James Turk continues:

“At some point in the future, whether it’s next year or the year after that, people who own paper gold are going to recognize they have counterparty risk.  They don’t own gold, they only own exposure to the gold price and that exposure is dependent on their counterparty.

And as a bust continues to develop, and we are still in the same bust that’s been going on for years, more counterparty risk is going to be seen as increasingly risky and people are going to move out of paper, into physical....

Continue reading the James Turk interview below...


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“So the final stage comes when prices keep going (higher for gold and silver) and that will happen eventually.  You can’t predict when, you just have to ride the trend. 

It is a scam trying to make people believe that paper gold is the same thing as physical gold.  At the end of the day, people in Asia understand from their culture that something they can hold in their hand is very different from some little piece of paper saying they own something.

So governments can try to stop the free market.  They can try to stop humans from acting the way humans want to act, but at the end of the day governments never learn from history.  People are going to continue accumulating gold and what will happen in India is what’s happened in the past.

When the government (of India) tries to stop the legal import of gold, by putting up barriers of one sort or another, the illegal activity starts.  The smuggling (of gold) from Dubai into India has been existing for decades and decades.  If the government starts to prevent the importing of gold, illegal smugglers will satisfy the demand of the Indian people.”

Eric King:  “So you are saying regardless of what the West tells India to do in terms of halting gold imports, the gold is going to flow into India and it’s going to have to flow out of Western central bank vaults?”

Turk:  “Absolutely.  And it’s not only flowing into India, Eric, but as we know China has become a big buyer as well.  Fortunately China is not trying to stop the inflow of gold.  They are encouraging it by loosening all of the previous capital controls that have been in place and making it more and more of a free market.

So it’s quite possible that in 2013 China could actually import more gold than India imports, particularly with inflationary pressures picking up in China again.”

This is the first in a series of interviews with James Turk that will be released today which reveals the increasingly desperate moves and propaganda we are now seeing emanate from Western central planners in an attempt to keep the gold and silver markets subdued.  The information above was just a small portion Turk’s extraordinary interview.  The KWN James Turk audio has now been released 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, Rick Rule, MEP Nigel Farage, Chris Powell, Bill Fleckenstein, Egon von Greyerz, John Hathaway and Ben Davies are available now.  Also, be sure to listen to the other recent KWN interviews which included Stephen Leeb, Eric Sprott, Gerald Celente, James Turk, and Wilbur Ross by CLICKING HERE.

Eric King

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© 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.

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