Today a legend who was recently asked by the Chinese government to give a speech to a large number of government officials in China warned King World News that the West is now desperately maneuvering ahead of major global turoil.  John Ing, who has been in the business for 43 years, also warned about chaos, disarray and outright war.

Eric King:  “Eric Sprott told KWN today that things are already blowing up in the derivatives market but it is being hidden from the public.”

John Ing:  “There is no question that there are other shoes to drop.  The banking sector is heavily exposed through derivatives to so many volatile markets….

Continue reading the John Ing interview below…


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“Banks also have huge exposure through derivatives and direct loans to the oil sector and we already know the price of oil has recently collapsed.  

Oil companies and the loans to these companies are already under water and we don’t know what type of chaos is going on underneath the surface in the opaque derivatives arena.

Chaos, Disarray And Outright War

I would also add that it’s no longer just a currency war — instead it’s outright war.  The central banks have exhausted all of their tools, including quantitative easing.  This is why depreciating the currencies is the last move.

Meanwhile, the troika has drawn a red line with the Greeks and Greece has already crossed it.  Now the question is:  What happens?  Well, if Greece walks it challenges the entire structure of the European Union.  This would mean complete chaos and disarray.  

A Greek default would send shockwaves through Europe’s already beleaguered banking system.  And this is at a time when we already have bank runs going on in Greece.  What happens if this erupts in the rest of the European banking system?

There Is No Refuge

There is no refuge, including the U.S. dollar.  Eric, this is why we have continued central bank buying of gold, led by the Russians.  My sense is that the available physical gold has already been absorbed by the East.  Because available supplies have largely been exhausted, the only available gold in the future will have to come from mining companies.

We just saw two acquisitions, one of them by GoldCorp, for $120+ dollars an ounce because the only available gold supply in the future is going to come from the mining companies.  On one of these acquisitions the company didn’t even have a feasibility study available.  This tells me that the industry is desperately in a quest for ounces in the ground and that’s why they are paying these prices.

So Many Worries

The pullback in gold we are seeing right now is not surprising, especially considering gold surged nearly $200 off the lows.  As I said earlier, available physical supplies have largely been exhausted, so what we seeing today is just paper manipulation in the Comex market.  There are so many worries about Greece, Ukaine and other hot spots that this will continue to boost the gold price more and more as the year wears on. 

So this pullback we are seeing in the gold market will be short-lived and I view it as noise.  There is simply too much demand and not enough supply.  As the next crisis hits, these low prices for gold and silver will be a distant memory.” KWN will immediately be releasing more interviews today with Eric Sprott and others. ***ALSO JUST RELEASED: Billionaire Eric Sprott Just Made One Of The Most Dire Predictions Of 2015 CLICK HERE.

If you are interested in purchasing physical gold and silver for delivery you can call Steve Quayle or his staff at (406)586-4842, or you can email them at [email protected]

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The audio interviews with Eric Sprott, Felix Zulauf, Andrew Maguire, John Mauldin, Egon von Greyerz, Dr. Paul Craig Roberts, Gerald Celente, Lord Christopher Monckton, Michael Pento, Bill Fleckenstein, David Stockman, Dr. Philippa Malmgren, Stephen Leeb, John Embry, Rick Rule, Rick Santell and Marc Faber are available now. Other recent KWN interviews include Jim Grant — to listen CLICK HERE.

Eric King
KingWorldNews.com

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