“They came too suddenly to be educated, and for the knowledge of how to keep the Western way of life alive. These (barbarian) people have increased (in numbers), and now they have taken over power (in the world).
So now we are in the hands of ‘barbarians.’ They have no idea of how our society came to be, and what is necessary to keep it going. They are fiddling with the controls: You might think of a monkey flying a 747 (airplane) -- they don’t have any idea what they are doing. And this is not going to end well with the barbarians at the controls.
We don’t have people who write books in power any more. I remember when a Prime Minister of England was a skilled musician and wrote books before he became Prime Minister. Where do we have such people in power today? We don’t have scholars or people with a true background of education, history, economics and politics.
They are all working on the spur of the moment. They are experimenting to see if this works and that works. And I have very serious doubts about the survival of our civilization under such people. I expect that a great crisis is coming. We are going to see a great separation and some people are just not going to make it, and the old truths are going to come back into fashion because of the need for survival.”
“I think we are going to see a series of bankruptcies. I think the rise in interest rates is the fatal sign which is going to ignite a derivatives crisis. This is going to bring down the derivatives system (and the financial system).
There are (over) one quadrillion dollars of derivatives and most of them are related to interest rates. The spiking of interest rates in the United States may set that off. What is going to happen in the world is eventually we are going to come to a moment where there is going to be massive bankruptcies around the globe.
What is going to be left after the dust settles is gold, and some people are going to have it and some people are not. Then the problem is going to be to hold on to what you've got because it’s not going to be a very pleasant world.”