Investors Heading for Slaughter One More Time-David Stockman

Stockman, David NEW (cr. Caryl Englander)By Greg Hunter’s USAWatchdog.com  (Early Sunday Release)

Former Reagan White House Budget Director David Stockman says retail investors are going to take, yet, another very big hit. Stockman explains, “The retail investor waded in again. The sheep lined up and, unfortunately, are heading for the slaughter one more time. I think it is very hard to see how this Baby Boom generation, with 10,000 of them retiring a day, can afford one more devastating crash in their stock holdings. That is, unfortunately, what we are heading for. That’s why I say it’s dangerous. When the bubble breaks, it will spill and flow throughout the Main Street economy.”

Stockman warns the next crash will be bigger than any other in history. Stockman, the best-selling author of “The Great Deformation,” says, “I think we have been building a bubble year by year since the early 1990’s. The earlier crashes that we are so familiar with, Dot Com and the Housing Crash, were only interim corrections that were not allowed to work their way clear. The rot was not effectively purged from the system because central banks jumped back in within months of the corrections and doubled down in terms of the stimulus and liquidity that they pumped into the market.”

Stockman contends that “you simply cannot fake your way in this market any longer.” Stockman explains, “I have pointed out that Wall Street continually tells you that the market is not that overvalued. . . . I have pointed out . . . actual earning are down 15%. The market is expensive, it is exceedingly expensive, and it’s really . . . 21 times earnings. Therefore, the whole bubble vision on valuations of the market is terribly misleading. Even the Wall Street version of earnings is going to be hard to maintain when the global recession sets in, and then investors are going to suddenly discover that the market is drastically overvalued. They are going to want to get out, and they are all going to want to get out all at the same time. That creates the kind of selling panics that can take the market down. We have kind of been in no man’s land for the last 700 days. The market is struggling to stay above 1870 on the S&P 500. It first crossed that level in late March 2014. It has had 35 efforts to rally and break to new highs. None of them have been sustained. My point about all that is that’s the way bull markets die.”

Stockman contends, “We are nearing the end. I think the world economy is plunging into an unprecedented deflation recession period of shrinkage that will bring down all the markets around the world that have been vastly overvalued as a result of this massive money printing and liquidity flow into Wall Street and other financial markets.”

On gold, Stockman says, “I think it’s more of an insurance policy and an option on the ultimate failure of today’s form of central banking. When, finally, the Keynesians, who are running all the central banks, when they are totally repudiated, I think gold will soar in value.”

Join Greg Hunter as he goes One-on-One with financial expert and best-selling author of “The Great Deformation,” David Stockman.

(There is much more in the video interview.)

After the Interview:

GreatDeformationNYTYou can follow David Stockman on his website DavidStockmansContraCorner.com. You can find his posts and other free information and analysis there. If you want an autographed copy of David Stockman’s book “The Great Deformation” click here.

 

Comments
  1. Mark

    Greg,

    I’m glad you started this discussion with the CNBC interview David was on recently. I saw it as well and also noticed how the panel turned away as he spoke of the truly depressing GAAP numbers for corporations, CB balance sheets, deflation, etc – bravo!

    IMHO he’s one of the best economists to learn from and always provided many details which lends much credence to his analysis. He’s a straight talker and his blogs are required reading! Here’s the CNBC interview you spoke of for others to enjoy. Great job Greg!

    http://www.cnbc.com/2016/01/22/markets-in-store-for-a-thundering-reset-former-official-says.html

    • Greg Hunter

      Mark,
      Thank you for posting the CNBC link!!
      Greg

      • Frank

        As a broker in Los Angeles for 34 years it is interesting to note that all major sources for our business are reporting a great shortage of houses for sale. Brokers cannot make a living here, because there
        is nothing left to sell. Everyone is buying. Every decent house in every decent neighborhood is being snapped up instantly. As the population expands there are more rich people and more poor people. The well
        off are buying the few remaining decent homes. (and renting them tho the people who bought silver ?)

        • Mohammad

          Once the Debt matches the GDP. then those house prices will tumble like a brick.
          Then you will have no worries about your job nor your colleages’, you will have plenty of those deserted houses to show off to those silver hoarding clients.

          Mohammad

          • Silence is Golden

            NEWSFLASH : Debt already exceeds GDP …..have you not received the latest memo ? Check your inbox….maybe in the Spam Folder.

            • Mohammad

              ?

              I said debt exceeds GDP, but when all the inflated money that pumped into the system, that makes the debt exceeds GDP, when it fails, then GDP will match DEBT.
              Then prices will reset to its natural values and house prices fall like brick.
              DID you read my post or you just jump on the reply button??????

              Mohammad

    • Sayonara

      WOW! Talking about a herd of deer with headlights in there eyes. David Stockman was the CNBC “party pooper” in this discussion.
      Mark you are so right in that David Stockman is one of the best economists to learn from.
      And thank you again Greg for having him on.

    • JC Davis

      Mark thank you for the link. It reminded me of the interview Greg did with Jim Williams before the 2008 bust.
      Thanks Greg for all of your work. Always interesting.

    • Sandra Rowland

      see Karen Hudes on Facebook or google her on the internet for more about the money market cabal.

      • Mohammad

        I wish Greg changes his mind and puts her up again.
        She knows what is going on and even if it sounds crazy, who can claim that what is going on now is sane?

        Mohammad

    • rwmctroholz

      @Mark

      Came to this message board to post the identical thing you just put on there. You beat me to it. I, too, saw how uncomfortable the rest of the panel was when I saw it last week; Awesome!!

      Glad Greg addressed this in the video. Appreciate you posting the link.

  2. David

    Hi Greg,

    Are not the bonds issued by a bankrupt government ( USA ) in essence worthless ? Why does he equate bonds to holding cash ? Federal reserve notes are pure fantasy, as well, are they not ? As you know there is no price discovery in ANY “markets” , just a bunch of rigged casinos.
    I am so sick of being lied to by the so called government I could puke. We are in deep trouble until these people are removed and locked up somewhere.

    • Diana Dee Jarvis

      Stockman said that if you can hold the bond to maturity you will probably get the money back. The people who will lose money are the ones trying to sell before maturity.

    • Occasnltrlvr

      I believe he did make reference to T-Bills as an effective equivalent to cash, not bonds.

      FRN’s, as with everything else in life, are worth exactly what someone else will trade for them.

  3. Mohammad

    Greg,

    Did i say it on your site before CASH IS KING?
    And laughed at?
    What do i know?

    Mohammad

    • Greg Hunter

      Mohammad,
      I sure wasn’t laughing at you. I think everyone should have cash outside the bank. Did you hear Mr. Stockman say gold would “soar”? I think you need a bit of everything physical.
      Greg

      • Steve

        I think it is prudent to hold some cash to cover living costs, make future investments etc but is it not possible for the powers that be to just devalue the currency overnight such as with the Chinese yuan?

      • Mohammad

        When gold soars it will be cheaper than a handful of dates.

        Mohammad

        • Galaxy 500

          I just bought some dates

          • red

            You know back in the day when I had hair and teeth and stuff i could get a date for nuthin’ now they don’t even look at me. That’s why I know tooth paste was invented in Arkansas because anywhere else it would have been called Teeth paste 🙂

      • Jerry

        I concur Greg. Here’s the latest velocity chart.
        https://research.stlouisfed.org/fred2/series/M2V

      • Jeff L

        Stockman is my favorite guy. Expressing everything in numbers plain and simple. Numbers don’t lie.
        Things are going to be so bad when gold rises. By then many things will be invaluable. I feel we’ve gotten a few months reprieve from God to prepare spiritually and physically.
        Everything has been stretched to it’s limits. Something is going to happen suddenly that will awaken us all.

      • Diana Dee Jarvis

        Greg, regarding holding cash outside the bank, I don’t think any of your guests have mentioned Bitcoin or other digital currencies not issued by governments. I’m curious why not.

      • Micky Lapua

        I have to question Mr. Stockmans’ judgment considering his gun bigot opinions.
        http://davidstockmanscontracorner.com/leviathan-gun-control-and-the-ironic-consequences-of-the-2nd-amendment/
        Of course, a convicted felon would be a prohibited person from owning guns. Mr. Hunter often decries that “no one went to jail” post 2007, and Mr. Stockman benefited from that trend. Perhaps the dropped charges were un-meritorious from the start?
        http://www.nytimes.com/2009/01/10/business/10stockman.html?_r=0
        American Gun Owners are why there is ANY freedom left in the entire world…
        Micky

        • Greg Hunter

          Micky,
          I agree with you on the 2nd Amendment. Thank you. Can you imagin what the bankers would be doing if we didn’t have it. Oh yeah let’s look a Europe and the “refuges.”
          Greg

    • jim c.

      Mohammad, You go ahead and hoard all the cash you choose, we will see later this what you can buy with it. My copy paper will have the same purchasing power as your federal reserve notes (none) . Gold and silver is the only store of wealth that CAN NOT be manipulated forever.

      • Mohammad

        Jim,

        Again i ask my self the question, what do i know….LOL

        Sir,

        I say cash is king because of one important function cash serves, and that is it is the only Obstacle left in front of the central banks that prevents them from dipping way down on NEGATIVE INTEREST RATE, that is why they are burning it as we speak.

        That negative interest rate that is in the cards for central bank here, that has been implicated already in EU and that recently Japan caved in under the tremendous pressure of fellow central banks after Davos. That negative interest rate will dramatically change the way we know banking, transactions.
        It will pave the way to the digital money.
        Every thing you see around you now is to destroy that only obstacle ….CASH.

        the more we hang on to it and not give it away for Gold / Silver. the more we delay this disaster.

        I can elaborate more at will if you wish to know more.

        Mohammad

        • Mohammad

          Here is something to chew on:

          http://www.debtcrash.report/all-posts-list/all-post-list/entry/e-dollar-update-2

          Mohammad

          • C romana

            Mohammad, I think you are right about the push for digital currency. We are being trained now. When I shop, no one is using cash. Once they outlaw it, we are complete slaves.

          • C romana

            And the way they are paving the road is by offering all the points cards. People think that it is great earning points all the while, they are lambs for the slaughter. Sadly, we’ll be completely controlled. Thank you Mohammad for the insight.

      • Galaxy 500

        Nor can gold or silver be increased by electronic means

      • BetterChetter

        JimC – but it is manipulated now and has been for some time … Mannarino was shocked in ’12, when someone suggested silver could drop to $15/oz, from $25-30 (and it may be heading lower to near $10) – – – metal-heads so favor it, that in their defense of their positions in it, they can lead novice investors astray. All savvy economists favor positions in golf/silver, but all generate income from other investments besides PMs. And all shift strategies, depending on mkt. knowledge, over time.

      • Tin foil hat

        Jim c.
        You should have a little bit of cash to get thru the initial stage of collapse. The last thing you want is spending your PMs before things settle down.
        I have 6 months supply of emergency food which is good for calories, SPAM is a cheap source of protein and a small garden in the back for vegetable.
        Cash is king probably for the first month or two. When the masses realize what is happening, you will need items for barter. I stash away whisky, vodka, ammo and cigarette lighters for bartering. This is the worse case scenario which I think is highly unlikely.
        Anyway, I don’t think the dollar will become toilet paper like the Weimar Republic. It would probably lose 30 to 50% over the course of a few months – I hope!

        • jim c.

          Tin foil hat, Yes that is exactly how I have been preparing , cash will be used for the first weeks of this terrible time we have coming.

      • lastmanstanding

        Cash is for a time period when electronic transactions will seize up. No one really knows how long the cash window will be open. I believe it will depend on where you live and what you are wanting to buy.

        Stockman is saying that by holding cash in your possession, not using it to buy stocks, bonds, pm’s right now, that you are going to retain the value of your dollars. If you have a $1 that it will remain a $1.

        Anything else right now is a gamble, more likely to the down side with the current market trend. Sounds to me like you should be long…very, very, very long (stock, bonds, pm) as in years down the road. Even that is a gamble with the forces of evil so hard at work to paint a rosy picture.

        The question everyone should be asking themselves is, “am I setting myself up to be in a good place both near and far into the future.”

        Living one day at a time should be good enough…but not to plan long term is dangerous. Long term plans will always benefit someone close to you down the road. Consideration for other humans is one of the things that our society has long forgotten.

        • Mohammad

          LMS

          Electronic transaction will NEVER stop, it will flourish.
          It will be Satellite web, literally the “cloud” every thing.
          There will be the FEDCOINS….after they made the Bitcoin commodity officially. I have a link to that in a post down this page.
          Cash is the only obstacle, the more we insist on using it the more we delay their wicked game, the more we trash it the faster we are to the shackles of digital slavery.

          Gold/silver is hoarded by the Powers who are pushing the digital currency so even if you have some gold/silver you will not be able to do much with it. the world will be cheering the digital, and soon you will see the digital gold accepted by commodity trade committee.

          Mohammad

          • FC

            Mohammad, when the digital currency flourishes, gold and silver will be the new cash.

            http://demonocracy.info/infographics/world/gold/gold.html

            • Mohammad

              it is hoarded already by central banks, can’t you see the game yet?

              Mohammad

              • FC

                Mohammad, I’m well aware of the game. One of the many reasons why Central Banks are hoarding Gold, is the very fact it will be the new cash in a digital world, as it will be the only thing that I and many others would accept in exchange for our services, outside the system.
                Precious Metals in the future will have the same benefits as cash has given us in the past and present…………Freedom and Privacy.

                • Mohammad

                  Nope,

                  it will be outlawed for whoever kept some of it, and it is already hoarded by central banks at a fire sale price.
                  It will never be cash again.
                  Either you are dreaming or really you did not get the grasp of the game yet or both.

                  Digital currency is the NEW CASH. by holding the old cash and demanding it we are delaying the plan, the faster we trash cash the faster the digital currency is in.

                  Gold / Silver is in the VAULTS OF BIG BABYLONIANS .

                  Mohammad

                  • FC

                    Mohammad, digital currency is purely done electronically, therefore it can not be defined as cash, as it’s either a coin or bank note.

                    When one wants to avoid the IRS, one would work using coins and bank notes for payment, more commonly known as cash to avoid detection.

                    When a digital currency is introduced, avoidance is impossible as everything is traceable and controllable…….this is where people holding precious metal will have the advantage of trading without detection……….as I mentioned before, precious metal will be the new cash.

                    Precious metal will never be outlawed, it will no doubt be heavily taxed once presented into the digital system, but never outlawed.

                  • Mohammad

                    Will see.
                    TIME WILL TELL.

                    Mohammad

      • Bob Lamb

        My food storage will be worth more than a lot of gold IMO.

        • Daniel Reich

          After the crash, there will not be a system.

    • Jim

      Figures they will be paid even if they must print the money. May be devalued but the gov won’ t default on them.

    • Silence is Golden

      The phrase Cash is King usually refers to the ability to switch from being fully invested to having cash…in order to take advantage of the inevitable correction of the fullness of pricing (investment perspective). It also has application for business…..where survival is dependant on cash reserves = profitability.

      I consider the true meaning of the phrase to be as follows …….
      To paraphrase….Debt is King (cash being a debt instrument) …..He who controls the Debt..Controls Everything!! (not unlike a King/Queen)
      Who has the greatest leverage in the world….those to whom the DEBTS are owed.

    • rwmctroholz

      Cash will do well in the short run while people still believe that is has worth when the crash comes. Not because it has value, but because it will be easily recognizable as a medium of exchange.

    • randalm2014

      Short term treasuries in an environment of equities correction, the bond bubble bursting(long term multi year notes at low interest rates), and incoming bank bail-ins is like holding cash (especially if one is locked into a 401k and wishes to protect principle) …rolling over short term 1-3month treasuries will protect from bank bail-ins, equities correction, and a frozen secondary bond market that has no bids. There is a war on physical cash so that is not a very viable option, as you will be treated as criminal if you have any quantity. The attempts being made by the powers that be, is controlled demolition. (wealth transefer, while propping up the system) It is up to the astute to avoid being sucked into the whirlpool.

      • xyz

        Thank you for the comment. Your comment here really has some insight.

        • Randal

          Wish I could claim devising the strategy. ..

          Listen to andrew gause, oneradionetwork.com….

  4. Andrew Buchanan

    Sell treasuries / government bonds and keep ‘cash’ on hand to buy back the market when everything is much cheaper? Not sure if David Stockman was referring to keeping cash in the bank or under the mattress – surely ‘when’ bonds eventually collapse under the weight of unsupportable debts will also be the ‘when’ that bank bail-ins are instigated.

    Personally, I believe the up-coming and ‘planned’ stock market collapse is designed to fleece the Joe Public of his / her invested wealth with the double-whammy that anyone wise enough to sell up and have the proceeds of sale sitting in their bank will get fleeced during bank bail-ins!

    Most people do not realise that the ‘insurance’ which covers loss through bail-ins is only enabled if and when your bank goes bust. If it remains solvent thanks to bailing-in its depositors’ funds then the guarantees do not apply!

    • JMiller

      Andrew,

      When Stockman refers to cash he is talking about something like 90 day Treasury bills.

      And the bail-ins that have already happened and current bail-in laws do not include insured deposits. And bail-ins in the U.S. do not apply to all banks just the systemically important banks also known as the Too-Big-To-Fail banks. Uninsured deposits are at risk of being part of a bail-in in those banks but then again uninsured deposits have always been at risk when a bank fails. Also when a bank fails the vast majority of the time the failed bank is acquired by another bank. Very few are liquidated.

      You state that if a bank remains solvent thanks to bailing-in its depositors’ funds then the FDIC guarantees do not apply. First, bail-ins are done when a bank becomes insolvent. It is not done for solvent banks. So a bank has to become insolvent first before a bail-in can happen. A bank failure occurs because it has become insolvent or too illiquid to meet its liabilities. FDIC insurance still applies. I am not worried about my insured deposits being part of any bail-in for a number of good reasons.

      • Greg Hunter

        JMiller,
        Can you imaging how many businesses have cash far exceeding the FDIC limits to make payroll? What a mess this will be when we get our banking “holiday.” I think you are right about the 90 day Treasury notes.
        Greg

        • JMiller

          Greg,

          It certainly would be devastating for those businesses to lose that much money. And more than half of the deposits with the TBTF banks are uninsured. Some of the uninsured deposit are foreign deposits which are not covered by FDIC insurance.

          As far as a banking “holiday”, Bill Holter says that he believes that we could have a derivatives bubble burst say on a Friday and come Monday the banks will not open and ATMs will not work. And that banks could be closed for weeks or months. I have a problem with that scenario. From what I have read there are temporary stay of termination rights which prevents most derivatives counter-parties from terminating the contract and collecting any collateral until 5:00 p.m. the next business day after the FDIC is appointed receiver of the failed bank. Since the FDIC is ordinarily appointed receiver on a Friday, the earliest that a derivative counter-party could terminate a contract is after 5:00 p.m. the following Monday. So why would all the banks need be closed the first thing on Monday? In fact, why close all 5,381 banks just because a handful of banks, as large as they are, have a serious problem? I believe that the FDIC can create a bridge bank so that if a TBTF bank becomes insolent it would allow the bank to function without inhibiting the day-to-day operations. And there is no way all the banks can be closed for weeks or months especially with an economy the size of the U.S. It would mean instant depression. And there should be no need for it to be that long to get things straighten out enough. The FDIC is an efficient organization. Sure I could see the banks that are in trouble may be being closed for a couple of days in the beginning so the FDIC can do thorough assessment of the bank’s condition and to look at their options but they would try to open those banks to some degree as soon as possible. This is just my opinion of course.

          However I think if we have bail-ins or if they let a failed major bank go through the bankruptcy process in which some or all of uninsured depositor’s money is taken, I believe that there is a good chance of bank runs happening which may get that bad that a nationwide bank holiday with capital controls limiting the amount people can take out of ATMs will be needed. Also if there is a collapse in the dollar that there could be a bank “holiday” as people would try to get their money out to buy things that are maintaining their value.

      • Mohammad

        Or if they turn your account into DIGITAL fed coins…..!
        That way they will phase out paper dollar for every digital dollar going in.

        Welcome to the digital shackles ….welcome to digital money.

        Mohammad

    • gregd

      Andrew,
      I’m not sure if it’s true but my bank manager told me that the FDIC has 99 years to pay back your deposits. Just telling what I heard with my own ears.

    • xyz

      Thank you for the comment, good insight, too.

      • gregd

        JMiller,
        Thanks for the info. When I was taking my cash out of the bank because I feared I wouldn’t be able to at a later time he just mentioned that. No sales pitch at all. But as I see it now they don’t have enough money to cover possible losses. Thanks again.

  5. Sayonara

    Greg:
    Thanks for having the brilliant David Stockman on. This guy know what he is talking about. He was brilliant in the Reagan administration as Budget Director. It was unfortunate that the establishment politicians did not take him seriously back in the day. Or even currently. I thank my lucky stars that I understand economics and listen to your guests and position myself accordingly.

    Here is an item of note regarding gold and currency:
    10 year gold high in USD was $1,869
    Current USD gold price is $1,116 which represents a 40.3% decline

    10 year gold high in CAD dollars was $1,816
    Current CAD gold price is $1,559 which represents a 14.2% decline.

    What has happened to most currencies around the world? They have gone down dramatically as case in point with the Canadian Loonie. Which means the price of gold around most the world is going up dramatically.

    This means that gold is on super sale in US dollars and anyone who excess investable funds would be wise to invest in physical gold right now.

  6. Jerry

    Greg,
    I’m going to keep beating my China drum (or carnival barking like others say) until everyone hears the message. China and 125 countries that comprise the BRIC Alliance are preparing to breakaway from the dollar and the corrupt IMF system.
    https://www.rt.com/business/329208-china-aiib-development-bank/

    The ongoing Yuan devaluations have nothing to do with the economic turmoil in China as some economic pundits would have you believe. It has more to do with currency restructuring in preparation for pegging the Yuan to Gold with the Gold Benchmark in April. That’s it pure and simple. They have even given directives to the Central Banks to go along with the move, or be pushed out of their new economic system……period.

    Am I saying there going to be an economic collapse in April? I DON’T KNOW. But when you have a paradigm shift of this magnitude, the economic pressure that is released has to go somewhere. As I’ve said before, the BRICS haven’t been buying massive amounts of Gold because the have a love affair with Gold.

    Like any pyramid scheme, our current Fed controlled debt based fiat system has winners at the top who live off of the injected cash flow from victims at the bottom.
    But what happens if the victims at the bottom get together and leave the scheme?
    I suppose the Fed could continue to print money with QE, and have the ESF buy it back like they have the past seven years. But what good is money that no one else wants to use for trade? Its kind of hard to run a scheme when no one else wants to participate in it.

    • lastmanstanding

      Jerry, if you don’t mind me asking, have you purchased any yuan?

      • Jerry

        Lastmanstanding
        Only food, bullets, and silver in that order. I am converting dollars into silver. I believe Jim Willie was correct. We will have two currencies before this is over.

        • Mohammad

          One Jerry, only one currency.
          DIGITAL.
          All currencies are burnt out or on the way to.
          Digital shackles are in the cards for all humanity and they will adopt it cheerfully with their iPhones.

          Mohammad

          • lastmanstanding

            Doc. The cloud bs is only temporary. Tech is already beyond sustainability.

            The earth and truth will repel it.

            • Mohammad

              LMS

              The cloud is real with your and my medical records at least.

              Mohammad

          • Jerry

            Mohammad.
            You might want to let the Chinese and the BRIC nations know. Right now they’re on a Gold buying spree for a reason.

            • Mohammad

              Jerry,

              Rothschild is deep to their bones.

              Mohammad

          • Snow White and the Seven Dwarfs

            Mohammad is right. And it will eventually move from phones to bodies.
            Revelation 13:15- “And it was allowed to give breath to the image of the beast, so that the image of the beast might even speak and might cause those who would not worship the image of the beast to be slain. Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of his name.” The beast is given power and authority by Satan earlier in the chapter.

          • gregd

            Mohammad,
            I respectfully disagree. First I want to say that all currencies are not burnt but simply abused. And abused by massive printing. And if you have digital money backed by nothing it will again be abused. Why would anyone work? You can just have the government take care of you. At that point the whole world can digitally take care of the poor and lazy in first class fashion. And what about hackers? And what say you about a government who erases you’re digits because you are from a different voting party, and please don’t say it won’t happen because we know what the IRS did to the opposition. And do you thing the AG will do anything?
            But if you say the digital money is backed by gold and silver then I would have to say that gold and silver is the real money just like the dollar was before Nixon in 1971.

            • Mohammad

              THEY WILL HAVE TO BOOST CONFIDENCE IN DIGITAL MONEY.
              Confidence is every thing.
              Hackers will be hanged by the post by the gov. they may get suicided by 11 nails in the back of their neck if they ever try to compromise a legit FEDCOINS the same way they may get it if they counterfeit a dollar bill, every agency will be on their tails.
              The boost of the confidence is obvious, GOLD/SILVER PM.
              But not the way you think.
              They will have gold and silver valuation at a much higher level:

              DO YOU KNOW THAT THE CURRENT FED VALUATION OF GOLD IS STILL 42$ a troy ounce………!!!!!!!?

              DID YOU, GREG and EVERY ONE KNOW THIS FACT?

              https://www.fiscal.treasury.gov/fsreports/rpt/goldRpt/current_report.htm

              Quote:
              “Book Value: The Department of the Treasury records U.S. Government owned gold reserve at the values stated in 31 USC § 5116-5117 (statutory rate) which is $42.2222 per Fine Troy Ounce of gold. The market value of the gold reserves based on the London Gold Fixing as of September 30, 2015 was $291.3 billion.”

              So to boost confidence there a valuation to 2000/3000/8000….

              Gosh look what they did and how much they created out of thin air with 42/troy ounce, imagine the leverage they will get when it goes up to 8000….!!!!! and they will.

              But not what you think or wish. it will be pure digital after the SDR after they settle SYRIA.

              Mohammad

              • gregd

                Mohammad,
                You still didn’t address a couple issues. What about the government itself hacking your account and the Attorney General not doing anything about it? The media won’t cover it, as you know and why. And what if foreign government does the hacking? A war? No way, they already counterfeit, they just want to cause havoc inside the U.S.
                YES, gold and silver will go up. We agree. Because its real money not representing it.
                Besides you’ll need PM to allow you to print more.
                What may go away is the Fed. Other Countries will then respect us again.

                • Mohammad

                  Sir,

                  There will be no foreign government hacking domestic government. THERE WILL BE ONE GOV.

                  And the first question is obvious, digital currency is more control. I never said it was to please you or me, it is to put you and me in the shackles. and we are doing it at will, with our credit cards, i phones , internet. We are doing here at will on Greg’s website since we use THEIR internet that not coincidentally called THE WEB, did you here of any good came out of some one caught in a WEB?

                  Mohammad

                  • Silence is Golden

                    “THERE WILL BE ONE GOV”….what do you mean WILL BE…?
                    They already exist.

        • jim c.

          Jerry, You and I are like two pea`s in a pod with that statement .

        • lastmanstanding

          Thanks Jerry. Your answer was just as I expected. One will always be able yuan with silver if that is the path it takes. I won’t be buying any.

          I live in a small environment. I don’t travel far from home…less than 50 miles. I despise globalism. Frankly, I ignore it and don’t support those who do.

          That is my plan and I will stick to it.

    • Mike R

      Jerry and others. China and the US are doing a complicated dance, which will no doubt be volatile, as China attempts to have the RMB be a greater part of world trade.
      I seriously doubt the US dollar will ‘collapse’, and also doubt the US stock markets will collapse. Rather, its far more likely we will see a gradual depreciation of the US dollar, and the US markets to remain flat to slightly higher over the next 4 years.
      Very few people are able to grasp how currencies work. I’ve been studying them for the past 15 years. This article here would be a suggested good primer for anyone interested, in how all of this will play out. http://philosophyofmetrics.com/how-china-is-deleveraging-from-the-usd-freepom/ I realize this is far more boring, and less alarming than the prognosticators like Stockman, Celente, Kirby, Mannarino, Williams, Holter, Roberts, Pento, and at least a dozen other alarmists have forecasted in the past 12 months. Ive said this here before, and I will say it again – there is not going to be a market crash in 2016. Probably not one either in 2017,2018, 2019, or 2020. Crashes are extraordinarily rare. We’ve witnessed 2 since 2000, and that’s even rarer still. Global markets are constantly squeezing and wringing out efficiencies here in the 21st century, via the most prolific explosion of technology advancement the world has ever seen. The internet is still quite young, and connected technology barely getting started. The oil crash is more or less a phenomenon of advanced technology getting so much better, that the old way of doing business for shallow wells, is going by the wayside. Commodities are re-setting in price, due to the on-slaught of new technology, using less and less of everything – less materials, less energy, less labor to do more and produce more than ever before. Thanks to the internet, I’m running two businesses, and also hold a corporate job. Do I need to in order to have that much more income ? No. Its because I simply want to, and know that my time can be spent so much more efficiently, thanks in large part to the internet, and other technology. Humans can and are adapting, but sometimes it takes awhile for people to learn how to adapt and maximize an opportunity as great as we have before us. We’ve been so entrenched in a non internet world for so many decades, that to suddenly in the past 2, be exposed to something that is still so young and in its infancy, can be earth shattering, and mind boggling to grasp. If you have all of this fear about collapse, and end of world type stuff, thats actually normal. But may I suggest to use your fight or flight anxiety to spend more time on what businesses, and opportunities you can embark on, rather than determining which bunker you want to be buried in, with your gold, ammo, guns, and rations. We are in the first 20 years of a golden age of technology. Golden ages happen once or twice every thousand years. They are filled with much turmoil, but they are rare opportunities that need to be embraced, rather than feared. Rather than view the markets as being in bubbles, consider the possibility that the markets are actually forecasting the explosion of even more technology, and societal advancement, unlike we’ve ever witnessed in all of history.

      • Occasnltrlvr

        Good luck – I’ve tried.

        Reality, for some, is like water off a duck’s back.

        (Love POM.)

        • Jerry

          occasnltrlvr
          What do you know about reality? How many businesses do you own? How many employee’s do you have? Do you write a quarterly check to the IRS? Do you have an attorney and tax accountant on retainer to handle your business dealings? Do you have multistate investments? Please I’d really like to know your credentials since you’re so inclined to hand out your advice all the time. FYI I can answer yes to all of them. Can you?

          • Occasnltrlvr

            You could ask my Chinese friends, but they’re too busy helping me try to find my derriere.

            See you in May.

      • Jerry

        Mike.
        Like Mike Tyson said “everybody has a plan until they get punched in the face”. For the record, I sincerely hope that you are correct. I worry about the future of my children and grandchildren everyday. Having been raised by grandparents who lived through the depression though, I do not have much faith in a system that is run by bankers. In my opinion, the only thing you can really count on are, things you can control yourself, and the good lord above.

        In my real estate business, all of the deals I do are done without bankers money. In my private business, I own everything I have.
        In my opinion, if you can’t lay your hands on something without having a bankers hand up your puppet shoot, you don’t really own it.

        But in the casino of life, you get to place your own bets and spin the wheel. You have a 50/50 chance of being right, or being wrong. In my world, I like to win either way by being prepared for both outcomes. Today I will do another real estate deal, while tonight I’ll buy another bag of wheat and so it goes.

      • Shadow of Doubt

        Mike,
        Untrue-any “Monetary Historian” worth his or her salt can tell you bank-runs, crashes and economic resets are fairly common events within the human experience and no time period has been without them.

    • JC Davis

      Jerry- Its kind of hard to run a scheme when no one else wants to participate in it.
      The world wanted a reserve currency. They got enslavement. The only way the worlds economy can grow is outside the dollar. I personally think gold will be used as only one part of a multiple tangible trade function. Either way the world is changing without the dollar over this change. How will it affect the USA..? Who knows. We do have a lot of war production powers. Always enjoy your point of view, and links. JC Davis.

    • Gary Canuck

      Jerry, the US will bankrupt third world countries, since their debt is denominated in Dollars, “thanks to the IMF” along with Canada, Australia.

      US Dollar will be king for several years, all other currencies will collapse against it, “It is the least ugly horse in the glue factory”
      Try using a Canadian Dollar in Costa Rica, “aint going to happen”
      unless you want to wipe your ass with it, along with the basket of BRIC
      currencies, “sure I agree with you” but the reality is that people who actually believe this stuff have been sent into the poorhouse as they have been on the wrong side of the currency trade which A LOT OF GUESTS ON THIS SITE HAVE COMPLETELY IGNORED as they talk and advise from a American perspective.

      While the vast majority of readers on this site are American, the rest of us peeps have to look at it in terms of currency, “ask Colin The Farmer”
      For those of you who look at currencies check out Jack Crooks, and Martin Armstrong,I just came back from the Outlook Conference in Vancouver, where Martin put up a freebie “Socrates forecast on the Canadian Dollar”
      which I subscribe to, check it out on his free blog, if your Canadian you will poop your pants, and never go to Vegas again,

      US Dollar going up BIG TIME, after all other central banks are broke, then and only then will the US devalue, about two years out IMO when SHTF.

      Out of ALL the guys in the business Crooks, Armstrong, got it right, and I am talking about currencies, I subscribe to both of them.

      Eventually the US will devalue, overnight by 20% thats my story, my forecast and Im sticking to it, also I have put over 500k into the Forex market
      so I am not blowing theory, use options, not futures, etc.

      Unfortuantley all these BRIC countries are broke however I am getting 9%
      interest on my US Dollars in a Costa Rica Bank Account which allows me to import my booze, smokes from Panama for free.

      You guys in the USA take a 20-30% hit on your currency and it will be TOTAL ANARCHY, MAD MAX, but the Dow will go up.

      PS Good luck to Trump & Sanders, the only guys Goldman have not bought off yet.

      Greg, get Jack Crooks on for a currency perspective, there is to many negative opinions on this site about the US Dollar, which have been dead wrong for the last two years.

      • Greg Hunter

        Gary,
        I know this line was not supposed to be funny because it is true but I laughed at this when you wrote, “PS Good luck to Trump & Sanders, the only guys Goldman have not bought off yet.” Thank you.
        Greg

        • Mohammad

          Really?
          They are not bought off?

          LMAO

          Mohammad

        • lastmanstanding

          “Lady” Rothschild was on fox biz this morn with foot licker cavuto.

          Why? Stumping/ raising funds for their friends…Bill, Hillery and Chelsea. lmao!

          Hope your right with your stance brother, I’m with you but it don’t look good.

          • Greg Hunter

            Poof Last man Poof-be-gone (PBG) with Hill.
            Greg

            • Mohammad

              Greg,
              Do not underestimate the (out)house of Clintons.

              Mohammad

      • frederick

        9 percent on a usd account im only getting 2 percent in Turkish banks

    • Tin foil hat

      Jerry,
      I don’t think the ESF was utilized until the last year or two. China needed time to make preparation to break away from the Ponzi and gave us four years of continuous support to prepare in 2010.
      We broke our promise April 2014 pushing back the date for another year. This idiotic delay likely caused mistrust toward the SDR and the Chinese would rather peg the yuan to gold than being jerk around by the round eyes in the IMF.
      However, if Putin lose power before the end of this year, the dollar Ponzi may go on a little or much longer.

      • Jerry

        Tin foil hat.
        I agree. Many Americans in their self righteous hubris conveniently forgot we borrowed almost 3 Trillion dollars from the Chinese in 2008. How do you think it would be if the roles were reversed? China is getting ready to break off the golden bow hawk in our rear end. I wasn’t sure until I saw a Chinese destroyer (loaded with cruise missiles) sail unimpeded into Florida harbor in October. To me that was like giving the U.S. the middle finger .The Chinese know the U.S. is a dead man walking. To me that was proof enough.

        • Deanna Johnston Clark

          I just returned from my little credit union and I didn’t see a single self righteous American full of hubris.
          Perhaps you geniuses with all the answers here could address a different community of discourse once in a while.

    • Jerry

      Greg,
      I’ve read the comments. Many here are still thinking this scheme is going to continue to go on even though China is going to seize control of the Gold market in April and reset the prices. If that is true, please explain this move?
      http://www.wsj.com/articles/currency-war-u-s-hedge-funds-mount-new-attacks-on-chinas-yuan-1454236202
      It sure looks like an act of desperation to me. If the birth of a new exchange system is meaningless, then why are the Central Banks so concerned? Come on people, open your eyes.

      • Jerry

        Addendum to my last post about the Hedge Fund bets.
        Well, well, well…..it looks the Central Banks picked the wrong horse again.
        http://www.wsj.com/articles/pboc-injected-520-9-billion-yuan-via-standing-lending-facility-in-january-1454325560
        What a bunch of sorry ass losers. And these guys are supposed to rule the world?

        • WD

          Jerry,

          I could not read the article what did you mean “it looks the Central Banks picked the wrong horse again.”

          I find this angle very intriguing.

          Thanks

          • Jerry

            WD
            George Soros and the Central Banks are betting on the collapse of the Chinese economy using Hedge Funds. That’s what I was referring to. But it may be a case of osmosis instead.

    • Jerry

      With this move, you can kiss the European Union goodbye, and along with it the ECB.
      Everyone knows that Germany is the central hub of the BRIC alliance in Europe behind closed doors. Does anyone want to guess what currency they will be using for trade?
      http://www.scmp.com/news/china/policies-politics/article/1908004/germany-tipped-top-spot-china-led-asian-infrastructure

    • WD

      Jerry,

      Stephen Leeb, Eric Sprott and Bill Holter state taht China is not as bad off as we all think and that they are prepared internally as well as externally. But then I hear the other side that says that they are not prepared and that they are in deep trouble.

      Which one do I believe?

      Thanks

      • Jerry

        WD.
        All of my relatives that lived through the depression purchased silver for a reason. Over half of the silver coins I have came from their estates. Short Answer. The Chinese have cornered the Gold market, while we have printed money. They will not play pin the tail on the Federal Reserve much longer.

        • WD

          Thanks Jerry,

          That is what I was leaning toward.

  7. michael

    A bit of everything is smart. gold/silver/platinum, bitcoin, U.S Dollars (cash), income producing property, and short term bonds. Stocks are out until we see a 50% drop then it will be time to buy.

    • dbcooper

      M, you forgot Lead !! hand cast and paper patched !! DB.

    • Galaxy 500

      If the government turns off the net, how are you going to spend your bitcoins? I think bitcoins are vaporware.

      • frederick

        I agree it seems to me that tptb don’t like competition and could crush bitcoin in a minute if they wanted to

      • lastmanstanding

        Now 500, the gub can’t do that, they would only harm those who depend on them for shelter, food, gas vouchers, phone, web, healthcare…not to mention that that would be…well…just plain mean!…but they will.

        They are just using these idiots, always have been…their loyalty means absolutely nothing…or even less than that. You and I both know it.

        To all here, I am going to begin asking everyone I come in contact with if they have even heard of bitcoin. Individuals and business alike. We all know those who own businesses and run businesses, ask them if they are hearing anything about it from further up the chain of command.

        We all live in different types/sizes of communities, and could share our info…we are all here to help each other.

  8. Beano McReano

    The elite still trying to drive the stocks down so they can buy real cheap. Guess they lost out on the bull market and are as MAD as HELL!!!

    • Greg Hunter

      Mohammad,
      This mosque reportedly has ties to thje Muslim Brotherhood.
      Greg

      • dbcooper

        Greg, Great interview and I think I would have to listen a few times to scratch the surface … That said until Mohammad comes to terms with the disgusting conduct of his fellow Muslims then he (IMO) is irrelevant .
        Yours in Faith and (I want my )Liberty, FN, DB.

      • diane s.

        A lot of people think Obama has ties to Muslim Brotherhood. Ties to ISIS aa well.

      • Tin foil hat

        Grey,
        My physical therapist is a Muslim from Egypt who supports the Muslim Brotherhood. He once told me a representative of the Muslim Brotherhood spoke at his mosque but he didn’t like him because he was too radical.
        Muslim brotherhood is here in our neighborhood and the White House already. They think they have nothing to hide because the brotherhood is fully supported and embraced by this administration.
        It’s almost as bizarre as the Newsweek magazine cover of “We are all Socialists now” or any presidential candidate accepting the endorsement from KKK.

    • Galaxy 500

      Going to be with his terrorist moslem brothers

      • WD

        TFH,

        As far as what Newsweek has to say….no one is reading it anyway, it is on life support!

    • Occasnltrlvr

      Rallying the troops, is he?

  9. Colin - 'the farmer from NZ'

    Greg
    Great interview with DS!
    This link highlights the monumentally obscene scale of the buyout of the Clintons by the Wall Street banksters:
    http://wallstreetonparade.com/2016/01/the-times-endorses-hillary-clinton-with-a-banner-ad-from-citigroup/
    Cheers
    Col

    • Constance

      COLIN – ‘THE FARMER FROM NZ’, maybe, we should send Bernie down their to kick the butt [bum] of your PM, who happens to be a former Wall street big Whig and Federal reserve member! What say u?

      Key Segments of Bernie Sanders’ Speech on Wall Street Reform Disappear; By Pam Martens and Russ Martens: January 6, 2016

      http://wallstreetonparade.com/2016/01/key-segments-of-bernie-sanders-speech-on-wall-street-reform-disappear/

      Caught this checking out your great link link.

      • Colin - 'the farmer from NZ'

        Yeah maybe Constance
        …… but maybe you need someone up there with his clarity of thought and courage even more than we do.

        History tells me that if a running ticket for POTUS is too openly anti-establishment then at some stage of the race the candidate will be hobbled. If by some miracle they ever did manage to get a leg in the door of the big old house, the challenges will only just be starting. If a “Bernie” does get there and survives long enough to begin the task of unravelling the FED, Bankism, the monumental corporate treason and a ‘bought and paid for’ system of Govt, then it will be a truly historical event. It could change the world, not just the US.

        The 2016 race is truly fascinating to many here in NZ and attracting far more attention than I can ever recall. The consensus of NZer’s that I know of are absolutely gobsmacked that Hitlery and Trumpet are even in the race, let alone the main contenders. They are genuinely fearful and don’t want to even contemplate where the world is headed with either of these people in office.
        Quite frankly, so am I.

        Cheers and best wishes from Aotearoa.
        Col
        PS…. Of course the Clintons are not really bought…they just get paid astronomical ‘speaking fees’…..especially by GS and Citigroup!
        LOL

  10. James Hastings

    Good interview. Wonderful quest. Ever wonder where we, as a country are headed.

    “The fierce anger of the Lord will not turn back until he has executed and accomplished the intents of his mind. IN THE LATTER DAYS…you will understand this”…Jer 30

    “Come out of her, my people, lest you take part in her sins, lest you share in her plagues…so shall her plagues come in a single day…and she shall be burned with fire…Alas, alas! thou great city, thou mighty city, Babylon! In one hour has thy judgement come.” Rev 18

    “and I will shake all nations, so that the treasures of all nations shall come in…The silver is mine and the gold is mine, says the Lord of hosts…Haggai

    The reset….

    “IN THAT DAY, ……every one of you will invite his neighbor under his vine and under his fig tree” ….Zechariah

    “they shall build houses and inhabit them, they shall plant vineyards and eat their fruit… they shall not labor in vain, or bear children for calamity…Isiah 65

    A massive reset is drawing closer. Most everyone will be shocked, unfortunately, fewer, will see it completed. But the world doesn’t end, it just gets much simpler.

    That’s this weekends Biblical perspective…..I didn’t see stocks or bonds mentioned once. 🙂

    • Constance

      James Hastings; I didn’t see stocks or bonds mentioned once. . . .
      The only stocks and bonds you’ll see then will no doubt be holding wrongdoer’s, teaching them a lesson in humility!

  11. red

    Well David is correct in what he says’,where I take exception with people like David is the complexity in the financial language, I think the most important thing ordinary people need to understand is that as 99% of all debt is payed back in .gov issued currency by default they have a Monopoly on Credit as they artificially control scarcity and liquidity(interest rates &QE etc) The first borrowers (.Gov&corporations) always benefit the most. This is why Milton Freidman called inflation a tax, now they are having the audacity to pay themselves for borrowing (neg interest rates) Joe Schmo will not have access to this absolute theft..not only that but they borrow money to steal through artificially controling commodity prices. Seriously these people really are just straight out con men,thieves and criminals.

    • dbcooper

      Red, whew … that was cool … I have maintained for a long time that if you are listening to an expert (read that economist) and they are not articulating in a way that we (the little people!! eaters and breeders!!) can easily understand, then they are either blowing smoke or do not know what they are talking about … Thanks, DB.

    • Lance Elliott

      “The silver is mine and the gold is mine, says the Lord of hosts…Haggai”

      Since I am also His, I will prefer to exercise stewardship of those, rather than with the empty promise of the mark of the slimebag thief.

    • frederick

      red you forgot grifters and parasites lol

      • red

        it just slipped my mind 🙂

  12. Snorky

    Thnx for this interview. I bought Stockman’s book (and read it) when it was first released. I especially liked the chapter on the London Gold Pool. Most people today no very little about that scam (which was blatant manipulation). I tell those who will listen to have some physical gold and silver but not to use their ‘lunch money’ or their kid’s ‘college money’. Between Armstrong, Dent, Stockman, Kirby, etc., I think nobody knows how this is going to unravel for sure. But I have to admit that it angers me that the policy of global governments/bankers punishes savers and rewards the prodigal son and, in the process, undermines the morals of the entire society until the entire thing just implodes.

    • Silence is Golden

      Yes indeed it ruins everything we have known and trusted…..a stab to the heart when an ex President states the following….
      “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world — no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”
      – President Woodrow Wilson……on his decision to sign the Federal Reserve Act into law.

    • jim c.

      Snorky, If you are on the fence with silver and gold and how all of this is going to play out, these are the only facts you need to know: The smart people are buying physical silver and gold like it is going out of style , but it is being manipulated down to stay away from like it is the plague , china ,russia, and india are hoarding all of it (do you think they just like the color of it?) and there was a collar put on gold and silver back in dec. of 2014, (why in the hell would they do that ), If you can`t see the big picture just from those few things, your eyes are closed. As for me , I am all in with precious metals.

  13. Todd

    Great thoughts by another truth teller. The truth is hard to hear but is the only way we can be saved. We must prepare for the consequence of a government gone am muck. Debt is not good. We must return to Individual responsibility. We must now hope for a miracle. We must not despair. God bless you. Thanks for all you do Greg.

  14. ray antley

    Thanks for another great interview.

  15. Mark

    I just heard a great interview that covers a lot of ground concerning the global issues of oil, Baltic Dry Index, CB’s, etc. and provides keen historical perspectives. This ties into David’s interview today. Enjoy!

    https://www.youtube.com/watch?v=CtKdJjfbX14

  16. Mike R

    Too much alarmism over NIRP, and Japan’s latest monetary announcement….

    If the BoJ continues buying Japanese Government Bonds (JGBs) from the banks, and banks recycle all of those proceeds as excess reserves at the BoJ, then the average interest rate on those deposits might edge below 0% in “about two years.”
    And even that might not happen.

    The BoJ also said that it would increase the amounts that earn 0% as balances increase due to QQE. So Daiwa concludes that the excess reserves at the BoJ might never “be subject to a negative average interest rate.”
    http://wolfstreet.com/2016/01/31/end-of-qqe-in-japan-daiwa-capital-markets/
    So really what NIRP is signaling, and where these ‘negative interest rates’ might eventually and actually occur, is in a level where the retail public with savings in a bank, where never likely see or feel them. And further, it more than likely is signaling an end to QE as we have come to know it, where it is a positioning being done by the JCB, that will actually serve a role over the next 3 years to transition completely out of QE. Once again, people, don’t succumb to the alarmism, unless you really have studied currencies, and monetary policy for at least 10 years of your life. When you actually understand, come back here and tell me, because by then, you will no longer be a hysteric, and might actually like what is happening with the Fed raising interest rates and a slow but sure re-normalization of monetary policy. Its funny how people are saying that we should have raised rates 2 years or longer ago, and everyone like Stockman bitched about Qe, but now when the Fed is finally normalizing rates, its suddenly wrong and a supposed disaster. Gimme a break. Which is it Stockman ? Raise rates or not raise rates ? The FEd is also signaling an end to QE, yet everyone is saying we need to do much more of it, and the FED will have to reverse course with rate rises. Ive never in my life heard more whiners and complainers about economic policy, than Ive heard since the FED started QE. And now that they want to end it, the world is suddenly going to end too. Which is it people ??? If you know how to solve all of this, then put forth an alternate to what the FED is doing. Otherwise, maybe a little patience is in order, such as lets just see how this year goes, and see if all of these so called disasters being predicted, for the past 5 years, actually happen.

    • Occasnltrlvr

      I’ve tried to explain, it’s a long, slow transition to a more sustainable, multi-polar monetary system.

      Good luck – you’re not gonna find a lot of friends here.

    • Tin foil hat

      Mike R,
      “If you know how to solve all of this, then put forth an alternate to what the FED is doing. Otherwise, maybe a little patience is in order”
      The alternative is to allow the free market to function once again. The world should embrace an equity base monetary system rather than the Ponzi debt based monetary system.
      The former middle class and the bottom 90% are running out of patience.

    • Colin - 'the farmer from NZ'

      Mike R

      Yes….I will….”put forth an alternate to what the FED is doing”.

      The FED is owned by a cabal of evil private bank’s!
      Anyone that didn’t come down in the last shower should be able to grasp the simple concept that no central bank on earth should be privately owned, let alone the central bank of the world’s reserve currency.

      Mike do you really believe that the Fed gives a rat’s arse about Mainstreet America or the economy! Its sole purpose is to fleece Mainstreet and to line the pockets of its Bankster owners and cronies. And how much patience, read naivety, do we really need… this unconstitutional, and illegal entity has been thieving off you and your country for more than 100 years!

      Cheers
      Col

      • Tin foil hat

        Colin from NZ,

        Mike R. is the one of the bankers/cronies whose pockets are being lined.

        NYC is one of the pockets that is doing well in the US. House around my sister’s house in Sandpoint Village, Long Island are being gutted and renovated. Properties in Manhattan and close proximity have almost quadrupled since 08′. The bankers are doing well.

        Foreigners are buying properties in the community which they favor and they don’t care much about price. Properties in Flushing and Bensonhurst have doubled in 7 years – Are the Chinese buying up properties in NZ?

        Properties in the outer boro have gone up around 10%.

        vs.

        Nice top notch properties in Philadelphia drops about 10% in 7 years.
        http://www.zillow.com/homedetails/190-Presidential-Blvd-UNIT-602-Bala-Cynwyd-PA-19004/82350238_zpid/

        • Colin - 'the farmer from NZ'

          Tin Foil Hat
          Yes, the Chinese are buying in NZ but Govt restrictions are hampering their efforts in obtaining farmland. I believe the Chinese are investing in hard assets globally as they get out of paper money and paper assets. Who could blame them for this strategy as they have the wealth to do this because of their unprecedented and sustained growth.
          Cheers
          Col

  17. Tad

    This was the first time I’ve hear him say that gold “will soar.”
    In the discussion of dumping Treasuries, you and he both implied a debt default. Heard nothing of a general debt jubilee, so that is up in the air.

    That said, another round of QE seems inevitable, and perhaps that’s where the soaring gold price comes in, though I don’t recall him making that link, specifically.

    I tend to agree with the likes of Egon Von Greyherz that gold takes off this year.

    • Colin - 'the farmer from NZ'

      Tad

      The Roman’s had debt jubilees almost routinely….especially during the later part of their empire. I think they are a grand idea…..bring them on!
      Cheers
      Col

  18. Jackie Martly

    Greg, Another Great interview! David Stockman is always a Great guest. When he talked about members of the panel telling him that he was right about the phony bubble (slider position 3:20), that brought to mind who would be another Great guest to have on your show….. Rick Santelli. He seems to be a straight shooter who is also not afraid to talk the truth…..Any chance of that?
    Tks!

    • frederick

      Jackie I agree with you about santilli but doubt that he would appear on this site as he does get his bread and butter from the MSM

  19. Galaxy 500

    Greg
    Thanks for having Stockman back

  20. Edward Ulysses Cate

    The baby boomer’s seed corn was all gone during the 2008 crash, stolen by the banksters and replaced with popped-corn, so the sheep wouldn’t gang up them. Now they’re coming back for any seed corn they might have missed, plus taking back the popped-corn. The only way to win is NOT to play. Great work, Greg.

  21. gregd

    Greg,
    Not sure whom I should give credit to, but I’m sure I heard it at USA Watchdog, from Someone like Rob Kirby or Bill Holter that China would at some point re-price gold. They would at some point , offer to buy all the gold they could get their hands on at 20k an oz. maybe more maybe less. They would, I assume issue bonds or print to do this. And they need the debt and bonds to become the reserve currency.
    I can’t stop thinking about what a brilliant Idea that is. All the gold that the Chinese government already has, plus the Chinese people have been buying gold forever as their savings vehicle.
    The people from China are now much wealthier because of the re-price of gold and the Nation of China and Russia as well are all of a sudden, looking like the cleanest shirts out of the dirty laundry.

    • Tin foil hat

      gregd,

      I don’t know for sure but I believe the Chinese don’t have to reprice gold to $20k or whatever. They only have to price gold in yuan in their own exchange and allow the free market works its magic.

      They can force the dollar to peg against gold if the masses were willing to pay more for physical gold in the SGE instead of the paper promises, ratio of 543 to 1, in the COMEX. It would be added incentive if they declared that 10-15% of the CB reserve will be physical gold at mark to market price – nobody will accept paper gold in GLD as reserve.

      If the price of gold raised in yuan, gold in dollar cannot stay flat unless the dollar raise as fast as the gold price – the stronger the dollar, the harder for US manufacturing and exports.

      If the gold price in dollar didn’t raise accordingly, an arbitrage will facilitate gold flow from the US to China.

  22. David

    What a great interview. It just doesn’t get any better! David Stockman is one of the smartest out there… I always learn something when he writes/speaks. Thank you Greg for getting him back on.

    One observation: Stockman is much more relaxed when on your program. I believe it’s because you allow him to speak freely and elaborate on issues, rather than force him into a 30 second sound bite like CNBC, Fox Business, Bloomberg, etc. Great journalism. Thank you!

  23. Silence is Golden

    Greg,
    I was positive David would deliver….he didn’t disappoint.
    He covered everything and then some.
    I loved his slap down of the Central Bank. Priceless.
    Taking his view that the sheep are being led to the slaughter with this market for a third time and overlaying that with the recent Richard Fisher comment about the Fed’s agenda to front load the market, pushing it higher to create the wealth effect…..you really have to wonder how disingenuous the FED really is. No one really asked the question about whose wealth he was referring to. Again David hits this one fair and square on the head. Of course this all comes a bit too late for those that didn’t have the inside scoop. We cannot pretend that the market will re-trace (notwithstanding the 35 attempts)…..implying GET OUT on any rally….don’t fall into the trap (or their brainwashing) that markets always recover…sure they do…..but in meantime avoid the capital destruction …..have your bags full…ready to deploy when the time is ripe.
    David’s take on the end of the cycle in credit creation is worrisome….implies nothing can be done further to save the implosion from happening – asset value destruction. Which btw….concurs with Richard Fisher’s comments that the FED is out of bullets. Talk about rats deserting a sinking ship.
    We’ve had QE, TARP and ZIRP….what’s next is QT (tapering=NIRP) blended with some vintage TARP (Energy sector related distressed assets). Down goes everything from that point….and it wont be a feather in the elevator shaft type scenario….more like the locomotive over the edge of a cliff.

  24. Ron

    Greg,

    There is an interesting article by Hugo Salinas Price titled “The Coming Revaluation of Gold” on his website plata.com.mx

    http://plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=281

  25. glen

    is there an enlarging USD$ PHYSICAL CASH SHORTAGE occurring?

  26. randy0302

    Understandably conservative view on gold. That said, I like the notion of “Get right and sit tight”.
    When gold moves it may be too late for the little guys.

  27. Jallen

    Greg,
    David Stockman is very bright! With that said, a couple of thoughts. Definition; Recession is a correction to Over Production. Definition; Depression is when the Banks fail. Definition: Collapse is when the Currency fails. I am of the belief Bonds will fail including Treasury Bonds. When China issues a Currency back by gold, American Bonds will be headed to the Dust Bin of history and the Dollar headed for the Toilet in its new role serving as Toilet Paper. There is a reason why our forefathers warned us to not allow a Central Bank and America is about to learn that lesson the hardway!!!
    Bonds will become an intrument of Wealth Consfication in due time. America has fallen victum to the banker mantra ‘You deserve (fill in the blank i.e. Vacation, Boat, Car, Vacation House)’ and put you into servitude to them through Credit Cards and Loans. You deserve it when you can pay for it, with few exceptions. The Monetary System is the lifeblood of a society and the Federal Reserve is in the process of draining ours. Thank you David Stockman for telling us some on the TV Financial Panel are not allowed to speak the truth and thank you Donald Trump for the way you handled Fox News and thank you Greg for pointing out the major networks are losing their relevancy. Food for thought; has China deliberately shut production down and devalued its currency to destroy the Petro Dollar which supports the American Financial / War System, prior to launching a Gold back currency? With the dollar rising and the price of oil dropping what happens, does not the American Fracking Industry go belly up and what happens to American Banks that made the loans to them.
    What happens to Saudi Arabia who is the lynch pin for the PETRO DOLLAR, they are running a deficit and will be issuing Bonds to cover it and now Iran will be producing a half million to million barrlels of oil a day to put downward pressure on oil. Perhaps Saudia Arabia will no longer be in a position to demand American Dollars for their oil. Perhaps China will buy Saudia Arabia Bonds and then demand they pay for Saudia Arabian oil in Chinese Currency. Katy bar the door!!!!

    • Occasnltrlvr

      Ah, another believer in a gold-backed Chinese currency.

      Barring hot world-war, or world-wide monetary system implosion happening beforehand, China will not back a currency with gold.

      It won’t happen by the end of May, and I’ll let you pick which year 😉 .

    • Tin foil hat

      Jallen,

      I don’t think yuan will be back by gold 100%. However, gold will be as a mark to market reserve partially backing the yuan. If that happened, paper manipulation will not be allowed to continue and COMEX will be out of business.

    • Jerry

      Jallen.
      You are correct sir. Pay no attention to the tin man and the scarecrow knelling before the great and powerful dollar. The Chinese are getting ready to reveal what’s really behind the curtain in April. Much to our surprise it won’t be a balloonist from Kansas.

      • Tin foil hat

        Jerry,
        I don’t think the Chinese would pull the curtain if Putin is defeated. If we could somehow manage a Russian Spring, China will not act alone being that they would be surrounded by our client states.

  28. ED1

    I guess this question may be note worthy of an explanation because I asked it on the WNW and no one replied, so I’m gonna ask it again over here with hopes of someone speaking up.

    What is the significance of the date Feb, 19, 2016 that so many are talking about? There’s plenty of youtube videos and other information floating around out in cyber world on the 2-19-2016 date but I’ve yet to find one that states what’s the significance of why that date? All I read is that’s the day the economy is supposed to collapse (which I take with a grain of salt). But how can anyone state such without giving the reason for that particular date? Where and what are the facts of this date?

  29. notyourpatsy

    Mr Hunter, Another great interview from a well respected economist!

    The other evening I was out at a dinner for a financial talk, and tried to have a conversation on this subject with a woman at the table. She was adamant “the stock market will never fail”, when I suggested she not put all of her life savings into it. Her husband did listen to what I was saying, especially the part about ‘being in Direct Registration’ or you don’t own your stocks, you are in line BEHIND your broker! She refused to listen to logic so I stopped speaking with them, and listened to those conversations around me. So MANY people think the stock market is their salvation! The ‘financial presentation’ was put on by some ex employees of Lehman Brothers trying to convince the attendees to put their savings into ‘Whole Life Insurance Investments at 4-6% return’. Not for me but they did seem to convince some of those listening.

  30. notyourpatsy

    Another note of interest, a local branch of TD Bank closed this week here in NJ. Seems like an awful lot of ‘branches’ of national banks are pulling in their wagons lately. Anyone else notice bank branches closing around them in their States?

    • Greg Hunter

      Not,
      Good question for the group!! Thank you for the street reporting.
      Greg

      • Mohammad

        Not here in MI where i live.

        Mohammad

        • Vince Shook

          Building them like crazy here in Florida (St. Petersburg).

    • Diana Dee Jarvis

      Bank branch closings have been going on for a few years now under the guise of consolidation. In my area, BOA closed the branches they had inside Kroger stores. BOA also encourages people to bank online or at ATMs as much as possible instead of going in person to a bank. In other words, they’ve been cutting back on the number of employees and the costs of operating brick and mortar locations.

      • notyourpatsy

        DDJ, what I am seeing in NJ are National Bank Branches who’ve built brick n mortar buildings from the ground up, go belly up and vacate the properties. Unusal in my eyes if the financial picture was as the banks say it is. BOA closed a less than 5 year brick and mortar last year down the street. I can’t think of any use for such a building other than a local bank moving in.

    • lastmanstanding

      In Montana, not many if any have closed. However, lots of repurchase and name changing to generic, feel good, local-sounding, good ole boy, banks.

      I have my suspicions and no proof, but I imagine all of these repurchases are directly connected to GS, JPM, BofA, WF, Citigroup…all banks are under the DIRECT supervision of the federal reserve.

    • Matt

      Theirs a lot of talking of going cashless society lately. It’s talk, but it’s there. So do brick and motor banks need to be in high numbers? If most exchange is done outside of Fed fake notes today, then banks don’t need to be available as much.

    • Mary Casey

      How-37-banks-became-4-in-just-a-few-decades-all-in-one-astonishing-chart
      http://www.upworthy.com/how-37-banks-became-4-in-just-a-few-decades-all-in-one-astonishing-chart

  31. Mohammad

    Here is a whopper:

    https://finance.yahoo.com/news/bitcoin-now-classified-commodity-u-150300038.html

    Mohammad

    • Greg Hunter

      I agree Mohammad. Now more than ever. people need to invest in real things.
      Greg

      • WD

        But bitcoin is NOT REAL…how is that possible?

        • Mohammad

          it will be once it merges with FedCoins.
          The new digital dollar…!
          Mohammad

          • diane s.

            You may be right Mohammad.

  32. Jack

    David Stockman is brilliant but the government is broke. How will US Treasuries be worth anything when the government structure collapses? Cash may be good but the push is on to get rid of physical cash so they can herd everyone into banks and impose negative interest rates like the rest of the world. Digital money is a means of tracking every purchase so they can tax every transaction. Gold and silver are real but if they don’t confiscate, they can simply impose sky high taxes on any gains. We have to remember these people are sociopaths. The smart people are leaving the country, the rest of us are stuck.

    • xyz

      leaving the country to where? to Mars? to Cayman Island?

      • WD

        Xyz,

        A lot of high profile wealthy people have set up places to live when collapse happens. This is true.

        Thanks

        • notyourpatsy

          WD, Not really an option for the 99.9% of people ‘reading’ about ‘what to do’ about the coming financial crisis IMO.

          Jack, Doug Casey and Simon Black had the means to do so, and may come to regret their choices when all is said and done.

          I’ve lived and experienced the life in many other Countries, and stand by my statement. Ask Mr Holter how the ‘oh so great’ Costa Rica worked out for his friends and himself.

          Fact, crime is MUCH higher in Third World Countries. As an Expat you’ll ALWAYS stand out, if not by your standard of living, then by your accent and inability to actually ‘be a local’ no matter how ‘accepted’ you may think you are. Many of the Expats living abroad are cowardly Liberals IME having met many of them in my travels. They are what I term ‘Anti-Patriots’, persons not willing to stand alongside their fellow Countryman when the going gets tough.

          • WD

            I agree with you, one will stand out and be a target.

      • Jack

        To South America as in Doug Casey and Simon Black

      • notyourpatsy

        I’ve travelled the World, and America is THE BEST Country ,with the Best Natural Resources to endure what’s coming down the line. Do you really think being an ‘Ex-pat’ in a Country foriegn to you is going to be to YOUR benefit? When SS benefits get cut off from ‘expats living abroad’ what do think all those senior citizens are going to be using for currency? They’ll be stuck in third world countries making the local wage…if they can get a job!

      • Mohammad

        israel.

        Mohammad

  33. Karl

    Agree with everything he says. HOWEVER every time it looks like we are going to collapse Mario Draghi seems to save the markets by.opening his mouth or another central bank does something stupid like beg interest rates and markets soar back up. Any idea how much.longer this charade continues? I for one am getting g sick of it as every time you prepare for collapse it gets postponed. Holters global margin call now looks like it could be incorrect.

  34. Bill Sundling

    Eventually gold and silver price manipulation will end. Gold and silver will explode in price. We could see both heading up 500% in relation to the dollar. Then both will rise at the same rate that the dollar declines.

    • frederick

      I believe metals will increase far more than the dollar value drops from the panic buying that will ineviteably ensue Bill but that’s just my theory

      • Mohammad

        They will Frederick.
        The central banks that are crushing now gold and silver and hoarding it , will let it value at 8000 $/ounce to merely double triple quadruple their book entries and have the ability to create more digital money out of thin air.
        But by then average joe will have none.

        Mohammad

  35. RonT

    Not a word about inflation or Comex manipulation?
    Given what’s coming globally who knows that the stock market will ever recover at all?
    I believe I would go elsewhere for investment advice.

    • Greg Hunter

      Ron T,
      Be sure to apply for a full refund.
      Greg

    • frederick

      Ron you can disagree with Stockman if you like but that doesn’t necessarily make him wrong

      • RonT

        He said that the gold price was determined in the “pits”.

    • Shadow of Doubt

      Ron T,
      I was listening to Chuck Coppes radio show dated 1/29/16 (I am pretty sure you can find it at the TalkNetwork.com). I was dumbfounded when he quoted that as much as 17
      trillion dollars has already “disappeared” from the world-wide stock market –with a major correction still looming. There are 10,000 baby-boomers a day now retiring and with stock market this over priced–both the market and the future of the boomers look to be in serious trouble.
      P.S Manipulation of the Comex isn’t that a given? Coppes often refers to it “the Crimex”.

  36. don

    Greg, I read/hear about the Fed having 0% interest rates for the last 7 years. But this is based on the Fed stating inflation is about 1% per annum. Isn’t it true, if the real inflation rate is closer to 3%+, that we have had negative rates for most of the 7 years? And can you raise that point with some of your guests in the future? Thanks.

  37. WD

    Hi All.

    I think Stockman is on point with economy. I have a major problem with his stance on the 2nd Amendment…..so much so that I stopped going to his site.

    Please see below:

    “Leviathan, Gun Control And The Baleful Legacy Of The 2nd Amendment”
    by David Stockman • January 11, 2016

    “Let me be clear from the outset. I vehemently oppose Big Government and Nanny State regulation, but also have no use for guns, find hunting distasteful and wish that James Madison had never dreamed up the Second Amendment while politicking for the Constitution. The so-called right to bear arms is truly a vestigial relic of the 18th century and has precious little to do with personal liberty or public security in the 21st century.”

    This is by David Stockman
    http://davidstockmanscontracorner.com/leviathan-gun-control-and-the-ironic-consequences-of-the-2nd-amendment/

    • WD

      Greg,

      Thank you for bringing him aboard, he is an expert economist regardless of his other opinions.

      Take Care….

    • Tin foil hat

      WD,
      Communication is the only way to understand and maybe win over folks with opposite ideology.
      That is why I have friends who are Muslims. If we have a leader who would finally do something about radical Islam, I would vouch for the ones who are truly moderate and make sure they are not deported or jailed.

  38. Pvt. Mushroom

    I ‘m sure your viewers would enjoy Michael Hudson. PCR says he is the best “economist”.
    His latest book “Killing the Host” outlines it all in stunning detail.

    Thank again….

    • WD

      Mushroom,

      I was about to buy that book, is it that good?

      Thanks

  39. Tom Cunningham

    Hi Greg,

    Another great interview with Mr. Stockman. Anyone who cannot see that things are headed for another crash that will make 2008 look tame are the ones peddling fiction. I just ran across an article on Dr. Housing Bubble that states a bank in the San Francisco Bay Area is giving mortgages out with $0 down up to $2,000,000 value with a 680 credit score and no PMI at rates as low as 4%. Here is a link to the banks website:

    https://www.sanfranciscofcu.com/poppyloan

    It would be nice if you could book Mr. Fabian Calvo again to get his insight on what is going to happen this time around when real estate tanks. It has been a while since you had him on.

    Tom

    • allen ols

      Occasnltrlvr 01/31/2016 •
      I suppose you’re reading from the “aoV,” wherein it states:

      “Render…unto Caesar only taxes due, but nothing else that falls under the purview of civic responsibility.”

      Reply
      allen ols 02/01/2016 •
      Your comment is awaiting moderation.
      Let God have the people, let Ceaser have the tax, as who s picture is on the coin, who s image is on the face of man, it means, what belongs to God, voting is zero here.

      • Galaxy 500

        I don’t doubt that you being a nongovernmental would miss construe that. Ceasar asks for taxes, jury duty and voting.
        Nice try Al. Stay home, don’t vote attempting to bring about the apocalypse.

        • Galaxy 500

          allen ols02/01/2016  •

          Occasnltrlvr 01/31/2016 •
          I suppose you’re reading from the “aoV,” wherein it states:

          “Render…unto Caesar only taxes due, but nothing else that falls under the purview of civic responsibility.”

          Reply
          allen ols 02/01/2016 •
          Your comment is awaiting moderation.
          Let God have the people, let Ceaser have the tax, as who s picture is on the coin, who s image is on the face of man, it means, what belongs to God, voting is zero here.

          Reply

          GALAXY 50002/02/2016  •

          Your comment is awaiting moderation. 
          I hate that spell corrector!
          I don’t doubt that you being a non voter would miss construe that. Ceasar asks for taxes, jury duty and voting. I Jesus’s time, you couldn’t vote or do jury duty… just taxes. So miss interpret away, Dude. Miss Jury duty for something where they need you, don’t have enough people to proceed and see if there aren’t serious consequences. They will throw the book at everyone that doesn’t have an approved excuse.
          Nice try Al. Stay home, don’t vote attempting to bring about the apocalypse. Even the POS that Bush is would make a better choice the Hillary or Bernie.

    • JC Davis

      This is interesting because so many republicans were saying Obama could not be president because Obama was born in Kenya. Why is there little to no talk from the RNC about Ted Cruz open confession of not being born in the USA. What makes Ted approved and Obama disapproved ? Elections are RIGGED. Is there anyone that thinks the Dems are not going to open this can of worms ? I hope this is not the planned distraction issue for 4 more years.

      • Silence is Golden

        This is where it gets really interesting.
        To be President of the US of A Inc. ….one does not have to be a US Citizen.
        Proven fact.

        • JC Davis

          Where can I find this fact SIG. Other then looking at Obama.

        • JC Davis

          Never mind I get it. USA INC is run by other then the elected vote.

          • Silence is Golden

            Yes.
            Doesn’t it make your blood boil ??
            Deceit of the highest order.
            Tip of the Iceberg…I am only getting started here.

            • JC Davis

              Yep SIG it does make me sick to know the home of the free and brave is nothing less then the uninformed slave. By the time most understand they are trapped in this fools game…The game will change. However like I tell my dog Henry , Its all about making good memory’s. Forget the bad think on the good. Its a all day job.

  40. diane s.

    I don’t watch TV. . This is the first time I’ve heard this woman Clinton give an interview.
    I could tell she was lying. Easy to see.

  41. Zoey

    A commentor on Lindsey Williams’ website posted another email from Jim Rickard for The Daily Reckoning on 1/27/16:
    “Dear Reader,

    It’s one thing for bloggers to predict financial collapse. But what happens when the world’s most powerful people gather in a secret conclave to say the same thing? That’s what happened last week at Davos. Heads of state, CEOs, academics and central bankers gathered to discuss the state of the world.

    The mood was gloomy and frightened. The elite view was that the next financial collapse is coming, and it will be worse than 2008 in two ways — financial losses will be greater, and it will be accompanied by social unrest.

    William White, former chief economist of the Bank for International Settlements, summed it up when he said, “The only question is whether we are able to look reality in the eye and face what is coming in an orderly fashion, or whether it will be disorderly.”

    The view that a recession is coming, and that it will be worse than 2008, is not confined to world leaders at Davos. They’re saying the same thing on Wall Street and on the floor of the New York Stock Exchange. One of the top officials at the New York Stock Exchange told me privately that “There’s no liquidity on the floor. None. When the market tanks, no one will stand up to it. Stocks will go ‘no bid.’”

    That sentiment is also echoed by Zhu Min, the third highest-ranking official at the IMF. He’s also the former deputy governor of the People’s Bank of China (PBOC). Because he has experience with both the Western-controlled IMF and the Communist-controlled PBOC, no one has a better global perspective than Zhu. I interviewed him on the subject of China and gold in my book The Death of Money. His comments at the time were highly revealing. And here’s what he’s saying now to global elites in Davos: “Liquidity could drop dramatically, and that scares everyone. If everybody is moving together, we don’t have any liquidity at all.”

    When stocks start to go down, financial journalists become obsessed with the percentage declines that make up a “correction” (10% decline) or a “bear market” (20% decline). But those percentages are arbitrary and misleading. Recessions and bear markets typically produce much greater losses than that. Declines of 35%, 50% and even 75% are not unusual in severe bear markets.

    Below, I show you how the elites use the “shock doctrine” to take advantage of the sort of crisis we could soon be looking at. The shock doctrine lets them implement the unpopular and undemocratic agendas they can never get away with in normal times. I also take you ahead to the year 2024 to lay out the frightening scenario I see unfolding over the next few years.

    Regards,

    Jim Rickards
    for The Daily Reckoning”

    Part Two:
    “The Shock Doctrine: When Order Trumps Personal Freedom
    By Jim Rickards

    One of the most influential books among global power elites in the past 10 years is Shock Doctrine: The Rise of Disaster Capitalism, by Naomi Klein, published in 2007.

    The shock doctrine is an essential concept for understanding how power elites such as central bankers, finance ministers and the ultra-rich work behind the scenes to advance their agendas. These are the people who just got done meeting in Davos.

    The shock doctrine also explains how today’s world could quickly turn into chaos. In December 2014, I looked ahead 10 years to 2024 and envisioned what it might look like after another financial crisis. Here are some excerpts from my dystopian “In the Year 2024”:

    My work now is only historical, because markets were abolished after the Panic of 2018. That was not the original intent of the authorities. They meant to close markets “temporarily” to stop the panic, but once the markets were shut, there was no way to reopen them without the panic starting again.

    Authorities started printing money after the Panic of 2008, but that solution stopped working by 2018. When the panic hit, money was viewed as worthless. So markets were simply closed…

    Stock and bond trading were halted when the markets closed. During the panic selling after the crash of 2018, stocks were wiped out. Too, the value of all bonds were wiped out in the hyperinflation of 2019. Governments closed stock and bond markets, nationalized all corporations and declared a moratorium on all debts.

    To facilitate the gradual freezing of markets, confiscation of wealth and creation of Social Units, world governments coordinated the elimination of cash in 2016. The “cashless society” was sold to citizens as a convenience. No more dirty, grubby coins and bills to carry around!

    World leaders initially explained it as an effort to “buy time” to come up with a plan to unfreeze the markets, but over time, they realized that trust and confidence had been permanently destroyed, and there was no point in trying.

    Wiped-out savers broke out in money riots soon after but were quickly suppressed by militarized police who used drones, night vision technology, body armor and electronic surveillance. Highway tollbooth digital scanners were used to spot and interdict those who tried to flee by car. By 2017, the U.S. government required sensors on all cars. It was all too easy for officials to turn off the engines of those who were government targets, spot their locations and arrest them on the side of the road.

    The entire process unfolded in small stages so that investors and citizens barely noticed before it was too late. Gold had been the best way to preserve wealth from 2014–18, but in the end, it was confiscated because the power elites knew it could not be allowed. First, they eliminated cash in 2016. Then they eliminated diverse currencies and stocks in 2018. Finally came the hyperinflation of 2019, which wiped out most wealth, followed by gold confiscation.

    This is not conspiracy mongering or science fiction; this is a plausible scenario.

    Shock doctrine is simple. Political leaders use crises to ramrod policies into place no one would accept in normal times.

    When the shock occurs… People begin to value order above liberty.

    The shock doctrine begins with the fact that power elites have agendas that take decades or even centuries to implement. These agendas include things like world money, global taxation, control of physical gold, population control and other plans intended to increase the power and wealth of the few at your expense.

    Political elites are not fools. They understand that their agenda is highly unpopular. They also understand that democracy empowers everyday citizens and makes their unpopular plans hard to implement. This is where the shock doctrine comes in useful.

    A shock can take many forms. It can be a financial panic, terror attack, natural disaster, assassination or other extreme event of a kind that seems to come out of the blue but is actually somewhat regular and predictable.

    When the shock occurs, people become fearful and look to their leaders for comfort. People begin to value order above liberty. It is at these critical moments that the elites stand ready with a “plan” that will restore order but also secretly advance their agenda.

    In effect, inevitable shocks are used as a cover to implement plans that you would not accept in ordinary times. Order is restored at the expense of liberty. When the shock wears off, the new order remains but liberty is lost forever. This is the shock doctrine at work. After each episode, the elites retreat and wait for the next shock, which is always just a matter of time.

    A good example is the USA Patriot Act, passed by the U.S. Congress in 2001. This was the legislative response to the Sept. 11 terrorist attacks. There were a lot of good items in the Patriot Act that aided the global war on terror and helped to eliminate Osama bin Laden. But there is also much that has been abused in the years since.

    You and I have lost our privacy and have our private communications, emails, phone calls and other records collected. If you’ve traveled abroad lately, you may have seen the new kiosks at Customs that take a digital retinal scan of each returning traveler. This is something that used to be handled with a paper passport.

    Privacy and liberty are mostly gone as the result of policy responses to various shocks such as Sept. 11.

    That retinal scan goes into a digital data bank, perhaps to be used to pursue political enemies, as happened in the recent IRS scandal. Privacy and liberty are mostly gone as the result of policy responses to various shocks such as Sept. 11. There are many other examples.

    For investors, the important question is how will the shock doctrine be used next? What is the unfinished business of the power elites? What is the next part of the hidden agenda to be revealed? And what shock will be used as cover to advance that agenda?

    These questions have definite answers. Regardless of those agendas and coming shocks, there are things investors can do today to avoid being manipulated by the power elites.

    There are investments such as gold, land and fine art that are not digital and cannot be wiped out by computers. There are wealth preservation strategies that are not subject to current tax. There are portfolio diversification strategies that are robust to many types of shocks even if each particular shock cannot be predicted exactly.

    And if you’ve taken those recommendations, and want something else? Something that takes a little bit more risk in the hopes of generating higher returns? Then, click here and take a minute to review some details I’ve put together for you. As I’ve mentioned in the past, my proprietary indicator, The Kissinger Cross, is a powerful tool that investors can use to improve how they invest.

    Regards,

    Jim Rickards
    for The Daily Reckoning

    P.S. Here’s what the global elites didn’t mention in Davos: The world’s largest banks have been quietly meeting with one of the most secretive and connected government men in the world…

    This man’s so connected, he’s been on speed dial for eight presidents since 1969.

    HSBC — the largest bank in Europe — was reported last week to have met this man.

    Even American Express is quietly tapping him. Why now? What are all these financial firms trying to extract from this man? And why wasn’t this front and center in Davos?”

    Jim Rickards goes into details about how he envisions elites may confistigate wealth by eliminating cash in 2016, then eliminate diverse currencies and stocks in 2018, hyperinflation by 2019, which wipes out most wealth, followed by gold confiscation! Jim discussed about the shock doctrine but he didn’t include how elites would use EMP attack and WW3.

    • Greg Hunter

      Zoey,
      Much too long my dear. Please cut this way down and use a link next time.
      Greg

  42. Mohammad

    The BIG RESET:

    https://www.youtube.com/watch?v=yTLLDbw175k

    Mohammad

  43. Peter

    Stockman is sharp and I agree with him, although his timing
    might be off. I agree on PMs, in that unless we have a total collapse, their may not be a short term advantage in owning them. Owning PMs in the past few years has not been fun and it seems that conservatives are the ones pushing that. That being said, I’m real conservative and I believe stocks should be shorted and cash is king.

  44. Laura

    Rick Wiles interviews Rob Kirby.
    https://www.trunews.com/trunews-020116-rob-kirby-the-slush-fund-of-the-nwo/

    Thanks so much Greg and commenters!

  45. Laura

    Greg, I appreciate all your time and efforts to make the American people aware of what is going on in our nation. I share regularly on FB and send friends and family this website’s link.

    Most times, ppl don’t want to hear a 20-30 minute video when they are just being introduced to a fresh news site. Would you consider posting on YouTube a few shorter segments out of a longer interview. For example, David Stockman’s opening statements about the media in “Bubble Vision” would be an amazing short segment.

    Having said that, I love your site and will keep on sharing!

    • Greg Hunter

      Laura,
      Good idea but I don’t have a lot time to edit down different versions of the material. If I had a staff, I could and probably would do it, but all you got is me and I only got so much time. I have to stay up on booking and research to keep the quality high. Thank you for your suggestion and kind words.
      Greg

      • Laura

        I understand. What an inspiration you are… look at what ONE person can do! Thanks again!

        • Greg Hunter

          Thank you Laura.
          Greg

  46. Don

    Greg, until Sunday all the info. on internet about people seeing two suns, and posting pictures, I took with a grain of salt. Then Sunday evening, my son phoned me and said while outside cleaning his yard up the sun came out from behind the cloud, and to the left or south of it was another sun, so he took a picture of it and sent it to me as a text picture. My first thought was maybe a sun dog, but when I viewed it, the appearance was of a solid mass. The edges were not distorted or fuzzy. I have to say, I now believe we have a visiting planet in our solar system. If you would like to view, I could send by text, to cell phone.

    • Greg Hunter

      Don,
      Please do.
      Greg

      • Beligarant

        This is probably Mercury which closely follows the Sun. Mercury and to some extent Venus are so close to the sun they are difficult to view but can be incredibly bright. Usually best times to spot a plant like Mercury is at sunrise or sunset which matches the criteria above. I wouldn’t get too excited about this because if it was true an amateur astronomer would have already located and posted it all over the internet.

    • Silence is Golden

      Interesting.
      There is another opinion on this.
      The 10th Planet – Nibiru, has a 3600 year retrograde elliptical orbit around the Sun.
      It passes through the Solar system between Mars and Jupiter. It is a Brown Dwarf Planet.

  47. notyourpatsy

    Mr Hunter, I recently noticed ‘Red Stars’ vs ‘Black Stars’ to the Left of ‘Name’, and ‘Email’ locations on the ‘post comment’ form. Does this mean you are flagging my comments or is something more ‘interesting’ going on because of my disclosures on your forum? Thanks Pat

    • Greg Hunter

      Not,
      I don’t flag anything or use “stars” in any way.
      Greg

  48. Don

    Give me a number to send it to.

  49. Mike from the North

    Recently I have noticed a trend that even applies here.

    As we get closer to THE EVENT I am noticing more and more challenges between the people posting here.

    Is that the result of an increase of trolls and if it is then that is just further evidence that the powers to be are loosing control and getting nervous.

    The WHEN matters little, the important thing is ….are we prepared…

    By prepared I do not just mean food stacked and PMs stacked.

    The emotional toll that most will soon pay will undermine a great deal.

    This seems a good time to have a one on one talk with your spiritual self.

  50. Jerry

    Greg,
    Have you ever heard of the term zombie ships?
    http://www.afr.com/business/transport/shipping/zombie-ships-clutter-ports-and-coastlines-20160124-gmd2iu
    Every time I look at the Baltic Dry Index I ask myself, where are the shortages? Either we’re living off surplus from storage facilities or something is wrong with the index. It makes no sense. This article confirms the accuracy of the index though.

  51. ED1

    I too am getting red stars in the email boxes next to *Name and *Email. Never really paid much attention to it before so not sure if they have always been there? No stars next to my name in postings, however.

  52. ED1

    Greg, thank you for another great interview. David Stockman knows his stuff in terms of economics. So much so that it’s difficult for me to keep up with what he is saying. Interesting how he can rattle off so many facts and figures without effort and with no notes.

    However, I checked out the link provided by WD’s post on David Stockmans stance on the 2nd amendment, mostly because I didn’t want to believe such an intelligent man would state such. Well, I’m a believer now and have lost some of the respect I had for him. Anyone that cannot see the importance of the second amendment, and hunting as well, is simply blind to the facts. It can take up to 30 minutes to get the police out to the rural area here. Very doubtful a perpetrator would be still hanging around by the time the law gets to the scene.

    It bewilders me to know someone of David Stockmans stature would be so blind to this.

    Thanks again for the great interview.

    • WD

      ED1

      Thanks for looking at my link I posted… I to was shocked to see this. I have come to this conclusion.

      DS has a multiple pensions form public sources. He lives in a “guarded” neighborhood , he is basically an East Coast prep school brat. I think he really looks down on us people.

      Paul Craig Roberts does not think much of him

  53. Mark

    Greg,
    Here’s a telling clip from your friend Greg Mannarino on the FSN site today.

    http://financialsurvivalnetwork.com/2016/02/stocks-dive-bond-yields-plunge-what-you-need-to-know/

  54. Tad

    http://sgtreport.com/2016/02/heres-how-this-bus-driver-handled-a-young-refugee-punk-kept-beating-him-senseless/

    Off topic, but how a Sicilian bus driver deals with a Muslim refugee who misbehaves.

    • Mohammad

      Tad,

      They are young, around 17-18, not experienced, disorganized, new to the culture.

      Keep in mind that those youth do not have money, came from a war torn place……. did you ask your self WHO PAID THEIR ~10000EURO/PERSON SMUGGLER FEE????????

      Once you answer the question then you will realize that who paid that smuggler fee will arm them. then the picture is clear.

      I feel sorry for THE BUS DRIVER.

      Mohammad

  55. Mark

    All,

    Stirring discussion about possible SDR reserve currency by the Fall.

    http://thedailycoin.org/?p=61292

    • Mohammad

      There will NEVER be a reset as long as the war in SYRIA did not go one way or another.
      So far it is a stalemate .
      Undecided.
      SO NO RESET.
      Mark my words.

      Mohammad

  56. notyourpatsy

    Thanks for your reply Mr Hunter to my question regarding my posting. It may have something to do with the Windows Spellchecker I’m using. The image above the number 8 on the keyboard is what I was referring to as a ‘star’. I’m always keeping a keen eye on my system because I certainly think it’s all under surveillence. Thanks again Pat

  57. Oxfarmer

    One more in a series of excellent interviews. Kudos, Greg!

    Street watch on bank closings..not much here in rural New England. Instead, they merge. I drove past a relatively new building put up by a local multi location bank to find, overnight, it had become another bank. They seem to have all the signage at the ready, then .pouf! Like magic at midnight. It is not the first time…

    Conversely, we have an awful lot of vacancies in little malls, yet developers want to build more. Soon all that will be left is doctors’ offices and other medical services, deep discount places, grocery and liquor stores.

    • notyourpatsy

      Vacancies at malls and strip malls are ramping up in NJ everywhere one looks. Commercial real estate is sitting for much longer periods unoccupied. Oddly, like I mentioned a few weeks ago, there are some contractors/home builders starting new home constructions, even though resdidential real estate is not moving.

      Ox Farmer, Interesting noticing the ‘name change overnight’ on your local bank chain up there. Should make one question the ‘safety’ of their money in a bank?! Looks like the govt wants to force folks into spending their ‘disposable’ income into tangibles. Yet, most folks don’t have much of a ‘nest egg’ left with which to do so, which precludes most from even considering precious metals.

      So are they Holsteins Oxfarmer, lol?

  58. r.j

    Greg Jerry has it right . Bottom is in for gold.Retrace to 1100 pehaps before jobs report on friday. After that were off again. None of us has a crystal ball. That is why, because i am not the sharpest knife in the drawer , I have learned to listen to those who have along term track record of success.We are above the 200 day moving average, lets see if the moving averages turn up over the next few weeks. R.J.

  59. Pinocchio

    Economic Prediction For 2016:

    – Cash will be the king.
    – An ounce of paper will be worth more than an ounce of gold.
    – Bernie Madoff will pay off all of US government’s debt.
    – Osama bin Laden will resurrect and become the last president of USA without taking any part in general election.

  60. Sayonara

    Greg:
    My Norton Internet Security Software rendered the following message when I clicked on the DavidStockmansContraCorner.com link above. What gives? Just Gots to Know?

    Dangerous Website Blocked
    You attempted to access:
    http://davidstockmanscontracorner.com/
    This is a known dangerous website. It is recommended that you do NOT visit this site. The detailed report explains the security risks on this site.
    For your protection, this website has been blocked. Visit Symantec to learn more about phishing and internet security.
    Exit this site
    Continue to site anyway

  61. Oxfarmer

    notyourpatsy,
    I did wonder how much lead time depositors get before midnight magic signage takes place. When our family’s small, locally owned bank changed its name they hyped it for months. Maybe sellouts don’t have that luxury.
    I am personally sick of new construction when there are plenty of places in good locations that could be furbished. Am noticing some of these new builds are not full occupancy, and more than one has torn down homes to build and left a field of weeds.

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