Turk – A Black Swan Event, Global Monetary Reset & Chaos
January 3, 2013
Today James Turk spoke with King World News about a “Black Swan” event, the coming global monetary reset, and the incredible price action that KWN readers can expect to see in gold and silver over the next 60 days. Here is what Turk had to say in this fascinating and powerful interview: “What we saw in 2012, Eric, is a good example of what I have been calling a ‘managed retreat.’ The central planners were out in force – particularly in the fourth quarter – trying to keep a lid on precious metal prices, and they managed to accomplish that to some extent. Nevertheless, despite their best efforts, last year gold rose 7.0%, and silver climbed 8.2% in US dollar terms.”
James Turk continues:
“In fact, gold and silver were higher against all the world’s major currencies last year, which is an important point. National currencies are being destroyed by misguided government policies. So while the purchasing power of these currencies is being eroded, the best governments can do and the most they can expect is to try keep the gold price from rising faster than the rate at which the purchasing power of currencies is being debased.
This battle is what the phrase ‘managed retreat’ is all about, and it is indeed a retreat. The central planners are losing the war, as evidenced by the fact that gold has now risen twelve years in a row at an average annual rate of 16.8% per annum….