Tuesday, July 17, 2012

Jim Rickards: Geithner “Aided and Abetted” LIBOR Crimes

The LIBOR scandal is "so big I don't think people have got their minds around it. This is the largest financial scandal I've seen in my career."

"Without nominal GDP growth you're never going to pay off the debt," Rickards says, suggesting the Fed would be willing to tolerate -- and even encourage -- higher inflation in order to give nominal GDP a boost. "The Fed in effect [will be] throwing in the towel on inflation."

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