Panic Exit Out of Currencies & Into Gold & Silver-David Morgan

4_jpgBy Greg Hunter’s

Finance and economic writer David Morgan thinks the global economy very likely could take a sudden turn for the worst.  Morgan says, “There is going to be a panic buy into the metals, and there is only so much to go around. . . . The way things have gone from the 2008 financial crisis until now have only gotten worse. . . . I don’t think we are going to have a hyperinflation, but what I do believe is there will be a panic exit out of currencies.  That event will cause people to run for the most trusted money that exists, and that is gold and silver.  The other thing is you cannot have currency anymore.  That is a double edged sword because if you can’t have currency anymore . . . people will think if I can’t have currency anymore, guess what I can have?  Gold and silver, and they can’t get around that. . . .People that can think will go to the money of all time, and that is gold and silver.”

What could cause a sudden panic?  Morgan speculates, “One is some event in the bond market that people don’t see and most likely it is the U.S. bond market, but it could be in the Yen. . . .  Japan is so illiquid, and they have gone to basically the hyperinflation route that it is only a question of time and could start there.  It could start anywhere.  There is a bunch a kindling all over the bond markets, all over the debt markets all over the world, and one match could light it off.  I really don’t know where it is going to start, but I do know history teaches us that once the confidence is lost, you can’t get it.  That’s what this game is all about.”

Earlier this year, Morgan said he thought there could be another economic meltdown this fall, and he’s not backing off.  Morgan explains, “Part of it is the seven year cycle in the stock market, and seasonality plays strongly in both the metals and stock market.  September/October is the time frame where you get a falloff.  The stock market is so overvalued it has no relationship with physical reality.  The physical economy does not match what stock prices are at all–not even close. . . . The mainstream media keeps saying things are good, and all people have to do is look out their window.  There is a trigger mechanism and it’s what I call financial survival instinct. . . . You cannot stop reality.  The reality is we are in a debt based economic system in a scenario that has never happened before. . . . When this thing busts, it will make the 1930’s look like a warm-up parade because it will not be centered in Europe and the United States.  It will be China.  It will be India. It will be Australia, Europe, the United States, Canada, Mexico and South America.  It is going to be everybody.”  Morgan goes on to point out, “It’s all about trust, and now these big banks don’t trust each other, and that was the same problem in 2008.  They did not want to accept each other’s paper because they didn’t trust it.”

On the gold price, Morgan says, “If you look at the ‘true money supply’ . . . and basically, the true money supply is the money in checking accounts and savings accounts . . . then, you take that and divide it by the amount of gold the U.S. Treasury says we have, which I question, and you come out with $10,000 an ounce gold, and that is without any credit being available.”

Join Greg Hunter as he goes One-on-One with David Morgan of

(There is much more in the interview.)

After the Interview: 

David Morgan is in the process of rebranding his website to from  There is free information and analysis on the home page, and he has a subscription newsletter.  Click here to get more info on subscription prices.

  1. edbrad

    I’m curious to lnow how a precious metals expert can hold forth publicly on the persistently narrow price volatility of gold and silver and omit mention of market manipulation through “nekkid” short selling (see, e.g. Paul Craig Roberts, et al.). Doesn’t this guy watch USA watchdog?

    • Calabash

      Very recently from an online video, I heard a government witness at some Congressional inquiry say that there is NO GOLD. Someone off camera must have asked him to repeat it, and he did so. Oddly, no one took the comment any further. I have heard this reported several times in the past year, and that other countries are demanding their gold be returned to them but are being refused. As for myself, I doubt seriously there is any gold remaining. The “Black Budget,” the huge military-type purchases, the underground bases (DUMBS), so many costs that are kept from Americans, the money has to come from somewhere …. why not Fort Knox?

      • JC Davis

        Calabash. Some time back I read a comment on this site It may have been (Paul from Indiana) PFI anyway he said when gold is ordered for jewelry it comes from the reserves, and has for many years. That is when I realized the gobernment will seize gold when hard times come. Better to own silver IMHO. Jc.

      • Brewmaster

        The money does come from somewhere, but it doesn’t have to come from gold sales. The treasury can just print it up.

    • Logo Guy Perth

      I am just a humble Perth logo designer, but here is my take.
      The truth is that the gold and silver price will be wherever the crooks want it until they can’t hold the force of the market back any longer. Having guests on who talk about charts and elliot waves and supply and demand are a waste of time. We all know this crooked market place is going to hit the wall. We just don’t know when because we are not one of the crooks on the inside. All you can do is to be prepared and be willing to wait until the inevitable happens without getting stressed about whether it is June, July or August. Every day is a day longer to prepare. Spend the time doing things that can help your family and friends, not trying to pinpoint the right time or the right hour.
      The American Express president died this week mysteriously on a plane. I am betting suicide based on the other 83 dead bankers. Apparently the NASA scientist list is growing as well. You have no real control over what is happening nor do I. Just do the best you can to prepare. God help us when China can do as they please!

      • Silence is Golden

        “God help us when China can do as they please!”
        Aren’t they already doing as they please ?
        Who is watching over them…the IMPOTENT Anglo – Americans, Russians, Europeans ?
        Someone let the Dragon loose !!! 😉

  2. Jim G

    All these interviews and the remarks the interviewees are making are meaningless with regards to buying gold or silver. It is analogous to being on the Titanic and having a discussion of where is the best place to be on the ship after it hit the iceberg.

    In other words, if you are in the wrong country when the SHTF it is not going to make any difference if you are holding currency, gold, silver or wampum. You are screwed.

    Really, do any of you understand what is actually going on today? This is not just going to be an economic/financial/currency collapse that you have to ride out for a few months and then things get back to normal.

    A number of primarily western countries are headed for total collapse which will include a massive reduction in their current population numbers and the US will be the hardest hit. A number of sources are predicting up to 90% of the US population will be gone in the coming years and this will not be due to migration to greener pastures.

    On the other hand, some countries will survive and prosper, mainly in Asia and South America, but those countries allied with the US will suffer and pay the price for being on the wrong side.

    It’s time for all of you to wake up and see the writing on the wall. Stop believing you can prep for what will be a multiple disasters that will be both ongoing and relentless. There is nothing you can store or safeguard that will prepare you for what is coming. You’re only chance is to get out not, if that is even possible.

    • Silence is Golden

      This is an interesting take on the situation ahead with collapse and depopulation being the course du jour.
      Scroll down to read the commentary. Keep an open mind.

      • J C Davis

        SIG They killed themselves by psychological factor. We don’t here much about the misery index anymore.

        • Silence is Golden

          Notice the devastation in the US population !! 🙁
          Tell me that this is not a “known” by TPTB.
          This is true destruction on every metric one can think of.
          The immigration working in reverse is absolutley startling also (although not clearly defined as such through the numbers). For those that choose to follow this path as opposed to escaping the death spiral (metaphorically) to those who have decided on remaining loyal ??…the psychology will evenutally take its toll on those who hold false hope. The Great Levelling is well and truly upon us. There will be no turnaround. It progressivley gets worse from hereon out. The Local, State and Federal Governments know this. The statistics are BS. Unfortunately 99.9% of the population are still living in denial … as are all the political class who are incapable and unwilling to make the required changes. This country is an economic and environmental disaster.

    • Jerry

      I totally agree. There is no way to predict the outcome of something that has never happened before. By my way of thinking, your best bet is to get right with the lord.
      I have been a survivalist most of my life (living in the woods) and I can promise you with 100% degree of certainty that our chances of survival are slim to none. Having food storage is one thing, fighting off an angry mob in the dead of winter with no heat is quite another. Most will die of disease or infection before they will ever get a chance to cash in their gold. By my calculation very few will actually have the skills to make it through the first 90 days. I hope to god I’m wrong, but according to Jim Rickards its going down this month.

      • J C Davis

        Jerry I always get two different views from Jim Rickards. I am not a big fan of his. Four days back he shows no great alarm concerning Greece.
        He make a good point that the FED has backed itself into a corner.

    • susan

      I believe that those of us who live out in the middle of nowhere and are fully dependent on God almighty will be quite ready for whatever comes our way with our prepping and continuing our way of life.

    • woody188

      Wrong. It’s a global collapse. There is no safe haven. Period. I’d rather starve with my fellow Americans than be the one tall white guy surrounded by rioting Asians/Hispanics calling me the white devil and jabbing me with their pitch forks.

      • Galaxy 500

        Amen woody

      • susan

        woody, you are correct, but I didn’t explain clearly. My group is in America and we are abundantly prepared from water to gold and everything in between. Also, if things really go south, we have Plan B and Plan C

    • Alarmed

      Panic is not going to help anyone. First, the 90% reduction in population is the propaganda of exclusive 1% “club” members. It is the threat they have been spewing for years; it is even currently on some chunks of rock in Georgia. They have been working very hard on making their threats come to fruition for many years. You just have not noticed.
      Prepare yourself spiritually, physically, and mentally. Repent and get right with God. This is the best anyone can do. God will not be mocked. Those who do have chosen poorly. The Bible makes it clear.

    • NC Gal


      I generally agree with you in terms of what is coming. However, if you are in or anyone is thinking of moving to any country that has signed on to Agenda 21 (see list at, forget about living beyond the culling that is going to take place if the elites have their way. In the US, there is already a program in place called America2050 whose name gives you the year by which it is planned to be complete.

      I posted several links at the bottom of the last WNW thread ( that you might want to look into. Note how many countries are in the region you identified as being “safe zones,” including China. They will all be depopulating, too, unless stopped by other forces. The data given in “Mass Dreams of the Future” suggests that the depopulation takes place across all timelines, so “no hidin’ place down here!”

    • sk

      Well, tell us , Jim G., what will be the mechanism of the 90% population demise? Starvation? Nuclear fallout? Infectious disease? I have a problem with vaporous and vague doom-despair-destruction posts. Can you be more specific? How? By whom? Accidental byproduct of human stupidity? Malevolent and intentional?

  3. Red

    Hi Greg, I have been following David Morgan and Mike Moloney
    for over 10 years now. I would not know what money was accept
    for these 2 gentlemen. I personally want to thank them both. They
    both consistently give people real knowledge for nothing!! Anyway
    my take on this is that your .Gov will be the first to panic! Gov mints
    are by far the biggest suppliers of investment product. They are giving it
    away! how are they gonna pay their armies , security forces with paper
    tokens? China and Russia have worked it out they have started panicking
    already!! Its’ only state apparatus in the west that haven’t quite worked
    out they might be in big trouble. You want an army …you have to pay
    them!! Rome found that no matter silver at $10 or $100,00.00
    an ounce there will be a moment when you wont be able to get it
    fullstop nada zip…JMO Thanks for the consistently great content

    • Art Barnes

      North Korea has an army and they don’t pay much, only food because their masses are starving for the most part. My point is our army may well fight who knows who, even our own, for the payment of a full stomach.

      • Red

        Art you maybe right about Americans fighting for a
        bowl of rice. But North Korea would have collapsed
        50 years ago without China and China would have
        collapsed without American jobs. I believe that there
        are good people in both the military and US gov and
        they will try to restore the faith of the American people
        and that may involve jail time for the people who
        have caused this catastrophe. Anyway thats what
        I pray for.

    • John

      While that may be true it’s the last thing we want to believe because it is such a hopeless scenario. Most people in this country cannot go anywhere. That being said, I often visit the dying,band when they pass I sometimes think they are the fortunate ones.

      • Greg Hunter

        If I might add. I don’t think there is going to be few safe places in the world. Catherine Austin Fitts thinks the same thing.

        • Paul from Indiana

          Get enough like-minded individuals together and MAKE a safe place. To paraphrase Hemingway’s character in “To Have and Have Not”, one man alone has no chance. Survival is a mirage. “For as in Adam all die.” Make it count. Best always. PM

  4. CrazyCanuck

    Hi Greg. I think David and so many other of your guests are being consistent in their message as to why this sham market & economy has persisted — confidence. The masses have confidence in the MSM and “our way” , but those paying attention are much more skittish, and watching for signs that the tide is turning. Call it normalcy bias or denial, but the house of cards depends on it.

    On that note, I just noticed in our ( Canada’s ) big daily newspaper (. The Globe & Mail ) an article about an OECD ( Organization for Economic Co-operation & Development ) report outlining the troubling economic news going forward. Quite the change from the ” everything is awesome ” narrative the financial industry and it’s whores the MSM has been screaming for the last near decade.

    Whether the West starts to shift over to ‘the gold is perhaps not evil incarnate ‘ message remains to be seen … and another sign I reckon.

    Keep up the good fight Greg, your drive to bring us truth and awareness is appreciated and valuable.

  5. WKSwanson

    Too bad David Morgan is so shy about speaking his mind.

  6. Andrew Maggard

    Just taking this inflation potential to a logical conclusion brings to mind a scenario that occurred to many during the inflationary period of the Weimar Republic where many held wealth in such instruments as whole life insurance, when the currency inflated the face amounts of those insurance policies became worth less as inflation increased. The point that Mr. Morgan makes involving holding at least 10% of your portfolio, wealth in precious metals makes all the more sense. As is emphasized in any investment plan, diversification is an attribute. To take this line of reasoning a step further, reflect upon the price currently paid for pre 1965 U.S. silver coins, a very striking example of the inflationary trend. As Mr. Morgan emphasized, gold, silver represents natural money, who can deny the virtue of natural law, both natural law and natural money represent a soundness of law and commerce that should be self evident.

  7. paul

    Did anyone ever think about this sequence of facts … very interesting stats to my mind!

    Back in 1980 “after” the Hunt Brothers acquired 100 million ounces of silver … the price of silver rose to about $50 dollars per ounce … eighteen years later in 1998 “after” Warren Buffet acquired 100 million ounces of silver … the price rose to about $50 dollars per ounce … eighteen years from 1998 brings us to 2016 … and this time around JP Morgan Chase is the now accumulating silver … but Chase is accumulated a quantity of silver more then “three times” the 100 million ounces acquired by both the Hunt Brothers in 1980 and Warren Buffet in 1998 … so I ask myself what does this portend? Will the accumulation of silver by Chase of 300 million ounces create a rise this time about “three times” the $50 dollar peak reached in 1980 and 1998?? … I don’t know … only time will tell … but by connecting the dots in this manner might be an indication we can get a silver price close to $150 dollars per ounce as soon as 2016 (and using a conservative Gold/Silver ratio of 35 … implies $5250 dollar gold)!

    • Art Barnes

      In any event, a rise to the price of mining silver, otherwise known as the cost of production) is certainly in the works, that amount alone would make J. P. Morgan Bank an extremely handsome profit and large stock rise. Doubling down and buying gold while the price of silver goes up would quadruple the profit and make J.P. ready to try and be the last man standing in the upcoming banking collapse.

      • paul

        Russia will be right up there trying to best JP Morgan Chase … Russia just announced they will be increasing their gold reserves by 40 percent …

        • Smaulgld

          Paul Russia is NOT increasing their gold reserves to $500 billion
          They are increasing overall reserves to $500 billion
          Currently they have $69b of their $357B reserves in US Treasuries and and $50billion in gold
          Too much shilling going on in the precious metals alt media and on a Pct basis as many “sheeple” willing to believe as there are that listen to the main stream media.

    • Smaulgld

      Paul there is ZERO evidence that JP Morgan has 350 million ounces of silver

  8. Russ

    Thanks for the great interview Greg. David Morgan gives a realistic prognosis of the situation and a practical solution — 10% is not a lot for anyone concerned. It is simply good advice. Interestingly, Egon von Greyerz (another of your guests) also talks about $10,000 gold (in today dollars, not hyper-inflated).

    We don’t know what we don’t know and many times we have heard people who have a pretty good handle on the situation remark that they are surprised it hasn’t “exploded/imploded” before now. But these market analysts are thinking rationally and not necessarily with the same mindset or priorities as the people in charge.

    Thanks again.

  9. Vince Shook

    In reference to how long this currency/debt fantasy can go on, I would reference the ratio of debt to GDP. The U.S. ratio is currently around 100%. For Japan it is around 250%. We have a long way to go my friends, unless an unexpectedly negative currency event involving the dollar happens. With dollars/US bonds held as capital reserves by all the major countries of the world, which one(s) would slit their own throat(s) to bring this about – and towards what purpose? This could take generations to play out, as our American standard of living is slowly cooked like the proverbial frog.

    • Art Barnes

      Good thought, but generations it won’t take, but I will buy longer than this fall, a while anyway, but history is full of “all of a sudden” things, WWI comes to mind but that did take about a generation or so for the triggered event to explode. Remember we have been at this since 1972 when Nixon took us off the gold standard for sure, 40 years prior to that Roosevelt started it buy inflating the ounce price; my point is we have had about 80 years now of this fiat confidence game so who knows how much longer till the confidence erodes, one job loss, one mom & pop store on main street loss, another minimum wage job added instead of a living wage, and one more reader of alternative media like this one at a time until the light turns on and the cock roaches scatter with their bills of worthless numbers printed on them won’t buy shoe laces.

    • woody188

      Seems to me the only reason Japan is able to have a 250% ratio is due to being a net exporter of goods. I wouldn’t expect the US to be allowed to go to such a high margin as the USA us a net importer of goods.

  10. Rob

    Hi Greg!

    You asked a very good question at 25 minute mark that encouraged David to give the whole reason why Jade Helm declares both Utah and Texas hostile states:

    Its the same reason our government declared war on countries such as Iraq and soon Iran. Selling oil for gold was a no no and so is declaring gold and silver money like David proved Utah did first and Texas is about to do in the rest of the interview.

    Once the next 7 year cycle that starts this fall is over a Jubilee comes where we will watch those who only put their trust in gold and silver casting it into the streets:

    Ezekiel 7:19 They shall cast their silver in the streets, and their gold shall be as an unclean thing; their silver and their gold shall not be able to deliver them in the day of the wrath of Jehovah: they shall not satisfy their souls, neither fill their bowels; because it hath been the stumblingblock of their iniquity.

    Please put your trust in the Father and His Son Jesus folks:

    Love in CHRIST! Rob

  11. Chip

    Greg, this is OT but I thought perhaps of great interest to you and your readers. As I sent to my congressmen…

    DOD has officially declared this to be Department of Defense Lesbian, Gay, Bisexual, and Transgender Pride Month. As a 30 year veteran of the Army as a soldier and civilian I am officially ashamed of my country. We are modern day Greece. The rapid fall of the US over my short 55 year life span is being revealed in all its glory and is accelerating.

    This goes too far. I’m completely offended. I don’t care what anyone does in private but don’t shove it in my face. I don’t talk about my sex life in public and I don’t want to hear anyone else doing so. This should not be a Government sanctioned “celebration” or whatever else you want to call it.

    This is a distraction from all the bigger problems our Government faces with our budgets, debts, and ever expanding size and scope of Government. But it is just another signal that we are on the road to ruin. When LGBT concerns can be shoved in my face but we can’t utter the word “God” in public forum then something is terribly wrong…

    • Nick

      Going by what organised religions do and say, their level of obsession with people’s sex lives puts the government’s in the shadows.

      I quietly put up with a multitude of religiously sanctioned ‘celebrations’ every year, can’t you do the same for this one? It isn’t affecting you personally in the slightest.

      • Charles H.


        The LGBT agenda is ever so much more repressive than most believe. And I must disagree that it isn’t affecting me personally – as it threatens to become oppressive through government agency.
        Read and weep… WD-ers

      • Diane D

        Nick, it is called American culture and Constitutional government. Like it or not, our country was founded on Christian principles. Our Founders celebrated Christmas and Easter. They abhorred homosexuality and self-mutilation. I do too. But God can sort that out.

        Sadly, Chip is correct that the country has been destroyed from within. Hope lies in what arises from America’s ashes. I’ll cling to the Bible and the Constitution. Others can cling to Rules for Radicals and Vanity Fair.

        • susan

          diane you get a thumbs up!

    • Silence is Golden

      TPTB have ulterior motives.
      The question to ask is why would they intentionally “soften” the armed forces…to which this is aimed at ? Combat and “Killing” requires a definitive mindset. Even more so when the “enemy” is not really an enemy.

    • woody188

      They exalt criminals and degeneracy and decry morality as “close minded” or “bigotry.” The torture, rape and murder of a family is called a simple mistake. Insanity rules the day.

  12. dbcooper

    Greg, David was cutting out some and at minute 27+/- he gave at contact site for the PM backed Debit card … can you give us this site? Thanks DB

  13. cole

    Hey, Greg. My family and I enjoy and appreciate usawatchdog. I have encouraged others to visit, but most people with which i speak are only concerned with Facebook and sports.

    In light of world events, we are considering selling our home and taking the equity to buy metals and a less exp house. In your opinion,
    Would it be best to buy less exp house or just rent for the rest of this year,
    A kind of wait and see approach?

    You and your site are such a bright spot in an otherwise morally and ethically corrupt world.

    You help me to keep my eyes and heart
    focused on our Lord Jesus Christ.

    Be safe and fear not,

    • Greg Hunter

      Thank you for the PR.

    • Art Barnes

      Getting out of Babylon the Great if you can might not be a bad idea either as well as taking some gold with you.

    • Shawn

      I would be interested in Greg’s thoughts on this (or anyone elses)….

    • Ricardo Picardo

      Personally, I like the asset diversification approach to protecting your wealth. A house is a good way to diversify your wealth. Gold and silver are great, but like David Morgan said, he never advocated putting all of your savings into it. What you’re doing sounds a little too speculative. Downsizing to a smaller house is fine if you simply want a smaller mortgage and believe you will enjoy the new (smaller) house just as well as your current house. But I wouldn’t sell it simply to speculate on precious metals. House prices would also go up in value in hyperinflation, think about that.

  14. Muhammad A.

    “If you look at the ‘true money supply’ . . . and basically, the true money supply is the money in checking accounts and savings accounts . . . then, you take that and divide it by the amount of gold the U.S. Treasury says we have…”

    This is assuming we are on a Gold Standard which we are not. We changed that to an Oil standard decades ago and have now even dropped the Oil standard. Even the Saudi’s are getting out of Oil and going into the Solar Energy Industry. The dollar is now backed by our Military might which controls the resources around the world. No one in their right mind will go against us on that level. We can keep producing arms and ammunition to kingdom come and selling it as we did during WWII. Gold and Oil are Old News! We cannot continue to base anything off of it anymore. Yes, people may start running to Gold and Silver, but guess what? The Gov’t can come to your home and confiscate it as they did under Roosevelt with Executive Order 6102. Don’t think they will do that if needed? They already had a meeting to End Cash in London last week which didn’t make national news… likely to prevent panic by the public. They want total control and once they know people are hoarding Gold and Silver, they will be at your door.

    • Art Barnes

      Point well taken, factual, lucid understanding of what may/will become the “gold law” when panic sets in. Our patriot leaders will sell us out fast with the “gold law”, the cops will immediately come out and get it, not to mention picking up your guns while they are there, kill two birds with the same stone so to speak. Resistance will get you a free burial ride in one of their new armed burial dump trucks.

      • Chip

        NOT going to happen guys, get real…

    • paul

      Interesting Muhammad … first the dollar was backed by gold … then it was backed by oil … and next it will be backed by the Sun? … if they eventually do back the dollar by solar … instead of saying the dollar is as good as gold … I guess we will be saying the dollar is as good as the Sun (which I recently found out goes by the name Lucifer) … so will they eventually call the greenback “the Lucifer” ? … and how very fitting the “new dollar” the Fed is planning to distribute will be red in color… the dollar will finally achieve its true status … as the root of all evil!

      • paul

        Now with cash being the root of all evil … the upstanding and reputable banks obviously won’t want to tarnish their good reputations by having anything to do with something at the root of all evil … so that is probably the reason they will give us … for doing away with cash!

        • Galaxy 500

          I seem to recall it was love of money…not money itself

          • paul

            Galaxy … the “love of money” is not evil in and of itself (God loved Satan) until he got rid of him for a good purpose … we do the same thing with evil money (getting it out of our lives) by giving it to charities or spending it on necessities … but realize we are dealing with something created by bankers … can bankers create anything good? … at least God’s money (gold and silver) is “difficult” to manipulate for evil purpose (but it can be done ) … but banker created fiat money “evil in and of itself” has the inate ability to “easily” inflict great suffering … this is why China and Russia want to get rid of the stuff!

    • Ron Weiss

      I think you summed up NICELY what all the major geopolitical forecasters have been saying all along. I’ve listened to several of them (as you need to do to get a global perspective) and my thoughts are in tune with what you posted here.

  15. Al Hall

    Greg: Poor skype connection- had trouble understanding Davis at times.

    I thought it interesting that Texas and Utah were mentioned about 2/3 the way through.
    In the upcoming Jade Helm 15 martial law exercise Texas and Utah are both considered ‘terrorist states”!! You both touched on this without realizing it?
    Many people still haven’t heard about Jade Helm- better google it- as the normal communist media doesn’t talk about it. This media silence is golden and tells you something evil is being planned by Obama and his gang to thugs.

  16. Ron Dotson

    Is there any chance you could get Harvey Organ back on your program to explain what happened with the Shanghai Silver Exchange? In spite of his idiosyncrasies, I’m sure Mr. Organ is a smart fellow and a rational person, so there must be a rational explanation for his failed projection that the Shanghai Silver Exchange (I think that’s the name he used) would run out of silver before the end of last year (2014), causing runaway silver prices. It apparently didn’t happen, but why not? Were they able to purchase more silver?
    Thank you,
    Ron Dotson

    • Greg Hunter

      I have invited him back several times and no luck. I think he will be proven correct, but of course, his timing is off.

  17. southern girl

    Wonderful interview and I am with David Morgan when he talks about exit stage right. These people who do this for a living help all of us who do not have the expertise. Thanks for a wonderful job Greg.
    A tid bit in our newspaper in the financial section. Some of the Wally World people are going to get a raise. But at what cost? When you make a trip to Wally World, Kroger, Home Depot, etc. they have self-help lines. So lets see, we give our employees a raise, but we eliminate jobs. We have seen it here with the older people who use to greet you as you enter the store. Where are they now? Gone!!!
    I saw this when my older brother worked for Hewlett -Packard. They had an office and then they said , “We need you to work from home to save money.” Well then he lost his job and moved down south where we are and worked until he just could not take it anymore and retired.
    Secondly in the paper this morning is said JPMorgan drops employees voice mails. They sight that, “We realized that hardly anyone uses voice mail anymore because we’re all charring something in our pockets that’s going to get texts and emails or a phone call.” About 65% of employees with voice mail had it deactivated.
    I know most of us on this web site are about the same age. We are Baby Boomers in our early 60’s. I don’t know about you but I have never sent a text. I use to tell my students it was against my religion, just to get a laugh. In some instances text messaging may be helpful, but in my (old) world I want to hear someone’s voice and tone. I thing it quite a reversal (demonic) to use words over a contraption instead of hearing their voice. Call me old-fashioned but I will freak out if they drop the flip phone. I don’t need all the bells and whistles they say you can do on your IPhone (binky). I want to stay grounded and not distracted as to what the latest stupid thing is. We are still setting our sights for D-Day, September 13th. Making sure we have a back up to the back up for food, gasoline, water, etc. We have purchased firewood for the winter to be delivered later on. Think with all the earthquakes it changes the tilt of the world and therefore our weather pattern. I think our winters will be colder and longer in the south.

    • paul

      S. Girl … remember the story of Atlantis … well the scientists at CERN are taking big chances smashing beams of protons together as they may “accidentally” create more then they bargained for … trying to create and bottle “anti-matter” can result in an explosion large enough to push the Earth into a different orbit … think about the “climate change” that will occur if that happens … Obama keeps telling us “climate change” is the single most dangerous security threat to this nation (and that it is inevitable) … so why don’t these CERN scientist simply begin reading the Bible to determine the structure of the universe … it is a lot safer … right now they are like children playing with “fire”!

  18. Andy

    Greg, David Morgan has had huge egg on his face after saying there was no way silver would go below $30 back in 12 or so. At least he is now saying he has no clue, just that long term trend is higher. I think we all agree on that. Even Harry Dent says the metals will explode after a flash crash. Personally we are all stacking here and don’t give two craps if it (silver) goes to $9. If it does, we will do back flips and stack triple time. A guy
    you need to read is moneygreedfear- Veas. this guy has been on.

  19. Michael

    Another great interview Greg,

    I think David Morgan explains what is happening better than anybody. When he said the system relies on the “confidence” of the public it reminded me of “confidence man” or “con man”… someone who gains the “trust” of the “mark” and then robs him of as much as possible. I think the whole world is has been forced into the biggest con game in the history of mankind! The bankers are the “con”, the politicians are the “shills” and the public is the “mark”!

    • Greg Hunter

      Thank you Michael. If people wake up they don’t have to be a “mark.” Your analysis is spot on sir.

    • Art Barnes

      And… the police are the enforcers of the game…

  20. Bob

    Greg, Thank you again for another good interview with David Morgan! Your questions of him were very good. I have to agree with him 110% on all his opinions of what is going on in the world today. I just got back from a trip from Asia and I spoke with many knowledge individual in several countries there and they all seem to know the system is over, one high level individual with the ” Asian Development Bank” was shaking as he was talking to me. The world as we know it today is over. God Bless you Greg for all you good work, keep it up!!

    • Greg Hunter

      Thank you Bob for the comment and intel. If you don’t mind, what kind of business are you in?

      • Art Barnes

        Maybe in the business of rational thought, a man who thinks instead of letting the MSM inform him what his thought should be.

        • paul

          Right on brother … to change the world we need more people willing to make an effort to use their own brain instead of “taking orders” … all wars, killing and murder are between men that simply “take orders” … that is why the military always “purges” their independent thinkers!

  21. Jack

    Morgan makes a lot of sense for a “thinking ” guy; however, the problem is that most Americans and many Europeans don’t think at all, and wouldn’t know an ounce of silver from a bottle cap. The Bankster media machine has pulled an all out assault on rigging the prices , which they will likely be able to do for awhile yet. it is a scorched earth policy, and so far it is working. Like Morgan says, markets are driven by emotions , because people are stupid and only chase what is “moving” they would rather buy some stock with no earnings as long as the FED is there pumping it up…… The sheep no nothing about VALUE. The biggest concern I have is that WHEN the whole house of cards collapses, the sheep will still be too ignorant to know that gold and silver are REAL money ( most of them don’t even know what a FED reserve note is or how it came to be). the other problem is that 99% of the sheep are broke and don’t even have the fiat to buy the metal if they wanted some. they could only use what is left of their 401(K) $$ to buy some GLD or SLV , but of course everyone here knows that those vehicles were designed b y Janet Yellens’ husband in order to increase the paper supply of gold and silver, so when you buy one of those, you are actually helping to short the price of gold ( if you don’t believe me go read the prospectus carefully)

    I believe the intent of the banksters is to try to run gold and silver off the face of the earth from a psychological standpoint . most gold and silver investors have already thrown in the towel. the intent is to keep gold and silver at or just below the cost of production , to also keep the mining stocks in check. When the SHTF they will nationalize the miners, or have a huge windfall tax on revenues, so PHYSICAL is the ONLY way to go…. and you need to keep it where YOU know where it is and NOBODY else. This foreign gold storage stuff is a joke and no better than paper gold IMO. when the flag goes up you will only own what you have in your possession and can protect . That means pay cash and shut your mouth , when things go to hell you will be able to trust no one.

    I feel bad for David as he has to pull back on his comments as he knows that the whole market is rigged. he doesn’t want to be seen as what the sheep call a “conspiracy theorist “which can kill your business , but in today’s world conspiracy and criminal activity are the RULE rather than the exception .

    One final thought is that we know the elites are desperate here, to keep this game going they have to run around the world snatching other people’s gold in order to give the “market” some sense of credibility, they have stolen Iraq’s , Venezuela, Libya, and Ukraine’s gold , in fact that is the very first thing they do when they invade these defenseless countries. Our government is a total fraud as is the EU . Things are pretty bad when we see that Vladamir Putin is the defacto leader of the free world and it is because of him that we are not already in a thermonuclear war

    • Dolly dagger

      Spot on comments Jack. I agree, most people have such normalcy bias that refuse to see past their noses. I hope Greg can keep this site going ( and the few others out there) indefinitely as its a haven for those of us who yearn for truth and freedom. Peace, DD

    • Evan J


      Well said my friend. You are spot on at every point in what you say IMO. E.g., Drives me around the bend when I hear people on MSM saying (and people – sheeple -still believe without actually doing any research) that Putin is the aggressor in the Ukraine. It’s a good thing he is such a cool customer, more so than anyone in the west would be if a neighbouring government was overthrown, 35 tons of gold flown out the same night, and the aggressors wanting to point missiles at their capitol. It should say something that a 34 year old central banker was installed as the interim Ukrainian leader. Can someone spell ‘puppet’?

      Anyway, well said on your part.


      • dee garmon

        Well said my friend. The chances of Ukraine joining the EU are even
        less than that of Turkey. Yet, the price they paid for their European
        aspirations is out there for everybody to see.
        As Bismarck put it ” Every country is ruled by those whom they deserve”.

    • Chip

      Nailed it Jack…

    • Colin-'the farmer from NZ"

      You absolutely nailed man!
      With it’s shocking leadership and criminal behavior Washington and the AAA has degenerated into a huge threat to the very existence of mankind.

  22. Ronnie Lester

    I don’t know what to think about precious metals.
    David Morgan has his opinion and Bill Holter has
    his opinion and just got done reading Rick Akerman
    and his call for $817 gold. I think I will hold off on
    buying gold and silver because there are so many
    conflicting opinions. Thanks for all the great interviews

    • Jack

      Ackerman is FEd mouthpiece . think about what would happen at $800 gold? every bank and anyone with a brain , sovereigns, like India ,and Russia ,and China would buy it all up WAAAAY, before it got that far down.. and at that price EVERYBODY would stand for delivery and the paper scam would be over. They can’t let the “price” get much lower than the cost of production . ACkerman is looking at painted charts, ( painted by the FED themselves) and is happy to use them to help the FED? bankers AND THEIR LIES. LAST TIME HE CAME ON GREG’S SHOW , HE GOT BUTCHERED !!! I hope Greg d isn’t foolish enough to have him back again. ACkerman says the dollar is gonna run up to 120 and long term rates will be 1%…. how’s that working out for him. bottom line is the POG and silver are RIGGED …. Period. buy all the physical that you can get your hands on especially silver

      • Greg Hunter

        Rick Ackerman is not a Fed mouthpiece He is a pure trader. He’s been long on Treasuries for some time now and he has been correct on the direction of gold and interstates. I think he may have to change his thinking now though. By the way, I know for a fact Ackerman has consistently held a core position in both physical gold and silver. He may be wrong now but he certainly is not evil.

        • dill mann


          This is what Stockman posted yesterday:

          David Stockman @DA_Stockman
          A Deflationary Gale Is Storming Out Of China—–Can You Say Malinvestment?

          RA may be right on the money about deflation yet…


          • Greg Hunter

            I think we get both. And remember, deflation is a destruction of bonds and those bonds are held as collateral. What would be used as collateral if then bonds are impaired?

            • jack

              “And remember, deflation is a destruction of bonds ” Really Greg? I think you have it backwards. If there is deflation , then theoretically everything devalues against cash, and prices are dropping. so say you hold a 10 years bond paying 2%, in a truly deflationary scenario, the value of that bond would INCREASE not decrease. I think a lot of people throw the concepts of deflation and inflation around without fully understanding them. Freidman once said that “inflation” is always and everywhere , a MONETARY phenomenon , and that is what we have now in spades. The reason people are confused right now, is that the newly printed debt money is not circulating by design of the bankers , and so we are for a time fooled by the fundamental nature of the beast , because the lack of monetary velocity. What is happening now is that the Fed prints trillions of new dollars , which they then use to buy down Treasury rates and leverage that trade up via derivatives, but reason we have not yet seen massive price inflation ) as opposed to monetary inflation , is that by design , the bankers have been very careful to keep all of the newly printed money “in the family” and not let any of it hit main street. Now extrapolate a bit to see what their real game plan is and you will see that just like a game of “monopoly”, the crooked banker steals money from the til , but he is also a player in the game… in this case, it;s even worse as the money being created is debt based , and so it has no intrinsic value, and yet the criminal bankers will use it to buy/ steal all the hard assets that they can acquire with their phony money, while being sure that they don’t drive price inflation too much , because their transactions bypass the real economy. ( of course they will still create little “elites bubbles” of their own, like prices of condos in NYC which have tripled in the past 3 years, because that is one of the few pockets that the velocity of money is unleashed at this time) However, the rest of their purchases are more subtle, they are buying raw land, stock in blue chip companies, art, collectibles , and of course they are loading up with gold and silver on the cheap, as they are the only ones big enough to grab cheap gold from the GLD and SLV funds , that the little guy can not redeem because the minimum position in those funds to take delivery is north of $1m. the sheep’s money that is invested in those ETF’s is used to short paper gold to keep the price low for those rich enough o take delivery. Like I said before ,go read the GLD prospectus and you will see one of the most massive frauds ever perpetuated. The bottom line is that this whole thing is just a massive theft by these criminal bankers, and when finally the whole thing caves in , they won’t care , because they will own all of the REAL assets that they essentially bought with taxpayer debt based money that they created ONLY for themselves. It is the biggest heist in the history of the world and not one person in a million can see it…… oh and by the way , these guys won’t be satisfied until they suck every last drop of capital out of the system and so next up will be confiscation of all private retirement plans. Now if that doesn’t get the sheeple’s pitchforks out then nothing will. I doubt it though, as the sheep are more than happy to sit around and watch Bruce Jenner’s BS or some other diversion from their miserable lives, and will happily report to the FEMA camps as ordered as long as they can watch TV and eat Cheetos. Touqueville had it right in his book ( Democracy in America. 1835) the American experiment could not last. There is a faint hope still, but it can no longer be solved via the ballot box. We must have the courage to think like some of the founders and that means risking our lives , fortunes and soft lifestyles for something more important for the future of generations to come. Do you want to have your children live as slaves Greg? If not , then you may need to turn in your pen for a sword very soon before all is lost.

              • Greg Hunter

                Deflation is the destruction of debt. It is you that does not know what you are talking about. The cash you speak of are called Federal Reserve Notes (FRN), The term “note” means debt instrument as FRN’s are loaned into existence.

                • jack


                  ask your buddy Ackerman what happens to bonds during a deflation. he said so right on your show. he sees the “dollar” even though debt based going through the roof and interest rates going to 1% in a deflation. the FACT of the matter is that bonds will trade up in a deflation. Yoy are confusing the issue by adding in that the dollar is debt based, and are saying that debt is destroyed in a deflation . I think what you are trying to say is that the debt MONEY is destroyed in a deflation which is fundamentally something quite different. Ackerman is buying bonds here BECAUSE he expects a deflation. I don’t agreee with his general thesis , but on that point he is spot on.

                  • Greg Hunter

                    Deflation is debt destruction. This is text book stuff. I am not confusing anything. What happen to a portfolio of 10-year Treasuries you paid 1.7% for when interest rates spike to 3.4%? The bond is worth less–period. If you leverage this “asset” what happens to your base capital? Poof. I do not think you fully grasp the dire situation the global economy is in. There is nothing to compare it to in all of recorded history, and I am not being dramatic. We will have to disagree on this and I do wish you well.

        • Jack

          ok, fair enough Greg, but remember this is also a PROPAGANDA war for the minds of those who don’t understand what is going on. Ackerman should keep his bearish gold calls to himself, we don’t more people selling their gold out of ignorance from some “expert” who is clearly wrong. Also, trying to trade gold is impossible ( as is just about anything now unless you own the casino) . I guess I overreacted a bit about Rick being a mouthpiece , but when someone’s thesis is so fundamentally flawed I have to question their motives. BTW maybe Rick owns gold ,but I guarantee you that every member of the FED itself is loaded with it.

          • JC Davis

            100% correct Jack. when someone’s thesis is so fundamentally flawed I have to question their motives. BTW maybe Rick owns gold ,but I guarantee you that every member of the FED itself is loaded with it. I would bet he has a vault full of silver also.

          • jack

            you did not leave me a reply button ,so I sent this as a reply to my own e mail and hope you post it. In your hypothetical scenario you are correct that if you have a bond yielding 1.75% and rates go to 4% then you lose money on the bond;however, in a DEFLATIONARY environment , the textbook says that interest rates drop , not increase, so your 1.75% bond would likely find itself trading in a 1% or lower environment in a deflation , and thus the value of the bond would increase, not decrease. Fundamentally, interest rates would rise only during an inflationary period, and in that environment bond holders would get hurt, but you stated in your original thesis that bonds would lose value in a DEFLATIONARY environment, and that has never been the case in economic history… of course now , when all markets are rigged anything could happen , but fundamentally bonds increase in value in a deflation. AS for not understanding the big picture , I think you might want to consider that I am a Swiss bond trader and well as a licensed CPA in the US. If I was wrong in my thesis I would be flipping burgers at McDonald’s , rather than being a multi- millionaire

            • Greg Hunter

              All I can say is good luck holding paper with the $1 quadrillion in derivative counter-party risk (BIS statistic). I wish you well my friend.

              • jack

                who said that I was actually holding paper? I was trying to clarify what happens to bonds during a deflation based on relative interest rates. My point to summarize was that bonds go UP during a deflation and down during an Inflation . AS for me, I had a lot of gold and silver until the boating accident.

      • dill mann


        Correction, the last time he came on WD web site he educated and spanked a lot of people ( Jerry). Very few wanted to try to understand what his message was. I read two of the books he mentioned and let me say that I think he is right about a lot of what he is predicting.

        He had a tremendous impact on my thinking, and I now see things very differently….

        • J C Davis

          Dill Mann. Seeing the worlds currency is backed by nothing=0= how can there be a devaluation of zero. If it were backed by gold as in the 30,s there could be a devaluation crisis. Today I don’t see how there will be a devaluation of zero. In fact when the bottom is reached zero will be backed by hundreds of trillions causing a rejection of the dollar. By this I mean inflation. I have tried to see the deflation theory. Can you explain it better?

          • dill mann

            I can only refer you to the book by C V Meyers.

            It really needs to be read to understand.

    • dill mann


      RA gets chided here on this site a lot, but I have read a couple o fthe books he recommended and he is spot on. He changed a lot of my views in many ways.

      I still will hold onto my silver, but going to rely more on lead and cans of tuna fish.

      Take care

      • Thaddeus Thurston Thistlethwaite III

        Buy and hold, Dill. Buy and hold.

    • Brewmaster

      Good idea Ronnie. The trend is down and successful traders know that the most important thing in making money is that “the trend is your friend”. Everyone is always predicting the end of the world as we know it, but they are wrong 99.9% of the time so odds are against predicting when things will fall apart. I have no problem with some preparation as long as you don’t go overboard. Having a few coins around is never a bad idea, getting leveraged to the hilt can kill you.

  23. James

    Another GREAT interview Greg. Mr Morgan’s analogy of the crowd in the theater is spot on. Without getting into the hyperbole of historical fact, i ask my close friends ” How is it that millions of people didn’t get out of Europe with the rise of Nazi party. My own thoughts is that ” It’s damn hard to spend the time to investigate what is happening, and even when convinced no good will come of the situation, it’s even harder to pull up roots, sell assets at a dime on the dollar, leave friends and family and move away from the contagion” Of course, its not so much as moving away in this case….but the drums are beating and surely any aware individual must be nervous at the eventual outcome of the greed and fraud of all of our ‘leaders’. It reminds me of the movie “Its a wonderful Life” when James Stewart is shown what would occur if he wasn’t here to make a difference. This is our world -Potterville.
    I have put away a few oz, and have removed my $ from the bank, still i sweat about whether i need to put away a few more oz, or keep the cash under the mattress. I know it will not end well, but hope to have enuf to tide my family over the interregnum.
    As the end game becomes more apparent, i hope to include my nearest neighbors in a collective for mutual support. God bless us all….

  24. Mr.Lee

    Great interview Mr. Hunter. I like David Morgan he is level headed and a true oracle. I am not surprised that he is friends with Mr. Kirby.


  25. Art Barnes

    Greg, food for thought for a lucid mind, MSM’s banner, Got Fiat?

  26. Don Anderson

    I have never made a comment on your site before, but am a long time reader. I read all the comments and do read a lot of folks who think that they can catch a falling knife in regards to the cost of bullion. I have been buying silver since it was $4.00 an oz. right up till $25.00 an oz. and like a lot of your guest say it’s better to be a year early than a day late. I have been trying my hardest to encourage folks that I know to read up on what money is and watch some of your excellent interviews, but sadly most don’t care to become informed. I think that in a SHTF scenario a lot of people would not make, and silver and gold will only be useful artef the storm has passed. One needs to have Water ~ Food ~ Generator ~ Lots of Gas ~ Medicine and like you say Greg keep the faith. Greg I just want to Thank You for all that you put into your site to get the truth out there.
    Don A.

    • Greg Hunter

      You are an informed guy, you should have commented earlier. Welcome my friend.

  27. Evan J


    Thanks for having David Morgan on again. His comment on Greece gave me an insight and wonder what others think about this. So,

    1) the EU countries have been (and still are) vassal states to the US since WW2 (as PCR points out regularly)
    2) the US is sitting on a mountain of debt, has a stock market that is overvalued to a gross extent in relation to real economic activity, and a (worldwide?) bond market that almost crashed overnight on May 7th and May 11th – and would have without central bank intervention
    3) China and Russia have formed a strategic partnership economically and militarily. Note that they had been negotiating for 10 years without success – when were they finally motivated to reach a deal? When the democratically elected government of the Ukraine was overthrown by the west – China and Russia had a partnership two weeks later. [Good thinking on our part (dripping with sarcasm). And since when is democracy a matter of convenience rather than a fundamental principle? Oh, we promote democracy around the world until someone doesn’t agree with what we want – then we’ll come in and overthrow them. And steal their gold.]
    4) out of this partnership arises the context that allows the AIIB to be announced
    5) China sets a deadline to be a founding member country of the AIIB, and the most staunch US allies pile in, including Germany and the UK. Clearly, allegiances are shifting as allies see where their best hope of freedom and prosperity lies (sad the this is now Russia and China – 20 years ago that would have looked completely absurd)
    6) (here’s my insight) EU countries, particularly Germany, need an excuse to cozy up even more to the Russians and Chinese. This cannot happen while the EU and NATO exist. Consequently they need an excuse to tilt even further east. So, they put the screws to the Greeks even more stridently pushing them to ultimately exit. There’s the excuse (and potentially the avalanche of economic and financial chaos) for the Germans and others to move more toward the east and away from us. The Greeks go toward the Russians, the Germans etc. follow, the pipeline is built through Turkey and Greece toward the rest of Europe so the European need for energy is alleviated, China announces it has 30,000 (or whatever) tons of gold, Russia’s new advanced missile technology neutralizes the US navy, and all of Europe and Asia are now in constructive partnerships, one aim of which is to help develop third world countries toward prosperity in partnership -a win-win situation.

    So, could the Grexit (based on a Greek default) be a master plan of the Germans and others to allow an avenue for a move away from the US and toward a deeper partnership with Russia and China etc.? This makes some sense when one realizes that ramping up austerity even more on the Greek populace is worse than trying to get blood from a stone. What say you all intelligent WDs? What am I missing here?

    Greg, thanks again for all you do. Any chance of getting PCR back on sometime soon?

    • Greg Hunter

      I think the Greeks will do whatever nit take to get their last 7.2 billion euros and in the fall default.

      • Evan J


        Agreed. Thanks. God bless.


      • Mike from the North

        I think Greg called it on Greece.

        Just a little kiss a$$ and get a large chunk from those that screwed them and default this fall.

        From what I read this morning on The Guardian site I think that this explains why Greece has not walked away already.

        Is the EU that foolish to believe that Greece can or will ever pay them back???

    • Sven

      I like your thinking, Evan. And the evidence seems to support your theory. Then all we need is the people of the US to take back their country from the criminal banks. How hard can it be? Not as hard as it will be once they lose the 2nd…

    • Chip

      you’ve described the silk road scenario and that is the greatest fear of the USA…

  28. Paul T

    Greg, with all this silver talk, is it possible for you to book an interview with Chris Duane soon? It’s been a long time since you’ve had him on, a few years I think. I really like his take on things and he’s definitely a valuable ally in the truth movement. David Morgan is also a great economist to have. The man is humble and very knowledgeable. Keep up the great work Greg!

    • Galaxy 500

      Did Chris ever make the people whole that lost money due to his involvement with the Midas Mint scam?

  29. James Hastings

    Good interview.
    Simple….if Gold or Silver rise….the dollar is falling…or we are in deep stuff. You would only sell to pay off CRITICAL bills. Otherwise, keep real wealth and shun the paper products. Gold coins as savings and pre-1964 silver coins as your checkbook to buy or trade for food, gas, or “city services”.

    But….I think it’s over…..others think it’s an opportunity to shuffle paper & ink.

  30. Don

    Dear Greg, a cashless society is on the way if the global banking cartel gets their way and will probably the next area of attack, for total control. But I see some spiritual things coming and the Lord has been speaking to me about them, and though I feel its important to protect our families the best we know how, in the end, preparation to hear God’s voice clearly will make all the difference. The prophecies and God’s word, and our fellowship with Christ in the days ahead, I believe are going to be my main focus. The sign’s are all around us, and the many things that our nation will face in the days ahead will test our faith and purify those whom he’s called out of the world. The wheat and tares will become more obvious in the days ahead, and all who’s hope’s and desires are in this world could find themselves in very difficult circumstances, as the Lord does a latter day work. Good job on the interview, and may the Lord presence be with you continually.

    • Greg Hunter

      Thank you Don. “Fear Not” my brother.

  31. Smaulgld

    Thank you Mr. Morgan

    JP Morgan does NOT own 350 million ounces of silver. Those 55 million ounces that David mentioned are not even necessarily OWNED by Jp Morgan.

    Full details and charts of JP Morgan silver here

    • paul

      Looking at your silver coins chart … it interesting to see how increasing demand for silver coins is driving down the price … the same thing now seems to be happening to the US dollar … increasing demand for dollars is pushing its price down relative to other currencies … this seems to be a new economic “supply and demand law” sort of like the “dark matter” scientists have found that counteracts gravity!

      • paul

        According to this “new” supply and demand law that seems to be in effect right now … perhaps we silver bulls should just stop buying coins in order to drive its price higher!

        If JP Morgan Chase is the “dark force” operating in the silver market it seems logical that if we stop buying silver coins … they won’t want to be “stuck” holding hundreds of millions of them … so they will drive the price higher to create the buying demand needed to get rid of them!

  32. Wayne

    Years ago I visited the US Mint in Philly where they mint coinage (needed a letter from my congressman to get the tour). It was then that it sank in how phony our currency is when I saw coins being stamped out of cheap copper-coated or nickel sheet metal. No intrinsic value. I realized how we have been slowly lulled into believing our money was still worth something.

    • woody188

      Hey, that cheap copper penny now costs like 2.5 cents to make! At least it still has intrinsic value as a metal. Those paper FED notes in your wallet aren’t worth a darn no matter what number is printed on them. Mint coins will still be exchanged after a crash. Paper money will be burned for heating fuel.

      • Galaxy 500

        If we have high inflation, they will be rounding things to the nearest dollar and then the nearest ten and then the nearest hundred.
        IMHO you are not going to get some cashier to give you more than face value.
        And the metals in these coins aren’t going to be worth much after the collapse. Copper, brass, lead, steel, will likely be valuable . It really depends how far we go down the rabbit hole

        • J C Davis

          G500 I have often considered what would happen in a collapse with copper demand. As I see it copper will be of a much higher demand seeing is has been overlooked as the peoples money for hundreds of years. Also war will happen, and new economies will emerge. I think the largest over looked metal is copper. If a dollar becomes a hundred then a penny would be a dollar, and I think much more because it is useful as construction needs rise. What say you ?

      • Wayne

        The penny is copper coated. Nothing but tin inside.

        • Greg Hunter

          1982 and earlier are copper.

          • Smaulgld

            Only half of the 1982 penny mintage is copper. The began minting the cheaper version mid 1982

        • J C Davis

    • paul

      Wayne your right to some degree … as the Fed can call in the “paper cash” (Federal Reserve Notes) “they create” and say you can’t use “their” cash like you don’t own the paper money in your bank account … but the Fed doesn’t have a legal right to stop you from using the “coin cash” created by the US Treasury … so those “coins stamped out of cheap copper-coated or nickel sheet metal” may actually be the only things recognized “as legal tender” when the banking system implodes and goes down … so instead of putting paper “Fed cash” under your mattress … you should perhaps be thinking of putting those cheap copper-coated or nickel stamped metal “Treasury coins” in a jar under your bed instead!

      • Wayne

        The point is paper dollars are promissory notes and not backed by an asset. This is fraudulent. The Constitution placed a value on the dollar of 371.25 grains (troy) of fine silver. Right now its not backed by anything and is treated as if it has intrinsic value like precious metals- IT DOESN’T!

    • Smaulgld

      and its going to get worse. Before they eliminate cash totally, the Mint is considering moving the current coins from base metal to ZINC!! The current coins have some metallic value-indeed the nickel is worth about a nickel and costs the mint about 7 cents to produce.

      Here is what is brewing at the US mint:

      • Galaxy 500

        Not sure where / you are getting the nickle having a nickels value. According to
        Total melt value is $0.04. 
        (Exact value is $0.03825571401355. $0.016160434960255 worth of nickel, $0.022095279053295 of copper.)

        • Smaulgld

          The price of nickel has plummeted in fhe past six months
          In 2011 a nickel was worth almost 12 cents
          Even today a nickel is still worth about five cents (nearly four cents)
          The point was today’s coins have some value in that they are made of copper and nickel
          Zinc coins would be worth far less

  33. Auth Snort

    I am following your interviews for a number of years, and I must say that these interviews are a major sources of enlightenment for me in this turbulent world. Thanks! Please, keep going!
    I have a minor question. There was something regarding a gold/silver backed debit card in the middle of the interview. The sound on my side was not so good at this moment, and I missed the name of the site and/or company which is doing or planning this. Repeated listening did not help.
    Would you please be so kind to spell out these names/url’s?
    Thanks, A.

  34. Thomas

    Greg, the Fear Porn on this site is growing daily, and not one prediction has ever come to fruition. NOT ONE, lmao, so, what’s say you on this 100% strike out rate ?

    I believe we are headed for a change for the worse, mostly for the 99%’ers. But there will not be any Jade Helm, Martial Law, we out number them 10,0000 to 1, the odds are overwhelmingly in our favors. It is in the best interest to keep the game going, just a different set of rules. The dollar may get crushed, China,BRICS, Gold, Russia, who knows till it actually happens, but the game will go on.

    Appreciate the work and effort to inform, just not buying it to the level most are.

    • Greg Hunter

      I’ll be the first to say USAW has not been 100%, but, as the old saying goes , “Nobody is perfect.” You saying that USAW has been 100% wrong is 100% incorrect and if you read this site, you know you are lying. There have been many correct calls on this site and stating the horrible facts about the economy is not “fear porn.” Here are a few of many correct calls posted here off the top of my head: Both John Williams and Paul Craig Roberts said last year the first quarter (2015) show a contraction. (-.7 GDP 1st Q) Catherine Austin Fitts said there would not be a crash in 2014. Early last year, Rick Ackerman said rates would drop and he went long on the 10-year Treasury at the beginning of last year. (Correct call again.) I have said many times there is no “real recovery.” (Please refer back to that 1st quarter contraction.) I also predicted Senator Kay Hagan would NOT be re-elected. I was correct-again. Now, I am predicting Hillary will not make it into the White House, and months ago I said “There will be no Iran nuke deal.” Maybe you are confused and are reading the MSM. So I say buzz off and do not post your “lie porn” here.

      • Thomas

        Greg, slow down, I’m talking about the Fear Predictions, not the inconsequential rates, contraction, economic slow downs, that’s just every day market movements. You can beat your chest all you want on that, my 14yr old kid could guess the same things. I’m talking about the “Big Collapse Predictions” the Jade Helm crap, the mass killing, Matrial Law, you know, the Fear Porn. Not one correctly predicted, just more crying wolf. I’ve always said there will be change coming, more like a lower quality of living for the masses. But most of your guest are not even close on there GUESSING. I get that this is your sandbox, nobody is trying to say differently. Again, appreciate the site.

        • Thomas

          PSS, the MSM is a joke, always has been. Always will be. The world economy is one big bubble, and we all know what happens to bubbles. One thing that has been correctly predicted by your guest, things will change in the future.

          • JC Davis

            Thomas have you not seen the changes in liberty, and economics from 2008 ? Really? Without government assistants the food serving lines would reach miles. At some point ( who cares what second of the day) Reality will destroy illusion.

        • Charles H.


          It’s OK to disbelieve something, or many things – that’s your own Free Will. But to lace your criticisms with profanity, and really dirty-up your comments: you are wrong. Leveling a description at this site, which is the same as “labeling” is uncalled for: it amounts to ‘soft character assassination’. USA Watchdog, just another “Fear Porn”site, huh? Yeah, I know – ‘you call ’em like you see them’. Well get some glasses: then go someplace else. The story is not over; but you find a guilty verdict.

          When ‘things go down’, and conditions are a cross between Katrina and Ferguson – be that Happy Camper, and let everyone know how LAWFUL they should act!

          • JC Davis

            Charles he will be on the roof of his home saying all is well. A wise man sees a evil thing coming afar off and prepares, but the simple pass on, and are punished.

  35. Coalburner

    Evan J: I think you lay pout a very good scenario. I would add as I have said before, the rise in cooperation between the Greek and Russian Orthodow Church is also a big driver or maybe supporter.
    Underestimating the power of Christianity or a return to Christianity which Putin supports strongly always is a losing deal. The Bible says God raises and takes down Nations just like individuals in fact maybe mre so because he lets each erson save ot screw themselves but nations, I think he gets in their faster because he needs someone to carry his flag. Look at both Russia and China, they put up the greatest threat to Christianity in history, Islamic Sharia like they put up with mad dogs. Will we defend Christianiy or lie down like cowards and let them kill us without a fight. Europe is doing that and now our leaders want to join the lemmings running for the cliffs too.

    • Evan J


      Agreed. The power of orthodoxy and the faith of orthodox Christians is pretty profound. If one goes to Greece one sees that in spades. Deeply Christian nation because it is an intricate part of their culture, it’s not just an add on, it’s an essential part – and look at their flag. Orthodoxy has not changed over time (unlike Catholicism, etc.) and if one looks at church history one sees how orthodoxy has remained true in so many ways, including not accepting temporal power the way the catholic pope Sylvester dud in 314 AD.(even in their calendar, which has them celebrating Easter at a different date every four years because they did not change their calendar). No, they were content to stay relatively poor and keep spiritual power rather than temporal power. This is the core that the Greeks and the Russians share. They are relatively humble based on their faith, especially as compared to the power hungry western elite. Massive contrast there.

      There are 20 functioning monasteries on mount Athos, and they are regarded with the utmost reverence by the population. It is palpable, and it goes back to the time of Christ. St. Paul walked Greece and it certainly helps keep the Christian faith front and center in the culture when the New Testament is written in your language.

      I saw a piece where Putin is blessing himself with the sign of the cross at the end of prayer; when is the last time you saw western leader doing that, broadcasting their faith so openly for all to see.

      Yes indeed, the common religion of orthodox Christianity binds these countries together deeply. If you look at major western cities where there are orthodox Christian seminaries, it is not unusual to find Greeks, Russians, and, for that matter, Ukrainians studying together for ordination.

      Good insight. Thanks.


  36. Jerry

    The most likely outcome for Greece.
    The latest news on that front is that Greece will “bundle” June payments to the IMF. What this means, according to British MI5 intelligence, is that “if Greece bundles it’s June payments, it defaults to the IMF in early July, this will be reported by the IMF Managing Director after 30 more days followed by some 3-4 weeks of procedural talks inside the IMF.” In other words the crunch will come in September. – Ben Fulford

    Looks like a winner to me.

  37. Coalburner

    Sorry about the poor typing! out; Orthodox; and Christianity.

  38. dee garmon

    It doesn’t take a rocket scientist to see what’s in the offing, does it?
    Tx for the good interview.

    • Greg Hunter

      Thanks Dee!

  39. Evan J

    Greg (and fellow WDs),

    You have said that we will get deflation and inflation. How’s this in terms of looking at things simply in term of purchasing power: Those holding gold and silver will experience deflation (i.e. things will get cheaper in relation to precious metals, or put another way, one’s purchasing power will be preserved, or more likely enhanced); and this holding fiat currency will experience inflation (i.e. purchasing power in terms of currency will drop).

    Could we be seeing an early stage of this inflation in relation to paper with negative bond rates? Bonds being worse than currency in the sense that bonds aren’t even currency but a promise to pay currency in the future. So people are buying bonds knowing that they will get not not only less net currency, but the loss is compounded in terms of less purchasing power in the future. Talk about sheeple being led to slaughter.

    Does this explain in simpler terms how we can have deflation and inflation at the same time? One’s experience (and quality of life) is simply determined by what one chooses to hold as a store of value. This is the big charade for the masses.

    Make sense? What do you all think?


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