little bit of a broader view of what's going on.
Nouriel RoubiniA currency serves three functions: providing a means of payment, a unit of account and a store of value. Gold may be a store of value for wealth, but it is not a means of payment. You cannot pay for your groceries with it. Nor is it a unit of account. Prices of goods and services, and of financial assets, are not denominated in gold terms.
Nouriel Roubini