Today 50-year veteran Art Cashin warned King World News that “we are on the verge of a major currency war.” He also cautioned, “… central banks all around the world beginning to play with fire.” Cashin, who is Director of Floor Operations for UBS ($612 billion under management), also warned we are now in danger of the possibility of ground wars.
Here is what Cashin had to say: “Back in late October, the Israelis attacked a warehouse or control station in the Sudan. It was believed that Iran may have sent intermediate-range missiles there, hoping to get them shipped into Gaza. So we may now be facing that Hamas or one of its rivals (has these missiles), but whoever has these missiles may be getting set to use them or lose them if the Israelis are coming in.”
Art Cashin continues:
“They (the Israelis) have just mobilized another 75,000 men. If the Israelis are coming in, they (Hamas) will want to use those intermediate-range missiles. We just had two missiles fall just short of Jerusalem today. So it’s obvious the range is expanding.
But what I worry about most in that area is that Mr. Morsi (President) of Egypt does not have a full-blown or stable government. That could lead to precipitous or irrational moves. So far there have not been definitive signs of anything like troop movements in Egypt, but that is another fear that I think will lurk in the back of many minds going into the weekend.”
Art Cashin has been warning for some time now that this type of conflict was going to begin to take place. He has been escalating those warnings recently. When asked on a scale of 1 to 5 (five being the highest) where he rates the danger now in the Middle-East, Cashin responded, “Probably 3.5 headed to a 4.”
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