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Eric King:  “Rick, can you talk about where the West is really heading?”


Rule:  “I think your question is very interesting, particularly in the context of the public and international response to the so-called government shutdown.  First of all I would ask you, what shutdown?  Second I would ask you, why the furlough of 800,000 ‘non-essential workers’ is a bad thing?....


Continue reading the Rick Rule interview below...




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“The third thing I would ask is, why do we have 800,000 ‘non-essential workers?’  But I guess all of this points to something much more important:  The commentary inside and outside of the United States has to do with the threat of shutting off the near-term liquidity that is driving a financial bubble.


It would be more hopeful if people were talking about the debt ceiling, and the advisability of continuing to overspend.  I am not hearing anything in the mainstream media discussion about the real cause of the problem, which is simply that we are over-governed and we are spending too much.


It seems to me that nobody is speaking for the people, our children and grandchildren, who have to pay the debts.  What really bothers me about this, Eric, is that the whole discussion of both the alleged shutdown, the debate about this and the so-called debt ceiling doesn’t have anything to do with the problem, which is that we are spending substantially more money than we are generating.  This is the real cause of the problem, and the discussion is so disgustingly off base.”


Eric King:  “How bad will this be when the West finally hits the wall?”


Rule:  “I don’t know, and I don’t know when it will come.  The US can renege on a whole bunch of social promises.  What scares me is that the dialogue isn’t even dealing with the harsh reality the US faces in the future if radical changes are not made immediately.


All I hear is from the US officials is, ‘We can’t taper, the economy is too weak,’ and, ‘We can’t shut down the government because government provides all of these essential services.’  But the coming austerity will be very unpleasant to go through, and people are going to eventually recognize QE for what it is, which is counterfeiting.


The problem with all of the promises the politicians have made is that they are all lies.  I have advocated that people own gold and silver because at the fulcrum point of this deception on the part of the government is the currency.  You can’t have unsecured obligations on top of unsecured obligations.  And the medium for exchange of lies is fiat currency.


The idea that the gradual unraveling of these lies will result in the depreciation of fiat currencies, and the dramatic revaluation of precious metals to the upside, seems to me to be an extremely likely outcome.  I am a terrified observer as I watch the end game drawing to a close.  But I will tell you that I feel more comfortable and sleep better owning gold and silver, rather than having all of my savings in fiat currencies, which are the unsecured obligations of bankrupt, or soon to be bankrupt borrowers.”


IMPORTANT - Due to recent events, KWN will be releasing major interviews all day long on Friday.


© 2013 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 audio interviews with David Stockman, Robin Griffiths, Jim Grant, Gerald Celente, William Kaye, Dr. Paul Craig Roberts, Chris Powell, Michael Pento, Eric Sprott, Andrew Maguire, Grant Williams and Egon von Greyerz are available now. Also, other recent KWN interviews include Marc Faber and Felix Zulauf to listen CLICKING HERE.


Eric King

KingWorldNews.com

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