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overtheedge
Membre depuis mai 2012
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Embry expects overnight transformation of monetary system with gold revalued - Chris Powell - GATA

"If they taper we will move into a debt deflation that will make the 1930s look like a picnic.” "

This is the deflation the banks fear. It isn't the money supply. It isn't commodity or retail prices dropping. It is the decline in taking on more debt that has them trembling.

Their income stream drops, the tax revenue stream vaporizes and the banks go broke while they are flush with digital money. This is gonna make covering derivatives a lot more difficult. Digital money is not real. TPTB and the TBTF bankers know it and when the collapse happens, nobody will accept this funny money.

That being said, the blame does not belong solely on the shoulders of the bankers. None of this could have happened without the long-term efforts of the politicians. They voted for it. They endorsed it and they defended it by forcing fiat money on an unsuspecting public.

The big question is, "Will the government be so damn foolish as to attempt the confiscation of gold?" This ain't 1933 and the public is damn unhappy already.
I doubt that the US government would, but other countries? But I do see the nationalization of pension plans just before the massive devaluation.

You were told this was coming for several decades. No excuses. Just to make sure you understand, the devaluation will happen literally overnight. The chaos will last a few months. And American exceptionalism will be no more and never again. Tis the twilight of the gods. Yes, our mutual enemy is us.

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Début de l'article :Interviewed today by King World News, Sprott Asset Management's John Embry says he has begun to expect an overnight transformation of the world monetary system and, with it, an overnight revaluation of gold. Embry also remarks at length about the false propaganda emanating from most major governments about their economies and policies. The interview is excerpted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/25_Gl... Lire la suite

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