Off the Cuff: The Pain In Spain Is Sending Europe Down the Drain

In this week's Off the Cuff with Mish & Chris podcast, Mish and Chris tackle:

• The Ongoing Mess That is Europe
  • Spain suddenly looks like it may exit the euro sooner than Greece
• The Future of the Dollar
  • While dollar bears have been burned in the short term, it doesn't mean they're wrong
• Why it's Still Smart to Hold Your Gold
  • None of the long-term fundamentals have changed

Europe's woes are increasing at an accelerating pace now. Fresh news out of Spain has caused interest rates on its sovereign debt to skyrocket -- now approaching 7%. The euro has been weakening hard vs the US dollar. The various European leaders are at odds at how to proceed next. Except on one point: their intent to keep the Ponzi scheme going for as long as possible to avoid the losses that need to be (must be!) realized.