Turk – This Coming Disaster Will Be Worse Than Lehman 2008
May 31, 2012
With continued volatility in major markets, as well as gold and silver, today King World News interviewed James Turk out of Europe. Turk told KWN, “The money coming out of the stock market is not only going into German and US government paper; it is also going into gold and silver…” Here is what Turk had to say about the accelerating global crisis: “The global financial situation is really starting to spin out of control, Eric. It won’t be long now before the Federal Reserve, ECB, Bank of Japan and Bank of England start more QE in an attempt to keep global stock markets from imploding and causing another Lehman Brothers collapse.”
James Turk continues:
“But let’s call QE what is really is, which of course is ‘money printing’. And clearly, while all that new money won’t solve the problem of bank and government insolvency, Eric, you can be sure it will do one thing — it will send gold higher.
The likelihood of more money printing may in fact be one reason that gold and the mining shares are starting to hold their own. In other words, gold and the mining shares have been generally rising — or at least, only going down a little — when the overall stock market is dropping….