This Is About To Rock The Financial World
January 9, 2013
Today the man that has been meeting for the last two years with key foreign governments and sovereign wealth funds told King World News that many of these entities have “…reached the boiling point where they are really going to be unwilling to grow their reserves (of US Treasuries).” He also warned, “I think that is really going to rock the financial world at some point in the near future.”
This is the first of two incredibly powerful written interviews that will be released which reveals what is actually taking place behind the scenes with foreign governments and sovereign wealth funds, and how this will impact the financial world and the gold market.
Eric King: “Kevin, I know you’ve been communicating with many of the sovereign wealth funds overseas. What are you hearing from them?”
Sprott Inc. President Bambrough: “The burning question that I always have, I’m amazed at their ongoing willingness to continue to accumulate, and hold, such large amounts of US denominated bonds. It’s been my view that they are basically playing a Ponzi scheme.
I’ve had that confirmed when I’ve had long discussion with different sovereign wealth funds and different government agencies around the world. They’ve been willing to play this game, but more and more now, as their domestic economies have grown and the US portion of their exports becomes smaller, and with the amount of T-Bill that they have (already) accumulated, I believe they’ve reached the boiling point where they are really going to be unwilling to grow their reserves (of US Treasuries).
Just the process of not growing their reserves is going to be very disruptive. If they are not willing to accumulate more T-Bills, this is going to force the trade deficit closed. I think that is really going to rock the financial world at some point in the near future….