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Saturday, November 13, 2010

King World News Interviews

This week King World News interviews Jim Rickards (part 2), Michael Pento, Ben Davies & Art Cashin.  The interviews with Jim Rickards I would say are a must listen, very insightful and important information coming from Jim this week. 

Jim Rickards Part II - Discusses new events of the U.S. Military performing exercises to respond to riots based on the collapse of the dollar.  Jim also talks about Robert Zoelick's (president of the world bank) comments on gold somehow being tied to the dollars value, legitimizing gold as a currency.  Jim brings up that the U.S. Government is printing money to devalue it to get consumers scared into buying while things are cheap.  China and others doesn't believe us, and believes (based on Pres. Obama's comments) that we entered the currency war to create a trade war.  Jim notes that during Weimar the stock market went up even though the currency was diving, this is because the stocks value in dollars is worth more dollars as the dollar is devaluating.
Michael Pento -  Discusses the Fed's decision to blow up the economy through inflation and asset bubbles. Michael also talks about the changes in story between the Fed and Treasury Secretary in monetary policy position and the underlying action continues to be dollar destruction.  He also talks about runaway inflation and its impacts on the global market if things don't change.
Ben Davies - Discusses debt in the U.K. compared to their GDP.  Ben also discusses the moves in Gold/Silver and how it correlates to demand in the market.  Ben also talks about the increased margin requirements for Silver futures contracts and its downward pressure on Gold and Silver in the latter part of the 
Art Cashin - Discusses China's market plunge due to the concern of rising interest rates in China.  China trying to contain their economy with rising rates and a slowing economy, would impact the rest of the world markets.  Art also discusses the commodity inflation that is occurring due to the consequences of quantitative easing.

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