Watch the full 37-minute video at http://www.goldmoney.com/davies-turk-interview. Ben Davies (http://hindecapital.com) and James Turk, Director of the GoldMoney Foundation, talk about the economic outlook and how growth is slowing in the US and the EU as the sovereign debt crisis takes its toll.

They discuss the probability of further rounds of monetary stimulus, be it QE3 or an equivalent. They also explain how this could result in a crack-up boom as described by the Austrian economist Ludwig von Mises. They both see gold as undervalued, but explain the problems of using dollar price targets because the fiat dollar is a changing yardstick.

Ben Davies explains that money, like any other good, is affected by supply and demand, which set the price.

This interview was recorded on August 4 2011 in London.