Rick Rule: $150 to $170 Oil, Gold, Fraud & Dangerous Times!
- We live in a period where fraud is legalized. Theft is sanctioned. But the reality is: this period is coming to an end. And it is going to end with a ginormous BANG! There is simply too much debt and fraud in the system.
Rule – $150 to $170 Oil, Gold, Fraud & Dangerous Times!
With continued volatility in gold, silver and oil, today King World News interviewed Rick Rule, CEO of Sprott USA. Rule told KWN the world is out of $60 oil and maybe out of $70 oil. He also said the circumstances in Greece bring up the issue of moral hazard and the situation is extremely dangerous. Here is what Rule had to say: “I don’t know if it spins out of control, but it’s clearly fraud. Greece had an engineered default, which they chose not to call a default. This is just plain fraud and if you and I tried to do this, in the context of a private issue, we would go to jail. The fact that people who operate under a sovereign do it is very strange and very dangerous.”
“This strengthens the power between sovereigns and allegedly private sector banks, which are increasingly instruments of central power. This is also very bad for savers who put money in banks and the banks turn around and stupidly lend the money to sovereigns. The sovereigns then turn around and bail out the banks, in effect nationalizing savings and risks.”
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