Jim Rickards: FedRes Will Taper in September or Never, and the Looming Monetary System Collapse!

[youtube=http://www.youtube.com/watch?v=hKmyjXjz7E4]

• Here’s what’s in your Prime Interest today:
  To taper or not to taper. That is the question being asked at the Federal Reserve.  Do we stop printing $85 billion per month, or not.  And guess what? Today, we learned that half the voting members want it to end — not even taper — by year end.  We talk with Jim Rickards about this and the big trouble in China. 
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  Also, there are 12 members of the Federal Open Market Committee who vote on monetary policy eight times per year.  The last meeting was on June 19th and it caused quite a stir.  That’s because we learned the committee was more bent on winding down QE — so-called tapering.  Well, the *minutes* of that meeting were released today, and they said half the members thought QE should *end* by year-end.  This is the most descent at these meetings we’ve seen in years.  Bob speaks with James Rickards, author of Currency Wars about mutiny at the Fed.
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  And, the first non-bank institutions to be named too-big-to-fail was announced today.  Actually, the term is systemically important financial institution. Guess who they are?  AIG and GE — who both required massive bailouts during the financial crisis.  Bob and RT Producer Rachel Kurzius duel over too big to fail companies.
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  Finally, Seems the new living wage law here in DC has Walmart threatening to “tear down their Wal”-mart — plans.  Perianne Boring breaks down Minimum Wage.

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