On the heels of the news out of China that some shadow bank loans are backed by non-existent gold, today King World News spoke to the man who has been focused on uncovering sensitive government and market information for over 15 years. What he had to say will surprise KWN readers around the world. Powell discussed Eric Sprott’s warning and stated that we will eventually see the paper gold Ponzi scheme lead to “bullion bank catastrophes” that will create a short squeeze unlike anything the world has ever seen. Below is what Chris Powell had to say in this remarkable and timely interview.
Eric King: “We
now have news out of China that some of the shadow banking system loans
were backed by non-existent gold. Over here, Eric Sprott has warned
that the West cannot continue to hemorrhage gold out of its vaults
indefinitely — that the West will simply run out of gold.”
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