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Derivatives blowup will maim govt. bond owners and ordinary people, Malmgren says
2:25p ET Monday, January 5, 2015
Dear Friend of GATA and Gold:
Former White House official Philippa Malmgren tells King World News today that government bond owners and ordinary people will take big losses in a derivatives blowup that will be too big for governments to control.
Malmgren says: "Governments deliver less services to their citizens and tax them harder, and their standard of living declines. The insidious process of high inflation is another way governments are working to get out of their debt problems without it registering to ordinary people that there has been a transfer of wealth. They are essentially taxing the public to pay for the excesses of the financial system. In that sense the process has already started -- it's just that it hasn't registered with people yet."
Malmgren's interview is excerpted at the KWN blog here:
http://kingworldnews.com/former-white-house-official-warns-terrifying-cy...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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