Fed Has Lost Control-Bill Holter
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Financial writer Bill Holter contends the recent announcement of the Federal Reserve not to raise rates means the “Fed has Lost Control.” Holter explains, “Whatever the Fed does is wrong. The reason I say that is because no matter what they do, they can’t fix what they have already done. There is no policy at this point that can repair where we are at this point as far as debt ratios, derivative outstanding and the money supply exploding. Nothing that they do now can fix it. The only thing that remains is a reset.”
In the reset, Holter contends, “All debt will be impaired. . . . A reset is going to be a shutdown of the system. Everything will stop. When you are talking about bonds being impaired, you are probably going to see that start or begin in the derivatives market. The derivatives is the tail that has been wagging the dog for years. Derivatives are leverage, and you can use that leverage to control prices. If they can put $1 down and control $100, you can pretty much control the price of an asset, and that’s what they have done. They have supported stocks. They pushed interest rates down and supported bonds. They have suppressed gold and silver prices. They were able to paint a picture using derivatives with 100 to 1 or more of leverage, and when they lose control, that derivative chain between bank A, B, C and D is going to snap. When it snaps, the music stops and everything is going to stop. Once something does break, I don’t think it will take much more than 48 hours for you to wake up in the morning and find that nothing works. Your credit card doesn’t work. Your debit card doesn’t work. You go to your bank and the ATM doesn’t work, and nothing is going to work. The entire financial system will shut down. The reset will be the reopening. It’s not the closure that will kill you, it’s going to be the reopening. In the reopening, everything is going to be revalued. How long will it take to reopen? I have no idea. It could be a week, two weeks, one month, two months or six months. Who knows, but the financial landscape is going to look different, and values will be unrecognizable.”
This is not going to just be a financial problem, but a problem getting things you need to live. Holter says, “These big stores get stocked up every single night. . . . The average store only has food for about two or three days. So, this is not going to just be an issue about you paying your bills. It’s going to break down so badly it is going to be an issue about whether or not you can get food.”
On gold and silver, is this the bottom? Holter says, “To answer your question, yes, I think this is the bottom. Can they push the price down again? It’s possible, but like you say back in 2009, silver on the COMEX was trading just under $9, and to buy retail metal, you could not get anything under $15. . . . The physical market has hit a hard bottom.”
Join Greg Hunter as he goes One-on-One with gold expert Bill Holter from JSMineset.com.
(There is much more in the video interview.)
After the Interview:
Bill Holter is a prolific writer, and you can find new articles he’s written almost every week day on JSMineset.com.
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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.
Greg: As Bill says in your write-up, the feds is screwed- they are now helpless. The Fed is an illegal fraud on America from the beginning- The “banksters” in charge have planned the out-come and know when they blow-up the system. Bill is correct, when this comes down and I’ve been told soon, the revaluation of money(currency) will be shocking to the average person. I was told 60% haircut to start and then down from there. That’s what was $2 to buy something instantly will be $5. Food I was told will be available, but most will not be able to afford it- people will starve to death- or die trying to steal food.
PREPARE NOW
Al,
I think the Fed is going to try a controlled crash next.
Greg
We are already knee deep in it now Greg that’s my feeling.
Scorecard on the “Control” ……they are doing a remarkable job….sarcasm !! 😉
Soon the exits will be log jammed.
SIG,
This mo0nth or next we are going to hear that metal to metal sound when you hear two cars collide and you are standing on the street. The “reality”car is going to have a head-on with the “fantasy” car. Guess which one gets totaled?
Greg
I think that the fantasy that we are a free people will evaporate under the heat of the reality that we live under a criminally run tyrannical monstrosity. I also think that the fantasy that we can somehow survive this debacle will burn away in the fires of the next war that erupts.
Its just time to pray, and thank God for the life we were given, because its about to end for most of us.
‘The time’ is not for us to know. I pray to God and give thanks for my blessings that food is available today at affordable prices, that I have access to the truth about the state of the world and the threat to my loved ones, and based on that information that I have the motivation to take action to protect them. I believe God would expect that to be my duty.
Lastly, thanks again to Greg and Bill Holter. I appreciate both for helping me to protect my loved ones.
That was a beautiful reply to Brian, Diane. It encouraged me, too.
You realized that the motivation to take action is something to thank God for. Imagine the love they will feel when they see the need for all you have done and realize your wisdom in preparing.
I wonder what will happen to the price of gold and silver when the currency is devalued by 60%. My guess is it goes up dramtically.However, even though I have physical metal, I am storing extra food and water.
Sal,
Dont guess. History tells us that when the Dollar devalues ..Gold goes up. Look at the last 100 years …..its all about the loss of purchasing power. Nothing changes that mechanism…period.!!!
Freedom? Now that New Yorkers will need a passport to get in and out of their state, that should end any fantasy of freedom. It’s one country and this is unconstitutional. Any state required to use passports should be shaking the fed govt down right now with refusals.
amen
You wield a mighty word, Brian. You described the worst of our situation strongly.
But in our weakness God is made strong. He sent birds to feed the prophet, manna to feed the Israelites in the dessert, rescued Gideon with only 300 men, and many more. All of these people were doing their best but when it was not enough, God intervened.
Now is time to go to church at least once a week. Encourage people there. Gather food. Google “Edible weeds in (your area of the country). Order the book on eating worms. No kidding. It’s way too soon to give up.
And if and when this collapse doesn’t come in the next 2 months what will you say then? It may happen but I seriously doubt you know the time frame.
Whatever poorman. All I know is all my guest say it is coming because it is a mathematical certainty.
Greg
One of your guests claimed by December 2014 it was going to collapse.
https://youtu.be/aZwSiHBxm0c
Perhaps Mr Organ should be invited back to explain himself .
Some of us prepared and then nothing happened. We lost credibility with our friends and family and now we cannot help them as we cried wolf already. Those bodies will be laid at Mr Organs door.
I do agree this reset will happen however I am now very cautious with anyone claiming this month or next as nobody comes back and accounts for their poor predictions.
Nick,
I have invited Mr. Organ (many times) and have not been able to get him back on.
Greg
You know what Nick, the people who do not think anything is wrong are never going to be convinced by you, Mr Organ, Greg Hunter or anyone. All you can do for them is put aside what you can for those you care about….as for the rest of ’em, just remember how they mocked the truth and how their mockery and denial of it contributed to whatever hell awaits us all; that way you will find the proper motivation in dealing with them realistically and effectively.
It will. God is patient so that none will perish. But, most will.
Hi Greg,
Can you please get one of your guests to comment on what will happen to someone that has a mortgage? Will the banks be able to change the contract agreement that is someone’s mortgage & make them pay more due to inflation?
Please, help me understand this better.
Good question. Assuming one has the ability to make payments on their mortgage (not counting on it) what happens to mortgages on homes? Do the banks simply take the mortgage back and sell the home to another interested party or do they renegotiate the loan with the current buyer in a new system?
Bill Holter pretty much did comment on that one; he said the problem will not be paying your bills but ensuring you have enough food from day to day to remain alive.
If , and it will; social security and disibility fall, it’s just the start. In S. America and Africa people own there homes nd property outright and clear. No disputes. If you or any one in America thinks they own anything, stop paying property taxes. On top of that, the federal reserve banks- stores hold all the mortgages and loans as prime lean holders,. It’s over. America (USA) is a corporation, and the whole world sees this. Sad.
bussnesses included
The solution is happening now to the debt problem. The FED buys the debt and collects interest on the bonds, WHICH THEY REFUND TO THE TREASURY. WE ARE ALREADY PRINTING OUR DEBT FREE MONEY as the FED builds its balance sheet. The FED can buy all our debt and simply wash it clear with a book entry. Ask Ellen H. Brown about this. We are in effect printing our own debt free money now,
but we are doing it in stages.
Martin Armstrong
New York Times
Adviser Jailed Since 2000 Pleads Guilty in Securities Fraud Case
By GRETCHEN MORGENSON
Published: August 18, 2006
Martin A. Armstrong, a financial adviser who has been in jail
since January 2000 on a civil contempt charge, pleaded guilty
yesterday to a charge of securities fraud in a criminal case stemming
from trading losses incurred by his firm in 1999.
At a hearing yesterday afternoon in United States District Court
in Manhattan, Mr. Armstrong, founder of Princeton Economics International,
admitted to deceiving corporate investors and improperly commingling client
funds in a case that prosecutors said resulted in commodities losses of more than $700 million.
http://www.nytimes.com/2006/08/18/business/18trader.html?ref=topics
Martin Armstrong
Ex-Money Manager Stays in Jail for Contempt
By BLOOMBERG NEWS Published: November 28, 2006
Martin A. Armstrong, the former money manager imprisoned for almost seven years for contempt of court, will remain behind bars for defying a judge’s order that he turn over $14.9 million in rare coins and gold bars in connection with a federal lawsuit.
Yesterday, the United States Court of Appeals for the Second Circuit, in New York, upheld a decision in 2000 by Federal District Judge Richard Owen jailing Mr. Armstrong for failing to surrender the assets.
The Securities and Exchange Commission and the Commodity Futures Trading Commission sued Mr. Armstrong in October 1999 and ordered him to surrender the gold bars and rare coins to the government; Mr. Armstrong has maintained he does not have the assets.
The ruling has no direct impact on a related criminal case against Mr. Armstrong, 57, who pleaded guilty in August to a federal conspiracy charge stemming from what prosecutors said was a $3 billion Ponzi scheme. He faces up to five more years in prison when he is sentenced in that case in January.
“Fifteen million dollars is a life-altering amount of money,” the three-judge panel wrote in its 58-page decision issued yesterday. Mr. Armstrong may conclude “that the risk of continued incarceration is worth the potential benefit of securing both his freedom and the concealed property.
http://www.nytimes.com/2006/11/28/business/28trader.html?ref=topics&_r=0
Old stuff there. Hey, ya think Armstrong is worse than Jon Corzine? Or, how about Hillary Clinton and her fake foundation? They could do some time.
Curious, if the Federal Reserve did not exist, what entity would be responsible for the scope of their activity and how would the activity of debasement/adding liquidity or reducing liquidity be managed?After all human behavior has not changed in over 3,000 years based on the writings of the Bible, Torah, Aesop, Cicero and Bill Shakespeare. If congress was responsible it would be worse based on the infidelities of their over spending and current debt levels.
Many of the founders wanted the free market restrained only by the rule of law to control the supply and cost of money; with the treasury merely acting to ensure the coinage was of a weight and purity described on its face. The last thing they wanted was any group, elected, appointed or otherwise to have full control over the supply and cost of money…that would be called tyranny.
Nice comment Al,
When you say “soon”….This Fall ? Just curious..Thanks
Darren: It has already started. This will be on going! Not sure when the cracks break wide open I’m told it’s interest rate and the collapse of the derivatives markets that start the world collapse!
NOTE; HEAR WHAT THE POPE SAYS THIS WEEK IN THE USA. HE WILL ANNOUNCE THE “NEW WORLD ORDER”! THE POPE IS PART OF THIS- REMEMBER HOW HE CAN TO POWER- HE WAS PLACED THERE BY THE ‘ELITE’S”. HE IS A COMMUNIST!!!!!
This entire decline actually started when America stopped backing our currency with gold. How could anyone really believe that a piece of paper with a few strokes of ink on it could be of any real value….Maybe we should all go back to using seashells to trade with because at least they are pretty to look at.
I remember that day in the 70’s and just shook my head and knew, even in my stupid early 20’s.
Talk about a “shocking hair cut” … those people who invested a million dollars in gold at say $1500 dollars per ounce and then left the 666 ounces “in the hands of others” to store for them … will be in for a sad surprise when they get back only 6.66 ounces of gold … in order to just “break even” and get their million dollars back … gold will have to rise to $150,000 dollars per ounce … now what if gold only goes to $50,000 dollars per ounce as Jim Sinclair says … by leaving their gold “in other peoples hands” will result in a 66.6% “hair cut” … and that is even after a profound rise in the price of gold of 44 times its current price.
And as Al says “it will be down from there” because the 6.66 ounces of gold at $50,000 dollars per ounce will be $333,000 “in depreciated dollars” … if the world jointly depreciates their currency by 50% the $333,000 dollars will only have the purchasing power $166,500 … so the total “hair cut” for leaving your million dollars in gold “in other peoples hands” is a loss of 83% on your original investment after gold rises by 44 times its current price … as gold investors anyone allowing “others” to hold their gold are really dumb loony tunes!
On this we agree, letting others hold your metal is really stupid, including safety deposit boxes!
Now if these loony tune gold investors “were smart” and held their one million dollars in gold “in their own hands” and did not store the 666 ounces “in the hands of others” … when the gold price eventually goes to $50,000 dollars per ounce as Jim Sinclair thinks it will … their 666 ounces would be worth over $33,000,000 “million dollars” (in inflated currency) instead of $333,000 “thousand dollars (in inflated currency) … their deflated currency would likely have a purchasing power of over $16 “million dollars” (a gain of 16 times their original money) rather then only $166 “thousand dollars (a 83% loss on their original million dollars) … all because they did not want to hold gold physically” … in their own possession”!
Paul: gold is the only real money- Don’t forget – as money collapses it will take more of it to buy gold/silver. You won’t be hurt with the metals. “currency= If it’s printed on paper, it’s only worth the paper it’s printed on!”
If money isn’t around-worthless- how much is gold worth??
$50,000- or $1 million. BUT, it will be the only real money- the elite know this- they own it by the tons.
Paul?
What percentage of the world’s population own gold?
Diane: In the USA less than one % own gold/silver. Those that own it- have usually a lot of it!
Other parts of the world – gold ownership is much higher- they know what real money is! Just the stupid “west” has been taught the currency lies!! See this: –
Money vs Currency – Hidden Secrets Of Money Ep 1 – Mike Maloney = there are 4 or 5 parts to this series- have the kids see this-
Money vs Currency – Hidden Secrets Of Money Ep 1 – Mike Maloney
I have gone through Maloney’s series…the BEST education I have received about money vs currency
I’m in Bulgaria, most people have some gold here in the form of jewelry, it’s customary to give on birthdays etc. And I know people use it in pawn shops if they need cash to handle something. I’m not sure how big the market here is for buying coins and stuff. NOBODY sells silver, just not worth it.
I decided not to focus on precious metals because a) I don’t have enough money to do it and b) i concentrated on living self sufficiently. So own home in a village with 1/2 acre, grow own stuff, have chikkins, wood stove, wood, etc. I may regret later that I didn’t buy gold, but for now it’s what I thought was best and it’s better than nothing.
it won’t be the closure that will kill you…it will be the re-opening!
There is no doubt there is at a minimum a retail silver shortage. As supplies tighten, waitlists for silver grow, delays lengthen, premiums rise, mints go on allocation, the price of silver drops.
Here are four potential explanations for why the price of silver is not rising as supply runs ahead of demand:
https://smaulgld.com/is-there-a-silver-shortage/
The physical supply demand dynamic has been hijacked by the paper markets with an assist from the complicit main stream media that turns out a daily raft of anti gold and occasionally anti silver stories.
Meanwhile thousands of tons of silver are imported into India, some of it from the US- how come they can’t use that silver to mint SILVER EAGLES which they are required by law to mint to meet demand?!
Good stuff smaugld. Thank you for posting it here.
Greg
er I meant demand runs ahead of supply!
Great input- correct- silver will out perform gold coming soon!
we have no silver for delivery at all closer in than two weeks!
Wat about the gold supply situation? Marshall Swing at Silver Doctors gives the impression of two days–perhaps slightly more.
I have no doubt that Bill Holter will be proven right; his message has been consistent throughout and I think we’re seeing it play out now. When you begin to hear MSM pundits raising similar concerns about Fed actions and the hole they’ve dug, you know we’re nearing the cliff. Bill Holter, Peter Schiff, Gordon Long, and Greg Mannarino, among many others interviewed on UWD sounded the alarms long ago. Thanks Greg for bringing all this together on one site.
it would be best if I am wrong.
Bill, as most of the (excellent) information coming out through Greg is understandably US$ centric, as an Australian I would be appreciative of your view on the collapse effect on the AU$. Supposedly, the Australian ‘Government’ (which is a corporation registered in Washington DC) has a puny 79.9 tons total of gold that is being stored in London(!). Also, would the presence of the Perth Mint have an effect on the revaluation of the AU$ advantageously if currencies will be ‘revalued’ according to their backing by gold as predicted by Jim Sinclair (thank you Bill).
Bill thanks for coming on again. As long as there is no other alternative to the paper, cant the printers keep things going for a long time ? I understand confidence is a big part of the present situation. Gold and silver is just another metal if no one uses it so in hard times it would be used less. I hope I explained this question right.
Hi,
I’m no Bill Holter, but I would like to take a stab at answering your question, by giving two reasons why the printing scheme will eventually fail. (And, don’t overlook the fact that the printers already HAVE kept it going for a long time.)
First, consider the idea put forth by Jim Rickards about the failure to properly assess risk. The big players in the monetary scheme have failed to properly hedge against risk because they’ve failed to identify its magnitude. The shining example for us to all see is AIG, which, had they failed as G-S’s counterparty, would have brought down the system already. Now, metaphorically speaking, everyone is everyone else’s counterparty, in large part due to complexity, and Rickards’ final snowflake will soon fall.
Second, consider the nature of “printing” currency in the first place. Behind all currency is some debt instrument. Once debt instruments cannot be serviced (for any reason, such as economic weakness or sovereign bond crisis), they become less valuable or worthless, and hence add more heat to a deflationary collapse. However, one could ask, could the central banks just simply continue to increase their respective balance sheets, and gobble up any and all bad debt? Maybe, but it doesn’t seem to be in their best interests to do so.
Occasnltrivr. You make a good case for the future unusable dollar. When It don’t benefit the banks and the few they service (the master control) they will likely find another road to take us down .
Occasnltrlvr on the second read I realized that is a really good answer. Thank you.
I agree that the perception of the strength of the dollar is formidable. Two entire generations, and now a third is being raised believing that the dollar is always, and always will remain, supreme among the fiats. That in itself has been an on-going psyops game for forever! The only way to wean people off the dollar is for there to be a false flag to blame taking the whole system down on. And that would probably be a precursor to war. Otherwise, those raised believing that a fiat currency is a good currency to have will probably just switch to the next strongest fiat… Maybe SDRs or bitcoin???
Right Anne, But instead of SDR or bitcoin more likely depopulation and a gold back currency. Both the SDR and Bitcoin are destructible with a flip of a electric switch. Whatever serves the banks best will be the next currency. My question is if they want to keep the present currency they have many tools to keep things the same or even worse. I see dollars as soldiers in the war. They only get replaced when they die, or are unable to perform.
I agree
my pleasure JC.
Short story. After my dog spoke to me saying there is someone outside I went to my back yard with my 12 gauge. shined the teck light only to see nothing was there. Slapped the chamber on the 12gauge and the sound told me there was no shell in the chamber. My question was answered. There out of shells in the guns. What good are they???
JC, my shotgun makes a decent crudel. I suggest a trip to the store to buy some more shotgun shells.
LOL You got me there. My storage is full, but my shotgun was empty. Too much fun play.
Greg, Great interview with Bill! Always look forward to his views. Both of you are right….It’s going to be beyond ugly. People think I’m crazy stocking up on the basics so I or my loved ones don’t need to go to the grocery store. Those stores will be deathtraps as far as I’m concerned. Once the system fails….EBT cards are turned off and people are going to freak out like nothing we have ever seen in this country. Law enforcement will be over run with 911 calls and they probably won’t even respond. My advice to the average person is 3-6 months worth of food, 6 months paid in advance on all your utilities, cash on hand in 5’s & 10’s, vehicles always gassed up and just stay home until the reset in complete. Thanks again and thoughts would be appreciated..:)
You are correct- law enforcement will be home protecting themselves and their loved ones! You’ll be crazy to be out and about anywhere! If you go- just wear the bulls-eye on your back!
rich, middle and poor will all be in the same sinking ship. The ultra rich have already purchased private islands to store their gold, silver and supplies on.
Paying utilities in advance may be a total waste of money. Do you think the employees of the utility company are going to go to work when there is no way to pay them? Would you risk your life driving down the street to get to work or to repair the cables when gangs are roaming around looking for anyone to rob? Where are these workers going to get the gas for their vehicles? I think that the only people to go to work will be the “officials” such as the police, homeland security, national guard, etc. because the elites will have made sure their families are secure and they will have a way to “pay” them….possibly giving them food, etc. in place of currency. The power company that serves my area is fired by coal. Ships sail up to this huge conveyor belt and the coal is sent into the plant. If commerce dies, as Bill says, where are the ships going to get the coal and who is going to man the plant? I’ll just trust in my solar panels and my natural gas generator. I have enough solar electricity to meet my very bare necessities if I cook in the fireplace and sleep when it is dark. I’ve stored books and lots of DIY plans on USB drives and in my laptop so I will have something to do during the day. I’ve set up a perimeter alarm system around my property for security. I wish I had a big dog, but my two cats wouldn’t like that!
Calgirl………In my area of the country, even if employeess don’t show up, the power, gas & water remain on as long as you have a positive balance to your account. I have a wood burning stove for cooking and heat, so no problems there. Have a huge library in my Den to keep me busy. Haha
Darren that is so funny I laughed so hard I had to tell it. Get you some wine and read a good book.
Please arm yourselfs…
even if its just one hand gun gun with a few dozen bullets….if the mob sees you are armed they will go to an easier target….
September 28th signals the beginning of the collapse. You may not believe in blood moons. But believe me when I tell you this. The men who have controlled empires for centuries do. https://youtu.be/OO9g2-LRajI
Greg the COMEX is empty! The western banks will not be able to hide this scam much longer. The “Chinese Gold Price Fix” goes active next month, and when its does its game over. There’s nothing left for the bankers to bride the Chinese with. They will pull the plug on the dollar. Devaluation of their currency was just the beginning phase of decoupling from the dollar. I advise everyone to make final preparations now.
I still can’t believe what I’m seeing. What are the symbols on the side of that military transport truck?
https://youtu.be/i6qQryuV8vE
Jerry, In summary, the Red Crescent is basically the Red Cross for Muslim Nation.
In order to avoid “semantic noise,” the International Red Cross uses the Red Crescent name and trademark in some Arab World countries that have a predominantly Muslim population.
While the emblem [red cross] has no intentional religious meaning, the symbol reminded soldiers from the Ottoman Empire (modern-day Turkey) of the crusaders of the Middle Ages, and so in 1876 they began using a Red Crescent instead.
http://www.logodesignlove.com/international-red-cross-logo-design also see Wiki for more detail.
I saw it, some crazy stuff. I am not so sure that would be left unattended or unmolested here in Texas.
Cern collider mixed in the last hour of the blood moon controlled by China. LOL I don’t know.
Jerry. I am able to see apx 5 years in advance. I see Russian troops talking to me in English in 5 years. I have always been able to see about 5 years ahead. Except for 2008 happened 5 years before Mom died. Russia has a plan. Singed by Obama. I can not prove it but I know it. Russia will soon be on American soil as owners. I know it will be.
Greg, if Gold doesn’t really matter anymore then why did Goldman Sachs do this?
http://seekingalpha.com/article/3421396-the-big-long-goldman-sachs-and-hsbc-buy-7_1-tons-of-physical-gold
Do you think maybe they know something is afoot?
If we reset I can’t imagine coming out the other side with actual cash being legal to use. I can imagine being told to turn it in and account for it. It would be the ultimate bail in. I just have the strong suspicion that we will move to a digital currency and we will all be in the new modern company store. Total control. Any thoughts out there?
I really think you are onto something there mate. When you look at how our society is becoming less focussed on cash purchases and more on paypass/paypal and general credit/debit purchases one can’t help but wonder if cash will mean anything in the near future.
I have heard many stories where Banks would refuse to let you withdraw large sums of your own money from accounts as if it was their business in the first place? Remember cash doesn’t benefit banks or corporations outside of the retail sector.
World Digital $$$ is their agenda, People are blind if they can’t see it
Well, I’m thinking that smart people would have already drawn their cash before the banks say you can’t have it. (of course there’s no telling what percentage of the population is smart). And I imagine it would be difficult to monitor people using cash for transactions among themselves.
Also, if as Bill pointed out, you won’t be worrying about your mortgage payments, but about food, in that scenario there would be so much chaos, that banks wouldn’t even be there for electronic or other transactions. I might be wrong though!
I agree with you eddie. This was revealed years ago when they called it the “Amero,” the unified currency for the Americas. There will be an exchange of up to 100:1 USD to Amero or whatever they decide to call it. So $100 will exchange for 1 Amero. Then they will want to revalue your debt into the new currency. This is part of what Bill was saying. It’s the reopening/revaluation that will kill everyone.
Of course we could revolt.
Eddie.
Food for short term position . Gold and Silver for long term. Digital currency may have been a plan by western banks, but the Chinese will never go along with it because of all the theft.
it could be anything from here in an anything goes word.
It’s interesting to note, that in China most people “only” use cash. I’ve lived there the past three years, and it was rare to find an actual cashier that accepted debit card. It’s quite typical to wait 10-15 minutes in line at an ATM and the ATM would run out of cash. Actually, at my first job, I remember this ATM being out of money about 20% of the time. The second job, was much rarer and in a more developed place, however; still most stores only accepted cash.
And I used to do surveys in my class. One of the questions was who had a credit card. In over three years of teaching university courses to thousands of students, I never had one student who had a credit card.
Oh one more thing. I did notice one thing interesting towards the last few months in China. One thing that had caught on and started to replace cash was Alipay. More and more students were using their phones to purchase drinks at Machines.
Here are the details on the Morgan Stanley charging customers to store precious metals they never bought for them
Morgan Stanley “Sells” Precious Metals to Customers, Charges Storage Fees But Has No Precious Metals When Customers Request Delivery
In a law suit filed in 2005, Morgan Stanley was accused of selling clients precious metals that they would own in full and that Morgan Stanley would store for them.
The complaint alleged that Morgan Stanley either “made no investment in precious metals on behalf of its customers or it made entirely different investments of lesser value and security”.
Morgan Stanley argued there were no violations of law and no default or failure to perform or deliver precious metals and stated. “While we deny the allegations, we settled the case to avoid the cost and distraction of continued litigation.”
Morgan Stanley argued there was no failure to perform even though no precious metals were delivered to customers requesting them.
More gold and silver true story manipulations here:
https://smaulgld.com/gold-silver-manipulation/
So what happens to home mortgage payments and car payments after the “reset”?
My mortgage payment is currently $1,865 per month and my car payment ( dodge hellcat) is $1,340 per month. How high could these go? Opinion please Greg…..
Mushoom,
The real question is will you have an income stream to make the payments. I hope you do.
Greg
Well Greg maybe the reset will be a good opportunity to just leave it all behind. I think maybe this reset is going to reset a lot more than just the financial markets.
Greg,
How do you think the employment situation will be? I’m lucky enough to be in the manufacturing field, so maybe I’ll be spared, but what about other area’s of bussiness?
Darren,
What we face has never been faced in recorded history. This will not be some little downturn or recession. Do everything you can to prepare and pray. “Fear Not.”
Greg
check out revelation chapter 18 for what lies directly ahead. all economic activity is coming to a screeching halt along with a days wages for a loaf of bread. a hyperinflationary depression lies immediately ahead.
Better buy a big sack of flour, some yeast and baking powder. Then build a solar oven….plans on Youtube.
if the reset is minor, then nothing will change; if the reset is major, you could be asked for payment in full – but this is the most dire of situations … I sense it could depend on where you live, and how well the economy is doing there (have you seen re-investment in the area, or not?); some areas will feel the pinch less than others ~
nothing from here on in will be “minor”.
Just my opinion:
In an economic collapse there are NO banks open, no ATM’s working, no grocery stores open, no gas pumps working, no way to pay house, utility, credit cards, anything. The economy stops dead in its tracks. Then when the reset occurs and the banks reopen (maybe 6 months later) , they will probably notify you of how much you owe in the new currency, how to pay and what to pay with. That is what we must prepare for, as best we can. Plant a tomato seed in a pot and place the pot near a window.
It depends on what the terms of the contract are. Mine don’t have a clause permitting a call unless I default. Sure isn’t any for a reset. If there is, I’ll send them a stack of the worthless notes.
Deflation or inflation? Before, we have the world the finger and cut our public debt by nearly half, but it was all based on gold, a real asset. Our money is based on debt slavery not just for our generation, but for many generations after. What happens when the slaves revolt?
I’ve seen predictions of 100:1 to exchange to the new currency. So your house payment would be revalued at $186,500.00 per month USD, or it would remain the same in the new currency. Problem is what will your labor be worth in the new currency?
I used to talk to my grandmother about the Great Depression. After a time, they instituted a moratorium on foreclosures. No one had the money to pay. The banks had more properties than they could handle and it was better for them to allow people to remain in their homes and defer payments rather than take the asset. I wouldn’t count on that this time around. Could be the Chinese want to take possession of what was leveraged. We just don’t know. This has never happened before on a global scale.
Mushroom,
I didn’t even know what a Dodge Hellcat looked like so I binged it. They say that is a $60,000. car. You must be making in the 3 figures to afford a car like that. You must be living in a mansion if you are paying $1865.oo per month. Either that or you are in NY. Gad Zooks!!!! You are almost paying $38,000.00 a year. I’m glad my car an house are paid for. Good luck!
Did you see the “house” in San Francisco? Less than 1000 sq. feet, a fixer-upper, listed for $375,000? https://www.redfin.com/CA/San-Francisco/1463-Thomas-Ave-94124/home/1447545
Or this jewel 605 sq. feet for $320,000 https://www.redfin.com/CA/San-Francisco/1206-Shafter-Ave-94124/home/1981187
I bought a rental as an investment in a not so good section of San Jose for $200 K and sold it 8 years later for $600K. I then moved to Florida…..but wish I had moved to Texas…land of the freer and home of the braver.
A car note that’s $1340 per month are you crazy???!!!
Wow Dude. Guessing you have a great job. Congrats. The question you should be asking is will you have a job?
And what will your future be ( if you get there ) ?
== Pondering the Imponderable ==
who decides whether
my reality is more
nearly real than yours;
and why does it matter now —
in our trancelike delusion?
— Larry W. Bryant (20 Sep 15)
The only thing that matters is that God “is real” … his/her consciousness existed before space, time and matter … so your consciousness Larry is as real as mine and both as real as God’s … as we are both a part of God’s consciousness … before the Big Bang there was “nothing” … but that which we mistakenly call nothing “is God” … the only true reality … thus our consciousness of ourselves, the Earth, each country, Israel, etc. are part of God’s consciousness and will exist forever … https://www.youtube.com/watch?v=9rbO8JxP4hg
Very Good… Cause and Effect have been suspended for an indefinite period.
Greg,
Great interview! Thanks for bringing us the best news.
Here’s the real story behind the FDIC:
https://drive.google.com/file/d/0ByBRN6ODS_7EcDRpekNnYmx3TnM/view?usp=sharing
I have been seeing the steady disappearance of some items that were weekly buys for me. I inquired about them and was told they would not stock this or that but would order for me personally. I’ve had to haggle to get vitamins, certain foods, cat food, etc., things that were standard stock items.
I explained to my neighbor about silver paper, gold paper. He understood and got real quiet. I give him cash for handy work. I can no longer buy coins as I tied up most everything in same and now go paycheck to paycheck. At least I am largely out of paper.
My sister, a big honking liberal, social worker to boot, just stole the entire inheritance due to the other 4 siblings. Mom left my sister the house and 20,000 cash up front. Mom’s bank account amounting to over 100,000 was emptied out while my mother was still alive. There was also 100,000 cash in mom’s bowling bag (seriously). Mom was shoved in hospice and none of us knew. I got a call several days after she died.
The rest of us got a copy of a will that was meaningless, turns out. Celente has said: “If you don’t have possession, you don’t own it.”
My riches were my mother’s time on this earth. There is no amount of money that could replace her. I miss her humor and her sharp mind, a very savvy woman.
If family will exhibit greed like this, imagine when it comes down to food.
Powerful and moving stuff there Donna, Sorry for your loss and as for your outlook you should be commended that true values have not left your spirit.
We have been taught to be self minded and greedy and willing to shaft even the closest people to us in order for our own gain or pleasure.
These minded people will see whats coming to them in very soon to reveil itself times. Be safe, prepare and good luck from Oz! 🙂
Really feel for you DLC, You’re right ‘a wo/man’s enemies are those of hers/his own household’, even as you stand to hold the pearl of great price, (1) with memories of your mother, and (2) through being savvy with sites like Greg’s. Here in the UK just about everyone I know is in a deep sleep, which will make things unimaginably bad when the tsunami hits. ‘Fear not’ to quote our Lord and of course Greg! Andrew
Andy I wish there was a like button. Loved it. The sleep you spoke of is the same as strong delusion the Almighty is sending. The bible cant be all wrong. https://www.biblegateway.com/passage/?search=2+Thessalonians+2%3A11&version=KJV
Donna,
Sorry to hear about your Mom. After my Dad died, he was blind and had dementia I took care of my Mom. At first she was fine…COPD…always on O2. Buy little by little she started going down hill. I was put on her account at the Credit Union and my other brother was on her checking account, as we were the only ones left in Arkansas. The other siblings all over the country.
When she died, my oldest brother was the executor of the will. We voted whether to sell the house or not…They voted yes. Mom and Dad had made a list of things they wanted each specific sibling to get. I will say that when we read the list of things my parents left us some of them were doubly listed on at least 2 siblings list. We did not fight… we squared it away. We were very civil. Sorry about not getting what your Mom wanted for you. Just remember what goes around…comes around.
One thing they were not prepared for was an annuity my Mom had. My Dad took it out with my brother-in-law, who at the time was working for a company that did that sort of thing. My Dad made me the beneficiary of the money. The other siblings were highly chapped and wanted the money. My oldest brother threatened to give me less when the house sold. I told him I would take him to court. They could not touch the money that Mom had in the Credit union, because my name was still on the account. My Mom promised one nephew $1,000. when he graduated from High school. The other sibling’s children didn’t get that much, because they were so much older. They were highly chapped about that. I told them when I received my full amount from the sale of the house I would give the nephew his money. I would then divide the rest of the money and send them each equal shares.
As I was the one to care for both of them for years I figured it was my Dad’s way of saying thank you. I took care of him when he was in the nursing home and hospice. Took care of my Mom in and out of the hospital and through hospice at home. Again so sorry about your Mom. One thing no one ever told me was that I would still dream of them. It has been 5 years for Dad and 3 for Mom and I am still seeing them in my dreams. Take care.
.
…a big honking liberal. Sorry to hear this, it is not for us to judge. May your mother’s soul rest in peace.
Sorry for your lose sister Donna. People show there bad side when bad things happen. I forgave for my own soul sake.
Greg, i love this guy, and your blog. Mr. Bill Holter mentioned the FDIC: I believe in the Cromnibus Bill , last December, Citibank slipped a page into the bill, that any DERIVATIVE losses by the TBTF, would be insured by the FDIC. Nicely done at the 11th hour, one day before the bill was passed. MY guess is about 100 Trillion in gambles are now ‘backed ‘ (LOL) by the FDIC. Mr Holter may have been generous in his estimate of FDIC reserves VS. their liabilities.
I respect my spidey sense that this will not end well. How badly it ends is the issue.
I believe in preparing for the worst scenario…that way i laugh at myself later, rather than rue the day i didn’t buy the extra fishing line and hooks, the wet stones and extra matches.
FEAR NOT. Organize your neighbors, store food and water, arm yourself, and see to your loved ones.
Thanks Greg. You are a charming man . You say you have no ‘Pedigree’, but i beg to differ. Your ancestors built this super democracy, and it is you and people like you who will restore a perhaps more humbled version.
Yes sir James you are correct. Bankers and Congress both partners in crime against the American taxpayer.
Greg
Estate tampering is about as serious a type of trouble you can get involved. 2 lawyers I know of in my area have gone to jail for tampering. Judges readily understand what has happened making it easier to prove than some other offenses.
Maybe Texas has it right………..secede from this criminal union
James,
Derivatives and any losses from them are NOT INSURED by the FDIC. Only deposit accounts, like checking accounts, savings accounts, CDs, etc… are FDIC insured up to $250,000 per depositor, per insured bank, for each account ownership category. Financial instruments like stocks, bonds, etc… are also not FDIC insured. Just because these financial instruments are traded in an FDIC insured bank does not mean that they are FDIC insured.
https://www.fdic.gov/deposit/deposits/
If any of the Global Systemically Important Banks (G-SIBs) becomes insolvent then bail-ins and bailouts would be in order. The current bail-in plans included shareholders, bondholders and uninsured deposits. Insured deposits are not included. However it is still possible that insured deposits could also take a haircut in the event of a worst case scenario happening. While the FDIC insurance fund is inadequate to cover a very major loss, the FDIC does have the authority to borrow from the Treasury. So the government will very likely print money before insured depositors take a loss. This is why some people recommend that if you have money in the banking system that you should look to have it in a good community bank or local credit union and to keep it well under the FDIC limit. Others say just to have in as little as possible, usually meaning enough to cover a few months of living expenses.
JMiller, you may not be correct about derivatives and FDIC. Please refer to ZeroHedge article, titled “Presenting The $303 Trillion In Derivatives That US Taxpayers Are Now On The Hook For”
Quoting it, “Courtesy of the Cronybus (sic) last minute passage, government was provided a quid-pro-quo $1.1 trillion spending allowance with Wall Street’s blessing in exchange for assuring banks that taxpayers would be on the hook for yet another bailout, as a result of the swaps push-out provision, after incorporating explicit Citigroup language that allows financial institutions to trade certain financial derivatives from subsidiaries that are insured by the Federal Deposit Insurance Corp, explicitly putting taxpayers on the hook for losses caused by these contracts.”
http://www.zerohedge.com/news/2014-12-12/presenting-303-trillion-derivatives-us-taxpayers-are-now-hook
markp,
The ZeroHedge article correctly says that US Taxpayers may be on the hook (bailout). It does not say that derivatives are now FDIC insured. Everything that I said in my original post is correct. What happened was by allowing the banks to once again trade the more risky derivatives in an FDIC insured institution, it increases the likelihood of a bank incurring very large losses and becoming insolvent. The FDIC insurance would be used to cover any shortfall in insured deposits which would be considerable. For the TBTF banks, bail-ins and more than likely a taxpayer bailout would be necessary.
yes, on the hook now for multiple $trillions more than deposits.
Bill,
I have listened to a lot of Greg’s interviews and have heard everything from what you say all the way to “all debt will be wiped away”! I have also heard that Obama already has an Executive Order in place to “freeze all mortgage payments for up to 2 years” until things get back to the “new normal” I know no one has a crystal ball…but realistically, how long of a time period from the collapse to the Great Reset to be implemented? Thanks and God Bless…:)
http://www.trumpetersmission.com/MapofInvasion.php
George Noory used to have a guest named Fr. Wingate. Don’t know what became of him. I look at his website from time to time and compare it with current events.
Above is a US invasion map. There is also a “Chronology of Events” that is interesting. His timing is off but those issues he addresses somewhat parallel what is currently happening.
….missed something in my last missive.
…I can only speculate that the Congress passed the bill, knowing the the US was bankrupt in any case, and whats a few Trillion more? It’ll all be washed away in the reset!
Why people have not taken delivery of gold “held by others” is beyond me … they know they will only get back one(1) ounce for every 100 ounces they think they own “if they are are lucky” … so why are they sitting on their hands … the gold market has been made into a fractional reserve system by the bankers … do they know what “fraction” means? … it means they will get “a fraction” of what they own when they demand it … like in the game of musical chairs only the first ones to act will get their gold … the rest will get nothing but paper … as for the market crashing in the next month or so … I don’t think it is likely because Japan is doing QE … China is doing QE … The EU is doing QE and the US is doing “stealth” QE … currency is being massively devalued worldwide … this means the nominal value of stocks will be worth more paper dollars … which could in fact drive them higher still (in nominal terms) … so we could soon see the Dow at 18,500 … the S&P 500 at 2,200 … and the NASDAQ at 5,500 … we can even see the oil price move up to $85 dollars (in nominal terms).
Once worldwide devaluation of paper currencies becomes exponential … the inflation of worldwide currencies will smother the deflationary flames … the bankers like firemen pouring water on a fire will just pour more and more currency on the bad debt and derivative fires … then when “inflation” is recognized and given priority over debt deflation the Fed will have a more valid excuse to raise rates … since the Fed knows exactly how much currency they have printed and how much Japan, China and others have and will be printing (that making up most of the worlds GDP) “they are getting nervous” and want to begin raising rates … but will error on the side of delay until it becomes overtly obvious to ordinary people who find food and energy prices skyrocketing in depreciated currency terms and will demand a better return on their bond holdings and will call for COLA increases to their pension and Social Security checks … increasing rates will push up COLA payments and take some pressure off the politicians running for office in 2016.
“trusting”, sleepy or ignorant take your pick
Bill tells it as it is. I love listening to all your guests.
Greg, wholehearted thanks for having Bill on.
It strikes me that of those we Watchdoggers follow — Bill Holter, Egon VonGreyerz, Jim Ricards et. al., all are in agreement about the fact we are on a collision course with mathematics, and the current global financial system is destined to come apart, that we need to prepare now, and that the precious metals are wealth insurance.
But what differs is the time frame … Be it a quick 48 hours ( a bank holiday followed by capital controls and/or bail in , then a re-set) or months and years of unwinding and collapse ( as Egon and James Turk suggest over on King World News). I guess Bill is saying it is better to be a day/week early than a minute/day late. Ear to the ground and all that, nimble and ready to act ….
2+2 will always equal four in my world.
Hi Bill.
Please do not confuse the MSM BS with 2 plus 2 logic.
If the sheeple used logic in their thought process this would mean that everyone would get what we are trying to say here.
Your down to earth logic style of writing is a jewel in the muddy river of communication.
Even with all this BS bombarding us from MSM we still can make sense of what you say.
Thank You for all that you do and DITTO for you Greg.
time is short now I suspect.
Greg,
If we support the policies of the rich and powerful like Donald Trump, then they will take everything from us. There is only one true leader that wants to help the common people and she wants to help us in the worst way. She wants to bring back civility and honesty and a sense of community. All this talk of intrigue and cant trust your currency and we hope the banks dont close helps noone. Lets all stand up for Hillary Clinton. We can count on Hillary to fight for us and to bring back the America that we all love. I think every American needs to ask, “Do you love America?” Do you love America enough to stand by her and elect Hillary Clinton to the high office of President of the United States ? Do you want a new American Century where all Americans can prosper ? Do you believe in America ? My friends, if you believe in America, lets support Hillary Clinton to restore our virtuous country. Let us sanctify this great land of ours.
Gina,
Give it a rest please. I guess you did not hear about the national security issues and Hill’s private server?
Greg
Greg,
Gina is part of the “bought and paid for crowd”. Dont give her any more of your valuable time. There is nothing impartial or meaningful in anything she has to offer.
How on Earth can one use the word “virtuous” in the same sentence as “Hillary Clinton”??!!
Touche
What an unlikely place to find a supporter of Her Thighness, the Duchess of Chaffington!
How, exactly, would supporting a murderous, lecherous, criminal demonstrate a love for America?
Well said comrade Mancarella.
Actually, what our great country really needs is a strong leader ready to take the fight to the enemies. Far too many rivals in the evil block have become emboldened due to our muslime president. Whoever is elected will have his work cut out for him.
It wont be Hillary unless CFR approves. She would have to agree to a fourfold increase in military spending and concede to the Pentagon agenda which she wont do unless they feed he elite wall street flock first. I’m banking on Bush or Trump. Either one will suffice.
So what we need is more bombing of sovereign nations and the shedding of innocent blood? How’s that been working out for the past two generations? How did a country of so-called ‘Christians’ become so bloodthirsty?
The problem is that we need to have decisive wins. In Iraq, we went over there and pussyfooted around for several years and followed up a mild military campaign with a PR campaign. Thats got to stop. The bad guys laugh at us for this. The way we win is we go in and lay complete waste to their homes, businesses and kill most of their people. This is imminently achievable with the weapons we have now. Obama should be calling for a knockout blow to Isis, Iran and North Korea and Russia among others, but here we are left waiting cooling our heels. I think Trump or Bush will do a much better job enabling the military to do its job and deal with our foreign enemies.
Airman Rich
All of these wars were not fought for righteous reasons, IMO. They were waged to stop these countries from trading oil for currencies other than the almighty petrodollar. We continue to go around the world waging wars, killing millions of our own and their citizens. Is it any wonder that the world dislikes, distrusts, and laughs at us? Is it any wonder that they want to kill us? There is nothing righteous about these wars!
And TO STEAL THEIR GOLD.
USAF Airman,
A knockout blow to Iran , North Korea and Russia? You’re insane.
This Hairy Guy lived in Arkansas back in the day when the Clintons were in the Mansion. She was a bonehead then and hasn’t changed one iota! Note I didn’t call her a brainstem.
She’s too smart and cunning, and carry the nonsense of socialism to its painful climax, even if she doesn’t see the inside of a prison cell as she deserves. Besides, if Obama has done such a good job with his (insert sarcasm) incredibly transparent administration, successful implementation of the “Affordable Health Care Act”, and having reintroduced Unicorns and Rainbows for everyone, (sarcasm ended) why smash the doors in further with someone even more inept? Got news for ya, sweetz. Humpty Dumpty has fallen and he ain’t comin’ back together, Hill or no Hill. She can’t possibly do it as she will be an uber- Janet Yellin.
Thanks for the laugh.
What is even funnier is that there are people who believe this. I have family members who support the Clintons.
You are delusional. Dare I say the C word- Clintion! She is the closest thing to Joe Stalin since Stalin. In short, a megalomaniacal, paranoid sociopath bent on power and money. She will enslave you along with the rest of what’s left of the middle class. The left always restricts and controls for the elite. Whether it’s Cuba, N. Korea, the old USSR, Zimbabwe, ad infinitum. Other than the so called “leaders”, who else has a quality way of life?
Open your brain and eyes!
Gina/Jim
Bugger off!!!! I’m tired of your stupid and moronic comments. Go to the bathroom mirror and tell the person in the reflection all you want.
Gina – we should all vote Hillary for Prison 2016.
I beg to disagree with you. The slain American patriots of Benghazi loved America, I’m sure, and look what happened to them under Hillary’s protection.
It has been prophesied that America would elect a evil female president before the return of Christ. got any clues who that might be?
Gina, please, you really cannot have read or watch any of my work. If you have, you surely must not understand it if you believe Hillary or anyone else for that matter can turn this around. Do you truly believe she is an honest woman ..with a good heart?
Gina….you are one delusional person if you think Hillary Clinton is the answer to our countries problems!!! She is a liar, thief, murderer and the most evil woman ever! The Clinton’s have done so much dirty work in my state and in his presidency. If she was taken off the face of this earth I wouldn’t break a sweat over it!!!!!
Preparing for the re-set to come?
See what Russia has been doing with regard to gold over the last 5 years …
http://cdn.tradingeconomics.com/charts/russia-gold-reserves.png?s=russiagolres&v=201509031958h
Now see what the bankers have been doing with regard to gold over the last 5 years …
http://www.kitco.com/charts/popup/au1825nyb.html
Now the question becomes … who do you trust? … the bankers or the Russians? … however it is not “only” the Russians buying gold … China, India and others “are not being fooled” by the bankers short selling shenanigans … they are also buying gold!
As for the strongest buyer of gold in the West … it is Germany … in the last quarter Germans purchased more than three times the physical bar and coin investment than the Americans did but when you consider population size:
Germany population = 80 million (bought 32.2 metric tons)
United States population = 320 million (bought 9.9 metric tons)
Germany is actually buying “12 times” more physical gold “per capita” than the United States.
gold is truth in money.
Hey, Mr. Bill,
Do you think the PPT will stop manipulating the PM’s just before they “give up” to increase the value of their stash while they scheme over the reset and the revised government?
I’ve been watching this and hearing about this situation for over 35 years. Instead of a catastrophic collapse what has occurred is a slow motion inflation that compounds itself over the decades. In other words the Powers That Be are printing money and distributing that money primarily to insiders and especially to the government to help continue the government’s welfare/warfare state racket. If the system collapses,and this may be imminent,then the question to ask is what happens when the government checks,vouchers and food stamps become worthless? I can see,like Greece,riots in the streets with masses of handout recipients and government employees demanding their “checks.” But the checks won’t buy anything. This is when the last vestiges of the American Republic will be swept aside and America will degenerate into a banana republic with the implementation of marshal law,especially in the cities. There will be no rights only obedience or else violence and gulags. And the sad part of the story is that most of the “law abiding” people will have no idea how this “could have happened in America.” But it can happen,and will.
The mark of a banana republic is contempt for the rule of law. The constitution the law of the land has been tossed into the trash bin of history. consider that our constitution says nothing but gold and silver can be legal tender. we have been bankrupt since the gold backing was removed 44 years ago. we live in the largest banana republic in the history of man and it will be coming down around our collective heads in the very very near future.
How did it collapse? Slowly at first ..and then all of a sudden!
Jerry, agree with you for the most part, this inflationary economy for the last 50 years has now moved to a long standing stag-flationary economy; a natural tendency of worthless printing fiat money. The next stage is a banana type socialist republic, doesn’t have to be a total collapse, a reset if you will, in fact when the FED starts QE4 next year that policy will continue the slog to a third world government, economy & society. The FED has no choice but to continue the fiat printing, its keeps people thinking things are kind of alright & the politicians and elite getting richer all the while the middle class shrinks. Its either a third world slow slog downward or a collapse reset, etc. I believe the FED will take the status quo slog than an abrupt stoppage which hiking rates would do. Prepare, as you said, it will happen. ab
How is this for an idea.
I’ve been thinking that the FEMA CAMPS were built for us wayward Americans. What if the FEMA CAMPS are really a centralized place to house and protect the military, Homeland Security, etc. and their families if/when riots break out? TPTB won’t need to house rioters, they will just kill us! Not such a far out idea if you remember the 3000 killed on 9-11.
With regard to the four-year-old Syrian conflict … the “pipeline” has only cost 240,000 lives of men, women and children so far … “a small price to pay” for the greedy corporations fighting over “paper money currency” that the bankers are making even “more worthless” with every passing day.
As for the “mini-nukes” set off in China … playing “hard ball” seems to have resulted in an agreement between China and the US to stop the cyber-warfare going on between them … and you see … Iran’s President Hassan Rouhani has reassured skeptical American’s that when crowds in Tehran chant “Death to America!” … they don’t mean it personally!
very curious “timing” of the explosions eh?
Greg thanks for the article
How isolated to the US do you think the reset will be?
Obviously the greenback is the reserve currency however will the full affects be global and down to every household or more of a financial pinch for those of us in countries trading in our own currency?
Down Under Observer,
The dollar is the global reserve currency and the reset will be global as well. Thank you for being one of the new commenters and supporters of this site!!
Greg
DUO if I may say. There will be no isolation. Any world currency of the past took down the country to rubble, and dissolved. There will be a attempt to revive the dead to no avail. Get stocked up on water filters and food There will be plenty of wood to burn from your neighbors home. Believe me when I say I could go much darker into the future of the worlds currency. The thing to focus on is faith in GOD threw the blood of Jesus. He will provide a way for those who call on him.
The numbers have grown just too high.
Derivatives total notional over ONE QUADRILLION DOLLARS!
Sovereign and private debt well over ONE HUNDRED TRILLION DOLLARS!
The monthly entitlement programs in BILLIONS OF DOLLARS!
These high numbers are mind blowing to the average person. I suggest the coming reset will entail wiping off “zeros” from these totals. Where 100 dollars will be the equivalent 10 cents. A millionaire will go to bed and wake up worth 10,000 dollars.
thanks for following OLI!
How to get your head around these big numbers:
If 60 seconds equals 1 minute, then…
1 million seconds equals 12 days
1 billion seconds equals 32 years
1 trillion seconds equals 32 thousand years
1 quadrillion seconds equals 32 million years
Hope this helps!
Thank you. I can understand 12 days. I can understand 32 years. The other numbers are beyond my comprehension level and are meaningless.
Excellent way to explain the unexplainable.
Good stuff Bill and Greg,
I saw that interview with Kyle Bass….actions speak louder than words…in this case the words resonated more for some reason….probably because we cannot fathom the quantity involved…. whilst the dollar value is just a bunch of zero’s which we have all become too immune to. This action does more for promoting the need to have PHYSICAL than anything ever written.
https://www.youtube.com/watch?v=lgNVNTvlpFY
I also saw an interesting interview conducted by FOX Business with Mark Spitznagel (Hedge Fund Manager). Aside from his criticism of the FED he did have some interesting things to say about interest rates (at 5.25). Just some contrarian thought processes for those curious enough to question the legitimacy of the well established heads that say no chance of a rate hike.
http://www.zerohedge.com/news/2015-09-18/mark-spitznagel-warns-if-investors-thought-august-was-scary-they-aint-seen-nothin-ye
….”Central Bank interventionism” keeping the markets alive….command style management of the economy is not working..!!!!
fiduciary responsibility.
People often ask, “what is the price of gold going to be?” But it is the wrong question. It is like asking, “what is the value of gold priced in confederate dollars, from the period of the U.S. Civil War?” The confederate dollars have some residual value as a collector’s item, but as a unit of exchange, they have no value.
Thus, the value of an ounce of gold, priced in confederate dollars, is INFINITY. All of us alive today only recall the power of the US dollar, so it is difficult for most people to consider the dollar going away, as we know it. That is why Bill’s commentary is so useful — it gets people to consider the unthinkable.
If you own gold and silver, at NO time during the crisis should you sell it. If you do, you could wind up no better than those who never had it at all. It might be priced at $10,000 an ounce one day and $100,000 an ounce two months thereafter. You must hold on to the physical metals for the duration of the crisis, until you emerge into the ‘new world’ (with a currency that is backed by hard assets).
For that reason, do not imagine that the gold and silver will be of use to you during the crisis. You must have supplies on hand to sustain daily life, along with an excess amount for the purpose of barter. Barring confiscation, the gold and silver will then provide you with a springboard once some type of stability returns.
My own guess regarding the distribution channels (just a guess), is that the US Military would take control of them and that some basic stability would return before long, but who knows. I pray every night that for our children’s sake, that I am wrong, that Bill is wrong, etc. But I fear we are right.
correct Eric.
Bill,
As a Christian I struggle with the “Gold & Silver” angle. Over and over again God’s Word declares that Gold and Silver will be worthless in the End Times. People will throw it into the streets. How can one have a good balance on the issue? Thanks…
Australia got smashed today. Big Sell off.
Get ready to hunker down, but be prepared to be mobile… You will only be able to fend off hungry groups for one good fight….after that if you survive, your a known threat and anyone coming after will be better armed and prepared.
Gold and silver will not save you after reset….once life is fully socialist and the powers that be take control, all provisions, fuel, things of that nature will be strictly measured and enforces…your fishing buddy store owner will not risk punishment because the random daily weights and measures the blackwater type contractors running your area for FEMA, your buddy won’t trade a cup of rice for a pound of worthless gold in the upcoming cashless society.
Prepare to defend until death, the mark is near
Hi Greg
On the subject of gold and silver,I find it very interesting that there is not very much comment on the price smash that starts nearly every day at 2.30 am till the big smash 8.30am US time.
This manipulation is so blatant
GATA has covered this for 15 years, no one else will touch it.
So why aren’t you all shorting the smash and making out like bandits?
Greg,
Thank you for having Bill back on again! A straight-from-the-hip analysis, as usual, and as usual, full of the things we need to consider. My own sources are indicating that the collapse/reset will come in the period mid-October to early November, not in September. I am as prepared as I can be, so am just calmly watching and waiting.
When I saw what the Fed did regarding interest rates, I knew that we cannot tell what will come and when it will come by watching the actions of puppets, such as the people who are visible at the Fed. It’s the hidden puppet masters who are pulling the strings, and once they correct some of the problems that surfaced during the Jade Helm exercise, they will be ready to pull the plug and move on to the next phase of their plan for total global control. In the meantime, this present delay will serve as a lesson for those who attach to specific dates to let go of such attachments. History is not going to repeat! The present situation is unprecedented in so many ways and nothing like this has ever happened before.
BTW, if anyone here subscribes to Caravan to Midnight, this past week had two excellent interviews with Rob Kirby and Craig Hemke (aka Turd Ferguson) that complement what Bill said here today. Rob talks about the metals markets drying up and Craig gave a particularly clear picture of how AI is ALREADY running things with the high frequency trading algorithms.– a subject Bill also talks about in his September 13 article, “There Is No Salvation For The Markets.” (http://www.jsmineset.com/2015/09/13/there-is-no-salvation-for-the-securities-markets/) We are in it and only weeks to go before it all comes down around us!
thanks NC Gal, it matters not “when” as long as you know IT is coming.
Greg, in J. Yellen’s post rate announcement she seemed worried, beleaguered and not at ease, I think she understood clearly that the FED is losing credibility, but still the FED is now talking about a hike latter in the year; you cannot make this stuff up. Let me give you my opinion of what the man on the street will see soon, aka reset, collapse, controlled or otherwise: MEXICO and OTHER BANANA REPUBLICS – folks, this system is going to implode not explode sooner rather than later. Couldn’t happen without dirty politicians and the corrupted elite.
Just so you WatchDogger’s are aware … there is Craton plate movement under Pacific … plate movement “in the ring of fire “tends to create earthquakes “in a clockwise direction” … so we do have some handle on “forcasting” where the next earthquake will occur … sort of like when Noah was warned ahead of time that the Mediterranean plate would drop allowing sea water to flood the region … similarly when the plate under south China drops (and it could happen overnight) the Pacific Ocean could flood southern China with a huge wall of water (basically a Tsunami with immense destructive power) … https://www.youtube.com/watch?v=1C2EFmmbHhg
We here at WatchDog have a lot of respect to what is written in the Bible … as I stated before the Chinese are likely building “ghost cities” in the north of China because they expect a “pole shift” will eventually move those cities into the temperate zone … by following the money (the Chinese spent a lot of money building those “ghost cities”) so it stands to reason that their scientists must be pretty darn certain the crust of the Earth will be moving … and by the looks of the earthquakes happening around the globe … the Earths plates are being displaced … but lets forget science for now … and lets look at what the Bible tells us about a coming “pole shift” … https://www.youtube.com/watch?v=PC6rKJvdD5g
You know … sometimes I get some outlandish ideas pop in my head … don’t get upset … it’s just me … but when I think about it … it seems humanity is being treated like a lab experiment … where the creator of the experiment “God” comes back to destroy most of humanity like a bunch of lab rats … first by flood … then by fire … but he picks and chooses “a few of the better rats” to re-set his experiment going again … all in order to improve the human race!
And of course the bankers “like God” will soon be re-setting their corrupt financial system … hopefully to make it “better”!
Looks like there is a shortage of silver when looking at the high premiums being charged however APMEX looks like it has all the silver you want if you don’t mind paying the higher premiums.
did you check delivery tie? We at Miles Franklin are out of silver and closest delivery is 2 week wait.
Bill my sister found a oz for 21.00 +5.50 shipping. Silver is HOT right now.
LOL this was a goodwill shopping.
http://www.shopgoodwill.com/auctions/1-Troy-Ounce-1985-Liberty-Trade-Silver-Coin-24272943.html
There is no silver shortage or comex default, how many times have we heard this nonsense over the years? http://youtu.be/D1UJhwOEOWM
As Bron Sucheki so presciently points out, if there was a real shortage of silver why hasn’t anybody bought into Sprotts fund and asked for redemption since it’s all backed by physical? It isn’t happening! You will all be back here same time next year talking about the same stuff of immenent apocalypse which they were talking about last year and the year before that .
The dollar is going much higher than any of you realise….
Casey. There is no silver shortage because I own it all. I saw a coin today with a 26 dollar price tag and bids on it. Look around man. Are you sure the comex is sending out real silver. You better check it. Now is not the time to blindly trust anything.
Greg,
This is probably the best interview you’ve done with Bill. Bravo! Both of you fired on all 8 cylinders throughout.
This Hairy Guy’s thinking is that one should immediately start a survival box of non-perishables they (and their family) like, even if they still don’t “get it” by having prepared with any precious metals, as that window is getting precariously close to closing. Simple things as potable (pure) water, toilet paper, even cigarettes will be invaluable. Also, medications one requires should be stockpiled if the shelf life thereof is sufficient.
Life will change for nearly everyone, and the major cities? Rioting and pillaging will again become the rule, rather than the exception. Nine One One won’t be of much help as the cops who are still on-duty will be overwhelmed. It’ll be a Rodney King on steroids as the criminal bank$ters get their laughs in now. They of course will try and flee and shall pay an enormous price for any success in that regard, as the people whom have awakened will want their heads on a large stick. Gated communities won’t be of any help when the SHTF and I suspect they sense it already. World War Three may well have to come to pass as part of this reset, and I pray I’m wrong, but my gut instinct says otherwise.
thanks Harry.
Thanks for having Bill Holter back on, really good info. For all the people out there who have not been keeping up with current events, this will be a difficult thing to digest. Bill says it starts with the derivatives melting down and then moves through the system and 48 hours later it’s all over. But for most people it only starts when the plastic stops working — Credit cards, debit/ATM cards, EBT cards, all those cards suddenly worthless.
It is going to be ugly and you don’t want to be the only guy/gal with cash. But the supply line disruptions will fix that, no supply == nothing to buy even if you have cash.
Then again, the Treasury has seen this coming for months if not years. Where are those gold backed Treasury notes? Anybody? Yeah, no I haven’t seen them either. Maybe they’re waiting for the reset.
the black swan could literally be anything, derivatives will not stand.
Greg…. re the price of gold..please be accurate and include TIMING… Sinclair said after 2020… or after…..
Thanks
Tulip,
Greg isn’t your personal financial advisor. No one here on earth knows the exact timing and so you better just be prepared as you are able.
Greg
I am from Canada and have been accumulating silver for the past 2 years. My dealer is SilverGoldBull at https://silvergoldbull.com
They seem to have adequate supplies, have just restocked my favourite 10 OZ Royal Canadian Mint bullion bars and ship within 5 business days once the order has cleared. They ship both domestically and internationally.
So it seems there is no shortage here in Canada. Premiums for silver range from 12% to 22% depending on product so that curve is really expanded over the last few months but there is no ‘6-8 week delay’ as noted by other dealers.
Just thought I would pass this along.
Gord Higham
Thanks Gord
Contacts in Australia report a similar circumstance-small silver bars rounds and coins are available but they say the larger sizes are in shortage not the smaller ones like in the U.S.
Gord I also buy from Silvergoldbull.
My recent order was delayed as they had no Silver maples in stock. Order was down the street at Brinks. I was told on the phone that they order they were awaiting was already completely sold out. Also they could not fill my small order with used Maples. Only had 73 in stock at the time.
My experience says that there is a shortage especially on popular 1 oz products.
bill’s description of the comex sounds like something i remember from joseph heller’s classic novel, “catch 22.” when the flight crew gets ready to bailout, they grab for their parachutes bags but the bags are empty except for stock certificates and a note explaining that they were given the mm stock certificates in lieu of the parachutes because the mm corporation had to reallocate their parachutes as part of a business deal.
From a newbie’s perspective, what real/actual steps should I take right now. I don’t have a 401k and only a little in savings since I recently sold stock to pay off a lot of our debt. Should I buy silver/gold coins with some (or most) of my savings? Should I raise chickens? Should I stock up on food? On water (even though I’m on a well)? Should I install solar.
There are numerous things I’ve been thinking of doing but not sure what exactly – or who to believe.
Stephen,
Yes, yes and yes. If you have waited this long I hope it is not too late. Think about what all these guests have said on this site. I had to do a lot of homework to find out what really happened in 2008. I watched video after video to learn. The most outstanding comment was, “If you paid a million dollars a day from now back to Adam, you could still not pay off the debt. Do a search for what a Trillion $’s looks like stacked up to something tangible. If you staked a $100. bill on top of another one know telling how many times you could circle the earth.
You must know in your gut that thing are about to implode. Take precautions!!! It is always best to be prepared for any natural disaster. If the New Madrid fault goes off I will be lucky to still have my house. Think about Katrina…the government cannot and will not take care of you…you will be left to fend for yourself. Get on it NOW.
Thanks again Greg for a great interview.
Just to.illustrate again the mass delusion out there. I came across an old Uni mate on Facebook. He now works as an Fx trader in a main bank in Singapore. Knowing he wasnt exactly mainstream at Uni I wondered what his insider views were. Basically he told me I was raving mad for even questioning the Fed.
They are not an evil cabal who work for the banksters. Oh and Gold has no value apparently. I needed to chill out and do an Msc in Macroeconomics and all would become clear
…
Mr. Holter gave a good explanation of why $50K + gold would make sense in the event of a currency crisis. Holders of gold would not sell if they were not assured that the new currency that they were trading into was an equivalent stable value. In absence of such a currency, no one would sell gold, it will have gone “no bid”.
The concept of no bid is essentially the problem that communists have in “setting prices” if there is no market how do you know what the price of anything is?
I have to wonder, given the shadowy origins of bitcoin, whether it is not a trial balloon for digital currency. It could have been launched by the powers that be as a predecessor to a new digital currency (dollar replacement). Naturally, the new digital currency would include extra features that would allow government control.
I highly doubt that they have given no consideration to what happens when the dollar falls by the wayside, and what better time to usher in a currency over which they would have total control….no anonymity, no purchases without government approval? When the chaos starts, most people would be clamoring for something they could use and that would restore order. I don’t think that many people have any silver and gold.
If some things worthless, no one wants to buy it.
If some things priceless, no one wants to sell it.
Oops, previous comment posted to wrong comment.
Bitcoin has no intrinsic value, its an intermediately for exchanging fiat money. If the internet “switches off”, its useless.
The next USD is the bitdollar.
Holter is always great. Pointed, articulate, persuasive.
Always a good git, Greg
Greg,
I have watched this 3X. The part that astounds me is the comment about your pedigree.
Your parents were obviously of the highest caliber. They raised a thoughtful wise man.
Thank them for me.
Joe
Greg,
Bill Holter talked about there being little or no gold in pool accounts. Nothing was said about allocated accounts that are audited yearly, like Gold Money. What does he think about those accounts.
Also, if no one knows what value to assign to the Gold in those accounts what will happen to them? I thought that the gold in an allocated account would be valued according to the reset value. I am confused about whether to leave the gold in an allocated account or change it into physical in hand.
The refugees of Syria are the most well dressed, all young, and angry refugees in the history of mankind. Their $100 backpacks, designer hats, and Nikki shoes don’t even look dirty. Exactly what armies are they running from? Can you say got ISIS?
Down Under/S. Gal/Andrew:
Thank you for your kind words.
My sister was always my “baby sister” — and still is. I looked out for her the best that I could given my own circumstances. She is weak and I do understand that. She also has acquired an autoimmune disease for which she needs a plethora of steroids, one cancer drug, and various other maintenance meds. My personal feeling is that her anger toward my mother ate her alive and helped to bring on this autoimmune breakdown, a disease so rare that no one knows what it springs from and there is no cure.
Her anger was that my mother did not die while she was young enough for my sister to “have a life.” Mom paid all the bills, the utilities, the taxes, insurances, even the food. My sister never even assisted with some rent, so I figure she has amassed a grand sum in her own bank account since she never had any expense to pay her entire life. My sister never left home, never had a date that I am aware of, just sitting there waiting for mom to hatch that golden egg.
My ultimate point in all of this is this: I have had many setbacks in life, as all of us have from time to time. I have been shown time and again that every time a window slams down on my fingers, another window opens. I have never gotten anything I have purposely pursued in life. Instead, God gave me better and has always come through. I have gotten by on a series of God-given flukes. His generosity and mercy has always been at hand for me, and I was always too proud to even ask for same.
I do have my feelings of foreboding about what lies ahead. The money would have been nice but it will not really matter shortly down the road. I have lost everyone dear to me in this life, and I do hope there will be that reunion on the other side.
I do believe God himself threw my husband in my path when he was the last thing I was looking for. He was a Viet vet, brash, opinionated, zany. My Donald could have spun circles around “The Donald” for brashness, bravado, and big ideas. It was a roller coaster ride and a laugh a minute. At the time I met him, I was going through the loss of a long-time boyfriend through death from diabetic complications and it broke me to the quick. Donald came out of nowhere in a grief session and we made some history together.
Riches are not money. If you are lucky, blessed, or just receptive, you get an abundance of treasures through people. All things come to an end. It is that other beginning, that which we came from that has me curious at this point.
Years ago, when my spouse and I sat up all night and listened to Fr. Malachi Martin, I used to tell myself I could put up with circumstances as long as this man walked the earth ( which was Manhattan). When he died abruptly, my first thought was that the afterlife with a Fr. Martin in it could not possibly be something to fear. So, I do keep in mind that I need “fear not.”
Greg,
Thanks for having Bill Holter on again…down to earth and very knowledgeable. I decided a couple of years ago to take possession of my PM’s. I took a hit in my taxes. I did not have to pay the additional fee for withdrawing early as I was medically disabled. I just felt it was so much smarter to be holding than wishing I was.
I totally agree with him about when the system goes down and we have bank holidays and disruptions of deliveries of goods (FOOD). I have enough for maybe a year’s worth of food and about 100 gallons of water stored. Bill (that was my Dad’s nick name…lovely name) I wanted to know what happens to shut the power down, no water, etc???? Does everybody just stop working and figure they cannot buy anything with worthless money??? This is the part I cannot figure out. The other thing is what happens to my automatic deposit from my pension??? ( There probably will be nothing left of my pension when the SHTF or maybe I get it but it doesn’t buy anything.) What happens when the bills are suppose to be drafted from my account?? Will everything just freeze?? I figure I will lose what is in my account so I keep bare minimum. ZERO in savings in the bank. Cash on hand for short period of time.
I think the banks that have bought up everybody’s mortgages will just be more than happy to RENT them back to you. Thanks again guys.
http://beforeitsnews.com/survival/2015/09/how-to-build-a-6-month-food-stockpile-on-a-super-strict-budget-2585868.html
From Steve Quayle’s site, a list of food items to buy for the long haul for those financially squeezed.
There is a way out for the Fed and all the banksters, but they would rather see an economic crash and take their risks that they can manage the aftermath without losing much of their wealth, power and position. That way is to either bring in some sort of debt jubilee or allow the issuance of (government) positive debt free money numbers to start countering the negative debt money numbers of the banksters that have built up in the system. Seeing as no one will champion either escape route it looks like the banksters will further consolidate their hold with some new international currency of their creation along the lines of the SDR apres crash. What will back this new currency might be left unsaid as long as it gets the system up and running again….order out of chaos.
I think the US government can ill afford to take any more debt obligations from the federal reserve about now. Uhh, I think Obama should think long and hard, say tomorrow, about issuing an executive order introducing the sheiss dollar into the economy. The sheiss dollar will be legal tender for all debts, public and private. The sheiss dollar production will be $5-20 Thousand delivered into Accounts to every individual on their 18th birthday who has been a legal US citizen for at least 5 years. I don’t think it should be produced for any other reason, except maybe deficit spending. What say you Bill?
I’m also thinking about a constitutional amendment guaranteeing citizens right to own and hold precious metals
I want 3 currencies Greg, the federal reserve note, the sheisse dollar, and gold/silver. The f.r. note and sheisse dollar will be interchangeable, naturally, and gold/silver will float and will be used primarily as part of a diversified savings portfolio. The sheisse dollar can look just like the f.r. note minus the print spelling “federal reserve note” and minus the fancy signature. 90% of American’s won’t even notice! Am I crazy?
The economic reason why I want to give a lump sum to every American as they enter the system is the magic 3! Balance of Powers. The three Pillars. A chord of three branches cannot easily be broken. So today banks and government can essentially print money and for the average person to get some they have to offer something to the bankers or to the government! This system can work but only if a citizen has a fair fighting chance when they buy into the economic game! Balance of Power!
‘scheisse dollar’ Sie sprechen Deutsch, nicht wahr? Wie sagt man ‘LOLOL’ auf Deutsch?
Hey Bill, this is my version of the Texas two step.
How did you go bankrupt?”
Two ways. Gradually, then suddenly.”
― Ernest Hemingway, The Sun Also Rises
Funny how people cheer for something they know nothing about. You know the ones that say they’re tired of waiting for something to happen? Or say its not going to happen? I may be wrong but I think there were a lot of people who held that point of view in 1929. Chances are pretty good that most of them were part of the 20 Million people who starved to death in the first six months of the depression. My grandmother once told me, that people were so broke during the depression that they would roll up dead bodies of their relatives who had died in blankets and lay them on the street corners for the city to come pickup and bury because they had no money. This generation has no clue of how bad things can be.
Jerry,
But this time there will no to come pick them up…no police, no city services, no FEMA nothing…
We will have to bury them ourselves!
It seems safe to say that a global debt jubilee–or one restricted to US individual, state and corporate entities–is not being offered as a solution during this “reset.”
Fantastic Article on how we got where we are today in Amerika and where we might be headed………..
“What can we expect to happen in our homeland when finally even the generally uninformed population also understands that governments they have elected for decades, and its FED facilitator or controller, jointly have waged a century-long war on its citizens? The people of America cannot make a counter offensive similar to those of sovereign nations; however people are uniting in resistance to robber baron policies, as evidenced by the popularity of nonpoliticians currently in candidacy for the office of president. These troops will mass also, it just remains to be seen what form their eventual counter offensive will be. The established order will be challenged.”
The Established Order Will Be Challenged
http://www.zerohedge.com/news/2015-09-21/established-order-will-be-challenged
Here’s the one thing that neither Holter or any of the other gold gurus talk about:
ask yourself this: if the COMEX has only $150m of gold left to deliver, then why doesn’t some guy like Sprott go in there and stand for delivery? It is the MARGINAL last buyer who would theoretically set the price in a physical market. Now think about if you could be that last man standing “buyer” and go clean out the COMEX @$1,100 an ounce?????, thus causing the market to “fail” ……this would theoretically have the effect of repricing ALL gold at panic prices way way above the $1,100 price to clean out COMEX and that investor ( + everybody else) would make a killing . Think of it this way…… there is only 1 oz. of gold left in the world available for physical delivery, but if nobody demands that last ounce , then the paper price is the “price” . Why is not Bill Holter and the rest of the gold geniuses , discussing this dilemma. All prices are determined at the margin, what is that last ounce of gold worth???? Why wouldn’t a big buyer or a sovereign like Russia or China go in and buy that last ounce ( or $150m or whatever chump change it is) ……..Or even a big player like Kyle Bass, or a hedge fund? they could take that out without a second thought and make a ton of money. Gold is now an issue of national security and I suspect that anyone who tries to take delivery on that last ounce, gets a nail gun to the head, in the interim they will just leverage up to 300:1 or 1000:1 it doesn’t matter. Until somebody can solve this dilemma , I smell a rat .
I’d like somebody on this board to try and explain this. I the interim , COMEX sets the price as long as they have 1 ounce of gold “available ” to deliver, and who has the balls to stand for delivery of that last ounce.
p.s. I presume that supplies are now coming directly from the vaults of Rothschild and the Vatican as they are up to their asses in the fiat game…. hell they invented it.
On Sep 21, 2015, at 7:52 PM, Brandon White wrote:
Be careful what you wish for……..
This will be over soon enough.
Most of the Worlds gold and silver is now in strong hands.
Value is found where others see it.
We already see value in gold and silver OTHERS will soon see it.
When they see it the game will be over.
Yes, China and or Russia and or India could shut this game down anytime.
As Bill has often said. It will be occur one night when we are all sleeping.
That reality is something none of us can get away from….
Anybody: Is junk silver a good thing to have?
My local dealer is down to silver dimes. Every other form of silver is gone. I deal with Patriot Gold. They call their supplier every Monday to inquire what is available. Occasionally, they come up with coins that people turn in.
It sounds like if you even have the money to spend, it will be a very rare find from now on.
Donna,
I would think anything you can barter with or have melted down would work. Buy silver jewelry. I can be traded and melted down.
I could stand to lose 50 or 60 pounds. If anything bad does happen, this would be a guaranteed way to do it. I might be broke, but I’m sure I ll feel better!
Bill, I love hearing from you. You are learned, experienced and, in my opinion, one honest hombre. P.S. thanks Greg for having Bill back so sson.
In regard to your delivery times comment, here’s a boots-on-the–ground report from DownUnder: As far as silver delivery goes, I’ve had a look at some of the precious metals suppliers I use here in Australia. One website – of about 50 plus items listed, only five are now labelled “stock in hand”; the rest would be place an order, and wait. A second PM supplier, much used by myself, has the bulk of its inventory labelled “out of stock”. For the items not marked “out of stock”, if you select them, you get comments such as follows: (here’s some examples, as at 22 September 2015)
RMC 2015 Silver Maple – 1 oz
“On Extensive Backorder – Expected Mid-October”
Extreme demand and lengthy waits.
Perth Mint 2016 Kangaroo Silver Coin – 1 oz
None on hand but “delivery imminent”. New wholesale orders for this product have been temporarily suspended by the Perth Mint.
US Mint 2015 Silver Eagle – 1 oz
Sales suspended. Due to wildly fluctuating wholesale margins and the suspension of wholesale orders by some US distributors, we are suspending sales of 2015 American Silver Eagles indefinitely. Even at these ridiculously high premiums [i.e. in Australia], strong US investor demand for ASEs continues to drive a shortage, coupled with reduced US Mint output.
To be fair, there are items for immediate delivery, but perhaps not what one wants. A lot of these are coins with a supposed added numismatic value, like the 2008 Kookaburra 1 oz coin, with a “specialist” price – like about 3 x the going price for 2015 1 oz coins; and small lots of buy-backs, up for resale; as well as 10 oz and 1 kg bars, and the like.
For new silver coinage, the problem is you don’t know how long you have to wait for delivery until you’ve made the purchase, so it’s hard to gauge the extent of the shortage, if you are buying the more favoured 1 oz coins, such as Eagles, RMC etc.
Friends, I tell you quite sincerely that after the next election, things will be different. The good news is that turtledove Hillary will not be elected. Its going to be Trump or Bush. Once power is restored to real Americans, we will put a stop to the international tyranny that has become all too common lately. Our defense contractors are getting ready for the demands that await us and those dedicated to the battle ahead are training hard. We are going to rain down hell on our adversaries and save the world for democracy to thrive once more. The despots and radical leadership of rogue nations will be destroyed and the ideologies embraced by our enemies will be hemmed in. My friends, a new day is dawning for America. God bless America, my friends.
You’re at the console of a drone, right? In CONUS, right? LOL.
You are drinking some weird stuff…
Occupy Peace is the route to go.
Keep dreaming. America, as it was known, is over and it WILL NOT be revived to its former stature. I don’t say that. History says that and history has a damn good track record as it repeats, or echoes, or rhymes through the centuries.
Wow. Just one more move by the degenerates to finish destroying America.
If pedophiles are normal tighten we can’t day anything about the moslem custom of raping young boys. After all, it is their culture.
http://www.salon.com/2015/09/21/im_a_pedophile_but_not_a_monster/
You can not make a deal with evil. That is where the Repubs are wrong, (one of many) , though can not compromise with evil.
Galaxy, the million dead in the middle east did not ask for war to be brought to them. Assad must go, Gadhafi must go. What kind of BS is that? When did American presidents have a right to destroy countries ruining millions of lives? American’s never voted to go to war, American’s didn’t want war. 9/11 was not a declaration of war but a horrible crime scene. The only way to find justice is to investigate the CRIME. American’s are slowly waking up to the tyrants of today, the Muslims are WIDE AWAKE!
G sad but true.
I would like to have more gold and silver. That said, I am unable to envision a friendly, reliable, exchange for value in the US once a crash or “reset” occurs. It may be like the great depression, or like Nazi Germany, or like Argentina or Zimbabwe. In any of those situations, how could the common person come forth with his precious metals and transact with them for basic needs? Or trust the established government bank or “money changer” to pay him equitably in a reset currency? Someone please help me understand how in a decimated, starving-people, and likely militaristic-ruled economy, a “stacker” could take ten thousand dollars worth of gold or silver and expect to be paid fairly, or exchange those metals for necessities. It seems like the poor would view those people as conspirators, and the militarized government might not take a kindly view on the “newly” rich either. Thanks..
It’s Argentina, Zimbabwe, or ‘Weimar Republic’. Nazi Germany was a REACTION to Weimar Republic.
I saw a few people ask “what will happen to our mortgage pmts when this happens. Will we be forced out?” , but don’t see where anyone has really answered the question. Some advice is “don’t worry about that just stockpile food & water”. I kindly ask that anyone here who has done a lot of research to please take a moment to give us a possible answer or one that may be as close to what could happen. Thank you 🙂
Greg
Its official, I am a registered candidate for the Libertarian Party and before the FEC of the US Government. If I get the LP nomination, the White House is Captured, and with that, restoration of Americana Greatness.
http://2016.libertarian-party.org/
https://www.lp.org/candidates/presidential-candidates-16/
http://www.fec.gov/press/resources/2016presidential_form2nm.shtml
http://www.totalitariandemocracy.com/
I know its all a mess Greg, but I can fix it all and quick.
If you want to interview me, just ask.
Greg, another awesome interview. Your’s and Bill’s heart of truth shines forth. Thank you to both of you.
I want to encourage everyone on USAWD to apply your words to Fear Not. I am. Tonight I will be attending a meeting quietly setup by the “elitists” in my city. The intent, I believe, was to quietly sneak thru plans to put a highway bypass route along my quiet residential street. I learned of the mtg 2 weeks ago from a neighbor, Bob, who happened to be on the city traffic committee. I was the only person he knew in the area. But I know a lot of the folks and to make a long story short, we’ve got the neighborhood out in force for the mtg. The city folks weren’t going to allow discussion at this mtg up until this afternoon. But once they heard news people might be there (I called a major tv news station.Am waiting to hear back from them…) their tune is changing. Will let you all know what happens tonite. So…fear not…and seek to do what is right…
http://www.thesaurus.com/browse/trepidity
There is going to be NO reset!
https://mobile.twitter.com/mannfrednikolai/status/630473297596170240
Norwegian Ship Siem Pilot alone saved 4300 migrants between June and beginning of August .
Here’s another link, just to give an impression. .
http://www.theguardian.com/world/2015/jun/23/med-migrant-crisis-scandinavian-ships-rescue-almost-1000-in-24-hours
Totally agree with everything Bill says, except for one thing, the fed has not lost control, what we are seeing is a series of controlled crashes, say 10% off due to interest rates not rising. Another 10-15% off in December when interest rates do rise, another 10-15% off
early next year when interest rates rise again, this will keep happening until a huge correction has taken place slowly over the next couple of years. If it crashes too hard, then more QE is the Feds ammunition to contain it back to the controlled levels to stop the ultimate crash from happening.
In the background of all of this the banks are working frantically to get a block chain up and running to create the cashless system, I do not fully understand their thinking behind the block chain other than stopping black market activities and monitoring every transaction for huge revenue gains and of course total control , but there is a lot more too it than just that and I do not know what it is yet.
These are only my opinions and they are more changeable than the weather in these strangest of times. But I do think cash will be king, especially in 2017.
I also tend to agree more with Charles Nenner than most of the other guests, the white noise can make us do foolish things, I have probably stacked a bit hard, but that stays out of sight and out of mind, time to try and stack some cash.
Totally agree with you Greg on above all stashing water and food and trying to keep a clear mind throughout the madness of computer capitalism.
Greg- went to buy silver coins from Perth mint everything is sold out until October 5th. But prices are falling. Makes you wonder whats going on??
Thank you for the reporting Billy!!
Greg
This Hairy Guy lived in Arkansas once upon a time when the Clintons were in the Mansion. She was a simpleton then and hasn’t transformed one particle! Note I didn’t call her a brainstem.
She’s excessively savvy and sly, and convey the rubbish of communism to its difficult peak, regardless of the possibility that she doesn’t see within a jail cell as she merits. Additionally, if Obama has made such a decent showing with regards to with his (supplement mockery) unbelievably straightforward organization, effective usage of the “Moderate Health Care Act”, and having reintroduced Unicorns and Rainbows for everybody, (mockery finished) why crush the entryways in further with somebody significantly more maladroit? Got news for ya, sweetz. Humpty Dumpty has fallen and he ain’t comin’ back together, Hill or no Hill. She can’t in any way, shape or form do it as she will be a uber-Janet Yellin