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Jim Rickards: No exit for the Fed
10:41a ET Friday, November 5, 2010
Dear Friend of GATA and Gold:
In an essay written exclusively for King World News, market analyst Jim Rickards of Omnis Inc. examines the megalomania undertaken by the Federal Reserve and speculates that the central bank now easily could go bankrupt, insofar as its nominal capital could be wiped out. Rickards' essay is titled "No Exit" and you can find it at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/11/5_Ji...
Or try this abbreviated link:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Prophecy to Become Coal Producer This Year
with 1.5 Billion Tonnes of Resource
Prophecy Resource Corp. (TSX.V: PCY) announced on May 11 that it has entered into a mine services agreement with Leighton Asia Ltd. to begin coal production this year. Production will begin with a 250,000-tonne starter pit as planned in August, with production advancing to 2 million tonnes per year in 2011. Prophecy is fully funded to production and its management team includes John Morganti, Arnold Armstrong, and Rob McEwen.
For Prophecy's complete press release about its production plans, please visit:
http://www.prophecyresource.com/news_2010_may11.php
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