Eric King:  “Now that central planners have made it known they will steal bank deposits when countries are in trouble, does that help relieve QE going forward to some extent?  Or is this just another lie they are trying to sell to people right now?”

Dr. Roberts:  “It doesn’t relieve it, but it’s an alternative when they can’t do QE.  When the dollar starts declining or collapses, and they keep printing it will drive it down even faster.  So when the dollar really starts plunging they have to give up QE.

You can’t print money in the face of a falling currency.  You will just make the panic worse....

Continue reading the Dr. Paul Craig Roberts interview below...


UPDATE: To hear legendary Jim Sinclair discuss exciting new developments

from the company he believes is the best investment click on the logo:

“So the fallback position when they can’t print money is to grab bank deposits.  And not just bank deposits but also pensions.  They will grab both.”

Eric King:  “The desperate actions we are seeing on the part of governments and central planners right now, what does that tell you about how close we are to the end game?”

Dr. Roberts:  “The whole point is if the bond market collapses, interest rates explode.  When interest rates explode, stocks collapse.  That has always been the tradition.  So I think they (the Fed and central planners) are facing a wipeout, and they are doing what they can to prolong this. 

That is where they are, they are running out of time and means.  I think they feel they are close to the end game.  They are trying to stave it off.  Look, if you can pass the sinking ship to the next watch, if Bernanke can get out of there before it happens, that’s what they will do.

And we don’t know what the Fed is telling the Congress.  They may be telling them it’s better to get rid of social security in order to save the budget.  I mean you don’t know what they are saying.  But in the meantime they don’t want the dollar to go before they can achieve a deal.  If people get hopeful, sometimes they get unrealistic (laughter ensues).”

Eric King:  “If a friend comes to you and he has millions or tens of millions of dollars in the bank, and he asks you, ‘What do I do here Dr. Roberts?’  What do you say to a guy like that?”

Dr. Roberts:  “I would say if he’s got millions or tens of millions, he’s probably got the capability of getting it out of the country.  Move it to Hong Kong.  Find some investment firm in Hong Kong.

There are some strong, smaller or regional type banks in Hong Kong that have no derivatives.  You could just deposit the money there.  You are then stuck with all of the reporting requirements, but at least your currency and wealth is out of the country.

Right now of course the Hong Kong dollar is pegged to the US dollar, but I think when the dollar starts sliding they will quickly remove that peg.  The Chinese will make them do that.  So there are alternatives, and if you are not too scared about what they are doing to gold and silver, it’s cheap now compared to where it was.”

**IMPORTANT - Part I of Dr. Paul Craig Roberts extraordinary KWN written interview has already been released.

***IMPORTANT - Jim Sinclair is holding a meeting in Toronto on Friday, April 12th at 1 PM EST.  For details and to sign up to attend this event CLICK HERE.

The audio interviews with Gerald Celente, Stephen Leeb, John Maudin, Egon von Greyerz, Rick Rule, Bill Fleckenstein, Paul Craig Roberts, Michael Pento, Nigel Farage and Eric Sprott are available now.  Also, be sure to hear the other recent KWN interviews which include Marc Faber, Felix Zulauf and Art Cashin 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.

Eric King

To return to BLOG click 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.

Subscribe to RSS
KWN Blog