Turning Hard Times Into Good Times

Prof. Robert Auerbach and commodities trader Jim Liles are our main guests. Auerbach says $1.5 trillion representing 57% of QE2, was pumped into banks that are being paid around $10 billion per year to hold as reserves. That's why, he says, the real economy has not been stimulated. And with cash flow to banks growing to $60 billion with a normalization of interest rates, there is no incentive for bankers to risk making loans. But that policy is no mystery as 2/3 of the Fed directors are elected by the banks. The Fed continues to reward bankers, rob average Americans and keep them in the dark by destroying documents that would otherwise become public. If 57% of QE2 is held by banks, most of the remaining 43% has been pumped into a commodities bubble. Where do commodity and precious metals prices go from here? We'll ask the very successful commodity trader, Jim Liles. We will also talk to the CEO of Smash Minerals, with highly prospective gold targets in the Yukon.