Today a legend who was recently asked by the Chinese government to give a speech to a large number of government officials in China warned King World News that the world is going to plunge into total chaos and panic in 2015. John Ing, who has been in the business for 43 years, takes KWN readers on a trip down the rabbit hole of governent theft of assets, and central bank lies and corruption. He also made a stunning prediction about gold.
Eric King: “John, you warned King World News on January 12th, ahead of the euro collapsing against the Swiss franc, that there would be a series of cascading global defaults. It was amazing timing on your part. What is going to happen now?”
John Ing: “The Swiss move shocked the currency markets. This was just days after promising they would keep the peg. The bottom line is central banks can’t be trusted and the central banks are now involved in open financial warfare….
Continue reading the John Ing interview below…
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Eric King: “John, you made the call for a cascading series of global defaults ahead of the stunning move by the Swiss that put some currency houses and hedge funds out of business overnight. Now you are saying central banks are involved in open financial warfare. What is your visions of how this will unfold, because you warned in your previous interview that this would be worse than the collapse of 2008.”
Ing: “When Lehman kicked off the collapse that accelerated in 2008, the printed money was used to bailout Wall Street. But today Wall Street is even more leveraged. The biggest banks possess a staggering $250 trillion worth of energy exposure, which is highly mismatched. So the astonishing leverage today is even higher than it was in 2007.
World To Enter Period Of Total Chaos
We have yet to hear about defaults in the energy space but that is coming. This will start the cascading series of global defaults I warned about. We also have defaults by Russian oil companies that will play into this and even Russia itself, along with Venezuela that will default. So there are sovereign defaults as well as the big bank defaults and corporate defaults that are still to come. This is why we are going to see a series of cascading defaults that are going to send the world into total chaos.”
Central Banks Don't Want Public To Know Their Money Will Be Seized
Eric King: “As this cascading series of global defaults unfolds, how will it be handled?”
Ing: “The last time, in 2008 – 2009, the governments bailed out the banks. They have now changed the rules, Eric. So we will see massive bail-ins and money will be taken directly from unsuspecting people’s bank accounts. This is something that the central banks are not telling the people because they don’t want to create panic ahead of the coming cash seizure.”
$2,000 Gold This Year
Eric King: "What will the world look like at that point?"
Ing, who recently was asked to give a speech to a large number of government officials in China, responded: “As I said, Eric, the world will be in total chaos. I’m expecting $2,000 gold this year. The world is awash with dollars and someday soon, just like with the euro against the Swiss franc, the dollar will collapse against gold. This will happen because 50 percent of America’s debt is held by foreign countries, particularly China, and a country like China is going to lose patience with the United States. When that happens all hell is going to break loose.”
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