Our Path To Collapse Will Impact Everyone Around The World
December 15, 2012
On the heels of continued volatility in global markets, today acclaimed trader Dan Norcini spoke with King World News about the path to collapse which the West has chosen, what it means, and how it will impact every KWN reader around the world.
Eric King: “You’ve seen the chart from Egon von Greyerz. This particular chart covers silver (content of the coinage) from back in the Roman days, but it is fascinating. Your comments on where we are and how we relate to that chart?”
Norcini: “I found that chart fascinating, Eric. As a student of history it just speaks to me. But I look at that and I see very similar parallels to what’s going one here in the US. You could take this chart and change the title out and in a sense substitute any great nation, any great empire or kingdom from the past.
You are going to see the same thing repeat itself over and over again. When you look at the decline in the value of the currency there in Rome. A common denominator in all of these civilizations is you first see it in morality. The moral structure or virtue of that empire declines.
Its ethics begin to decline and decadence comes into society. That reveals itself in all aspects of society. It also reveals itself in the monetary system of those societies. During the days of Rome, what the authorities did, in order to counteract some of the decay in the civilization, was they began to resort to ‘coin clipping.’
The reason they did that was they found a way to multiply the amount of money that was in circulation by shaving off tiny bits and pieces of the silver coins that were there. They could then (take those clippings) and mint more coins….