domenica 17 luglio 2011

With credit default swaps, banks loot world

With credit default swaps, banks loot world with a government guarantee


Section:

12:50p ET Saturday, July 16, 2011

Dear Friend of GATA and Gold:

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:

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/7/16_J...

Rickards will speak at GATA's Gold Rush 2011 conference in London in August. The conference's Internet site is being repaired at this hour but it will return here:

http://www.GATAgoldrush.com

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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