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The West Is In Bad Shape, Particularly The United States

Saturday, February 14, 2015 5:20

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YOU ARE BEING LIED TO! THE WEST IS IN BAD SHAPE, PARTICULARLY THE UNITED STATES (OF AMERICA USA PRIVATE CORPORATION PRETEND ‘GOVERNMENT’)

GOLD, KWN King World News

As the great propaganda machine that is the Western mainstream media continues to tell the public there is a tremendous economic recovery, it turns out the West is in bad shape, particularly the United States.

Below a 50-year veteran sets the record straight and also issues a major warning for the people of the United States.

John Embry: “I think the drop in oil is getting overdone on the downside, but it’s going to create major problems in the derivatives world. There are an awful lot of derivatives written against oil and there’s a lot of junk paper written against oil. There will be serious ramifications to all of this….

“I am amazed at how sanguine most people are in Canada regarding the collapse in the commodity sector in general, but most particularly in oil prices. This is an incredibly negative development for Canada.

Toronto is where I live and it has been sustained by a condo boom of historic proportions. The Canadian housing markets have rivaled or even exceeded those seen at the peak of the housing bubble in the United States. I don’t think any of this is sustainable, so I think Canadian optimists should be very wary.

I also want to make an important point about currencies because I am sort of irritated by this ‘strong dollar’ gibberish I hear everywhere. Following the ongoing collapse in the Japanese yen, the euro is now following in its wake by falling apart.

Somehow Mario Draghi, the ECB president, conned investors for the better part of 2 years with his infamous remark that he ‘Would do whatever it takes’ to save the euro currency union. He subsequently did very little. This was moral suasion at its finest.

Now the European economy is in desperate straits. The Germans remain reluctant to endorse QE of any significance. Deflation has intensified. The two largest European economies after Germany, Italy and France, continue to deteriorate. And now the ugly subject of ‘Grexit,’ the departure of Greece from the Union is back on the front-burner.

So this weakness that has unfolded in the euro is justified. But when you take the combined weakness in the yen and the euro, the two biggest components of the trade-weighted dollar, and this is interpreted as ‘dollar strength,’ I take exception.

The dollar is strong vis-a-vis other currencies because the U.S. dollar remains the world’s reserve currency, at least for the time being. This allows the U.S. to misrepresent its true economic condition. The U.S. economy is nowhere near as strong as the government’s falsified macro-numbers and the extremely bogus Jobs numbers would suggest. In fact, numerous macro-numbers and anecdotal evidence suggest the U.S. may be lapsing into recession as we speak, and this is despite the massive doses of liquidity that have been injected into the system.

The old adage that you can’t correct an excessive debt problem by creating more debt holds true in spades here. The U.S. has a catastrophic debt situation. The fact that government funded debt soared by nearly $100 billion to over $18 trillion on the last day of 2014 is just the latest absurdity in a situation which will ultimately undermine the U.S. dollar and lead to the demise of its reserve currency status.When that day comes, and it is much closer than most people realize, life in America is going to change dramatically.

This inevitability will lead to gains in gold and silver prices that are inconceivable to most observers today. Currently gold and silver are severely underpriced, dramatically under-owned in the West, and quite frankly not understood by most observers in the West.

This is not the case in the East, where most significant entities such as China, India, Russia, etc, continue to accumulate massive amounts of physical gold. They keep buying all they can get their hands on. When you put this in context with the oil price being dramatically lower, I think that people who don’t have representation in gold and silver, and most particularly the shares, are making a serious mistake. The day is coming when the world will be shocked by the breathtaking upside moves in gold, silver, and the shares.”

****UPDATE - KWN readers need to update the bookmarks of the King World News home page to www.kingworldnews.com

Eric King
KingWorldNews.com

NESARA- Restore America – Galactic News

Source: http://nesaranews.blogspot.com/2015/02/the-west-is-in-bad-shape-particularly.html

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