I Am A Terrified Observer As I Watch The End Game Unfolding

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/4_I_Am_A_Terrified_Observer_As_I_Watch_The_End_Game_Unfolding.html

Eric King:  “How bad will this be when the West finally hits the wall?”

Rule:  “I don’t know, and I don’t know when it will come.  The US can renege on a whole bunch of social promises.  What scares me is that the dialogue isn’t even dealing with the harsh reality the US faces in the future if radical changes are not made immediately."

All I hear is from the US officials is, ‘We can’t taper, the economy is too weak,’ and, ‘We can’t shut down the government because government provides all of these essential services.’  But the coming austerity will be very unpleasant to go through, and people are going to eventually recognize QE for what it is, which is counterfeiting.

The problem with all of the promises the politicians have made is that they are all lies.  I have advocated that people own gold and silver because at the fulcrum point of this deception on the part of the government is the currency.  You can’t have unsecured obligations on top of unsecured obligations.  And the medium for exchange of lies is fiat currency.

The idea that the gradual unraveling of these lies will result in the depreciation of fiat currencies, and the dramatic revaluation of precious metals to the upside, seems to me to be an extremely likely outcome.  I am a terrified observer as I watch the end game drawing to a close.  But I will tell you that I feel more comfortable and sleep better owning gold and silver, rather than having all of my savings in fiat currencies, which are the unsecured obligations of bankrupt, or soon to be bankrupt borrowers."