- Former US Treasury Official – China To Dominate US!
Today a former US Treasury Official warned King World News that the Chinese are positioning themselves to dominate the US. He also discussed the desperate situation the US now faces and what all of this means for the battered gold market. Below is what Dr. Paul Craig Roberts had to say in part I of this powerful interview series.
Dr. Roberts: “The United States economy is very ill. They (central planners) don’t have a solution. They are locked into printing money. If they try to stop quantitative easing they have to worry about the bond and the stock markets collapsing, and they have to worry about the balance sheet of the banks….
“The main purpose of quantitative easing is to support the prices of the debt-related derivatives that are on the banks’ balance sheets. So, the higher the bond prices, the more solvent the banks appear. How do you get out of that policy? You are really trapped in it. If you stop it you’ve got a financial panic.