Passport Capital’s John Burbank on Resource Scarcity, Deficits, & Neglected Middle East

March 23, 2011

  • Either Banks or the Fed will need to fund the deficit once QE2 ends
  • The Sell off following the end of QE1 was severe
  • Saudi has 20% of the world’s oil and the swing capacity
  • What will Aramco do with a potential trillion dollars
  • Alludes to an efficiency as Saudi is not in an index, but will be in demand once the institutional world and sovereign wealth funds catch up.
  • Banks getting away with one over taxpayers once again with dividend payouts.


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