July 26, 2012
Welcome to Capital Account. Today is a special episode, because not only do we have commodities and resource expert Rick Rule on the show, but fan favorite Jim Rickards is guest co-hosting with our own Lauren Lyster!
In today’s news, European Central Bank President Mario Draghi said policymakers will do what is needed to save the Euro. This comment was enough to spur a bout of market euphoria. But how do you invest around what a policymaker may or may not say? How do you hedge against volatility created by governments, central banks, and their central planners? We will talk to Rick Rule, Founder of Sprott Global Resource Investments and a leader in natural resource investing.
Also, former Citigroup CEO Sanford Weill, who helped build the behemoth Citigroup is today, now advocates for breaking up the big banks. We talk to our guest co-host Jim Rickards, Senior Managing Director at Tangent Capital Partners, about the significance and motivation behind Sanford Weill’s statements.
Fidelity, Black Rock, and Vanguard, firms that collectively manage more than $7 trillion, are weighing legal action against the banks investigated for rigging Libor, according to Bloomberg. Could this mean more class action lawsuits are on the way?