Financial Fantasy Land Continues to Prevent Collapse-Bill Holter

4.jpgBy Greg Hunter’s USAWatchdog.com

Financial writer Bill Holter says the record stock market does not reflect reality.  Holter explains, “This will go on until it doesn’t.  Very quietly, this past week, they postponed the “Volcker Rules” for the banking system.  The reason they did that is they can’t allow the Volcker Rule to come into place.  That would require increased capital ratios.  It would bring mark to market back.  We live in a financial fantasy land, and they need to continue the fantasy to prevent collapse.” 

The recent spending bill passed by Congress, which puts taxpayers on the hook for more than $300 trillion in future derivative losses, is another ominous sign financial trouble is coming.  Holter contends, “It tells me that they know something.  They know something we suspect, and they know something they don’t want to tell us.  They know a crash is coming and they are preparing.  For the Republicans to vote “yes” on this after they won a landslide election is throwing the voters under the bus.  People voted for change and we got change, but it was change into a greater direction of taxpayers being screwed.”

So, how long can this “financial fantasy” last?  Holter, who has more than 30 years experience on Wall Street and finance, says, “I have no idea.  I say I have no idea because I would have thought a complete credit contraction and collapse would have and should have already occurred.  The Federal Reserve with QE (money printing) and the Plunge Protection Team manipulating basically all markets have held it together.  It is being held together with confidence and confidence alone.  So, when will the wheels fall off of this thing?  It could be tomorrow morning; it could be January 5th, the first trading day of 2015.  It could be anytime, but it’s going to happen.”

On the new so-called trading “collars” on gold and silver prices, Holter says it is another tipoff on where the precious metals prices are going.  Holter thinks, “It’s to prevent a disorderly rise and not a disorderly collapse in prices.  How far can it go from here?  It is $6 to $8 below the cost of production.”

On Holter’s outlook for 2015, Holter says, “I think there is going to be a reset of asset prices, a reset of currencies and a reset on the values of everything.  I also think credit will actually seize up in and around this reset.  What I really think you are going to see with a credit seizure is a problem with distribution.  When I say distribution, look what happened this past week in Belarus.  Because the Russian ruble collapsed, the Belarusians, because their currency is tied to the ruble, they went out and made a run on their banks and went into stores and took everything off the shelves.  How are those shelves going to get restocked?  They get restocked via use of credit.  The entire distribution chain runs on credit, and if credit seizes or even hiccups, you could very well see a panic and shelves clean up lock, stock and barrel.”  This same thing could happen in America, as Holter goes on to explain, “This is human nature.  If you see a run on a bank or your ATM’s don’t work or your credit cards don’t work, people are going to take whatever cash they have and buy whatever they can.”

Holter closes by warning, “I suspect what is going to break are the derivatives, the $303 trillion in derivatives that the big banks have, and it will crash the world.  This is not just a U.S. problem–this is an international problem.  When this thing blows up, it will be unlike anything that has happened since the Great Depression and before.  This will be the big one.”

Join Greg Hunter as he goes One-on-One with Bill Holter of Miles Franklin, who specializes in precious metals and global investment strategies.

(There is much more in the video interview.)

After the Interview:

There is lots of free information and articles on the MilesFranklin.com website.  If you would like to follow Bill Holter’s weekly articles, click here.

Comments
  1. allen ols

    greg;
    I read your analysis, video not up yet, the read is great.
    tis tru, they know something is up by tying 303 trillion deriv. to us tax payers, is a sign, also, the escape bags bought by the ustd. ie 200,000 bucks worth.
    As I have been talking to a girl at work, about the coming collapse, she and others joked about the bugout bags, calling them escape bags. But yestarday I asked her if she would be vacationing in the bulkins, this march she said no. I went on to esplain, the collapse of the ruble in belaruse, the shelves clearing, etc. After break, she came back, with honest question, “So what do they do to get their money back up to speed”, I said, wow, for once and honest inquiry, then proceeded to esplain how they have other currencies to fall back on. BUT, when the dollar collapses, nothing!!! I said, do u see how the bellarussians are getting out their money and buying stuff of value. I said, guess what, I am not waiting for the last minute to get out of the dollar , I have already bought everything i will need, and more. IT FINALLY SUNK IN HER PEA BRAIN. sometimes we cast our pearls before swine.

    • Greg Hunter

      Allen thank you for your comment and for sharing your plan of action! Merry Christmas.
      Greg

      • allen ols

        …..got back from work, listening to interview now, also merry christmas also. al

      • Michael Gerner

        Greg, at the risk of being redundant, PLEASE BRING Harvey Organ on to Account.

        I would really like to see what he thinks went wrong.

        thanks

        • Charles Savoie

          Several months ago the Shanghai Silver Exchange silver stocks were critically low. Harvey’s prediction seems to have been based on those stocks falling to zero, causing a raid on COMEX and London silver. Sometime after his $200 call for December silver, “someone” came in with 30 million ounces added to SSE. Undoubtedly, this was yet another case of borrowing from the past—some unidentified stockpile somewhere, known only to insiders (commercial shorts). If you are interested in calling people to account, how about someone addressing the matter of another major figure claiming that China bought the Federal Reserve—yet he offered no documentation to go with that statement. We should all be cautious about elevating any commentator to hero worship status because—truth and facts above personality ratings.

          • Silence is Golden

            JW ??

    • Orion

      You got it my friend; there is a financial storm coming that will shake the world to its foundation. I hope more people wake up from the lullabies of the MSM. Merry Christmas.

      • Michael Gerner

        You guys may want to read something from someone who been right for a few years now….a slightly different perspective for the open minded.

        http://armstrongeconomics.com/2014/12/24/gold-for-closing-2014/

        Merry Christmas to all, and too all a good night!
        Thank you Greg.

        • OzFan

          Martin Armstrong is a stooge for the system, plain and simple. Anyone advocating USD as a place to run and hide is delusional and or disingenuous and dodgy…..and given Arstrongs sordid history, I’d wager the latter.

          Gold money for 6000 years while all fiat currencies have always failed. FACT!

          Btw, good interview Greg. I like Bill Holter – talks like a wise man.

          • Greg Hunter

            Thank you Oz! Merry Christmas.
            Greg

            • MAN

              I always watch Fox News in the morning. Most of it’s trivia but maybe some info. They always have this gal named Maria give the weather report. It would be so funny to have her say that the Stink emanating from Washington D.C. and New York is threatening breathing conditions in the Northeast and the Stink rising out of California may gag people in the western U.S.
              HA! Happy New Year.

          • Michael Gerner

            Putting the name calling aside, the dollar has been been the place to park cash this last year. How have the metals done? I will gladly take the other side of that wager through 2015.

            Regarding the failure of FIAT currency agreed, however, we have a new digital game that will allow this to run longer than you think possible, just my opinion, and I could be wrong? Please take a close look at FINANCIAL REPRESSION.

            BTW, I listen to all and follow none and have done very well since 2006, how about you?

            • Jeff L

              Michael says….” the dollar has been been the place to park cash this last year. How have the metals done? ” …… I will assume you understand past performance is not indicative of future rewards. I also assume you’ve heard buy the most hated sector (miners), sell the most loved (23 X PE- twice historical average)………………. btw, your “loser” insinuations are getting old.

            • Galaxy 500

              Yes and the dollar.is a sheet of paper backed by the full.faith.and credit…not to mention the debt enslavement of the U.S. taxpayers. If you havent noticed, we owe nearly 200 trillion (includes unfunded liabilities). America.is bankrupt. Please keep those USDs in your wallet while the rest.of us by some insurance.

        • Gary

          “I would not bet against Martin Armstrong” His track record speaks for itself, plus his calls are 5-10 years in advance. 2015.75 is when the SHTF.

          Greg Hunter does a fantastic job of getting diverse individuals on his site, however over the last ten years
          Martins forecast top EVERYONE, his Cycles Of War
          theory was brilliant.
          When the Wall Street Banks rig the system, and put this guy in jail for 10 years, because he would not give up his source code, and he tells them to SCREW OFF you know he is the real deal.

          • Greg Hunter

            Gary,
            I too like Armstrong for his take on what is going on and what is likely to happen. Who knows what is going to happen, but the variety of views helps us to piece the puzzle together. There is no doubt the powers that be have put off a collapse with nothing but enormous global fraud. Thank you for your comments.
            Greg

            • allen ols

              greg agreed!!!

    • Jennifer

      I would like to see Harry Dent respond to the comments made by Bill Holter. I would also like for USA Watchdog to do a debate, perhaps between Harry Dent and Bill Holter or Harry Dent and Peter Schiff. The reason I say this is that most people such as Bill Holter and Peter Schiff, who make money on gold purchases, advocate gold as a solution against the coming economic crisis. Harry Dent doesn’t say this is a solution. What do people think of this?

  2. Emeth

    To the point made by Bill Holter that gold does well during periods of deflation, the example he gives of the confiscation of gold in the 1930s does not support his point.
    Gold’s price then was not determined by market forces but by government degree. Then, it was an increase in the value of gold fixed by the government, not a decrease in the value of the dollar. The dollar still brought the same amount of goods, just not the same amount of gold.
    Why did gold increase in value then … simply because those in power made a policy decision to increase the money supply, which meant that they had to revalue gold because the currency/money was backed by gold. Pretty simple to understand, even if we do not agree with the policy.
    Bill’s thesis assumes that gold is money … this is the weakness of this position. Yes, it is valuable, compact and useful asset … but it is not money. If significant deflation sets in, which will be accompanied by shrinking credit creation and demand destruction, then what we are seeing in the oil market will be seen in many asset prices, including gold. But this is only a contrary thesis. Who really knows with certainty how it will work out in all the details.

    • OzFan

      Lol…….I think you need an education dude.

      “Gold is money and nothing else”, JP Morgan

      https://www.google.com.au/search?q=gold+is+money+and+nothing+else&ie=UTF-8&oe=UTF-8&hl=en-gb&client=safari

      • paul

        J.P. Morgan was only partly right … the ninety-two and more elements created by God are “all” money … money is “any real element” created by God not a paper promise created by man. Man has created a false idol with his paper promises for us to worship … but only the real elements created by God is real money.

        Only because it is impractical to carry around tons of God’s real money around with us (like copper, nickel, iron, sand, etc.) we choose a few of the rarer elements created by God (like gold and silver) to carry around!

      • JMiller

        OzFan,

        It appears that you also need an education. JP Morgan never said “Gold is money and nothing else”. What he said was”Money is gold, and nothing else.”

        • Greg Hunter

          JMiller,
          What’s the difference?
          Greg

          • JMiller

            Just correcting a common misquote. Also another common quote that JP Morgan is claimed to have said during his testimony before Congress (actually it was the Bank and Currency Committee) is “Gold is money—everything else is credit”. Well guess what, he never said that. Here is the transcript.

            http://memory.loc.gov/service/gdc/scd0001/2006/20060517001te/20060517001te.pdf

          • JMiller

            Greg,

            You asked is there a difference between the quote and misquote and the answer I believe is yes. It has to do with JP Morgan adding “and nothing else”. For example let’s look at the misquote,”Gold is money and nothing else”. All this is saying is that gold is only money and that is all gold is, money. This misquote does not exclude other things being money. He did not say “Gold is money, and nothing else is”. But JP Morgan did not say that. He said “Money is gold, and nothing else”. Here he seems to be saying specifically that the only money is gold.

            Does my interpretation seem to be correct to you?

          • Scott Wolf

            The difference is:

            Greg,

            “Gold is money and nothing else.”-This asserts that GOLD is money and not just some speculative asset class.

            “Money is gold and nothing else.”- Asserts that ONLY gold IS money, while everything else(paper money) is credit.

            Basically, gold aside, nothing else is money.The first quote is commenting on gold. The correct second one is commenting on actual money-a big difference.

            JPM was right that the only real form of money is gold. That’s what he meant.

            • JMiller

              Thanks for also explaining the difference Scott.

        • OzFan

          *rolls eyes*

          • JMiller

            It does make a difference OzFan.

    • Charles H.

      Emeth,

      You sure do make people think – I give that to you. Economic relationships are more difficult than marriage, at times; and perspective is key to rendering a proper description.

      Inflation is needing more Dollars to chase a stable commodity. Deflation is a stable currency chasing a devaluing commodity. And while in Deflation, ordinary commodities may be had at a cheaper price: the perception of Precious Metals – by comparison – may be esteemed less volatile and less risky; so they could, could, mind you, become more sought-after and gain in value.

      Also, in 1933 it was government that changed gold’s price; but will it ultimately be the same this time? Shanghai and India, Russia and Malaysia are forming economic blocks which may not agree with US policy and it’s games. Back then, after WWI – the US was the ONLY superpower and economic hub to a destroyed Europe: but these circumferential conditions don’t exist now. This time the East may take government’s position; and the West will be like the common man who gets scalped.
      Also, I try to put the cart behind the horse. The government revalued the confiscated gold upward for what? – increase in fiat currency supplies. The Dollars didn’t make the gold more valuable: it was the gold value (albeit jacked-up) which supported more Dollars. So the Dollar’s value was tied to something other than itself. This, to me, is the right perspective. So what IS MONEY? – the currency supply; or the basis for the currency supply?? The Kennedy’s, who didn’t turn their gold in during the Confiscation, and played on the side of government – got a whopping 64% increase of their wealth through gold.
      And I suggest that later. down the road – when the more fiat currency hit the economy, you had more currency chasing the commodities (governmental inflation for it’s benefit; and deflation to the economy) so that the economy went down as the relative price of commodities adjusted to the new currency supply. Main Street and most people lost all their accounts and savings; and like back then – mostly only the rich and Bankers (who now own government) are benefitting from the QE ‘money’-printing. There is more currency; but in fewer hands – same as in the Great Depression.

      Gold IS money. What we are seeing with the Dollar is a fool’s game: because people, in general, think fiat currency is ‘money’ – when it is not. Time will tell; and everyone’s posture and opinion is valid.

      • Emeth

        Charles, I’m sure that this matter is much more complex than any of us can fully grasp. Given that those in power are well experienced at manipulating the system to get the outcome they want, we may all end up surprised by what happens.
        I have never suggested that gold has not been money or that it cannot be money, it just isn’t money now. Money is whatever we determine it to be, whether salt, sea shells, tally sticks or gold. What I am constantly arguing against is the assumption that gold is always money. It is not, and I fear that many who primarily invest only in this asset may find themselves in trouble in the future. Yes, there is great private demand for gold, but the real determinate will be the central banks, and I am far from convinced that any of them want a gold back currency.

        One last thing, all this government printing is not creating more money. Yes, it has created more speculation and asset price inflation as designed. However, so far only more government borrowing is being created in some countries as the general population are not likely to take on more credit, but rather deleverage. This is where the power of demographics kicks in. The crisis will come when deleveraging exceeds credit creation, when government spending is constrained, which may be sooner than we think. That is when the horror of deflation bites, and all assets (including gold) are sold for cash. Then cash will be king … by cash, we mean folding stuff, not the stuff locked up in your bank account that you cannot access because of withdrawal limitations. This is what Harry Dent was suggesting, although most missed his point.

        • JMiller

          Emeth,

          You are correct, fiat currency is money. Gold is not used as money today. Gold is not widely accepted as a medium of exchange or a means of final payment. I can not go into any business and use it to purchase anything with it. Probably not even coin stores and pawn shops. I need to first convert it to fiat currency, namely dollars. Dollars today are widely accepted as a medium of exchange by everyone. The dollar today is used as a form of money. And 99.99% of people agree that paper currency is money and that is what counts.

          • Charles H.

            Emeth & JMiller,

            I tend to interpret everything in Black & White; then juggle the middle – this way I have absolute references (or as wide as practical) to set context, and evaluate the in-between.
            To say that gold is not money NOW, is correct in the present; and only for most Western-oriented thinkers. Much of the world DOES think gold is money as we write. Also assigning the perspective as gold not money now makes it transitory and conditional. Such posturing can never be pinned down. If a majority of the world’s population agree that gold is money: will that then make gold money? And if it turns again to currency: will cash be money once again? You make a valid point: but one that can be changed by a whim, or over time. We have standards for weight; Chemistry; measure, etc., which serve their purpose. I propose that gold and precious metals should also serve a fixed and non-redefinable similar purpose; or perhaps return to it’s international standard it had before.
            Who knows? Governments may decide to recognize gold as currency; making redemption and usage on-par with issued notes. And I somehow DOUBT that 99.99% of people agree that paper currency is money. To me. ‘money’ is a term that needs to be settled and stationary – not shifted to anything that represents value and can be agreed upon. Physical, verifiable, and non-duplicatable – that’s the ticket. Paper is a game.

          • Emeth

            That about sums it up. Thanks.
            Right now, I cannot envision any governmental elite, including Russia and China, wanting a gold standard. It would be too restrictive on their economies, and would inhibit their control. No one in power would willingly ever want the full range of flexible options that fiat offers limited.
            IMO, the only time gold would really come into its own would be after a total financial catastrophe & meltdown, following some form of disaster. This is the unspoken premise of many on this site. The trouble with real disasters is that they almost always happen unexpectedly, in ways that are difficult to plan for.

            • Charles H.

              Emeth,

              It’s hard to tell what the future holds; and in what form commerce will take. The almost inconceivable debt the US and Japan now hold can never be paid back. Some return, to some anchored value; with a cap on currency tied back to said value – agreed upon by a well represented World-centric council – seems to be a reasonable approach. Only the world seems to be running short on reason lately. One thing for sure – ‘creating’ wealth out of thin air is a catastrophe waiting to happen.
              Good comments on your part!

          • OzFan

            Wow…..you guys are arguing semantics, while the whole system crumbles around you.

          • Brad

            Just to set the rules here guys – money is not real. It is simply an idea. You can use anything for money. Greenbacks, gold/silver, debt based FRN’s, sea shells, feathers, tally sticks. Money is just an idea for having an intermediate easier to carry and transact medium of exchange. Because it is subject to manipulation, who/how’s its created is the true power behind politics and how the world works.

            The more I learn the more I realize the Rolling Stones pegged it – “Pleased to meet you. Hope you guess my name. But what’s puzzling you is the nature of my game. Ah yeah.”

        • Jeff L

          All your arguments are cute ( I understand, you sound like all my economics professors) but none are based on history…………Please show me an instance where a country’s debt ended in a deflationary collapse………. I have a 100 inflationary examples……… I know ” this time is different”.

          • lastmanstanding

            Spot on Jeff…just like a damn holding back water high above at town in the valley below…

            “it will be different his time!”

        • Spanky

          “What I am constantly arguing against is the assumption that gold is always money. It is not, and I fear that many who primarily invest only in this asset may find themselves in trouble in the future.”……. I’ll buy gold and you can buy shiessdollars and let’s see who is left standing when TSHTF!!

        • paul

          Emeth … Gold “is” money right now along with all the other elements God created … mans false idol (paper dollars) “is not” money right now … mans paper dollars can only be considered money if they are fully convertible into God’s money.

      • Bill Holter

        actually Charles, inflation is defined as an increasing money supply and deflation a declining money supply. The “prices” of goods and services going up or down are merely the result. We have been brainwashed over the years to believe “inflation” is the CPI or rising prices, it is not. Please go to a dictionary for the real definition, our current definition has been badly bastardized.

        • OzFan

          True. The Gov’t / MSM love a good hoodwink….”CPI’, ‘Inflation’, ‘CPI’, ‘Inflation’, etc. Meanwhile they keep mum about the root-cause which is incredible printing of fiat currency….debasing the dollar, debasing real wages, strangling the life out of people and corrupting and manipulating every market there is.

    • Bill Holter

      there is a BIG difference between “currency” and “money”. Gold is money and can be a currency, dollars on the other hand are currency and not money. The history of the dollar shows it to be a horrible store of “value”. Dollars are “credit”, credit is the problem in today’s world as there is too much of it. Dollars are the “IOU” or liability if you will …of a bankrupt entity. Gold cannot “go broke” where in reality dollars are already “broke”, it’s only a matter of time until the markets reflect this fact.

      • Silence is Golden

        Are you “blue” in the face yet Bill.
        I try to tell people that fiat is just DEBT. They don’t get it. 🙁

      • JMiller

        Mr. Holter,

        I find it strange that people who say that the dollar is not money will still call the dollar money. For example they will say that the government is printing money. Are they printing gold? Of course not. I am sure most of them would say something like this “how much money did you spend? Are they talking about gold? No they are talking about dollars. I understand that gold is not the same as dollars but the dollar today is viewed and used as money even to gold bugs.

      • JC Davis

        Bill Holter I have often said we are seeing inflation and deflation at the same time. Oil, Gold, silver, copper, things on a physical value are deflating yet taxes, stocks, insurance , and such is inflating. Thank you for responding these postings.

      • dc.sunsets

        I concur with Prechter; since 1965/71 the dollar has simply been a unit of account, not money.
        That said, however, in a world drowning in IOU’s, not all IOU’s are created equal. Dollar-based IOU’s (treasuries, corporates, etc.) are all “IOU-dollars.” A bank account is an “IOU so many dollars.” A $100 dollar bill is just that. It’s NOT an IOU, it is what is owed, and it is also what EVERY OTHER THING is priced in.
        In a world drowning in IOU’s that can’t possibly be made “money good,” much or most of those IOU’s will be rejected (in default) or repriced far lower (rising interest rates) when confidence evaporates.
        What this means is that the total pool of dollars and IOU-dollars will shrink, making each surviving dollar and IOU-dollar more valuable vis-a-vis goods, i.e., prices will fall, reflecting a deflationary reduction in the total quantity of cash and dollar-based credit (debt.)
        This means that, for the period that dollar-based IOU’s drop in value (and interest rates rise), holding dollars (or the most secure form of IOU-dollars) is apt to be the best strategy—awaiting the best time to roll out of dollars and into gold, land, etc.
        We’re nowhere near the point that debts will be openly dishonored. Junk bonds look vulnerable, and may be among the first casualties in a post-peak environment. We may presume that governments will attempt to preserve their access to borrowing as long as possible, so their short-term debts may be the last IOU-dollars to topple.
        Only once a deflationary collapse in the total dollar value of outstanding IOU’s has passed does it seem likely that politicians will attempt to “cure the shortage of dollars” by literally printing banknotes. I maintain that the first clear signal that this is underway is that the maximum denomination, now $100, will be overturned and banknotes of increasing denomination will rapidly appear. Then will the hyperinflationists get their wish….er….sort of.

    • Silence is Golden

      Emeth,
      You said “Yes, it is valuable, compact and useful asset … but it is not money”.
      Here you are demonstrating your closed/introverted view.
      Gold is Money….just ask China, Russia, Iran and even Saudi Arabia and Turkey. I stand to be corrected but they are/have traded goods for GOLD. Gold in these cases served as MONEY.
      Also please consider that any PM coins minted by a country’s official Mint and has official “currency” coinage designation…can be used as Money in settlement just like normal fiat. (not that you would chose to do that…but that option is readily available).

    • Galaxy 500

      When the US had severe deflation caused by the irresponsible creation of credit (money), the US $20 dollar gold piece declined in value to…$20
      Enjoy your thought provoking post

    • Scott Wolf

      First, gold was confiscated from private citizens and then revalued by President Roosevelt to recapitalize the banks, period. It was the greatest theft of American wealth (prior to 2008), a theft that altered our consciousness about having insurance in the form of gold to protect you from the evils of paper money. And revaluing it to $35 from $20.67 is known as inflation.Yes the ounce of gold is constant, but the debasement itself is inflationary, which is what the CBs wanted at the time. The fact that in 1933 the U.S. Govt went after gold tells you all you need to know about its importance in any epoch. Nixon only temporarily removed it from the monetary system, he did not kill it. Eschew gold’s importance at your own peril. Enjoy those digital zeroes, for one day they will be stolen from you.

      Second, the last thing you want in a currency war like today is a strong currency. The Fed will not endure deflation, i.e., strong dollar, for long. 7 yrs of 0% interest rates and still the ACTUAL free market wants its deflation! How can the Fed get its 2% target rate of inflation if prices are falling? This new crisis will be the perfect excuse to not raise the Fed Funds rate in 2015-a boon for the DOW! I guess the world will never know legitimate interest rates again? HOW IS THAT EVEN POSSIBLE? QE TO INFINITY!!!! A NEW DOW HIGH!!! YEAH!!! Open sores oozing financial puss are overwhelming the patient. The Fed’s perpetual transfusions of dollars no longer seem to be working. The patient will soon be dead.

      There are $500 Billion invested in junk bonds in the Bakken bubble and other shale ventures, so how long can the Fed CRUSH America’s only economic driver? What makes the whole SHALE MIRACLE even funnier is the fact that despite trillions of dollars injected into the system, the global economy is getting ready to crash. China has a real estate bubble, ECB is employing NIRP, Japan is destroying the Yen, Venezuela is in a currency crisis, etc…Excess crude production and shrinking demand means oil can go much lower than it is now. The U.S. shale bubble has to keep pumping, so this means even more supply. Saudi Arabia/OPEC can maneuver for its proxy war in Syria and punish Russia at the same time by doing nothing to their production. For 10 yrs, the rest of the world has been seeking alternative energy sources, so the U.S. SHALE BUBBLE-err I mean, MIRACLE, will continue to bring more supply to an already contracting and changing global economy. And don’t underestimate the recent China-Russia oil deal. China has its $1.3T in USTs ready to bail out the ruble if need be. No, the U.S. is the real loser in all economic matters. We’ll just be the last to feel it since the world does have over $6T in UST-to say nothing about the off-balance sheet garbage that passes for money.

      Ah, the consequences of declining marginal utility emerging from the Fed’s fairytale digital screen of hokus pokus fiat. And with the Velocity of Money at an all-time low, where is there legitimate growth that isn’t tied to HFT traders, bond fraud, manipulated interest rates, inflation, Central Bank intervention and the like? LIBOR, FOREX, COMEX, LBMA,and GLD no longer create price discovery-THE BASIS OF OUR CAPITALIST SYSTEM.

      What about exports? What about debt service? A strong currency makes our debts much more onerous. The Fed will have no choice but to do more QE. For now, we exported it to Japan, but the Japanese economy is finished. And the clever currency swap arrangements and mystery Belgian UST buyer show a system on the verge of collapse. The dollar isn’t strong because the U.S. is in recovery. The dollar is strong because in our quest for empire, Western banks are hell bent on destroying all dollar threats by forcing their worthless IR derivatives on every nation in the world. You can’t make this stuff up. The dollar is finished-by 2020 at the latest. Mark my words,there will be hell to pay for those individuals incapable of seeing the need to own gold and silver, especially now as the death of the petrodollar closes in on whats left of our middle class. Remember, a star shines brightest just before it explodes.

      BTW: One last point to all you precious metals bashers: The fact that gold and silver have to be smashed and manipulated every single trading day means we are still on a gold standard!

      Why did the COMEX just implement a $400 trading limit cap on the price of gold if it’s no threat?

      Why doesn’t the NY Fed just give Germany its 300 tonnes of a pretty, yellow metal that has no dividend or yield? Why all the secrecy and 7 yr arrangement? You wanna know why?
      BECAUSE GOLD IS MONEY, THE ULTIMATE ASSET TO OWN, AND THE BIGGEST THREAT TO THE PETRODOLLAR.

  3. Aziz JAAFAR

    Excellent interview (better than with the other clown,Harry Dent I think).
    I would like to wish Merry Christmas to Greg and to the peaceful Americans not the silly warmongers.I repeat that Jesus is a prophet for us Muslims too !(although we don’t celebrate Christmas).Last thing,here in Tunisia,we are happy and proud having thrown away democratically and peacefully the islamists extremists from power after the Parliament and Presidential elections.

    • Greg Hunter

      Aziz,
      Merry Christmas to you too and thank you for your comment and street level reporting!!
      Greg

    • Galaxy 500

      Aziz,
      Jesus is not a prophet, he is the word of God made flesh, the son of the one true God. He sitith on the right hand of God and there is no prophet his equal, let alone one above him.
      I wish you a Merry Christmas and peace.

  4. Jerry

    Merry Christmas Greg.
    Great interview as usual. I always appreciate Bill Holter’s honesty when it comes to economic events. He never lies.
    Mark your calendar for February 19, 2015. That’s the beginning of the Chinese New Year. I’m not saying something is going to take place on that date, but business computers as a rule are geared in quarter increments, and its much easier to make a transition to a new type of system like a ” currency exchange system” without having to work outside those perimeters. At least Forbes thinks so.
    http://www.forbes.com/sites/realspin/2014/12/22/brics-new-development-bank-threatens-hegemony-of-u-s-dollar/

    A really smart economist recently stated that what we have in our current manipulated market system, is likened to” a snake eating its own tail”. I can’t think of a better description of what’s going on. In that vein of thought, I guess on Tuesday it got a real mouth full.
    Merry Christmas Greg. Keep stacking my friend.

    • Jerry

      Greg, Merry Christmas!
      I just had to post some inside information I received yesterday. I ran into a close friend who was home for Christmas. He is private contractor for the military. He told me he was headed to Iraq after the Holidays to do a job. I really didn’t think much about it until I saw this.
      http://www.reuters.com/article/2014/12/24/us-usa-iraq-contractors-idUSKBN0K20AW20141224
      Greg it appears to me, we are building up for something to happen in the middle east. While the MSM is focusing on American troops withdrawing from Afghanistan something is clearly happening. What worries me are rumors of a false flag event taking place in the middle east sometime in January or February. If that’s true it could really put our troops in danger, with ISIS having a foothold there. I would not put it past the boys at Langley to carry out a false flag on our own troops to gin up war with Russia. The cabal has been trying to push that issue for the past year in first in Syria, then Ukraine, and then by collapsing the ruble. So far Putin hasn’t taken the bait, so they may do something desperate.

      Anyway, sorry for posting so much but I thought you might want to know. Have a nice Christmas Greg and thank you for all you do.

      • Jerry

        China purging its economic system, as preparation continues for break-a-way from the dollar. Its coming.
        http://www.reuters.com/subjects/yuan
        This is what should have happened here. The reality is it never will as long as we allow a bunch of bank thugs to run our economic system.

        • Jeff L

          Love you man, so I only use this in jest………….. ” Mark your calendar for February 19, 2015. ” What, another date ? Now I have to cross off all the past ones ?………. Are you related to the Jackass “Voice” ? Heck, I’m still betting on the next week. ( lots can happen before 2015)

          • Greg Hunter

            Jeff L,
            I have been saying there would be a major dislocation before the end of 2014. Looks like the crashing oil price was it and this will be what kicks it all off for 2015. This is going to be one wild year. Merry Christmas and thank you for your participation in this site.
            Greg

          • Jerry

            Jeff do you read much, when you’re not sniping?
            “Mark your calendar for February 19, 2015. That’s the beginning of the Chinese New Year. I’m not saying something is going to take place on that date”

      • Greg Hunter

        Jerry,
        Don’t be sorry for giving personal info that helps warn us all! Merry Christmas.
        Greg

    • Galaxy 500

      Jerry
      Thanks for giving a new date. How is your accuracy rate over the last year?
      I am putting down a 600 ruble bet ($10) that this date will come and go without anything happening beside fireworks.
      Peace out, Merry Christmas and Happy New Year buddy

  5. JMiller

    Greg,

    I want to correct or clarify something that Bill Holter said. He said that the spending bill now places $303 trillion dollars worth of derivatives under the FDIC umbrella. What he said may be a little misleading. He makes it sound like these derivatives are now FDIC insured. They are not. The spending bill allows banks to house their trading of swaps and derivatives alongside customer deposits. Also from what I read it also allows some customer deposits to be used in risky derivatives activities. It is the customer deposits only that are FDIC insured not the derivatives themselves. Because of this change in derivatives, it is feared that should the big banks get into trouble because of them, that they are now more likely to be bailed-out. The tax payer could be on the hook for the derivative losses, but not the FDIC insurance. The FDIC insurance would come into play to cover the insured deposits of these big banks, some of which could have been used in derivatives activities. But most of the deposits at the big banks are not insured. Back in 2008, the FDIC insurance fund was not used in the government bail-outs.

    For more about how the FDIC operates during a bank failure see below:
    https://www.fdic.gov/consumers/banking/facts/index.html

    • Bill Holter

      correct JMiller, the derivatives are not currently “under the FDIC umbrella” but their losses will be when the time comes. The point I was trying to make is that the American taxpayer has been thrown under the bus and these derivatives have now been underwritten by the taxpayer when there are losses big enough to break banks. …The banks keep the winnings and the taxpayer pays for the losses, …sound about right?

  6. Spanky

    For obvious reasons, the subject surrounding the eventual fate of the current Keynesian-induced bubble economy is important, interesting, and hotly debated. On the one hand, many proponents of an inflationary scenario, such as John Williams and Peter Schiff, posit that the price of an ounce of gold will soar to $5,000 or $10,000. Those who believe otherwise, like Dent, assert that the precious metal will ultimately drop to $400 or lower. Since both sides have cogent arguments supporting their point of view, it behooves everyone to carefully ponder the opposing position.

    I believe the eventual outcome is more of a coin toss than most people suspect. I contend it all depends on how world leaders react to future events, and, let’s face it, they’ve been known to do some remarkably dim-witted things. Predicting what they will do is like trying to forecast the timing of the next major earthquake to hit San Francisco, California. We can, however, predict with some degree of accuracy that they will react in their own best interest, financially, which unfortunately may not be in the best interest of their constituents.

    Will it be inflation or deflation? Who knows? We may even have both. Consider Thomas Jefferson’s insightful admonition, “If Americans ever allow banks to control the issue of their currency, first by inflation and then by deflation, the banks will deprive the people of all their property until their children wake up homeless,” Let’s face it, NO ONE knows for sure what’s going to happen within the next five or ten years?
    Like Yogi Berra, I consider forecasting to be an extremely difficult task, especially when it involves the future.

    What I am reasonably certain of, however, is that the relative purchasing price of an ounce of gold will remain fairly constant regardless of the economic milieu. This is because the overall price level of goods and services in the economy will be impacted in a corresponding degree and direction as the dominate trend. Whether we are experiencing inflation or deflation, an ounce of gold will purchase approximately the same number of loaves of bread, gallons of milk, and gallons of gasoline. Moreover, the price of an average house will require the purchasing power of approximately the same number of ounces of gold. This is one of the reasons why gold is perceived to be a store of wealth.

    Merry Christmas everyone.

    • Bill Holter

      Merry Christmas Spanky, when the system comes down, most all assets that are currently valued today will “lose funding” because credit will not be available. This will take “bids” away and the values will drop. Gold is not credit and it’s value is not supported by credit (like houses for example). What is coming is a massive deflation …in terms of gold.

      • Silence is Golden

        So Bill….Harry is correct on “Deflation” but not on “Gold price” based on your “what is coming” comment ? Just for clarification.

    • Spanky

      very good “spanky” . I guess we are using the same handle here on Greg’s site. if you want to keep the “spanky” handle I will change mine? ( not that I disagree with you, you are very wise , but I think we should each have our own handle)…… let me know

      “Spanky”

      • OzFan

        Greg, one this point – may be time to implement a ‘sign up and login’ type system to poster uniqueness…..just a though mate.

        • Greg Hunter

          Qz,
          Thank you for the idea. For now, I want the site to remain as open as possible.
          Greg

    • Jeff L

      Spanky Good commentary……. ” Moreover, the price of an average house will require the purchasing power of approximately the same number of ounces of gold “. ……… Housing (like stocks) vs gold changes radically. Today housing is overpriced, gold undervalued (imho). In the late 70’s a house could be bought for a $1000 face value bag of silver. Today it would take 10 times that. One way or the other the gap between the 2 will be closed.

    • Silence is Golden

      Spanky,
      When you quote something like this “If Americans ever allow banks to control the issue of their currency, first by inflation and then by deflation, the banks will deprive the people of all their property until their children wake up homeless”…..it is worth taking the time to actually analyse it before making a comment like this….”Let’s face it, NO ONE knows for sure what’s going to happen within the next five or ten years”.
      The critical part of the quote is …first there is INflation…then there is DEflation. Don’t try to overcomplicate things. These guys controlling the monetary system understand that they can create booms and busts. Poor/Bad policy decisions affect the magnitude of the swings. You can fill in the Gaps.

  7. mac

    Australia is bought, it is a puppet of Anglo-Yanks. The PM of Aust is a servant of England. So they r not serious IF they are asking for their “money” back.

    QE will collapse the markets? Not likely buddies. The QE goes to Banks who must buy stocks and bonds, that is the plan.
    Sorry, but China and the BRICs are the main hope. Forget the USA, it is an occupied country, too!

    • John Doe

      Mac your right on tack!
      https://www.youtube.com/watch?v=y-nPsrX05Rk
      The Dual Anglo-American World Super Power

      “People voted for change and we got change, but it was change into a greater direction of taxpayers being screwed.”

      In other words were gonna get charged up the kazoo in Kalamazoo!

      • Bill Holter

        yes.

    • Silence is Golden

      Good point. Yes it is owned….by the City of London.
      Bill makes a very valid point here…something smells like a rat.
      Also….Bill…we cannot overlook the fact the US is still under so called “British rule”.
      The City of London has more influence than anyone gives them credit for (FED).

  8. Marianne S.

    Are you saying the powers that be are keeping the precious metals market low to bankrupt the mining companies so they can purchase the mines?

    • Silence is Golden

      Rhetorical question.

  9. CrazyCanuck

    Hi Greg,
    Great work as usual, thanks a truckload.

    Greg, being one of I suspect a great number of non-American followers of Watchdog, I am quite interested in learning just how close my country’s politicians and CBers are with the Fed / cabal(s). Case in point is the very nasty betrayal of citizen/business savers and investors implicit in the CYA derivatives bail in.

    Do you, your guests or many contributing commenters know of anyone in the blogosphere who can speak to this question? Are the Canadian, English, Australian etc. savings accounts just as vulnerable to being sucked dry as the American accounts? Or are we just to assume our American neighbours are just the first to be hit with the tsunami and our time to act defensively is but a short time window ?

    • Greg Hunter

      CrazyCanuck,
      I think everybody is in deep trouble because everybody has derivatives. When it breaks you will be frozen in whatever state of preparedness you have done. My humble opinion.
      Greg

    • Bill Holter

      we will all be hit at the same time from the very same tsunami.

  10. Mike Soon Over

    Wow, Greg the interview with Chris Powell was informing but today’s with Bill Holter had me on the edge of my seat. Your questions and his answers left no grey areas for the near future. Sir, you are excellent at what you do and your guests I could listen to for hours. The items in the spending bill are scary with reason and direct purpose as its likely to blow up. Like many things in life we wish we could have more time, time for lost loved ones and more time for preparation but that prep time is running out. I like many others have tried to warn those who are asleep with some or very little luck. I have a 35 year old son that has a couple of degrees and does very very well. He I can’t reach, I called him one day last week and said son I understand why we don’t see eye to eye, in fact its simple. I read Misses, Rothbard, Ron Paul, Thornton, etc. and look at Austrian economics, you kid have been under the professors who see only Keynesian views. Iv’e presented him many facts and ideas but hes totally blind to any thoughts of mine including silver at such a low price point. In fact he told me gold will be of no use if a crash or a great depression would happen, which as he said, IT WILL NEVER HAPPEN ! It’s truly a sin the mind set of most collage educated young men and women that are so set in normalcy bias with no critical thinking skills. After the phone call I stopped to think to myself, and the thought was gee, and I’m the one with no or very little education? For what its worth, I do fairly well for myself as a business or service trade person, I’m in refinishing and installations in the Hardwood Flooring business, something I very much enjoy doing. There’s still a chance for a blue collar middle class life for many whom try and work hard at it. Mike soon over. May God bless and Merry Christmas to you and yours Greg and also to the WATCHDOG CREW. Thank you

    • Greg Hunter

      Mike,
      Thank you for your comments and participation in this site. Merry Christmas!
      Greg

    • Richard Mchenry

      My friend, you’re right on about what is going on in the higher education of America.I too have adult children, some collage ,military,trade school,and degree dedicated,.The critical thinking skills tought back in the 60-70s have long left the building and replaced with teaching to the test.Critical thing is too unpredictable for government to control,remember back when your parents told you or asked you ,,,if all friends were going to jump off the bridge would you do it just because they had jumped? If your children have grown up to be contributors to the over all wellbeing of humanity then you have fulfilled your God given responsibility.I often attribute this saying to my father who is now an 87 year old Marine,,,,Don’t expect other people to do for you what your not willing to do for youself,,Thankyou for allowing me to post and vent !

    • Bill Holter

      thanks for the kind words Mike! You can only do what you can do for friends and family …I can guarantee you will hear after the fact “who could have seen it coming?”.

  11. Smaulgld

    Everyone forgets that the way GDP has been calculated has been changed recently
    they now include as Holter points out spending on insurance!

    That is a cost not a production data point!

    They include spending on utilities to heat or cool your home. So bad weather an HELP GDP.

    They also now include non productive expenses like R&D (including things like screenplays that may never turn into movies )

    But even if they didn’t include these non productive items in GDP they include retail sales which themselves are not productive either! Buying stuff produced in China on credit from Target and Walmart is not productive yet it is 70% of the US GDP!

    • Bill Holter

      the way they calculate economic reports today versus 40 years ago is criminal.

    • Jeff L

      One of you best posts……. Few understand the truth. They just read the headline lies.

  12. JC Davis

    Greg. Bill Holter had a really good point on the mandatory insurance known as Obamacare. It is a tax yet counted as a part of the economy. My prediction is when the fed can not rip folk off anymore there will be a false flag the shuts down the power grid, and creates a war with eastern countries. Likely to happen in 2015. No later then 2017. Thanks for all your work.

  13. Aurele

    Another great interview Greg. You might consider also having “Karen Hudes” on your show in the new. Her views are very controversial and off main stream. Here are a few links to Kareb’s links:

    An Interview: https://www.youtube.com/watch?v=eMSF8mCR6M0
    Her Twitter: https://twitter.com/karenhudes

    Cheers Greg and Merry Christmas !

    • Emeth

      I’ve listened to her quite a few times and get the impression she is very smart, had an influential job, is not unemployed and hasn’t reconciled this fact, is quite wacky and perhaps even a nutter. The whole range. However, I can’t help feeling she is also making a lot of it up. All that Yamashita gold that has been accruing interest that will soon bail out the world. Hmmm… I would not hold my breath.

      • JMiller

        What Karen Hudes says needs to be taken with a grain of salt.

        • Galaxy 500

          Grain of salt my arse…more.like a train car load of salt

        • John Doe

          And if your a prepper, pepper!

      • Galaxy 500

        Right.well.said

      • armando

        Please Greg, not Karen Hudes! While I whole-heartedly disaagree with the likes of people like Harry Dent and several others, at least those individuals argue their points from a personal financial perspective presenting their perceived facts to support their conclusions. In the case of K. Hudes and her fairy tale stories of 186,000 tons of gold hidden away to save us all – I´m thoroughly convinced this lady is either a NWO disinformation agent or at the very least certifiably delusional. Her message is in fact dangerous, because those that believe it could be led to ¨do nothing¨ since the powers that custody this gold will take care of us when their help is needed. Again Greg, anyone but Karen Hudes!

    • Galaxy 500

      Dude,
      We are still looking for kooky Karen’s magic pile of gold that.she.says.was in a Hawaiian Bank, but then in the.same.interview.with Greg said.it.was in a.super dooper.secert.location in the.Philippines. Karen isnt.someone.to look.to.for.accurate.information.or planning. Comic.relief maybe but nothing more

  14. diane

    http://armstrongeconomics.com/2014/12/24/gold-for-closing-2014/

    Don’t know who is right or wrong with predictions….SIGH
    Al makes valid points…I am invested in everything but a doomsday escape plan…..
    What is the New Year to bring……scary.
    I’ll try to do as Mr Greg Hunter tells us…fear not. ..but it’s not easy.

  15. Kenneth Schortgen Jr

    Good morning Greg, and Merry Christmas!

    Bill Holter makes a key point that could be expanded to nearly every future analyst that you might interview Greg… the Fed can prop up the markets for (virtually) eternity but he real catalyst for when things will hit the fan will be from external rejection, not internal. America today is a different bird when comparing us to all other fiat currency collapses… we own the reserve currency and the world’s trade is tied to the dollar. Until the world rejects this, and willingly chooses a new permanent trade platform (gold backed trade note, Yuan, gold backed currency, etc…) then there is no time frame anyone can estimate for a collapse.

    Geo-political events will dictate when it occurs. Ie… Germany leaving the EU, NATO collapsing, war, the BRICS announcing they no longer accept dollars, etc…. Until then, status quo will continue as it is the economic law of competition. Competition reveals bad capital, markets, and businesses, and as long as the dollar has limited or no competition, then it can sustain for a long time… no matter if an economy is dying, people are unemployed, or price inflation makes everything impossible to get.

    • Bill Holter

      the world is in the process right now of “choosing sides”.

      • Silence is Golden

        The nations of the world are voting with their feet.
        Not so much as choosing sides, more so moving across to the NWO paradigm. Whether that is the BRICS or the IMF forced model….either way ….it will be closer to the One World Government, Religion and Currency.

  16. paul

    Greg …
    Bill Holter is right a New World Order currency re-set is coming … people will see (NWO) everywhere they look … like getting Nothing With Obama … like Never-ending Worthless Obligations … like No Work, Ouch!! … Now What Other things has the cabal planned? … a Nuclear War Oh my lord! … a Nuclear Winter Over earth … this is Not What Our almighty God had in mind for humanity! … Never Worship Oligarchy! … we should Never Want Over us a NWO in everything we read and see … it will simply drive us Nuts Wacky Out of our minds!!!

    • paul

      On a more serious note … look at what happened this past week with the depression in Belarus as the Russian ruble collapsed … the Belarusians didn’t hold cash like Harry Dent said they would … they got out of cash … and into physical … they ran to their banks … got the ever worthless cash … went into stores … spent it as fast as possible … and took everything physical off the shelves!!!

      • OzFan

        Nice point Paul……Dent gives dangerous advice and stoopid too.

        • Jeff L

          As do a few here.

      • Bill Holter

        …and restocking the shelves requires credit.

        • Galaxy 500

          Bill
          This is something people fail to understand and I am glad you pointed it out. The modern grocery store is a marvel of capitalism and most items on the shelves are sold and eaten before they are paid for (alcohol is paid for in cash in some states that bar sales on credit).
          The average lemming (sheeple to some, hunanzees to others) does understand that businesses giving terms to one another (credit) is how the system functions. Without credit, things grind to a halt. The average household has about $400 cash on hand (in wallets, outside of banks).
          In Cyprus, the credit cards and debit cards stopped working, checks were barred from deduction from banks, you could only get a small amount of cash out of ATMs. When things.go bad here, its really going to suck…big time.
          Heres my.prediction: we are going to have ever increasing inflation until we get to hyperinflation and then we are going to go to deflation. Just my $37.50 on the collapse of the US hegemony.
          Enjoyed your interview

          • Bill Holter

            Galaxy, please see my writings for next week, either a 2 or 3 part piece on “the day after”… goods do NOT grow on Walmart shelves!

  17. Art Barnes

    Greg, the FED will never raise interest rates again, can’t, won’t, will not, won’t happen, got it folks, any questions out there? I agree with your guest “it will go on until it doesn’t”; simple as that! The land of the dollar bill is not my grandfathers country, its a hybrid socialist semi police state with a puppet type Congressional Republic with no power except within the Executive Branch. Things will not get better, only worst. Greg, Merry Christmas to you and yours. From the Western Front, art b

  18. Timco

    God Bless you and your family Greg. Thanks’ for all the hard work bringing us the TRUTH. Wishing You and Everyone Peace and Happiness.

    • Greg Hunter

      Thank you Timco. Merry Christmas!
      Greg

  19. VShook

    I doubt that derivatives will be the cause of western financial collapse. The ISDA has the power to declare derivatives in default or to ignore the default and classify it as an independent event so that it will not start the collapse of the derivative house of cards. They have done this in the past. This, coupled with other control(s) in/of the western financial system are a benefit to all, including China, Russia, et al. No entity wants to lose their reserves or the purchasing power of their reserves. Thus, they are inclined to not do anything that will start the collapse of our western banking system. It is all about the money — their money. Their fear of losing same is what is keeping them all in line — and the western financial system perpetuated. No individual, no country, no central bank in power anywhere has anything (monetarily) to gain from a US dollar, coupled with a western financial system, collapse. Political ideologies as impetus for change fade to gone in this context (money, greed, fear of loss). This fact alone should continue our current system to infinity = our life times and beyond. God bless everyone this special time of year.

    • Bill Holter

      “This fact alone should continue our current system to infinity = our life times and beyond”. Not a chance! Think about what you are saying here? You are saying everything is false and we will live forever in a “Matrix” world… I suspect the rest of the world will have something to say about this.

      • Silence is Golden

        Bill …it is a Matrix World…UNTIL someone actually does something to change the status quo. Better prepare for Hell… WHEN that happens.

        • Bill Holter

          the Chinese.

  20. Jim H

    Merry Christmas to all and thank you Greg for bringing us so many options on how to maybe out guess the Sociopaths we’ve allowed to take over our world. We speak of a collapse sometimes as if it’s some kind of accidental result of bad actions of those holding the purse strings. To that theory I offer this.https://www.youtube.com/watch?v=9MbRrXkrYNs. He and Elizabeth Warren are maybe our two most educated advocates on what is happening. They go after the orchestrators of the demise of our worlds middle class. Note the look on the faces of the puppet mouth pieces as the truth is demanded of them. Clearly, they don’t feel we have a right to question anything they do that affects the lives of our worlds people. They are above us. In fact Grayson was defeated in his next bid for Congress by a total idiot who had the Mainstream Media and 10 times the financial backing Grayson had. Fortunately he was such an idiot that Grayson won the next time very big. Compartmentalization is the tool used to make many near the top feel they are doing great things like chopping up millions of mortgages and selling them as stock to corrupt governments (as AAA stock) world wide. At some point we need to be smart enough to quit talking about the stupid “Interview” movie and begin discussion in a non partizan way about what is seen in the video. Like a good friend of mine tells me often, “keep doing what you are doing, you keep getting what you are getting. It’s really depressing to see how easy it is for the Media tool to pretend Obama is different than Bush when for years both sides have done nothing but steal our freedom and money. I refuse to walk with my head down fearful of what these evil, greedy, sociopaths can do to me to maintain their plush lifestyles. I will continue to love most people and laugh at myself and with others until we point our fingers (instead of guessing) in the right direction and say “we know what you are doing and you need to stop”.

    • Bill Holter

      Merry Christmas Jim, there is no “choice” when it comes to candidates for office, they all serve the same masters.

  21. Klemens

    Alan Jackson: “Let It Be Christmas Everywhere” http://gloria.tv/media/LpfeYGUyL2j
    happy Christmas to everybody!

  22. Jay

    Interesting times for sure. Martin armstrong who had a mixed reaction when he was on here seems to think that dow and s&p are potentially set up to shoot to 23000 (dow), and the dollar will rocket as people still view it as the safest place in a basket case of currencies, rightly or wrongly so. Catherine Austin fitts I seem to remember was quite bullish on the dollar (don’t you owe her a dollar from that bet Greg lol?) as was jim rogers last year. I can well see the dollar rising dramatically right up till the point it dies, and I think essentially the majority of your guests are right greg, it’s just that I think we are a minority in our awareness and how we think/prepare. Because we think we know how it will end we are ready for it now, it seems crazy that it hasn’t happened yet, but the rest of the sheeple, they believe the numbers, they believe the hype and they will continue or eventually hop onto the moving train wreck that is coming. They will never get off in time. It is so sad really…. I have family members who rode the 08-09 crash with stocks and they no doubt think that they will be able to ride through the next one much like the last. They think I am nuts by putting my eggs in the PM basket and on paper it sure looks it. I must even admit that I have been tempted to play the indices long with tight stops in the new year. My timing is usually very poor so that could be a good contrarian single for you!
    Anyway, thank you for your great work this year bringing on a brilliant variety of guests and opinion that we don’t seem to be able to get from many other places. I really appreciate it. Happy holidays to you and yours greg,
    Regards Jay in the uk

    • Greg Hunter

      Jay,
      Yep I will probably owe Ms. Fitts $1.
      Greg

      • paul

        Hope that was a fiat dollar Greg … not a silver dollar!

    • JC Davis

      Jay welcome to my world. I am always last to learn I lost. This game aint over till the fat lady sings. Then I will give up my one dollar tip. When the S. H. T. F. I will never win either way. What is one dollar in a world of hundreds ? / Hyperinflation Good comment. Merry Christmas.

    • Bill Holter

      you are not “nuts” Jay, follow your logic.

  23. Andrew de Berry

    Greg – posted on the wrong thread a moment ago. Just to repeat thank you for all you’ve given us over this past year. We had our differences (over Gaza), but that’s minor in my view compared to your obvious Christian integrity and generosity of spirit. Thank you and stay safe, Rev.

    • Greg Hunter

      Rev,
      Thank you for your comment. I always try to be fair and accurate.
      Greg

  24. allen ols

    greg;

    OK WOW, last few minutes, spellbinding, ” THIS WILL BE THE BIG ONE!!!”, WORLD COLLAPSE.
    I got started yrs ago, under BOB CHAPMAN, AND melody cederstrom, and gerald celente, my great grasp of everything, at eht school of economics, via, USAWD, AND COMMENTERS. Bill Holter rocks socks!!

    THANKS EVERYONE!!!!!

    • Bill Holter

      thanks Allen, keep digging for the truth!

  25. allen ols

    Bill Holter says;

    So, that about does it for news from me until after the first of the year. Next week I plan to pen a piece which so many of you have asked me for. I will try to write a fictional account of “The Day After” and what types of hardships and events I believe might happen after the markets seize up. If nothing else, it will be entertaining to me while writing it. Hopefully for you the reader, something, anything you may have forgotten in your preparations may get jarred loose in your mind and acted on. By no means will this missive be all encompassing as a full book is necessary but hopefully you get more out of it than pure fantasy!

    Wishing you all the best in this coming year!

    I LOOK FWD TO THIS ARTICLE. AL OLS

    • Bill Holter

      am working on it.

  26. Kip

    Greg,
    Thanks again for warning the masses.
    The Word of God declares there will be a time on earth when the world would experience hyperinflation , a days wages for a morsel of bread, (Rev. 6) that time is upon us and people better pay attention. Ps. Gold and silver cannot save you from what’s coming only JESUS can.

    • Greg Hunter

      Kip,
      Amen brother.
      Greg

    • allen ols

      Former terrorists now translating Bible http://ow.ly/Gc7UJ

      Former terrorists now translating Bible
      Bible translation is underway in areas hostile to Christianity and Westerners, but the real story may be the people doing the translation work.
      ONENEWSNOW.COM

    • Bill Holter

      I second the motion, AMEN!

  27. Outlookingin

    Thank you Greg for all your hard work throughout the year.

    Have a safe and Merry Christmas and all the best to you and yours in 2015.

    With the Creator willing, we will survive the coming global macro political/ financial calamity. His will be done. Blessings to all.

    • Greg Hunter

      Outlookingin
      Thank you for your comment and support and Merry Christmas to you and yours.
      Greg

  28. SReiser

    Greg,

    Thanks for another strong interview with Bill Holter. We wanted to respond to the Harry Dent argument that deflation is coming and that gold will go to $250.00 per ounce.

    Harry’s view is that as people in the USA (or in any country) age — that their spending needs decline and so do their stock markets as a result. Further, previous credit expansions prove to be wrong == and companies go bankrupt, experience hardship. In turn, the country’s currency (i.e., the dollar) rises as credit is destroyed. This is a excellent theoretical argument.

    However, what is really happening seems very different — even looking long term.

    Yes — the US consumer is aging. However, due to lack of or under funded pensions — the US consumers are working longer (i.e., spending perhaps dropping but not as much). The government due to rising health care, welfare, and other social costs — is paying more to take care of these individuals (note Romney’s 42% argument regarding many of the US receiving government benefits). Ultimately, the dollar falls in this environment and gold rises.

    Now one might say that the USA will be forced by the market to stop borrowing. When will this occur? Currently, Japan has shown that a country can apparently monetize all of its debt — so we have a while to go and a while for the dollar to fall before we get to this point. Do we see Japan stopping? Weimar (Germany) effectively showed that the process stops at a value of zero for the currency. The odds therefore tend to favor a much lower dollar longer-term. Mr. Dent’s theoretical argument — just appears to be at odds with what we see actually occurring.

    Regarding gold — we know that gold costs about $1200 (with no profit) for the miners to produce it. We also know that demand appears to exceed supply now. At levels much lower than $1,200 supply drops. However, if the US economy begins to slow (in non adulterated statistics), individuals will want more gold. Further, will Russia, China, India sell their gold in a deflationary crisis? We think that they will sell their dollars first — which again provides upward pressure on gold.

    Happy to hear any fact-based arguments that really counter these views.

    Thanks and Happy Holidays.

    • Bill Holter

      “Man” is funny duck so to speak, he wants what he cannot have and this is exactly what will explode the demand for metals, “shortages”.

  29. Larry

    Greg, the drums are beating louder and louder. The citizens sense that their is something not right with the world. People will become very very skittish as this disaster progresses.
    The distance from one bad situation to another is shrinking rapidly. With the advent of the internet and other technologies the citizens will be able to clear out a super market in record time. The behavior of average citizens will become extremely destructive . Keeping your head while all about you are losing theirs is crucial to your survival.

    • Greg Hunter

      Larry,
      “Keeping your head while all about you are losing theirs is crucial to your survival.” Good advice.
      Greg

  30. Mr,Lee

    Merry Christmas Mr. Hunter.

    I like the analysis of Mr. Holter, really informative guest.

    The Fed Reserve is the 3rd National Bank of the US. The Fed Res Notes is the currency of the country. There is nothing to say that the Fed can not be dissolved and a 4th National Bank can be created with a new US Dollar currency. Ten cents to the dollar an asset and liability valuations and presto….problem solved.
    I am sure that this is being contemplated

    • Bill Holter

      thanks for the compliment and Merry Christmas Mr. Lee. Whatever new currency(s) introduced MUST have the confidence of the public to be accepted.

  31. SReiser

    Greg, One other addendum on the Dent view. If people worldwide really knew and understood — that the US economy is actually in recession (and never came out of it), that earnings are propped up by stock buy-backs, and that the USA is technically broke (with huge unfunded liabilities) — the dollar would fall rapidly and all of those of $16 trillion in dollars overseas would come back to our shores in a hurry (i.e., there would be a crisis). This could occur in a matter of weeks/months. John Williams appears completely correct here — i.e., we would get a “small window” of warning — but then the entire situation could unravel very quickly (and technically — that is actually what should happen based upon the financial facts — all political jawboning aside).

    If the USA economy was really healing — and none of the data (e.g. housing starts, full time job growth, etc) seems to say this — we could say “okay,” we are coming back from the brink. However, the situation actually appears to be getting worse from what we are reading in the numbers each day. Do you see it differently, Greg?

    $250.00 gold sounds like a very dangerous suggestion; given the preponderance of severe US macro-economic risks. The more trusted advisor role — would be to tell everyone that “they should own at least some gold” — to protect themselves. Sure — hold some dollars on the really, really rare chance that Mr. Dent is right (it is just hard to visualize that hard money scenario coming into play before a significant crisis in the dollar). Technically, the risks are strongly skewed to a much lower dollar. Welcome any fact-based (and non-text book) analysis for discussion that can provide a different view.

    • Bill Holter

      he is doing a great injustice in my opinion.

    • Jeff L

      Another great post, today…………. and ” $250.00 gold sounds like a very dangerous suggestion “. ………….. Fear mongering at best. Gold is money. Gold is based on truth. Gold has passed the test of time………NO FIAT CURRENCY HAS. Period. Put another zero behind the 250 ($2500) and then multiples.

  32. brian

    Why is the market so high–where is the money coming from to push it up so far; it is coming from a decade of scared shi#less, ready to retire retail investors (aka working stiffs) desperately holding their nose, suspending disbelief in a mad dog, no holds barred search for yield and converting any form of savings that the previous decade left them with into investment capital, it comes from companies being allowed to print more stock like the fed prints money, it comes from fraudulent bookkeeping where expenditures are somehow counted as reserves and gains, it comes from allowing companies who exploit desperately poor labor markets and essentially partner with despotic scumbags and central state authoritarians to have unfettered access to first class consumer markets and it comes from a sundry of various shell games being played not much unlike the kind of game played with a sweaty green M&M, three paper ketchup cups and a heavily stained card board box lid in New Orleans…the sad joke is that just like the half drunk, sleep deprived tourists of the French Quarter, our willingness to entertain, tolerate or otherwise endure all these shenanigans will result in us being deprived of pretty much all of our wealth….and quite possibly our very lives, not to mention any spiritual integrity we might have had at one time.

    My advice; get on your knees and pray until you sweat blood and then do whatever it is you think you should…and do it now.

    • Freebreezer

      “Why is the stock market so high?” simple, when there is more money chasing fewer shares, the price is going to go up … a whole lot of companies are buying back millions and millions of their shares along with a lot of M&A (fewer shares again) plus the fed is pumping billions in to the banks … the money has to go somewhere. Note this has nothing to do with company fundamentals or the USA’s fundamentals and everything to do with (simple) more money and less shares. Man – o – Man would it be great to own the printing press!

  33. mohammad

    Greg,

    MERRY CHRISTMAS TO YOU AND EVERYONE ON YOUR FORUM.

    Mohammad

    • Greg Hunter

      Merry Christmas you and yours Mohammad. Peace brother.
      Greg

    • Charles H.

      mohammad,

      Thank you Doctor. Yours is one hand, my hand would like to shake. Merry Christmas to you. CH

      • mohammad

        Likewise Charles
        Merry Christmas.

  34. Arizona

    I HOPE EVERYONE IS GLUED TO THE LORD,cause the BIGGEST bloodbath in history is about to occur,and there won’t be anything to write in the history books,because there won’t be anyone to write it,WORLD WIDE,51,000 survivors,and writing history books will be very low on their plans,for the next thousand years,anyway……THE AMERICAN people won’
    t do well in the coming war,THEY just can’t be convinced anthing bad could happen to them,AND they will be the main point of focus for every terror group who has come to rape,murder and loot this country,AND YET everyone is BLIND to this….YOU guys worring about your money,YOU better be worried about surviving the fema death camps,cause if they catch you ,YOU WON’T BE LEAVING,and DON’T take the MARK OF THE BEAST or the chip either……it will be a ticket to hell…….

  35. Sayonara

    Greg:
    Your Bill Holter interview is outstanding. His views of our current circumstances is pragmatic, logical and easy to comprehend. I went back and reviewed the Harry Dent interview and read Bill’s blog “Harry Dent is Dangerously Delusional” and I absolutely concur with Bill. After listening and reading your original Harry Dent interview, I confess that it gave me inklings of doubt on some of my views. Bill Holter’s views have quickly erased those doubts. So now I ask how can Dent be so delusional? Dent’s view of currency and precious metals are what the Fed and government are trying to convey to the American people. So therefore, I have to speculate that Dent is a secret consultant to the Fed, treasury or some other government entity conveying the government economic message on perceived independent basis much along the same lines that Gruber conveyed Obamacare. What else makes sense?
    Have wonderful Christmas and Fear Not!

    • John Doe

      Sayonara,

      What else makes sense?

      It’s oblivious, were facing oblivion, Dent see’s the hand-wringing on the wall, just as we do and the powers that be. Unfortunately except for the grace of God, it’s soon to be every man women and child, for himself and Dent knows it. So what else makes sense? Keep this party going as long as possible and hope for the best and that something sticks to that wall of worry were throwing everything at, but prepare for the worst and that my friend is whats happening throughout the world in all quarters and stations in life.

      “The Lord God Almighty, the Ancient One, and the Great I Am That I Am has issued his call and warning. This warning has gone throughout the entire earth. This call has been issued from Adam to Enoch to Elisha the Tishbite to John the Baptist to John in the book of Revelation. God has issued this call to those who have an ‘ear to hear, let him hear what the spirit has to say.’ The Day of Judgment is coming upon man.” Ferguson, David J.

      People will faint from terror, apprehensive of what is coming on the world, for the heavenly bodies will be shaken. . . .◄ Luke 21:26 ►

      So lets shake rattle and roll. . . .https://www.youtube.com/watch?v=FqSIvwZVFoQ

    • Bill Holter

      thank you and Merry Christmas Sayonara!

  36. Arizona

    MY dear friend,I want you to do something,THERE IS A SEED VAULT IN NORWAY, IT contains every know PLANT seeds on earth, I want you to take a close look at it,and then,ASK YOUR SELF ,WHY DO THEY NEED THAT??next time I have a talk with you ,I’ll explain it…..you won’t like it,but then you’ll understand……

    • Jeff L

      I’ll save you the trouble (and suspense) because we all know. It’s no secret Az.

  37. Alyce

    Merry Christmas, Greg. I always look forward to your interviews, especially
    Bill Holter as he really gives original analysis…

    • Bill Holter

      Merry Christmas Alyce! Thank you for following my work!

  38. mike

    Re:Harry Dent…. He is right on demographics but dead wrong about his gold thesis. And he says the Russians and China are stupid buying gold! That’s over 2 billion stupid people? I really think now Harry Dent is being paid by The Big Boyz to say such all this. In any event, whether it’s inflation or deflation, the bottom line is that with gold and silver, i will still have something worth something regardless of how little it may be worth When everything is worth less than toilet paper! When will it happen, everyone asks…well you will die but tell me when?
    And where’s the hat, Bill??

    • Bill Holter

      his logic is gravely flawed in my opinion. Sorry, usually don’t wear it in the house.

    • Jeff L

      All the Harry Dent comments are ditto Armstrong…………….. Come on you fiat paper bugs………….. A dollar, backed by the full faith (of the sheeple) and $100’s of Trillions in debt…….. Yea, give me a ticket on that train………….. Again, it’s very simple. Fiat paper=lie, gold=truth ……….. One of the 3 gifts given (from the wise men) to the ONE who’s birthday we celebrate today. Even then the wise men knew truth.

      • Bill Holter

        ” Again, it’s very simple. Fiat paper=lie, gold=truth” …all you need to know is which one can be created freely and by man to know which one has value and which one doesn’t.

  39. allen ols

    greg, bill holter;

    Egon von Greyerz: “As we approach 2015 the world is on the cusp of a deflationary collapse. Central banks around the world are fighting trying desperately keep their economies afloat. Zero percent interest rates are no longer helping, so negative interest rates have been introduced in an attempt to create inflation….
    “Japan has utterly failed to get anything positive going, despite the endless money printing and zero interest rates. Central banks want to create inflation, but it’s a total fallacy that inflation is good for an economy. And it’s not inflation to save their economies, it’s more so to save their failing banking systems.
    The central banks know that without inflation the banking system cannot survive because no loans can be repaid. So the inflation/deflation battle continues to rage. This is why early next year the major central banks of the world will start printing more money. Without that we will have a deflationary collapse. That deflation will not be allowed to happen because it would mean the death of the global banking system, which would take down the global economy with it.
    Radical Change In Greece
    Greece is a microcosm of what will happen to the rest of the world. Greece has taken on even more debt since the start of the 2008 crisis, totaling 250 billion euros. As they have taken on this massive debt, their GDP has plunged by a staggering 27 percent since 2008. So their Debt/GDP has risen to a jaw-dropping 177 percent. Total unemployment is 27 percent and youth unemployment exceeds 50 percent.
    So there is no way for Greece to survive without leaving the euro. A left-wing party looks like they will take power in Greece. Their plans are to raise the minimum wage by 50 percent and not follow any of the austerity measures being placed on Greece. This is typical of the kind of radical change we can expect in major countries. One by one we will see the European countries fail, and the rest of the world will follow.

    China Slowing

    The falling oil price is due to a slow global economy. China is also slowing down. If you measure their use of energy, transportation, railways, etc, everything is down. This is further exacerbating the plunge in oil prices. But the price of oil may rise if there are serious geopolitical problems in a country such as Saudi Arabia. There is also the risk of hyperinflation which could turn the price of oil around.

    UK Gold Imports Into Switzerland Soar

    I would also like to note that Switzerland is the largest producer of gold in the world. This is why the Swiss gold imports and exports are important. In November Switzerland imported about 200 tons of gold. 110 tons of gold came in from the UK. For the year the total imports from the UK into Switzerland are 616 tons. Well, I wasn’t aware that the UK was a major producer of gold. Of course they aren’t.

    So the incredible amount of imported gold coming in from the UK is in the form of 400 ounce bars, that are then melted down into kilo bars, which are then exported to India and China. Therefore what we are seeing is the continuation of the depletion of gold from the bullion banks and the Western central banks. There must be very little gold left in Western vaults. The entire 110 tons of gold is coming from bullion banks and Western central bank vaults.

    The whole LBMA and bullion bank Ponzi scheme will blow up at some point next year because they will literally run out of physical gold. This will have a massive effect as the price of gold will be released to the upside.

    Panic In 2015

    2015 will be a year of surprises, Eric. In 2015 we will see central banks panicking as they unveil major money printing programs in a desperate attempt to halt the deflation. This is why money printing will be back with a vengeance in 2015. This is also why gold and silver will start a historic and massive rise in the coming year.”

  40. John o

    Is it Australia or Austria?
    Austria is auditing London Gold? google says yes
    Australia is auditing London Gold? google says….nothing

  41. allen ols

    …..In 2006, Wiedemer and a team of economists foresaw the coming collapse of the U.S. housing market, equity markets, private debt, and consumer spending, and published their findings in the book America’s Bubble Economy.

    Editor’s Note: See the controversial video where Wiedemer makes his claims. Click here now.

    But Wiedemer’s outlook for the U.S. economy today makes Trump’s observations seem almost optimistic.

    Where Trump sees ballooning debt and a credit downgrade, Wiedemer sees much more widespread economic destruction.

    In a recent interview for his book Aftershock, Wiedemer says, “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting as soon as next year.”

    When the host questioned such wild claims, Wiedemer unapologetically displayed shocking charts backing up his allegations, and then ended his argument with, “You see, the medicine will become the poison.”

    The interview has become a wake-up call for those unprepared (or unwilling) to acknowledge an ugly truth: The country’s financial “rescue” devised in Washington has failed miserably.

    Read Latest Breaking News from Newsmax.com http://www.Moneynews.com/Outbrain/Trump-Aftershock-American-Economy/2012/11/06/id/462985/#ixzz3MrZzldle
    Urgent: Should Obamacare Be Repealed? Vote Here Now!

    • JMiller

      I like how in the middle of the article that has Wiedemer’s future dire predictions, it has the following Editor’s Note:

      Editor’s Note: See the 5 signs the stock market will collapse in 2014. Click here now.

      Even though we still have a few days left in 2014 for the stock market to collapse, it is not a good thing to see if you are now predicting what will happen in the future. The video is basically an infomercial trying to sell his book.

  42. Galaxy 500

    T’WAS THE NIGHT BEFORE CHRISTMAS,
    HE LIVED ALL ALONE,
    IN A ONE BEDROOM HOUSE
    MADE OF PLASTER AND STONE.

    I HAD COME DOWN THE CHIMNEY
    WITH PRESENTS TO GIVE,
    AND TO SEE JUST WHO
    IN THIS HOME DID LIVE.

    LOOKED ALL ABOUT,
    A STRANGE SIGHT I DID SEE,
    NO TINSEL, NO PRESENTS,
    NOT EVEN A TREE.
    NO STOCKING BY MANTLE,
    JUST BOOTS FILLED WITH SAND,
    ON THE WALL HUNG PICTURES
    OF FAR DISTANT LANDS.

    WITH MEDALS AND BADGES,
    AWARDS OF ALL KINDS,
    A SOBER THOUGHT
    CAME THROUGH MY MIND.
    FOR THIS HOUSE WAS DIFFERENT,
    IT WAS DARK AND DREARY,
    I FOUND THE HOME OF A SOLDIER,
    ONCE I COULD SEE CLEARLY.

    THE SOLDIER LAY SLEEPING,
    SILENT, ALONE,
    CURLED UP ON THE FLOOR
    IN THIS ONE BEDROOM HOME.

    THE FACE WAS SO GENTLE,
    THE ROOM IN SUCH DISORDER,
    NOT HOW I PICTURED
    A UNITED STATES SOLDIER.
    WAS THIS THE HERO
    OF WHOM I’D JUST READ?

    CURLED UP ON A PONCHO,
    THE FLOOR FOR A BED?
    I REALIZED THE FAMILIES
    THAT I SAW THIS NIGHT,
    OWED THEIR LIVES TO THESE SOLDIERS
    WHO WERE WILLING TO FIGHT.

    SOON ROUND THE WORLD,
    THE CHILDREN WOULD PLAY,
    AND GROWNUPS WOULD CELEBRATE
    A BRIGHT CHRISTMAS DAY.

    THEY ALL ENJOYED FREEDOM
    EACH MONTH OF THE YEAR,
    BECAUSE OF THE SOLDIERS,
    LIKE THE ONE LYING HERE.
    I COULDN’T HELP WONDER
    HOW MANY LAY ALONE,
    ON A COLD CHRISTMAS EVE
    IN A LAND FAR FROM HOME.

    THE VERY THOUGHT
    BROUGHT A TEAR TO MY EYE,
    I DROPPED TO MY KNEES
    AND STARTED TO CRY.
    THE SOLDIER AWAKENED
    AND I HEARD A ROUGH VOICE,
    “SANTA DON’T CRY,
    THIS LIFE IS MY CHOICE;
    I FIGHT FOR FREEDOM,
    I DON’T ASK FOR MORE,
    MY LIFE IS MY GOD,
    MY COUNTRY, MY CORPS.”

    THE SOLDIER ROLLED OVER
    AND SOON DRIFTED TO SLEEP,
    I COULDN’T CONTROL IT,
    I CONTINUED TO WEEP.
    I KEPT WATCH FOR HOURS,
    SO SILENT AND STILL
    AND WE BOTH SHIVERED
    FROM THE COLD NIGHT’S CHILL.

    I DIDN’T WANT TO LEAVE
    ON THAT COLD, DARK, NIGHT,
    THIS GUARDIAN OF HONOR
    SO WILLING TO FIGHT.
    THEN THE SOLDIER ROLLED OVER,
    WITH A VOICE SOFT AND PURE,
    WHISPERED, “CARRY ON SANTA,
    IT’S CHRISTMAS DAY, ALL IS SECURE.”
    ONE LOOK AT MY WATCH,
    AND I KNEW HE WAS RIGHT.

    “MERRY CHRISTMAS MY FRIEND,
    AND TO ALL A GOOD NIGHT.”

    • Greg Hunter

      Thank you 500 for posting this!! Merry Christmas my friend!!!

      Greg

      • Galaxy 500

        I am a.simple man Greg. I.wish peace.to.our.friends.and to our enemies…desolation

    • Charles H.

      G5,

      That was marvelous. Thanks. Merry Christmas.

      • Galaxy 500

        Its not my.work. I found it and was so moved I.thought I would share it. My.source.had no attribution.

    • Thaddeus Thurston Thistlethwaite III

      Sadly, our soldiers are all fighting for US corporate interests and the banking cabal.

      • Mason

        Yes, sadly you are correct.

  43. Aman

    Greg, could you try to interview Jim Sinclair. He is in low these days. His views will be interesting against Armstrong view

    • Greg Hunter

      Aman,
      Hopefully in 2015, but Mr. Sinclair is the one who decides when.
      Greg

  44. Klemens

    Presenting the new Sainsbury’s Christmas advert. Made in partnership with The Royal British Legion. Inspired by real events from 100 years ago.
    https://www.youtube.com/watch?feature=player_embedded&v=NWF2JBb1bvM

  45. paul

    Greg …
    Reading through the comments I see many are confused about what “money” really is. The simple answer is “money” is created by God … not something created by man.

    Let me explain … when man creates a fiat dollar bill “it is not money” but simply “a promise or contract” to trade with to get “something real” created by God … the fiat paper promise “is not money” … the fiat paper promise “is simply a contract.”

    The “Word of Man” printed on any paper contract is never the same as “The Word of God”! … Men break their promises all the time … so why are people so trusting in something created by “the word of man” and so afraid of something created by the word of God? What exactly did God create by his word? Ninety-two or more physical elements in the universe.

    Over the centuries … man came to value God’s individual elements by their rarity when compared to all the elements he created … hence, when men first began trading one of God’s elements for another … men came to consider the rarer elements like silver for instance to be more precious then silicon (sand) … simply because God make more sand then silver when he created the universe.

    [As an aside: in God’s mind he probably considered “sand to be more precious” for making his many worlds in the heavens and why he made much more of it]

    Men can’t create elements like God … only promises … take out a fiat IOU from your wallet … it is supposed to represent a promise to pay you “something physical” created by God. But the problem with fiat promises made by men is … you can never depend upon men to keep their promises … when men get into trouble (like during a depression) they start jumping out of windows … how can promises made by such morally compromised men have any meaning … when their own lives have little meaning to them? 

    To summarize … “money” is something physical created by God not “a paper promise” created by men … “money” can be any one of the ninety-two or more elements that God created in his universe … these elements are “not promises” they are “real things” (the real money of God) …  however for us to carry around bags full of sand as money or a balloon filled with hydrogen as money is a bit impractical … so over the centuries man chose to carry around some of the “rarer elements” God created … assigning “more value to them” then to the more abundant elements (thus carrying one ounce of silver instead of truckload of sand). The important thing to keep in mind is that “money” is a physical element created by God … not a promise made by man!!

    Look at today’s fiat dollar bill again … it does not promise to pay you a single element of “God’s money” … though “In God We Trust” is printed on it … if you take it to a bank they won’t give you any of God’s silver for it any more like they once did … only another piece of paper promising to pay you another piece of paper … which promises to pay you another piece of paper … on and on to infinity …

    And it’s these fiat paper promises that Harry Dent says will have “more value” during a depressionary collapse because there will be “less promises to go around” … Yea right!

    We should not be collecting “the false fiat promises of man” as money … but collecting all the real elements of God (which is the only true money) … it just happens to be a lot more convenient to carry around a few ounces of the “rarer elements” like gold and silver when we want to trade rather then carrying around tons of copper, nickel, iron, sand, etc.

    • Bill Holter

      Amen!

  46. Galaxy 500

    http://www.stltoday.com/news/local/crime-and-courts/one-dead-three-critically-wounded-in-downtown-st-louis-shooting/article_1fa07578-5da8-51bb-8f6f-dcb8d9567312.html
    Do these black lives matter? It appears they dont matter to other blacks. Just like their excuse for keeping the vile “N” word alive, its ok if OTHER BLACKS KILL EACH other. Its just a problem if Police interrupt blacks in their criminal enterprises and the blacks get injured resisting arrest. If the great Dr Martin Luther King saw what these race baiting charlatans were doing to keep.his people.down with the help of the evil.Democratic.Party…why hell, it would look like what.Jesus did to the money changers at.the.Temple.
    These race baiting cretins, evil liars like Al Sharpton dont help race relations. To the contrary, their goal.is to widen the gap, not heal it. So on this high.Holy.day, I.pray for peace and a pox on evil men everywhere.

  47. Mike

    As usual Greg Great interview.
    I am a big fan of Bill’s writings.

    He is always very calm and speaks from a position of using logic to speculate what might come.

    Nobody can dispute the reality that there are many problems facing our monetary systems throughout the world.

    Equally nobody can state that debt is not a problem.
    Zirp is a act of desperation and this desperate measure will eventually become impossible to maintain.

    Derivatives are an act of hiding something out of site in the closet.. The closet doors are close to having their hinges blown off.imho

    Logic and recent developments suggest to many of us that 2015 will be the beginning of reality coming home for many of us.

    The mining sector has been nearly destroyed… Maybe that is the plan… Governments and manipulators destroy the mining sector and then pick up the pieces and emerge as the owners of all mining interest before allowing PM’s to again find their true valuation.

    I have a few trips out of the country planned for 2015 and I am not sure that these may be wise as the system begins to unravel.

    • Bill Holter

      Thanks for your support Mike, much appreciated!

  48. Galaxy 500

    http://www.wbtw.com/story/27705820/more-protests-sparked-after-shooting-near-fergusonBelmar said Martin had a criminal record that included three assault charge, plus charges of armed robbery, armed criminal action and unlawful use of a weapon.
    Phone messages left for his parents were not returned. His mother, Toni Martin-Green, told the Post-Dispatch that Antonio was the oldest of four children.
    “He’s like any other kid who had dreams or hopes,” she said. “We loved being around him. He’d push a smile out of you.”

    Yo, dawgs. He’d push a smile out of you as bullets push into.ya. He was.a good boy. He shared his ill gotten gain with mamma.

  49. Mike

    One final point.

    It appears to be a situation that we are as humans better prepared to ignore reality than to deal with reality.

    Refusing to acknowledge a risk does not diminish the risk, in fact it only allows the risk to escalate.

    For many the true size of the problem is greater than our capacity to understand and perceive.

    For that reason a large percentage of the population will not be prepared or able to cope when the reality becomes fully known.

    I thank God for giving me the wisdom to seek out knowledge and understanding.

  50. Frank w

    I think all of u keep drinking the same kool aid and can’t seem to think any other way

    After the last interview with GATT fellow government and central banks can distort all markets with unlimited future contracts

    My conclusion, this distortion could go on for a very long time

    Yes prepare but realize nothing is a given and frankly it will end when they want it to and there’s nothing any of us can do to prevent that

    Prepare and then enjoy today and tomorrow this could go on for a very long time. Nothing is certain and we are powerless to it

    The sky may not fall after all despite how much kool aid you drink

    • Greg Hunter

      Frank W,
      Merry Christmas to you.
      Greg

      • Frank w

        Thank you Greg

        Merry Christmas

    • Bill Holter

      “The sky may not fall after all despite how much kool aid you drink” …I propose skittles rather than kool aid for your “can go on for a very long time” unicorn. “It will end” when we can no longer deliver gold to the Chinese.

    • Galaxy 500

      Frank
      While there is some.truth.to.what you say, do you.continue to play.when you find out.the markets.are rigged? I think that you.will.find others besides the.US Watchdog.crew have stopped playing. As others quit enmass the system reaches critical mass

  51. Roderick

    Great interview. Hope to see this guest back often. Top of the class folks, you keep hitting them out of the ballpark with folks like Paul Craig Roberts, Jim Willie.. etc on USA Watchdog.

  52. Thaddeus Thurston Thistlethwaite III

    To Greg and all watchdoggers – Merry Christmas!

    https://www.youtube.com/watch?v=BthDnxNd7Zk

  53. Mike

    I think most people following this theory realize that eventually the malaise must be treated and they also realize that the powers to be have kept this ponzi going for decades already.

    Every illness needs to be treated with the eventual outcome of new found health but if one only masks the symptoms one only has temporary relief.

    Our economic health can only eventually return if we have some honesty and stability in the system. Balance needs confidence in the system, that confidence is fleeting at best and mostly the result of manipulation.

    The reason why some predict and end to the ponzi is that the some players in the Western Chess match are stepping away from the game and the war of financial survival is now one without the cooperation of all the other players.

    Western dominance of the ponzi is diminishing and every player is now playing for keeps and not playing for fun. (repatriation of gold is a symptom of the players stepping away from the game)

    This is the 11th hour and the rules are changing almost daily now.

    A non-delivery event will cause an escalation of events beyond belief for those that are not prepared.

    To believe that everything will be fine and everything will return to normal is simply not a justified probability all things considered.

    I am sorry but I for one just do not believe that 2015 will be a Happy New Year.

  54. Annie Running Water

    In December of 2012 (2 years ago now), I had the following short dream. I continue to tell this dream to anyone and everyone who will listen. Greg: your’s and Bill Holter’s EXCELLENT discussion gave me another urge to tell the dream to you and your readers…. I don’t believe it is saying to Not own gold, it is simply saying, as Bill does, that deliveries may be disrupted and when the store shelves are empty, Nothing will help (in the short term) to get food/supplies……so stock up! This is about Food.

    In this dream………I am “shown” empty grocery store shelves. A gold coin is then seen “floating” up to eye level over on the left hand side of the vision-field, including the empty shelves. A voice says:

    “All your gold won’t do you any good when the shelves are empty.”

    That’s it…short and to the point..…still gives me chills…..

    Can’t hurt to stock up on food and supplies!!!

    Blessings to all….
    Annie

    • Greg Hunter

      Annie,
      I think food and water should be #1 on anyone’s list. Thank you for sharing.
      Greg

  55. Glen

    Mr Holter gives a great interview. And, I agree with him 100%. You cannot predict with a great deal of accuracy when a derivitive collapse will happen. This is my psychic prediction for 2015. The end of the world is not coming in 2015 sir. But, we will slide further down the rat hole. PM prices may not moon shot in 2015. But, I feel they will rise in value. The US dollar may not go into the toilet. But, it will change directions and turn south. The price of oil will not stay below 60 dollars per barrel. We are going to see changes. But, they will continue to seem slow. I do not believe its the end of the world. Its a new beginning. Not for the US. We are ending our era of economic dominance. We are in the process of handing over the baton to a different nation. We solely need to adjust to the new economic reality’s. What does this mean? It just means that our children will not do as well as we did economically. Slowly but surely, life in the US is going to look more and more like life in Panama. It means our homes will not have a TV and a computer in every room. We won’t be buying a car for every household member. Cars will be kept a lot longer. Neighborhoods will begin to look more run down. You will keep your clothes a lot longer. You will see home gardening become more common place. You will see more homeless. The dollar will slowly but surely buy less. A bigger and bigger percentage of our income will go towards food purchases. Is this the end of the world? Naaaa. Oh, I forgot to say that children will not move out of the house until its time to get married. Parents might need to live in our home, not in the nursing home. Folks, this is normal in most parts of the world. Its not the end of the world. The hard part is making the adjustment. A little planning. A little thought, a little action, will make this transition seem a lot more smooth. Its not the end of the world. We cannot know how fast or how slow this transition will unfold. Best to start preparing now. My Dad used to share story’s of the Great Depression with me. Things could get that bad at first. Its not going to happen over night. It is in fact happening right now, slowly but surely. And, we are taking the first step by talking about it. How fast or how slow this happens is anyones guess.

    • Nancy F

      What a reasonable and logical description of what is coming. I believe you are right.

  56. Bob Tate

    Emeth, I tend to agree with Charles – gold is money. In some countries it is only way to by realstate in other where governments are purveyors of fiat paper people are brain dead about gold. Here is Mark Dice trying to sell 1 oz gold coin to Americans, have a fun with some good comments bellow:
    https://www.youtube.com/watch?v=ndshbH3qZ6Y

    I will quote the words of a “Great One” Allen Greenspan. ” Gold is ultimate form of payment” . Try to argue with All.

  57. Mouse Click

    The official numbers are skewed, so it is going to impossible to hypothesize the future economy. Plan for deflation, inflation, system continues, or system implodes. There is no point for waiting for an economic collapse, but one should plan for job losses. Get out of debt, move to cheaper location, stock up on food, or turn your hobby into a job.

    • Greg Hunter

      All good ideas Mouse Click. Thank you for adding them here.
      Greg

  58. Grant Dunn

    Thank you Greg for another great interview, your guest spoke of the financial fantasy land. Truer words could not have been spoken. Franklin d. Roosevelt said in the 1st annual message to congress January 4th 1935. “The attempt to make a distinction between recovery and reform is a narrowly conceived effort to substitute the appearance of reality for reality itself. When a man is convalescing from illness, wisdom dictates not only a cure of the systems but also removal of their cause.” In short we have been operating in the appearance of reality since the 1930s. In case you do not know the appearance of reality is another way of saying fraud or a lie. The whole world’s economic system is based on non reality or a lie. The Federal Reserve Banking system, a corporate tool of the Crown Corporation i.e. City of London, is at the heart of this monumental lie. Christ pointed out two thousand years ago who runs this charade “you are of your father the devil and his will you will do”. Their father the devil was a liar from the beginning and the father of lies. He also said know the truth and the truth shall make you free. You can know the truth (reality) or you can believe in a lie (appearance of reality). Lies can become very sophisticated and convoluted, and deceive us into believing in them, but no matter how much we may believe in them lies are not the truth and will never be the truth. The appearance of reality is collapsing. I hope everyone awakens to the truth (reality) before it completely collapses. May our heavenly father, the creator of reality be with us all in this time deceit.

  59. nm

    I must say that I learn a lot by reading the comments on this blog. What a brilliant bunch of readers you have here, Greg! There is no excuse for remaining ignorant in this day & age with the internet around — btw – noticed that no one had touched up on the issue of the internet in all their doom and gloom analysis. How can people use the internet to their advantage? e.g. to earn alternative sources of incomes if they lose their jobs?

    Scott – you said the following:
    The dollar isn’t strong because the U.S. is in recovery. The dollar is strong because in our quest for empire, Western banks are hell bent on destroying all dollar threats by forcing their worthless IR derivatives on every nation in the world.

    I’m an economic novice, but could someone explain to me what the above means? how are the banks forcing their worthless derivatives on countries?

    Having lived in a 3rd world country, I can say that the standard of living going down does not mean the end of the world. Life will still go on. Yes, you will have less material goods to enjoy, but the poverty will bring about a closer sense of community and attachment to family because you will have to rely and depend on them more for support. That is how the rest of the poorer developing world survives – by depending on their families for support and by having strong community ties – the increased social interaction will make you happier (much more than any material goods will)

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