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Eric King:  “Let’s talk about the U.S. dollar.  I know you have a lead Roman coin.  Can you compare what happened in Rome with what the U.S. is doing with its currency and how we are in trouble just like the Romans?

Dr. Roberts:  “Well, the Roman empire, of course, was a hegemonic power -- the ruler of the known world, or most of it.  It was not only always fighting abroad ... but they had a large number of civil wars.  So the cost of fighting themselves and maintaining their armies against outside forces essentially bankrupted the empire.

And the way they continued to finance the empire is the way the United States is continuing (to do), they printed money....

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


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“Now, in those days there wasn’t paper money, so the way you printed money was you took the coinage, which was gold, silver and copper, and the backbone of the Roman coinage was the silver denarius and that was used to pay the legions.  It was the main currency within the empire, the silver denarius.

So what they began doing was debasing the silver denarius.  They added a bit of lead so that the silver went further and paid more bills.  And then they would add more lead and more lead.  I believe my coin is from the 3rd century A.D., but it’s almost entirely lead.  In fact, it really is.  It’s entirely lead.  It might have 1 percent silver in it.  So the silver disappeared from the coinage and it became lead which has no intrinsic value, and inflation exploded from the overproduction of the denarius. 

Well, that’s what the United States is doing with quantitative easing.  The Federal Reserve is printing enormous amounts of money.  Despite tapering, the enormous amounts of money are still forthcoming. ... So it’s very difficult to see a happy or successful future for the United States.”

Eric King:  “As you know, when their coinage was debased, it eventually destroyed the empire.  Is that the same thing you see happening with the United States?”

Dr. Roberts:  “Yes.  The way they (the Romans) expanded their money supply was to augment (laughter ensues) the supply of silver with the supply of lead.  And that’s what the Federal Reserve is doing with the tremendous amount of money that it has created in the last few years.

... By printing so much money, it has created bond and stock market bubbles.  It has enormous debts that require practically zero interest rates in order to be financed.  In other words, the Fed has to buy the debt, which continues to monetize it and increase the supply of money.

And so getting out of this predicament is really beyond the skills or the intelligence of the power in Washington.  So we are on a downhill course and it could move faster at any time.”

IMPORTANT - The piece above is just a small portion of Dr. Roberts’ remarkable audio interview.  This is truly one of PCR’s most important interviews.  It is available now and you can listen to it by CLICKING HERE.

UPDATE - Part II of Dr. Roberts written interview will be released within hours and 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 Dr. Paul Craig Roberts, Gerald Celente, Felix Zulauf, Michael Pento, James Turk, Victor Sperandeo, Dr. Philipa Malmgren, Grant Williams, Dr. Marc Faber, Egon von Greyerz, Ben Davies and Art Cashin are available now. Other recent KWN interviews include Eric Sprott and Jim Grant -- to listen CLICK HERE.

Eric King

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