The Move That Shocked The World Today And Why There Is Still More Carnage To Come In Global Markets…Rick Rule continues: “The lesson from this for savers around the world is to save in some form of currency that your government can’t steal — one might suggest gold.”

Friday, January 29, 2016
By Paul Martin
January 29, 2016

With some of the wildest trading action in major markets to end the week, today one of the wealthiest individuals in the business spoke with King World News about the move today that shocked the world and why there is still more carnage to come in global markets.

Eric King: “Rick, we just spoke about the nightmare that Japan has just unleashed on its citizens and the world — your thoughts.”

Rick Rule: “Eric, this is a brand new chapter in two wars. One: It is a new chapter in governments war against their own people, in particular savers. Negative interest rates are probably the dumbest idea since central banking.

The idea that someone would work hard all of their life, and then you would steal the proceeds from their hard work with negative interest rates is the most insane disincentive to the hard work and the savings of the Japanese people, who have turned around the Japanese economy since World War II.

And it’s the latest and most creative chapter in the ongoing currency wars — the ongoing race to the bottom among the world’s major currencies. I guess the Japanese will succeed in decimating the yen, and I guess they will succeed in decimating the savings of their citizens…

The Rest…HERE

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