World News: King World News
Today legendary Jim Grant warned King World News that the world will witness extreme monetary disorder. Grant also discussed the impact this will have on gold and other major markets. Below is the first in a series of powerful interviews that will be released today on KWN with one of the most highly acclaimed individuals on Wall Street.
Eric King: “When you look back at history, how dangerous are these policies? How risky is this?”
Grant: “Bernanke himself has said, ‘Because we are learning by doing.’ Because we are learning by doing we really can’t use history as a guide. But we can know from history that experiments in radical creation of unconvertible units of currency, of script, have invariably had a bad outcome.
The more birthday candles I blow out, the less dogmatic I become about these things....
Today multi-billionaire Hugo Salinas Price told King World News a complete catastrophe is unfolding in Europe. He also called Fed Chairman Bernanke “a vampire” and urged people to hold gold and silver because they will be the last things standing. But first, Salinas Price warned about the serious dangers we are facing: “I think that unless we see legislation, somewhere, that is rational and recognizes that gold and silver are really different forms of money, and that this whole scheme of paper is unworkable, then the world is going to go down in flames. The only thing that would last will be people’s savings of gold and silver.”
Hugo Salinas Price continues:
“But what kind of a world that will be? I think it will be a very nasty world. In spite of having gold and silver, that may not be enough to save you. They’re good things to have, but what we actually need to do is save our civilization and not go down in flames.
I think the first thing to do would be to insert silver coins into the monetary system. That would be a healthy thing to do. I was very happy to see Ron Paul pull out a silver coin. To me it’s like he was facing the vampire Ben Bernanke with a silver coin, instead of a silver bullet.”
Hugo also issued this warning regarding Europe: “I was thinking this problem in Europe is going to eventually have to be felt here....
With so much turmoil going on around the globe, King World News interviewed one of the legends in the business, Jim Grant, Founder of Grant’s Interest Rate Observer. When asked about the Fed’s arrogance Grant responded, “I think there’s an intellectual cock-sureness that has no grounding. When you listen to Ben Bernanke as he held forth on Sixty Minutes at the end of last year assuring the journalist doing the interview that he, Bernanke, was 100% sure, 100% certain of what he could do, you cringe because nobody is 100% sure of anything in this world.”