What Investors Need to Know About Gold & the Mining Shares

Wed, 16 May 2012 15:48:13 -0400

With continued volatility in gold and silver, today King World News interviewed 25 year veteran Caesar Bryan. Gabelli & Company has over $31 billion under management and Caesar Bryan has managed the gold fund since its inception in 1994. Caesar addressed the mining shares, but first, here is what Caesar had to say about what is happening with gold: “You know we’ve seen these type of corrections in this gold bull market before, Eric. This reminds me a little bit of 2008, in the sense that there was this selling of quality assets across the board, in an effort to raise dollars.”

Rick Santelli - Traders Taxing JP Morgan to Exit Losing Position

Wed, 16 May 2012 12:00:33 -0400

Today Rick Santelli told King World News that traders and hedge funds are making it costly for JP Morgan to exit their $2 billion+ losing position. Santelli also said JP Morgan is “going to be at risk in that regard for many months.” Here is what Santelli had to say about the situation: “You know, Eric, I think we want to get to the bottom of anything with regards to JP Morgan for one reason, JP Morgan’s position really is about a hedge. This raises issues as to whether this hedge was used to speculate more than hedge.”

Pento - Here Is What Is Facing Investors & The World Today

Wed, 16 May 2012 01:27:47 -0400

With continued volatility in global markets, today Michael Pento, of Pento Portfolio Strategies, writes for King World News to discuss what is happening in key markets and what central planners are up to. Here is what Pento had this to say about the situation: “The gold stocks, as evidenced by the XAU and the HUI, are now pricing in a significant decline in gold, taking the metal down to where it was in the middle of the last decade, before QE3 or LTRO’s were even part of the global investor’s lexicon.”

Turk - Expect Tremendous Chaos, Europe Deteriorating Rapidly

Tue, 15 May 2012 16:16:36 -0400

With major markets around the world continuing to get hit, today King World News interviewed James Turk out of Europe. Turk told KWN the situation in Europe is deteriorating and the banking system is being severely tested. Turk also discussed gold and silver, but first, here is what Turk had to say about the crisis in Europe: “The situation here in Europe is rapidly deteriorating, Eric. Moody's downgrade of 26 Italian banks was just the latest nail in the coffin. It seems likely that more bank downgrades are coming in other countries because Europe is in a downward spiral.”

Brodsky - The Paralyzing Fear Among Investors Today

Tue, 15 May 2012 14:06:13 -0400

With continued volatility in global markets, today King World News wanted to speak with the firm that is calling for $10,000 gold. Paul Brodsky, who co-founded QB Asset Management Company, had this to say about what is happening and what to expect going forward: “Banks are trying to find all sorts of levered sources of revenues and they are taking more and more risk. The natural pressure is for bank loan books to contract. That’s what they are fighting and that’s what central banks have to fight.”

Who Is Crashing The System?

Tue, 15 May 2012 00:25:24 -0400

With continued volatility in many of the key global markets, 40 year veteran, Robert Fitzwilson wrote this exclusive piece for King World News. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the United States. Here are Fitzwilson’s observations: “We know that the world’s debt-based, fiat money system can only be revived and sustained by the combination of more debt creation and consumption. We have arrived at a critical point in history.”

Leeb - This is Why World Markets are Incredibly Unstable

Mon, 14 May 2012 16:08:42 -0400

With a sea of red across virtually all markets, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management. Leeb told KWN that global financial markets are in an extraordinarily unstable situation. Leeb also said investors should expect to see more “tumutuous events” ahead. But first, here is what Leeb had to say about the derivatives crisis the world faces today: “When you start talking about quadrillions (of dollars), you are talking about numbers that are 1,000 times larger than $1 trillion. GDP is measured in trillions, and when you start talking quadrillions, you are talking about numbers that dwarf worldwide GDP.”

Embry - This is One of the Greatest Statements of All-Time

Mon, 14 May 2012 12:44:03 -0400

With global stock markets tumbling, along with gold and silver, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management. Embry discussed gold and other major markets, but first, here is what Embry had to say regarding recent derivatives turmoil: “This makes me very uncomfortable because I’ve always been very wary of the whole derivative situation. I believe the notional value of the outstanding derivatives is comfortably north of one quadrillion dollars. The Bank of International Settlements changed the definition, so they said there is only $700 trillion worth of them, rather than one quadrillion.”

Richard Russell - The Next Sure Thing

Sun, 13 May 2012 16:48:44 -0400

With continued volatility in global markets, the Godfather of newsletter writers, Richard Russell, warned his readers to “be out of all stocks.” Here is what Russell had to say: “Between the years 2007 and 2009, we experienced the first part of a vicious bear market. The violence and rapidity of the losses in that bear market were shocking to most people. In fact, I'd say that the retail public was so shocked and wounded by the 2007 to 2009 bear market that they have stayed out of the stock market ever since.”

Don’t Be Seduced, Why Summer Will Be Disastrous for Markets

Sat, 12 May 2012 17:24:51 -0400

Today Michael Pento told KWN why “this summer is going to be disastrous for equity prices.” Pento, of Pento Portfolio Strategies, also stated he believes JP Morgan, the Fed and gold are headed for a major showdown. But first, when asked about the JP Morgan debacle, Pento responded, “I blame the Fed, like I do for much of the world’s ailments. The Fed buys a bond from JP Morgan, yielding say 2% on the 10-Year, and then they expect the bank, JP Morgan, to accept 25 basis points from the Federal Reserve. Now, they have to beat earnings by a penny, so what do they do?”

Rick Rule - This Can Bring Down the Entire Financial System

Fri, 11 May 2012 15:05:18 -0400

Today King World News interviewed one of the wealthiest and most street-smart pros in the business, Rick Rule. Rule, told KWN there is a “mismatch of some amount of money in the $100 billion range between credit default swaps.” He also said this is similar to what “brought down Long Term Capital Management (LTCM).” Rule, who is now part of Sprott Asset Management, also discussed gold and the mining shares, but first, here is what he had to say about what is taking place: “Well, I think that frames a big issue. We’ve been asking our clients to consider the macro question, if the institutional risk-off trade is to the US dollar and US Treasuries, that suggests the institutional investors believe that this rally and recovery in the United States is real. That’s big news if it’s true.”

Ben Davies - 3rd LTRO Coming & Fed to Power Up Swap Lines

Fri, 11 May 2012 12:40:50 -0400

With so much fear and uncertainty in markets around the world, today King World News reached out to Ben Davies, CEO of Hinde Capital. Davies told KWN that “Bank capital is scarce” and “the ECB will react with a 3rd LTRO as their is no alternative for them.” He also said, “the FED will power up the US dollar Swap lines.” Davies also discussed gold, but first, here is what he had to say about what is happening in Europe: “I would note we are in a deflationary spell. The European default process, I outlined over last few years, is about to become disorderly. The Greek risk escalates the disorderly default risk for others in the periphery. The ECB and IMF stand to lose most on the Greek default, hence the 5.2 billion euro disbursement, paid on 10th May.”