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Eric King:  “Dr. Roberts, what is the biggest danger facing the world today?”


Dr. Roberts:  “The biggest danger is the drive in Washington for world hegemony because that brings up nuclear war....


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




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“I don’t think the Russians and Chinese are going to roll over for Washington and accept Washington’s hegemony.  So that’s the biggest danger.


The biggest financial danger is the collapse of the dollar as the world’s reserve currency.  This would bring about a far greater crisis than the collapse of 3 or 4 big banks.  So that’s what the Fed has got to figure out:  Can it save the banks without bringing the dollar down? 


If the world’s reserve currency collapses, the payments mechanism everywhere is disrupted, and the reserves of central banks evaporate.  The panic that would result, the domestic inflation in the United States that would result, this type of crisis dwarfs having JP Morgan, Citibank, and two or three others fail. 


Because when the banks fail, they just reorganize.  The deposits in the banks are very small compared to the bailout of the banks.  And so the Fed would simply have to ask, ‘Can we stand the collapse of the dollar?  This crisis is far bigger than failing to save the banks.’


Now since the Fed is really run more by the banks than by the public policy interests, we can’t assume the Fed would make the right decision.  But that is the choice it would face.  And I think it may face that choice before the year is out.  So that is the big financial danger:  What does the Fed do?  Save the dollar, or save the banks.  It can’t do both.”


IMPORTANT - KWN will be releasing interviews all day today and this weekend with former US Treasury official Dr. Paul Craig Roberts, Egon von Greyerz, Andrew Maguire, John Ing and many others. 


UPDATE: Dr. Roberts’ remarkable audio interview is available now and you can listen to it by CLICKING HERE.


© 2014 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 This material may not be published, broadcast, rewritten, or redistributed.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 Dr. Paul Craig Roberts, MEP Nigel Farage, James Dines, Gerald Celente, Michael Pento, Eric Sprott, Andrew Maguire, Rob Arnott, William Kaye, David Stockman, John Mauldin, Art Cashin and Dr. Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf -- to listen CLICK HERE.


Eric King

KingWorldNews.com

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