Eric King:  “The comments from former US Treasury Official Dr. Paul Craig Roberts, what he had to say in a series of interviews this weekend on KWN, I wondered what your thoughts were as you read those?”

Sinclair:  “I enjoyed those very much because there is no question that this man is an expert on how things work at the Treasury.  And we know nothing changes very much in the way a department is operated.

He has the stage to stand upon, the qualifications to comment, the knowledge, without any doubt, of exactly how that department works, and that’s what he outlined to us in those first two written interviews this weekend.”

Eric King:  “He spoke about the banks moving to enslave humanity, and he said the Cypriots had to do whatever it took to put a stop to this.”

Sinclair:  “He sees the fact that this is a confiscation.  He knows that the entire living system of the financial world is based on bank deposits....

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“He understands that there is no right to confiscate from a depositor.  He understands that a depositor is not a lender to a bank.

He lived in a time when a fiduciary actually existed, that’s somebody who undertook, as a matter of honor and law, that the deposits would be protected to the best of that institutions’ ability.  This is something that is completely erased if in fact even .00001% is taken from the depositors as an act of confiscation, in order to save the institutions which basically have screwed the world and the depositors.”

Eric King:  “Dr. Paul Craig Roberts also stated, ‘So I’m all in favor of the Cypriots to take to the streets, and to whatever level of violence they need to take it to.  Democracy is a human achievement.  It took centuries.  So why should we just let it go because there is a banking crisis?’  I guess I was a bit shocked by that statement.”

Sinclair:  “Well, it may be shocking, but it certainly is a fact.  When governments don’t represent the will of the people, law is in the streets.  What do you think happened in Egypt?  What do you think that the basic ‘Arab Spring’ was all about?

What do you think will happen if the present Administration decides that Texas can’t have their guns anymore?  Law is moving where it doesn’t represent the people, into the streets, and away from the legislator.   These are defining moments.  This is social, this is political, and certainly this is economic, and this is by no means a move too small to consider in our world conditions, Cyprus.

What I think people are reading on the wire services is, ‘I don’t know, and therefore I speculate.’  At this point the Russians have certainly flexed muscle, and clearly won the first major battle against the West, but haven’t yet won the war.

The Russian interests will win if nobody touches their deposits.  The Russian interests will lose if deposits over 100,000 euros are taxed significantly with no exception.  So, really, the face down is still in process.

There is nothing else to agree to except the confiscation amount, to agree if depositors are in fact lenders to a bank which you can legitimately attack.  Confiscation of the Russian money, my money, your money, is just plain theft.  Call it whatever you want to call it.  But decisions made in Cyprus now will set a course that will take us to the chaos of 2015 to 2017, and to a restructuring of the monetary system in 2020.” 

Sinclair added this regarding gold:  “It’s obvious that the intention of the paper market for gold is to collapse the price under $1,600.  The buyer of this market has been the physical buyer.  The transition we are going through is, who is the arbiter of price, paper or physical?

The worst thing that could happen to the paper shorts is that, yes, they do get it through $1,600 (on the downside), but barely.  Gold may trade to $1,575 to $1,580 in that event, but gold will immediately come back through $1,600 and all the way through the $1,800 level.  This action would be the beginning of the end of the paper market controlling the price of gold.”

***IMPORTANT - There was a delay due to circumstances outside of KWN in the release of the brand new & extraordinary audio interview with former US Treasury Official Dr. Paul Craig Roberts regarding the ongoing crisis in Cyprus and much more, but it is available now and you can listen to it by CLICKING HERE. 

© 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 interviews with Dr. Paul Craig Roberts, Gerald Celente, Michael Pento, Nigel Farage, Eric Sprott, Egon von Greyerz, Rob Arnott, James Turk, Jim Sinclair, and Andrew Maguire are available now.  Also, be sure to listen to the other recent KWN interviews which included Marc Faber, Felix Zulauf and Art Cashin by CLICKING HERE.

Eric King

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© 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.

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