Today former US Treasury official, Dr. Paul Craig Roberts, warned King World News that the United States is going to collapse just like Rome. Dr. Roberts also discussed what is going to cause the collapse in the United States, and how it compares to Rome. Below is what Dr. Roberts had to say in this fascinating interview.
Eric King: “Let’s talk about the U.S. dollar. I know you have a lead Roman coin. Can you compare what happened in Rome with what the U.S. is doing with its currency and how we are in trouble just like the Romans?
Dr. Roberts: “Well, the Roman empire, of course, was a hegemonic power — the ruler of the known world, or most of it. It was not only always fighting abroad … but they had a large number of civil wars. So the cost of fighting themselves and maintaining their armies against outside forces essentially bankrupted the empire.
And the way they continued to finance the empire is the way the United States is continuing (to do), they printed money.
Now, in those days there wasn’t paper money, so the way you printed money was you took the coinage, which was gold, silver and copper, and the backbone of the Roman coinage was the silver denarius and that was used to pay the legions. It was the main currency within the empire, the silver denarius.
So what they began doing was debasing the silver denarius. They added a bit of lead so that the silver went further and paid more bills. And then they would add more lead and more lead. I believe my coin is from the 3rd century A.D., but it’s almost entirely lead. In fact, it really is. It’s entirely lead. It might have 1 percent silver in it. So the silver disappeared from the coinage and it became lead which has no intrinsic value, and inflation exploded from the overproduction of the denarius.
Well, that’s what the United States is doing with quantitative easing. The Federal Reserve is printing enormous amounts of money. Despite tapering, the enormous amounts of money are still forthcoming. … So it’s very difficult to see a happy or successful future for the United States.”
Source King World News
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