Mike Maloney on the Fed's Gold Trap and the End of the Dollar

Here's what's in your Prime Interest today:
The London Whale has escaped the prosecutorial net! Bruno Iksil-- the JP Morgan Chase trader who earned himself the nickname after a six billion dollar trading loss last year-- is off the fishing hook, so to speak. He reached an agreement with US authorities yesterday. So, it looks like the mainstream media successfully floated his freedom. But now it seems federal authorities have other fish to fry. Today they moved up the food chain, charging Iskil's former boss with wire fraud and a conspiracy to falsify records. The decision not to go after Mr. Iksill may prove important to the case, as it is likely he will be used as a witness for the prosecution. Let's see how far they can swim upstream.

And don't break out your taper hats just yet. A sequester squabble could put a damper on the Fed's plan to wind down QE. According to economists at Bank of America and Barclays, the risk of a government shutdown this October may delay any tapering moves, especially if Fed officials are on the fence. And if you are in Jim Rickard's camp, who believes the Fed will taper in September or never, then QEternity may just become a QReality. Bob talks about the unprecedented expansion in base money with Mike Maloney, founder of GoldSilver.com and creator of the Hidden Secrets of Money.

Plus, billionaire activist investor Carl Ichan is at it again. This time he is snapping up Apples, rather than nutrition supplements. He has taken a large position in the tech company and is pressing for a greater return of cash to shareholders. Ichan's plan is for 150 billion in Apple stock buybacks. However, most of the company's cash is held overseas-- remember that little issue? Looks like Apple's Irish tax scheme might not be so tasty to the dietary supplement King. Perianne profiles the mega-Ichan.

Finally Bob talks to RT Correspondent Meghan Lopez about a recent drone conference -- where no one was actually allowed to say the word "drone."