Turk – 2012 to See Much Deeper Banking & Currency Collapse

In this article James Turk discusses two warning signs the financial system is in deep trouble.  James also discusses gold, silver and the currency bubble. 

The real bubble is in global fiat currencies backed by nothing.  People still believe this paper is something of actual value.  When that belief is gone you have hyper inflation and currency collapse.  

Not to say we have hyper inflation tomorrow but we are going to see currencies collapse all over the world including the Almighty Dollar before this is over.   You must pay attention, there many signs.   Here are Turks signs, there are many others.

1. US losses AAA rating- Remember this event and how the media blew off this story like it’s no big deal.  There are consequences to this event.

Quote from Turk: “There are all of these warning signs out there and few people are paying attention.  For example, hardly anyone cares that the US has lost its AAA rating and most dismiss it as a non-event.  But even a cursory look at the US government’s financial position should raise investors concerns that it will not be able to meet all of its obligations.”

2. MF Global – We covered MF Global and the effects this will continue to have. One of the biggest was the loss of trust in the system.

Quote from Turk: Another example is MF Global.  “Can people really believe the regulators and MF Global management don’t really know what happened to the missing $1.2 billion?  I see all of these things as serious warnings, Eric, confirming two things.  First is the obvious one, that the financial system is in disarray and things are not functioning as they normally should be.  The second point relates to the psychology of the market.  When there is a bubble in the markets, people are either not paying attention or accept as conventional wisdom premises that do not stand up to logic or any kind of rationale analysis.”

Full Article Here