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Eric King: “You talked earlier about the fact that they tried to dematerialize gold back in 1969 with the SDR. Then in 1980 we saw the change of rules on the COMEX and the silver price collapsed. Going forward, these are the first steps you see (LBMA actions and attacking Indian gold demand) as a Ponzi scheme is unwinding. We should expect to see more radical things from the central planners?”
Turk: “Yes. That 1969 change has significance to today. It came just before the system blew up. The SDR was created in ’69 and the system blew up shortly thereafter (and gold went up roughly six-fold by the end of ‘73).
Now, whether we have to wait another 18 months or 18 days before gold starts a move where it’s going to triple in price, only time will tell. But again, it’s a sign that the system of suppressing the gold price is unraveling, and we’re getting very close.”
Eric King: “By 1971 we had abandoned the gold standard. So when say we are getting very close to the end of the system blowing up, what should we expect going forward? You’re saying within 24 months the system may very well blow up here?”
Turk: “Yes, but it could happen (even) sooner. My long-term view, Eric, has been that sometime between 2013 and 2015 we are going to see $8,000 on gold. This goes back to an interview I did in Barrons back in 2003....
Continue reading the James Turk interview below...
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“I haven’t changed my forecast over the years and I think everything is coming together. Look at all of the volatility we are seeing and the craziness we are seeing around the world. Europe is falling off a cliff. You’ve got people in Catalonia, the Barcelona region of Spain, voting for independence (from Spain).
Here in the UK you’ve got Scotland planning to vote for independence and separating out of the UK in the not-too-distant future. You’ve got unemployment rates rising. You’ve got Greece being saved again. How many times have the central planners promised us they have papered over the problem (in Greece)?
They (central planners) are running out of ammunition and they are running out of excuses for this system they are keeping together. Ultimately that is going to be reflected in a higher gold price. It (gold) is going to go up in the same way it went up in the 1970s when the US threw in the towel (on gold suppression) back then. Gold is going to go up by a much higher and rapid rate than any of us can envision.
At some point there is going to be a panic, but the panic is going to be by the people who are coming into the market late. I do agree that there is going to be a third stage to this market which will be the speculative blowoff. At some point in time gold and silver are going to be the opposite of where they are now. In other words they are going to become overvalued once again, just like they were in 1980.”
This is the third and final in a series of interviews with James Turk which reveal steps that are being taken to cover up the corruption and manipulation in the gold and silver markets. These steps which are being taken by Western central planners are a clear sign of desperation that their Ponzi scheme and price suppression scheme is getting closer to coming to an end.
The information above was just a small portion Turk’s extraordinary interview. KWN has now released Turk’s audio interview which discusses the desperate maneuvers which are going on behinds the scenes 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 James Turk, Egon von Greyerz, Michael Pento, Wilbur Ross, Don Coxe (BMO $538 billion) and Ben Davies are available now. Also, be sure to listen to other recent KWN interviews which included Art Cashin (UBS $612 billion), Nigel Farage, Bill Fleckenstein, and Rob Arnott (RALLC $100 billion) by CLICKING HERE.
Eric King
Turk - Current Financial System To Implode Within 24 Months
Today James Turk spoke with King World News about steps which are being taken by the LBMA and Western central planners to cover up the corruption and manipulation in the gold and silver markets. This is the third and final in a series of interviews with James Turk which reveals what is going on behind the scenes of the desperate Western central bank gold and silver price suppression scheme.
© 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.
November 28, 2012
