Jim Rickards talks Financial Warfare & Eric Schneiderman targets Barclays

New York Attorney General Eric Schneiderman accused Barclays of allegedly telling its customers that it would protect them from high frequency traders, while actually doing the exact opposite and accommodating them. Erin takes a look.

Then Erin brings you part two of her interview with economist and author Jim Rickards. They discuss reserve currencies, BRIC nations, and the IMF in the context of financial warfare. After the break, Erin brings you the best of week. Catherine Austin Fitts, Divya Narendra, Cullen Roche, Marshall Auerback, and Marc Chandler all weigh in.

- Source, Russia Today

Dollar Going to Collapse 80% or 90% or More

James Rickards, author of the new book, "The Death of Money," foresees big inflation because the U.S. dollar's buying power will shrink. Rickards predicts, "Imagine gas at $20 a gallon and bread at $10. That's what we're talking about." So, if big inflation is coming, what about gold? Rickards says, "When I say the price of gold is going to $7,000 or $9,000 per ounce, which I expect it will, what I am really saying is the dollar is going to collapse 80% or 90% or more." It did in the 1970's. None of this is unprecedented. It all happened before."

Rickards says, "When a collapse happens it will happen quickly. You won't see it coming. There won't be time to run out and buy gold, and it probably will not even be available at that stage. You need to prepare now."

- Source, USA Watchdog:

http://usawatchdog.com/fed-insolvent-dollar-will-collapse-90-or-more-james-rickards/

Central Banks Fear Deflation

"The problem is when central banks fear deflation more than anything, they try everything to defeat it, so, you know, currency wars, money printing, zero-interest-rate policy, forward guidance, twist. They do everything they can. When they can't win the battle against deflation, they devalue the currency against gold because gold is the only thing that can't fight back.
If deflation prevails � they'll wake up one day and say gold's $4,000 an ounce, we're a buyer at $3,995."

- Jim Rickards via a recent CNBC interview:

http://www.cnbc.com

Gold at $4,000 an Ounce?

"To me, what's going on is there's a transition from weak hands to strong hands," he said, adding that sellers have included "Comex traders who have margin calls and stops, hedge funds that have non-permanent capital" and gold exchange-traded fund GLD. "They're all wrung out now."