Oil Derivatives Explosion Double 2008 Sub-Prime Crisis-David Morgan

David MorganBy Greg Hunter’s USAWatchdog.com

Precious metals expert David Morgan says the plunge in oil prices is not good news for big Wall Street banks.  Morgan explains, “The amount of debt that is carried by the fracking industry at large is about double what the sub-prime was in the real estate fiasco in 2008.   In summary, we’re looking at an explosion in potential that is greater than the sub-prime market of 2008 because, number one, oil and energy are the most important sectors out there.  Number two, the derivative exposure is at least double what it was in 2008.  Number three, the banking sector is really more fragile . . . and we have less ability to weather the storm.”

Morgan, who is also “a big-picture macroeconomist,” says oil derivatives could take down the system just like mortgage-backed securities back in the last financial meltdown.  The Fed said the sub-prime crisis would be “contained.”  It was not.  So, could oil derivatives take down other derivatives in a daisy chain type of collapse?  Morgan says, “Absolutely, there is no question about it.  The main problem is the overleverage of the system as a whole.  Warren Buffett calls derivatives weapons of financial mass destruction, which is a true statement.  Secondly, look at how derivatives are interconnected.  Derivatives can tie a financial instrument to another financial instrument or a financial derivative can be tied to an oil derivative.   This is just a flavor of how complicated these mathematical equations really are, and no one really knows the risk in them.”  So, underwater oil derivatives in one bank could bring down the financial system?  Morgan says, “Absolutely, because it is all tied together, all the banks are interconnected.”

So, if the oil sector unraveled, what would happen to gold and silver prices?  Morgan thinks, “Gold, I am pretty sure, would maintain right where it’s at, and that would be the worst case scenario, or it would go up and go up rapidly.  Gold and silver may go down temporarily like we saw in 2008, but they will catch a bottom and come up.  Silver in a deflationary environment has not done that well in the past. . . . Gold and silver are crisis hedges.  People will say I don’t know what is happening.  I’m scared.  I need something I can trust.  You can trust money that has been money for 5,000 years.  That’s something you can trust. . . . You can’t escape the truth.  The truth wins out in the end.  We are getting to that point, an inflection point.  I think gold will go up, and I think silver would follow and probably go up more rapidly once people caught on there is uncertainty.  There is an unbelievable lack of trust in the system.  People need something they can trust.  Physical gold and silver is something you can trust, and it’s been that way for thousands of years.  People aren’t that stupid, they understand that.”  Morgan goes on to say, “I am not implying this is going to unravel tomorrow.  I think it’s going to take a longer time frame than you might expect.  I really think it’s going to take four or five months from now.  I am thinking May or June before you start looking for the repercussions of this sub $50 (per barrel) oil.”

Join Greg Hunter as he goes One-on-One with David Morgan of Silver-Investor.com.

(There is much more in the video interview.)

After the Interview:

David Morgan thinks that silver would have to break $26 per ounce and gold $1,500 per ounce before they could vault higher.  Morgan thinks both metals could go up dramatically after reaching those price targets.  If you would like to go to “The Checkerboard Game” conference in Spokane, Washington, January 24, 2015, please click here for details.

(USAWatchdog.com receives zero compensation from “The Checkerboard Game” conference.)

  1. Jeff L

    ” I really think it’s going to take four or five months from now. ” ………… If that is true then we have plenty of time to raise the oil price 2X or 3X as I’ve said will occur. How many black swans can you count to start the rise ? This is something I’ve been adamant about for months. To me it’s a no brainer………….

    • Jeff L

      Here’s some back-up to my theory….[ http://www.zerohedge.com/news/2015-01-06/energy-crisis-early-2016 ]

      • Orion

        Hi Jeff,

        Thanks, I read the article by Tyler Durden and it is an interesting analysis. However, he begins his article with: “…we could see gasoline prices doubling within 18 months.” I think he is correct; we will see low oil prices for at least a year, so I wouldn’t look for a price increase in four to five months. Fortunately, most of our domestic oil production comes from the deepwater Gulf of Mexico. The major oil companies in the deepwater GOM run very low price premises before they decide to proceed with billion dollar production facilities. They can withstand sub $50 per boeq and much lower. They won’t be happy about it, but it won’t sink them either. The independent oil companies cannot afford the costs of deepwater exploration and production. The independents focus on either established, older shallow water shelf fields or onshore production. Durden is somewhat incorrect in his statement: “If crude oil prices move below $60/bbl and stay there for even six months it could prove catastrophic to non-OPEC supply.” Sustained lower prices will only damage the domestic shale plays where production rates are lower and per bbl costs are higher and will eventually sink them. The oil field service companies are also in for a world of hurt. Cheers.

      • Paul from Indiana

        Contained? Of course! It’s what government is SUPPOSED to say. Ask the Japanese whether Fukushima is contained! By 2007, the real estate boom had reached it’s peak, and the air was coming out of the bubble. But we limped along, distresses were showing, but the overall veneer of normalcy held…until gas went to $4/gal in the summer of 2008. That broke the consumers’ backs, and by Jan. 2009, the markets were down 50%. I agree with Morgan that the effects of what is going on now will be plainly evident later, and the catalyst will be something fairly trivial in the overall scheme of things, but which will be, at that moment, enough to tip the scale. Best always. PM

      • OzFan

        True article. Bubble and busts, rinse and repeat.

    • Jeff L

      When I stated we have time for higher prices I meant it’s quite possible to see higher prices in the short term that would ease the pressure (derivative/debt) currently facing the oil/banking industry…….. It would ease pressure in our economy and the BRICs, including Russia. Moreover, it would provide a distraction for all that ails us…….. What I’m really saying is there’s much to be gained by many parties for a major black swan, specifically in the Middle East (oil)………. I expect it and higher prices…….. It could be something as simple as demanding gold for oil. That would be the best/safest route.

      • paul

        Jeff …
        When the oil price is “reflated” it should have a significant effect on the price of silver.
        As you know 44 million ounces of US silver eagles were purchased this year, if a similar amount of Canadian maple leafs were purchased, and a similar amount of Panda’s, and all of “other” silver coins, etc. (it all probably totals about 200 million ounces of silver) … now back in the late 70’s the Hunt brothers trying to protect their oil profits bought the same amount of silver 200 million ounces (or half the world’s available supply)!

        Although the Hunt brothers were forced by the powers that be to disgorge of their silver holdings … today it’s harder for the powers that be to disgorge the silver from millions of people (except by price manipulation) … however those who have studied history will find that one ounce of silver should always be worth about one barrel of oil … so eventually … when the oil price “is reflated” and reaches $250 “matrix dollars” per barrel … expect silver to also sell for $250 “matrix dollars” per ounce..

    • Oracle 911

      It can and will go down to or under 40US$, for the shale (or shill) driller will get hit hard and then there will be layoffs and the rest of the economy that is binded to it will evaporate.
      The Russians, well, they will ask either for their own or their allies currencies or gold.
      About the “implosion” of the Russian economy, not well known fact: about 16% of Russian GDP is from oil and gas revenue, 10-15% is from other resource exports. So, what is the rest?
      Another question is, which country has 18 US$ trillion debt and about 544 billion trade balance deficit, thus bankrupt and on the verge of collapse?
      Well, not the Russians.

      My 2 cents.
      Oracle 911

      • Oracle 911

        Well the trade balance deficit ex petroleum is about 46 billion. My bad.

    • OzFan

      Damage done before oil rises. You should read ‘oil is the real deal” article in ZH. No one escapes this oil deflation….no one gets out of it without pain.

      • paul

        Oz …
        A silver “bug” could escape the oil deflation … all he has to do is buy a barrel of oil for one of his (1)ounce silver coins … then trade the oil to a grocery store merchant to heat his store at a price 10% below retail … The “bug” should be able to get about $100 dollars worth of meat, milk, fruit and vegetables … even if the “bug” bought his silver coin at the market peak of $50 dollars/oz he will still be doubling his money … and if the “bug” is not good at trading he could simply “stack” the oil barrels in his back yard … and just wait for the oil price to rebound.

  2. mohammad


    Great interview as usual.
    SILVER/GOLD ratio is 6/1
    This is been around for about 1500 years with ZAKAT system . and it will be back again at a certain point in time. Yes…They are good at the games they play (central planners) but they cannot defeat god’s will. bumpy ride for sure but then things will set the righteous way, dust can cover the sun but not for long time.
    Black swan is not oil.
    It is Syria.
    Saudi’s are liquidating, yes liquidating their oil assets because they are in trouble.
    Possibly they sense their golden days are over and the table is going to be turned upside down on their majesty head (Syria is not going their way) and the young heir are in big fight among each other on who the successors are to the old sick king, do not forget also what is happening in Yemen and how the HUTHI’s who are PRO IRAN are taking over completing a full circle around the Saudi’s, and then the oil move can be understood.
    May be they are taking their marbles before they unravel.


    • lastmanstanding

      The young “heirs” are about to again…ride a camel. No one will escape this.

      Vicious cycle brother, but the only way out. The ignorant abuse of a mammoth amount of energy in a very short time frame with no regard for the future.

      All for power, control and profit of humanity.

    • anni

      Yep, Yep I am with you Mohammad. Most of the armchair economists here discount the connections of what is going on in the Middle East. I am really glad for your reports.

  3. allen ols


    strong points this interview, may or june, my sentiment, unless the gobbmnt comes up with some more stupid fin instrument we never imagined, like who would have ever considered the term “quantitative easing”.

    exerpt from Bill Holter;

    Before getting to my main topic “The Manhattan Project”, it would be good to tell you about my New Year’s Eve “informal poll”. It has been many years since Kathy and I have gone out on New Year’s Eve because the restaurant food is always the worst meal of the year due to the pressure on cooks to crank out more meals than any other evening. It is also a dangerous night to be out and about because every amateur and their brother are out on the roads guiding 2 ton missiles with beer goggles on. We decided to go to a neighborhood party just walking distance away.

    I’m not trying to bore you, rather, I am trying to make a point. I went to this party with a purpose. A purpose my wife Kathy just cringed at. My purpose was to see people’s reaction to the truth as I see it. To give you a setting, we live in a community of 300 or so homes, well away from any city or town. In my opinion, we will in the future have a “community meeting” similar to this New Year’s Eve party, only that meeting will be under similar circumstances to the “Jack and Jill” scenario I wrote of last week.

    OK, the first person I saw when walking in the door was the “General”. He is a retired military officer who teaches concealed handgun classes (for free) to people in our community because he believes a well armed community is a safe community. We have spoken several times about “what” we believe will happen, he had already thought the defense strategy through before we had ever spoken. He “gets it”. The “people” unfortunately don’t.

    While mingling through and meeting people, each time I would mention “we will probably see each other at the next meeting”. Each time I said this, it was followed with “what do you mean?”. It truly was funny, the looks I got each time. I then would explain “you do know the banks are going down this year, right”? Though this was not a broad sampling, 100% of whom I spoke to said things like “that will never happen” or “this is America, it can’t happen here”. There was also another “100%” agreement when my response was “do you agree the government is broke?”. Each and every person I spoke to agreed, “the government is broke”. Almost no one even knew what a derivative is, every single person knew “something” is not right and every single person agreed “the government is broke” … BUT …it can nor will ever happen here because “this is America”!

    I wanted to relay this to you because it confirmed everything we had thought, the public is beyond clueless. Not only clueless but in absolute denial. I am sure there were some conversations afterwards about the “crazy drunk cowboy” who thinks the banking system “can” come down. I am not sure what other than denial can explain the mental fog which covers our land, but covered it is!

    • Jeff L

      Allen You were definitely the most unpopular one at the gathering. I assume you already knew the response/outcome of your “experiment”…………. Give it up. For your safety and your families…….. You are now target #1 when SHTF.

      • allen ols

        jeff, tks, remember the story was from bill holter, not mine. 🙂

    • anni

      I had a very similar experience, some knew some did not. One statement which I loved the most was, “well we all have to die sometime.”

  4. Iona Laundramat

    Why is this conference in, of all places, Spokane, WA in January? Oh, brrrr! Sounds like these guys might be thinking outside of the box but in the wrong way. Arizona or So. Cal. are quite nice this time of year. Hope the highlights of the conference are online afterwards.

    • lastmanstanding

      Morgan lives in that area.

    • allen ols

      “… Why are the banks considered to be the holy churches of the modern economy? Why are private banks not like airlines and telecommunication companies and allowed to go bankrupt if they have been run in an irresponsible way? The theory that you have to bail-out banks is a theory that you allow bankers enjoy for their own profit their success, and then let ordinary people bear their failure through taxes and austerity. 
People in enlightened democracies are not going to accept that in the long run. …“
      Can we imagine Obama ever speaking this way in public? The short answer is that it does not matter if he ever did. America is hopelessly mired in debt and there are no options except financial collapse and likely martial law, followed by civil war.

      Iceland Was Only Attacked by Bankers

      As Goldman Sachs and friends sought to plunder Iceland’s banking structure and individual bank accounts, the people of Iceland fought back. However, today’s attack on America is far worse.

      The United States is facing both a coming bail-in (e.g. Greece) and a bail out (America 2008). In other words, the bankers are robbing the American people from both the inside and the outside (i.e. G-20 bail-ins) and (more talk in the media about having more bail-outs).

      During the height of the Wall Street takeover of the Iceland banking system, each person in Iceland was $150,000 in debt. Based only on the derivatives debt alone, every man women and child in our country owes $318,000,000,000,000 dollars ($318 billion dollars). And even if America were to successfully occupy every country in the world, along with their assets, we could only acquire $65 trillion dollars, which is the entire wealth of the planet. In other words America, in which century would you like to pay off this debt? The 21st, the 30th, the 90th century? And please remember, these numbers don’t represent the $240 trillion dollars in unfunded liabilities.

      What is more likely, the bankers forgiving the debt, or an economic collapse followed by a civil war? The FEMA Camps are being built for a reason.

  5. Emeth

    For all the Gold bugs here, I am told that the news from the WSJ is that the the world’s biggest gold bugs have tempered their buying demand. The Wall Street Journal recently reported Perth Mint’s sales of gold coins were down 28% from 2013 and the US Mint was even worse, down 39%. This is different to the drum beat we are constantly hearing.
    Sorry, I don’t have a link to verify.

    • Greg Hunter

      My sources say that large orders could not be filled at the Perth Mint. I don’t have a link it’s just a source. Also you are talking about coins for the small investor. Rob Kirby who arranges delivery of gold between parties such as governments can’t find tonnage to deliver. Again just a source who has been interview multiple times on this channel. I guess you are all-in with the USD?? Thank you for your comment.


      • Paul from Indiana

        Greg, unfortunately all of us are ALL-IN with the US dollar. Isn’t that the problem? Best always. PM

        • Greg Hunter

          It is a problem for anyone who has no diversification. Anything tangible is diversification my friend.

      • Emeth

        Greg, to be honest I just don’t know who to believe on the PM data. One side says that global supply for gold cannot keep up with demand. The other side says that demand has dropped significantly over the past 12 and again over 24 months.
        To my thinking the drop in price indicates a drop in demand. Most of the charts I find focus on price moves and not physical demand, so I struggle to get a handle on it and fully understand what is happening. The links below are a few months old, but show declining demand.


    • Smaulgld

      The “world’s biggest gold bugs” dont buy Koala one ounce gold coins from the Perth Mint, they buy large London Good Deliver bars 350 ounces or more- see here

      The Chinese buy bars to their own higher standard causing the LBMA bars to be melted down and recast in Switzerland and shipped to China

      Also the largest gold demand by far comes from jewelry https://smaulgld.com/gold-supply-and-demand/
      not investment and a good portion of that comes from India

      I follow the Perth, US, Canadian, Austrian and UK Mint gold and silver sales and report on them as their data becomes available.
      Their sales howver dont necessarily provide any real insight into global gold demand.

      What they do tell is that unfortunately the retail mom and pops are not preparing by buying gold. Seems those people are biying silver.

    • Colin - 'the farmer from NZ'

      Here is a link for Perth Mints gold and silver sales jul 2012- dec 2014
      Yes gold sales for the year 2014 dropped 31.5% and silver by 12%.
      However this is hardly surprising for us small time strugglers in the Antipodes.
      Disposable incomes have declined dramatically in Aus and NZ during this period so one of the last things we would be buying are gold and silver trinkets. If I personally had any spare cash at all I would be loading up on physical PMs. especially silver.
      I won’t comment on the US mint sales as there are far more qualified commenters on WD than me for this task. I very much suspect that the same reason applies in the US for lower sales to the smaller investor, i.e. plummeting disposable incomes.

    • OzFan

      Nice try. Btw, WSJ = propaganda, media tool for the cabal/cartel.

    • lastmanstanding

      If you believe the WSJ I feel for you…one of the only truths that comes from the gurus, etc. is that silver is the most UNDERVALUED commodity on the planet. Once again, no silver, no technology of any kind. NO Military IC, NO Medical IC, NO Surveillance IC, NO insurance IC, NO oil IC and finally NO BANKING IC. Why do you think that they make every attempt on the earth to devalue it, cause you to loose faith, interest in it?

      Because they must have it to control and enslave you…and if that doesn’t work, kill you.

      A day is coming where there will be no energy to waste on the destruction of silver or the recycling of it…IF, energy is used to recycle it, you will see the true value of something that comes from within the secrets of the earth. Save your copper pennies, and nickels as well.

      Good soil, shelter, water, seeds, protection assets, tools, family, friends, health, commonsense and finally some “precious items that have been MONEY for 5000 years will be all that matters.

      Once again…”that is how the planet works.” REAL value is just around the corner.

    • JMiller

      American Eagle gold sales from the mint were down big in 2014. People seem to be buying more silver.

    • Chris F.

      Hi Emeth, Don’t listen to any news source, all you need to know is that reserve currencies do not last forever, they expire. The USD is expiring now. To keep things simple for you all you need to do is look at the US unfunded liabilities (not even including our debts) they are at least 100 Trillion and as high as 200 Trillion by some estimates. Now the money for these Unfunded Liabilities does not yet exist. In essence they were put off till the future. And the only way they can ever be funded is to print 200 Trillion Dollars of new money printed out of thin air At interest. Emeth, pay attention to what is really going on. The Chinese have been making deals around the globe to trade in Yuan, kicking the USD to the gutter. Look at the Gold Russia is buying as well as the Bank of China as well as all the sovereign looking for repatriation of their Gold from the Fed “Supposedly” held on deposit. Emeth, what I am saying is try to think for yourself. ……..

      • Emeth

        Thanks Chris, and all the others who offered advice.
        As to the encouragement to ‘think for myself’ – believe me I certainly take that to heart. But this is what I find … the information I find is all loaded by vested interests, whether it be those who support or those who oppose PMs. From first hand experience I fell for the PM propaganda back in the late 70s early 80s, being young and naive. What I am hearing from the PM advocates is the same singular dialogue I heard then. Now I have assets, then I had very little. Now I diversify, and try and find what is real. This is a real challenge. But then I read this (Matt.6:25-34 – particularly trying to grasp V33) and conclude, why worry worry so much about these things. Many thanks.

  6. allen ols


    Going into a long weekend, Jack and Jill have a conversation over dinner. They talk about the recent headlines they’ve been reading and the topic turns to the economy and markets. The Dow just five days ago hit an all-time high and the employment news earlier in the morning was really good! The problem is, the employment news said the housing industry was doing terrific, particularly in their region. Jill works in the mortgage market and Jack works for a bank so they both know this news doesn’t really add up, the discussion morphs into “are they really telling us the truth”?

    Then, something starts to happen at the front of the restaurant. It looks like four or five couples are all arguing with the owner and the discussion is becoming heated. You see, their credit cards are not working, none of them! One gentleman slips out to cross the street and get cash from the ATM to pay his bill …but he came back empty handed. The “tone” begins to change once another customer who went to a different ATM machine returns with the news his card was also denied. The owner decides to call the police because it looks like he is going to be stiffed on most all of the tables since he generally is paid by credit or debit card 85-90% of the time. The police inform him this is happening everywhere in the city, at gas stations, Walmart, restaurants, everywhere! So, Jack leaves his business card and promises to come back on Monday to pay, a nice gesture but one he had no idea was pointless!

    They spend the weekend watching the news feverishly because they found out it was not “just” their city having these problems …it was all across the nation. They feel some relief on Saturday morning as the “news” tells them a coordinated hack attack has taken down the clearing system for banks and is only temporary…but their warm fuzzy feeling turns to near fear when they go online to the internet. It turns out, the banks are being closed indefinitely and something about China and gold …and dollars being refused by foreigners. Jack doesn’t get it nor does Jill, how can this be? What do you mean the banks are closed and dollars not being accepted? Dollars are used all over the world …and what is Jack supposed to do Monday morning if his bank is closed? Will they still pay him his salary?

    Monday morning comes and Jack goes to work only to find a sign in the front door “Bank closed indefinitely, sorry for the inconvenience” and a sign on the employee entrance with a phone number to call. He calls and gets a recording, “due to circumstances out of our control, you will not be required to attend work until further notice”. A cold chill washes down his back and he calls Jill. She is already on her way home because her mortgage company is also closed, what are they going to do they wonder? The first thought in both their minds is “food,” what are we going to do for food? When they meet back at the house, Jack pulls out $300 from a drawer that he tucked away after coming back from vacation last month. On their way to the store, they see huge lines as they pass gas stations. They both wonder why there are lines since credit cards aren’t working but they soon find out …the grocery store is mobbed and the shelves are almost bare. All of the canned goods are gone as are the basic staples like rice, pasta and beans. There are a few vegetables left, along with spices and condiments but nothing else. They were apparently too late.

    As they were leaving the store, Jill thought, “what


  7. paul

    Greg …
    Here is an interesting tidbit … Jan5, 2015 US President Barack Obama admitted that falling international oil prices are part of “a grand strategy” aimed at weakening the Russian economy.

    This “grand strategy” is like a homeowner putting his house on fire to get rid of squirrels in the attic!

    Perhaps the idea was to have “a little fire” (to drop the oil price to $80 dollars per barrel) and smoke out the Russians.

    But the Russians didn’t cut back on oil production as the fools playing with matches thought … Russia pumped out “more oil” … same with the Saudi’s (who’s gold was stolen by these same fools) … both of whom pushed the oil price down further then anyone in the Obama administration expected … a monstrous fire is now raging that can bring the whole economic house down … ending US “oil independence” … as the entire shale oil industry … shuts down.

    What kind of loony tunes are giving advice to Obama?

    What moron in charge of US “sanction” policy couldn’t see this coming?

    With the huge increase in the value of silver this has caused … it won’t be long before one ounce of silver buys a barrel of oil! … just a few short months ago it took five ounces of silver to buy a barrel of oil!

    Now … how do I go about stacking oil?

    • Greg Hunter

      I can’t believe he was stupid enough to admit that.

      • Smaulgld

        Here is the NPR interview
        Watch from 34:32 for two minutes and you’ll hear the rationale

      • Winston Churchill

        Greg, he was though.
        What amazes me is that he believed that the Russian’ s and Chinese couldn’t see it coming.I think they were counting on it.
        The petrollar is already dead, the dollar is about to die when the oil derivatives implode taking it with it.
        Cui bono ?
        The old bull elephant fell into the trap.

      • Colin - 'the farmer from NZ'

        Obama is so utterly incompetent nothing surprises me anymore.
        It will be a miracle if he completes his term without taking the world to a full scale military war.

  8. Apollo

    Do u want to know the truth?

    • Greg Hunter

      More true today than ever. Thank you for the link.

  9. Mike

    The word for 2015 will be DECEPTION.

    It is my belief that people will finally clue into the amount of deception that is present in our society today.

    NOTHING..let me repeat NOTHING is like what the average person believes.

    We are so close to this spinning totally out of control that we could wake up any time now and everything could be changed.

    Maybe our only hope is that there is a organized plan out there by honest people to take back the WORLD.

    Maybe I am just out to lunch but my sense is that some good people have had enough and we are on the eve of change. Well maybe the eve of revolt.

    Happy stacking everyone.

    Stack gold and silver.
    Stack food.
    Stack anything that you can that will sustain you for weeks if not months.

  10. Anne Elliott

    Morgan is so right when he says that the derivatives are connected. Even my little 3 branch local country bank admitted to me that they have “some” connection to European derivatives… “it is a global world, you know”. Maybe the ultimate goal is when the oil companies start going belly-up, the gov. will come in with bail-outs so that they can get control over those companies. Kind of like the IMF. “If you take our money, then you are subject to doing what we tell you to do.” Just more centralized control, only now for energy. Let’s see – centralized control for banking, stocks, bonds, medical, and now energy? We’ve already got tight controls on the food industry… We are ripe for a one world dictatorship, and it so looks like we’re headed that way.

  11. Jerry

    Greg this is a very important interview.
    I’m not sure how many of your readers really understand the implications of the collapse of the oil market. Besides the rippling effects that will effect the derivative market, the lending houses, and host of subcontractors involved in oil industry, there is yet another aspect of this story that has yet to be told. Why? Why would OPEC collapse its own industry? I have a possible answer, and no its not to weed out the US shale oil producers.

    According to my source the recent attack in Libya on the Greek oil tanker was carried out by elements of the Saudi intelligence community in order to send a message to the Russians and Chinese that they are on board with dropping the petrodollar. The oil collapse is nothing more than a house cleaning, in preparation to set up revised market values in relation to the coming Petro Yuan. The proxy war has been settled, and the old Saudi guard that was once loyal to the United States, has been replaced, by younger, more ambitious Saudi princes that see their countries future with the RMB instead of the dollar. In the business world, you always go with who has the hot hand, and right now, that’s not us, its China. While we print money they buy gold. While they expand into new markets, we create more government entitlement programs. I have no doubts that once the oil market resets itself, it will be under a new set of rules, with a new financial backer, and it won’t be the dollar.

    But before I get slammed let me just ask, if you were in the house of Saud and you saw a threat by one of your enemies like Iran (who the US is getting cozy with) by your biggest trade partner ( the US ), who just stole your gold, what would you do?
    Just my opinion.

    • Jerry

      More good news. Brent Crude goes below $50. a barrel.

      • paul

        Jerry …
        Many people are under the false impression that silver should not be held in a deflationary environment … that you can’t trust money that has been money for 5,000 years … that “fiat debt instruments” are the only things one should put in a shoe box under your bed … you know, “that same fiat paper money that the Fed produces out of thin air” to bail out the banks, to bail out the car companies and now most likely to bail out the oil companies, etc. etc. … yet … as oil continues to drop toward $20 dollars per barrel … it will only take “one ounce of silver” to buy a barrel of oil … whereas a few months ago it took five ounces of silver to buy a barrel of oil … so as everyone can now clearly see silver performs very well in a “deflationary environment”!

        • Jerry

          Agreed Paul.
          The bigger picture is oil is going to reset under a different currency backstop. Mark my word. I have been watching this for months. The Plan: First you get the gold. Then you get the oil. Game over US. Rock beats paper.

    • Jerry

      Read this report from Zero Hedge from September 2014 and my statement will make more sense.

    • Jeff L

      Jerry I understand all the implications you speak of and see all the moving parts. These moving parts (countries) understand they must move before Israel (Iran), US/Nato (Ukraine) or any other entity moves first………. This is why I see something happening soon, especially considering the precarious economic position throughout the world. Saudi, Russia, Brics all have an interest in a new system. Germany is close……….. Russia is at the top of the list to make a move. They have the most to lose (war besides economics). But I think they are waiting for a “simultaneous” move with others. They need that cover or will be singled out again as the “bad guy”.

      • Jerry

        Its coming in the form of a major false flag event in the middle east between now and March. Forces are building up. I personally know some people who are headed to Dubai now. From what I’m told its going to be a major event. I sincerely hope not.

        • Jeff L

          Exactly what I’ve been referring to…….. Exactly why I keep saying all this hand wringing over (low)oil prices is misguided………… The stars are aligning and Bill Holter’s storyline will become reality……… So will oil 2x-3x.

    • Jerry

      Greg I would have to say Jim Willie nailed it dead on with this prediction about the petroleum realignment going on right now. Simply Amazing !

    • lastmanstanding

      Not to mention that Russia and China are far closer to SA. Logistics eventually become an important part of commerce.

      Loyalty, like real tangible value, was always an integral part of trade. Like you said in your last paragraph…”What would you do?”

    • Jeff L

      ” The oil collapse is nothing more than a house cleaning, in preparation to set up revised market values in relation to the coming Petro Yuan.” ………….. Agree, and everything I’ve been saying since this started…………. Everything is being allowed to move to “extreme” levels to facilitate a HARDER fall……… The market, bonds, the dollar…….. On the flip side oil and gold will reverse to the other extreme………… This will have nothing to do with supply/demand that everyone’s talking about………… It will be a dollar based move.

    • Jerry

      Greg let me tie a story that went unnoticed a few weeks ago to what is happening now in the oil industry.
      This is what happens to oil executives who plan on making a deals with the Chinese and OPEC. The western bank cabal does not play nice. I am getting reports that the attack in France was carried out by black opts from Langley, to send a message to the French leadership that they had better not join the BRIC nations in dumping the petrodollar. I’m sure this story will get buried along with the Boston bombing story.

      • Greg Hunter

        That is an awful big charge and that will be hard to backup and source my friend.

        • Jerry

          Agreed Greg.
          I got most of my information on this from my inside source. When I first heard about it, I discounted the story entirely because I was focusing on Ukraine. Now I realize he was right after seeing what has happened in the oil industry. Consider it another weird occurrence like the banker deaths. Time will tell.

      • Jeff L

        Sad to say but as soon as I read about the French attacks I immediately assumed it was a warning shot across the bow to the French…….. Hard to back up Greg, but absolutely the pattern for the last few decades. Problem is, the deeper you look, the more atrocities you find linked to these sub-humans.

    • woody188

      Chinese real estate is blowing up.

      China can’t handle it’s own house, much less the world economy. The BRIC’s and huff and puff but there’s bite as their own economies are as mythological as a dragon.

    • Paul from Indiana

      Jerry, the Petro-dollar “marriage” between the US and Saudi Arabia was just a shotgun wedding, anyway. Best always. PM

  12. Art Barnes

    Greg, I believe oil will find a floor at any time Saudi Arabia decides to cut production, then, just before the announcement from S. Arabia of the production cut Congress will sneak a midnight tax on gas, after that it starts is gradual rise daily until the banks can get paid for their loans from the fracking industry at which point it could go way up again screwing the American people. Don’t ever believe this new Congress led by the tax & spend Speaker won’t do it, just look at what he did last month in the bloated budget he demanded his party to pass. You can bet that American Government has a deal with Saudi Arabia as to when the bottom will be halted; knowledge is power as they say & Congress will cash in on it sooner rather than later. I just don’t believe that oil is not manipulated when all the other markets are, there are no coincidences in politics and besides getting a new gas tax the U.S. can threaten Russia & Iran(both oil exporters & adversaries) once oil raises that if they don’t get in line they will make it fall
    again. Last point, the elite know where the breaking point oil & the banking industry holding the loans on it and they will dance on that line and maybe just a little under for the floor before the rise.

    • Paul from Indiana

      Anybody here old enough to remember the hit musical show, and later hit movie, “L’il Abner” based on the comic strip of the same name by Al Capp? In that show was a musical number performed by the inimitable Stubby Kaye called, “The Country’s in the Very Best of Hands”. It’s probably on YouTube. This has been going on a LONG time, folks. Best always. PM

  13. Klemens

    Just INFO off topic:
    The very first NEWS on german “CNN”: n-tv: Massaker in Pariser Zeitungsredaktion Angreifer töten elf Menschen.
    They did not know the exactly number of dead people, but they wrote: 11 dead people.
    here what`s happend:

  14. Art Barnes

    Greg, forget to mention that Bush & Obama’s religion of peace is back at it again, this time in Paris. This will go on until the West decides to move the Moors out of Europe once again. However, here in America the elite are counting on the Americanization of the religion of peace to stop the holy war such as fast women, dirty pictures, drugs, alcohol, & free money; which won’t do it, the caliphate will only be stopped by the gun; calling for justice, declaring attacks workplace violence just emboldens their cause. Being naive about the intent, capability, & the resolve of the caliphate will not end well for the good old USA. Meanwhile the religion of peace marches on and the White house has denounced the attack & will assist the French Government in bringing those responsible to justice; wow, another bold response, that will scare them.

    • Colin - 'the farmer from NZ'


      IMHO The AAC and in particular Washington and Nato will just continue their current foreign policy which is;

      Any country that does not bow down to their hegemony and bullying will be subject to
      systematic and constant interference and disruption.
      They will persist with the bombing and murdering and the bloodshed on a massive scale globally until the situation improves.


    • Paul from Indiana

      A brilliant exposition of how it all ends, as we will do NONE of what you correctly identify as the prescription. Having Obama in charge makes us the Trojans bringing the Greek horse into the city center. As the Everly Brothers sang, “so sad to watch good love go bad.” Best always. PM

  15. galletta

    Just guessing, but I would think the failure to make coupon payments on the bonds issued to the failing oil companies (i.e US Shale) will show their effects in the next 4 to 5 months. If coupon payments are done monthly, they are probably done quarterly. So if there is mass failure to make these payments most of the defaults would begin to occur after March assuming there is no cash on hand.

    • galletta

      and assuming oil doesnt go back up by then allowing these companies negotiating room to refinance. But also, at this point the Fed will just QE to mask any problems until the dollar fails outright

    • Silence is Golden

      AND opportunities will be aplenty …..for those with deep pockets and canny sense….to pick the pockets of those that took enormous risks….who have an urgent need to liquidate assets ….FOR PENNIES IN THE DOLLAR.
      This is as much about the Debt creating implosions in financial instruments of mass destruction as well as centralising ownership of natural resources.
      Here’s a snapshot…..debt (owed to banks) is reneged = assets are repossessed + derivatives imploding = lack of collateral = TBTF Banks are Nationalised. Government controls the natural resources.

  16. James Sullivan

    Great Interview. Im surprised the issue of oil derivatives has not been spoken of more, even in the alternate media. ts not just Junk debt defaults by the fracking industry, although that will have a serious impact….but the other derivatives based on oil which WILL take down the system. Thanks Greg!

  17. allen ols

    John Boehner secured his third term as speaker losing 25 votes on the House floor to really unknown members of the Republican Conference. Boehner is one of the most corrupt and ruthless politicians in Washington. This is not a very nice guy. I reported previously that he threw anyone off of any financial committee who supported the tea party or Ron Paul. Boehner also prevented Ron Paul’s name from even being nominated at the Republican Convention. He is a very spiteful and highly revenge seeking individual Boehner quickly has moved to oust two of the insurgents from the influential Rules Committee who voted against him. This guy is capable of destroying the Republican Party and is indeed fulfilling our model that 2016 will be the strong showing of third-party candidates. Boehner is anything but respectful of criticism.

    Boehner is always about revenge and paybacks. He will target all his betrayers, who would otherwise see subcommittee chairmanships and other perks be handed to only his supporters. He acts more like a king than the leader of a party. Boehner wants dictatorship and he abuses his position to threaten and coerce anyone who is against his ruthless style of politics. Therein lies our downfall of the United States. We have no hope of reform with people like this in Washington.

    • Colin - 'the farmer from NZ'

      It sounds like Boehner has all the credentials necessary to become President!

  18. Wim

    Many thanks again Greg for the insightful interview. I receive the Morgan report for years now, as I follow them all regularly.
    In a world wherein lies rule, turning around power, as that corrupts, going for the wealth, and adrenalin rush with it all, it could be a thought to forget everything you got thought, start from scratch, and build up a new view upon the world. The belief system, the financial system, the political system, and the sorts, as they interact in shaping the world. School is necessary, but as governments are captives of the big capital behind the scenes, captive by corruption, by ignorance, or whatever combination, school doesn’t insert the things they don’t want you to know, as propaganda machines are all over the place, making lies the rulers of this one world. When I started to investigate the system the beginning of 2008, I started with checking the silver price.

    ‘Record sales of silver at the US mint, people are already going into physical silver’, as you mentioned Greg. In Europe they sabotaged physical silver by labelling it solely a commodity, as well they did with small investment bars, by which it’s charged with VAT, which is 21% by now in Holland. I guess the financial rulers behind that one, as Europe is the birth ground of many evil forces. In 1873 the silver war was won by the powers that be, the biggest criminals walking this earth demonetized silver.

    Mike Maloney, as Bill Still does, warns for the view from gold bugs, when a gold standard arrives, the whole scam starts all over. Bill Still in his documentary ‘the secret of Oz’ tells about the greenbacks of Abraham Lincoln, not backed by gold, but backed by honesty, which is key factor in the control of quantity of money. An honest non backed fiat currency can function like a gold standard, but then key factor is honesty, which is tricky in a by lies ruled world. Till honesty arrives gold and silver will most probably be the railroad, via a trade window, to a changing system. An honest greenback system, next to a fixed price gold trade system, gold inflating with the inflation/deflation rate, and some interest, as capital should be precious, as it stores liberty, along many other ingredients. May the view of the founding fathers of America one day go viral in this one world, and love be the permanent dictator.

  19. Galaxy 500

    When are derivatives due or is there a daily collateral settling?

    • Silence is Golden

      Oil has been falling for the better part of 4-5 months.
      Derivatives bets (out of money) would have shown up immediately (meaning any downward movement – which became trending). Panic would have set in from the get go.
      Banks taking the bets (on the losing side) would already be in serious trouble.
      Wouldn’t surprise me in the least if this has all been papered over (with FED injections to re-capitalise).
      Remembering Derivatives are OFF- Balance Sheet = not reported nor REGULATED.
      Some BANKS are bleeding profusely as we speak.
      Just saying….. 😉

  20. Al hall

    Always good to hear David. But, David will never say there is manipulation in the metals- suppressed gold and silver. He believe it’s just the markets reacting.
    On derivatives- Greg- I have told you many times- My CIA friend told me in 2008-
    1. that the elite’s would take the stock market back up one more time, and when they want to they will crash it again to steal the peoples money one last time. They did it in 2008 and made trillions. 2. that the derivatives market is were the crash/collapse will start.
    Yes, the oil pricing can cause all the derivatives to crash. Nothing but, a large gambling
    casino. New laws just passed protect the banksters and screw the people again. Corrupt Government is in on the whole thing.

    • Silence is Golden

      Impeccable timing on changes to “Bail-In” rules. Who would have seen that coming ?
      1 + 1 = 3

    • Mike

      Steal from the middle class and make yourself richer and more powerful.
      That does seem to be the agenda of the last 2 or 3 decades.

      I learned at lot of lessons in my life and the greatest one I have learned is, the world is ruled by corruption.
      The second lesson I learned is the markets are rigged.
      Precious metals will again become the backbone of our monetary system at some point.
      There is no other way to bring back confidence.imho
      If the East holds the bulk of the gold then the power will be there. If the West cannot ponnie up to participate in the new monetary system then the West will slip into a position of little influence.

      One only has to follow the people that comment here to realize that the knowledge of the truth is out there and it is slowly being distributed to a wider audience.

      I enjoy the comments as much as the interviews themselves.

      Thanks to all that share their knowledge and opinions here.

      My fear is the arrogance of US politicians will not be able to deal with such a situation.

      Anyone does not see major developments in 2015 is totally out of touch with what goes on.

  21. Chris F.

    David makes an excellent point that has bothered me for quite sometime, that an Eric Sprott type fund buy 10 or 30 Million more ounces. I think I remember Sprott purchased 10 or 20 Million ounces at around $30- per. And I have been buying Eagles all along this drop!

    • Silence is Golden

      I asked the same question several months back (on this site).
      Seems too hard to answer…..no one with enough $$$ willing to crash the system.

  22. allen ols

    The gold jewellery sector is the second largest employer in India, and gold is a key part of the Hindu religion. Simply put, the Western gold bears and their ridiculous chart patterns are no match for the “shock and awe” power of a billion Hindus, whose thirst for gold is…. insatiable!
    23. Please click here now. That’s the daily gold chart. Note the Stochastics oscillator buy signal in play now. Note the “bull era channel” that I highlighted. In the very short term gold will continue to move erratically, in response to key economic data like the upcoming jobs report on Friday. In the bigger picture, the rise and consistency of Chindian demand should create a stable and modestly rising price trajectory.


    • Al hall

      Al- I’m in S.C. and have purchased gold/silver now for 10 years- low and high. But, want people to know- my coin shop dealer for himself only has gold/silver jewelery. Because he say the government will never take jewelery, but could take coin and bars.

  23. Donna

    “When all else fails, they take you to war.” (Celente)

    Incredible footage depicting the results of greed and fat egos. Displays desperation and resolve with everything in between. Nothing changes, we never learn. You won’t so much as blink viewing this. This seems to be how we “solve” dirty politicians’ dirty dealings time and again. The best depiction I have seen of who pays the tiller ultimately.

    “Sure, we’ll show them Russians who rules, round 4,” says D.C. Gold and silver? The powers would have us citizen against citizen for a hot meal and a warm coat.


    • paul

      Your right Donna … the Cabal whips up our emotions and instills hate among peoples to foster destruction, burning, killing, etc. … so they can make more “matrix money” for themselves (selling the weapons of destruction and then selling the materials to eventually re-build) … when all is said and done … millions of people have died (for nothing) … and the Cabal smiles as they are sitting on a mountain of fiat paper money that is worth (exactly nothing). Chaos, destruction and evil … All for nothing!!

      People must learn … that when their emotions are riled up by a small Cabal of evil people … a warning siren should be going off in their head … don’t allow the evil Cabal to use you like a puppet on a string … JUST STAND DOWN!!!

      When the cold Russian winter snapped the German soldiers out of their “trance” … they just STOOD DOWN … with no one to fight their evil war … the Cabal had no choice but to end the madness!!

  24. allen ols

    from survivalblog.com A GREAT ARTICLE!!!!

    Lessons on Prepping From an Afghanistan Deployment, by A.K. – Part 2
    We are continuing this article, from a Marine Sergeant, about lessons learned while living in a remote region of Afghanistan, Marjeh district, which seem similar to a possible TEOTWAWKI environment.

    After two months of eating nothing but MREs, I began to get sick of them and started losing weight. Many of my fellow Marines experienced the same thing. We started to barter batteries for food that the ANA ate. They had a cook and bought bread every morning from the Bazaar. They had chickens for eggs and meat, and occasionally they had a goat. Eventually we bought 12 chickens for eggs and even began milking a goat. We would buy rice, beans, fruit, and veggies from the Bazaar and have my interpreter cook. It got to the point that the battalion was actually giving us money to buy food with. We found out later that some of the smaller units in remote locations had been doing this the whole time. Many Special Forces units will bring cash, as it is lighter than food, and just buy what they need along the way. This also cuts down on the trash you produce that, if left around, can let the enemy know vital details about your unit, such as size, location, country of origin, and how well supplied you are. In TETOWANKI, we might not have the luxury or being able to purchase food in a market, but if you are moving through an area and trying not to be noticed, you need to be careful to bury all trash. Another thing to consider is that if no one in the area is eating MRE’s and some trash is found, it will tell potential threats that you are a mobile and maybe para military force. If they discovered food the locals were

  25. Wiiliam

    Excellent work & selection of interviews

    Thank You

  26. smaulgld

    Demand for silver eagles or all minted coins do not constitute the largest chunk of demand for silver.
    Overall demand for silver is about a billion ounces a year.
    Sales of US Silver Eagles was “just” 44 million ounces in 2014.
    Here is a full break down of silver supply and demand:

  27. Art Barnes

    Greg, in the United States if if were found out that one of the Paris killers ten years ago worked at the newspaper Obama and his religion of peace cronies would call it work place violence. Also, the next time a terrorist attack happens in our home front maybe we should immediately ask for the French to help. Maybe its time to rethink all the French criticism about their resolve, they understand they are under siege, we, however, haven’t gotten past calling them misguided religious fanatics who could use some counseling.

    • Al hall

      Art- France shootings believed to be another False-flag event
      click here- http://21stcenturywire.com/2015/01/08/paris-mayhem-the-french-connection-false-flags-and-the-charlie-hebdo-incident/

      1. see info about John McCainin article- and

      2. see video at the bottom. guys on roof top taking the videos are in bullet proof vests before the shooting begins????

      • Colin - 'the farmer from NZ'

        Well spotted my Friend!
        I am shocked but so grateful that you sourced and posted this video evidence of what is in effect a ruthless and murderous pantomime. The western world seems to get sicker and more evil by the day.
        Obviously to anyone with half a brain this is another false flag event and once again poorly organized and badly staged.
        Nevertheless no doubt the MSM will misrepresent the whole incident and the sheeple of the world will be none the wiser as to who the real terrorists are.
        I wonder how long they will take to catch the Patsies.
        This is absolutely sickening.
        2015 is off to a very bad start.

  28. Outlookingin

    The MSM keep repeating the establishment mantra, that the crash of the price of oil is due to the US (with a colluding Saudi Arabia) in order to economically crush Russia. This is wrong.

    The simple reason is a world wide oil glut. Its a simple matter of supply and demand. There is an over supply, with a reduction in demand. The over supply is becoming worse as oil companies and OPEC nations pump more, to make up for the short fall in revenue.

    The reduction in demand is also becoming worse, as the global economy worsens. Beginning in mid-June 2014 the global commodity sector began to collapse and has since continued its downward trend. Oil is a six month lagging indicator as the system becomes over supplied. We are now seeing supply and demand being priced in.

    Within the world derivative sector, 55% of collateralised debt obligations (CDO’s) are based on leveraged loans. Traders (technical funds) as of October 16, 2014 sold 150,000 leveraged contracts of NYMEX crude oil futures, equivalent to 150 million barrels of oil. These derivatives are now exploding.

    • woody188

      I have to agree. The rise of the USD also meant SA doesn’t have to have $90/bbl to buy whatever it is they want in USD. So they can cut the price as much as they want, and rely on their reserve wealth to shake out all the little guys, then buy up the assets on the cheap. Rinse and repeat. It’s the typical boom/bust cycle. Just boomed a lot higher this time due to easy money via QE and all those derivatives. Probably means the bust will be equally as dramatic on the opposite side. Look out below!

    • Paul from Indiana

      Whether by collusion or by the market forces, isn’t the outcome the same? The floor falls out from under the derivatives and a chain reaction ensues? At this point, the effect is more important to our daily way of life than the cause, it would seem. Best always. PM

  29. mohammad


    A very sad day indeed. And extremism does not have a religion, it is evil and no matter what shape and form it gets it is CONDEMNED.
    our hearts and prayers are out to the victims of the terrorist attack that took place in Paris today.
    Our religion Islam does not teach us that, my mom and dad never taught me that. always we were taught how to respect life that god gave us, and that is what i instill in my kids.


    • paul

      Well said Mohammad … don’t allow the evil Cabal to rile us up in anger against our fellow men … their plans will not work … if we all … STAND DOWN!!

    • Paul from Indiana

      (Greg, you may post or not at your discretion. It is not my intent to be incendiary or provocative. I can’t tell if what I say is over the line or not, and I certainly do not wish to antagonize anyone, especially the good Doctor, whose input, presence, and contributions I value highly.)

      Doc, everyone appreciates your contributions and insight here. Evidently there are competing versions of Islam, as the so-called extremists would say you’re not Muslim. It can’t be both ways. Either they’re not Muslim or you’re not. If they are not, then the majority of Muslims, the respectful advocates of peace, have to rein in, or disavow, the extremists before they misbrand the entire group. As outsiders, we infidels cannot readily distinguish and differentiate. What puzzles most of us infidels is why the world doesn’t see more action in that direction. Absent progress in that direction, the whole deal gets really messy, really fast. Best always. PM

    • Rick Perkins

      You do not need not mention Islam as, according to this article, this issue has nothing whatsoever to do with any religion.

      “Deflecting blame for the current attack on “radical Islam” is but a canard obscuring the truth that these terrorists were created intentionally by the West, to fight the West’s enemies abroad, and to intimidate and terrorize their populations at home.”


  30. Pierre


    As always, amazing, informative guest and interview. Jim Sinclair did report on a KWN broadcast years ago about this 1.4 quadrillion BIS pegged the derivative exposure.

    I’d love to see a round table with the following guests as I am sure others would :
    Jim Sinclair, David Morgan, Rick Rule, James Turk, Eric Srpott, Jim Willlie and Jim Rickards. Although I think you would need armed guards between the mentioned last 2, as I think they do not see eye to eye.

    • Mike

      Now that is a pay per view event I would pay big money to watch.

      I’d love to see a round table with the following guests as I am sure others would :
      Jim Sinclair, David Morgan, Rick Rule, James Turk, Eric Sprott, Jim Willlie and Jim Rickards. Although I think you would need armed guards between the mentioned last 2, as I think they do not see eye to eye.

  31. Spanky

    Morgan is a first class guest !!

  32. Klemens

    some explainig on english about the german demonstrations:
    Explaining Pegida to the World

  33. JC Davis

    When oligarchs argue people suffer. When they fight people die. Greg I think William black has a good view on the effects of low oil. Are you going to have him back soon?

  34. Tommy

    Whether oil is being dumped to trash Russia or the shale industry, or both, it’s clear; there is plenty of supply and the game is rigged. So much for peak oil.

  35. Colin - 'the farmer from NZ'

    I watched Ross Ashcroft’s awesome documentary, FOUR HORSEMEN, again last night and was truly struck by his closing narrative which I will take the liberty of quoting. It is the most profound truism I have heard in my entire life and I feel that it is very close to much of the discussion here on WD with Greg’s guest’s, followers and commenters .
    This utterly compelling statement tells us loud and clear that WD’s efforts are not in vain. Forums and think tanks like this could indeed ultimately be important to the very survival of the human species.

    “Revolutions are philosophical.
    Getting organized and preventing the culprits camouflaging the real problem means it’s possible to embark on a bloodless revolution against the violent organizations and barbaric leaders who’ve trashed the economy. Central banking, rigged capitalism, land speculation, income tax and neo-classical economics have corporatized democracy, stunted progress, perverted the course of human destiny and compromised the future of this planet. If these issues aren’t addressed then the next implosion will be on a scale unimagined.
    Whatever the propaganda at the beginning of the 21st century central banks unregulated cheap money and pumped up land values, which created an unsustainable asset bubble in a world that once again operates a rigged tax system that enriches privilege. Neo-classical economics have ruined life for the bottom billions, tempted everyone into intergenerational conflict and created massive suffering that has no limits.
    Human beings go mad in crowds and come to their senses slowly and individually. History is littered with examples of people who threw themselves off the yoke of oppression to adopt radical change, only to end up with popular new rulers that maintained the status quo. To really understand something is to be liberated from it. Dedicating oneself to a great cause, taking responsibility and gaining self-knowledge is the essence of being human. A predatory capitalist’s truest enemy and humanities greatest ally is the self educated individual who has read, understood, delays there gratification, and walks around with their eyes open.” – Ross Ashcroft

  36. Wim

    The markets are manipulated, that’s a no brainer. Stating that in a public position gives the risk of getting ridiculed. Of course the fruit machines of the financial system are weaponized with software to fleece the gamblers.

    Personally I think Peter Schiff, Mike Maloney, and so on are most right, but a good thing trying to find where they might be wrong, growing the understanding of the system and the dynamics of it at the same time.

    The end of 2008 a contact of mine told me a story, I didn’t take for true, but kept it in the back of my head. That contact never told me strange stories whatsoever before, and I know he circulates in interesting circles.

    He told me that a network of wealthy good guys at the time of the crash approached the Dutch secretary of treasure (financial minister). They informed him about the system, clarified him why he had to rescue the system, clarified him about evil forces in the system, as he was ignorant about the system, which I tend to believe. At the same time they subtle indirectly pointed out very seriously that he wouldn’t like to go against this network. Wouter Bos, the financial minister, was the first in Europe who saved the banks, as the rest of Europe followed suit. After that Washington DC followed. After the crisis that financial minister left politics unexpectedly, as his political career was a promising one.

    I kept it in the back of my head. It reminded me about the conspiracy theory behind the Federal Reserve act of 1913, and the sinking of the Titanic. On the internet the story goes about the Federal Reserve act of 1913 was getting rushed through Congress on Christmas eve, not many members present, some corrupt, some ignorant. The conspiracy theory stating that a warning message to the Titanic was sabotaged by The Big Criminals. On the Titanic there was a group of wealthy good guys knowing about the Federal Reserve act, wanting to oppose it.

    Washington DC produced the figure of 700 billion usd. When I was running my imagination on the story, I thought ‘well if that story is true, it’s kind of an 007(700 billion) intervention’. I never heard that story again, never saw it on the internet.

    The Dutch are not that courageous, so in that perspective I could see truth in that odd story. As Holland was the first domino falling in the chain event of rescuing the system, as Europe followed suit, and in that scenario president Bush being reluctant, or not willing at all, Washington was the last domino falling in the rescuing game.

    If true this network bought time for the world to prepare, but main street is not waking up. I can see the simulation in my mind that The Big Criminals wanted a complete meltdown of the system, to have ended the world as we knew it by 2012, celebrating the 100 year anniversary of the Federal Reserve.

    Let’s hope the meltdown will be a gradual process, devaluation by devaluation, or something. Russian citizens holding PM’s circumnavigated a devalued rouble.

    So, place your bets ladies and gentlemen, ‘rien ne va plus’, as that moment one day might arrive.
    May the view of the founding fathers of America go viral one day, and Love and Honesty be the Dictator.

  37. FreeOregon

    Didn’t Obama just take credit for pushing down the oil prices to punish Putin?
    Will he also accept accountability for the resulting derivative implosion?

  38. stevor

    The banksters will gamble away on derivatives, lose hundreds of billions, with what Congress is now allowing that to happen. There will then be a bailout of the banks and maybe then the whole financial system will collapse with the rulers buying up everything from the desperate peasants and then those who didn’t lose it then, they’ll be outlandishly taxed until they give up.

    Voila – communist manifesto (for the people) but of course the rulers will live like kings.

  39. Mouse Click

    David Morgan predicted a beach ball effect with the price of silver. Well, last night I purchased a locally produced 10oz silver bar, and it is now on back order. The bullion dealer is good, where the silver is usually dispatched the next day. I think the supply of silver is starting to tighten up, so get your metals while you can. No I am not bullion seller, just a regular customer.

    • Greg Hunter

      Thank you for the street reporting Click!!

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