Dr. Paul Craig Roberts-U.S. Markets Rigged by its Own Authorities–It Blows the Mind
● We have a situation where all the markets are rigged. All the markets are manipulated. We have a stock market at all-time highs, and where is the economy? There’s not one. There’s no recovery. 53% of Americans earn less than $30,000 per year. Well, the poverty rate for a family of four is something like $24,000...If there is no income to drive the economy and there is no credit expansion to drive the economy, then how does it go anywhere? You can’t possibly have a recovery. ● How long can they fool people? Foreigners are getting nervous because they see the Fed creating all this new money. [The] appearance of cutting back the money printing is a way to protect the dollar. Obama Care is another headwind for the economy as monthly premiums for many double. The whole thing is constructed to produce massive income for the insurance companies, and that drains the economy. [So, what does Dr. Roberts see for 2014?] ● I would expect, this year, the economy will drop again, and they won’t be able to hide it. So, the deficit will widen...and the widening deficit will again cause dollar worries. Who’s going to finance it? It means the Fed will have to print more dollars. The Fed won’t be able to cut back $10 billion a year. It will have to increase it $30 billion a year, $40 billion a year, whatever. ● The West is draining itself of physical bullion...If there is a currency collapses and you try to flee into gold, there won’t be any there. The Chinese will have it. It’s gone on longer than I thought it could go on. I didn’t realize all the deceptive and crooked methods they would use to rig the markets. The notion that a democratic capitalist country having its markets rigged by its own authorities–it blows the mind. This is not normal. What will they do next? I don’t know.