Catastrophic Meltdown Coming to America-Doug Casey
By Greg Hunter’s USAWatchdog.com
Investor/author Doug Casey says most Americans are ill-prepared for what is coming. Casey explains, “This huge recession that started in 2007, and the bottom was 2009 and 2010, has cyclically recovered. So, people think it’s going to be happy days again, but it’s not. The way the government engineered this recovery is by creating trillions in currency units, and as we speak, they are creating $55 billion a month more by buying government bonds and mortgage securities. All of this paper money which is currently sitting in banks, at some point, is going to wash over the U.S. You’ll see very high levels of inflation. It’s going to be quite catastrophic.” Casey, who has a new video called “Meltdown America,” contends, “The standard of living for the average American has been dropping for years now. The average American can’t lay his hands on $2,000. A recent poll came out and said 40% of Americans, if they had to get $2,000 cash in 30 days, couldn’t do it. So, things are pretty strapped, and when the economy goes off the deep end again, and I think it could happen this year quite frankly, there’s going to be a lot of unemployed people, a lot of people without any money and a lot of people with a lot of debt. There is nothing the government can do at this point except print more money. The problem is all the money they are printing is coming out of a financial fire hose at the Federal Reserve. The rich guys are where the fire hose is, and the little people are just getting some dribs and drabs. This is why the country is becoming polarized, where the rich are becoming richer and the poor are becoming poorer. It’s exactly because of these government actions that are incredibly stupid. . . It’s just bailing out the rich. The prognosis is extremely grim. There’s no way out.”
What does Casey mean when he says, “There’s no way out”? Casey explains, “It means, in the real world, there is cause and effect. Actions have consequences . . . . What could happen? You could have lots of bank failures. You could have a stock market crash. All this money that the government has created has bulled up the stock market to new highs. So, the next step is likely to be down. A lot of people have assets in the stock market, and if they don’t, their pension funds are in the stock market. Most of the cities in this country have and most of the states in this country have gigantic pension liabilities that are underfunded, underfunded even though the stock market is at all-time highs and the bond market is in a super bubble. Now, when interest rates inevitably go up from these artificially suppressed levels where they are now, the bond market is going to collapse, the stock market is going to collapse, and with it, the real estate market is going to collapse. These pension funds are going to be wiped out. Then what’s going to happen? This is a very bad situation. The U.S. is digging itself in deeper and deeper.”
So, could the U.S. one day just default on its enormous debt? Casey says, “There is really no pleasant solution to this problem, but actually, for years, I have advocated the U.S. doing exactly that. Right now, the U.S. has official government debt of $17 trillion. This is not repayable. In addition to that, there is another $65 trillion in obligations that it has to make good on, like Social security, for instance. I suggest the U.S. government default on all these things because, otherwise, it is going to mean the next generation of Americans is going to be indentured servants. It’s an insoluble problem at this point. It’s just as if you or I had borrowed a million dollars and we lived high off the hog for a year. At the end of the year, after an artificially high standard of living, we would have a very real decrease in our standard of living if we were going to pay the million dollars back. I think the U.S. should default. I think it would also serve as a good thing to punish the people who loaned the U.S. the money and enabled it to do all the stupid things it has done with the money. Another advantage would be the U.S. wouldn’t be able to borrow again for a good long time, and that’s a plus too. The U.S. is going to default one way or another. I’m just saying they ought to do it overtly and honestly as opposed to catastrophically by destroying the dollar, which is the way they are actually going to default on all that debt.”
What will happen to your retirement funds that are not wiped out by a crash? Will the government simply take what it needs to survive? Casey thinks, “The U.S government is not ‘We the People.’ The U.S. government is an entity unto itself. It’s as separate from U.S. society as General Motors or Apple Computer. So, its first interest is to look out for itself, and its only source of revenue is confiscating wealth from the American people. Of course, it will. Governments are always doing this type of thing. Here in Argentina, they confiscated everybody’s pension account three years ago. . . . Of course, it’s going to happen in the U.S.”
Join Greg Hunter as he goes One-on-One with Doug Casey of CaseyResearch.com.
(There is much more in the video interview.)
After the interview:
If you would like to see the new video from CaseyResearch.com called “Meltdown America,” click here. For Doug Casey’s most recent book “Right on the Money” click here.
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
thank you so much for having doug casey on. he is dead on and is very down to earth. it amazes me that already knowing that from 1913 we were heading for disaster, yet we the people and the gov’t just march towards death of the country. 90% don’t have a clue.
has anybody noticed that some of greg’s interviews are americans that no longer live in the usa.
Thank you Bob,
I had a feeing folks would like what he had to say.
Greg
Greg, ever think about putting a voting mechanism on the comments section? You know, thumbs up +1…
Bob,
You read my mind. I was just thinking of all these experts that have moved away from the states. I have a feeling they know something more, like a certain timetable we don’t have access to.
Good observation
Doug Casey always provides a great interview. He sums it up easily; so much so that you can tell in his voice how sure he is. When all of these predictions come true (and they will), I can see Doug saying “Well…did this really surprise anyone?” I still recall in nervous awe his last interview with you, when he said that right now, the American citizens are a milk cow…and soon, we will become a beef cow (slaughtered). He is right on point. I hope more and more people will listen but the vast majority are, for lack of better words, “distracted”. Keep up the great work Greg. Ingenium superat vires.
Doug,
Yes sir, Genius overcomes strength. Thank you.
Greg
Thanks for asking the SDR question. It does highlight that in the future it would be safer to get paid back in a basket of currencies than the dollar
Doug mentioned that since the Fed was founded the dollar has lost more than 98pct of its value.
More dangerous to the dollar than the Fed is the President and his use of Executive Orders by which they can destroy the value of the dollar or create financial havoc with a stroke of -think confiscation of pension funds or these two examples: http://smaulgld.com/think-fed-destroyed-dollar/
Greg,
The preparation points are very good but I would add one more vitally needed one. The average American should secure their homes. They should forms strong bonds with family and community in order to protect what they have or else risk attack and even death by marauding army of zombies that will be running around looting and killing. Once the services and government infrastructure begins to fail violence will follow.
As a very young child, I saw this happen in Cuba and it was not pretty. For me, it has been full circle. My mother got me out of Cuba and brought me to the U.S. I fell in love with this country and it’s affectionate people. Of course, I was too young to realize this country also had a dark side. So now, I am here at the precipice and all I can say is, “it is 1959 all over again.”
Jose, there’s still some 57 Chevy’s driving around Havana. Sorry you seem to have jumped from the frying pan into the fire. At least you got to live like an American capitalista for over 50 yr’s, in all it’s hegemony’stic, debtamony’stic glory!
Last night on Coast to Coast am, George Noory had on Nomi Prins. She said our best politicians, money could buy [China and George Soros*], [starting with the Clintons], sold out to the Wall street gangs and removed the regulations that kept the banks out of the Wall st. casino pump and dumb rollercoaster,(remember Glass-Steagel). Well we all know what happened. The gambling, (excuse me gaming) Bankster suckers eventually lost all our money we trusted with them, to the Wall st. gangster traders [Goldman Sucks, ect. . .] Then the richest Wall st. gangsta trader of them all Hank Paulson, hired all his Wall st. trading cronies and put together Tarp to give back what they legally got to steal from the banks, because the restrictions were gone that would have kept our money in the banks where it belonged, that we the people now have to pay back in loans, plus he begged the Chi-Coms not to dump our t-bonds gave them all of our federal lands in hock, (aka dingy Harry an Rory Reid) . There money grubbing not only sold us out, but there own kids and grand kids, because the republic, for which it stands, for all, under God, is going under the bus! Is it just legalized crime or incompetence? How bout_ B O T H! Even the republicans sold us out to big pharma, Why do you see all those drug commercial’s on TV. You don’t feel any better do you, but there a heck of a lot richer!
While das fatherland security is awash in bullets, the Fed reserve has run out of bullets and us the taxpayers are out of money. Will fatherland security charge us for the bullets they use, while were under the bus, like Stalin charged his people?
Remember what Maggie Thatcher said?
“Welfare only works until the government runs out of other peoples money to give away” In 21st. century USA., welfare went to the crony capitalist rich. Now the pump is ready to dumb and fleece us once again. Stocks will tank, bonds will dip to nothing and that’s not zero interest, as inflation soars like an eagle. Wall street will teem with those who_used to government bank bailouts_now seek other “targets of opportunity” they can fleece.
Nomi say’s were already in a one world central bank’s government, [only Russia stands in the way, China’s on the fence.]
The world will see an unprecedented era of American austerity-and chaos-as the economic cancer takes it’s final toll. *[in these brackets not Nomi’s words]
L I F E I S F R A G I L E _ H A N D L E W I T H P R A Y E R! B E P R E P A R E D.
ARE YOU READY FOR ANY NATURAL OR UNATURAL DISASTER?
BE AWARE OF THE RISKS IN YOUR AREA. PLAN IN ADVANCE WHERE TO MEET IF FAMILY MEMBERS ARE SEPERATED AND WHOM YOU WILL NOTIFY OF YOUR WHEREABOUTS. KEEP EMERGENCY SUPPLIES ON HAND, INCLUDING FOOD AND WATER, A FIRST AID KIT, CLOTHING, RADIOS, WATERPROOF FLASHLIGHTS, AND SPARE BATTERIES. HAVE ENOUGH SO THAT YOU CAN BE SELF-SUFFICIENT FOR SEVERAL DAYS OR EVEN MONTHS.
How bout getting paid back with GOLD?
http://www.zerohedge.com/news/2014-05-06/and-first-thing-ukraine-will-buy-imf-money
Just one nitpick: Argentina does NOT ‘change their currency’ every so often. In ’91 under Menem the peso was pegged to the US dollar ( the convertibility plan), and un-pegged at the beginning of the millenium. Argentina hasn’t changed their currency in a long time.
Outside of that nitpick, good work! Casey adds to the growing chorus of voices warning of the dire moment when the bill for the american way of life arrives. It’s not going to be pretty.
I own a multidisciplinary therapy clinic in Canada. I was doing my quarterly HST filing the other day, and talking to my accountant, who is an expensive and well known chartered accountant in this city. We were chatting about asset allocation and diversification, and I mentioned to him that because I am largely service based ( as I make most clinic revenue from private medical insurances here in Canada, and not the federal / provincial government plans ) and that I expect to be hit very hard when the economy tanks ( I assumed he knew where I was going with the conversation) and that I have taken 5% of my savings and purchased physical Gold and Silver. This guy almost laughed me out of his office. He and his colleagues had no clue about what I was talking about…and I mean no clue, zero, zilch. It is scary how many people have no clue about the slippery slope we are on, and I can not help but feel that this will “blind side” a large amount of the general public, when it hits ( slowly or suddenly,) and therefor I feel civil unrest may be a real possibility, at least to a certain degree. I sincerely hope I am mistaken here. In Canada at least, I believe the vast majority does not see this coming, and most people I know, think we will do much better than the States if the economy tanks. Some even think our dollar is backed in gold !! LOL So sad.
I think 5% is a little light. Thank you for sharing this story.
Greg
Sorry Greg, that should read 25% of my savings in physical Gold and Silver at the moment, not 5.
Now you’re talking.
Greg
Canadians may not be as insulated from “bankers” issues as they think. I think we are more or less joined at the hip on that front. Where we differ is likely in our resourcefulness as a whole. And I think we attract more Asian capital on a per capital bases. Thus we may be better equipped to network as a community. The old saying holds true that you can’t fight city hall. So taking matters into our own hands is the way through in my opinion.Yes, aquiring gold and silver makes sense. But we also need strong networks of self help organizations. These can take the form of neighbourhood watch groups to local land owners organizations. Land can be shared for gardens.Free energy development groups could be set up. This morning I read about a new app which would alert friends and neighbours when a crisis occurs. The answer to big goverment is go small.Support your local businesses is important.
By the way, HST is Harmonized Sales Tax here in Canada. It’s a combination of provincial and federal sales taxes on everything you buy except food, and runs about 13% depending on your province. The country and the provinces split the take between them. Cheaper and easier to collect that way.
Greg
I thoroughly enjoyed your interview with Doug Casey. The illustration of QE as a fire hose couldn’t have been an better. Greg let me brief and straight forward. The world banking system is ripe with corruption on an unprecedented level by the Banking Cartel and the Chinese and Russians and the BRIC nations have no other choice but to collapse it and reset it using the Gold backed Yuan. According to my sources the exchange platforms, and currency swap settlement agreements are moving along at an accelerated pace. The Chinese know we are going to default on our loans. That’s why they are moving so quickly to set up this new exchange system. At the last G20 meeting President Obama was told to sit down and be quite by the Chinese delegate, because the U.S. doesn’t produce anything but printed money. He and the other U.S. delegates got up and left the meeting after being scolded like a child. You didn’t see that on MSNBC did you? Greg like I said before, our economic fate is no longer in our hands. It will be decided by the people who have bought this country, lock, stock and barrel. And from where I’m sitting, it will only be months not years before they are here to collect.
Jerry,
All you can do is brace and prepare for the crash landing.
Greg
Supposedly a Chinese diplomat was invited to the Bilderburg meeting last year, and was “promised” there that the yuan would be the next world reserve currency, starting in 2016.
Jerry
I would love to be able to witness the Chinese delegate putting Obama in his place. And no we probably wouldn’t hear about this especially from the US MSM.
The broadcast mega-corporations have to retain their licenses so anything like this goes largely unreported. The Obama regime acts like a spoilt brat that is in the process of having its favourite toy taken away from it. That toy is the reserve status of the US$ and believe me it IS being taken away! We can no doubt expect worsening childish behaviour to continue mixed with more hypocrisy [if that is possible], plus diplomatic blundering, turning to outright naked aggression as they are exposed by the world at large.
It is quite scary to think that morally bankrupt and incompetent as Obama can be placed in the position of being the most powerful single person on earth.
oops pushed a wrong button –
Correction
– It is quite scary to think that a person as morally bankrupt and incompetent as Obama can be placed in the position of being the most powerful single person on earth. With this office bestowed on him and with his right to create executive orders he can wreck havoc on the entire globe.
You really do have to question a governmental model that can give this sort of power to a complete pratt.
Keep your posts coming Jerry.
Cheers
Col
PS Does anyone want to buy a beef farm in lil old NZ – I would like to cash up , eliminate all debt, and invest whats left in PMs.
I will keep my .270 rifle plus a few angus cattle and grow a big vege garden.
Hi,
To whom the US government need to repay $17 trillion debt?
Regards,
Subramaniyan
the $17 trillion is the operating budget deficit. The deficit is incurred when tax receipts exceed government expenditures. In order to fund the difference the government issues bonds.
Foreigners hold about one half of the outstanding bonds and the Federal Reserve owns about 20-30% (i’ll try to get a link to a chart showing who owns what).
Recently the Fed has been buying 70% of the newly issued 10 year notes as Russia and China have stopped buying them, choosing to diversify their reserves into gold.
correction: ” The deficit is incurred when tax receipts exceed government expenditures”
should read:
“The deficit is incurred when government expenditures exceed tax receipts.”
Subramaniyan. Great question ! In short the U.S. don’t have to pay anyone back. They can print dollars for as long as the world accepts them as money. So , at some point it becomes a creditability issue. That is what the fear is. If the U.S. loses its creditability it looses its standing as a useful world exchange of currency. This is why it is hard to predict when a collapse will happen. However on this current path a collapse is unavoidable. Hope this helps.
Sub
Two fold answer. Federal Reserve Bank, foreign countries like China. 3.2 Trillion.
Jerry. what do you think japan will do? seeing they own the second mortgage on the US dollar. China has said the are willing to forfeit the dollar, but japan can’t disconnect from the fake dollar without the risk of collapse. Will japan become a state of China without a fight? Will they work out a agreement ? I think japan will be the final nail in the coffin of the dollar. How ever it falls.
Trim nail
JC
Good question. I know several Japanese investors, and they don’t care for the Chinese all that much. But they may be forced to knuckle under to the Chinese whether they like it or not with the dollar decline. My bigger fear is if they are forced into a corner, they may go to war like WWII.
Thank You Doug and Greg for talking about this …. the MSM refuses to even talk about our unsustainable debt …. I consider us already in default since we have not even been paying down the principal and the interest will over come the US budget in a few years if the dollar lasts that long ……
4 step government operating procedure:
Break citizens legs.
Playact the role of physician making them useless.
Throw citizens out on the streets when they can’t work.
Incarcerate or murder citizens when they protest.
The statement, ‘…there is no way out of this mess…’ is true. The best people can do to get ready for the troubled days to come is to ‘ease’ out of the current system and ‘ease’ into another. By ‘ease’, I am meaning don’t panic. Irrational decisions are made when people panic. Each month do something in your favor such as debt reduction. Or, buy garden supplies, clothing, whatever necessary. I don’t want any debt.
To the elite war is a more preferable way of rebalancing the sheet because they can hide behind the confusion.
I have no confidence that the Gov. would ever rebalance overtly.
Anyone can buy silver at it’s current price.
Buying silver and watching and waiting before pulling the trigger on my 401k.
Can someone please explain why I don’t need any debt? It is a very lucerative way to make money,especially in the real estate end of it. As long as a person has his home debt free, then I see no reason not to owe on everything else. Of course, I’m no genius either. That’s why I come here to reap others ideas.
Hi Greg! I agree with everything that Mr. Casey said. Even though I have taken some of my retirement money and bought silver, I am loathe to take a really big chunk of it to buy more precious metals. I seem to have a split personality. I’m suffering from normalcy bias! Besides, all these guys giving this advice on the internet are always selling something at the end of their presentation. That is not to assume that what they are saying is not true. Sometimes I think we are screwed either way. I see the government as a swarm of locusts ready to take anything that we have of value away from us whether it be gold or silver or you name it. It will be our patriotic duty to help save the nation! Either way I think we all end up penniless. Maybe I’m just in a down mood today….
Please don’t make an analogy between the government and locusts… I had a really bad dream several years ago about A huge swarm (haboob big) of locusts coming and eating every green thing – leaving only leafless trees and dirt behind. It was much more frightening than it sounds, and when you mentioned the government being locusts, that is exactly what I thought of! Gives me the shivers…
Ann I had a really bad dream the government was trying to take my bible, I tripped over a stump in my dream, and dropped the scriptures, as I watched the pages fold over. Oligarchy rules the earth , and always have.
Silver, gold and platinum have never been worth zero. However, paper money has continually drop in value to zero through out history.
You know, to hear an interview like this, one that is so blunt and honest about the state of affairs and compare it to what is broadcast over all the usual outlets for news is to see plain as day how desperately we are being lied to by our government and how desperate most of us are to believe those same cardboard lies. If it were not for the fact that this probably ends with 300+ million Americans succumbing to disease, violence and scarcity of resources I’d say it is all quite funny.
You are right to be reluctant to touch your 401k.
I buy silver weekly with what money I have that is disposible.
Why give the Government a great windfall on your hard earned investment until
you can be 100% sure that the signs of confiscation are near.
I think about this daily and hope to stay on the front end of that moment when I reach my tipping point.
At the same time it will be a very difficult decision if it come to that.
Hey Greg, is there anyone out there to interview who would sanely talk about those warning signs that would be major red flags for us little guys who stand to lose everything they have worked for ?
Eddie,
Problem is that only the elite will know when a confiscation is coming. We will all wake up some Monday morning to find that our funds are on lockdown and then it will be too late. I agree that many commentators “talk their book”, and investment counselors don’t make a cent on gold or silver purchases, so they are likely to advise against it also. But, there ARE people with integrity trying to warn us too. Concerning your 401, just look at the facts….I don’t think John Williams at Shadowstats.com has any skin in the game…..and make your best call. Better to pay the tax now than risk losing it all seems prudent to me.
Check out Alisdair Macleod’s interview at http://sgtreport.com/
I am so frustrated right now because our financial advisor knows exactly where we are coming from because he believes the same. We were in the process of getting our money out of our 403b and suddenly they tell us we cannot. We can only take 20% of it and only when we start receiving our retirement annuity. Now we are at retirement age so we can do that, but we want all of it not just 20%. Anyone have any ideas for us?
You should still be able to roll it over to an IRA. Once it is inside the IRA you will be able to do with it as you please. When you do the rollover make sure it is to another custodian. I would recommend Fidelity, as I have used them and never had an issue getting money from or into accounts.
Aheinusanus,
I am sorry to disagree, but I would not recommend Fidelity. I would recommend Edward Jones. It is one of the strongest brokerages out there with very little derivative exposure and much higher capital reserves than Fidelity. I have zero business relationship with Edward Jones and have no ax to grind against Fidelity.
Greg
By the time you are aware that your 401K is going to be confiscated, you won’t have access to take money out. You see the govt buying its own debt. If that isnt enough of a warning sign, I am unsure that God’s hand writing on your wall would be enough for you.
Peace be for you G 500. Love your comments.
Look forward to more from you.
Greg,
I keep hearing what Dimitri Orlov said about leaving US/West and going to a place whose currency is not so tied to US dollar. Countries in South America come to mind.
When the direness of this situation becomes obvious to all, whats going to happen when US over-educated youth, the skilled ones, and talented people decide to leave.
Do you forsee a giant sucking sound of talent, resources leaving the country? What would be point of staying, so someone who is young stuck in a dead country for the next 20 years? What is the point of that.
Do forsee other countries “courting” the best and brightest away from this nation? Orlov sees a mass exit, and he recommends it.
We could see a an exit of one maybe two generations. There was a great article from the show “On Point” ( yes I realize they are left center, but the host Ashbrook has repeatedly emphasized their is no real recovery and has argued that point with Obama appointees on this topic)…. that the Puerto Rican economy is in shambles and data shows that people leaving that place are young and old!! This seems to come as a shock to all these “analysts”.
REAL WORLD UPDATE: I work with a few property and casulaty insurance companies and have a few contacts/friends in about 6 major cities in South and Southwest. I have heard from all that:
1) new construction seems to be drying up all these places
2) much of the immigrant labor is leaving these places
I realize its not scientific study but it seems ominous to me…
Thanks
Wddeni,
All good questions and I don’t have the answers.
Greg
From Forbes yesterday
Record number of Americans Renouncing their Citizenship
http://www.forbes.com/sites/robertwood/2014/05/03/americans-are-renouncing-citizenship-at-record-pace-and-many-arent-even-counted/
Thanks for that article post SMA, I saw something I suspected…That many are leaving and just not reporting anything WHY SHOULD YOU !!. I am convinced that they are getting to the point of the left hand not knowing what the right hand is doing. If someone leaves I would tell them to keep their mouths shut!!
Wddeni
Don’t be fooled. When the crash comes all other economies will get wacked by the backlash no matter where they are located. Like Greg says brace yourself. This has never happened before in recorded history so no one really knows. In my world I don’t trust oligarchs that have nukes in their hands. Who knows what they will do when they get desperate?
Jerry,
I understand completely, but as we speak BRICS is rushing to set up their own IMF bank, trade agreements, currency exchanges etc…all of this is backe d by commodities, manufacturing and currencies that have been stableized with massive amounts of gold importation.
Remember BRICS essentially has 4+ billion people that will be using it.
To me it means it will handle this much better than the US floundering and demanding a dollar backed world. Their transition will be smoother, faster and less bumpy.
And as other countries rush to self preservation, they will embrace this new form of payment. Just a thought…
wddeni, what country would you go to? the rest of the world is a financial mess as well. stay here and help fix the USA and don’t let the nut jobs run you out….
Thanks Chip, I know. I am torn. I see that many of Greg’s guest are broadcasting from foreign locales. IT makes me wonder. I would prefer to just buy a small farm somewhere and try that. But to get crops going and all the rest…I just don’t know.
Wddeni
We are in for a struggle for awhile , but in the end “good men” will come forth and the Constitution will survive. I have it by a good authority that’s how its going to work out. But in the meantime its going to get real ugly.
Obama telling a joke at the White Press dinner the other night.
(Obama) When I think about the economy, it reminds me of what the farmer said to the tater, I’ll cut you up, plant you, and dig you later.
( Press ) Ha…..Ha…….Ha…….Ha………..why its sheer genius……Ha…….Ha…….
That about sums it up.
Greg……. I like Doug Casey. He talks in plain language everyone can understand.
Sylvia, I think the same. Thank you.
Greg
No doubt about it, there will be a great default on the debt. The question here is twofold and maybe threefold.
1. Who actually owes the debt?
2. Will the criminals who have taken over the American financial system use the property of American citizens as repayment of the debt?
3. Will they declare all savings left in all banks to be public/government property as was done in Australia?
Money default is coming one way or the other because the rest of the world will no longer accept cash and credit IOU’s in dollar denomination. Now if the criminals in DC were to promise the Chinese that they could have all of the gas wells in Colorado, the Bundy Ranch and a few hundred thousand other American holdings that are already in Chinese hands, then I’m sure they are willing to do some horse trading on that note; especially when you throw in a few million feminists who have been living selfishly and high on the hog for longer than women any in history. These American feminists will now become mistresses to all those Chinese boys that didn’t have enough women to go around in China. Personally, if I were one of the Chinese I think I would stick with taking American gas wells and the properties as debt repayment and leave the American women to some other chore that they are qualified to do, you know, like watching TV, going to parties or saying nasty things about men.
It was/is only dormant superannuation accounts that are confiscated in Australia and then only after a certain prescribed period of non activity. Government confiscation of capital is likely to ramp up after the imminent budget and more to come inevitably as the system sub acutely deteriorates. I get blank stares when I mention gold investment , people here also have no idea. Mr Casey is always very wise.
WAKEUP,the PLAN is to force a constitutional convention,WHERE every RIGHT you had under the OLD CONSTITUTION will be GONE,and you will be under the UN,and their military forces,STRIPPED of everything,including your right to own LAND or personal property,IT WILL ALL BE TAKEN,yea, your right it WILL CAUSE A CIVIL WAR,and thats what they really want,MARTIAL LAW,with the UN IN CHARGE,YOU BETTER be getting ready,we all know this won’t fly with anyone,…..FOOD,WATER,AND MEDICAL SUPPLIES,and ALL THE AMMO YOU CAN GET,or your going to a FEMA DEATH CAMP,to BE KILLED…….AND REMEMBER “NO MARK OF THE BEAST” .no tatoos,NO chips in your hand or head,no government ID’s with a chip,you don’t want to wind up in hell if your killed do you?
I dont have tattoos but I hardly think a tattoo is going to keep you out of heaven
We just need to comply with the constitution we have. The risk of any change is far too great.
Casey presumes that this is the result of stupid happenstance… No, it has been deliberate.
I agree with you, the guys pulling the strings cannot be so stupid as to not understand by now what it is they are doing in regard to monetary policy, the way the justice dept is run, immigration, and foreign policy. To give people who openly deceive the way they do the benefit of the doubt is to court real disaster. At the very least we have a situation where some people have created for themselves positions where they can profit greatly from chaos and misery and do what it is they can to strengthen their positions as time goes on.
They are not stupid but they are following theories that are flawed. Those that know exactly what is happening are just trying to delay the crash. You don’t need some grand conspiracy theory to explain this mess. It is simply a result of having corrupt, greedy and power hungry politicians not caring about anything other than staying in office.
It is really that simple.
Yes Wall Street and Banks and the Fed caused a lot of damage but were only able to do so because the politicians were for sale.
The Fed prints and buys bonds and manipulates interest rates, but it is because Congress allows them to. They could get rid of the Fed with a single piece of legislation. They will not do it because they do not want the responsibility of managing money creation.
Welcome to the giant sucking sound!
Payment in SDRs by the IMF is nothing new. It goes back for years. This time most press reports stated it in SDRs as well as in U.S. dollars.
As a matter of face, all contracts from the IMF are calculated in SDRs. The fear mongers put out articles like it was something new. It shows either they are unaware or intentionally attempting to mislead
Greg-
Excellent catch on the bailout for Ukraine being in SDR’s. Not too many folks got that. I pretty much agree with Doug with the exception of buying precious metals first. I believe you should prioritize your needs first based on your real world needs.
Water- water storage in new food grade barrels,
Food- start with keeping a ledger on what you use and then double those purchases to build a deep pantry. Then step up into a 3 month supply of dehydrated and freeze dried foods. Canned meats, cheeses and butter. Learn to cook, bake and can,
Shelter- Get your house in order. Make sure that you have a safe place to live if you live in an area that is primarily urban. Make sure that you have materials on hand to affect repairs on your major systems,
Sanitation- Don’t be a statistic. Take Greg’s advice and buy extra TP. Having some ways of dealing with the end result of digestion is very important. Even if it’s a bucket and some of the blue porta-potty fluid if your toilets don’t work. Look up WAG bags,
Health- 3 month supply of your meds, first aid kits, rubbing alcohol, hydrogen peroxide, anti-diahretics and the skill to use them,
Energy- Your car is a generator. You can hook up an inverter(800W to 1000Watt) to your battery, while your car is running, and use extension cords to run to power up lights and charge your phone batteries. Step up into a portable generator with a fuel storage system. Store fuel in fuel safe cans and rotate them by using then in your vehicle,
Finances- Make sure you have enough cash on hand to handle at least a month’s worth of bills. Try and build up enough money in your savings account to handle three month’s of bills. Then acquire silver and gold. 10% of your of your wealth is a great start.
Seems like a lot to do, but finding like-minded people to team up with will really speed up the time to acquire some of these items. It’s as simple as asking, “what would you do if a tornado hit your town and you lost systems of support?”
I hope your 3 month optimism is correct!!!! I know you didn’t intend for your wonderful
list to be complete, but I thought I would add some stuff…
Some of the info below may seem extreme, but I think planning for the worst is prudent.
It’s less expensive to buy a dehydrator and dry your own veges, etc That way you can buy in bulk and get better prices.
Stock up on basics (must have) first: dried eggs, butter, dry milk, beans, coffee, sugar, soap, tooth paste, wind-up radio with cb/ssb/weather. Buy 50 pound sack of bread flour, some yeast and make your own bread, cakes, etc. (You oughta taste my home made bread….it’s easy and only takes 1 hr/week).
Get a roll of black plastic to be used to block light leaving your house via the windows, etc. If worse comes to worse and you have marauding gangs, you don’t want to advertise you are there, or which room you are in.
Don’t forget heirloom seeds and soil, compost, etc. save plastic bags.,,,.use for trash or grow pots if you are urban.
Small solar system to charge batteries, phones if they still work, led emergency light. Search Youtube for “small solar system”.
Here’s a trick: Buy a couple quart empty paint cans at the big box store. De-core a roll of TP and stuff it inside the can. Then fill the can with regular rubbing alcohol to the brim. Place the lid on the can and store. You can light the alcohol with a match and have light or heat for quite a bit of time. I wish I had had such a can of heat when I had car trouble at night in the snowy mountains of Colorado and almost literally froze to death.
I would not save any money in a savings account in a bank! Figure out how you will cook your food. Campers use small cooking devices, or a hole in the ground with a grate, and you can make an oven and use the sun if need be.
Calgirl-
Nice followup! My intention was to get new folks started for sure. If someone can get the discipline to stay focused for 3 months, getting to a year or more is much easier. If anything just starting a conversation about what you would do if a tornado hit is something everyone can talk about.
So,
I can’t get to 401k tell leave job. Should I seek new job where I can access it so can move it to other things?
Blamb,
Only if you know for 100% sure you can get another stable job for equal or better pay.
Greg
Blamb61,
Only if you are 100% sure you can get another stable job for equal or better pay.
Greg
Buy some land with credit against the 401k . Learn to grow food, and learn to make water by plume banks.
Good article on SDRs here. In the comments section you can note that someone also made the same mistake on payment in SDRs only.
http://philosophyofmetrics.com/2014/05/03/the-last-american-alamo/
Just to give you an idea of what the job situation is here in Greensboro, NC, I went on a job interview last Friday. They (YMCA) were hiring for three Summer camp counselor positions for a 6 week period of time. Maximum hours could not exceed 18 per week. The pay was minimum wage. Fifteen people showed up for an interview. For only 3 positions. I’ve been unemployed most recently for one year. Prior to that, about two years prior, I was unemployed for two years. I’m not sure how much longer this country can last given this “6.3%” unemployment rate.
E Sutton. I work for the Y in Nashville. Very few get more then 32 hours. I get 4 hours on Sunday morning. Strange thing is some have ask me to let them know if I decide to quit. 25.00 a week helps pay my property taxes.
Hello Greg, good interview! Do you plan to have Jim Willie on anytime soon? If so may I make a suggestion. I know you reel in Jim when he starts discussing the powers who control the politicians and financiers but could you let him delve into these ruling families that are obviously at war now?
Yes, soon Ken. Very soon.
Greg
Oh, I forgot to mention in the above comment, I hold a Masters Degree and graduated from top tier universities, Deans List.
I fell into that trap, the over-educated so we won’t hire you because you’ll quit as soon as you find something better trap. Every interview it was the same question, “Why do you want this job when you could get so much better?”
I had to start my own business to get out of it. That business helped me network to get in to my current job. I still run my business, but now I use it’s profit to help with my prepping and it’s losses to help lower my tax bill. I also have the piece of mind that I can always fall back on my business if things go sour at my job.
There is nothing like running your own business. I started mine with $5,000 and a lot of courage, and grew it to over $30,000 a year just doing it part-time. But more than the money, I gained confidence in myself and my abilities. I became a self-made man versus some schlep with a job working for someone else who could send my job overseas or bring in an H-1B scab from India to line their own pockets.
If the pensions go insolvent… (not that they aren’t technically insolvent already – I just mean if they stop paying out their monthly checks) due to a stock markey crash, there will be such rioting in the streets as has not been seen before… But, sadly, I really don’t think the average retired Joe cares about whether Obama takes his 401K or pension, as long as the monthly checks keep coming uninterrupted from somewhere…
greg… am a widow..going on 10 years now..anyon e know how to break a marital trust? bANK WONT ALLOW IT//
Linda,
Death certificate? You need local legal help.
Greg
Linda most churches that have a pastor over ten years can fix this for you. Its a political game that preachers know best. Go to the oldest pastor of the biggest church. He will fix it… If you pay your tithes.
Linda, it would be a honor to ask you to pray for me. Even from a distance I KNOW GOD hears your prayers. As we all pray for you…
http://www.openbible.info/topics/god_caring_for_widows
Greg. Widows got placed at the top f my list.
I’ve been listening to Doug Casey for awhile. Lots of good stuff. I believe he has it quite right. The fed. gov. is defaulting already. All of this money printing is debasing our currency, a form of default! We are paying China and Japan (among many others)
back with weakened dollars, and they don’t like it. They’ve stopped buying treasury bonds for this reason and they will soon be selling our bonds for even more gold. The gold backed yuan will be introduced in the near future to replace the US dollar as the worlds reserve currency. That’s when the hyperinflation hits because the US dollar will be toxic and devalued by as much as 80%. As far as SDR’s are concerned, Doug said that it will be valued against a “basket” of currencies. Well all world currencies are fiat undergoing mass debasement, same as the US dollar. Think of it as a race to the bottom. The SDR will be just as toxic as anything else!! Pay off your debts, collect silver and gold, buy tons of non-perishable foods, sell all dollar denominated paper assets, reduce your tax liability (if possible),get out of the stock market, guns and ammo, learn a trade, collect water from your downspouts, grow a fruits and vegetable garden and pay attention by watching Greg Hunter.
Back in 1908, Jack London (author of Call of the Wild, White Fang) published a fictional book titled “The Iron Heel.” This segment relates to your interview today:
(his main character is addressing Congress)
“I know nothing that I may say can influence you,” he said. “You have no souls to be influenced. You are spineless, flaccid things. You pompously call yourselves Republicans and Democrats. There is no Republican Party. There is no Democratic Party. There are no Republicans nor Democrats in this House. You are lick-spittlers and panderers, the creatures of the Plutocracy. You talk verbosely in antiquated terminology of your love of liberty, and all the while you wear the scarlet livery of the Iron Heel.”
Little did Jack London know that in five short years, these type of people would pass the Federal Reserve Act. Today we understand the results of that Act. So much for fiction becoming fact. (Book can be found here: (free)
http://www.gutenberg.org/files/1164/1164-h/1164-h.htm
Prior to the above book (in 1903), Jack London also published a non-fiction book titled:
“The People of the Abyss.” It’s about the end of empire in England. It fairly describes what is happening here in the U.S. now as a result of banksters’ actions.
The book can be found here: (free)
http://london.sonoma.edu/Writings/PeopleOfTheAbyss/
Keep up the good work, Greg.
It’s our last chance to turn things around. instead of running aground.
Thnx for another great interview, Greg. Regarding where to live, I plan to stick it out here in the U.S., for better or for worse. Let the chips fall where they fall. GLTA.
Snorky,
Me too.
Greg
I agree with just about everything Casey says here, as I do with Peter Schiff and Jim Rogers. Five years into the financial crisis, though, this group just repeats the same general points over and over, like preachers delivering sermons. In contrast, guests like Nomi Prins, Paul Craig Roberts, Jim Willie, Dmitry Orlov, and Jim Rickards consistently offer interesting perspectives and ideas about current developments in the crisis. Greg, all your interviews here are worthy, and I’d encourage you to emphasize guests who fit into the later group.
Just wanted to say that I admire your commitment to educating the public about what is really happening behind the curtain. Your efforts may in the end save a lot of lives and I for one have made numerous moves to prepare for what might be. My one question is why are the 0.1 percenters risking everything?What do they have to gain by bringing everything to collapse? Would love to hear what you or others have to say.
Soros is a 1%er and once wanted to see England’s currency fail because he made a bet that it would. Apparently he made a tidy sum when he won that bet. Too bad for all of those regular Englishmen who lost their shirts in the same deal.
Mr. Casey, you are right! I’ve been watching this problem grow over the last 20+ years and it won’t go away. But what gets me is that I can’t believe the people that do not want to hear any bad news, so maybe that is the solution. Everybody in the world should just not care and every government should just print more money. Wasn’t that some recent VP’s thought? Dick somebody…
“WICKED DEBT FRAUD” The one and ONLY answer to the debt problem is to declare it null and void because of FRAUD! It is fraud because it is mathematically impossible to repay ! It can not be repaid because the interest is never created on the loan and that is fraud ! And fraud voids all ! If we don’t void all out of thin air debt the bankers will own almost EVERYTHING ! And we will be homeless slaves ! They have a license to counterfeit ! Can I counterfeit the money to repay the loan ? Why not ? If we even attempt to repay a impossible debt (All out of thin air debt) all we do is show our ignorance ! The way to fix this mess is so simple a 3rd grader can figure it out ! We void the fraudulent debt! and everyone keeps ALL the items they have so called debt on ! And then we start to use a debt free currency and / or gold and silver ! And then we will have a robust economy like never before — OR WE LET THE BANKERS STEAL EVERYTHING !
I was in about the third grade when the news was talking about the national debt and I asked my dad who do we owe money to and who could possibly be richer than the United States? and where did they get the money? And then my dad took a gulp off his beer and said we owe it to our self ! I said that’s the dumbest thing I ever heard of ! that’s like me borrowing from my right pocket and setting fire to the interest and putting the rest in my left pocket ! This was about 1972 ! But Dad was wrong! We owe it to international Bankers running the biggest Ponzi scheme on earth called The Federal reserve system! And yes it really is this simple ! The bankers have a shoe in on ALL loans they make ! All they have to do is stop lending and then start foreclosing on ALL debts!-meaning they now own everything that has a debt by having a license to counterfeit ! So we” 1″ keep getting fleeced by continuing to pay this fraudulent scheme ! OR” 2 “we declare ALL out of thin air debt NULL AND VOID because of FRAUD ! And we keep everything we have so called debt on! MOST people don’t get this part Every car, boat, house, machine, tool, farm,ect. has already been paid for by the fraudulent paper! So no one looses ! WE sure as hell cant give it to the banksters! (let them steal it) AND IT DOESENT MATTER IF YOU WANT TO REDUCE THE DEBT 99% ITS STILL UNPAYABLE! So when we void the FRAUD This will be the ultimate FRESH start for everyone ! Share this if you want THE solution to the WORLDS problems! If not everything will continue to get worse until we have HONEST DEBT FREE MONEY /and GOLD AND SILVER ! And there is plenty of gold and silver! just Divide the paper money (FRN) by the gold /silver and you have the value of them! NO MATTER WHAT IT COMES TO per OZ ! Then we would be happy to work for SAY A ONE OZ. SILVER COIN A day ! Because a one OZ. silver coin ( REAL MONEY ) will buy what $100 – $200 did before the reset! THINK ABOUT IT! This is what Scripture calls the jubilee ! “WICKED” Debt And the amount and size of the debt has nothing to do with it being mathematically impossible to pay This fraud is so “WICKED” that even a $10 loan is a Ponzi scheme here’s how it works ! I’m the new banks first customer ( CHUMP ) I borrow $10 @ 1% interest I now owe the bank $10.10 but ALL the money in the world is $10 the .10 cents doesn’t exist so some one else has to borrow some so called money and I have to find a way to get .10 cents from them so I can repay my loan ! Now say they borrowed $10 also now I somehow get .10 cents from them to pay my loan back ! But now he is short .20 cents to pay his loan ! so now you can see how a $100,000. house that will cost you $ 265,000 to pay off because you have to pay $165,000 in interest is a GIGANTIC PONZI SCHEME ! Now multiply that by millions of people in the U.S. and you can see how It turned into the monster debt we see today ! And for the loans that do get repaid multiple people have to default on there loans for you to pay off your loan ! NOW you can understand why we have a rapidly growing homeless problem ! Now that is a WICKED debt money system that we must declare Void !
Dear Greg.
Are you going to have Karen Hudes back? I now see she is saying that there is a separate species of humans hiding in the Vatican controlling the World. These are the “Cone-heads” as depicted in the ancient Egyptian drawings.
Has she completely flipped or is she worth interviewing again?
George,
I don’t know. I never talked to her about aliens.
Greg
Greg
it looks like the jew haters are main stream these days. Notice how this evil moslem is working the “holocaust didnt really happen” myth into the minds of children.
http://losangeles.cbslocal.com/2014/05/05/school-district-officials-reportedly-threatened-over-holocaust-debate-assignment/
RIALTO (CBSLA.com) — School district officials in Rialto have received death threats in connection to a class assignment instructing students to debate the veracity of the Holocaust, according to reports Monday.
Rialto Unified School District officials first responded last week to reports of the assignment, which asked students to compose a written debate over whether the Holocaust was “merely a political scheme created to influence public emotion and gain.”
The controversial question in the assignment read: “…write an argumentative essay, based upon cited textual evidence, in which you explain whether or not you believe this was an actual event in history or merely a political scheme created to influence public emotion and gain wealth…”
The district initially defended the eighth-grade assignment – which was one part of an 18-piece essay – as an exercise to help students “evaluate the quality of evidence made by advocates or opponents of an issue.”
Rialto Police Captain Randy De Anda told KCAL 9′s Tom Wait the school district’s interim superintendent, Mohammed Z. Islam, received death threats in connection with the assignment. A district spokesperson was also threatened, De Anda said.
Officers were seen Monday standing guard outside district headquarters in response to the reported threats.
“We do not know who the suspect is at this time,” De Anda said. “However we do have some leads to follow up on.”
District officials – who say they have not received any complaints from parents about the project – are now revising the assignment, admitting it was a mistake, Wait reported.
These evil doers need to be flogged in public and then stoned…with really big stones
Greg
is there any wonder why the Israelites are sure that Obama is not their friend?
http://www.tomgrossmedia.com/mideastdispatches/archives/001448.html
* There is also a lighter, more fun dispatch this weekend here: A nice moment in the afternoon.
* You can see these and other items that are not in these dispatches if you “like” this page: www.facebook.com/TomGrossMedia.
Regarding item 7 below, Belgium riot police used water cannon yesterday to disperse the crowds gathered for the anti-Semitic summit.
And among those linking to this dispatch are former Pentagon official Michel Rubin who kindly adds a nice compliment here.
1. State Department, French embassy “partner” anti-Semitic book fair
2. Jordan’s ex-foreign minister approvingly quotes Mein Kampf
3. Jewish man who urged Muslims to kill Jews, found guilty
4. Murder of 20-year-old believed to be a hate crime
5. Neo-Nazis honor Ukrainian SS on Holocaust Memorial Day
6. Hungarian PM defends revisionist World War II monument
7. Brussels mayor urges ban on “European Anti-Semite summit” due to be held today
8. British MP resigns after “bloody Jew” remark
9. “Anti-Semitic” Pink Floyd stars again call on Rolling Stones to boycott Israel
10. “Moderate” Rouhani bans WhatsApp: owned by “American Zionist Zuckerberg”
11. “Kill Jews” Spanish town name change vote set for May 25
12. Novelist Alice Walker says she “doesn’t know” if Al-Qaeda was behind 9/11 attacks
[All notes below by Tom Gross]Below are a number of blatantly anti-Semitic news developments from recent days.
As nasty as these are, most people can easily recognize them for what they are: hateful anti-Semitic lies. Personally I find more dangerous the subtle, often hidden anti-Semitism that is sometimes found in, for example, the supposedly neutral reports of respectable news outlets like The Guardian, New York Times and BBC. Uninformed readers and viewers will not be aware they are being misled about Jews or the Jewish state by these journalists and commentators.
***
The U.S. State Department is listed as a “cultural partner” of the 24th Abu Dhabi International Book Fair, which is currently being held (from April 30 to May 5). Among the anti-Semitic publications on display at the fair (in both English and Arabic) – books which paved the way for The Holocaust – are “The International Jew,” “Mein Kampf” and “The Protocols of the Learned Elders of Zion”.
“The Protocols of the Learned Elders of Zion” is now reported to be the second most widely published book in the Arab world. It promotes anti-Semitic conspiracy theories that Jews are planning global domination.
Then other “cultural partners” for this year’s Abu Dhabi International Book Fair include the French government TV channel France 24, National Geographic magazine, and the French Embassy. (There are, it should be noted, many other titles on display at the book fair, which are not anti-Semitic or have nothing to do with Jews.)
Several senior diplomats at the U.S. State Department, as well as a number of French Foreign Ministry employees (not those stationed in Abu Dhabi) subscribe to this website email list and one would hope they would take steps to have the Book Fair’s organizers remove the anti-Semitic titles.
Similar anti-Semitic literature appeared at the 2014 Casablanca Book Fair and in the recent past at the Frankfurt Book Fair. For more, see this dispatch:
Iran sells hate literature at Frankfurt Book Fair, breaking German laws against anti-Semitism (Oct. 25, 2005)
In a rare move, Israel’s foreign ministry has summoned the Jordanian ambassador to Israel to protest a blatantly anti-Semitic article published in the Jordan Times by a former Jordanian foreign minister.
The former foreign minister, Kamel Abu Jaber, quoted from Mein Kampf to support his vehemently anti-Israel arguments, which appeared as Israel commemorated Holocaust Remembrance Day last Monday.
Jaber, who is currently director of the Royal Institute for Interfaith Studies, also mixed various other anti-Semitic myths into his article.
And then there are the occasional Jewish anti-Semites too:
Joseph Leonard Cohen, a Jewish man from New Jersey, who converted to Islam and changed his name to Yousef al-Khattab, has been found guilty after he encouraged violent attacks against Jews.
Cohen / al-Khattab ran RevolutionMuslim.com, an online hate site where he preached radical Islamist ideology, and shared training videos over YouTube with millions of Muslims around the world, and called for death threats against Jews.
Cohen / al-Khattab, who was raised in New Jersey and Brooklyn, studied at an Orthodox yeshiva in Jerusalem in his early 20s, and returned to the U.S. in 2000, before converting to Islam after the 9/11 attacks.
In 2007, al-Khattab and a recent Columbia University graduate Jesse Morton, now known as Younes Abdullah Mohammed, launched the website RevolutionMuslim.
In 2009, al-Khattab posted a video urging viewers to seek out Jews in the U.S. and “deal with them directly in their homes.” He posted a photo of a synagogue in Brooklyn, complete with directions and a note that it tended to be full at prayer time.
According to American law enforcement officials, terrorists using and gaining encouragement from al-Khattab’s website include: “Jihad Jane,” from Philadelphia, arrested in 2009 for plotting to kill a cartoonist who had drawn Prophet Muhammad; blogger Zachary Chesser, from Virginia, arrested while boarding a flight to Somalia where he was to join al-Shabab, a group linked to al-Qaeda; and Samir Khan, from North Carolina, who edited an al-Qaeda magazine and was killed by a drone while riding in the same vehicle as radical American cleric Anwar al-Awlaki in Yemen.
http://www.thegatewaypundit.com/2014/05/obama-state-department-we-need-another-intifada-to-force-israel-into-peace-negotiations/
Obama State Department: ‘We Need Another Intifada” to Force Israel Into Peace Negotiations
Greg
http://palwatch.org/main.aspx?fi=157&doc_id=11384Children were instructed to shoot “all the Jews,” on the weekly Hamas children’s programTomorrow’s Pioneers this week. The young Hamas TV host Rawan talks to a young girl in the studio named Tulin, who tells her she wants to be a police officer when she grows up. The child host directs her to the conclusion that as a police officer she would shoot “all the Jews.”
Child host (Rawan): “Tulin, why do you want to be a police officer? Like who?”
Girl (Tulin): “Like my uncle.” …
Child host: “OK, so what does a policeman do?”
Nahul (adult in giant bee costume): “He catches thieves, and people who make trouble.”
Child host: “And shoots Jews. Right?”
Girl: “Yes.”
Child host: “You want to be like him?”
[Girl nods]
Child host: “Allah willing, when you grow up.”
Girl: “So that I can shoot Jews.”
[Nahul the bee claps his hands]
Child host: “All the Jews? All of them?”
Girl: “Yes.”
Child host: “Good.”
Galaxy,
No justifications no excuses i want this to be clear in your mind and the audience,
Maybe that child had his father, may be brother, killed in front of his eyes? who knows?
Maybe he had his sisters were raped by the settlers in front of his eyes? who knows?
Maybe he is sick and tired of waiting 4 hours in a humiliating checking point between two streets that should not been taking him more than 5 minutes? who knows?
May be he is sick and tired of being besieged in a big prison has the most population in world history for years called Gaza? who knows?
May be he is losing his innocence because of inhumanity that pushed him that way? Who knows?
MAY BE IF YOU LIVED HIS CHILDHOOD THERE, YOU WOULD OF DONE AND SAID WORSE? WHO KNOWS?
AGAIN AM OBSERVING AND AM NOT JUSTIFYING ANY THING!
This is why I have a hard time following Jesus some days… Because it’s hard to love my enemies and to do good to those who persecute me, and I don’t even live in a war torn area like that. Those are a child’s responses to leading questions, and yes, Mohammad, unfortunately these children may have personal reasons to hate “Jews”. We all need to pray for them and for all of the children of the world; that they grow up to find God’s love and to work His will for grace (undeserved favor) to all peoples, so that the madness of hate Between God’s people can end.
Worse Anne, they have been fallen preys to their manipulating leaders that burns them in their “holy” cause same way the other side burns jews in their “holy” war only to the benefit of the third bastard that is playing both sides.
Galaxy 500. Explain your comments. This is crazy. do not kill anyone, outside of self defense.
Thanks for having Casey on. He adds another perspective. Off to vote in the primary. Sorry for all the posts. I just couldn’t believe the hate that embedded everywhere.
500,
Thank you for positing everything!!!
Greg
More evidence that the dollar is in free fall. Merkel may have paid lip service to Obama, but back home a different story was unfolding.
http://www.dw.de/frankfurt-issues-first-bond-backed-by-chinese-currency/a-17605819
Tick tock people. The time is getting short.
IMF. What IMF ?
http://voiceofrussia.com/news/2014_05_01/BRICS-creating-parallel-Monetary-Fund-disillusioned-with-IMF-and-World-Bank-expert-0502/
Are you getting it yet? The world is moving on without the dollar as reserve currency. Gerald Celente may have been right on his last prediction of 06/30/14
Greg,
This interview is an eye opener thanks for it.
I would say if you borrow (US), you have to put a collateral to the bank (CHINA) so if you default they will collect your asset (LAND, WATER, AGRICULTURE, PEOPLE).
collection of the COLLATERAL in the western part of the country has begun, and it is moving east bound.
Any way you look at it is no good.
Hello Greg,
Great interview, as usual. Previously, I posted a question (as did some others) asking if it is prudent to take money out of a TBTF bank and put it in a credit union. Would your money be safer because credit unions have a reputation of being somewhat more conservative in risk? Well, I have a few facts that don’t give me that warm, fuzzy feeling. The credit unions (both Fed and state) are not insured under FDIC, but another US governmental agency known as NCUA (National Credit Union Administration). The National Credit Union Share Insurance Fund (NCUSIF) insures member’s deposits up to $250,000 as mandated by Dodd-Frank in 2010. Here’s the scary part, ” The NCUSIF maintains at or near 1.30 percent of federally insured credit union deposits. By law, federally insured credit unions maintain one percent of their deposits in the NCUSIF and the NCUA Board can levy a premium if necessary” according to the NCUA website. So the coverage ratio is no better at a credit union than at a bank. As a matter of fact, there is a video on the website by Debbie Matz, board chairman of NCUA, who reports that in the last financial crisis, most credit unions survived but 102 did not. These failed institutions appeared healthy on the books but did not have enough capital to account for their risk. The shared insurance fund had to pay out over 3/4 OF A BILLION DOLLARS to cover these 102 cu’s. So what percentage of all credit unions is 102? In 2007, there were 5036 (federal) + 3065 (state) cu’s for total of 8101. In 2008, there were 4847 (fed) + 2959 (state) to equal 7806. (http://www.ncua.gov/Legal/Documents/Reports/CUStat2010.pdf ) So 102 is just a fraction of the total number of cu’s? In a widespread meltdown, it seems your money is no safer in a credit union than in a bank.
JBN,
Credit unions are insured under the FDIC. yes smaller institutions may be safer but you have to check them” Here’s a link: http://www.thestreet.com/bank-safety/index.html If you are worrying about only cash deposits you need to broaden your scope. Everyone I talk to is concerned with devaluation of the U.S. Dollar. You need to look at other core assets such as physical precious metals. That’s my humble opinion.
Greg
Thanks Greg!
Are you sure about the FDIC? I called a couple of cu’s (Allegacy & Truliant Federal cu’s) and both said they were insured under NCUA. I went to the link you provided (Thanks!) but that is only for banks, no cu’s. The take-away from my post is that your cash is NOT any more secure in a bank than a credit union which is I think the same thing you have been saying. I’m with you on the hard assets…I have about 20% of my liquid assets in gold and silver coins (all purchased with cash…no trace). I also have a stash of food, water, etc. We (the little people with no power) appreciate SO MUCH the information you provide on your site!
JBN,
JBN,
I stand corrected. The Federal Reserve does not regulate credit unions, but does make rules for things such as consumer protection that all financial institutions have to follow. Credit unions also can borrow money form the discount window in special cases. That said, your main concern in the future is the buying power of your money. If there was a nation wide bank holiday you could get locked out from your money for a while. What is going on today has never happened in human history on this scale. You must plan for the most extreme thing you can imagine and hope it doesn’t happen.
Greg
I just (within the last year) sat up and started taking notice of the economy/dollar/global economic situation. It recently dawned on me that China is setting the groundwork (with all the gold it is stockpiling) to displace the dollar as the global reserve currency with their own, gold backed, currency. Goodbye dollar. I’m afraid it’s already too late to stop it.
Kim,
Please take steps to protect you and your family. “Fear not!”
Greg
Greg.
I swore I wasn’t going to post anymore, but this is to big not to. It appears that the other shoe is about to drop. We all knew about the banker deaths, but we didn’t know why. It appears that with the help of the Federal Reserve and elements if our government , that the Chinese have reached an agreement with the IMF to purchase the Banks inside the Federal Reserve giving them complete access to our entire Banking system. According to this article it has been in the planning stage for quite some time.
http://online.wsj.com/news/articles/SB10001424052702304543904577394533978464876
In essence the Chinese are dropping the boom, on a lot of the dirty Banks, and the result is the carnage we have been witnessing. But this is totally a setup for a reset of the world banking system. Keep an eye out as things are about to get a whole lot interesting. Jim Willie time Greg.
Greg. I like the summer months, only those truly awake will seek to find truth. The rest are on the lake. Living up what is left of what was. A free country. Love ya bro.
J.C.
enjoy the moment, we are regretting every second we wasted in Syria before it went belly up!
HUG YOUR BELOVED ONES.
Only if you are 100% sure you can get another stable job for equal or better pay.
Who can be sure of that today greg? should the goal be on a getting a better job or on trying to start your own business? no job is safe.
NM,
I started my own business and being successful is very difficult, which is why I am hesitant to tell someone to quit his job and start a business. That said, you make a some good point.
Greg
Hi Greg, another great interview!! Someone made a comment a few weeks ago and used my name so I have kinda stayed away for a few weeks. I have a ?? I hope someone here can answer, the goons behind the fed collect interest on the national debt, so the bigger the debt the bigger the interest payment on the debt, but how are they being payed, in FRN’s or silver or gold or ??? If it is just FRN’s , and they are the owners of the printing press!!??? But, if they are being payed back interest with gold bars(REAL MONEY!!) then we are in big trouble. They bleed our country of all the real money and jump ship and regular americans are left holding pieces of paper and the real wealth is gone. I know you have read the quote from Thomas Jefferson about “paper is poverty, it is the ghost of money and not true money itself”
Wow Greg,
Your site is so ever growing it is tough to keep up reading comments, I salute you for the exhausting effort you put there to keep up with the site, this post is only to show my gratitude to your work.
God bless!
Thank you Mohammad.
Greg
Doug Casey has become filthy rich by selling doom for decades. The guy was calling for a Depression in 1982. He’s been calling for a catastrophe for many years and has been completely wrong. He’s been giving the same speech for 30 years. He never changes his tune. Look Gold & Silver are going much higher and we will have big inflation. But this guy is a serial con man who has a terrible track record at forecasting. The US is going to be fine in the long run. Go and actually live in third world countries like I have. The idea that you need to move to some 3rd world craphole is totally ridiculous. If you want to live like a peasant then good for you. But to live like a middle class or upper middle class person in these places is not cheap. You have to pay a lot to make it happen. It doesn’t amount to much difference. The US is not going to lose currency reserve status anytime soon and will continue to be the most powerful and prosperous country in our lifetime. Follow this conman and charlatan at your own risk. Just remember he’s had the same tune for 30 years and never changes it. He’s a con artist and a purveyor of doom. Nothing else.
Caseyisaclown,
And you sound like a faceless paid troll with a “destroy the messenger” agenda and zero credibility.
Greg
I have seriously considered a couple S. American countries. I know it will be hell here soon……. But I question Casey’s safety as well. He has established a nice community for the wealthy (I think that’s great)……My thought has been the wealthy will become the main targets as desperate people become more desperate. I understand he has security guards. I believe he will need an army and even then no guarantee they won’t turn on him……Love to hear his response.
Quote “The US is not going to lose currency reserve status anytime soon and will continue to be the most powerful and prosperous country in our lifetime”……….. what is this guy smoking ? Ignorance is bliss, I guess.
What Doug didn’t say, at least in the write-up above, is that the final solution to all debt problems, especially exponential debt, is WAR. Problem is WAR this time around involves nuclear weapons of mass destruction. Where is ground-zero going to be? The United States, Russia, China, etc. The critical benchmark that everyone should keep their eyes upon is the US National Debt, currently at ~$17.5 Trillion: When it crosses the psychological high watermark of $20 Trillion, it is game over for the US. When that occurs, watch out! Because that’s when the sheeple outside the US around the world will finally begin to wake up and “smell the roses” as the expression goes and finally realize that there is not going to be any “happy endings” when it comes to the USD and the UST (the US “Toiletries” formerly known as the US “Treasuries”). The tense situation in Ukraine may or may not be that triggering point. If we make it through 2014, I believe 2015 is it.
So the question that I have always had is this with regards to inflation and how it will happen in this situation.
The banks were sitting on a huge pile of bad property loans. These loans, which eventually went bad, essentially destroyed a huge amount of money they had on their balance sheets. The Fed has now helped the banks repair those balance sheets by buying those bad loans *mortgage backed securities*. How will inflation occur now as it appears that the situation should now just revert to the way it was? Or is it that there are no liabilities against these now so the banks are free to loan that money out at nauseum? Please explain.
SanDiegoMan,
At least $16 trillion liquid USD dollar assets are held outside the country. The money for inflation is there when there is a panic out of the dollar.
Greg
What makes $20 Trillion the magic # ? All told, we owe upwards of $200 Trillion including future entitlements. Add to that almost all cities, states, counties, you name it are near or going bust. Our states are every bit as debt laden as any lowly euro state or third would country. Most of our retirement pensions are busted. Wait till the market falls are try glancing in on their balance sheets……. No, the rest of the world already knows we are slothful, arrogant, debt slaves. The only reason the dollar is still standing is that “Time is not up”……But on that day we will all wake up and ask ourselves, what were we thinking. On that day fear will grip the American sheeple.
US currency will be ‘one’ of the reserves, but not the dominate one. The world cannot just up and throw away dollars. Granted, trying to purchase, lets say oil for dollars, will be a joke. One more thing. If you look deeply into world affairs, most countries are moving away from the U.S. The new and improved world does not include us. We won’t even be a memory…
totally agree relocate outside the US if possible and get sone precious metals
Hi Greg, another reason to buy extra toilet paper and toothpaste and extra food for storage is because when the dollar crashes and the banks are closed, people are going to freak out and rush to the store and buy up everything on the shelves. The grocery stores won’t be able to keep up with the sudden demand. Most people have maybe 3 days of food in the house, but suddenly everyone will be buying 3 weeks or more, whatever they can buy at whatever price the stores are charging (probably double). It’s going to take a few months for everything to settle down. Having extra supplies on hand is great advice to avoid all of this craziness. It’s a great investment. Thanks!
The only way out is to reduce the population which means a large war or kill your own population it looks like they will go that way.
it’s 2017, the dow is near 20,000 and none of what he said has come true
Scott,
YET.
Greg