Jim Rickards on CNBC Gold Target of $5,000 - $11,000

Jim Rickards on CNBC Squawk Box discussing China and the currency issue. Jim also talked about his gold target of $5,000 - $11,000/oz and they acted like he was crazy. Rickards also said all fiat currency will collapse, including the dollar.

Ben Davies of Hinde Capital Tells CNBC Why Gold Is The First Currency of Resort

Peter Schiff Bearish on US Treasuries - Peter Schiff on CNBC Fast Money: Interest Rates to Surge on China Move?

"Long term, US Treasuries have no way to go but down"

Harvard Professor Neil Ferguson on CNBC on US Debt & the Mortgage Crisis

http://www.businessinsider.com/niall-ferguson-yuan-2010-6
White | Jun. 21, 2010, 1:16 PM | 3,232 | 25
Niall Ferguson of Harvard University spoke with CNBC this morning about the yuan revaluation, saying it was too small to matter for the U.S. trade balance. He also speculated on the difficult future facing the U.S. regarding its sovereign debt situation.
0:35 This is a subtle bit of politics ahead of the G20, China is creating a currency sideshow compared to what is happening with the euro
1:30 They would have to revalue the yuan by 25 or 30% to have a significant debt on the trade balance with the U.S.
1:50 Job losses in the U.S. are not the result of manufacturing competition with China, but with the decline in the housing market, which is a long term problem
2:25 The next step in this crisis is the sovereign debt - fiscal crisis scenario, as balance sheets across the west are out of shape
3:20 The U.S. is so vulnerable because servicing costs and yields are so low right now; when things move slightly, it will be dramatic crisis for the U.S. because of how much debt it has
4:20 There is going to be a crisis in the U.S. within 2 years, best case scenario 4 years

Peter Schiff on the Yuan : CNBC Fast Money Spotlight 21 june 2010

If China let its currency float, it would be good for China and bad for the US, according to Peter Schiff, of Euro Pacific Capital. He explains his theory to CNBC.

Marc Faber: "I Buy Gold, I Don't Know What Else To Buy" on CNBC June 17, 2010

http://www.zerohedge.com/article/marc-faber-i-buy-gold-i-dont-know-what-else-buy
Marc Faber: "I Buy Gold, I Don't Know What Else To Buy"
Submitted by Tyler Durden on 06/17/2010 08:24 -0500

Another fantastic interview and some typically outspoken observations from everyone's favorite Doom and Gloomer:"I think that governments have become like a cancer, they have expanded in the financial system...The biggest problem is too much intervention. Whatever the government touches is usually done worse than in the private sector. I think any government intervention has unintended consequences and is negative. Eventually the market will break the intervention and things will blow out...People who tell me about the big deflation in Japan, why don't they spend a day in Tokyo? It's still the most expensive city in the world. At this level I'm not particularly interested in buying anything. I buy gold, I don't know what else to buy." Faber expects another worse crisis to happen in five to ten years, "when the whole financial system collapses" - the reason: the debt problem has been kicked down the road without actually being sold. "I think US Fed, ECB and other central banks have no other option, they will continue to monetize and buy bad paper, period. The central bankers are precisely the ones that don't know that excessive money creation and excessive debt creation leads to a crisis down the road. The ECB will talk hawkishly, but act dovish, like the Fed in the US." Must watch 20 minutes.


Part 1