Biggest Collapse Ever-Get Gold Now-James Rickards

1dBy Greg Hunter’s USAWatchdog.com

Financial expert and best-selling author James Rickards says another economic collapse is coming. Rickards contends, “It’s very clear, and you can prove this scientifically.  The next collapse will be bigger than anything in history or maybe since the Bronze Age or the fall of the Roman Empire.  Why do I say that? . . . We have these things coming together.  The system is larger.  That means systemically it is exponentially more risky.  The central banks don’t have any dry powder, and it is just a matter of time before the collapse comes.  In 1987, the stock market fell 22% in one day, not in a week or a month, but one day.  Today, that would be the equivalent of a 4,000 point drop. . . . In 1998, the Long Term Capital crisis shut almost every stock and bond exchange in the world.  In 2000, the Dot Com; 2007, the mortgage crisis; and in 2008, you had Lehman and AIG (failures).  In other words, these events are not rare, and they happen every three, four or five, six or eight years.  It’s not like clockwork, but nobody should be surprised if it happened tomorrow.  We’ve got the systemic scale.  We’ve got exponential increase in risk.  The central banks are out of dry powder, and it’s been eight years since the last one.  It’s just a matter of time.”

Rickards, whose latest book is called “The New Case for Gold,” says the yellow metal is a necessary survival tool to combat the next crash.  Rickards, explains, “Part of the reason for having gold is, the next time, the response is going to be very different.  The last time, they printed money to bail out the system.  They can’t do that again because they never took the money back.  The balance sheets are still bloated. . . . All the global central banks are in terrible shape.  The central bank balance sheets look like really bad, highly leveraged hedge funds.  So, what are they going to do instead?  . . . . They are going to flood the zone with trillions of SDR’s (Special Drawing Rights currency from the IMF).  That’s going to be highly inflationary.  The other thing that’s going to happen is they are going to lock down the system.  They are not going to bail out the banks.  They are going to close the banks, close the exchanges and suspend redemptions in money market funds.  They will reprogram the ATM’s so you can only get $300 for gas and groceries.  It’s going to look like Greece or Cyprus.”

What is Rickards advice to the man on the street? Rickards says, “This will be a bigger collapse than ever before.  The only rescue will come from the IMF, which will be inflationary, and they will lock you out of the system, which means you won’t be able to get your money.  So, my advice is to get some gold now. Don’t wait for the panic.  Don’t wait for the price spike because you won’t get it when the buying panic kicks in.  So, get your gold now, and put it in a safe place.  Gold is non-digital.  You can’t hack it.  You can’t erase it.  You can’t freeze it.  That will see you through the crisis.”

On top of that, Rickards says, “The Fed wants inflation . . . . They are not getting it, but they have to have it. What does that mean for policy?  That means they are not going to give up . . . . They are going to keep trying until they get inflation, and when that happens, you are going to wish you had your gold.”

How much will gold be in the future? Rickards calculates, “$10,000 per ounce with 40% backing . . . if you had 100% backing (of the dollar), that number would be $50,000 per ounce.  The implied non-deflationary price of gold, depending on your assumptions, is between $10,000 and $50,000 per ounce.  If you are going to have a gold standard and you want to avoid the blunder of the 1920’s, you are going to have gold at least at $10,000 per ounce and possibly much higher.  I explain all this in my book.”

Join Greg Hunter as he goes One-on-One with James Rickards, the best-selling author of the brand new book called “The New Case for Gold.”  

(There is much more in the video interview.)

After the Interview:

There is free information about James Rickards’ events and books on JamesRickardsProject.com. If you would like to buy a copy of Jim’s new book “The New Case for Gold,” click here.

1b

 

Comments
  1. Gregory Mannarino

    The reasons to own gold (I like silver better as most of you know), are many, but here are a few: central banks have fostered massive and never before seen distortions across the spectrum of asset classes creating an environment of extremes. On one side of the spectrum central banks have inflated a debt HYPER-bubble in order to re-inflate a stock market bubble. On the other side of the spectrum this “risk on” environment has caused cash to leave the “risk off” assets such as gold and silver making them hugely undervalued by orders of magnitude.

    • Greg Hunter

      Thank you Gregory for coming on for a comment. I will get you on again in a few weeks if you are willing.
      Greg

      • AL HALL

        Greg- been moving- move from Hell! James is very much wrong on the price of silver coming. More like $500 per oz.- a better gain by % than gold. James forgets there is less silver now than gold above ground as it is being used up.
        Be in touch soon a the move is nears the end.

      • Vincent

        Greg: Thank you for having James Rickards on USAWATCHDOG. In my humble opinion, out of all the people i read, he is by far one of the brightest and most astute obesrvers of the unfolding saga.

      • Andy

        Hi Greg, great interview as always. I would just like to know if it is possible to get an idea of what will happen with mortgage rates once this finally blows up? And more importantly what to do with ones mortgage , I.e get a fixed rate for 5 years?
        Best
        Andy

        • Greg Hunter

          Andy,
          You really don’t know how bad and how desperate things will get. Please note the criminal activity thus far just to keep things propped up. What will happen when we get the next crash? Prepare well my friend.
          Greg

    • Dan

      WOW! Gregory Mannarino commenting on a Jim Rickards interview. It doesn’t get much better than that! Two of my favorites – thank you Greg for all you do in bringing us this invaluable information!

    • Pastor Rod Flash

      As always, Gregory M, you do your homework !
      So does Jim R.
      A quote from the “gold bear : Harry S Dent from a 3/22/2016 interview
      “I WOULD RATHER HOLD GOLD THAN STOCKS , REAL ESTATE OR OTHER COMMODITIES ”
      So , if you can buy gold and or silver .
      BEFORE THE BIG BANK EXPLOSION>
      JP Morgan Chase has bought and is probably still buying millions of ounces of silver.
      They have inside info.
      A word or two to the wise is sufficient

    • Herb

      Jim Rickards is brilliant. He’s my go to guy for all things economic. Nobody’s more articulte. I do own gold, but am deep into silver. Got to wait for some kind of crash. Sick of the manipulation, but think long term. Patience always wins the war. all the best.

    • Robertteno

      Will Martin Armstong things you are dead wrong. His comment

      ” I absolutely know for a fact that some pretend analysts have been paid by the bankers to mislead people into buying so they could take the other side. Plain and simple. But as long as they tell people to “buy” the metals, they walk on water, even when WRONG, and people lose money. So let’s get real here. You are not an “analyst” if you ONLY forecast to buy. Sorry, that is a promoter, not an independent analyst.

      If you have never traded size, then you cannot possibly understand how this type of “manipulation” has always existed, and to convert this into proof why the metals are not 30x higher is consumer fraud in my book. Where’s the proof? This is like a guy writing a book on how it “feels” to give birth. If you have not traded size, you cannot understand how this type of “manipulation” does not alter trend; it simply functions with the noise zone of a market (any market, since they do it to them all).

      https://www.armstrongeconomics.com/armstrongeconomics101/basic-concepts/are-the-people-being-manipulated-by-those-claiming-manipulation/

  2. Lew

    I enjoy the interviews Greg. Mostly, the parts wherein the fear mongering is elevated to all time levels. You know, the end of the world as we now it kind of stuff. Gold going to 10k or 50k, it serves for a good laugh and in these times that is good. Thank you for your efforts to bring truth in very uncertain times, even if at times, it is laughable at best.

    • frederick

      İs that you Jacob(Lew)?

      • red

        So i’m sitting here in my public service recliner , on 80k a year looking around my office in the HR section of public health, just switched off that ebay auction on the new surface pro been looking at & noticed the heard has been thinning out round’ here lately? All my bosses have started retiring on 100k a year annuity wow !! I guess i’ll hang around a little longer for mine, the “markets” might put out another 8% for me but gee it’s getting lonely? this recovery has been great !!

    • Greetings from England

      I think it is better viewed as a ‘reset’ than the end of the world. When old/dysfunctional systems break down it provides new opportunities. As they say “nothing lasts forever”.

    • Tracy Welborn

      Lew, Lew, Lew
      How are things at the Treasury? An economic crash is not the end of the world. We aren’t talking about the apocalypse here. This is a simple math problem being worked out in regards to debt and its effect on sovereign currencies. We who prepare for these type of things are equally vexed by people like you. However, we don’t think its funny because we KNOW you will need our help in the future. It makes our preparation even more difficult.

      • Pastor Rod Flash

        Isn’t a lew another word for a bathroom toilet ?

    • sk

      Lew? Jack Lew??? We are in for the best of all possible worlds, right? Rainbows and unicorns….

    • Chip

      Normalcy bias much? Chip

    • Colin - 'the farmer from NZ'

      Lew
      It is a historical fact that all fiat currencies eventually fail. So too will the US dollar.

      Before you spend too much time falling about laughing at the prediction of gold going to $10,000- $50,000 per ounce I would suggest that you change your mindset and think of it in terms of the dollar losing value to the point of worthlessness. Think Weimar Republic or Zimbabwe. In times of hyperinflation and when a currency destroys itself, $50,000 gold could be a very conservative call.

      This is a very simple concept. The paper dollar becomes worthless and gold retains its value, just as it always has done through the millenniums.
      Cheers
      Col

    • Tin foil hat

      Lew,
      Wow, really, do you really find it is laughable at best?
      I concur 100% that it’s fear mongering to all time levels but it’s also logical fear mongering. The end of the Ponzi world as we know it is mathematically and fundamentally inevitable. The only thing we don’t know is not if but when.
      The WHEN is what got everybody spinning in circle looking like fools including James Rickards.
      I have made a few investments which generate 30X gains in about 20 years. American Eagle was around $1200 in 2009. 15X of that amount in 10 years is $18,000 by 2019 which is not too far fetched.

    • BB

      Lew, do you know who Jim Rickards is? The Pentagon asked out of ALL THE PEOPLE IN THE WORLD, to help them war-game the collapse of the USDollar. He is an insider and yet a man of the street. He is giving us all a big heads up on what real money is and what the big boys are doing. I grant you that the price of gold sounds out of touch, but the collapse of the dollar hegemony is here. It may be SDRs backed by gold OR it may be China issuing a new YUAN backed by gold, but the global reserve status of the dollar is coming to an end. He that has an ear let him listen…

    • Alberta Doc

      As a retired banker, I’m extremely concerned with the Central Banking experiment of NIRP. This is something that has never happened before and is down right bizarre in terms of what is considered normal behaviour for our central banks. This points to a very big problem that the these economist have within their systems. Nothing seems to be working that would get their targeted 2% inflation and now they are in desperation mode, because their bag of tricks is empty. Buy gold my friend, it’s the only alternative to a broken economical system.

      • Greg Hunter

        Thank you A-D for you comment and expertise.
        Greg

  3. allen ols

    greg,

    timely, excellent, enjoyed it!!!!

    • allen ols

      greg; here is M. Snyder/wife video explaining remote locations being prepared for many to come for refuge.

      David Wilkerson Prophecy From 40 Years Ago Being Fulfilled Now – Michael & Meranda Snyder Ep. 3

      • allen ols

        oops link here;

        https://www.youtube.com/watch?v=MOJDdzNDIJk

      • Scott

        I’m a Bible-belieiving, born again Christian, been saved since 1992.

        I’m so sorry to say, this – I am. Don’t want to hurt your feelings or upset you, but Mr. Snyder doesn’t know his Bible and does, in fact, sound quite _nuts_.

        Never, ever outsource your thinking, friend. The Book and the Holy Spirit are all you need to make the important decisions in your life.

        Forget Snyder’s histrionics. Trust the Lord, instead.

        • allen ols

          scott;
          u said; I’m a Bible-believing, born again Christian, been saved since 1992.
          I have been a born again believer since 1973 H S and more, does my born again date trump your born again date of 1992 work for u. I have one word for u, “sheeple”

          • Scott

            Uh huh.

            You’re following charlatans like M. Snyder, but I’m the “sheeple.” Riiiight…

            I was trying to help you out but apparently, it is just as they say, “Class of 73,” there’s no fool like an old fool.

            Tell you what, smart guy: go ahead and stick with your Laodicaean hero.

            I’ll follow the Lord Jesus Christ, instead.

            • allen ols

              scott
              listening to M Snyder, reading his economic collapse blog, lines up with my own thinking. This has nothing to do with following a person. Of course I follow the scriptures, but he is actually lining up with MY thinking, not Mine with his. You might try reading theeconomiccollapse.com or endoftheamericandream.com to find out how well Michael has done through the years helping people get ready for this eco. collapse/moral society collapse. your beginning to sound like a planet500 type

            • JC Davis

              Greg. Sounds like a good time to bring Michael S. back on to explain this.

            • JC Davis

              Scott there is no person on this site with a halfhearted attitude toward religion or politics on this site. Laodicaean Allen is far from it.
              The word Raca is not to be said among brothers. God bless you. I agree we are to keep the book in one hand and the spirit in the other. Well said.

            • allen ols

              …..
              America 1956 vs. America 2016
              Once Upon A Time – FacebookIs America a better place today than it was back in 1956? Of course many Americans living right now couldn’t even imagine a world without cell phones, Facebook or cable television, but was life really so bad back then? 60 years ago, families would actually spend time on their front porches and people would actually have dinner with their neighbors. 60 years ago, cars were still cars, football was still football and it still meant something to be an American. In our country today, it is considered odd to greet someone as they are walking down the street, and if someone tries to be helpful it is usually because they want something from you. But things were very different in the middle of the last century. Men aspired to be gentlemen and women aspired to be ladies, and nobody had ever heard of “bling”, “sexting” or “twerking”. Of course life was far from perfect, but people actually had standards and they tried to live up to them. (Read More…)
              http://endoftheamericandream.com/

  4. Evan J

    Hi Greg,

    Great interview. James Rickards is clear, concise and gets complex ideas across extremely well. Love his two previous books. His discussion of the shortages at the foundry, especially to supply China, is not new but it’s good that he personally confirms it. His discussion on deflation in this interview was helpful and his reasoning about inflation needing to be at 2% for central banks to stealthily perpetrate theft over the course of a lifetime is illustrative. What I would have liked him to address is who, ultimately, are the beneficiaries of said theft, and besides simply for power for its own sake, for what other purpose? (I.e., what is their purpose of such control?) We say it’s the elites (Bilderburgs, central planners, etc. etc.) and they’re aiming for a new world order, debt enslavement and population control, etc., but I’d be curious to have James unpack this point further and give some more detail to the threads so that we can make out the pattern on the weave a bit more clearly. He tosses out the theft through inflation as the fact it is, but stops right there. Perhaps he does give some more info on this in this new book, but I suspect this crosses some line or other. Anyway, great interview. Thanks Greg.

    • don

      Who ever has the debt wants the inflation…higher inflation reduces the cost of debt servicing. Today, governments have the highest debt loads in history…USA, Japan, Europe, etc…but most of the debt is related to paying for the social welfare state, healthcare, pensions, social security, disability payments, etc…in other words transfer payments to the citizens…so the politicians are going to keep their promises and their jobs by any means possible…basically by stealing our money from our left pocket with higher inflation to put devalued social welfare payments into our right pockets, while skimming off some for themselves and their cronies. These guys have nothing on Al Capone.

    • uma

      Easy, its just the necessity of the depth based monetary system and a spending government.

    • susan

      allen, oh for the good old days…..

      • allen ols

        susan
        I am 65 and remember clearly tks

      • Marg

        Yes, Susan and Allen . The ‘good old days’ were better in many ways. Certainly people weren’t quite as obsessed with money as they are now. People were more polite. Children respected their elders more. But, as a woman, I’ve got to say that having economic independence, equal pay etc are valuable beyond measure and my life is so much better than my mother’s was in the 50’s and 60’s. I imagine the same could be said of coloured people.

  5. Dr. G

    Great Interview, Greg. Long time reader/viewer, first time commenter.

    If you get another chance to interview Dr. Rickards, could you ask him:

    1. What are the drawbacks to having substantially more than 20% of savings in precious metals? For those of us with less wealth and savings than the typical “Currency Wars” readers, losing even a portion of savings in the stock market, to bank closures, or other financial foibles, would be devastating. If I’m looking at gold or silver not as a hedge, but as a bridge to get my savings beyond any financial collapse with all or most of it in tact, wouldn’t it be prudent to allocate a substantially larger portion of savings to precious metals?

    2. In most of Dr. Rickards speeches, presentations, and interviews, he typically defaults to portfolio examples for people with substantial wealth and investments. Does he have any recommendations for those of us with a lot less? Should we avoid gold and stay mostly in silver as “spending money? Should we withdraw from the banking system only leaving enough money for day to day, and month to month transactions, until this financial storm passes?

    3. In Dr. Rickard’s opinion, what percentage chance is there that the US government would confiscate personal gold? And if gold, would they also extend confiscations to silver?

    4. Martin Armstrong criticizes precious metals analysts who “never learn” from history, or from cycle theory, etc. and fail to get the short term moves in gold and silver correct, advice that would be valuable to day trader. However, Mr. Armstrong does appear to share the opinion that precious metals will, eventually, in the longer term, increase in value, which is where we non-traders are positioned, investing longer term in gold and silver to ride out the coming economic storms. Do Dr. Rickards, a complexity theory genius, and Martin Armstrong, a cycle theory wonder, agree, essentially, on the basic longer term (five to seven year) forecast for gold and silver?

    Any help with these questions would be appreciated. Thanks for you tireless work. All the best…

    • Jack

      If you follow Armstrong regularly, he is quite irritating and hypocritical with his ceaseless bashing of goldbugs, while at the same time calling for gold to reach a minimum of $5000. In the end, both agree gold is good.

    • andyb

      Dr.G: Worry less about PMs than the health and safety of you and your family when the SHTF. Water, food, medicines, cash and ammo will be more important when credit dries up, and the banks close. Potable water will be at a premium. Your local water company will not be functioning. Get a Berkey water filter. All commercial activity will cease, it will be a barter society for awhile. Grocery shelves will be dead empty after 2 days. Those that haven’t prepared will be out robbing and killing those that have. Know your neighbors; have a plan.
      I believe that the worst case scenario would be 6 months before some semblance of order is restored; if it’s much longer at least 1/2 the population will die in Metro areas. Grim, yes, but also realistic.

      • Tin foil hat

        Andyb,
        I don’t think it would get that bad. Fresh fruits, milk and vegetables would be hard to get or become very expensive just like in the 1970’s. Oil and gasoline would be expensive too but I wouldn’t worry about water and electricity.
        The end of the world is not going to be like Mad Max. When the Societ Union collapsed, the Russians didn’t become cannibals. With that said, I do have about 3 month supplies of foods just in case.

        • JMiller

          I agree with you TFH. I also do not believe it will be as bad as Andyb says, at least not any time soon, unless the U.S. gets nuked or the power grid goes down. Two things which are very unlikely to happen at this time. It will more than likely be similar to what we see in Argentina or Venezuela.

        • frederick

          Foil this has the potential to be far far worse than what happened in the Soviet Union because of the mindset of the population İMO frederick

          • Tin foil hat

            Frederick,
            Regarding the mindset of the population, you got me thinking about certain neighborhoods here in NYC back in the 70’s.
            I think whatever neighborhood populated by the Black Lives Matter mindset will turn Mad Max. Liberal and naive urban pioneers will get slaughtered like lambs in neighborhoods like East New York in Brooklyn and north of 125th St in Manhattan.
            Crimes will go up significantly in the rest of the city but not Mad Max.
            Damn, I now remember the ghetto here in NYC was not much better than Afghanistan back in the 70’s. Things didn’t get better until maybe around early 90’s.

    • your fan in Japan

      I think it was Marc Faber who, years ago, when asked what someone with 1000 dollars should invest in, answered…….. canned food. FWIW. (and at the least it is worth a chuckle)

    • Diana Dee Jarvis

      Dr. G,

      1. The drawback to having more than 20% of your investable assets in precious metals is that you have less portfolio diversification. It’s the old adage about not putting all your eggs in one basket. Spread your savings across different classes, so you’re better prepared for the unexpected.

      2. Same recommendations. Smaller portfolios have fewer dollars in each category.

      3. Rickards has written elsewhere that he does not expect government to confiscate gold again because holdings are distributed far more widely (making it more difficult to confiscate) and because there would be greater pushback today.

    • Gary Canuck

      DR.G you nailed it, I was thinking exactly the same thing.
      History always repeats itself, re gold confiscation, etc
      Armstrong: cycle theories,been following him for 25 years, so far he has got it right, and continues to especially with Socrates “I subscribe”

      Dines: The Invisible Crash, well he got that one right, eventually a new world currency will emerge, worth a lot less than our common currencies, after everything is put in the global blender=debt, wipe it out and start with a new fruit juice, “it will not be backed by gold” “All members of the IMF have pledged not to back their currencies with gold, you can not be a member of the IMF with a gold backed currency”

      JPM Morgan has a lot of Silver, I like that trade.

  6. allen ols

    greg;
    “The more global central banks try to “fix things”, the more they make our long-term imbalances even worse.
    To me, it makes no sense to have a bunch of unelected, unaccountable central planners constantly monkeying with the financial system. In a true free market system, we would allow market forces to determine the course of events. But of course we don’t have a free market system anymore. Instead, what we have is a heavily socialized system that is greatly manipulated by the central planners.

    That is why global financial markets gyrate wildly if Janet Yellen so much as sneezes. They know who holds all the power, and investors are constantly on edge as they wait for the latest pronouncement from our central banking overlords.

    At this point, 99 percent of the global population lives in a country with a central bank. Our world is more deeply divided than ever, and yet somehow everyone in the world has agreed to adopt this insidious system.
    It sure is quite a coincidence, isn’t it?
    Getting back to Japan, things are so bad now that the Japanese government is actually considering giving gift certificates directly to low-income young people.” Michael Snyder–

    http://theeconomiccollapseblog.com/archives/watch-japan-for-all-is-not-well-in-the-land-of-the-rising-sun

  7. FC

    What a contrast in personalities and presentations between Bo Polny and Jim Rickards, but the message was the same………..buy precious metals.

  8. Robert Lykens (formerly Grafique)

    Gold is the enemy of money/currency. Central Banks, the issuers of “money”, gain power when people have more confidence in currency than in gold.
    When trouble comes along – wars, terrorism, earthquakes – people want gold for security. They look at the paper “money” in their wallets and suddenly realize it’s only as valuable as the confidence people have in it.
    Therefore the Central Banks and Governments of the world do all they can to stifle war. This may sound like a good thing, but some wars – many wars – are necessary and should be fought. North Korea is a war that needs to be fought before that little twerp makes good on his threats. Iran is another war that needs to be fought. But the popular policy is to either contain or appease the threats of the world. If your next-door neighbor was constantly threatening you and pointing weapons in the direction of your family, would you feel safer by imposing “sanctions” on him or by removing him?
    In fact the Bible, which has a 100% accuracy record in telling the future, says that worldwide war is coming. Confidence/value of paper is sure to diminish while confidence/value of gold is sure to rise.

    • sk

      In 1953 we (the US) overthrew Iran’s legally and fairly elected government headed by Mossadegh. We (the US) installed the (unelected) Shah Reza Pahlevi. In 1979 Iranians decided they didn’t like the Shah, and a government headed in part by theocrats and in part by secular politicians was formed. The International Atomic Energy Agency has found that, at present at least, there is no evidence that Iran has nuclear development with a military purpose. Iran has not started a war with its neighbors for some 250 years. IAEA agreements with Iran permit it to develop nuclear power for peaceful uses. So, precisely WHY, Grafique, do you want to attack Iran? Given the West’s history of interference with Iranian choices, any thinking Iranian would be cautious and want defensive capability. We really cannot attack nations because we ‘just don’t like them’.

      • Greetings from England

        For all the histrionics about this Iran, the fact remains that america has been the only country psychotic enough to drop an atomic bomb on a populated city (x2). Although, I concede that was in the age before mutually assured destruction, when other countries couldn’t retaliate.

        • Tin foil hat

          Greeting from England,
          Japan was a country psychotic enough to conduct the Bataan Death March and the Rape of Naking. America was the only country which could react accordingly.

        • freebreezer

          Greetings from England – I will not say what I think of your comment! My father spent the last four months in Europe fighting before Hitler went down … thank you England! He was transferred to the pacific theatre. If it was not for the ‘two bombs’, five hundred thousand + young American boys (my father was relocated to Hawaii to ship out) were slated to be killed taking the main land of Japan along with millions + Japanese being blown to smithereens. As for psychotic, I guess you imply having millions and millions more killed by combat, fire bombings and carpet bombing of cities, kamikaze attacks etc. is far more preferred … it does not matter that those two bombs reduced millions being killed and stopped/ended the war cold turkey … but only the means matter.

          • Greetings from England

            Propaganda. Hiroshima was the biggest human experiment in history. Have you actually visited Hiroshima??? The Japanese victims were studied by american scientists to ascertain the effects, whilst treatment was withheld by them, according to the museum they have there. Japan was on the verge of surrender anyway. I thought perposefully targeting civilians was wrong. Don’t give me all the emotional blackmail with personal war stories. America won the war so get to write the history. I would not like to be bombed in retaliation for Tony Blair’s crimes!

            • Englishman

              There are accounts that they were actually trying to surrender, but the US command told them to take a number… until the day after they nuked Nagasaki.

              http://www.whale.to/b/mullins8.html

              • Greg Hunter

                Englishman,
                I don’t believe this and there is no source of this post. I’ll post it but it’s total US hating garbage.
                Greg

          • Greetings from England

            Are you an apologist for genocide?

          • Greetings from England

            By the way all you religious nutjobs – your religions are based on paganism. Your religious sites are pagan sites. Your religious festivals are pagan festivals…ha ha mugs you have been played..

            • Greg Hunter

              Greetings,
              You’ve been banned. See ya!!
              Greg

              • sk

                Greg! Diversity (of opinion as well as of other kinds) makes life interesting. Don’t ban. Argue. Persuade.

              • Greetings from England

                Why? ok, well no hard feelings.

                • Greg Hunter

                  Greetings,
                  You know why and I have no hard feelings either.
                  Greg

              • susan

                thank you, Greg.

            • Robert Lykens (formerly Grafique)

              Greetings’ values are in direct opposition to the values which made England great. I urge him to seek Jesus in reality, not as an abstract concept.

            • Tin foil hat

              Greetings from England,
              Do you consider Christian gnosticism paganism?
              I reject the Old Testament but I never look at the Jews as pagans.
              Actually, I’m with Silence is Golden who probably believes in Ancient Aliens. I’m a gnostic who believes some ancient aliens are good, some are evil and some are practical jokesters.

        • sk

          At the end of WWII, Winston Churchill said “we (the Allies) killed the wrong pig” (i.e. should have taken on and finished off Stalin, rather than Hitler) He was THERE, while we just read history. And as you all know, the victors get to write the history.

      • freebreezer

        Sk are you the old Kevin? 2nd – where in the hell did Iran come in to the discussion per the RK ‘s blog above … WOW, maybe a double dog WOW? I get tired of the old canard of ‘the USA overthrew Iran’s legally and fairly elected government headed by Mossadegh’ – blah blah blah. There has not been a legitimately elected tyrant in the Mid East – period … Even the first Iraq election after Saddam fell is questionable? Mossadegh stopped the vote count after the big city of Tehren went strong in his favor in 1952, this knowing that rural areas detested him – most of the rest of Iran did not get there votes tallied … hardly democratic but very typical of Tyrants in the ME. Yes, Mossadegh was taken out by England, with back up by the CIA. England built out the oil infrastructure of Iran, and were looking to protect there investment … right or wrong I make NO judgement … Yes the Brits were usurping a huge swath of the oil wealth, though, if the Brits did not build out the oil infrastructure there would have been NO huge swaths of oil wealth. The CIA was in favor of the coup because Mossadegh was leaning/courting an affiliation with Stalin, that guy from Russia. If you know American history, Ike (US President in 1953; Supreme commander in WWII, European theatre) really, really did not like Stalin …Maybe something Patton said finally sunk in? And if I am not mistaken, during WWII certain power mongers in Iran aligned with Adolf Hitler … not your most affable guy. The power structure of that area is as corrupt as it is old … thus do not paint this picture of poor old little peaceful Iran.

        • sk

          1) Kevin? Moi? No. 2)Robert Lykens (formerly Grafique) : “Iran is another war that needs to be fought”. I replied to Grafique. Please read carefully before discharging your missives. Or missiles. Or whatever. LOL

          • sk

            One more point, freebreezer. During WWII United States was an ally of Soviet Union/Stalin just like during WWII “certain power mongers in Iran aligned with Adolf Hitler”. Was Stalin “an affable guy”? Politics make for strange bedfellows….GOL (grimacing out loud)

            • freebreezer

              SK – your are correct – I did not thoroughly read your reply … My defense: the fairly elected Iran stuff causes steam to come out of my ears!

          • freebreezer

            SK – My point is that the Iranian election was “NOT” ‘ legally and fairly elected government headed by Mossadegh’. Again – He usurped the elections by stopping them after he won the votes in two big cities. Most of Iran did NOT get their vote counted, thus he is NOT democratically and fairly elected! … this mantra/missive has to be corrected! England, with help from the CIA overthrew a dictator and put in their own dictator … Source – The book Abrahamian, Ervand. 1982. Iran Between Two Revolutions. Princeton, NJ: Princeton University Press. Excerpts … “Most of his opposition was outside the city centers – Realizing that the opposition would take the vast majority of the provincial seats, stopped the voting as soon as 79 deputies—just enough to form a parliamentary quorum—had been elected.”

    • Colin - 'the farmer from NZ'

      Grafique

      You said;
      “but some wars – many wars – are necessary and should be fought.”
      Yep US….. go for it….. get involved in as many wars as you can…looking back over the last 20 years they have been such a resounding success!

      and:
      “Therefore the Central Banks and Governments of the world do all they can to stifle war”.
      …… yes….. directly and unashamedly from cuckoo land.

      IMO these are the words of either an evil, delusional lunatic or a reckless troll.
      What makes them even more obscene is that they are made from behind a shroud of Christianity.

    • Robert Lykens (formerly Grafique)

      Liberals believe in negotiated peace **ONLY**. The problem with negotiated peace is that the tensions which have been building toward war just continue building.

      The kind of peace which comes through victory is a real peace, because the tension-causing factors are defeated. It’s not a difficult concept.

      As for my “shroud” of Christianity, everyone’s entitled to his opinion, but may I remind you that Jesus is a warrior-God. He reveals this side of his nature throughout the Bible. Many times God commanded his people to go to war. Also, there is a spiritual war between light and darkness constantly being fought outside the realm of our perception.

      I see the need to defeat – not negotiate with – those who would hurt me and mine. I’m not ashamed of recognizing the truth, and I stand behind my original post.

  9. Frank

    A bloated balance sheet can go on forever. The Fed pays back
    the Treasury all interest. This is the same as USA printing
    its own money. They can add money forever cost free.

    • Max Meister

      Yes, but only as long as the sheeple don’t get it that “cost free money” means “worthless money”. That might take a bit longer in the US than elsewhere but i’m sure they’ll finally get it too when items of daily use will become unafordable for the average citizen. Jim is right. You want to own Gold and Silver then..

    • Greetings from England

      Until they destroy the currency

    • Linda L.

      Frank:
      Since we import most of our goods now (nation of consumers), we can print money until pigs can fly, but how will all this worthless paper feed millions of people here in the US when it isn’t accepted internationally for the goods that we import? Why do you think that China and Russia (just to name two) are stocking their vaults with tons of gold, preparing for a gold backed system?

    • Tracy Welborn

      Wrong. A bloated balance sheet cannot go on forever. That defies all accounting principles and is completely untrue. If our US dollars weren’t a reserve currency, we’d be totally screwed. Trust me, this ends and this ends badly.

  10. Erik Munkdale

    How about having John Titus on?

  11. David

    Jim Rickards never disappoints. Agree completely with his comment that we live in a “digital” world. We have to “think” analog. Great interview Greg and looking forward to reading Mr. Rickards latest book… thank you!

  12. Dan

    SDRs as next world currency? He’s DREAMING IN TECHNICOLOR if he thinks this could viably happen -whether backed by gold or not.

    SDR with no gold backing: HA! Yeah, like the new monetary system would be based on a basket of TOTALLY WORTHLESS paper fiat. Sorry nobody will go for this.

    SDR with gold backing: Technically possible. But in practical terms, it just WON’T happen. The West has no gold left in the vaults (Fed + Fort Knox vaults not audited in over 50 years, NY Fed can’t give back Germany their gold, etc.). It ain’t there amigos! As Jim said, it’s the Chinese who have been producing and buying gold hand-over-fist since 2008. Hence they have the lion’s share of the barbarous relic. Do you REALLY THINK that they would supply let’s say 80% (or even 50-60%) of the gold needed to back the SDR – again, NO WAY . Why would they? It’s not their style and it’s gonna be payback time for the decades of greenback reserve currency (and global banking) abuse (as can be confirmed by the AIIB, CIPS, BRICS bank, etc.)

    The only feasible NEW MONETARY SYSTEM will be an electronic-based currency backed by gold (in grams or fractions of grams) such as Bitgold which is not controlled by banks! Either that or it will be a gold-backed BRICS currency or Yuan. Anything else would be a fraud.

    Also I disagree that there wouldn’t be any bailouts next time. Although the Fed et al won’t have the funds to bail out their crony banks, Largarde from the IMF will dig into her saccoche and funnel them funds “in the sake of saving the financial world from armageddon”. That’s partially why they exist in the first place. Rest assured.

    Very nice house Jim by the way, love the WOOD! He’s a very bright guy with a gift to explain complicated things in simple terms. I just wished, given his connections, he would have more insight as to a FEASIBLE solution for the new monetary system. Guess they’re not letting him in the loop (or he ain’t sharing wth us).

    Greg, it would have been nice if you would have asked him about the [possible] upcoming launch of the Yuan gold fix set for this month; maybe next time…

    • Dan

      To add on my previous point:

      A new gold-backed system will be based on electronic systems backed by physical gold.

      On the retail level (for individuals) we will see suppliers (every day purchase/transaction brokers) like Bitgold (https://www.bitgold.com/).

      And on the wholesale level (for B2B, G2G, and the like) with intermediaries such as the Allocated Bullion Exchange (ABX, https://abx.com).

      Futures market ops will be spearheaded by the Shanghai Gold Exchange (SGE) and also out of Singapore.

      These parties will replace conventional fractional-reserve (i.e., THEFT) money banking as we know it.

      Looking forward to a system based on REAL MONEY.

    • Occasnltrlvr

      What, pray tell, are suggesting the IMF will reflate the world’s monetary system with, if not the SDR?

  13. Doug

    Great, great interview Greg. I’m also going to get his book. I do not know how anyone can counter that analysis. The best way to “fear not” is to trust in God. The second best way is to be prepared ahead of time. If anyone listens to this interview, they now know what is going to happen and what they should do in advance. No more excuses. Thanks again Greg for this terrific interview.

    • Dr. G

      Didn’t Jim say that the IMF would come out with the SDR global currency and it would last only as long as people were willing to go with another fiat currency. He said that wouldn’t be long. Then he suggested a forty percent gold backing. The IMF has its own gold, but not a lot, I’m assuming the 40% backing would come from each individual nation that participates in the new global currency, essentially meaning that each nation gets as many SDRs as they can back with their gold supply. He who has the gold makes the SDR rules. All of this is what Jim was talking about when he said, in the event of a collapse they rules makers (he called them the power elite) will get together and make the new currency rules, just like they have every other time the global currency system imploded.

  14. Patrick

    Always enjoy Jim’s interviews. He’s gotten so used to talking quickly for the 2-minute television spots that it is advised you re-watch even the casual interview again.
    Other than that, sage advice…
    No one’s hair is on fire, (it would be a VERY small fire in my case)
    Recognize the risk. Take precaution, and keep on keeping on…

  15. Saint Lawrence

    Did he go into the Federalist-Statist attack on Forex and Cash?
    Under the guise of “Tax evasion” demonizing non-united states business….
    the Panama Papers propaganda :
    https://www.youtube.com/watch?v=A3uCs7ebHTI

    https://www.youtube.com/watch?v=gohIJeHIK_k

    comments on this one-sided inuendo wellcome.

    • Brandon W

      EXACTLY!

    • Saint Lawrence

      Steps in the WWIII financial war:
      1. Central banks mandatory in all countries (controlled by oligarchs)
      2. Governmental control of all transactions
      3. Temporary relocation of the citizenry while removing guns-ammo and metal
      4. World-wide domination- Central control of all transaction: monitoring all exchanges of value
      5. Electronic big brother in control of legal buy or sell universally world-wide
      Cash and Barter will be Illegal

      • C romana

        Very scary. Trends support this, but maybe a revolution before this? I think many people will stop working before becoming slaves.

      • 8Ball

        At this point in time I think that it is anyone’s guess as to what is going to happen… Some people give wild guesses and others give educated guesses but they are all just that, guesses.

        Many are trying to profit from people’s indecision by telling them that they know what will happen and then selling them advice.

        Greg gives good advice for free… “fear not, God is in control”.

  16. Galaxy 500

    Wow Greg
    GREAT INTERVIEW

    • Greg Hunter

      Thank you 500!
      Greg

  17. CIA_U

    Interesting.
    Little known fact: James Rickards was a CIA Agent (agent: worked with the CIA in an unofficial capacity).
    Everyone can look up Mr.Rickards background and verify it.
    Very odd.

    • Scott

      Is anyone ever “former”..?

  18. Brandon W

    Greg,

    You know I am a fan of Rickards. I am glad you got included on Rickards schedule this week. Thank You!

    • Greg Hunter

      Thank you Brandon for the comment and support.
      Greg

    • JC Davis

      Brandon W just this morning Rickards was on Coast to Coast, He was on the Jim Baker show, and now Greg’s. A lot of interviews in one week.

  19. Da Yooper

    Greg & James

    what is to stop our US government & the bankers by extension from making Gold & silver verboten & then all of our stacking is for nothing?

    • Greg Hunter

      Da,
      You are better with some than without any.
      Greg

      • Da Yooper

        Agreed

        Provided TPTB still recognize that Gold & Silver have monetary value for the “common people”. They want that option removed from us. In some ways “things” will be worth there weight in gold & silver if & when Gold & Silver are made illegal for the general public.

      • art barnes

        Greg, the Bible says they will trow their gold & silver into the streets, meaning I think it won’t be able to shelter you and or buy you anything. Its going to be electronic money only I think, digital money which you can’s buy or sell without having the mark; meaning a password & account that is the only money you can buy anything with. Greg, also, this if for Obama, yes Obama we are, in fact, holding on to our guns and Bibles.

        • Occasnltrlvr

          Who, exactly, casts their silver in the streets and has their gold taken from them, when, and why?

          • Linda L.

            Occasnltrivr
            I believe that Art is referring to a very latter day biblical prophesy in EZEKIEL 7:19. In the day of the Lord’s Wrath, gold and silver will not save them from the turmoil of that terrible time frame.

  20. Doug C.

    All central banks want inflation. That is the basis of fractional Banking. They always need to be producing more “Fiat money” (non backed cash).
    I agree trouble is coming. Everyone needs to read the book, “The Creature from Jekyll Island”, about the formation of the Fed, Fractional Banking, and how, we the people, are being fleeced with inflation (a secret tax).

    • art barnes

      Your American great leaders voted for the Creature and they still do, lying Ted Cruz is no exception.

      • gregd

        Art,
        I noticed you didn’t capitalize the l in lying. I don’t know if that was an error. So what I’m asking is, when you call him “lying Ted Cruz, are you saying his first name is lying, his middle name Ted, and Cruz his last? Kind of like Lee Harvey Oswald? Or did you mean that was his profession? Perhaps just a hobby? If not wouldn’t Clinton also be called lying Hillary Clinton? But where does that leave us with Obama? Being that its his profession and his hobby and the fact that he’s not at good at getting away with it, do you think it would be ok to refer to him as “lying Barack Hussein Obama”? As in who is the worst President the United States has ever had?
        Never mind, It was a rhetorical question anyways. This will teach me to never drink shots of fireballs while watching Greg Hunter at 11 pm.

  21. Greetings from England

    The bigger they are the harder they fall…

  22. Greetings from England

    Harry dent believes cash will be king – does this apply to money trapped in a bailed in bank? Even if deposit insurance pays out, most business accounts exceed the covered amount.

    • Greg Hunter

      Greetings,
      Please keep in mind Your cash is debt. Debts will be defaulted on.
      Greg

    • Pinocchio

      If cash will be the king, then logically I will be Flash Gordon.

    • Karl

      Greetings.
      Harry doesn’t get the full picture. If the banks go up.in smoke then your savings that are their liabilities go with it. Dent and Prechter are using the 1930s as their playbook. What they seem to forget is that back then we were on a gold standard hence money kept is value.
      If all money is now debt as Greg says when their are large scale defaults the money goes with it.

  23. Ed Pool

    Greg thanks for the interview with Jim. Jim thanks for the basics or schooling lesson on numeraires. I try to teach this to folks all of the time and have been doing so for years. However, due to the incessant propaganda and the emptiness of our schooling and academic regimes only about 1 in 50 seems to get their head around the subject matter and then, most importantly, go out for themselves and cross check what they have been taught. No exceptions however if they do take the time and are open in mind and spirit, they all make tracks to a hasty exit from the Luciferian monetary system that the western world is presently subject to.

    The 2% inflation number should shock everyone in its’ value cutting end result. More importantly is when one evaluates not only investment strategies long term but in how to price goods and services to remain mathematically profitable discounting in its’ entirety the ponzi developed tax scheming of federal and provincial governments. Think what one may the presently operating federal reserve system circa 1913 is nothing less than an organized criminal enterprise and those institutions whether for profit, non–profit, academic or governmental are the participating harlots that have systematically laid waste to the greatest Republic known to human kind. From my perspective it is gone and will not by any measure return to the world scene within minimally two generations. That of course assuming an aggressive force of actions.

    I now tell younger folks to begin to learn Mandarin and Cantonese so they will be able to talk to their new boss. The next Nuremburg trials for crimes against humanity will be the who’s who list that we see every day in the mainstream media, academic and political landscape.

    Thanks again Greg and Rickards kudos on taking them to school.
    Regards,
    Ed Pool/Thaddeus Thorn

  24. Jallen

    Greg,
    Most excellent interview with Jim Rickards, reading between the lines;
    The Federal Reserve and the US Government (Since 1913) need at least 2% inflation to silently steal your money!!! You are not free to get your money out of the so called bank in large cash amounts without having the U S Government tracking you and possibly confiscating your money. I just received notice from my bank that checking accounts with no activity for one year and saving accounts for two years with no activity are considered dormant and if they can’t get in touch with you, will turn the accounts over to the state of Pennsylvania. I call that CONFISCATION of your money. Wake up Watchdogs, we are headed for a cashless society and THE MARK OF THE BEAST, it is only a matter of time. For all non believers, get yourself a Christian BIBLE and read the Book of Revelations (Includes writings about THE MARK OF THE BEAST) and pass the word to others. With cash you have more freedom than with digital money as
    digital money is easily controlled by the banks and government, let alone an electrical failure or EMP attack shutting the system down. The reason Governments and centrak banks hate Gold and try to set its price is because GOLD is the canary in the coal mine and warns people at what rate the CENTRAL BANK AND ITS SERVANT, THE LIBERAL / PROGRESSIVE / NEO CON GOVERNMENT IS STEALING YOUR MONEY AND ITS CONTROL OVER THE MEDIA TO MIS INFORM YOU AS TO THE CAUSE OF YOUR MISERY. WE ARE HEADED INTO SERVITUDE WITHOUT KNOWING WHO IS THE MASTER. What is better thank gold? The AMISH people can exist without money / gold as they are self sufficient and totally independent of the need for the Government of man. People have scoffed and laughed at the Amish and it now appears they have it right and we have it wrong as they trust G-d and not the Government of man. Long ago G-d ruled Israel through his Prophets and Israel rebelled and wanted a King, got it and the rest is history. How long has man gone without war and how long has America gone without war. Look at the current destruction of Syria! Woe unto Americans for our time is at hand. This ends todays rant.

    • Scott

      A most excellent post, to which I can only add… amen!

      Romans 10:9, Romans 10:13 are good places for unbelievers to look, that’s where I went as a lost man. Salvation is simple, the free gift of God’s grace, purchased with the blood of the Lord Jesus Christ. Believe, repent, and ask… that’s all that’s necessary, with sincerity, asked from the heart.

      God bless you, Brother…

      • R B

        Hey Scott ,I say blessings to you for your witness for Our Lord Jesus, I’m encouraged to see the call going out for whosoever will come. Consider 1st John 3 verse 1 Behold what manner of love the Father has bestowed upon us ,that we should be called the children of God.

        • Scott

          Also excellent! Thanks for the added reference, the encouraging words and taking the time to post, both are much appreciated! =)

          God bless…

    • Saint Lawrence

      Electronic big brother in control of legal exchange…
      universally world-wide
      Cash and Barter will be Illegal

      • Linda L.

        St. Lawrence
        So no more garage sells or swap meets? Can’t see that happening anytime soon. I would think that if things got really bad, only a few would have the resources to compete for new, retail items. Seems like bartering would become the way of life just to survive..

        • Saint Lawrence

          Partly right you are,
          when the banks and legal system pull the plug on
          the federal reserve note: It will be like the “Continental
          or Confederate dollar”

          Look at todays’ trends – direct deposit to accounts for labor and paychecks; Elec. Ben. Transfer Cards (ebt),
          zon machines and electronic cash registers; no cash allowed on airplanes or boats of any large quantity…
          Yard Sales will be like Weekend Trading posts
          and there will be some governmental control person
          controling the “electronic” money transferes.
          Rickards says often that the world will be a “cashless”
          electronic (gov. controled) society.

          • saint lawrence

            This is how their playbook works—

            a new electronic currency replaces the
            old paper currency with a 100 to 1 value.

            paper dollars become pennies…

            ” …revalued in 1960, with each new
            franc (NF) being worth 100 old francs.
            The NF designation…”

            https://en.wikipedia.org/wiki/French_franc

            • saint lawrence

              post script:

              metal detection devices and drone airial
              metal detection drones will call
              911. the united states code will
              put exchange of precious metals
              in the same catagory as counterfeiting.
              the united nations, NATO, NWO, CFR,
              Rothchilds/ Rockafellers oligarchs-
              world-wide WILL make PM’s more
              illegal than heroin.

    • JMiller

      Jallen,

      Just for clarification, the State of Pennsylvania considers an bank account dormant after three years of inactivity.

      http://www.patreasury.gov/media/archive/2016/03-24-BUP-Holders.html

      So that one year of inactivity for checking accounts and two years for savings accounts that your bank says would be make them dormant accounts is your banks policy.

      • Jallen

        Jmiller,
        A couple days ago I received notice from my bank it is 1 year for checking accounts and two years for savings accounts. I am aware of the three year rule. Please check with your bank as I think it has changed. Pennsylvania is desperate for funds.

  25. randy0302

    Great comments from Rob Kirby about this new book to his subscribers!

  26. Paul

    A fantastic interview! Rickards has an enormous understanding of the complexities and dynamics of markets, Central Banks, Intelligencia and Street smarts. His ability to simplify things complex is refreshing. He puts to shame the market masters who disparage GOLD and their mantra that it’s an ancient relic. AND his logic lines perfectly with BO Polny….DID I hear him say a 4000 day drop in stock market is not only possible-it happened!; DID I hear him say that GOLD at $10,000/oz is not only possible it is likely probable; Did I hear him say Central Banks are out of ammunition and that a significant event is a matter of WHEN not IF….Seems he and BO Polny DO have a lot in common!!!

    • Greg Hunter

      Thank you Paul. I was surprised about how many big points they came to the same conclusion on. Both bring a unique perspective to the table. I know for a fact they do not know each other. Thank you for your comment.
      Greg

    • JMiller

      Paul,

      You did not here Rickards say that a 4000 point drop in the DOW in one day has happened in the past. What he said was that we already had the DOW decline 22% in one day (1987 crash) and it could happen again. The DOW lost 22.61% on October 19, 1987 but that was only a 508 point decline. The S&P 500 lost 20.47% on that day. So the DOW could lose 22% in one day again even with the circuit breakers. If a 22% decline would happen today the DOW would lose almost 4000 points.

      • art barnes

        JMiller, it doesn’t matter in a crash if there is a stop circuit or not, as soon as it starts again the momentum is DOWN! The only way to actually stop it is not to allow it to start again, which in my mind is the actual plan in the event. What happens then is a book in itself, but I bet the book of that is already written just waiting to be announce.

        • JMiller

          Yes, but the stock market is limited to how much it can decline in one day because of the circuit breakers which is what we are talking about. Not that it can’t continue to fall the next day.

  27. stonewall

    Jim Rickards is well connected and certainly knows the inner working of TPTB
    so when he warns the system is ripe for collapse I listen with both ears. Terrific
    interview Greg.

    • Paul

      Thanks JMiller for the clarification! With the enormous derivative exposure; extreme levels of debt; geopolitical mahem in the world that could ignite any moment a 22% drop in Dow in one day seems very plausible .

  28. Pvt. Mushroom

    Excellent basic discussion of inflation/deflation. He didn’t mention what % of net worth to be held cash, bank account, silver etc. and didn’t really discuss percent of net worth to be held in what items, i.e.house, property ( what kind), PM’s, business,etc. Wealth distribution opinions by knowledgable folks is what’s very important to me and my friends when we discuss these things. As it stands we have off the wall very widespread opinions on this.

    Thanks again Greg.

    • CrazyCanuck

      … While mentioning he had some of his 90% of non house and business assets in land, rare art etc., he did not mention what the “average joe” without the deep pockets he has might want to ensure they have vis a vis wealth insurance. Maybe once the basic food, water, ammo etc are squared away the % for PMetals might be higher than a mere 10% IMHO.

  29. James Sullivan

    Greg, re: your poll. I have difficulty voting since i don’t see either choice reasonable.
    Sharia is not acceptable for a modern western culture, and the constitution has failed in execution. How about another choice: ‘The constitution as envisaged by the founders’
    …just a thought.

  30. HankH

    Another check in the “buy Gold & Silver” block.

  31. dchayden

    What an excellent interview !!! Very much appreciated !

    ~dchayden

  32. Martel

    Great Interview.

    My question is what about silver. Historically the gold to silver ratio has been 1 to 15. Today that ratio is 1 to 80. So either gold is overvalued (which I do not believe) or silver is undervalued. If gold does go to $10 000, will silver go back to its historic ratio? Secondly, when gold becomes scarce due to shortages and price escalation, does it not make sense that silver will be the default choice of PM buyers? I know that silver is an industrial and PM metal but its abundance over gold, in my opinion, will make it a natural choice (platinum as well but to a lesser extent).

  33. Ross

    While I respect James Rickards for his original insights into our economic tribulations, he is not the godfather of economic wisdom. I see the return of the gold standard as being a short term fix. If you remember the story of the Wonderful Wizard of Oz , the yellow brick road was one of slavery whereby a few elites who had most of the gold, assumed most of the wealth.

    So who owns the 170,000 tons of gold on the planet? Who presently owns the power to create money as debt ? The answer to the latter is the bankers and the former is the bankers by half.
    In terms of having a fairer system nothing will change since under James Rickard’s system of the IMF creating the new currency again as debt,at much higher interest rates , the people will be just as enslaved.

    • Occasnltrlvr

      Excellent point.

      A fiat, debt-based monetary system is unsustainable, whereas a gold-based system may be sustainable. But neither may be equitable.

    • Manuel

      With respect to the Wizard of Oz, that is why the adoption of “silver” (there is no place like home, remember, Dorothy’s shoes were silver in the book) as an additional monetary unit was sought as the answer to using only gold as a monetary metal. It would allow more “money” into the system for the benefit of all.

      The key to a gold/silver standard is to get rid of Central Banks issuing currency, as well as eliminating fractional reserve banking, and get the Treasuries of Countries to issue its own currency (without having to pay interest for doing so). If a country needs to issue more currency than it has backed by gold/silver, it simply issues the currency and, with it, purchases an equal amount of gold/silver, thereby getting more money into circulation with the necessary gold/silver backing. If there is too much money, they simply buy back gold/silver and contract the money supply accordingly. As long as the free market is dictating the price of gold/silver, you have a system that is more likely to be fair and equitable than the current fiat system, imo.

    • Greg Hunter

      Frank,
      The government is doing an ongoing default by monetization of debt.
      Greg

      • WD

        They never would have even considered addressing a topic like this before….something is a miss within their ranks.

  34. Matt Jaymes

    From a purely intellectual point of view, Rickards is ultra bright, but I must admit, he makes me nervous. Anyone that has worked for or has connections with the CIA is suspect in my humble opinion. In any event, great interview, very informative.

  35. diane s.

    I wonder if the US or China or Russia can possibly set the price of gold?
    What if the other countries don’t agree to the set price?
    How would that work?

    • Macray

      diane s
      Suppose the US wishes to reset the Gold Price to 5000.
      They say who ever wishes to sell Gold, we will pay 5000 an ounce for it.
      Where we would we get the funds to pay for this? Take a guess : )))))))))))

  36. Russ McMeans

    I agree with Rickards on all this, but I have a question/theory for everyone: 1# Jim worked/s for government. 2# gold is cheap and not popular in America these days- among the masses anyway. 3# Gold dealers need to sell gold/silver.
    4# the exchange stabilization fund MAY be getting low on funds. Theory: why not replenish Fund by pumping up sales of gold, then outlaw it- as they did in 1934-; then have people- including the mega wealthy Americans living abroad, turn in their gold for whatever the spot price is at the time- on threat of hefty fines, then big government can revalue gold much higher. Thereby helping the US Treasury and fattening up the ESF…… So is Rickards the salesman? I’m not sure if this conspiracy theory will come true, or if there is enough gold held by Americans to even work.
    Remember though that that’s how the Exchange Stabilization Fund was created …..

    • Diana Dee Jarvis

      Russ, if gold dealers need to sell gold, there are plenty of people from other countries willing to buy it. There is no shortage of buyers.

    • Occasnltrlvr

      I’ve thought for quite some time that a reset of the price of gold higher relative to all currencies is in the cards. This is exactly the last step of the playbook that The Bernanke laid out in his famous speech several years ago, and as you astutely point out, was precisely what financed the agency whose function has been to sustain USD hegemony lo these many years. (And, of course, this idea of a “reset” of currencies relative to gold has been promulgated by Jim Willie.)

      But, perhaps this may be the precise reason the Chinese have stockpiled gold hand-over-fist: to prevent the ESF (or any other such entity, such as the IMF) from continuing hegemony of any one currency to the exclusion of the yuan.

      As far as Mr. Rickards being utilized to increase the net US-confiscatable stockpile? Very interesting idea.

  37. uma

    Greg, I wanna hug you!! Great interview.
    I was thinking “A new case for Gold” …. what about silver?
    The whole interview I said please Greg, go for it, ask, cuz I ask Rickards twice and got no answer.
    And in the end, I gave up on it already, Greg p, you got straight at it !!!
    (Thats how we know you !)
    Its interesting how Rickards answer was, about silver, even the body speech. “Just like your batteries”, “if Gold goes to 10.000, silver goes to 100”, … so much to the ratio freaks.
    This would be 1:100 ratio! Message, if he believes what he says, .. he says people better buy gold, ….. or … “silver, just watch in the other direction”.

    Maybe gold will go up only, cuz the banks and the fat cats go for it, as they back a new system.
    Silver would go high, if the reset plans fail, and the street runs for it, as gold got sucked up by the fat cats and is too expensive.

    … worth some thoughts….

    • Greg Hunter

      Uma,
      You can give me a “mental” hug instead of real. Thank you very much for the support and kind words!!
      Greg

    • Tin foil hat

      Uma,
      I think the old gold:silver ratio would hold only if silver were also used as a monetary metal.
      Silver is too widely used in solar and rocketry to be considered as a monetary metal like gold. In a high inflationary environment, the price of silver would go up like other metals for its commercial usages but not for the purpose of monetary reserve.

  38. Anna (from Maryland)

    Just want to comment on the difficulty of extracting cash from the banks. I did it little by little every day for a good while with no difficulty. I asked at one bank about how much I could get from them in cash without having to make a special request and the checker said about $3000 was no problem so I proceeded to only cash out $3000 a day at two different checking accounts ($6000 total per day). Naturally if I’d had more checking accounts I would have gotten more per day. There were no questions asked, and I went to different branches, up to 50 miles from each other, of the two different banks over the many weeks I did this so was not visiting the same branches so often (of course they could see this on-screen but at least I wasn’t seeing the same faces too regularly). I was told once that if I asked them in advance how much I wanted they could get if for me but I didn’t want to raise any more flags than I probably already was. Only once did a higher up lady at the bank make me wait while she called my brokerage (Scottrade) to verify that the original check deposited from me was good and not somehow fraudulent since I was rapidly withdrawing the funds. So you can get your cash out, especially if you’re willing to not take out too much each day. If you have three checking accounts you could get $100,000 out in about 12 days.

  39. Anna (from Maryland)

    Like to add that this was a real project, took time and nerve, and this was in 2009. Converted investments in CEF, GLD, and SLV into the real thing.

    • Bob H

      Anna, my wife and I did the same thing over a period of @6 months. Have no savings account and only enough in our joint checking account to pay our bills.

  40. Matt

    Obama pushing banks to lower standards for home loans. Here we go again. http://www.zerohedge.com

    • art barnes

      Yea, their setting the little guy up for another foreclosure to take their home away from them, you can’t make this stuff up. Is this 2007 & 2008 all over again in 2018 when those teasers loans become due and payable again.

  41. Jerry

    Greg,
    Thank you for having Jim Rickard’s on. I definitely like his reset outcome of landing on a golden pillow, much better than mine, where my neighbor is trying to rip my liver out and put it on a stick. I personally think the reality of the situation will be somewhere in between. During your interview I kept hearing in my mind that lyric from an eighties song ” things go better with rock”. But instead of rock I was picturing gold.

    I’m not sure what history book Jim has been reading, but my grandmother (who lived through the depression) once told me that as many as 8 million people died in the first six months after the crash. The numbers are probably impossible to verify because so many people were displaced, but I would imagine without any government assistance that number may be conservative.

    As I have stated before, I’m following my grandfathers playbook from 1929.
    – Stay out of debt.
    – Be self reliant.
    – Be able to protect yourself.
    If have extra money I buy silver, otherwise everything else goes into basic necessities.
    The wealthy have always had the advantage of being in a better position because of their ability to have hard assets such as gold during hard economic times. On the other hand two ounces of gold will buy a years supply of food for two people of lesser means.

    • WD

      Jerry,

      I wouldn’t count on wealthy having a tremendous advantage anymore. Even they are up to there eyeballs in debt….just different rations, they also believed because of their status they have “immunity”

  42. Arron Silverstein

    Ive spectated a few stories on this site since a colleague of mine has pointed it out to me its existence and there is one problem that seems to be perpetually ignored. This issue is that there is simply too many people on the earth. Until we significantly roll back population, we are going to keep having these on again/off again problems. Unfortunately, the Soros’s, Brezinskis and Kissingers of the world cant seem to agree how to tackle the problem. However, they better get their act together mighty fast or it will mean more carnage at a higher cost. A good old fashioned war would help, but we need something with a greater magnitude and they know it. Personally, I would like to see complete depopulation of Africa because the mineral infusion to the rest of the world would be good enough to restore order for 50 years or so. However, guys like Soros, Brezinski and Kissinger are now darkie lovers and refuse to cooperate and instead want to exterminate the WASPs.

    • Greg Hunter

      Arron,
      Let’s cull the global population and start with the “Soros’s, Brezinskis and Kissingers” of the world. That would be the way to go.
      Greg

      • Arron Silverstein

        C’mon now don’t be silly. These guys are the policy thinkers and agenda setters for most of the major think tanks and government policy makers in the world that roll out policy. They aren’t going to simply commit suicide and believe me they have a large support base that depends on them for their wealth.

      • Sidewalk Apostle

        Great interview Greg! You keep a full stable of great guests every week!
        I believe I read in Jim Marrs book, Population Control, if you were to give everyone in the state of Oklahoma 100 sq feet of space, you could place 19.8 billion people inside the state alone!

        The fallacy of overpopulation and global warming, created by the neo-fascist government is to create fear in order to control the masses into thinking how they want you to think. If you are awake from the matrix, their mind control games have no effect.

        I agree with you Greg, lets get rid of the satanic cabal of 1% of 1%s first and watch all these depopulation efforts by them including war disappear. The world would be a better place!

        “these on again/ off again problems” are created by these mad men. We are told by Jesus that evil will have its time, but for the sake of the elect those days will be shortened. Selah!

    • Brad

      You’d have to elaborate so people can tell if you are joking, trolling, lying, phishing, or actually mean what you said. (Whatever it is that you actually said)
      And why the name “Arron Silverstein”.

    • uma

      the best way to tackle overpopulation is, stopp spending money on war and killing and put it instead in research an development, go out of here into the space.
      Then we might find out that we have much to less people to explore the universe.

      With Gods help we might be able to reach that goal, as he didnt create our little planet only, but the whole universe…
      Amen.

    • sk

      Wow. Psychopathic much? I can’t believe that America has produced a specimen like you. Howzabout we start by eliminating the offspring of parents who have trouble spelling, Arron? After all, intelligence is a valuable trait! LOLOL

      • Brad

        And then we should kill uma for lack of a capital U and for using the word “stopp”. Nobody like that deserves life, right?

        Please stop being so trivial. It shows extreme shallowness of thought on your part. If the Illuminati are going to whack out 90% of us, what are you going to do about it besides pushing bad spellers to the front of the gas chamber queue? BTW, if you are doing that, you are probably in the queue too. Wise up.

        They always tell us the world is overpopulated and at the same time Americans use too many resources. What’s the answer to that, logically? Reduce the number of Americans of course. But no, they seek to increase the number of Americans by immigration. The real issue is genocide. That’s what Merkel is doing to Germany. It’s pretty obvious to me, but most people are so busy nosing out “racism” or scouring the net for bad spellers to notice. Searching for bad spellers is important (because they could be psychopathic) but there are more important issues.

        • sk

          Brad! I was replying to Arron, quite tongue-in-cheek, sarcasm, irony, gallows humor, black humor, AKA joke, all that good stuff that flew right over your head. Let’s not kill ANYBODY. Let’s all couples decide to have just two kids, ie replace ourselves. Some of the kids will not make it to reproductive age, and the population will decrease slowly and humanely.

          • Brad

            Now you are really sounding scary. Are you a white genocide promoter, deep down?

            Or does that fly straight over your head? It does with most.

            • sk

              ALL couples, black, white, yellow, brown or chartreuse, silly! How does that equate to genocide????? The world’s population goes down in all groups. Slowly. Without the violent depopulation that Arron speaks of. China one-child-policy lite. Two child policy.

              • Brad

                Oh sorry, I didn’t realize. You are a useful idiot. I should have known but thank you for clarifying.

              • Englishman

                “So the final conclusion would surely be that whereas other civilizations have been brought down by attacks of barbarians from without, ours had the unique distinction of training its own destroyers at its own educational institutions, and then providing them with facilities for propagating their destructive ideology far and wide, all at the public expense. Thus did Western Man decide to abolish himself, creating his own boredom out of his own affluence, his own vulnerability out of his own strength, his own impotence out of his own erotomania, himself blowing the trumpet that brought the walls of his own city tumbling down, and having convinced himself that he was too numerous, labored with pill and scalpel and syringe to make himself fewer. Until at last, having educated himself into imbecility, and polluted and drugged himself into stupefaction, he keeled over–a weary, battered old brontosaurus–and became extinct.”

                ― Malcolm Muggeridge (ex liberal, latter realist)

                So there.

      • Occasnltrlvr

        How would one laugh out loud, other than out loud? I agree with you: intelligence IS a valuable trait.

  43. Paul

    Rickards states if gold us used to back up all the outstanding fiat in the world we can have a price of $50,000 dollars per ounce similar to Jim Sinclair’s projection … and at a 40% gold backing of world fiat gold would have a price of about $10,000 dollars per ounce … with 170,000 tons of gold in the world (worth $6.528 trillion dollars) we WatchDogger’s can now make a better estimate of the amount of fiat “these experts think” currently exists in the world … at $50,000/oz gold both Rickards and Sinclair are assuming about $272 trillion dollars of fiat exists in the world … and at 40% only $183.8 trillion fiat dollars in the world has to be backed by gold … an $88.2 trillion dollar difference in world fiat … lets take the lower number ($183.8 trillion) and assume (as Harry Dent does) that an additional $100 trillion in fiat is destroyed by outright “debt default” … this leaves $83.8 trillion of world fiat debt money that has to be backed by gold … divide the $83.8 trillion by $6.528 trillion (the worth of the 170,000 tons of gold in the world) and we get 12.837 … multiply 12.837 by $1200 (the current price of gold) and we get a projected price for gold of $15,404 dollars per ounce … now lets assume a 40% gold backing … and we get a projected price of only $6161.76 per ounce for gold … not bad (but it is only 5.13 times your money) … however silver is a much better play … because at a 5 to 1 (silver to gold ratio) easily possible as silver is becoming “rarer” then gold … silver can rise to $1232.35 fiat dollars per ounce ( which is 79.5 times your money! … so an investment in silver is 15.497 times better then an investment in gold!!!

    • Dan

      I don’t believe the silver to gold ratio has ever been 5 to 1. Also, no guarantee that it will lower from current level of around 80 to 1 to historic ratio of around 16 to 1. It could just as easily rise to 100 to 1 (as Rickards implied). There’s a reason governments & central banks hoard gold rather than silver. If one can afford it, gold is clearly the precious metal to have. If not, silver will do nicely as an alternative IMHO.

      • Paul

        Dan … if silver stays at 80 to 1 … then silver only returns exactly what gold returns … 5.13 times your money … but if for any reason the silver to gold ratio falls below 80 … you are ahead of the game!

        • Paul

          Dan … many may believe that an ounce of silver selling for over $1000 dollars per ounce is ludicrous … but the reality is it is occurring right now before our very eyes … https://www.goldeneaglecoin.com/item/chinese-silver-panda-one-ounce-1985 … this is one reason I purchase Pandas when ever they are available at a low price!!

          • Dan

            Hi Paul,
            Thanks for the reply & the good info. I guess the only thing better than gold OR silver is gold AND silver!
            Regards,
            Dan

  44. Jerry

    This is your wakeup call. As Jim Rickard’s just said in Greg’s interview, his suppliers can’t keep up with the orders from China. Why?
    http://www.globalresearch.ca/why-are-russia-and-china-buying-gold-tons-of-it/5518896
    My dear friends, Jim Rickard’s gave you the answer. There is a reset coming and it involves gold. The stampede through the exits has already started. According to my sources the Chinese are dumping their silver inventory back into the market to purchase MORE gold. Even with the Yuan going negative the Chinese are buying massive amounts of gold. What does that tell you? Its one of two things. They either have a deep affection for gold, or they are preparing for something.

    • Paul

      Jerry … seems to me the Western bankers are “ripping off” the East … selling them gold for silver … the Western bankers are going to make 15 times more money on the silver they buy from China … then the gold they are currently dumping on them!

    • Brad

      Isn’t the idea that they are the victims of a huge pump and dump also consistent with these facts? How can we tell for sure?

  45. Jerry Snyder

    Thank you for the excellent article and interview. Does it matter what type of physical gold to purchase, 1/10 ounce vs. 1 ounce coins, bars? Thanks

    • Greg Hunter

      Jerry,
      One ounce bullion gold and silver eagles are the best. No proofs not numismatic coins. Here’s more on how to buy and why: http://usawatchdog.com/how-to-buy-gold-and-silver/ The sponsor of this page Discount Gold and Silver Trading is honest. I get no commission from sales and zero info. Took me a year and a half to find someone reputable.
      Greg

    • allen ols

      jerry
      I and my brother use D G S, ask for melody, or Carla. 1/10 oz will cost more per oz than just buying the full 1 oz coin. If u cant afford the one oz and need to buy in increments, I understand.

  46. Sam Banbury

    excellent Greg, thank you.

  47. Donna

    Shades of Wiemar? Wheelbarrow of paper $ to buy a loaf of bread. So that leaves barter,I’m guessing the riff raff will just steal unless citizens have guns or weapons to defend themselves.

  48. Jeremy

    Thanks for slipping in the question about silver at the end. In all the interviews JR has done this week I have not heard it asked.

  49. red

    RIP Merle, This was an American, I bet he loved Trump…
    https://www.youtube.com/watch?v=Vd0G3BF6tqo

  50. art barnes

    Greg, all out stop Trump by the MSM including old fair and balanced Fox News. The people are waking up, thank Him that we are not buying their B.S. any longer. I still think there might not be an election this year, WHAT SO YOU?

    • allen ols

      art b
      the rep/dem have manipulated who they want elected for a loooong time and are very skilled at it. If they want cruz/trump/or alternative they will manipulate it, as they do the markets banks, govmnts, or gold and silver, or the media, or sheeple. It is a big club and u are not welcome/in it. geo. carlin

  51. Jerry

    Jim Rickard’s discloses plan to kill the dollar in secret IMF meeting.
    http://thedailycoin.org/james-rickards-secret-shanghai-accord-kills-usd-and-crowns-sdr/2016/04/06/
    Hmmmm. Where have I heard that before?

    • Jon

      Thanks for the link Jerry. The link to the interview is: http://www.trunews.com/trunews-033116-james-rickards-terry-sacka-days-are-numbered/

      Rickards, to me, is a little off putting when he has to remind us he’s the expert etc., but that was a pretty good interview. Not only does he not speak like an auctioneer in this interview, he gives the best explanation (and simplest) of the machinations of the 1933 U.S. gold confiscation starting at minute 28 I ever heard.

  52. Ken Russell

    If you can’t send Kitco 1200 bucks, there are other ways to own real gold. One is Bitgold, and another is Valaurum gold notes. You can Google both and find out how they work, how to sign up, etc. Mish is a big fan of Bitgold, and Chris Martenson at Peak Prosperity is a fan of Valaurum. I can and have taken Mannarino’s advice and have physical silver.

    Bravo Greg! Rickards is always an education. He has been saying all things in the interview for a while and his evidence follows the reality of the data, like Mannarino’s charts, etc. Also, the weekly updates from your Missouri rural location is a fantastic hint. I also have a wonderful bugout location thanks in part to seeing your “live studio” location of the corn field in Missouri.

    You have no idea how much so many of us appreciate what you do. Thanks much.

  53. Oxfarmer

    Greg…interesting interview, thanks for all you do! It’s amazing how many of the people on this site want to do your job for you…get this guy, get that one, ask these questions (numbered, so you don’t lose track). What balls! They are not, of course doing any of the work. Let them manage their own sites, they’d be out of business before too long.

    I have no way of evaluating Rickard’s claims. I am glad to read his interview and mull over his advice. BTW, gold has barter value right now. Try it on your local surgeon, as a friend did. To my surprise, the doc was willing to settle the bill for gold. I think this had less to do with tax evasion and more to do with getting real money.

  54. Nick-dog

    So we are going to have a historic market crash and silver only reaches $100 or so? I think that’s a bad bet and incongruous with the severity of what he is describing. If the crash ahead of us is historic and epic, which I believe it will be, I believe silver wilł reach its historic parity with gold at 6.25-10% of the spot price of gold. In the environment being described, I’d even expect an over correction due to scarcity and panic. I think a $100 silver in that scenario seems about $900 too low. Is anyone else with me on this? Thanks Greg for all you do. your show is tops!

    • Macray

      Sorry Nick-dog
      I’m only seeing $700 for Silver no later than 2021, but that is based upon personal analysis. You still may be correct!

      • Nick-dog

        My low end for silver is 500 an ounce post crash. I think it will be more if it is truly biblical, but we shall see. Thanks for your post. How did you get to 700?

    • Manuel

      Nick-dog: You are still too low, imo, think “no bid.” There will be few if any willing to hold paper assets of any kind with a reset of currencies. People will be rushing to pick up hard assets like gold and silver, and will pay any price to get some…either that, or lose all of what they own by holding ever increasing worthless paper. That is the demand side….now, on the supply side, there will be no supply available…what price would you sell your silver if we are in the middle of a reset?? None, like everyone else holding it. Would you really sell your silver at $1000/ounce after a market crash or would you wait until a reset occurs? Overwhelming demand meets no supply and you get a paper price explosion of of worthless currency until after a reset with a stable backed currency is established. Then, and only then, will any sellers emerge and true price discovery of gold and silver will be established. But remember, after a reset, any amounts held from gold/silver holdings will have real value compared to the worthless paper assets that remain.

  55. pat the rat

    I like both gold and silver , gold I get from valaurum .com 1/10 th of a gram of gold $10.00 and, .25 of a gram $20.00. Silver coin has $1.00 on the coin do you think government will not trade $ 1.00 bill for a silver coin? This is the reason I like 1 ounce silver bars it dose not say one dollar on it!

  56. Ron

    Best interview in a while Greg, thanks. Rickards is all facts. I just ordered his book and another 100oz silver for “spending money”. Please have Rickards back as often as possible. Thanks also to Greg Mannarino for his insights and great interviews.

  57. SimpleMath

    James Richards’s analysis is so clear and logical as usual because he knows what he’s talking about. When you know history, have both academic & real world experiences in the field, and have done extensive research for your book, you will be able to connect the dots and develop a clear vision. I enjoy his last two books every much and can’t wait to read The New Case for Gold. Just ordered it from Amazon and it’s already a best seller item on the site. I’m sure this book will be the New York Times best seller as well.

  58. Sayonara

    Excellent Interview. Jim Rickard is one super sharp guy. I especially liked the comparison and contrast of Bo Polny and Rickard this week. Two completely different intellects arriving at the same conclusions. Nobody conveys better information and points of view than USA Watchdog period.

  59. art barnes

    Greg, any chance you will discuss the N. Korea nuclear & launch testing tomorrow on the “wrap up”? Think it might be important because I think the New World Order and or the Neocons maybe holding this one for a false flag when they need to use one. Both Iran & N. Korea are Siamese twins working with each other on these evil projects; great events to stop an election, stop the market, bring in the gold and or cash, bank closures, etc., etc. If you don’t discuss it tomorrow I bet you will be sooner rather than later. Thanks for your site, meaningful, intelligent discussions.

  60. steven starr

    Regarding the calculation that Mr. Rickards uses to estimate the true value of gold, I would point out that the official values for M1, M2, etc do not include many trillions of off-book dollars held by the Exchange Stabilization Fund. I suspect if these were included, then the estimated value of gold would be closer to $100k to $300k per oz.

    • Greg Hunter

      Wow Steven!! Thank you for pointing this out. No matter what the price of AU in $ terms should be much, much higher.
      Greg

    • Macray

      Excellent point ss!
      Nick-dog, I may need to revise my $700 silver call higher!!!

  61. uma

    Just got the book,.. reading, …. he writes (freely) , “the us governm. doesnt audit the gold in Fort Knox a.s.o because they want people forget about it, they dont want to give it unnecessary importance. But it is there.
    I would like to know then, why the german members of the Bundesbank were not allowed to see the German gold? They requested that for an audit, and got pushed to stand down (even by german politics, where Merkel babbled blindfooledly, “the gold is there”, you just need faith). – havent finished the book yet, but got a bit annoyed by that argument.
    Jim, I might believe you, if you would have written, “I went down there, .with my Pal Bernanke and . I promise you … its there”.

    I start to tend to agree with my friend Bill Holter … Rickards is an 80%der truth … and the other stuff .. well …
    But the book is worth the 80%, just dont believe anybody and think yourself, would be my advice. And this is possible due to people like Greg the USwatchdog, who ask question and let his guest give their take on the situation. The truth will trickle down bit, by bit.

    Great work, and now a mental double hug 😉

    • Greg Hunter

      Thank you Uma for the mental double hug and your comment!!
      Greg

  62. Karl

    The S and P broke key support at 2043 today so I think this may be the start of the next leg down. EU banks made fresh lows

  63. sk

    Not you, Uma. My reply was to Arron.

  64. Jerry

    If your money is still parked in a bank, you have my condolences.
    Deutsche Bank is down for the count, and when they go they’re going pull the rest of the international banks with them.
    http://www.zerohedge.com/node/528284

  65. Coalburner

    Greg;
    Sorry I missed my shot at Greetings from England! Tell him my clan won’t be shedding any more blood for them when they have to go total Islam or die. I’d rather the kids go AWOL or do a Bill Clinton! Especially if it is Islam taking Europe. When sheeple become as stupid as now, they are not worth saving. The weasel from England is probably a muslim anyway. Yes, that may make me some kind of phobe like a US Patriot

    • Greg Hunter

      CB,
      He’s gone. Greetings can believe in Santa Clause if he wants, but he’s not coming on here and trashing Christians. There are plenty of other places to do that. Thank you for your support.
      Greg

  66. James Woroble Jr.

    EXCELLENT! One of your best interviews to date.

  67. Paul

    You know I was thinking after reading the Israeli Times article below … and I have come to the conclusion that for Israel’s “greater safety” we should learn a smart lesson from Iran … Iran makes and produces all its own military equipment … it does not buy any military equipment made in the West … why?? … because the western military/industrial complex can place “back doors” in their Western purchased military weapons … which can be activated during a hot war to disable all the western military equipment Iran purchased … Israel relies almost exclusively on “Western purchased” military equipment … now I know Israel has great relations with the US and European nations … “but” … what if relations begin to deteriorate (like between Netanyahu and Obama recently) … should we be defending ourselves with weapons that most likely have hidden “back doors”??? … it is something to seriously think about … http://www.timesofisrael.com/iran-says-its-planning-to-produce-explosives-used-in-missile-warheads/

    • JC Davis

      Paul. I always enjoy your postings. You make me think, I like that.. Keep it coming.

  68. Alex

    Dear Greg,

    This is a very god interview!

    But, let me say just that it also may be in the function of lowering the expectations (for price of gold rise) and managing the public opinion of the western economic disaster that might be substantially worse as described in that interview.

    All the best, Al

  69. John D

    Mr. Rickard states that gold is not good for anything other than monetary purposes. Then who needs it ?
    I would rather hold tangibles that are valuable! Like firewood, a chainsaw, woodstove, cattle and other livestock, food stuffs, water filtration equipment, medical supplies, whiskey, farm land, building supplies, a hunting rifle ect ect … Gold and fine art sure are pretty to look at, but not good for much else.

    • Occasnltrlvr

      Think of the long-term future. That’s gonna take a LOT of firewood to get your new then-equivalent of a New Holland T5-Series. A handful of gold might be easier.

      The value of a monetary purpose is to preserve purchasing power into the future.

  70. E Miller

    Greg,
    Excellent interview.
    Here is a link on comments provided by Bill Holter on Jim Richards and on your interview with him. http://www.tfmetalsreport.com/podcast/7552/a2a-bill-holter
    Very interesting indeed!
    Rickards is brilliant at conceptualizing and communicating but that does not necessarily mean what he communicates is totally reliable. In his book Currency Wars, page 103, he writes “al-Qaeda attacks on September 11, 2001”. The book was published in 2011. So, I am asking myself on which side is he really?
    Greg, Could you consider interviewing Clif High? His work shows some amazing predictions for silver. His website is http://www.halfpasthuman.com

    Greg,

    • Russ McMeans

      Incredible interview at TF metals site with Bill Holter & Mr. Turd. Amazing! Thank you! And God bless the Hunter. (Mr. )……. He’s like the Donald behind the curtain..

  71. Laurence Rollaston

    Dear Greg,
    I am a regular listener. That interview with Jim Rickards was tough;I know it.He talks very fast. He changes direction often. He does not give you time to break in. I found it all a little bit disturbing. What really bothered me was that he said that the Fed was having a tough time getting 2% inflation.What? Did not John Williams say inflation was 8%? After 30 minutes your left thinking,what happened there? Keep up the good work…

  72. John D

    Occasnltrlvr
    Your reasoning is predicated on at least 2 unknowable concepts.
    1. The assumption that the Government allows those that have gold to
    use it as a medium of exchange without bureaucratic interference.
    2. The supposition that if Gold transactions are made illegal, that some will continue to want it bad enough to risk criminal prosecution.

    I am not willing to accept this risk

  73. hayek

    You know what would be really helpful, and probably attract a whole lot more attention?

    Invite both James Rickards and Harry Dent and moderate a long, focused discussion between them, focusing on the gold price. Rickards says way up, Dent says way down.

    You’re very good at what you do, but you’re unfortunately in the position of having to try and sort out what the different guest experts deem to “explain” to you.

    They obviously can’t both be right, but we’re all just too damn stupid to directly mount a sustained challenge to either of their views. But they could.

    I would love to see this be the beginning of a series of moderated debates between them and others.

  74. Bill Voelz

    John D
    Good points but #2 translates into black market economics at local levels.
    Paperhanger

  75. Don

    Great interview, my friend. If theres anyone out there that by knowledge and instinct, may know the pattern the Fed. will follow during a global collapse, he would be my pick. Many others have good insight, but Jim has experience, behind the seen knowledge, having dealt deeply with the government, and treasury and fed. With so many, unusual meetings, the Shanghai accord, and now the fed. has moved to cover the CME, probably indicative of a near breakdown in the Comex, I believe we’re probably pretty close to an event. So I’m making a trip to some stores to pick up whatever amo my son may need. Greg, we can always count on you to bring current events and truth. My hat is off to you, I could never do what you do, with the class you show. Lord Bless, and if he tarries much longer, I hope your able to continue without government restraint. Your da-man

  76. Paul

    Can anyone actually provide simple laymans speak in terms of what is going on with all this debt and collapse talk?
    IS there a balance sheet showing us how gold will re-balance and the rest will go to hell in a hand-basket?
    Or some similar diagram ?
    Why not just keep printing more as they have been for decades and gotten away with it.

    • Alberta Doc

      Because they can not longer get away with it! That’s the point. Fiat currency systems have nothing but a promise backing it and those promises seem to be very shaky these days. The U S dollar has been propped up by the fact that most oil traded in it because of the deal made in the 1970’s with the Saudis. The economic environment of the time made the “petro dollar” work and it has enjoyed that status as the global reserve over the past 30 plus years. However in the last few years Shale Oil production in the USA caused that environment to change drastically and put the USD reserve status at risk, as the USA’s promise becomes more and more harder to believe.

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