Every Asset in a Bubble, Except Gold and Silver-Michael Pento

Every Asset in a Bubble, Except Gold and Silver-Michael PentoGreg Hunter’s USAWatchdog.com 

Money manager Michael Pento thinks the Greek debt crisis is small when you consider the enormously leveraged global economy.  Pento contends, “That’s why I consider Greece as more of a distraction.  It’s a small piece to the puzzle.  You look at debt that extends all across the planet, every asset on the planet is in a bubble.  China is in a bubble.  Japan is in a bubble.  Europe is in a bubble.  The United States is in bubble.  That’s not just stocks.  It’s bonds.  It’s real estate.  It’s diamonds.  It’s art.  Look, China fell 7 ½ % overnight because every housewife and widow in China opened up a margin account, and now, they are wiped out.  The market in China is down 18% in the last week alone, and it’s got a lot more to fall.  Who is there to support that?  This is where the rubber meets the road.  Don’t worry because central banks have our backs.  When has that been the case?  A central bank can monetize unlimited amounts of debt and destroy the currency.  It creates money out of thin air at infinitum without any consequences.  When has that ever been the case?  I am telling you right now, if the Federal Reserve doesn’t get off its ass and start raising interest rates, the free market is going to do it for them.  That’s what is happening today.  You see the 10-year Treasury is at 2.47% and rising. . . . You cannot continue to print unlimited amounts of money and have everything be quiescent.  It is going to come back and bite investors in the butt shortly.”

Pento thinks the biggest danger in the world is overconfidence in central banks.  Pento explains, “The biggest bubble out there is an increase in faith that central bankers can save the world.  This is why Chinese shares can drop 7 ½% overnight and the Dow can be up 90 points.  What do I hear on radio and TV is who cares if Greece leaves the Eurozone because didn’t Mario Draghi say he would do ‘whatever it takes’?  Who cares if Chinese shares collapse because the Peoples Bank of China will just print money.  Who cares if inflation in the United States becomes intractable?  Didn’t they say Fed Head Janet Yellen and company would just buy all the sovereign debt there is to keep interest rates low?  Who cares?  The free market always wins, and it will always trump government.  That’s why I am so petrified about investing right now.  I think we are in the most dangerous time frame we have ever been since the history of economics.  I think what is going to replace this misguided spurious faith in central bankers is going to be a renewed interest in hard money-precious metals.  We are going to throw out the central bankers, and we are going to universally think it is absolute madness to think we can put our faith in a small unelected, unaccountable group of people.  We are going to put our faith back into gold and silver as money.  That’s what I am looking forward to.  It will be great news to America and the economy in the long run.”

Pento also gives a dire warning and points out, “If you look at it globally, there has been a $60 trillion increase in debt since 2007.  This is unprecedented, it’s never happened before.  There is going to be a lot of insolvencies when interest rates normalize, and investors have to be very cautious. . . .  You are either going to be in for a deflationary depression as the yield curve flattens out due to an aggressive Federal Reserve, or, and this is more likely, you have to watch the long end of the yield curve because once that breaks 3 ½%, watch out.  This market will absolutely tank along with every other phony and engendered asset class that has been sponsored into the stratosphere by the Federal Reserve.”

Join Greg Hunter as he goes One-on-One with financial expert Michael Pento of Pento Portfolio Strategies.

(There is much more in the video interview.)

After the Interview:
Michael Pento’s website is called PentoPort.com.  Mr. Pento has prior interviews and some free analysis there.  If you would like to sign up for his podcast click here.  To get a copy of his book titled “The Bond Market Collapse” click here.

  1. Derrick Michael Reid

    Thank Greg, Michael Pento is always a good get!

    • Collateral Damage

      “Capitalism has defeated communism. It is now well on its way to defeating democracy”
      (David C. Korten, When Corporations Rule the World)

      Well said,


      • Dr Destitution

        Mafia Casino-ism

        When the Federal Reserve System replaced gold-backed-currency-capitalism, the productive business cycle was demonized and replaced with credit expansion and credit default cycles, basically a musical chairs casino game

      • red

        “Capitalism has defeated communism. It is now well on its way to defeating democracy” Well it’s worked out pretty good for China! I’d say it’s more of a draw. One might almost say Capitalism is Communism. Thats what Marx indicated. Richard Duncan calls it creditism. ism i’m this. ism i’m that, it’s all rock’n roll to me. Nice use of the dialectic though please expand!!

  2. FC

    Greece, is an historical country once filled with famous Philosophers
    like Aristle, Pythagoras and Archimedes, unfortunately Greece’s only hope today, is to die laughing like Chrysippus did back in 206BC.

  3. Vortex


    I just wanted you to know that you are the gold standard and on the cutting edge with your superb show and a treasure trove of leading guests.

    Mike Pento is just stunning in his analysis and macro views on currency and world geopolitical events as well as the gold market and the FED.

    You my friend deserve a much bigger audience with a large funding support arm to help defray costs and reward you while you ply you outstanding trade. I wish I was in a position to be that donor, because if I was, I would be.

    Keep up the great work Greg!


    • Greg Hunter

      Thank you Vortex.

    • Saeed

      Hi Vortex, even small amount of donation by each person will add up to a lot! Thanks!

  4. Silence is Golden

    MP’s …..”obsession over Greece” comment …..was …how can I put it….simply WRONG.
    Underestimating the “TINY” nations impact on world markets seems to be the prognostication du jour for many informed analysts and money managers.
    Given the interview was done at 12.00 EST (Mike’s wall clock was a dead giveaway) on perhaps Friday 26 before news came out about Tsipras implementing a referendum over the new ECB/IMF/EU funding plan….and then instructing Greek Banks to initiate CAPITAL CONTROLS…as of Monday 28th. This is no veil threat…this is reality biting the EU in the BUTT. This is the beginning of something much bigger and nastier than most are/were prepared for….INCLUDING THE ECB/EU and that stinking carcass the IMF.
    Tsipras (who is only 40 years of Age BTW !!!!) is telling the Greek populace that their money is safe. Capital controls are the precursor to BAIL-INS.
    Strange thing is the ECB/IMF wanted to send a clear message to the greater (SOUTHERN) Europe …..” if you have a debt …be prepared to honour it”..and…”we cannot continue to support you indefinitely”. Somehow I believe that it will backfire on the maestros of finance and those in the same category as Greece (Bankrupt Nations) will follow Greece’s lead. This in essence is the commencement of the Bail IN regime. To avoid the triggering of the Derivatives (which require a declaration of Default for the CDS)….they will work towards calling it something other than a Default.
    It was almost 2400 years ago when another Alex conquered Europe.
    Who said history doesn’t repeat ?
    Just out of curiosity ….Alexander the Great died in the year 323BC (June) in Babylon. That was 2338 years ago. Just by coincidence that number is divisible by 7. Does than mean anything to anyone who studies cycles ?

    • diane s.

      Good point SIG

    • Collateral Damage

      I’m not a big supporter of the 7 number-ishological idea. But I do agree with you SIG that MP may be underestimating the potential outfall from a ‘Greece Explosion’ (pun intended). 🙂 KABOOOOOMMMMMEEEEEE is indeed a possibility.



    • Cryptic Little Sister

      There would appear to be a parallel to the Russian problem with the post-1989 oligarchs, no?

      Greece is not small country, when one considers their geo-political importance, no?

      One must consider Greece in relation to Romania and Moldova, and even Russia, no?

      The “message” that the troika sent to southern Europe depends upon what one means by support, no?

      Who is supporting whom?

  5. Colin - 'the farmer from NZ'

    Awesome interview Greg!

  6. Night Night Mikey

    Greg, you kept Mikey up past his bedtime. It said midnight on the clock behind him! Get a good night rest Mikey – we always appreciate your viewpoint and advice.

  7. red

    Greg Spot on!! Collateral that is what has to happen you nailed it
    the tptb are just trying to put off the day of reckoning literally. Also Europe
    looks like markets’ in free fall. The guys at ZH seem to be the only people reporting
    this. Don’t think they’ve been to bed all weekend. They are doing a great job of letting
    people know. It is not looking good.

  8. BramstAr

    You have certainly raised the bar with this insightful interview from a very well informed and extremely knowledgeable man!
    Once again thank you for your continuous hard work in preparing those willing to listen to the message you are sharing.
    keep the faith and stay blessed

  9. paul

    As the Greek people begin to realize they are only pulling “paper” out of their banks that are IOU’s created by bureaucrats who can’t keep a lid on printing without everything imploding … they will be looking for a safer form of holding their wealth … just like the people of India and China … central banks will be forced to back up their paper IOU’s with gold to restore confidence … Western banks are going to need a lot more gold then they currently have on hand to generate this confidence … and the new SDR’s will be backed by more gold … and reserve currencies added that have a lot of gold backing them (like the yuan) … the IMF to foster confidence is now considering moving their headquarters to Beijing … China with all its gold will control the IMF which will take the place of the Fed as the worlds central bank … so it won’t be the “dumbed down” American’s that will “End the Fed” … it is going to be China!

    • paul

      The big European banks are now probably willing to cut Greece loose … because they have moved almost all their Greek debt onto the ECB books … where it won’t damage their bottom line and therefore prevent a derivatives implosion … and the ECB will likely re-classify the Greek “lack of payment” as technically not a default in some way … so as to prevent any possibility of the quadrillion derivative bomb exploding! … the world will then look upon the Greek problem as a non-event … and the bankers will have bought more time to patch up the world’s monetary Ponzi scheme.

  10. phill nelson

    on ya Greg that was top stuff ,Please keep up the hard work mate we all need true men & women to stand up for the people still in the dark ! fear not

    • Greg Hunter

      Thank you Phill and yes, “Fear Not.”

      • red

        I dont like it but I think Greg Mannarino is right about his call on this, the European markets went down too quick. TPTB are not ready maybe a historic up move on the Dow tomorrow. You mentioned the church of rome in one of your reports. I’ve never understood why church leaders have not come out and demand liturgy in honest weight and measure(silver). And yet they accept usury paper is this not an abomination to the lord? With the eastern church they could encourage individual prosperity with this one simple request. Perhaps even redeem themselves a little for other bad acts. JMO
        I really love your reports.

        • Cryptic Little SIster

          That is because there is a group within the Church, one that is ethnically united and very powerful, one that has controlled the finances of the Church for the past two centuries.

          At a certain level in the Church, one is never allowed to mention this group.

          It is taboo to mention them here as well. So I won’t, out of respect to others here.

          • Kerry

            I would say you could make that comment about other orgs as well, corporate, the Congress, the White House, unions. All have small groups in the know and pulling the strings so to speak, for their own agendas, while the rank and file members usually are clueless. The problem is, the Church is supposed to be the “light in the darkness” but it seems more and more than they are doing their work in the dark. Or maybe the Darkness is gaining ground all over the world. I wonder how many church leaders and members of Congress have their own version of pictures of Dorian Gray in their attics? “When the Son of man cometh, shall he find faith on the earth?” Luke 18:8

  11. Jerry

    We are in the midst of a planned worldwide economic takedown. You have roughly 100 days left to do whatever it is you plan to do, to prepare for it. The EU will be restructured under a new currency system (structured by the globalist using the RMB) once Deutsche Bank implodes when Greece defaults.

    Unbeknown to the American people, we are on the hook for roughly 167 Trillion dollars worth of European derivatives, thanks to the globalist seated in our government. When Deutsche Bank goes down, it will take our banking system with it. Martial law will ensue, and then the real intent (global domination by one world currency) of the globalist will be manifest. The RMB will be the new world reserve currency in order to draw the BRIC nations, the restructured EU, and the new NAU (north American union) into a one world currency. Don’t you think the timing of all of this is, with Jade Helm 15, is a bit coincidental?

    • Paul from Indiana

      Brother Jerry, at this point there is no redeemable currency in the world. As a result we are facing a calamity. The Dollar was physically redeemable until 1971, and then it continued to be redeemable so long as the US had the dominant and viable industrial base of the world, and the Dollar was redeemable through the power of taxation. Guess who has the dominant and viable industrial base of the world now, and, if what we have been reading and studying is true, that same country, China, has the gold to bring a redeemable currency to the table? It could mean stability in the long run, but it will be at great personal cost to most of us in this country. Or not, in which case, as the song says, people get ready for the train to Jordan… Best always. PM

    • Bob Lamb

      I’ve been thinking along the same lines.

    • WD


      If you have read my last post you will see that the best laid plans etc,,, there are so many moving parts here. Jerry whatever is going to happen is based on a case of desperation.

      Some people got exceedingly greedy and really screwed up. Please dont over estimate this enemy. These are mostly ivy league imbeciles trying to “outsmart” the next person…

      Giving them too much credit gives them too much power!!

      • Jerry

        Check out the history of ‘The City of London Corporation”. These Luciferians have been at it a long time. This is not their first time at the Rodeo. But for the record, I sure hope you’re right. It may be the only chance we have until “the one” returns.

      • Cryptic Little Sister

        This is very true. I can tell you from where I sit every day, there is a group of men who are very worried about the public mind set. They are afraid of the word that is getting out about what they have been doing. They are working very hard to make it appear as though they are more powerful than they really are.

        Jerry, I respect your views, but be careful not to fall for the fear that is being spread right now. This group is very vulnerable right now. The problem is both worse than you know, and better than you can imagine.

        • Jerry

          The problem with me is, I’m still to young to lay down and die, and to old to care if I get killed. Your friends should worry. Even cockroach’s need a place to hide when the light comes on.

    • Chip

      Scary stuff Jerry. Hope we have longer than that to get prepared… Best of luck… Chip

      • Jerry

        90 days.

    • paul

      Jerry … Word has it China is expected to receive approval from its central bank for a yuan-denominated gold fix as early as next week … to bad it won’t be on the 4th of July … because it is going to create a lot of fireworks!

      • Jerry

        Paul the globalist have been grooming China as our replacement for quite some time. They are the ones who bankrolled their system. The next 90 days should prove to be very interesting.

    • Jerry

      Greg this is what the central planners want.
      If you stop and think about it, 1.5 Billion is not that much money, when you consider the Fed is printing 125 Billion per month to just to keep the U.S. economy propped up. As I’ve said they have a long range plan, and this is just one stop along the way. The debt bomb is officially ticking.

      • JC Davis

        The money will be given until there ready to let it fail.

    • Collateral Damage

      I remember an old Campaign Slogan…

      “Don’t Worry, Be Happy!”

      Finish the preparations we can and then I am not sure we have much better alternative at the moment.

      Best to All,


  12. jc

    I listened 2 times and have to say its very complicated to grasp. Some terms mentioned I have never heard before. Plot points. Dot plot ?
    Who can give a prediction with so many options to failure.
    As far as I am concerned we as a nation have no government to control anything other then removing the left over constitution pieces. The collapse has already happened.
    If you buy a new car you can not afford, with 6 months no payments, when it is due is not when your trouble started. Your trouble started when you bought the car you could not afford. Sad times.

  13. Matt Jaymes

    Michael Pento for President! I love this guy’s style. Excellent interview.

  14. dchayden

    Greg, thank you for this !! What a great interview ! You are great at what you do !! Already looking forward to Wednesdays !!


  15. Michael Haller


    Another excellent interview but we might be on the gold standard faster than Michael Pento thinks we will:


  16. TED

    one of the best interviews ever!!!!!!!!!!!! the man is honest and a student of history

  17. brian

    I love Mr Pento’s optimism, but feel that his belief that free markets will take over and usher in some kind of sound money renaissance are not supported by the current situation plain for all of us to see. My only real question is where is this so called free market? And where do we see any evidence of the will to undertake such a monumental and painful restructuring of society?

    Nah, most people have been perfectly happy to tolerate the antics and crimes of the complete shitheads pretending to run the world. When things start to go bad I fully expect those same people to just roll over and look to the same assholes in charge to fix everything for them…and boy oh boy will things get fixed.

    • red

      Correct Brian. There are NO Free markets ! Whilst you have people running around like that Hudson character telling people Government deficit spending is the answer. Thats’ how we got here! While Government continues to believe that they create wealth! They don’t! They destroy wealth. We now have the Proof. The answer is to encourage the INDIVIDUAL to create wealth. You know grow stuff, build stuff., provide services to his community but to profit from his labour it’s called INCENTIVE. This stuff is in PROVERBS. Adam Smith “capital must precede production” Property rights and the existence of pure contract that supersedes that of Governments, Kings and Corporations!! That contract is here. It is called SILVER!!

      That is is what the monopolists and central planners fear the most SILVER. For it allows the individual to look after himself. Deuteronomy “honest weight and measure”.
      Rant Off.
      God Bless

      • G. Berkshire

        Red, read your post twice then it clicked. They will think there doing us a favor by letting us live to be their slaves. Silver means freedom, makes sense!

        • G. Berkshire

          To create wealth you need incentive too grow stuff, build stuff, provide services to the community. To profit from your labor you’ll need a contract to be paid in silver. Silver is the incentive and the contract. To encourage the INDIVIDUAL to work. This stuff is in PROVERBS. Adam Smith “capital must precede production” Property rights and the existence of pure contract that supersedes that of Governments, Kings and Corporations!! That contract is here. It is called SILVER!!

          But Red look what they did with fiat, people worked their whole lives, soon to find out for nothing. Because they will have only paper of no value. Their going to end up with nothing, brook busted an disgusted. That’s why the bible says real money, not paper dollars, is a protection,

          English Standard Version
          For the protection of wisdom is like the protection of money, and the advantage of knowledge is that wisdom preserves the life of him who has it………… ◄ Ecclesiastes 7:12 ►

          Silver, gold, or anything tangible of value can be a storehouse of your labor, you had to work to attain it or trade some other storehouse of value. Our dear leaders like our Justice Roberts who gave away our law’s, couldn’t take all the crying & moaning and gave away the store, our storehouse of value in paper, away, fiat currency, by debauching it. So when the sheeple realize they have only toilet paper and no more toilet the only way out will be slavery and no pay, to just eat! It took 100 years, one generation, since the Fed was created and now it’s hungry! There’s only one way out of this mess, pray! H E L P !

          • red

            Yes they make beggars of us all. But christ is in us all. We look to him for love and our brothers for their soft direct,language. We have no need of fear. He hears every one of us.

  18. Michael Harvey

    This man knows his ‘ONIONS’

  19. Russ

    Thank you Greg, great interview. When the “Central Bank Faith” bubble blows, a debt Jubilee may be in the cards. All the debt out here, the debt that Greece is dealing with now, is a construct of the central banks and the current monetary system in order to control governments. It’s a debt based monetary system; the system needs people & governments in debt. In some cases the debt isn’t real. What loan shark would lend money to a client who is already behind on payments? A loan shark with a motive other than making money off that client. That motive is control. Greek PM Tsipras and his finance minister have been far too vocal regarding the fact that Greece is bankrupt.

    In order to start over, the debt needs to be destroyed along with all those interest rate derivatives. Look at how the Greek debt has been piled on. Debt being added to the books just to make interest payments. How is that real? What loan shark would lend money to someone they know can’t pay? The loan shark doesn’t like it when his client says he can’t pay back the loan while he’s being offered another loan to make that payment. It what loan shark business does that make sense? Yet here comes the ECB to lend more money to Greece if they’ll only increase austerity. It’s all about control of the Greek gov’t and not letting Italy, Spain, et al get any ideas. In the end it’s about controlling all of us.

    Regarding markets, how does the “value” of any market drop 7% boom — it wasn’t real. Markets these days are just a tool of the banks to concentrate wealth. Is it normal for things to whipsaw like we’ve been seeing in all markets? Prices can jump around, but not real value — look at those P/E ratios. It’s all fake, central banks maneuvering markets in order to get control. A Chinese housewife here, a retirement fund there — a lifetime of saving … and it’s gone.

  20. Chip

    Great interview Greg and great guest. Here’s something to share with you and your readers. Written in 2011 but even more relevant today in light of recent SCOTUS decisions…

    545 vs. 300,000,000 People
    -By Charlie Reese
    Politicians are the only people in the world who create problems and then campaign against them.
    Have you ever wondered, if both the Democrats and the Republicans are against deficits, WHY do we have deficits?
    Have you ever wondered, if all the politicians are against inflation and high taxes, WHY do we have inflation and high taxes?
    You and I don’t propose a federal budget. The President does.
    You and I don’t have the Constitutional authority to vote on appropriations. The House of Representatives does.
    You and I don’t write the tax code, Congress does.
    You and I don’t set fiscal policy, Congress does.
    You and I don’t control monetary policy, the Federal Reserve Bank does.
    One hundred senators, 435 congressmen, one President, and nine Supreme Court justices equates to 545 human beings out of the 300 million are directly, legally, morally, and individually responsible for the domestic problems that plague this country.
    You can find the rest of this here…


    • Paul from Indiana

      Chip, who put those 545 in place? and why? Just sayin… Best always. PM

      • Art Barnes

        Paul, I didn’t put them in place, cannot stand treasonous people but your point is well taken. The real problem is “they” do what they want and get back in every time; now that is telling about the mentality of the average American – can you say STUPID.

  21. Mark


    Another vibrant, fact-filled interview with the likes of Michael Pento. He tells it like it is and gets to the point in a hurry! I hope his prognostications are true about removing the failed central banks and going back to a sound money system. PM investors and savers must be rewarded and the riggers must be jailed or worse! My only regret was that this interview was shorter than most. Mr. Pento’s interviews are ones I always look for on the web to get the dirt on this financial tsunami about the wash upon our shores.

  22. Marcus West

    I always like to watch Mr Pento and he does not have some overpriced website for information. For the low income person he does not try and rip you off like others. thanks for having him on I always like to hear what he has to say right to the point and no non-sense.

  23. PentoIsGood

    That’s a good interview and Pento always speaks with conviction.

    The Fed is clueless. Sideways price action of precious metals won’t last forever. I agree with Pento that this year, probably after September, it’will become clear that Yellen and the rest of Fed’s Keynesian fanatics have no idea what needs to be done (except if their intention has been to enrich Wall St., which is very likely).

    • paul

      PentoIsGood … you say “sideways price action of precious metals won’t last forever” … in Bill Holter’s June 30th commentary he asks the following question … “What if the price of silver were to equal gold or even surpass it in the future”? … this is exactly what I see coming! … the Bible’s determination of the valve of silver is somewhere between $580 and $5800 dollars per ounce!

  24. NC Gal

    Despite all of the passion he exudes, I think there are some serious flaws in Pento’s scenario. I agree with his observations regarding general confidence in the central banks to provide relief in the event of a financial crisis. However, the FACTS show that the central banks’ machinations CAUSED prior financial crises, in classic Problem-Reaction-Solution fashion. They profited enormously from all of it. The central banks are the puppets/agents of those who are really running the show and I think that enough of your speakers have demonstrated that there aren’t any free markets anymore to lay to rest Pento’s reliance on market forces to “normalize” things. In my opinion, the NEW “normal” that will logically arise from the present trends is a two-tiered, decidedly smaller, society worldwide and I expect that to happen on at least one timeline that I am aware of. I personally do NOT expect things to RETURN to prior normalcy ever again.

    Instead, I believe that the system will be intentionally crashed when the elites are ready to handle the aftermath. I have posted before about a DHS Insider report that says that a period of chaos will be allowed after the crash, to get people to demand and welcome greater controls, which the elite and their minions will be only too happy to provide. Jade Helm and the closure of those Wal-Mart stores on April 13 are part of the preparations needed to carry out those controls. The TPP, TPA, and TiSA acts are part of that structure, also.

    On a side note, Greece may not even have the funds to pay for the referendum (http://www.zerohedge.com/news/2015-06-29/greece-may-not-even-have-funds-conduct-referendum) and it’s not even clear what the referendum will be voting on, since there will be no extension of the “deal” that is due to expire at midnight on June 30. If nothing else, this situation in Greece is showing just how predatory the Troika is and how impossible it is for this to end happily. It’s a whole circus, not just a side show!

  25. mushroom

    Beautiful presentation.

    Any chance you could get Michael Hudson or William Black?

    Thank you again…

    • Buck

      Yes, the Hegelian Dialectic is being employed. The elites are intentionally crashing the system creating chaos. Afterwards, people will beg for help at any cost. The global elites will then be happy to come to our rescue at a very high price to national and personal sovereignty.

  26. NC Gal

    I just watched an interesting video (https://www.youtube.com/watch?v=dc5cz6JgfcI), published in February 2011, that sheds some light on what we are witnessing taking place right now. I am pretty sure that William Mount is some kind of disinformation agent, but a lot of what he says is true. Like all good DIS-information, it has to contain a high percentage of truth in order for the lies to be considered credible. I would be very interested in hearing your thoughts on this presentation. The dissolution of the United States in 1933 is fact and is in the Congressional Record. The present events we are witnessing take on a different meaning and significance when you consider that the custodians of that bankruptcy consist of the IMF, World Bank, and the BIS. The so-called “federal government” exists in name only.

  27. JCN

    Just wondering…If Mr. Pento’s financial position is half in cash, does he keep that cash in a bank? We see the bank closures in Greece and a bail-in could follow. How do we assess the risk of continuing to keep our money in the bank? Great interview…thanks, Greg, for all you do!!!

    • JCN

      Any thoughts Greg?!? Thanks!

  28. dee garmon

    One good interview after another. Keep the good job up!

    • Greg Hunter

      Thank you Dee. We have been blessed with the right people at the right time.

      • Paul from Indiana

        If by “we” you mean USAWatchdog, then yes. If by “we” you mean the country, then no. And yes, technically, Greece is a fly on an elephant’s back, but emotionally (all that counts in perception) it is huge. I have faith that my soul will survive physical death and with Christ, the Master of this world as advocate, stand judgment prior to exaltation to the presence of the Great I Am, whom we call God the Father, so in that sense, I fear not ultimately, but I’m scared as hell at what we are facing in the here and now. Best always. PM

  29. Mike from the North

    change has begun.
    world soon will see an increasing speed in change of paradigm.
    EU members on offensive now.
    week of blaming ahead of us
    we our on cusp of shakeup.

    big fan of MP

  30. Shawn

    im going long gold and silver this summer, but not just metal; gold corn, golden raspberries, silverberries, gold sexlink, gold squash, ruby tomatoes, golden grain, silver fox rabbit, silver water purification, etc. If you haven’t gone long on non-metal gold and silver, better plan a system of self sufficiency, or take a picture now of your stash, before its gone. yes, gold is undervalued but pento forgot about the other most undervalued assets: sustainable food and water.
    Thank you Greg and Michael!

  31. Gertsie

    Puerto Rico Governor Calls Debt Unpayable as Deadlines Loom

    With two days left in Puerto Rico’s fiscal year, the cash-strapped commonwealth is struggling to pass a budget that would allow it to make payments on a $72 billion debt load that the island’s governor said is unsustainable. Governor Alejandro Garcia Padilla said investors should be prepared to sacrifice if they want the island’s economy to grow, the New York Times reported, citing an interview last week.

    “The debt is not payable,” the governor told the Times. “There is no other option.”


  32. Steven R

    I have relatives that once they lose their paper wealth (stocks, IRA, home equity) they will demand that the government level the playing field and confiscate the “unfair” gains made from those of us who own gold and silver. I believe out of jealousy they would even turn me in to the authorities. As one of your last guest said the government will quickly blame the collapse on those who hold physical gold/silver and the regular people will be demanding that we are not allowed to prosper from their misery and even maybe punished for causing it. Still stacking but hoping never to need it…

  33. Gertsie

    Corruption—How Widespread Is It?

    “Our company provides services for a local government authority. We must often wait two or three months to receive payment for those services. Recently, though, I received a phone call from a government worker. He offered to speed up the payments—if we gave him some of the money as a kickback.”—J**N.

    HAVE you ever been a victim of corruption? Perhaps not of the kind mentioned above, but almost certainly you have suffered the effects of corruption.

    According to Transparency International’s (TI) 2011 Corruption Perceptions Index,* “the vast majority of the 183 countries and territories assessed score below five on a scale of 0 (highly corrupt) to 10 (very clean).” Two years earlier, TI acknowledged that its 2009 annual report exposed the pervasive reality of corruption: “It is clear that no region of the world is immune to the perils of corruption.”

    “Corruption is the abuse of entrusted power for private gain. It hurts everyone whose life, livelihood or happiness depends on the integrity of people in a position of authority.”—TRANSPARENCY INTERNATIONAL

    In some cases, the consequences of corruption can be disastrous. For example, Time magazine reported that “corruption and carelessness” were at least partially responsible for the very heavy death toll in the massive earthquake that struck Haiti in 2010. It added further: “Buildings rise with little if any input from engineers and plenty of bribes to so-called government inspectors.”

    Is there a lasting solution to the scourge of corruption? To answer that question, you need to understand the basic causes of corruption. Will you consider these……… . . .

  34. Gertsie

    Why In The Heck Does Corruption Persist?

    “Man has dominated man to his injury.”—ECCLESIASTES 8:9.

    THAT statement aptly describes the history of human rulership. It has been responsible for untold suffering and misery. In all ages, well-intentioned people who have tried to establish a more just society were constantly foiled by greed and corruption. Why is that so? Why does corruption persist?
    The Bible plainly states that we “are all under sin.” (Romans 3:9) Like an incurable hereditary disease, sin “resides,” or is “dwelling,” within us. For thousands of years, sin has “ruled” over mankind like a king. Its “law” is continually at work in us. Sinful inclinations lead many to put their own interests first or to center their lives on gaining material possessions or authority at others’ expense.—Romans 5:21; 7:17, 20, 23, 25.

    Our world is characterized by greed and selfishness. In such an environment, some people find it difficult to be different. Driven by selfish ambition, they become power hungry. They also develop a strong desire for more money and possessions—more than they really need. Sadly, they are willing to behave in a dishonest way to achieve those goals. Rather than resisting unwholesome influences, such people “follow after the crowd for evil ends.”—Exodus 23:2.
    Satan, a rebellious spirit creature, is “misleading the entire inhabited earth.” (Revelation 12:9) He thrives on manipulating humans. He may craftily exploit a person’s natural desire for material comfort and financial well-being to the point that the person acts deceitfully.

  35. paul

    I wonder how much money I can collect to cast my “yes” vote to put them all into Hell … actually I give my yes vote absolutely free (the way Congress is supposed to be doing when voting on issues) … any money God’s special interests want to pay for my “yes” vote … can simply put that money in the poor box at Church!

    These bribe taking Congressmen should be telling the special interests to give their bribe money to the poor people around the world … who break their backs to earn a dollar per day to feed their families)!

    • G. Berkshire

      THREE cheers for Paul! You sun of ah gun!

  36. Charles H.


    It sure looks like we are heading to a dystopian future. I wonder whether the USA hasn’t tangled world finances in such a way – as to take everything with it if it goes. The Markets are gone; everything is manipulated; and unification across the board may be seen as the only exit.
    If you couldn’t fight the Fed; who will resist the New World Order (NWO)? Humanity is plagued with the Privileged. The Inner Circle will aways be redeemed; regular smucks will be outlawed (or out-lawed – where laws are instituted to rob and repress any advancement or gain). I thought Precious Metals would be a safe-haven when interest rates dropped below 2% on CDs. But now I don’t think there will be redemption.
    The “We won: get over it.” mentality rears it’s ugly head throughout government. Much like Greece to the Eurozone, the USA will blackmail the world – for a do-over and re-capitalization. Only total economic and monetary control will insure governmental survival – the paramount issue for human survival. The Elite won’t let men and women think, or act, or work for themselves; it’s ‘counter-productive’. The Over-State will grant Right and Privilege; work and survival: the final cast die of ‘Human solutions, for human problems’ – complete global organization of commerce. Complete co-ordination at the cost of individual prerogative. Competition with government will be interpreted as criminal (and unpatriotic!) – so Precious Metals just won’t do, as something outside the system and control. Countries which have hoarded PMs will be prominent; but gold and silver may become the exclusive franchise of the Over-State. At some point, I fear PMs will be swept into “The System”; and gains imagined, will be transitory.

  37. Art Barnes

    Greg, (5pm EST), yes, the MSFM (financial media) is touting the Greece as “nothing of any significance); “only 2% of European Union GDP”; “markets have mostly already factored the default in” and so on and so on all day. What the financial media is really down playing is China’s recent stock decline, when it is mentioned, its just a “expected pull back”, “natural after a long bull market”. I guess you & your bloggers have figured out that no matter what happens the vast majority of Americans will buy the spin; that is until America Banks go on holiday. PS, really enjoyed your guest. ab

  38. Jerry

    There you have it. Another economic prognosticator has joined the ranks of those that have been issuing a “Red Alert” for an economic collapse before the end of 2015.

    What’s even more interesting is that he backs up his prediction with some pretty hard evidence. Maybe a future guest eh Greg?

  39. Edward Ulysses Cate

    Hate to admit it, but it looks like sociopathic financial experts
    around the world are currently adding a BIG new chapter to an old book:
    Memoirs of Extraordinary Popular Delusions
    and the Madness of Crowds;
    by Charles Mackay (originally of 1852)
    Just so folks don’t think I’m advertising websites,
    google the book title yourself for a free pdf version.

  40. Anne Elliott

    The belief in the Fed is a bubble? Yes, but for the vast majority of Americans, who don’t even understand what the “Fed” is, it is their belief in the “American way of life” and in their unbridled belief of entitlement to that life, that is the bigger bubble. IMHO, that has belief has been carrying the System for a long while, allowing the Fed to work its “magic”. The vast majority just can’t believe that this type of life will ever end. It’s frighteningly unfathomable to them.
    Saw my cousins this past weekend, and tried to seriously talk with them about a potential economic crash coming and told them to make sure they had some cash at home, extra food, etc… They just stared at me with that “deer in the headlights look” before changing the subject to when they were going to retire, and what gated condos they were looking at buying… Ah, well; gotta keep trying.
    Thanks for your work Greg; May God continue to bless you for your work (and thanks and blessings to Michael Pento too)!!

  41. Donna S

    I am curious to know what your thoughts are on the Jade Helm 15, the Walmart closings, and the money crises, TPP, TPA, and TiSA are all related??? I can tell you Walmart does NOT close 5 stores over plumbing! I worked for them for 8 years and we closed for one thing…Christmas. I may not understand the financial side of your reports, but I read them all. I can decipher enough to know the US is in big trouble. I can also say that most Americans are clueless……totally! I ask my co-workers and friends about what all is going on and they have no clue or do not care. They live in their own little bubbles….sad.

  42. 8Ball

    I agree, Greece is small potatoes in comparison to the overall global debt load. Some AM websites are way overboard on hyping the “Greek debt crisis” and post endless articles on what terrible things “might” happen if Greece defaults. Most likely not much at all in my opinion. How many times has Argentina defaulted? Twice? It is much closer to the US and there was barely a ripple of impact on the global economy. Greece is definitely being used as a distraction.

  43. Calgirl

    Jim Sinclair column for June 29 (scroll down)
    Posted June 29th, 2015 at 5:33 PM (CST) by Jim Sinclair & filed under Bill Holter.

    • WD


      This is a great article…Thank you for posting!!

  44. Sayonara

    Another outstanding interview. No one in journalism and the media has more credibility than you – PERIOD!
    Your guest interviews and WNW have been second to none. My two teenage boys, wife and close friends all of sudden are paying attention to what is happening and apologizing for not listening to me. The “rubber is definitely hitting the road” now.
    I think the economic implosion is going to accelerate now more quickly than a dry lightning fire in my drought parched Northern California. Fear Not!

  45. paul

    Let’s all the world take a break from events here on Earth … relax and look up to the heavens … and focus our attention for a few moments on events going on in God’s universe above … which offers us something both beautiful and thought-provoking which can be seen right now in the western night sky … the planets Jupiter and Venus are in “conjunction” meaning they are very close together … lets refresh our minds from Earthly worries … take a deep breath of amazement … which looks even more spectacular when our moon swings around to join them each night (about 3 pm here on Long Island, NY) … the brightest and largest looking planet is Venus … the smaller one is Jupiter (even though Jupiter is actually the largest planet in the Solar System because its distance is farther away it looks smaller then Venus) … with a good pair of binoculars you can “even see” some of the moons of Jupiter!

    Take a moment to contemplate that one day in the not to distant future humanity will have set up colonies on Jupiter’s moons, on our Moon and around Venus … and these “conjunctions” will probably be celebrated by our multiple civilization … although we most likely won’t be around to see these Solar System Holiday Celebrations … we can be a part of it all … right now in our own minds just by contemplating what the future will bring … when humanity settles other worlds among the stars … but for this to come to pass … we must rid ourselves of the evil ones trying their best to destroy our world in a nuclear holocaust for personal power and profit.

    • G. Berkshire

      and these “conjunctions” will probably be celebrated by our multiple civilization … although we most likely won’t be around to see these Solar System Holiday Celebrational Jesus Comforts Martha and Mary
      …24Martha said to Him, “I know that he will rise again in the resurrection on the last day.” 25Jesus said to her, “I am the resurrection and the life; he who believes in Me will live even if he dies, 26and everyone who lives and believes in Me will never die. Do you believe this?”…◄ John 11:24-26 ►

  46. Thomas harmon

    Why didn’t gold and silver jump trought the roof today , it just doesn’t make sense good interview Greg

    • JC Davis

      Thomas. Because most gold is owned in paper stock it can be resold over and over.

    • aussie jeff

      price of gold and silver has always been the canary in the coal mine,in times past it was an accurate and reliable barometer of major world events and financial climates.
      That specific gauge of reality has been taken from us, the supression is merely a stalling tactic.
      Manipulation of those precious metals keeps the game going just that little bit longer,imagine for a moment if the finger of manipulation was removed as of now!!
      Gold and silver would go through the roof, cash would be back under mattresses no one would spend and that in itself would be enough to bring down an economoy that is already on life support..
      Its far easier to give the illusion that all is well,while behind the scenes their giving cpr to the canary.

    • Cryptic Little Sister

      Perhaps because the price of gold is not directly related to demand or supply. Sometimes a buyer is willing to be fooled into paying a higher price, regardless of supply.

  47. Mike R

    Greece is defaulting. Chinese stock market has tanked 25% in 3 days. France is close to being another Greece. Yet gold is getting hammered down. If there isn’t just massively obscene demand from Chinese consumers, and India, and then all those people yanking their money out of the banking system in all of the EU, for gold right now, then you can pretty much forget about gold moving higher anytime soon. If the price is being somehow manipulated downward, at this juncture, then hard to see how they won’t be able to simply continue to keep it down for as long as they want. Whoever they is ? JPM, the PTB, the FED, who knows ? Gold and silver both have been monkey hammered since 2011.

    • MIke Gleason

      The money is parking in the US dollar not so much in gold. Nothing to get worried about.

  48. Brian Howard

    Fantastic Greg, Get him back more often. He’s not on your show nearly enough. You two make a great team actually!! I loved him when he was in business with Schiif and I still love him. Says what he truly believes and does so truly passionately. Don’t often see his passion – I get he’s the real deal. Thank you Greg.

  49. NS

    it is getting exciting Greg, very exciting!

  50. Art Barnes

    Greg, CNBC is touting multiple buy signals in light of the Greek economic crisis, I’m not kidding, you can’t make this stuff up. Probable during a nuclear exchange CNBC will go long on aerospace since they manufacture the rockets & their engines!

  51. Mason

    Greek Prime Minister Tsipras’ last-ditch letter to the Eurogroup before the deadline of payment to the IMF expires tonight:

  52. Clive Crashcup

    The Fed is printing 125 Billion per month to just to keep the U.S. economy propped up.

    Over 600 tons of contaminated radioactive groundwater water enter the Pacific ocean everyday from the Fukushima nuclear power plant meltdown and the cleanup is so delicate, because of the possibility of a nuclear chain reaction that would destroy life on earth as we know it. It will take over 50 years to clean up, if were lucky.

    That’s just two dire situations threatening our cozy way of life.

    We need much more than a Donald to save our necks, we are in need of a messiah. Anybody got one available? Willing to rent, for possible massive cleanup and but kicking! God bless the USA. . . as soon as possible. . . please?

    TEPCO Executives Recognized Need For Improved Tsunami Protection in 2008
    June 20, 2015

    Tsunami-425x197via Enformable.com / June 19, 2015 / Tokyo Electric, the operator of the crippled Fukushima Daiichi nuclear power plant, has released a document during a lawsuit brought by over 40 shareholders which reveals the utilities acknowledgment that tsunami defenses at the plant back in 2008 were not adequate. Positioning by TEPCO since the meltdowns in 2011 allowed the utility to argue that it is not responsible for the triple meltdown, but the internal document casts a definitive shadow over that claim.

    • Clive Crashcup

      Full Fukushima article here;

      * * * J U S T _ I N _ T H E _ N E W S R O O M * * *

      USGS Reports 3.3 Earthquake near Union City
      Posted: Tue 12:21 PM, Jun 30, 2015

      UNION CITY, Mich. (AP) — Geological experts say a small earthquake centered in southern Michigan has been felt in parts of the state.

      The U.S. Geological Survey says the 3.3-magnitude temblor was recorded Tuesday morning northeast of Union City. There were no reports of damage or injuries.

      The earthquake was centered southeast of Battle Creek, where the Battle Creek Enquirer reports a low rumbling preceded a single jolt.

      Geologists say earthquakes of magnitude 2.5 to 3.0 are generally the smallest that are felt by humans and damage is not likely in quakes below magnitude 4.0.

      In early May, a 4.2-magnitude earthquake was recorded in southwestern Michigan, near Galesburg, and felt in other parts of the Upper Midwest. There were no reports of damage or injuries from that quake

      This is not such a big deal anymore now in Michigan because strange as it may be it is not just the Great Lake State but also the Tumbler State as well. Watch the video below and you’ll see how with cracks in the earth venting heat, creating hills, toppling tree’s the topography in Michigan is ah changing and very strange. Outside of Detroit and Grand Rapids there is not much population, but there must be an explanation for all these earthquakes in the last few years, causing damage and shaking up office buildings in Detroit last month in May. Is there a volcano in our future? Is the almighty trying to tell you some thing? The MSM aint!



      P. S. Just yesterday there was a earthquake in Tennessee an their connecting Michigan with the earthquake zone their.

  53. Jerry

    The reported unemployment rate (according to David Stockman) is actually 67.0% instead of 5.8%.

    But of course we all know the best way to cover up a lie, is with another lie, until the lie that was originally told, becomes the agreed upon truth. I think in this instance printing money out of thin air can be used to cover up a multitude of lies until said money becomes worthless. Hello!

  54. Jerry

    Jade Helm 15 now expanding into Missouri.
    I am very familiar as to where this base is located. The bluffs in the background give it away as I have walked these trails many times. The question is, what are they doing here? A telling clue is that much of the bottomland next to the river that they are building their base on, is owned by Monsanto, a top global corporation.

  55. Coalburner

    Steven R has a great point. IF you own PMs or they think you do you better get out of the country fast when ti hits. Just because I have talked about it people think I have it. And They never forget I talked about it. It is amazing. EVeryone flaps their jaw, family, no matter how close. They dont believe you when you want OPSEC in the beginning. When they find out you were right it is too late.

  56. WD

    To All Here,

    I am convinced we are in an “us vs. them” situation. We have to be God’s soldiers.

    We have to bring God’s wrath to our earthly fight. Our government hates people like us and are afraid of us. Look at how evil has seeped into our Congress, presidency, IRS, military and Supreme Court. Its everywhere. Will be fighting it even more when the curtain comes down…please dont give these people that much credit or else be afraid of them.

    Look at the results of the US’s last few wars**** Korea-now…we could never squeeze the population like we wanted to and we never really won any of them.

    They wont win this one.


  57. WD

    Greg some interesting points from Jim Sinclair:

    1) First and foremost, Greece is on par with Lehman Bros. of 2008 or may even be worse! For a sovereign government to go down, or I should say “be allowed” to go down is worse than Lehman. Lehman Bros. was “forced down” and put out of business before anyone figured out what the actual ramifications were.

    2) My point is this, if the central banks were truly omnipotent, then how could “a Greece” ever happen? For those of you who believed it would be “papered over” as everything else up until now has …something has changed!

    3) Greece, or Detroit, or Puerto Rico or wherever, are all small but they are REPRESENTATIVE of what is wrong with the entire system. In fact, if you truly break the numbers down I believe you will find the U.S. is actually in a deeper hole than Greece.

    4) We just do not know who owns or is obligated to “what”. The financial markets and the individual players are so levered in various directions, volatility as we are now seeing can easily bankrupt the underfunded overnight. I believe this has already happened over the last few years but clandestine funding has kept it hidden. The recent volatility may have been too sharp, sudden or violent to keep the evil genie in the bottle, we will soon see.

    5) I cannot stress how important it is now for you to be on guard for anything at any time. A market closure, though likely over a weekend can occur during ANY WEEKDAY! Do not allow yourself to be lulled to sleep by any rallies from here or stories of how “the storm has passed”. It is ONLY BEGINNING! Greece is absolutely nothing compared to what is to come. Even the Chinese market has entered bear market (-20%+) from just a month ago and the leverage in that market is huge with an unwinding due. Ultimately however, this will end up taking out most all of the major money center banks worldwide.

  58. VShook

    Think hard about this: If every asset is in a bubble, is anything then really in a bubble — or has every asset just had a value reset?

  59. MIke Gleason

    US Post Office is so 1950’s but so much more secure. If SHTF The US Post Office will still function if the US government is still in control. The US Postal Service is essential because it provides personal and possibly secure communication as a constitutional right.

  60. Crete Man

    Hi Greg, I would like to say there is a lot of discussion on the vascilating seemingly Greek action on wanting to stay in the EU, but cannot due to austerity. We all know that if they stay it is disasterous. The Tsipris mandate to throw off the shackles of past bad political policy which has enslaved the Greeks. The new Gov has no moral obligation to continue their peoples misery. He also knows that if they leave, Russia will help them to prosper. They also know that if they actively leave the EU, they will be assasinated or coup de etat. So what does one do? Answer, rather than leave, they get the EU to kick Greece out of the EU.

    • Silence is Golden

      Beg to differ….respectfully….!!
      Greece defaults on its debts to troika.
      Greece stays in the EU (for now).
      ECB takes the haircut on the debt not the European Banks.
      EU needs Greece …more than Greece needs the EU.
      Russia will align with Greece/Turkey and eventually Germany.
      Russia establishes a Naval Port in Athens.
      NATO will become defunct….and so goes the US hegemony over EU.
      China steps in and does the unthinkable……Gold Trade Certificates.
      By that point the USD will be singing a lullaby…because it will be going to sleep indefinitely.

  61. diane s.


    Greece caves.
    Welcome to the “Hotel California”
    You can check out but you can never leave

    • Silence is Golden

      Au contraire…the trap is being set…..and it is Greece who is doing the setting. Keep in mind they have the grand master of Chess in the wings.

  62. Sean

    Random Thought: What if China’s stock market bubble, soon to be crash, is an orchestrated event to move savers away from sound money? To have them open margin accounts using among other things, gold as collateral, redline the market with garbage shares of shell companies. Pump, pump, pump, CRASH, wipe out savings, collect collateral pledged and make sure all that insatiable buying by Chinese citizens slows down a bit. I’m thinking a market crash in China will teach its citizens once again that Gold is the only safe place to be…. Great interview, Greg!

Leave A Reply

Please Note: All comments are moderated and manually reviewed for spam. In turn, your comment may take up to 24 hours to be posted. USAWatchdog.com also reserves the right to edit comments for grammar and spelling errors.

Your email address will not be published. Required fields are marked *