Art Cashin: This Is The Great Danger Facing The World Today!
- Art Cashin – This Is The Great Danger Facing The World Today!
Today 50-year veteran Art Cashin, who is Director of Floor Operations at UBS ($650 billion under management), spoke with King World News about one of the greatest dangers facing the world today and warned, “They thought they were going to solve a desperate problem by desperate measures. I don’t believe it’s having the effect they wanted, and it’s building up a very, very dangerous situation.”
Eric King: “It is historic watching the central banks involved in this inflation/deflation war, as they pump all of this money, but we seem to just be running in circles and not getting anywhere.”
Cashin: “We certainly are running in circles and that’s why I say I think they are in a quandary. Think of something that’s certainly unheard of in the last 50 years and that is the central bank saying they want inflation to get above 2%. Telling the public that they want to depreciate the buying power of the currency that you are paid your wages in, and there is no political uproar about it. It is absolutely stunning.