Merk In The News     |      Merk Funds News
Home > Media > April 8, 2013

Merk In the News: CNBC
Subscribe to our Newsletter

Portfolio manager Axel Merk tells CNBC the yen will become worthless

"The Japanese yen eventually will become 'worthless' now that the Bank of Japan has launched an aggressive bond-buying program with no end in sight, said Axel Merk, president and CEO of Merk Investments, Manager of the Merk Funds, who set his price target for the currency at 'infinity.'

'The dynamics for the yen have changed. Over the last couple of years, the correlation between the yen and the VIX (CBOE Volatility Index) has deteriorated, which means the yen is no longer the safe haven it used to be,' he said. 'The yen's current account is eroding, which means all this deficit is suddenly going to matter.'..."


Share