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Don Coxe continues:


“You say, ‘Well why aren’t they buying gold?’  What they are doing, first of all, is getting their portfolios in line, and they are going to cash first.  They realize that the so-called fiscal cliff is simply the first face of reality for the administration.  But they are not going to come up with anything for it that gets the deficit down below 3/4 of a trillion dollars per year.


Nobody is suggesting that.  They are saying they can’t afford to do that....


Continue reading the Don Coxe interview below...




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“They’ve got to move slowly.  Whereas you and I both know that somebody who has a serious condition, if he’s a dipsomaniac and is ruining his liver, he’s got to go cold turkey. 


We’re doing that on a grand scale with the finances of the country.  We can’t go to a balanced budget overnight because that would produce a deep depression.  The zero interest rates have encouraged governments to issue vast amounts of debt because it doesn’t show up in immediate interest costs.


They are saying, ‘We can afford it.  Look, it’s almost free money.’  So we have a situation where the politics are preventing the public from understanding the risk that is being imploded, through us, right in through the whole system because we’re stuck with having a government that is not at all disciplined.


The idea of applying real discipline to it, we can’t afford to do it because now the system is too shaky.  So eventually people are going to realize they are going to have to have assets which are not subject to devaluation by governments.  That’s one of the reasons for about 10,000 years why people have tended to go to gold whenever they didn’t really trust their governments too much.”


The information above was just a small portion Don Coxe’s extraordinary interview.  Coxe covers the existing dangers that derivatives pose to the financial system, the gold market and much more.  The interview with Don Coxe is available now and you can listen to it by CLICKING HERE.


© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


The interviews with Don Coxe (BMO $538 billion), Ben Davies, Art Cashin (UBS $612 billion), Nigel Farage, Bill Fleckenstein and Rob Arnott (RALLC $100 billion) are available now.  Also, be sure to listen to other recent KWN interviews which included Gerald Celente, John Hathaway, John Embry and Stephen Leeb by CLICKING HERE.


Eric King

KingWorldNews.com

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