This collapse is bigger than governments and central banks, Turk tells King World News

Section:

7:40p ET Monday, October 3, 2011

Dear Friend of GATA and Gold:

GoldMoney founder and GATA consultant James Turk today tells King World News that Europe's financial situation is worsening, that Germany is realizing that it might be able to rescue itself but not other countries, and that, having no counterparty risk, gold will continue to be seen as a haven for capital. An excerpt from the interview is headlined "This Collapse Is Bigger than Governments or Central Banks" and you can find it at the King World News blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/10/3_Ja...

CHRIS POWELL, Secretary/Treaurer
Gold Anti-Trust Action Committee Inc.



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Lewis E. Lehrman on How to Solve the U.S. Debt Problem

Lewis E. Lehrman, chairman of the Lehrman Institute, sponsor of The Gold Standard Now project, advises that to reduce the $1 1/2 trillion U.S. deficit, the Republican Party must initiate an investment program.

Working Americans are not saving, which enables the banks to lead the country into a cycle of debt, leverage, boom, panic, and bust.

Lehrman says: Eliminating the budget deficit of a trillion and a half dollars cannot be done overnight. The proposal by U.S. Rep. Paul Ryan was very dramatic -- one Republican called it radical -- but it was not happily received. The solution, of course, is to design an American program for prosperity, because you can solve these entitlement problems with a growing economy. We need a tremendous program of investment, and investment comes from savings. When you pay savers, middle-income professionals, and working people 0 percent at the bank, you are not going to encourage them to save. Then we are left with a bank cycle of debt, leverage, boom, panic, and bust."

To read more and to sign up for The Gold Standard Now's free, noncommercial, weekly report, "Prosperity through Gold," please visit:

http://www.thegoldstandardnow.org/gata