Today MEP (Member European Parliament) Nigel Farage spoke with King World News about what he described as the possibility of, “a really dramatic banking collapse.” Farage also warned that central planners want to enslave and imprison people inside of a ‘New Order,’ and he described the situation as “horrifying.”
Farage also discussed gold, but first, here is what he had to say about the ongoing financial crisis: “Governments don’t have the courage to tell the people that we cannot afford to go on living the way that we are. We’ve really failed very badly in having honest politics, so we have this gross and very grave debt problem.”
“Now everyone has decided, the Bank of England, the Fed, and the European Central Bank, who are utterly brilliant people that have led us to the mess we are in, they’ve all decided that the solution is quantitative easing. The solution is to go on printing and creating false money in an attempt to buy our way out of the (ongoing) crisis.
My take on that, my historical perspective is that all we are really doing is actually compounding the problem....
“It means that at some point in the future, it may be three years, it may be five years, but at some point in time we are going to get (massive) inflation. If you devalue money, if you increase the money supply, that is what happens (massive inflation). We know history has told us this again and again.
It isn’t the euro that scares me anymore. What scares me is the sheer level of indebtedness, and the fact that so many of our banks in the Western world are just in such serious trouble that we could face a situation where even if governments wanted to bail them out, the problem may become bigger than them.
So I do not discount, at some point, a really dramatic banking collapse.”
Farage had this to say about discussions in Europe where they are looking to cap the interest rates on the debt of both Italy and Spain: “On a financial level it’s comical because it’s the same money that swirls around the system, which we know in the end doesn’t work.
But the sinister aspect of it is that the intention of men like (Italian Prime Minister) Mario Monti, and my old friend Mr. van Rompuy, is they actually want to enslave and imprison the peoples of these countries inside their ‘New European Order.’
And it’s horrifying because ultimately what it means is that people are going to reject and rebel against this. They will rebel against it with violence, and they will rebel against it with political extremism.”
Farage had this to say regarding gold: “Short-term, over the next few weeks, I have no idea what the gold price will do. We are at a period here of incredibly high risk. We face huge problems with the West’s indebtedness and a very fragile banking system.
I can only repeat that any sensible investor will have a decent percentage of their portfolio invested in gold. And if things really do go as badly as I think they could, then the gold price could well shock people in terms of how high it goes.”
