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Eric King:  “Victor, I found it fascinating that the U.S. dollar was on the ropes and appeared to be in serious trouble at the recent lows.  Quite frankly it looked to me like intervention took place in the currency markets -- your thoughts on the U.S. dollar.”


Sperandeo:  “Well, a man who you’ve interviewed and that I respect is Dr. Paul Craig Roberts.  He wrote a fascinating piece recently.  If the dollar really starts to fall, Eric, that is going to have a great many repercussions.  But what the Fed evidently did is they bought dollars through the Belgium Central Bank....


Continue reading the Victor Sperandeo interview below...




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“The Belgian holdings of U.S. Treasuries went up a stunning $140 billion.  So even though the Fed is tapering, they are buying securities through foreign central banks.  The implication by Dr. Roberts is that the Fed puts up the money for these transactions, but most importantly the Fed is not disclosing what they are doing.


This sounds like a conspiracy but it makes a lot of sense that the Fed has to support the dollar.  How does the Fed accomplish this?  They effectively do swap lines with a central bank that is not in the limelight.  How many people even know where Belgium is on a map? (Laughter ensues).  So Dr. Roberts makes a great case that the U.S. security holdings went up, and it’s shown on the Fed balance sheet if you analyze it bank by bank. 


Well, in my view when the dollar got down to the lows I believed it was going to rally.  I believed the dollar was going to rally because of the European Union’s votes that are coming up from the 22nd through the 25th.  Right now France has a 19% unemployment rate, and Hollande has an approval rating of only 18%.  He made the most Captain Obvious comment of the year when he said, ‘Well, if this continues, I won’t run for reelection.’  (Laughter ensues once again).


There is also a group in the Netherlands that is gaining a lot of momentum.  The reality is that Europe is suffering greatly because of the overreach and control of Brussels.  One of the individuals in the Netherlands calls it ‘The Monster in Brussels.’  He is talking about what is essentially the troika in Brussels.


So the reason I felt the dollar would rally is because most of the people being elected are conservatives.  They are for stopping immigration, and they are also for leaving the European Union.  So, in my view the dollar also rallied for that reason.  But having said that, I do support the view by Dr. Paul Craig Roberts that the Fed is actually supporting the dollar through foreign central banks.  The fact is that the Fed does this on occasion.”


Eric King:  “What about the action in the stock markets?”


Sperandeo:  “The near term breakout to the upside was done on very little volume.  So it isn’t a real breakout.  The ECB has announced ahead of time that at their next meeting they are going to put together a variety of stimulus packages, and they are going to create a negative interest rate environment.  This means people will have to pay the banks to keep money there.


Well, anybody who is sane will take their money out of the banks.  Large holders of cash will never stand for being charged so the banks can utilize their money.  This is going to cause disruption and it will not work, but the markets went up on that news.


With what I just told you about France’s dire economic situation, believe it or not their stock market is just like the S&P 500 -- it’s virtually at highs.  So you can see that the underlying reason for the global stock markets advancing is simply because of the excessive money creation.


Now the mainstream media is saying that central banks have proven they can print money and still control the rate of inflation, so they should print more money to help the poor.  Can you believe that?  Printing money damages the poor.  But now we are going to print more money and the Fed will buy more bonds at zero interest rates and supposedly give the money to the poor.  This is setting up the last Great Convulsion which has been in the works since the creation of the Fed in 1913.”


Sperandeo added this regarding gold:  “Right now gold is bottom-bouncing and making lows.  This is the place for KWN readers around the world to accumulate gold if they don’t have enough.  In full disclosure, I own huge amounts of gold.  Gold is for an investment in your future.  I buy it and other people should buy it as a hedge against the coming financial destruction.”


IMPORTANT - KWN had 3 fantastic interviews with Eric Sprott, Art Cashin and Andrew Maguire this weekend and you can listen to them by CLICKING HERE.  Also, KWN has many more interviews being released today.


© 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 Andrew Maguire, Eric Sprott, Art Cashin, Rick Rule, Dr. Paul Craig Roberts, Gerald Celente, Felix Zulauf, Michael Pento, James Turk, Victor Sperandeo, Dr. Philipa Malmgren and Egon von Greyerz are available now. Other recent KWN interviews include Dr. Marc Faber and Jim Grant -- to listen CLICK HERE.


Eric King

KingWorldNews.com

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