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Eric King:  “The Fed and the massive trading room where they are managing these markets, are they going to eventually get overrun and it’s going to be a horror show even in that trading room, where there’s nothing left they can do, no levers to pull as everything comes unwound?”


Stockman:  “That trading room is a weapon of financial mass destruction.  That’s the point that people need to understand.  The people running the Fed today have no clue of the danger that they are creating through this massive market intervention and manipulation....


Continue reading the David Stockman interview below...  




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“The whole market is not trading on any kind of fundamentals.  It’s trading entirely on the word clouds being emitted by the Fed speakers and the cash which is being massively injected into the market each day.


They have totally disabled and corrupted the heart of our financial system.  They have turned everyone in the financial markets into Fed-followers and front-runners.  It is an extremely foolish and destructive policy, and yet it is now the mainstream view that all of this is for the good.  It’s a very crazy time when you really think about where this is leading.”


Eric King:  “David, where do you think this is leading?  You are warning about this massive trading room and the fact that these people are totally out of control.  They (the people at the Fed) don’t agree with you.  They don’t agree that it’s going to lead to destruction.”


Stockman:  “No, because obviously they are having a grand time.  They are at the switchboard.  They have anointed themselves, that is the Open Market Committee, the Fed and the senior staff around them, the ‘Monetary Politburo’ of the United States.  Read Yellen’s testimony and listen to the gravity of her tone.  She thinks she’s running everything -- that she has been given this heavy burden and responsibility for 317 million American citizens.  Give me a break.


This is institutional imperialism of staggering proportions.  Go back to Volcker:  Did he think this was the role of the Fed in 1981?  Or does he even think that today?  Go back to William McChesney Martin:  Did he think that he was running the ‘Monetary Politburo’ of the United States?  No.  All of this is just made up justification for the power that they have assumed.”


Stockman issued this warning about gold:  “The gold market could explode at any moment.  I’m not going to even venture a guess as to when that might happen, but clearly it is the asset of final resort when we reach the point where confidence in this whole Ponzi scheme that’s being run by the central banks finally breaks down.  It’s almost a sure thing that as we reach the end of this era of massive central bank expansion and domination that the monetary system will break down, the central banks will become totally discredited, and the markets will be in anarchy and dislocation and gold will soar.”


IMPORTANT - Part I of Stockman’s interview is only a small portion of what had to say in his extraordinary audio interview.  Part II of his written interview will be released within hours.  The KWN audio interview with David Stockman discussing financial instability and collapse, gold, the end game and much more is available now and you can listen to it by CLICKING HERE.   


IMPORTANT - KWN will be releasing extraordinary interviews all day today with David Stockman and others.


David A. Stockman: Former Dir. of the US Office of Management and Budget, Economic Policy Maker, Politician, Financier & Acclaimed Author of New York Times best-seller, “The Great Deformation: The Corruption of Capitalism in America. To order from Amazon CLICK 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 David Stockman, John Mauldin, Eric Sprott, Bill Fleckenstein, Egon von Greyerz, Dr. Paul Craig Roberts, MEP Nigel Farage, James Dines, Gerald Celente, Andrew Maguire, 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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