Turk – Global Markets & Banking System Face Major Collapse
June 18, 2013
With the Fed kicking off its two-day meeting, today James Turk warned King World News that investors need to be prepared for global markets and the banking system to “literally collapse.” Turk also spoke about what Western central planners face going forward and the accompanying market risks and dangers.
Turk: “One of the most basic principles on which the Federal Reserve under Ben Bernanke has been operating is going to be severely tested tomorrow, Eric, when we get the Fed’s announcement after this current FOMC meeting concludes.
The Fed believes that its announcements can control and move the markets in whatever direction these central planners desire. So for example, the Fed believes that expectations about inflation are more important than the speed at which it is expanding its balance sheet and the quantity of money….