Today David Stockman warned King World News that the global monetary breakdown is going to intensify and this will lead to a skyrocketing gold price. KWN takes Stockman’s warnings very seriously because he is the man former President Reagan called on in 1981, during that crisis, to become Director of the Office of Management and Budget and help save the United States from collapse. Below is what Stockman, author of the website contracorner, had to say in his powerful interview.
Eric King: “David, you’re thoughts on the gold market as there is all of this massive money printing all over the world. It really is unprecedented.”
Stockman: “Yes. It’s leading to a breakdown of the monetary system, not to the classic hyperinflation which causes a flight to gold in the initial instance….
Continue reading the David Stockman interview below…
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“However, as it becomes clear that the central banks have lost control, that there is an out-and-out currency war underway, that the global economy is cooling rapidly — that’s the only way you can explain oil at $75 a barrel — once that becomes clear, I think there is going to be a great shock to confidence in the central banks.
People are going to realize this has been a giant con game, not simply since the bottom in March 2009, but for several decades, and now it’s coming to an end. And as even Alan Greenspan had to admit the other day when he appeared before the Council on Foreign Relations, there is another currency out there that is not controlled by the central banks and is not printed at this kind of lunatic rate by the central banks — it’s called gold.
It (gold) will be rediscovered, and when it’s rediscovered as the monetary breakdown gathers force and intensity, the price of gold is going to head upward at a pretty rapid rate.” This was just a small portion of what David Stockman had to say in his one of his most extraordinary audio interviews ever. The audio with Stockman will be available later today and you can listen to it by CLICKING HERE.
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The audio interviews with William Kaye, Dr. Paul Craig Roberts, Andrew Maguire, Eric Sprott, Bill Fleckenstein, Rick Santelli, Rick Rule, Andrew Huszar, John Mauldin, Egon von Greyerz, Michael Belkin, and Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf — to listen CLICK HERE.