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Jim Rickards continues:
“This was billions of dollars, it was just theft. They might as well have held a gun to the heads of these teachers and firemen and police officers and other workers and picked their pockets. So I would like to see some of these bank CEO’s on chain gangs.
Unfortunately that’s not going to happen because the US has made a policy decision not to prosecute these banks, even though these are criminal acts because the system is too fragile. So they are being let off the hook.
One thing Markopolos forgot to mention was that they (Bank of New York Mellon) are the largest clearing venue for the government securities market. It’s all done buy the Fed and Pimco, etc. and the lions share of those transactions clear and settle through the Bank of New York.
So if you take down the Bank of New York you are going to take down the government securities market and therefore it won’t happen. So this will be finessed, but it should not be finessed. People should be in handcuffs as far as I’m concerned.”
Jim Rickards discussed at great length during this interview where gold, the dollar and the euro are headed. There is too much information to transcribe for this piece, but it’s safe to say that Rickards is bullish, “Gold will make its way to $2,000 and this time it’s going to break through.”
The above is just the tip of the iceberg from this incredible interview with JIm Rickards. It is packed with information on how events in the weeks and months ahead will impact gold and so much more. The outstanding KWN audio interview with Jim Rickards is now available and you can listen to it by CLICKING HERE.
Tangent Capital in New York and the author of
“Currency Wars: The Making of the Next Global Crisis”
Penguin/Portfolio Nov., 2011, to pre-order CLICK HERE.
© 2011 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
Eric King
Rickards - People Should be Arrested & Gold Headed to $2,000
With gold and silver continuing to consolidate, today King World News has released the eagerly anticipated audio interview KWN Resident Expert Jim Rickards, Senior Managing Director at Tangent Capital Markets. Jim Rickards was not only talking gold, he also discussed the KWN interview with giant killer Harry Markopolos, where Markopolos accused Bank of New York Mellon and State Street of stealing $6 to $10 billion from the pension funds of tens of millions of Americans. Rickards stated, “This is not some technical dispute about pricing, this was the crime of the century. I mean what these banks did to their foreign exchange customers, the pensions, their endowments, their other institutional investors, their insurance companies, these are basically the savings and investments of all of the people of the Unites States of America.”
© 2011 by King World News®. All Rights Reserved. This material may not be published, broadcast,
rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
October 10, 2011
