Today top Citi analyst Tom Fitzpatrick spoke with King World News about the ongoing crisis in Cyprus, knock-on effects in key markets, and what investors should look for in the gold and silver markets going forward. Below is what top Citi analyst Fitzpatrick had to say in his latest report, along with 2 powerful charts.
Eric King: “Tom, the Cyprus disaster has so many people frightened, your thoughts there?”
Fitzpatrick: “I think at the end of the day some people focused on the size rather than the substance. At the early stages of last week, the European authorities were quite prepared to haircut insured depositors. While they may have pulled that idea back in, to a certain extent the cat is out of the bag….