Gold and Silver: Load the Boat-Back Up the Truck-Peter Schiff

th_PeterCutoutGreg Hunter’s USAWatchdog.com 

For anyone who sold physical gold in the current precious metal downturn, money manager Peter Schiff says, “There’s going to be a big problem because the gold they sold on the way down isn’t going to be available on the way back up because the people who own it aren’t going to sell it at any price. . . . This is the time to load the boat, to back up the truck.”  Schiff is a longtime advocate of precious metals and has taken much criticism in this downturn.  Schiff answers his critics by saying, “The people who are always making fun of me every time there is a pullback are the ones that never bought gold in the first place.  Even though it’s pulled back, it’s still a lot higher than it was when they first started laughing at me for buying gold.”  Talk of a new Fed Chairman to replace Mr. Bernanke will only be bullish for the gold price.  Schiff predicts, “If it’s solely based on which Fed Chairman is the most bullish for gold and silver, I would say that would be Janet Yellen.  No matter who’s put in at the Fed, they are going to keep printing because that’s all they can do.”  Schiff warns, “They’re going to keep printing until we have a currency crisis . . . and that is the most bullish environment for gold.  Don’t wait for the crisis to buy because you are not going to like the price.”  Join Greg Hunter as he goes One-on-One with Peter Schiff, CEO of Euro Pacific Precious Metals.  

Comments
  1. Mitch Bupp

    Hold onto “Precious” ….. I agree. There are real shortages which are being ignored because of the paper GLD market… In the end it always comes back to gold and silver….

    When the markets turn there will contagion everywhere with no place to hide…. Just hope you don’t have much money in the bank. Paper is poised to take a fall and reshuffle the economic table worldwide. The only question is what will TPTB blame the economic collapse without angering the masses and rally their support?

    Thank you Greg and Mr. Schiff

    • Greg

      Thank you Mitch Bupp for your comment.
      Greg

  2. Fraser

    Thanks Greg…

    But when has it ever been “better to be five years early than one day late”? I think that Peter’s constant enthusiasm is influenced more by his business of selling gold, than any real insight.

    For example, his last call on your show was not exactly well timed:
    22-Mar-2013 : “Gold has only one way to go – Up”

    Don’t get me wrong, I love the way he thinks and I respect the millions he is making and I know he will be right (eventually), but at the same time I am sorry that I ever listened to him on timing…

    • Greg

      Fraser,
      That’s why I brought it up. That is a legitimate criticism. Gold and silver are not trades they are core assets that you hold until it is the last thing you have to sell. Thank you for weighing in here.
      Greg

  3. Johan Taarg

    Greg,

    Supporting Schiff, here’s an article about Karen Hudes, the World Bank’s
    Sr. Counsel & whistle-blower. You really ought to do a piece with her,
    she’s a real insider. Sounds like precious metals will back currencies again.

    http://www.silverdoctors.com/world-bank-whistle-blower-precious-metals-to-serve-as-an-underpinning-for-paper-currencies/

    https://twitter.com/KarenHudes

    • Greg

      Johan Taarg
      Thank you for the perspective and link. Au and Ag are simply core assets and not trades.
      Greg

  4. Tady

    A bird in the hand is better than two in the bush!

  5. Silver Gonzales

    Great Interview and such clarity. This site rocks. But please tell me why have you not invited Mr. Charles Savoie to your site? Jeff Nielson had an excellent interview with Charles on his site.

    • Greg

      Silver Gonzales,
      Looks like I’ll have to invite Mr. Savoie sometime in the future. Thank you for the interview idea.
      Greg

  6. ChineseWilfong

    Peter Schiff is a smart guy. I liked the quote – “I think Yellen is a worse choice and that is why I think Obama will go with Yellen.”

    Good stuff

  7. Sanjay Kashkari

    (The following is a SATIRICAL PARODY)

    Ladies and Gentlemen:

    Allow me to introduce to you the next President of the United States ……..NEEL KASHKARI. Neel is a first-generation American who grew up in a middle class household to parents who immigrated to the United States from India some 50 years ago. Neel’s family stressed the importance of education and hard work as the keys to success in life. Although he did not come from material wealth, he recognized early the enormous advantages these simple but powerful lessons gave him, triggering an interest in getting rich and becoming knowledgebale about public policy from a young age.

    WHY VOTE FOR NEEL KASKARI FOR PRESIDENT ?

    1. Neel is an experienced, pragmatic, effective leader who has worked with both Democrats and Republicans to successfully tackle the most serious economic challenges America has faced in almost a century.

    2. Neel is a conservative Republican who believes in equality for all including Gay and Lesbian marriage and supports abortion rights for women.

    3. Neel supports the FED in all its endeavors to nurture and grow the economy.

    4. Neel believes in America and in providing good jobs for the citizens.

    5. Neel is tough on terrorists and traitors and believes in a strong national defense and intelligence network. His motto, “If you’ve got nothing to hide, then you’ve got nothing to worry about”, sums up his politican views on surveillance policy.

    6. Neel believes in a well developed prison network to deal with criminals.

    7. Neel saved the country from falling into a depression by workinbg hard for the American people while administering TARP thereby saving Amercia from a total financial meltdown.

    8. Neel has proved that the US doesnt need to go back to the gold standard and that the metal is indeed a barbarous relic.

    9. Neel has demobnstrated the superiority of Keynesian Economics over and above the Austrian counterpart favored by the unenlightened.

    VOTE FOR NEEL KASHKARI FOR PRESIDENT !!!!!!!!!

    • Greg

      Sanjay Kashkari,
      I never thought I’d say this and mean it but thank you for commenting on the site. I now know all your comments are a “SATIRICAL PARODY” designed to expose what evil people really think.
      Greg

      • Sanjay Kashkari

        Greg,

        The evil that a relative few people think in their minds is the same as that which guides their actions and schemes. Since “they” are in the minority (although a very powerful minority), their schemes and modus operandi depend on deception and stealth to make the unbelievable believable when selling their ideas to the public. To illustrate, I can say these same things as any politician with a straight face to most of my coworkers in the oil and gas industry (which should indicate I work around folks whose analytical skills should be well above average), but with nary any reaction just by saying things in a using certain words like freedom, children, liberty, security, etc. People have been dumbed down to the extent that as long as the right keywords are used, then the idea presented must be good or at least acceptable. If you take 9/11 for example, you certainly know that one must never challenge the government storyline even if the facts do not add up upon careful examination. Concerning 9/11, I recently read an interesting article that gives a very honest and concise appraisal and discussion about this. The author doesn’t pretend to know everything that happened and all the causes, but gives a good summary of facts why the official story does not add up. Given our current circumstances, 9/11 is an important piece of the mosaic underlying the current trajectory of our national predicament.

        The link to this 9/11 discussion is here …

        http://andrewatkin.blogspot.com/2011/12/was-9-11-inside-job.html

        The most salient point the author (Andrew Atkin ) makes in his discussion is found in the first paragraph where he says … “The idea of 9-11 being an inside job is not something that any sane person would want to believe. The implications of such a thing–if it were in fact to be true–are difficult to say the least. You would have to re-consider/develop much of your entire world view, and it would be to a view that is far from the happy “western sunshine” model that we all want to embrace.”

        This is exactly why sites like yours (USAWatchdog) exist. Even though rational intellectual people such as visitors to this site outnumber the “evil” people in the world, it is more or less accepted that a direct conflict with the evil minority would be a losing proposition since they have resources and advantages the average person does not possess. This fact puts people like us in a defensive posture which is centered purely on survival. This means saving precious metals as a means of exchange for the future (knowing that it can be reconverted back to paper money in the event society is able to continue as “normal”), guns and ammunition in case the dire necessity arises, a food and water supply along with other items. Only analytical people prepare for eventualities such as those requiring such forethought.

        This is at the core of why people come to your site. They are trying to figure out what their next move should and will be in the event it all goes bad.

        • Greg

          Sanjay Kashkari
          Thank you for taking the time to add your perspective to the site!!
          Greg

        • Venky Venkatraman

          Ka$h HariKari, may, as a hairless krishna, come back as a fly, or because he’s such a genius, the god of this world. Little g.
          There was a fly upon the wall, he had no friends at all. I shall pat him on da head, bang you maggot now your Fred.
          Because Ka$h HariKari is so afraid of us Untouchables, where’s Elliot Ness when ya need him? Bollywood, here I come, Arma gettin out ah here, Sahib!

    • Tady

      The Candidate doesn’t know, he has no clothes and the voters soon no freedom, if Ka$h HariKari, wins! Ps. Absolute power and Absolute vodka, corrupt absolutely, Joe Stalin. Arma gettin out ah here, exit stage right!

      • Sanjay Kashkari

        The “candidate” doesnt care “that he has no clothes.” The only thing this “candidate” Neel Kashkari cares about is power. After seeing the annointing of Obama, the people should be able to sniff this one out a mile away. He is a Republican so he will go up against Chris Christie of New Jersey. He will bring what is interpreted as unbounded charisma to the stage and he will handle Christie and defeat him easily the same way that Obama knocked Hillary Clinton into the cheap seats. He will look “presidential” and say all the right things, and while astute folks will see him for what he is, the AVERAGE people (that wont necessarily include you) will fawn all over him just like they did Obama. All the signs are there. This is what an annointed and groomed “candidate” looks like. Get to know the signs of this pedigree. Prepare…. and be prepared to temporarily relocate if necessary.

  8. Rodster

    Correction, the Fed will continue to print digitized money until we collapse. ;)

  9. art barnes

    Greg, gold was going to go down, it was planned. If you remember W. Buffet about a year or so ago made an off the wall comment about gold…”that will be the next bubble” he said. My point is the money people knew gold’s fall just wasn’t a coincidence, the shorts did come in. Remember, as you and your guest has stated countless times the system is rigged (manipulated), so how could gold not be used for profit & loss as well as others such as stocks, the dollar, etc. in such a system. I don’t think it takes a rocket scientist to believe that a product that cost $2,000 to produce would be that price or more without manipulation. The rising gold market is just a precursor to the collapse of the dollar or as your guest called it a “monetary crisis”. Once again, a blind man can see that this so-called “monetary crisis” is coming. Its only a matter of predicting the how long can kicking can continue until the wreck arrives. Inflation, gold rise, stocks fall, war comes, new currency, probably in that order.

    • art barnes

      I forget to add between war comes and new currency could be a “neo martial law”. They can call it anything they want, such as a “society protection” law, or whatever, remember bombing a county can be called a “preemptive strike” rather than an attack. Look Greg, as much respect as I have for you and your guest in general, protecting your assets or your economic ass is not as important as protecting your rights to be a free American citizen and live without being tread upon, after all the Constitution doesn’t mention gold in it that I know of! Frankly, I’m somewhat appalled at your guest making money on gold when the rights of the Constitution are up for grabs by the elite. I can hear the yells know, gold, gold, gold, that what we want, never mind a free society.

      • Venky Venkatraman

        Don’t forget the enlightened Keynesian, hairless krishna, Ka$h HariKari, Sahib! He’ll be the first to use the constitution as toilet paper. I’ts foreign to him because where he comes from, all men are not created equal. In fact he doesn’t believe he was even created. He thinks he’s better than us, just as he thought he was better than his fellow man back in the sub continent. We should send all the elites from there, back, in a yellow submarine, on a reminder vacation. Back to the land of the Bengal tiger, to remind them what made the United States so great. Not the caste system that they learned from the British and put on steroids. Or maybe they taught the Brits? Either way they want to bring it here and they wont succeed! We kicked the last elites out over 200 years ago and just as then, this time, world wide, whats supernatural wont fail to bring an end to those ruining the Earth. In fact unless those days are cut short no flesh will be saved. Pip pip, hooray, pip pip, hooray! God save the King and I don’t mean elvis!

      • John Galt

        Article 1 Section 10 I believe. Nothing but gold and silver for use as money.

  10. jerry

    Really interesting interview Greg. I agree that its good to purchase Gold and Silver, but I have a hard time trying to rationalize what you’re going to do with it when the collapse comes? The Banks will be shut down. Cash will be worthless. And the Feds will confiscate any tangible assets they can get their hands on. Somehow I can’t see you pulling your Gold in a little red wagon down to the nearest Bank to trade when TSHF. I see it as a long range strategy to use to gain wealth once things have stabilized and calmed down. Am I wrong here? I would rather be hunkered down somewhere with food and water waiting things out, than trying to find someone to trade with. Just my opinion. Its a far gone conclusion that the Feds will continue to print money until the collapse comes. Like Peter says they have no choice. But when push comes to shove I’d rather have food than Gold. You can’t eat Gold. Paul Craig Roberts is right. The window of opportunity is beginning to close. You can’t wait until panic hits the herd to take action. By then it will be to late. People consider yourself fortunate to be getting information from visionary’s like Greg Hunter. While the MSM is busy covering Obama’s butt, playing games, he is giving you the TRUTH!.

    • Greg

      Jerry,
      Gold and silver have a 5,000 years history of both money and a store of value. This is not a money making trade but a form of wealth protection. What is going on today with the global money printing has never happened in recorded history. What is coming is very big.
      Greg

      • david (archivesDave) clumpner

        ” What is coming is very big”…
        On that we can agree Greg.
        But the jury is still definitely out on what that “big” will be.
        I’d count myself 50% in with the hyper inflation Schiff crowd but
        you have to admit his timing has been anything but accurate, as
        per his last interview with you a few months ago.
        Contrarian Harry Dent’s demographics thesis has been definitely taking legs recently and shouldn’t be underestimated. Hopefully you can get him on before long to defend his position.
        If you do, be sure to bring up other Black Swan possibilities like a 100 Trillion Dollar joint IMF/FR global tax bond which would probably postpone the inevitable by a few years.

      • Vess

        Greg, the ability of gold (and maybe silver) to preserve value has not been constant over all those 5 millenia. Just like everything else in economics, money (even gold money) is subject to supply and demand. There have been periods of stong inflation even in countries that were on a gold standard, when there was a major influx of gold into the economy. Classical examples are Spain during the conquest of the Americas and California during the gold rush there.

        To answer the original poster’s question – you can’t do much with gold *when* the collapse comes. It’s too valuable. You can’t buy bread with it. You can buy a house, or a car – but that would be the least of your worries during a collapse. And, during the collapse, there will be plenty of people willing to cheat you out of your gold or simply to take it from you by force.

        The purpose of buying gold now is to PRESERVE your buying power for the time AFTER the collapse. Because, no matter how bad the collapse is, it will be followed by a recovery. It might be so bad and so long that none of us lives to see the recovery – but a recovery will come eventually. That is when you (or your children) can dig up your gold from where you have hidden it and be reasonably certain that its buying power has remained more or less the same.

        If you are worried about the time during the collapse, then other things would indeed serve you better – non-perishable food, weapons, silver, low-quality gold (14-karat jewelry gold in small amounts). During the Argentinian collapse the best valuables to have was not investment-grade gold coins and bars but a bag of low-quality wedding rings.

    • Sanjay Kashkari

      “I see [GOLD) it as a long range strategy to use to gain wealth once things have stabilized and calmed down.”

      You hit the nail squarely on the head in the case of a worst case scenario. The problem is that noone knows how bad or different from the current status quo it is going to get. Certainly food, water, guns, ammo, seeds, fuel and building materials (if you can secure them) all qualify as good stuff to have in the event of general anarchy (SHTF). Anarchy however is never a permanent human condition. People haveing common goals will band together within a short period of time for the sake of survival. History is filled with examples particularly during war time. Why not get to know your neighbors now ? Now there’s a strategy.

    • phybrr

      Jerrry you fool! I am sick and tired of your repeating the old adage
      that you cannot eat gold. Tell me, how are you going to get the food
      you want to eat. No one will sell food for fiat dollars but they will
      always take gold or silver.

      • BradS

        an alternative way of rebuttal would be, “Can you eat fiat dollars?”

  11. The 9's

    Beware of these infomercials on alternative news websites with proclaimed experts that play on your greed.

    True expert guests on that don’t profit off selling junk on the side appear less obvious than these salivating wolves who profit off your fears.

    • Greg

      The 9′s,
      Beware of people trashing other people while using a phony name.
      Greg

    • chad

      The alternative news is the only real news.The others are just reality shows.

      Peter knows his Stuff he has never backed down from a debate on any videos i have seen.On the other hand it is true he is still a salesman. Dont listen to the “buy now” and make up your own mind when it is time to buy.

  12. Mike

    Money has an intrinsic value, thus gold and silver are money. Currency is backed by a promise. Promises can be and often are broken. Interesting that the FED creates dollars (a.k.a. currency) while the Treasury mints coinage (a.k.a. money).
    The smart bet is on money, exemplified by the “in-the-know” super wealthy who are converting their currency into money.
    The human tragedy will be revealed by the millions who continue to be duped by the MSM puppets.
    Hold onto your money for the post crash era and hoard survival supplies for impending days of catastrophe.

    • Vess

      People who repeat that “gold has intrinsic value” never really bother to stop and think.

      Value is not a property that is intrinsic to anything. Value is always in the eye of the beholder and the value of the same thing can change depending on the circumstances. An ounce of gold has different value relative to a gallon of water depending on whether you are dying from thirst in the desert or sitting comfortably in your house with a working water tap nearby.

      Furthermore, the only thing that creates value is labor. So, the only “value” gold has equals the amount of labor necessary to dig it from the ground and to refine it – which is usually much less than its market-assigned value/price.

      The “intrinsic” properties of gold are its physical properties – color, molecular weight, melting and boiling point, etc. They are objective and don’t change with the observer or the circumstances.

      It is because of some of these physical properties that the free market has found gold to be the most convenient means for exchange and value preservation – not some mythical “intrinsic value”. Under other circumstances other things could be chosen by the market as being better for these purposes. For instance, if a golden meteorite hits our planet in an easily accessible place, the value that the market assigns to the gold you already have will drop precipitously, so its ability to preserve value is not a God-given axiom.

      What is important is that the free market is left to freely choose what to use for money. It is very likely that it will choose gold and/or silver – but that is not important. The important thing is the ability of free choice. Sadly, this ability has been taken away from us decades ago. I will to hope that one day we’ll have it again.

  13. Tired

    How many years have we buyers of metals been hanging on the oh-so-wise missives of the likes of Schiff, Sinclair, Faber, Rogers and on and on adnauseum? While we KNOW ultimately, 99% certainty, metals will at least for a time, until the monster govt’s of the world confiscate them, be viable to sustain at least a basic-essentials way of life, I for one am weary of these sages. Remember Sinclair just in the last six to nine months said “gold will never drop below 1600″? Buy when you can at any price and hold for the long and forget all the “back the truck up” nonsense.

    • Greg

      Tired,
      hey man let me pick a number for getting into gold. How about $300 per ounce, $400,$500, $600, $700, $800, $900, $1,00, $1,1,00 . . . Hey, gold doesn’t look so bad now. If you want to trash someone here, Man-up and use a real name. “Tired” yeah me too. I am tired of criticism from anonymous people.
      Greg

      • Tired

        You need to read carefully what I wrote: I said forget the sages, you don’t need them. BUY all the metal you can when you have the cash and HOLD it because we all know the sh@@@@ about to hit the fan and guess what, that sh@@@@ knocking on your door NOW!!!!!!!!!

        • Tired

          And BTW, yes I too bought gold at $385, yep I backed the truck up THEN and put all my cash into gold, but I didn’t need the metals sages to convince me; because you see I could read the fine print and see the sky falling without the redundant droning commentary. Do you really think that if a reader isn’t motivated by NOW by what is so painfully obviously coming to America and the world after ALL THESE YEARS after thousands of hours of heads up, do you REALLY think they will get it NOW?!!!

        • Greg

          Sorry Tired. My bad.
          Greg

  14. Scott

    For the doubters, Peter Schiff is legit, insightful, and honest. He knows what he’s talking about. While the timing is always in question, the outcome never is. If you need a really good investment advisor you might want to check out Peter’s company, EuroPacific Capital. Unlike the typical investment advisor who doesn’t understand the fundamentals of what is going on, but is merely interested in making a quick buck at your expense the investment advisors there really take good care of their clients. They’re also one of the few brokerages that offer foreign stocks like China.

  15. Troy

    LOL! Fear profiting wolves selling junk.

    You can lead a horse to a 5000 year track record, but you can’t makum think!

  16. Albert tesla

    I have a question.

    People seem to have this faith and trust in gold because of its dependability in the long run and the fact that it retains this ” real worth”.

    , but lets say tomorrow the moon was found to have inside it X times the amount of gold earth produces. We then started harvesting this gold and returning it to earth. ( again this is all hypothetical).

    If this scenario occurs, in whatever shape way or form related to the hypothetical event above, wouldn’t gold suddenly just be another dollar? Does gold now become just another physical element to widely capable of obtaining? Thus, faith destroyed once again the “holiest of currencies”

    Doesn’t that entail that the only option to become an eternally stable financial system is perhaps no currency at all?

    • Charles H.

      Really, Albert – you serious? Following your argument is like asking “If God made a rock too heavy to lift: could He lift it?” First of all – the use of SPECULATION is frivolous; and most speculation is unprofitable, theoretical, and impractical. It may be clever to put forth a suggestion – one that fits all the Liberal mindset seeking to dissuade that gold has a more enduring and therefore superior value than fiat currencies: but you give NO proof, no conclusion to your suggestion – only leaving it hanging. (It’s called: planting an idea.) But let me answer your conundrum anyway.
      There currently ARE celestial imports here on earth – we commonly call “Moon Rocks”. Please tell me how much it will cost to buy one??? Not even well endowed museums can front that much cash – and that’s because of the astronomical cost of retrieval. So your suggestion cannot remotely approximate the reality that exists today. Even IF there were a concerted effort to realize such import – many hundreds of years might pass before a break-even point is reached. We might not even be around then.
      Would you like to trade me a scalpel for a stalk of celery?? A pint of cherries for a ball-bearing??? Modern-day complexities, and the diversity of products and services are too much for anything which would approach a “Barter System” today. I’d like to see you try to pay for your electric bill with a little piglet. To solve this problem, they devised “Currency” (of the realm), which approximated a store of value, based upon an agreed basis exchange-value. Currency facilitated commerce in a widening and increasingly varied market. And we know markets expanded internationally. As long as the “Currency” had agreed-upon value, proven over centuries of national and international experience: it all went well. This describes gold and silver – “the holiest of currencies”. The only problem to your suggestion is that nothing has ever destroyed the faith in these metallic stores of value. It is still being bought, still being hoarded, still being ‘gamed.’ India, China, Russia, or about more than half the world population IS highly valuing these precious metals. History isn’t changed; except by fools, for fools. Modern Western test-tube intellectuals may find it faddish and interesting to play fast and loose with time-honored principles; but most of such experiments tend to blow up in the experimenter’s face.
      If you are REALLY interested in getting to that place where there is no currency at all – become Amish or extreme Mennonite. Only problem is: you have to roll your sleeves up and REALLY work for a living. Otherwise – blow smoke in some other direction.

    • Troy

      http://sciencefocus.com/qa/why-gold-rare

      Gold owes its status as a precious metal to its rarity: all the gold mined throughout history would fit into a square box with sides of around 20m in length. That’s not because of a failure to mine more. Gold is rare throughout the Universe because it’s a relatively hefty atom, consisting of 79 protons and 118 neutrons. That makes it hard to produce, even in the incredible heat and pressure of the ‘chemical forges’ of supernovae, the deaths of giant stars responsible for creating most chemical elements. There’s even doubt that supernovae are up to the job. Recent research suggests that even more violent events, such as collisions between neutron stars – the ultra-dense cores of dead stars – may be needed.

      • Brian

        Not to be a wet blanket, but this is assuming that the “laws of physics” as man has come to understand them are complete and cover all aspects, occurrences and conditions in this universe. The reality that radioactive decay rates were recently discovered to be variable over time and that gravity itself may not be a force that is uniform and consistent point to the fact that mankind does not have a firm grasp on how nature works in all its wide variety of circumstances and splendor.

        With that said I still think gold should be the foundation of our money…….until like in that old twilight zone episode, man figures out a way to make it haha.

  17. Jim H

    Hello Greg and fellow Watchdogs
    Why all the fuss? Everyone is not upset about the way things are or the way they will be. I know I’m not. Why would I be? All the world’s major currencies are losing value & people are working harder/longer for less. My profits have soared. Our data miners tell me all your habits so I’m always a step ahead of you. An old friend of mine started a rumor back in the 30’s causing everyone to do a run on the Banks putting themselves in dire poverty while making me millions. He’s passed now but his seed and my seed will live on. You can buy gold, pork bellies or anything you believe can make you secure but our system allows us to manipulate you and your seeming good in any direction we want. By most accounts we probably have around 64% of the worlds wealth because our pyramid has worked so well. If we want guns gone, there will be murders with assault rifles. If we want to look at all your correspondence and know your whereabouts we will bring down buildings killing many and bust little pimps until you beg us for protection. Who knows more about the way your system works, you or we who created it. You think what you see today has never happened before? Of course it has it’s your attention span that’s your problem. Your so busy working, shopping and retiring to CNN/FOX to have a critical thought. We count on that. I must admit, the little Occupy thing made us a tad bit nervous but our media was able to quickly frighten you quell your critical thought and put you back to sleep. So plan as your parents did for their old age and see who ends up with it. We have been able to step up our pace more than we believed possible. Our New World Order/Globalization is at hand.
    Signed
    Un-named Investor.
    Satire or truth? You decide

    • Charles H.

      Hello Jim H, or Un-named Investor,

      It never ceases to amaze me when pseudo-intellectual Liberals post some prepotent, quasi- threatening rant on these far peripheral sites: and think they are hidden by some weak mix of historical interpretation and assertions of their superiority. You have viewed one too many episodes of “The Outer Limits”. “We control the vertical; we control the horizontal…” Besides – satire is based upon partial-truths.

      The question to ask is: are you speaking to the right audience?!? Most people who subscribe to this site aren’t planning like their parents. Watch CNN and Fox? Are you joking – they caved long ago.

      And your “old friend” that started that rumor: how old was he? It wouldn’t have been some kid, all wet behind his ears back then – to be listened to. If he was 30 years old in 1930 – then he’d have been 70 by 1970. What did you do – hang around old people as a kid? And most New World Order neophytes were born after the 70’s. Also that rumor had to have been told in 1929, NOT the 1930’s. I will say that you do hit the tops pretty well; but your construction or composition is really bad and destroys your own propositions. ‘Data miners and being a step ahead of us…’ – puh,leeeeeze!!! Tell that to your wife, if you have one. No one of any consequence or importance would write a post on a site like this, showing their hand. No one with any character would hide behind anonymity. Posing probabilities as veiled threats is typical, weak, psychological bullying – the evidence of a coward. Instilling hopelessness? Think again.

      Sure the One World Government , via the New World Order is coming – but little Liberal hacks like yourself will join us in the FEMA Camps when your usefulness is ended. I call BS – all you’re doing is blowing smoke, and aiming for our face to boot.

      Greg Hunter is really starting to get to the Establishment. It’s clear by the increasing number of invasive commentators posting here – who are not really “contributing”, but cast dispersions. They are going to have to do better than the likes of you. Join my “No Read List.”

      (Needless to say – you’re doing great Greg. Excuse me for rubbing back so vigorously on these phonies. Modify or omit my posts as you please; you won’t offend me at all.)

      • Greg

        Thank you Charles H for your comment and support. It is nice to know we are doing some good here.
        Greg

      • Saq

        *standing and applauding* Bravo……..

      • Jim H

        Hello Charles
        The man’s name was JP Morgan and as stated satire. Please don’t let my tiring of the status quo and negativity upset you. I enjoy this site and get much good from it. Just over time have really come to believe, nothing is what it looks like it is. Gold prices only one example. Forgive me if I offended.

        Jim

        • Charles H.

          Jim H,

          Sir, will you will please consider the following? I am thoroughly familiar with the use of irony and satire – they are the “minor weapons” of Literary expression, and lesser than than direct criticism or calumny. I am also aware of J. P. Morgan and the unregulated conditions of “The Roaring Twenties” which gave rise to the “29 Stock Market Crash and the Great Depression of the Thirties. Your weak synthesis of it, combined with current “data mining” techniques was perhaps effective to those who are not very discerning. And since you gave NO evidence that it MIGHT HAVE BEEN satire: it could ONLY be taken for what it stated. If this was an “honest mistake” on your part then that is misfortunate: because it has defined you.
          Such behavior falls under the principle of LYING. Those who lie, and then get caught in the lie – always make disclaims such as ‘I was only kidding (joking)’. And those who accept such excuses are usually subjected to further abuse. The issue is NOT to lie in the first place. The other, related issue is misrepresentation – which generally uses portions of truth or partial truth in order to gain advantage, and eventually realize self-benefit at the expense of others. I cannot say which of these may apply, if any, to you and some other posters here. Again, I have ONLY that which you present – without explanation – to go by. The impression you left with your post was both contrary and threatening, period. Now you want to soften the blow and make things over friendly like?

          Any organization that stands firmly against another WILL be subject to infiltration and erosion from the inside. The saying: “The devil will tell ninety-nine truths in order to float one lie” – is the operative principle here. And since Greg Hunter is the David in the fight against Goliath – the odds are in favor of this Liberal leaning world. I don’t care if you are a brilliant Indian student angling for a post in America, or an Edward Snowden wanabe who wants to show their stuff by gaining a foothold in the enemies’ camp. Not with me. You can “friendly -up” all you want by taking an intellectual position to the Conservative side and wax brilliant in argument and expression: but I am not about to buy into it having been burned thoroughly once. When I read comments – I look for MOTIVE – WHY are they saying these things? When I encounter someone who only presents something that I determine as meaning harm: that’s it for me, I’m done. Harming others without need, to me, defines the base or basic character of the person. The world is growing more and more evil: and there is no use to playing on THAT side. Remember Orson Wells? When he produced the “War of the Worlds” radio broadcast – people actually killed themselves because of the false impression he publicly made. He may never had intended those consequences: but that is what happens when you push the envelope so far.

          Perhaps I am a little more defensive that most; but then again I may have more experience in being abused also. I post with Mr. Hunter, as a guest. It is a great privilege on my part to be accepted. But he knows, or should know, that the criteria I express here must apply with myself also: and that if I display anything harmful or purposely detrimental – I should be banned. And there is a difference between posing questions and raising issues for open consideration – and slamming down a ‘Big Brother’s going to get you’ open ended argument. How do you “tire” of the Status Quo when you make a statement fully in support of it? This is “double-speak” to me.

          There are many good, even very good posters on this site that consistently contribute and add to the general content and stream of it. Those who are consistent and have proven themselves I gladly read and consider – not having to question their motives through veiled statements. You and Mr. Kashkari seem willing to tread in areas I find objectionable and unacceptable. Am I too strict? I speak and act only for myself. I appreciate the apology. You may continue to post as you will – but your actions, or expressions have alienated me. You will have to forgive me if I do not weary myself with following your subsequent posts. Frankly, I do not believe you are on our team. Feel free to do the same for me.

          • Jim H

            Charles
            Only two comments. You seem full of yourself (having never met you I can’t be sure) and you seem to think you know much about people you’ve never met.

    • Sanjay Kashkari

      Jim H.

      It appears, I have created a monster by setting a bad example. Please admit to satire, fly right and sin no more. That is what I am going to do.

      • Jim H

        Sanjay
        I tried bowing before the throne but alas it was not good enough. What shall I do. Think I’ll follow rule 62 and not take myself too seriously. ENJOY!

  18. RoryC

    The most profound thing to take away from this entire interview is that inflation is so terribly rife that real money (GOLD) isn’t profitable to be extracted from the ground at $1200 to $1300 an ounce due to operating expenses. The US dollar can keep printing while everyone is forced to use it to buy oil but with Saudi Arabia coming out and stating Oil exports are collapsing due to decreased global demand the effects of Inflation are about to become abundantly more apparent with the US Dollar we haven’t seen anything yet! Oh and if you don’t live in the US and think this won’t affect you? WRONG! Every nation on the planet has Dollar Reserves. The Less the US Dollar is worth the less purchasing power those paper currencies have as well!

  19. Mike R

    Greg,

    First of all, I have followed Mr. Schiff for quite some time. At one point he did sound original in his thinking. And while I do hold precious metals as a core asset, my view is that Mr. Schiff now does himself, and his viewers a dis service by always saying the same things. He’s like a broken record, and he is always making some comment about how people “laugh at him” or bash him as if to prove some point about how he’s right and others are wrong.

    He just doesn’t need to do that anymore. He should make his points, and not mention other people or what they think or say about him. Sorry but he loses a lot of people that way, and there may be a whole more people who could be educated about th US system, and Mr Schiff can make some fairly compelling arguments when he wants to.

    In summary, he could help himself, and prospective gold or silver “converters” if he only would just lose some of the whiny rhetoric. He tries to make it funny, or self effacing, but it just ain’t working for him. And nor will his audience grow very much, if he continues ad nauseam as he seems want to do.

    • BradS

      Mike – he wouldn’t have to sound like a broken record if our government changed their printing habits…

  20. Allen Ols

    Greg

    Jim willie just posted silver doctors.

    Said sinclair,celente,sprott,schiff, p c roberts etc. Are NOT. Talking about the eurasian trade zone, gold backed yuan, (yuawn) :-) and the direct attack of russia, ie BRIIICS. To eliminate US dollar as reserve currency

  21. Sanjay Kashkari

    Greg,

    It is often difficult to understand why the current house of cards has endured as long as it has. A reckoning seems so imminent and so assured that it surely must happen in the very near term. I am sure most readers of USAWatchdog have woken up surprised many times over the years as a continuous stream of events have unfolded.

    When Shiff is asked to prognosticate in this interview about the coming appreciation of the gold price, he wisely balks at the idea. Surely, he has put up suggestions in the past about what he believed a reasonable time frame would be for the gold market to make a certain move, but having been off the mark a bit (like all of us at one time or another), he has finally come to have an understanding of the long term nature of the process. The other greats including Sinclair are similarly limited in their ability to say “when” and reliably provide timelines. The only thing that is apparent over time is the powerful momentum building for the “move”, but velocity is only part of the equation. The “move” could be interpreted as rise in the gold price or silver price of even the breakdown of civil order. The “move” means differnt things to different people.

    The saying “Rome wasn’t built in a day” applies here. The US is as good an analogue to Rome as there ever was and I would posit that we are at the juncture we are at specifically as a result of several key events from as far back as 150 years. The main consequence of the civil war was the mutation of the national structure from state centered control to that of a vast centralized government. Then, the Federal Reserve Act of 1913 put us on a path of ceding control of monetary policy from Congressional control to a group of private bankers whose actions have continuously diluted the value of the dollar currency. After that came the New Deal, which expanded the role of government and allowed further erosion of the country from a land of opportunity into a welfare state. World War II provided impetus for the creation of what President Dwight Eisenhower referred to as the “military industrial complex.” Thus the machinery for “misplaced power” as Eisenhower described it was finally in place. Concurrently, from the 1930s to the late 1960’s, the removal of all precious metals from American monetary circulation came about by way of Roosevelt’s gold confiscation and the subsequent replacement of silver coinage with clad slugs.

    For the last 50 years, we have endured one gobsmacked crisis after another in the political, business and financial arenas. Our understanding of how things are supposed to happen have continuously been challenged and even uprooted altogether. Events from the 1970’s to the present have oscillated strongly between chaos and delicate order. We certainly had a taste of chaos during the period of time when the oil embargos of the 1970’s, Watergate followed by a glimmer of hope during the Reagan years. Yet, even during this time, government fiscal responsibility remained inept. Fast forward to the feel good Clinton era when the Glass-Steagall Act was repealed and recall as one new financial product after another was invented and marketed while the Federal Reserve provided the monetary fuel for endless bubbles. It was like a broken record. The NASDAQ Tech bubble, the DOT-COM bubble, the Housing Bubble. Then 9-11 happened …….. silence. What changed ? ……… Everything !

    With the advent of 9-11, the rule of law began to die. We now reside in a state of continuous disbelief. Things never dreamed of before are happening with increasing regularity. Who would have dreamed that mortgages could be packaged up and traded as bundles of securitized debt while the normal process of recording instruments such as promissory notes and deeds in trust is turned upside down ? Who would have thought that vast robo-signing operations could exist where rule of law reigns supreme and with no repercussions for the perpetrators ? Who would have thought that Credit Default Swaps would be underwritten without any actuarial backing and would be the single most important factor in bringing the financial system to its knees during the financial crisis of 2008. Who would have thought that segregated funds (which have historically and legally been sacrosanct) could disappear as a result of negligence or malfeasance such as occurred at MFGlobal with no criminal prosecution ? Who would have thought that institutions such as Lehman and Bear Sterns would be extinct as a result of Wall Street subterfuge and brinksmanship while AIG is bailed in order to prevent significant losses at Goldman Sachs ? Who would have thought that one day we would wake up to a CSPAN exchange where Senator Levin grills Goldman Sachs executives about the Timberwolf “shitty deal” that was unabashedly marketed to Goldman clients ? There are numerous more smoking guns and fires all around that could multiply the contents of this paragraph 100 fold or more. Suffice to say that since 2008, the pace of dislocations has accelerated.

    In Cypress, we heard about a new development of financial rocket science called the “bail-in”, which some commentators view as a dress rehearsal for things to come in America. In Boston, during the bombings a whole city was essentially on lockdown with residents prevented from leaving their own properties. Whats next ? Its really hard to know. The only things that we know for sure is that things will not occur on any predictable timeline, which is why preparation is essential and for as many scenarios as can be anticipated. This doesn’t mean be paranoid. It simply means that one should think outside the box. That said, everyone will have their own way of preparing consistent with their belief system and perception of credible perils.

    • Rebecca

      Superb.

    • Rich

      Awesome. It’s nice to read a level headed comment.

    • BradS

      Excellent post! Good recap of the last several hundred years!

  22. jerry

    Greg after reading some of your posters comments, I have to wonder if mental instability foreshadows denial, and then panic. For some people who choose to live in a state of denial, the “straw man” principal seems to be their only course. We can all argue whether 2+2 really does equal 4, or whether it is just an opinion. But at the end of the day it doesn’t change reality. Is it a reality that the Feds can’t stop printing money, or just an opinion? Is it a reality that the national debt is 125 Trillion dollars, or just an opinion? When you look at the “False Reality” the main stream media has created, its easy to understand how people can get confused. Its easier to pretend everything is alright, than to face reality. But every time I fill my car up, or buy food at the store, or look how much LESS my money is buying, I am brought back to the reality, that the dollar in my pocket is buying less everyday. Its time to wake up people. Greg is telling you the truth. Listen.

  23. Jill Newman

    Hi Greg,

    This is the 2nd day that I have had trouble with the audio on your site. Did something change? Are other having the same trouble. Please advise.

    Thanks,
    Jill

    • Greg

      Jill,
      You are the only one reporting problems. I checked it and it seems fine to me. I an so sorry you are having trouble.
      Greg

  24. Solomon Sunder

    No wonder Indians store gold like anything even when the Finance Minister cries hoarse that Oil and Gold are destroying the economy by causing huge import deficits and even applies heavy restrictions on it. Gold is the only thing that can help you if the country’s economy goes belly up. It can still feed you if you are lucky enough to move to a better place or country.

  25. NoOneOfConsequence

    I don’t really get the whole “buy gold” thing. If you actually do the math, gold is a brutal investment, and a very poor protection against inflation.

    It’s like all these guys conveniently forget about the extremely unfavorable taxes on gains in gold.

    The more inflation we experience, the worse your gold investment becomes. If inflation takes 90% of the dollar’s value away, and gold holds it’s value – the price of gold has to increase by 10 times in the same currency. If that happens, then you are net zero – your purchasing power hasn’t changed, but you haven’t lost all your asset.

    Now the income tax due on that kind of gain is obscene, and actually wipes away a large portion of your original investment. In reality – approximately 40% of your purchasing power will be lost to taxes! This means that you net out at a 40% loss over the time of your holding gold.

    The other thing about gold is how annoying it is to have money frozen in it! So, recently the price tanked by 20%…anyone who recently purchased gold has a paper loss. They can’t sell, because they will realize their loss…so they hold. Effectively – they can’t use that gold as money. Now it’s just a pretty metal, taking up space and being a target for any would be break and enter thief.

    • Greg

      NoOneOfConsequence,
      You have the logic of a child and have I told you how much I dislike anonymous people giving analysis. Man up and use a real name but even than wouldn’t really help me swallow this.
      Greg

      • Vess

        His main problem is a rather widespread one – he points that gold is a poor investment. He is quite right in that – but it is a non-squitur (sp?), like those who say that you can’t eat gold. Gold is money and nothing else. Gold is NOT an investment – it bears no return. Gold is NOT food – you can’t eat it. Gold is only money. It is completely useless in situations where money is useless (think about dying from thirst in the desert with nobody around to buy water from) and the best form of money where money is needed.

        However, he makes a valid point. You have to account for capital gains taxes when evaluating the ability of your gold to preserve value. The taxes you pay aren’t adjusted for inflation. If inflation debases the dollar so that the dollar price of your gold increases tenfold, you haven’t become any richer (you still own the same amount of gold) – but if you try to sell your gold back for dollars, you’ll have to pay capital gains taxes, which will eat away a significant portion of the value that your gold has preserved.

        In that aspect, probably the best financial transaction is to borrow dollars at the current low interest rates and use them to buy gold. The taxes will take away some of the gold’s value, but since you will be paying the loan in debased currency, things will more or less even out.

        Unfortunately, the above presumes a reliable stream of income – so that you are able to service your debt. And nothing is reliable in a collapse. You can (and probably will) lose your job. And if you cannot service your debt, you will lose everything, including your gold.

  26. Russ Smith, Caliornia

    Hi!, Patrons Of USAWATCHDOG.COM Et Al:

    1st Mr. Art Barnes: Yes!,OUR Constitution definitely mentions both gold and silver coins to be used as OUR two and only forms of money in lieu of OUR debts. That is found in Article 1; Section 10 and if that pricipal had of been applied, sir, the TROJAN HORSE Federal Reserve System could have NEVER been implemented to rule over OUR Republic. Now, however, that we the people have squandered away that Constitutionally defined money, in order to subjugate ourselves to the FED., we can’t possibly still be living within the United States of America and so what should we call OUR Nation now?
    In OUR Lord And Savior’s Gospel we read that He was sent “For God so loved OUR world” and I personally would like to see what’s presently happening end on the note of His universal love for all of mankind but will we try that way out and when?
    We each in OUR own way struggle I think with OUR abilities to think things through clearly but can we develop a better guidance system by which to reliably define OUR mission of both understanding and resolving problems for ourselves; our families; our communities and finally for OUR Nation at large? Yes, I think we can.
    I would like to take this opportunity to quote a summerization of OUR thinking problems quoting from a book from Macalester Park Publishing Company out in Austin, Minnesota,(800)407-8078, should anyone like to order it from them. The book is “IWill Lift Up Mine Eyes”by Dr. Glenn Clark. His writings are very thorough and space here allows me to only provide a very small look at some of his thoughts from his book.
    Early in OUR childhood we turn OUR sensations and perceptions into opinions. Opinion, therefore, is the rist round of OUR ladder. Opinion, after being carefully examined and thought upon, becomes a conception. As the conception grows firmer and clearer in OUR minds we accept it as a Belief. Next comes Trust. A man believe a parachute will open but still not trust his weight to it. When he arrives at Trust, he has reached the stage where thinking begins to be converted into action.
    When one Trusts his Belief, he is at the threshold of true Faith. When Faith becomes settled and peranent we call it Conviction. Then dawns Realization and we begin to function in the undimentional realm of heaven. Finally we reach the stage of absolute knowing.

    KNOWING

    REALIZATION

    CONVICTION

    FAITH

    TRUST

    BELIEF

    CONCEPTION

    OPINION

    What stages do OUR thinking rest upon, when we think about the type of economic security we desire for OUR lives; the lives of OUR Family members; the lives of those in OUR communities and the Life of OUR Nation as a whole or even the entire world? I personally think a careful study of Dr. Clark’s principals and others he can teach US from his book may lead us all into the kinds of frames of references we need to solve OUR ailing econmy etc.? Surely, OUR founding fathers utilized this type of clear thinking but do OUR present political leaders lead US in unison with the unities of purposes we can find written by OUR founders we know as the Constitution Of These United States or haven’t we been lead astray into a common economic ditch? I submit these thoughts for whatever good they may convey and also submit that others could state it much better than I have here This is OUR Ship Of State and WE need to be “WE THE PEOPLE” ITS’ RUDDER in my opinion!!

    RUSS SMITH, CA. (One Of Our Broke Fiat Money States)
    resmith@wcisp.com

  27. Dale Holmgren

    When Jim Sinclair said on July 20, 2002, when gold was only $323 an ounce:

    “But in my heart of hearts, what do I think technically is possible, assuming that everything I’ve said is correct, and I do assume that? $1,250 an ounce.”

    I believed him, I started buying, and I’ve never looked back. Not when gold went from $1000 to $800, not now. He nailed the price 8 years before it happened. You have to load the wagon and ignore the noise.

    http://www.financialsensearchive.com/transcriptions/2002/Sinclair.html

  28. Albert tesla

    @ Charles H

    Thank you for taking the time in responding to my question.

    You said something along the lines of ” the world (nations) have a set agreement on what the buying power is of gold and silver”

    So when I read that I though, hmmm, in the event of a ww3 type scenario, and the nations of the world were once again divided up into axis / allied type power factions, I see it as a very really possibility that gold can easily be crippled by US global influence by them simply saying ” If your on ourside gold doesn’t mean squat”.

    And I don’t think it comical to dismiss the scenario given, it doesn’t have to be specific to the concept of moon harvesting, it could be anything along the lines of something scientific that leads to a sudden mass influx of a supply of gold.

    And as for your comments in regards to the barter systemi, you make it sound quite simple minded and almost put it in a negative light. Why so? Because it does not fit the over excessive needs of what humanity has become accustomed to?

  29. John Anderson

    Mike R makes a valid point in regard to Peter Schiff’s reaction to criticism
    Why give them so much recognition ? Who cares what others say or think! There is always those who will criticize the actions of others. And hate them when they are right.
    I appreciated your comment on gold/silver being a core asset . Here is my 2 cent worth of advice. Buy precious metals when you can and liquidate when you need to.

  30. Russ Smith, Caliornia

    Hi!, Patrons Of USAWATCHDOG.COM Et Al:

    I would like to elaborate on what Jim Anderson advises buying precious metals when U can and selling them when you have the need:
    Two years or so ago both passenger side tires on my van collapsed on the 99E Hiway here in Ca. sending it over an embankment into a ravine stopped only by the high embankment on the other side plus knocking down a farmers’ fence holding back his cows from geting onto the FREEWAY. Luckily some firemen recognized my accident and reported it to the Hiway Patrol who then relayed it to bring on some Firetrucks to the scene etc. U can’t immagine how many huge volcanic bolders my van missed in sliding some 500 or so feet to its’ final rest. The van was still running!
    However, at the end of this incident I faced buying new tires. The tires that blew had great tred left but the sidewalls had oxidized & burst. I had a few years back purchased some silver rounds for around $5 each. I took them to a coin shop nearby who paid me $40.90 each to the extent that Les Swab Tires replaced my 4 main tires using my silver money. U can do Ur own figuring of how much more would have been paid out of my pocket; had I kept the original $5 for each silver round? The silver purchase provided me an better than 8 to 1 leverage for this particular need. I was very pleased with my silver position especially for my futures’ safety’s sake.
    Just one practical example/idea on how silver or other precious metals, when purchased at the right timing of their upcycles, can benefit US. Had I stayed in fiat paper, my new tires purchase would have cost me 8 X what it actually did out of my pocket. The credit goes to guys like Greg here, James SinClair, Peter Schiff, Doug Casey, Bill Bonner, Richard Russell, Bob Moriarity and many, many, many others. Perhaps this true story can help someone open up their own perceptions on the viabilities of owning precious metals but that is up to them. Good luck to all!!

    RUSS SMITH, CA. (One Of Our Broke Fiat Money States)
    resmith@wcisp.com

  31. Russ Smith, Caliorniar

    Hi!, Patrons Of USAWATCHDOG<COM Et Al:

    This information is being submitted only to begin discussions if they are warranted by the rest of U?
    That I know all currencies today are fiat unbacked by not even the smallest smidgen of gold…..right?
    If we sell OUR gold at any time during the insuing economic cycles and re-enter fiat paper, are we thereby totally selling ourselves and gold short? We buy gold. That puts us into gold doesn't it? We sell OUR gold and go back into fiat paper in order to make what we call a fiat paper profit which can be useful for paying off debts etc. but are we not at the same time sacrificing OUR more secure position owning gold itself?
    The US Constitutions' Article 1; Section 10 tells all of US that we are to have only gold and silver coins as OUR money but WE have instead allowed the infiltration of the Federal Reserve System to bring on the demise of OUR own Gold Standard know as the Bretton Woods Agreement that held OUR currency in check by tieing it to gold until August 15, 1971 when Nixon closed OUR US Gold Window on Creditors wishing to redeem their dollars as promised them @ $35/troy oz. Had we lived up to the demands of Article 1; Section 10 of OUR very own US Constitution the Federal Reserve TROJAN HORSE would have NEVER been allowed to get its' roots/claws into OUR Constitutioally protected economic system. Now we are stuck with their fiat paper, their interest rates; their National Debt; their Balance Of Payments Deficits etc. including higher than needed unemployment/underemployment etc.
    Therefore, when we purchase gold with the FED's fiat paper money but then turn around and sell it for their fiat paper again in order to make a personal, fiat paper profit etc., are we not thereby providing the FED. with great credence of its' various economic operations and thus empowering them to continue to assert their false, unconstitutional fiat powers over OUR collective heads imprisoning everyone including OUR political leaders here and abroad plus also OUR worldwide military? How therefore do we divorce ourselves and our total economy from its' control over OUR economy under the influence of their fiat money magnified by their Fractional Reserve Banking practices that dilutes the purchasing power of every fiat $ we use worldwide on a daily basis plus those created by QE etc. far into OUR future? My mentor sensed that this would ultimately culminate in a total flight from the US $ whether it's the world's reserve currency or not. This I beleive to be illustrated by economist John Exeter when he first provided US with his Inverted Pyramid anyone can find on the internet using their search engines. When then will we get this ultimate flight from fiat paper money into gold and what do we need to think may precipitate it?
    How do we contrast the above with what Dr. Marc Faber tells US toward the end of the video, MELTUP (around 57 minutes), we can hear @ The National Inflation website wherein he says gold should be pegged (no longer traded?) @ around $1,000,000 per troy oz.? He said this prior to the begining of the FED's QE programme and so would he declare a higher price for gold being pegged thereby today? I wish he would come on Greg's show and elaborate on his declaration about gold's price etc. We need to be informed by authoritative information and not left second guessing about such major issues don't we?

    RUSS SMITH, CA. (One Of Our Broke Fiat Money States)
    resmith@wcisp.com

  32. Erik

    It was once said that insanity was doing the same thing expecting different results. While this may be true it should be noted that trying to be practical in an impractical world is insanity. At some point you will come to the realization that right has nothing to do with wrong, east never meets west. Light and darkness never associate-all that is left is for us is to make up our minds. And with that comes the change we are all hoping for. It either is or isn’t. There is no such thing as grey unless you are describing a coward who once advantage comes will slice your throat. Metallica “SHOW YOUR SCARS!”

  33. Tom

    I trust in Shiff. He speaks earnestly about the truth of State of Affairs. Yes, he owns a business selling PM’s, but he was touting PM’s way before Euro Pacific was conceived! Thanks!

  34. Jim

    The world is entering a new era, one that the present-day global monitary system was never designed to support. Tectonic shifts are placing near breaking point stresses on all global markets. So far, these stresses have been mitigated using $Trillions in OTC derivatives. But as time marches forward, it is becoming harder to kick the can down the road.

    TPTB are in a near panic about how to fix the system without causing a total meltdown. Everything going on in the gold market is a result of trying to keep the OTC derivatives from blowing up and sparking the mother of all financial crisis.

    Sometimes the only way to clean up such a mess is to cast aside the old promises and the old way of thinking– then start over with: a new slate, a new plan, and a new set of rules.

    Can society really afford to perpetually support millions upon millons of non-functioning economic units? TPTB have already decided the answer to this question. And, for those of you who can add 2+2 to get four; the real purpose of ObummerCare becomes crystal clear.

    In the novel, SOUL RIDER by Jack Chalker, teenagers who come of age are all forced to participate in a lottery; where a handful of unlucky souls are sold into slavery and expelled from the homeland.

    While all the teenagers are told that the lottery is completely random, it is in fact rigged. The novel’s PTB, a religious order, keeps very detailed dossiers on all teenageres using spy-tech. Months before the actually lottery takes place, priests review each child’s dossier with the purpose of keeping only those children who will benefit their society; with the remainder being sold off into slavery.

    Are we creating a real life lottery using the health-care system, where today’s real life PTB review NSA collected dossiers to decide who will live and who will die?

    Did you know that in most hospitals today, computers not doctors tell nurses what drugs to give a patient and in what amount? A computer glich [random or by design] could result in an otherwise healthy individual being soft-killed by a nurse who was just following established proceedures and computer generated orders.

    With ObummerCare, hospital computers are networked with Gov’t computers officially for accounting and insurance purposes. So when a computer glitch results in a person’s death; finger pointing will occure in a MagicK Circle that goes nowhere in an endless stream of denials. But 99.99% of deaths will be covered up with endless medical mumbo-jumbo, and not even reach the finger-pointing stage.

    The great culling has already begun. Aquarius stands at the doorway that lay just ahead.

  35. Heidi

    It is unreal how the ” gold promoters ” still yell ” buy gold ” and for what reason . But when you read Martin Armstrong ( who has no gold to sell ) it sounds totally different . And if Peter Schiff believes in hyperinflation or whatever he believes in is coming for gold to move up …..he better reads Armstrong to get a clear picture of WHY gold can go up or not .
    Buying gold is one thing but reading all these GOLD Promoter’s – incl. Sprott / Sinclair – can hurt you more than the timing on buying gold .
    Gold stopped for a reason to go up further for over 24 month now ….there has to be a reason , right ?
    Get educated and stop listening to the wrong people about gold …..read Martin Armstrong !

    http://armstrongeconomics.com/2013/09/27/gold-monetary-expansion/

    • Greg

      Heidi,
      So you think confidence in government is high right now and will continue? You need to read the last few lines of this post from Armstrong. Also Mr. Armstrong does not =mention all the manipulation in all markets including gold. We have an economy being propped up with Fed money printing while simultaneously it is suppressing other parts of the economy. Interest rates are not being set by the market and gold and silver aren’t either. Thank you for the link and comment.
      Greg

  36. Heidi

    Back again …I don’t know how many people were hopeful for gold to continue it’s rise by Mar. 2012 …look what Armstrong wrote in 2012

    http://armstrongeconomics.com/2013/03/01/gold-sales-10-tons-per-day/
    http://armstrongeconomics.com/693-2/2012-2/gold/
    A 13 yr. low was expected which came in 2013 …
    http://armstrongeconomics.com/wp-content/uploads/2012/03/armstrongeconomics-flash-crash-030112.pdf

    and now ? Gold holds barely above $ 1325 and the lows might still not be in . Nothing to sell but the truth .

    • Greg

      Heidi,
      The “truth” looks a little different for people bought gold at $300 and ounce.
      Greg

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