Sunday, September 22, 2013

This Week Was A Disaster And It Will Lead To More Tyranny

"...Eric King:  “Keith Barron also said to KWN this week that all of this (chaos) was part of a much larger move to a new financial system.  Is that how you see it, Chris?”
Powell:  “I’m inclined to agree with Keith.  I have always suspected that what is underway here is a redistribution of world gold supply, from the West to the East, to compensate the Eastern nations for their dollar surpluses which are not going to hold their value as gold does. 
I think that is probably the secret bargain here -- that China and the other dollar-surplus countries will agree not to pull the plug on the dollar and US government bonds and Western debt generally, as long as they have access to discounted gold.

Everything has been rigged in market terms.  5 years ago in a speech in Washington I said, ‘There are no markets anymore, just interventions.’  Increasingly in academic and journalistic circles this is being called ‘financial repression.’  I suspect and fear that the Fed’s defeat on tapering this week means that we are going to see even more repression..."
 

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