Today David Stockman, the man President Ronald Reagan called upon along with Dr. Paul Craig Roberts to help save the United States from disaster in 1981, warned King World News that, yes, Western governments do plan to steal money from their citizens as the financial system implodes. Stockman also spoke about what is really happening with the global economy and why efforts to deceive the public have finally reached the limit.
Eric King: “David, we’re going to take a trip down the rabbit hole of something that’s quite terrifying for people. You’ve read the interviews from King World News with James Turk. He spoke about the ECB and bankrupt Western governments stealing people’s money right out of the banks. This has already unfolded in Cyprus. We’re now going to see this play out in Greece. This is going to become much more frightening for people going forward as they watch this unfold. What are your thoughts as you see this developing, David?”
David Stockman: “I think this is huge and it’s much bigger than Greece. Greece is only a case in point — the flashpoint of the hour. The truth is that on a global basis the jig is up….
Continue reading the David Stockman interview below…
“There is theft going on as a result of massive money printing and central bank financial repression all over the world. Savers in the United States have been making exactly zero, after inflation and tax, maybe even negative, for 80-months now, since QE and ZIRP incepted in December of 2008. I would say that’s theft.
Central Banks Steal Money And Give It To The Banks
That amounts to a massive transfer of somewhere around $200 – $300 billion a year, from savers and depositors — many of them retirees who were counting on a lifetime worth of savings to tide them through their retirement years — to the banking system in a fraudulent and disgraceful effort to reflate the banking system and rescue the banks on the backs of savers. That’s fraud. That’s theft.
This is is now becoming a universal problem and it’s now grinding economies to a halt because without honest pricing in the financial system, without a fair bargain between savers and borrowers, the financial system can’t work. It will become unbalanced, unstable and dangerous.
Economies Of The World Grinding To A Halt
And economies without healthy financial markets and capital markets ultimately grind to a halt. That’s where we are heading as a result of this crazy doctrine of central bank money printing that has taken control of almost every economy of the world.
Ever since the 2008 financial crisis, central banks have been printing themselves silly. Governments have been kicking the can down the road on every kind of problem, from Greece, to the deficits that we have here, to the lack of productivity and investment in our economy, to the continued failure of the Japanese economy and on down the line.
Efforts To Deceive The Public Have Reached The Limit
So where we are in 2015 is that all of this false effort to try to disguise the desperate nature of the economic circumstances around the world has finally reached its limit.” David Stockman's remarkable audio interview has now been released and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW. The written interviews with Stockman only contain a small portion of what is in his extraordinary audio interview. This is one of Stockman's most important interviews ever as he discusses how Western governements are preparing to steal people's savings as well as what investors can do to protect themselves. Stockman also covers what to expect as we move into the final endgame of financial destruction that will be caused by reckless central bank policies.
***ALSO JUST RELEASED: Time Is Running Out As Western Governments Prepare To Steal People's Money And Assets CLICK HERE.
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The audio interviews with David Stockman, James Turk, Rick Rule, Dr. Paul Craig Roberts, Bill Fleckenstein, Dr. Philippa Malmgren, Egon von Greyerz, Eric Sprott, Robert Arnott, Gerald Celente, Michael Pento, Marc Faber, Felix Zulauf, Andrew Maguire, John Mauldin, John Embry and Rick Santelli are available now. Other recent KWN interviews include Jim Grant — to listen CLICK HERE.