In his latest interview with King World News, geopolitical analyst James G. Rickards says credit default swaps are fraudulent mechanisms by which the "too big to fail" New York investment banks like J.P. Morgan Chase and Goldman Sachs loot the world with an implicit U.S. government guarantee, making them de-facto agencies of the government.
Rickards adds that he thinks Federal Reserve Chairman Ben Bernanke's comments this week about a third round of "quantitative easing" were misconstrued and that QE3 is not really likely.
Rickards also remarks on Bernanke's insistence to U.S. Rep. Ron Paul that gold isn't money. "Money is what the market says it is," Rickards observes, and Bernanke may not be the last word on the subject.
You can listen to the interview at King World News here: