Gold & Silver Acceptance Growing as Distrust in US Increases
April 3, 2012
With gold, silver and oil on the move, today King World News interviewed Rick Rule, President of Sprott Asset Management USA. Rule told KWN that resource wars are heating up and an acquisition binge looks ready to take place, led by Asian countries. Rule discussed gold, silver, oil, natural gas & acquisitions, but first, here is what he had to say about the proposed BRIC Bank and increasing distrust of the US: “I believe the concept of a BRIC’s Bank is a good idea. The move to have more multi-lateral competition in the world is appropriate. The fact that it’s being backed by the World Bank is something the BRIC countries need to be worried about.”
Rick Rule continues:
“If you are going for backing from the institution you are trying to supplant, caution flags are raised. What I will be interested to see is how politicized the lending portfolio of the BRIC Bank will be. Certainly it couldn’t be worse for the world economy than the World Bank has been over time.
This whole situation is indicative of the fact that societies are increasingly distrustful of the United States and to a lesser degree, the West’s control of the world economy. This also points to the fact that there are arrangements taking place that will eventually deny the US of seigniorage….