Art Cashin Warns Of Terrifying Black Swan & The Banking Crisis

Saturday, July 26, 2014
By Paul Martin
July 25, 2014

Today 50-year veteran Art Cashin, who is Director of Floor Operations at UBS ($650 billion under management), warned King World News about a terrifying black swan, at least from the U.S. perspective, and also warned that the European banking crisis will see many more banks in dire trouble before the crisis ends. He also discussed his biggest worries going forward. Below is what Cashin had to say in this powerful interview.

Eric King: “Art, is there an alliance forming between Germany, Russia, and China?”

Cashin: “I don’t think a full, specific alliance. But I think what you are seeing is Russia demonstrating to the West that they can find customers elsewhere, and they are utilizing China. The most interesting conversation in that area is that all of the BRIC nations are looking to find an alternative for the U.S. dollar as a reserve currency. That could be a black swan that not many people are thinking about.

And the Germans would not be disappointed in that either. So I think you want to keep an eye on what’s going on here and see if under the cover of some of these geopolitical strains we find that there is going to be a currency problem building that could be global.”

The Rest…HERE

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