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Sunday, February 6, 2011

Weekly King World News Interviews

This week King World News interviews Jim Rickards, Gerald Celente, James Turk and Ben Davies.  Topics cover Russia gold buying, world hunger and inflation, Tunisia, Egypt and the Economy.  Please keep in mind like anything you look at what interests each individual has in gold and silver.

Jim Rickards - Discusses various ideas on getting out of this currency crisis, one that centers around multiple reserve currencies.  This idea wouldn't involve the dollar going to zero.  The other idea are gold back currencies.  Jim talks about events in Davos that effect our monetary system and the fact that Russia is looking to buy 100 tonnes per year and are diversifying away from the dollar by creating their own sovereign wealth fund.  Jim also talks about how food is going up all over the world resulting in food riots.

Gerald Celente - Discusses why the rioting is happening around the world (lack of food) and how all of this is going to result in world wars as they have in the past (per Gerald).  Gerald talks about how we have to get ready for what is to come, physically, mentally and other.  He thinks that alternative energy will be a game changer going forward and need to increase our productive capacity.

James Turk - Discusses long term interest rates, interest rates are going much higher.   He discusses how interest rates are going up even though the FED continues to print money to suppress interest rates.  James talks about how tight the silver market is as it is in backwardation now and silver is leading the way.  He mentions how the silver mine production is fixed for the next few years and will cause it to go up higher.  He discusses the contraction in open interest in silver and that things are looking bullish for metals.  He talks about sovereign issues are going to come to roost here shortly as Japan has been downgraded recently.  They also discuss how many of the dealers have run out of 100oz silver bars.

Ben Davies - Discusses manipulation in the gold and silver market and what is occurring with recent selling and how their is an extreme amount of physical tightness in the market.  Ben talks about possible inaccurate reporting in the SLV and GLD.  He points out that redemption of baskets of shares for physical possession is a sign of a shortage of gold.  Throughout 2010 flows into gold ETF's has been much less than 2009 and this redemption in the GLD is a sign of a need for gold not a desire to dump it.

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