Gold Tracks Irresponsibility of Central Banks-John Browne

Economist John Browne: QE and Gold UpdateGreg Hunter’s USAWatchdog.com 

Former advisor to UK Prime Minister Margaret Thatcher and economist John Browne says, “I think it is very near a bottom for gold before it will resume its cyclical upturn, and it will track the irresponsibility of the central banks printing cash from nowhere.”  How will central banks stop the money printing orgy?  Browne contends, “The four most influential central banks in the world are hooked on QE, and I wonder how they’ll ever get out of it because when they even talk vaguely, they may just taper off and the stock market takes a dive.  People are worried.”  Another big worry is war in the Middle East.  Browne says, “Israel cannot allow these sophisticated missiles in striking range of Israeli air fields and their aircraft.  They are very dangerous missiles and very accurate.  Israel simply can’t allow that.  So, the situation is worsening by the day.”  Browne goes on to say, “Commotion in the Middle East, which involves outside major powers, would be very bad for world security and, of course, have a major impact on oil and, therefore, on gold.  Gold is insurance against catastrophe, and a major blow-up in the Middle East would tend towards catastrophe because nuclear powers are involved.”  Join Greg Hunter as he goes One-on-One with John Browne, Senior Economist at Euro Pacific Capital and author of “Hidden Account of the Romanovs”.

Comments
  1. Nathan

    So if the rumors of the alternative media are true ,that gold is being manipulated by the Central banks ,why would anyone want to invest in it right now ? You’re not going to “beat the street” or win a fist fight with the Fed when they have an Abrams tank . I’m not knocking the alternative media in anyway ( I LOVE IT ) . Also , I agree that it very well could be manipulated (See L.I.B.O.R ) But if that’s the case why accumulate something that’s intentionally being suppressed ? The only catalyst that could undo this is a serious flare up in the Middle East (Which is one Israel strike away )

    Keep up the good work Greg Hunter .

    • Greg

      Thank you Nathan.
      Greg

    • jc davis

      Good point Nathan. I buy gold, and mostly silver for the same reason I buy a fence for my chickens.. To keep the predators out. PMs are a rock that will never disappear. Dollars will.

  2. Nathan

    Greg,

    This just a personal question for you . In all of your years as a reporter have you ever experienced a time like this ? The last five years have been like a walk through the Book of Revelations . We’ve went from worldwide financial crises , to social unrest on an unprecedented scale , Bizarre weather , Wiki leaks , Political and financial scandals on a global scale , Wars and rumors of wars , Mass shootings , The spread of Global Jihad , Meteors blowing up over Russia , Mass animal deaths , Hell even the Pope called for a World governing body and banking system “with teeth” -Forbes- . I could go on and on and on and on ………

    • Greg

      Nathan,
      What is going on now especially with the global money printing, has never happened in recorded history. Who knows how it will end but I think it will be very bad for most.
      Greg

  3. DAVE

    Hi Greg
    Great reporting mate..Here’s the latest from the Fed which came out very late friday and didn’t make any news to speak of.The actual minutes are really disturbing.So check this out along with Peter Schiffs latest You Tube vid

    Thanks again Greg

    Federal Reserve Advisory Committee Worries About Inflation, “Unsustainable Bubble” In Stocks And Bonds

    http://www.ibtimes.com/federal-reserve-advisory-committee-worries-about-inflation-unsustainable-bubble-stocks-bonds-1287261

    • Greg

      Thank you Dave for the comment and the content!
      Greg

  4. Jerry

    Very interesting interview Greg. Mr. Browne seems to have a handle on what’s going on in the world markets.
    Greg do you think the Feds forced the price of Gold down, so they could keep printing money and delay the collapse? Just curious. At some point they must realize they can only keep their finger in the dike for so long. Somehow I get the feeling like we’re playing the (board game) of “Risk”. You know you spend 90% of the game just getting your pieces into place before you pull the trigger.

    • Greg

      Yes Jerry, the Fed has been playing for time because no fix was every initiated. Just phony accounting (FASB 2009) and massive global money printing.

      Greg

  5. Troy

    Very much appreciated the interview Greg.

    Mahalo

    • Greg

      Thank you Troy, KC and Fraser
      Greg

  6. KC

    Greg-

    An absolutely wonderful guest. Very informative and incredibly knowledgeable. Keep the great guests coming. Mr. Browne is an excellent compliment to Jim Willie’s view on gold and the manipulation thereof.

    -KC

  7. Fraser

    Great interview with a most charming and intelligent gentleman. Congratulations to both you and Peter Schiff for finding him.

  8. Anne Elliott

    Excellent interview and a nice new perspective from the European viewpoint.

    Thank you for letting us know about Soros’ actions too. If Soros took his EFT’s in physical gold, that should be a red flag to all of us that we need the actual metal and not be just in paper (paper gold or paper otherwise!).

    And you and Mr. Brown are so right-on about Syria – that it could easily slide into another world war, only this time with Russia… who just recently deployed a naval presence “permanently” to the Mediterranean Sea, and now also is sending nuclear submarines to patrol both north and south poles. As they say “we live in interesting times”!!

  9. David

    Greg, your guests tend to be one-sided towards Israel. You need to do more interviews with guests who take an oppossing view towards that country. You should interview George Galloway or Jeremy Scahill when it comes to what occurs in the Middle East. John Browne says that “Israel cannot allow these sophisticated missiles in striking range of Israeli air fields and their aircraft. They are very dangerous missiles and very accurate. Israel simply can’t allow that. John Browne does not mention that Israel strikes countries with impunity such as the missle strike in Syria in 2011 that turned out to be a textile factory or how Israel has nuclear missles in the Dimona power plant. Or how it has been caught selling nuclear missle technology to China.

    • Greg

      David,
      Gerald Celente takes the other side on Israel and I have had him on several times.
      Greg

      • tsuki

        And Paul Craig Roberts. Keep doing what you are doing. It is important to listen to both sides of an issue, not re-enforce your own bias.

    • Troy

      David,

      I hear you. If you just looked at the repeated deeds/actions of this one nation, to it’s neighbors and occupied territories without naming it. Then presented it to any rational thinking human American, they would no doubt condemn them. As soon as it’s preempted with the name Israel, the blinders go up, in a hypocrisy of cognitive dissonance. I can’t speak for Gerald, but I don’t think he has a dog in the hunt.
      He only, all to well, points to this fact!

      Thus said, I thing Greg does a great job here, and presents as fair and unbiased as a humanly possible. It is said that opinions are like a-holes. Everyone has one, right or wrong.

      “a passionate attachment of one nation for another produces a variety of evils. Sympathy for the favorite nation, facilitating the illusion of an imaginary common interest in cases where no real common interest exists, and infusing into one the enmities of the other, betrays the former into a participation in the quarrels and wars of the latter without adequate inducement or justification”….

      “And it gives to ambitious, corrupted, or deluded citizens (who devote themselves to the favorite nation), facility to betray or sacrifice the interests of their own country,”

      “such attachments are particularly alarming to the truly enlightened and independent patriot. How many opportunities do they afford to tamper with domestic factions, to practice the arts of seduction, to mislead public opinion, to influence or awe the public councils.”

      “Against the insidious wiles of foreign influence (I conjure you to believe me, fellow-citizens) the jealousy of a free people ought to be constantly awake, since history and experience prove that foreign influence is one of the most baneful foes of republican government….. Real patriots who may resist the intrigues of the favorite are liable to become suspected and odious, while its tools and dupes usurp the applause and confidence of the people, to surrender their interests.”

      From: George Washington’s Farewell Address

  10. Richard E. Brown

    Greg –

    Hope you don’t mind feedback. You do a lot of interviews with gold pushers which I think detracts from the overall good coverage of domestic and world problems. You don’t ever do interviews with people who recommend other actions rather buying gold as insurance or investment.

    I retired about 2 years ago and downsized to a small farm in the north-east Pennsylvania. Moving to the country side has substantially reduced my cost of living. Around the time I moved, the price of gold was close to $2000 and I’m glad I didn’t invest any of small retirement fund in gold. The farm is my family’s insurance in the event of a financial crisis. My family is also fortunate to have the good fellowship of a faith based community and this far outweighs whatever a handful or two of gold eagle coins could ever bring.

    Nouriel Roubini predicts that gold will fall further to $1000 by end of 2015. A respected economist, he argues that “gold may be a store of value for wealth, but it is not a means of payment; you cannot pay for your groceries with it. Nor is it a unit of account; prices of goods and services, and of financial assets, are not denominated in gold terms.” Gold has “no intrinsic value and used mainly as a hedge against mostly irrational fear and panic.” Roubini should be high on your list of people to interview as he offers a well reasoned contrary view to the one being frequently advanced on your site.

    Here is the link to the Roubini article: http://www.project-syndicate.org/commentary/the-end-of-the-gold-bubble-by-nouriel-roubini

    RB

    • Greg

      Richard,
      “Gold pushers”? Funny, people never say “stock pusher” or “bond pusher” or “housing pusher.” I love feedback and you are very kind and civil. I appreciate that. Did Roubini actually say Gold has “no intrinsic value and used mainly as a hedge against mostly irrational fear and panic.” What do you think the Fed is doing by printing $85 billion a month. Talk about “fear and panic.” Can Dr. Doom please let us all know how he thinks the Fed is going to stop the $85 billion a month without the stock market crashing and interest rates spiking? I just look at the data Richard Brown, and I let it take me where it leads me. The global money printing has never happen before in recorded history. History is very clear about what happens when countries do this. Thank you for posting your perspective and for the link in your comment.
      Greg

      • Chip

        “I just look at the data Richard Brown, and I let it take me where it leads me.”

        Spot on Greg. And that’s what makes your site so good…

    • Anne Elliott

      My grandmother-in-law told me stories of how her family survived during the Great Depression; no one had cash anymore, and so when her father did bookkeeping and accounting work for people or businesses, he received gold rings and jewelry as payment. As a result, her family became relatively wealthy after the Depression ended. Gold will always have bartering value, and you have to realize that not everyone is as blessed as you are with your community of friends and family around you. Some of us have had to move away from our family for our jobs, and/or have no children or family close by to rely upon. We therefore have to “shift for ourselves”… But with the grace of God, we will prepare the best we can, and live accordingly. To be honest, gold is nothing but a stone from the ground, and I value work skills, access to water and food, and good shelter much higher than gold, but if a measure of gold will save some of my family from a future calamity, as it has in past history, then I will try to have some.

  11. RainCoastGhost

    Greg, your “Watch Dog” status suits you. Thank you.

    I agree with the historical import, of these times we are living in.
    Nothing like this global financial/politico stew has occurred before, with the exception of the start of WW I.

    The similarity between that time frame (1911-1914) and now, vis-a-vis the global war tension, is frighteningly real. Mister Browne’s take on this is prescient. Keep watching and reporting. Very much appreciate someone who still practices the “W5″ of journalism with honesty.

    • Greg

      RainCoastGhost,
      Thank you for your support and comment.
      Greg

  12. jc davis

    Greg. When a poor man worries about failure he holds his hand out to God for answers. When a wealthy man worries he counts his gold. The queen is worried.
    Soros, Germany, and many the like are worried.
    I like the interview. John Browne has a way of capturing the ear. He reminds me of a wise man named Solomon.

    • Greg

      JC Davis,
      What is coming will have a profound effect on both rich and poor. Thank you for weighing in here!
      Greg

  13. Rishabh Dave

    If I was not in the business sector I am in, I would find it natural to want to play the gold trade. As a personage of Indian heritage, I am predisposed to it. However, I have become very wealthy playing the derivatives trade even with the interuptions caused by 2008 bust up. In the scheme of things, liquidity dried up only temporarily and now things are humming hard and fast and better than ever. There are plenty of suckers out there and it is so easy to hedge against mortgage backed securities, interest rate swaps and many others. It baffles me that gold traders literally make pennies while those of us playing derivatives make thousands a day. In addition, there is really plenty of gold out there. You cant blame the large holders of gold like Bank of New York that dump it at these toppy prices. I keep hearing and reading about huge demand for gold and gold scarcity, but I can assure you that this is all very far from the truth. It is even worse in the case of gold equities. Entire proprietary trading units make tons of cash shorting the market at critical chart pounts. It is so predictable. Wash … rinse … dry … and repeat. One of the perfect cookie cutters out there today.

  14. AndyB

    Greg: It’s always a good wake up to hear a voice of reason. Thanks for the interview with JB. His comments on the ME strike a chord; primarily because TPTB and their political puppets have run out of band aids and duct tape; a big distraction is needed. War is the ultimate one, and unfortunately, is in the cards and is the perfect excuse for more global totalitarian control. Dangerous times for individual liberty and freedom.

    • Greg

      AndyB,
      “Dangerous times for individual liberty and freedom.” Spot on man!
      Greg

  15. George Parks

    Greg,

    have you ever heard of analyst Jon Nadler ? He is very knowledgable about the gold market having participated in the gold market for decades. He is very concerned that people who are buying gold are going to get their faces ripped off. After watching whats been happening the past year, he makes a good case and who can argue with those successful folks who plugged their investment nest egg into the blue chips? We have DOW at 15,000 plus now and will be 25,000 later. I mean c’mon! Most of us want to be safe not sorry. Plus inflation concerns are really overated. I have been paying $3.00 to $3.50 for gas for many years now.

    • Greg

      George Parks,
      So you think the Fed can make you rich with this $85 billion a month to infinity? All the best my friend.
      Greg

  16. Warren Raftshol

    Greg,

    The Balance of Payments deficit doesn’t seem to be getting much coverage lately. As an investigative reporter, you ought to be asking yourself “why?”.

    The BOP deficit has more effect on dollar collapse then QE does,

  17. Chip

    Got to be one of the most brilliant guys you’ve had on Greg. Awesome interview. Thanks…

    • Greg

      Chip,
      Thank you, I thought so too. I hope to have him on again.
      Greg

  18. Jim

    I think we are moving toward some big event. Financial catastrophe, currency debacle, mideast blowup, climate change etc.. We’ll know when it gets here. I’d rather be up to a couple years early correctly positioned for a crisis than a day late where daily life, banks and markets are concerned. Some position in precious metals and personal readiness I believe is prudent and justified. I think life on the farm, and all that happens here, makes me lean this direction more than most folks.

    • Greg

      Jim,
      Life on the farm is the best and land is wealth!
      Greg

  19. RUSS SMITH

    Hi!, Patrons Of USA Watchdog.com Et Al:

    Anyone who enjoyed hearing what Mr. Brown said to Greg Hunter within their one on one conversation today may desire to also read future follow-up implications by both Mr. Brown and Mr. Peter Schiff from Euro Pacic, by daily reading the articles provided by Bob Morarity and staff @ 321gold.com. Mr. Brown and Mr. Schiff are occational posters at this site plus there are many other market observers offering additional insights from their various topic articles that can benefit those who are interested in becoming more informed regards the overall markets. Again we can thank Greg for inviting such dignataries as Mr. Brown, so we can become the beneficiaries of Greg’s continuing efforts to help OUR country recover from these harsh monetary/political times effecting all of US. Thanks once again Greg for all your thought provoking assistance. Let US each remember what Ludwig Von Mises tells US in his book, Human Action, that gold is money. Also the senior JP Morgan who decades ago before OUR Congess stated: “Gentlemen, only gold is money and all else is merely credit!” Two additional important men who can help US realize the truth about money; along with OUR Constitution which in Article 1; Section `10 tells us that we are only to have gold and silver coin as money; while we are today using everything but these precious metals. I hope and pray that my comments will be helpful in establishing OUR beach head for prosperity based upon eacy of OUR holdings of precious metals. We surely have a legitimate mandate originating out of OUR Constitution written so that we shall live OUR lives in LIBERTY and JUSTICE for all.

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

  20. george

    We need a Thatcher or Regan right now

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