Today a legend in the business warned King World News that there are 10 countries that now are close to defaulting as the global debt crisis accelerates. He also spoke about the recent turbulence in China as well as what to expect from the gold market.
John Ing: “The plunge that we saw in Chinese stocks took place after about a 150 percent move in the Shanghai Index. There’s no question that it was a bubble, just as the U.S. dollar, bond and stock markets are bubbles. Any suggestion that this is going to negatively impact China’s infrastructure plans is ridiculous….