Paul Craig Roberts-Obama Could Govern as a Dictator

By Greg Hunter’s USAWatchdog.com4 

You can forget about any default in the debt ceiling crisis.  Former Assistant Treasury Secretary Dr. Paul Craig Roberts says, “The debt ceiling will be raised.  No government wants to lose its power or lose its ability to borrow.  So, if they don’t raise the debt ceiling, it is just a way of Washington committing hari-kari.  It simply removes the United States as a super power.”  Dr. Roberts goes on to say, “If they don’t make a deal, one of two things will happen. . . . The Federal Reserve, on its own authority, lends the Treasury the money. . . . The other alternative, Obama . . . can simply declare a national emergency and raise the debt ceiling on his own initiative.  He could govern as a dictator.” What would happen if the U.S. did default?  Dr. Roberts says, “The danger of default is the rest of the world dumps dollars.  If they dump dollars, the Fed loses control, the whole system blows up.  The banks fail.  The bond market collapses.  The stock market won’t go down 1,500 points; it would be cut in half. ” No matter what happens, there is still an enormous and growing debt.  Dr. Roberts contends, “The situation is unsustainable.”  It will blow up at some point, and Dr. Roberts predicts, “It will be worse than the Great Depression because in the Great Depression, prices fell along with employment.  Now, prices will be rising and employment would be falling. . . . Gold and silver prices will explode in dollar terms.”  Join Greg Hunter as he goes One-on-One with former Assistant Treasury Secretary Dr. Paul Craig Roberts. 

Comments
  1. Liquid Motion

    Greg,

    This is simply astounding / gobsmacking.

    This is NOT a democratic government.

    It makes me dry reach when I hear BHO speak….
    http://www.cnbc.com/id/101087390

    One has to see through this BS…THIS IS A SCHEME OF ARRANGEMENT.

    Threats of catastrophe and other planned events are exactly the noise that everyone (Congress) needs to hear to enact what is required. Coercion and Duress of the highest order. The US is on the verge of Totalitarian government. Make no mistake about that. Executive order implies overriding Congress , making it redundant.

    The IMF work in conjunction with US Government and Banking Elite. Their motives are not to ensure the US gets its house in order. NO..!!!
    Its about as PCR implicitly states – preparation for continuation of Power and Control. It could also be the fact that the government wishes to use the debt ceiling / default premise, as a means to reduce/eliminate unfunded liabilities (which of itself is another war within a war).

    PCR – ” The World bails out of Bonds/Treasuries/Notes”…AMEN.
    See that mushroom cloud on the horizon ? That’s the market saying take your debt and stick it down your shirt (to the US Treasury).

    Q: Have you ever tried to separate (tear) cloth that is sewn together. Its very difficult to start the process, but once it starts running, it gets easier and quicker, until you have separation. That’s what is coming in the bond market. Its not rocket science.

    The CON is up. DONE….DUSTED..!!

    • Greg

      Liquid Motion,
      Thank you for adding your descriptive analysis and perspective!
      Greg

      • Arizona

        YOU GUYS FORGOT something,A FALSE FLAG ATTACK on america,bringing in MARSHAL LAW and a total dictatorship,OR maybe even a nuke attack on say chicago,and nation wide war,……they didn’t build all those fema death camps for stray dogs to live in…besides ,stray dogs don’t care about guard towers with machine guns and barbed wire…..

        • Liquid Motion

          I stay open minded.
          Anything is possible in a country run by a ship of fools.

        • Jim J

          It is martial law but it is unsustainable. They shut down Boston for a few hours for one kid. They cannot maintain it for 48 hours. If it all falls apart – those agents, national guard, etc will be at home protecting their family. If these people go against the citizenry – they will have problems in their own neighborhoods. It will come down to them fighting for a tyranical govt or protecting their family, home and stuff.

          It will be food, water and electricty that they will use to control plus the idiots who watch TV and help enable them. Conservatives and libertarians foolishly keep watching TV think Fox is their friend. Americans traded their liberty for a TV clicker.

          • Sorrentino

            Jim:

            The next false flag can be expected to be for more spectacular than 9/11. For example, there’s been non-stop chatter in the think tank world of massive cyber-attacks against critical infrastructure. With that has come military exercises. 9/11 was a military exercise that went live.

            Such an event combined with financial chaos would justify various “emergency powers” be exercised by the US military under current standing authority. Boston was a nice trial run where citizens were cheering martial law.

            Obama has been personally targeted as well. It’s not impossible for the Presidency to be usurpted … An emergency Gen Petreus / Michael Bloomberg regime would not be so far fetched.

            The internet would be shut down or subject to Chinese style control and the NSA would start releasing targets for preventive detention to “restore order”. The machinery is all there and so is the legislation to make it all “legitimate”.

  2. George Silver

    Dear Greg
    I think Dr. Craig Roberts is your best guest. At last he has got through to me. The whole thing rests on the Dollar. He said it many times in the past but it has now sunk in.

    All of the other manipulations are side shows. They are all kept afloat by the acceptance of the Dollar.
    I’ve finally seen the light.
    Nothing will stop the manipulation including Gold and Silver until the Dollar collapses.

    Great stuff.

  3. Rebecca

    Thank you, Mr. Roberts!
    I, for one, deeply appreciate your insight and expertise and WISDOM.
    Thank you for sharing all that with us.

    You are so right.
    MANY cannot prepare for what’s coming.
    You can imagine how it feels to know a killer tornado is headed your way and you have no where to hide to protect yourself. You are left to watch it come and HOPE, HOPE, HOPE it veers off in another direction.

    Will it veer off?
    No. But what else can those not able to prepare do, but hope for the best and trust the Good Lord to open doors that no one else can open.

    THANK YOU SO MUCH.

    • mohammad

      To prepare is important, but those who believe, the lord will not let them down, they will be as good as the prepared, and with their faith they may be better.
      God who created this huge universe will not let down a weak creature who asks his help!

      • frosty

        You won’t be “let down” but having faith in no way precludes suffering…

        Mathew 26:39
        And he went a little farther, and fell on his face, and prayed, saying, O my Father, if it be possible, let this cup pass from me: nevertheless not as I will, but as thou wilt.
        Mathew 26:42
        He went away again the second time, and prayed, saying, O my Father, if this cup may not pass away from me, except I drink it, thy will be done.

        • Ukulelemike

          I am a Christian, a Baptist preacher and a prepper, to a point. I believe in being prepared, because it may start small enough it will help, but it in no way precludes my faith in the Lord, nor do I think it will ultimately protect me. I raise animals on a small farm, so have access to eggs, milk and meat, the food trifecta. Solar and wind power, as well, off-grid. If thing hold out for a bit, my tax return will pay for all the rest of the solar I need to be fully self-sustaining in power needs, with about 3,000+ watts of power. Can’t hurt.

  4. Fraser

    Wonderful man and if he needs donations, we should support him!

  5. Robert

    I had not really given serious consideration to Obama taking the dictatorial path, declaring a national emergency, and raising the debt ceiling on his own. My first thought was, “Oh, he would never do that!” The more I think about it my thoughts go to what or who will stop him? Seriously, Obama gives absolutely no deference to the constitutional restraints upon his office and his arrogance is such that he would spin this as “saving the country.” Who or what would stop him? What other dictatorial actions would he take during this national emergency? Property confiscation? Firearm confiscation? Implementation of the National Defense Authorization Act?

    Great interview Greg!

  6. Anne Elliott

    Excellent interview!!! The point about the US gov. being so proud about their globalist agenda, how all of the middle-class jobs have been shipped off shore, there are too many wars daring our coffers, and social spending all constantly exceeds revenues… And all I can say is: it fits the Cloward & Piven strategy to a “t”. Create political change by constantly overspending, creating dependance on the government welfare programs, and causing racial and ethnic tensions in order to crash the system! See a really interesting background about it on: http://www.discoverthenetworks.org/groupProfile.asp?grpid=7522
    I deal with many Americans who have lost their jobs; once they lose them, they usually cant find new ones and live off of Unemployment for the maximum time. Once they have used all of that up, they either go on Social Security disability, or just get by on part-time work and living with friends/family. I recently asked one of the disability adjudicators how these unemployed people get on disability – he said that “all they have to do is get a diagnosis of depression and they can get approved”. And so now (naturally) we hear all the buzz about social security bring insolvent. On October 3, 2013 the Congressional Budget Office met and said that Soc. Sec. was in need of more money – even tho last year they instituted an additional 1.9% payroll tax to do that. This time they said another new payroll tax of 3.4% was needed immediately in order to shore it up, because people are living longer while they’re on Soc. Sec.
    What Washington is doing is creating a climate where tax-paying workers are penalized for working and not living off of the government dole. It’s all corrupt, ass-backward, and mimics the C & P strategy to a frightening degree…

    • bahmi

      People must realize that “change is coming to America”. Unfortunately, people were so het up with Obama’s lies and absurd promises that they did not care to ask, “what are those promises anyway”? Now, we pay for our lack of curiosity.

      Make no mistake, Obama wishes to destroy this nation and he acts not in his own behalf, but in behalf of the real big hitters of the world, the Committee of 300. He’s a real long time student of the commie game and he wants to create a worker’s paradise here. Obama is the most dangerous “American” in our long history. If you voted for this guy, you were had. Obama is a true traitor,but nobody can prove he’s American.

      All Americans need to start hating Obama to the limit of their psyches. He will kill you if you let him. Either your defend yourself and your family or Obama will eat your lunch and kill you in the bargain.

      • mohammad

        Hate will get no where but darkness in your heart, love makes you stronger so you can help the needy after helping yourself, JMHO!

        • jcdenton

          We are talking about a righteous anger here. The Bible I read is most clear on this point. The man we Americans trust to uphold and defend the Constitution he made a pledge too, a sacred oath (civil religion) has violated that trust. He is susceptible to treason. Simple as that. That is a capital offense. It deserves (if convicted) a capital punishment. Once we deal with him. We will also deal with his predecessor, and any living predecessor found guilty of such crimes.

    • Dan

      It’s not that easy to get on Social Security Disability. One has to have a pretty significant, well-documented history of mental illness, usually more than just “depression” (i.e. bipolar, schizophrenia, etc.) It’s even harder if a person has abused alcohol and drugs, because the disability case worker will take that into account and it will negatively affect the application. The majority of people who apply for disability benefits are denied the first time. There is an appeal process that one can go through and more cases are eventually approved the third or fourth time around. It takes a lot of paperwork and documentation, and often a lawyer. The whole process takes a long time, often years. There is a “fast-track” to get benefits almost immediately, but this is reserved for pretty severe mental cases. Of course, anything is possible with money and the right lawyer and/or doctor. I am only familiar with the mental side; I don’t know what the procedure is for physical disabilities. But to reiterate, on the mental side it’s not as easy as “getting a diagnosis of depression and getting approved.”

      • Jc Davis

        Dan. I agree it is hard for a honest person to get disability, However it is very easy to get disability if you follow the right path. see the link attached.

        http://www.youtube.com/watch?v=eevRXi7N2CM

  7. art barnes

    Greg, last minute deal fore sure, been done many times before, just more media hype and irresponsible government, but don’t worry the America people will put them back in next election you know it and they know it, so more debt, more dollar devaluation, more jobs overseas, further shrinking middle class, increased working poor class, so on & so on, and so on, theses are the days of our lives.

  8. Rodster

    A brilliant, insightful and wise man. What I took away from the interview is that it’s full steam ahead until the dollar collapses because foreign investors no longer have faith in the $USD and the whole house of cards comes crashing down. It’s then game over for the West.

    But he also mentioned China not pulling out of its Bond purchases because it would hurt them more and it makes them even more vulnerable by issuing an exchange currency. This is why and I hope i’m wrong is if and when it’s Game Over for us it will be for the rest of the Worlds Economies. It will be equivalent to a financial nuclear bomb set off. I can’t help but to think that World leaders can’t see this outcome as well.

    What a mess TPTB have created and the appointment of Yellen to the Fed will just expand on Helicopter Ben’s wreck less policies.

  9. AndyB

    Greg: PCR is certainly right, but his thoughts on Obama’s “potential” dictatorship are missing the point that, for all intents and purposes, we have been in a dictatorship since the passing of the Patriot Act, the establishment of Homeland Security, various Executive Orders and, most definitely, the passage of the NDAA which grants the Executive total control over all America and Americans, including you and your labor, your bank deposits, and other assets that may be commandeered, nationalized (i.e stolen) under any “national emergency” as determined.

    • mohammad

      Out of fairness he said that clearly when he mentioned that Bush put all the powers he need t his disposal with the laws he passed.

  10. Sylvia Sterling

    Greg: Thanks for having this experienced and knowledgeable guest, Paul Craig Roberts,
    on USAWatchdog. His words should be taken very seriously by all. .

  11. Angel Amador

    What Bull! It seems to have no way out! except to continue on this ridiculous situation.

  12. Angel Amador

    So in another words, all we need is brains in leadership. We’re doomed! I am so depressed I have been thinking of shooting myself but I can’t afford the bullets!!! :-)

  13. Michael Calhoun

    This is one of my favorite guests. What a graceful patriot. If we only had this quality of leadership.

  14. libsarescum

    It is time for the U.S. military to stop acting like mindless robots, and fulfill the OATH!!!

    • Jc Davis

      libsarescum you are correct. It is also time for the people who want a republic to get involved. It may be that we all just move out of the way and let the truck drivers do it for us. This weekend the truckers plan to shut down D.C.
      http://eaglerising.com/2159/truckers-ride-constitution-shutdown-d-c/

      • jcdenton

        It is going to be a very interesting weekend. A lot of the truckers (owner operators) are veterans. Some of them Vietnam combat veterans. That subgroup is a most significant demographic. They do not wish for, nor intend violence. However, a lot of these guys are armed, and know how to use them. They are well organized. They have their own PR. They have already liaisoned with the VA State Police. I don’t want this to be a 21st century Lexington Green. I don’t think anyone does. The participants at the original Lexington Green did not intend that aftermath either. At some point, one has to make a stand, and be prepared for whatever consequences entail thereafter.

        • Jim J

          I saulte the truckers and the vets but until conservatives pull the plug on Tv and Hollywood then they control the media. People foolishly think Fox is any better. Fox and Murdoch support amnesty and gun control. I stopped watching years ago. Rush does the same thing talking about the media all the time. Instead, he should say they are all frauds and the public should yank the plug. Until then, Americans traded liberty for HD and a clicker.

  15. Tom Walters

    History indicates that all empires become very combative, “mean” when faced with collapse. That is one scenario that Greg fails to bring up. So, on top of a really bad domestic situation we’d likely be waging more wars on a global scale, even without the funding to support those wars..

  16. Stan

    Obama is a king, Obamacare is passed by the legislation and signed into law. King Obama decides on his own to grant certain groups an exemption to the law. Several Democratic Unions and even some states are given waivers and don’t have to follow the new law. King Obama also decides when the law will be enforced. These are the actions of a king not a president…

    • bahmi

      Each and every day I go to a quiet place in the house and meditate. First and foremost, I express my deepest hatred for the impostor called Obama,Soetoro, whatever his name is.
      After 5 years, the nation’s voters still do NOT know who this putz in the White House is! This doesn’t bother you?

      My circle of friends hates this Cloward/Piven flunkie. Hatred can be a very powerful motivating factor. Until YOU learn to hate this invader, you are never going to amount to anything.

      If you think hatred is a totally negative emotion, take your money out of the bank and buy swampland. It’s the best thing you can do.

      It was well known by nearly half of the voters that Obama was going to destroy the nation. How right they were, how wrong you were. Have you done anything to atone for your heinous error in voting for the Destroyer?

      • jcdenton

        I don’t hate the guy. Didn’t vote for him. Didn’t vote for the other guy. I do pity him. As Dr. Edwin Vieira so eloquently states, how do you impeach someone most probably not duly elected in the first place? You don not impeach such. You arrest him via the Provost Marshall. You try him for treason. Let the Rule of Law do the rest. Rinse and repeat with his living predecessors. We don’t need a “French Revolution” if we can convince ourselves some since of Rule of Law still exists in this land.

  17. Patrick Adrien Varencaus

    i dont know but there is something i dont get.?? I just dont trust this guy , never thought that He might be a part of the elite himself ? cause he dosent seem one bit disturb about the gravity of the situation? he lauh all the time maybe he doseny care cause hes old? wath about his family ,wife ,kids,waths with he laughing?

    • bertone

      Patrick,

      I think Dr. Roberts is smiling/laughing at the enevitability of it all. There is a saying; “death smiles at us all, all one can do is smile back”

      Great interview Mr. Hunter

    • bahmi

      Nice job spelling, fella. Should Dr. Roberts trust you because you are stupid? A new paradigm has just been created. The stupider, the more trustable. Don’t be late for tonite’s Mensa meeting.

      • jcdenton

        I do despise grammar Nazis. I caught errors in my own previous posts after posting. The is no preview or edit function in this forum so please give that a rest.

  18. Robert Burke

    What happens when the government exceeds the debt limit? It is often forgotten, but it actually did default once, in 1979…know your history

    • Galaxy 500

      What about 1933 when we devalued currency from 20/troy oz gold to $35/oz gold. That was true default

  19. frosty

    Dr. Roberts is describing the contemporary details related to the President’s assigned role in the plan of action for the destruction of constitutional government and the establishment of a global dictatorship…..

    “But in order that the consequences of all these acts which in substance are illegal, should not, prematurely for our plans, fall upon the responsibility established by us of the president, we shall instigate ministers and other officials of the higher administration about the president to evade his dispositions by taking measures of their own, for doing which they will be made the scapegoats in his place. . . This part we especially recommend to be given to be played by the Senate, the Council of State, or the Council of Ministers, but not to an individual official.

    The president will, at our discretion, interpret the sense of such of the existing laws as admit of various interpretation; he will further annul them when we indicate to him the necessity to do so, besides this, he will have the right to propose temporary laws, and even new departures in the government constitutional working, the pretext both for the one and the other being the requirements for the supreme welfare of the State.

    By such measures we shall obtain the power of destroying little by little, step by step, all that at the outset when we enter on our rights, we are compelled to introduce into the constitutions of States to prepare for the transition to an imperceptible abolition of every kind of constitution, and then the time is come to turn every form of government into our despotism.

    The recognition of our despot may also come before the destruction of the constitution; the moment for this recognition will come when the peoples, utterly wearied by the irregularities and incompetence — a matter which we shall arrange for — of their rulers, will clamour: “Away with them and give us one king over all the earth who will unite us and annihilate the causes of discords — frontiers, nationalities, religions, State debts – who will give us peace and quiet, which we cannot find under our rulers and representatives.”"

    - Thr Protocols of the Learned Elders of Zion

    • Galaxy 500

      Wow…the KKK handed out this Protocols garbage in the 1960′s and 70′s. I don’t know which is sadder; that people are putting this thoroughly debunked Russian Bolshevik attempt to blame the Jews on this site or the ones foolish enough to defend it as fact. I guess the Nazi party is still alive and well

  20. Chip

    Great interview Greg. Love PCR.

  21. Nichole

    Since no one knows if or when the dollar will collapse maybe we should focus our attention on getting prepared?

    There are a lot of folks, especially Millennials putting their creativity to work on a lot of these issues. They have the powerful tool “technology” on their side…and they know how to use it. They can give and receive information much faster than past generations. They can start businesses without huge capital costs. And they can execute business without always using the dollar. This is not the 60′s-70′s protest era. The millennial generation would rather use their time and skills in more productive ways.

    There are solutions to the devalued dollar, they are called TIME BANKS. It is cooperative banking of your time for services within your community. It make perfect sense in our service based economy. It is decentralized complementary to the failing dollar currency.

    Don’t take my word for it check it out for yourself:
    http://timebanks.org/

    Think about how valuable our time is? It’s what we are inherently taxed on. Utilizing time banks could certainly help many people who are subject to 28%+ tax, the middle class.

    If you are worried about affording food, start learning how to grow food indoors or outdoors. Anyone can spare a few bucks for a packet of seeds.

    Where there is a will there is a way. If you want to survive these times choose the right path! Align yourself with the right people and don’t lose your right in the process. Money does not have to control us. Remember, they win the game when you give in. Don’t believe the fear, believe in yourself :)

    • California70

      Nicole,
      Just checked out your Timebanks site.
      Are you aware that this site is completely socialist?

      This is “collectivism”of the first order. Welcome to one world govt. my dear.

  22. Charles H.

    Hey Greg,

    Dr. Paul Craig Roberts is one of the last old patriots standing in America. Just to speak against the current administration is dangerous, and does marginalize him. I think he know his time is limited, and is doing all he can by sounding the knowledge he possesses.
    He revealed the option of Executive takeover on King World News previously. Having said that – not even KWN brings such in-depth and broad, over-arching coverage of issues and conditions. So your site, Greg, is about as good as it gets in real-world terms. Knowledge comes in bits and pieces, so it forms a mosaic of consensus: and yours is the most complete or clear one of all.
    And on a personal note – my apologies for recent comments having a more severe or critical tone. I own my share of being “Too stupid to be stupid” stupidity. We all look to find some measure of justification in the agreement of others to those things we express. And occasionally I find other comments and articles that do this; with little comfort, because I wish things were not so. My wife has objected to my data-mining the Web, voicing concern that I am addicted to it: and she has a point – which explains the “See you round” snippet I included a little while back. It is SO easy spending hours at the computer, reading source after source, link after link… So I have TRIED to curtail activity: but to do this is almost like letting your guard down. Thanks for letting me on. And thanks for doing such a good job. You are on the vanguard of world-wide and historical events, whether you are recognized for it or not. And some of your commenters to this site are almost as good as your guests. Kudos to all.

  23. Rebecca

    When Mr. Roberts spoke of the current leadership as being “stupid,” I thought of the following scriptures in Isaiah chapter 3:

    1 For, behold, the Lord, the LORD of hosts, doth take away from Jerusalem and from Judah stay and staff, the whole stay of bread, and the whole stay of water;

    2 the mighty man, and the man of war; the judge, and the prophet, and the diviner, and the ancient;

    3 the captain of fifty, and the honourable man, and the counsellor, and the cunning artificer, and the skilful enchanter.

    4 AND I WILL GIVE CHILDREN TO BE THEIR PRINCES, AND BABES SHALL RULE OVER THEM.

    5 And the people shall be oppressed, every one by another, and every one by his neighbour: the child shall behave himself proudly against the ancient, and the base against the honourable.

    WHY DOES GOD ALLOW THIS TO HAPPEN?

    8 For Jerusalem is ruined, and Judah is fallen: because their tongue and their doings are against the LORD, to provoke the eyes of his glory.

    Although this was Isaiah’s prophecy again Judah for their sinful ways and how the LORD would bring them to their knees, the pattern is set for all to see how GOD deals with disobedience. For the Lord Almighty does not change. HE is the same yesterday, today and forever. When a nation turns from God, HE will judge that nation by the very pattern HE established in the old days.

    HE has allowed us to be ruled by “babes”, men with no understanding — just as Mr. Roberts states quite succinctly.

    We can say the “elitists” — those after power and greed — or corrupt governments have brought all this on mankind. There may be truth in that. But the greater truth is that mankind has turned away from GOD’s teachings and instructions and followed after their own ways. As scripture says, Each man does what is right in his own eyes. And now GOD has allowed us to reap what we have sown. HE has given us foolish leaders to aid in our demise.

    Mankind has responsibility too in what is coming down the pike.
    It is not all a corrupt government and power hungry/greedy elitists.
    We have turned from the LORD’s ways and HE is allowing us to receive the full measure of our deeds.

    Brother Wilkerson who prophesied 30 years ago of the financial holocaust that is coming, wrote in his last book, “America’s Last Call,” that we had better not make survival plans on “our own” in “our own strength.” We warned that we must seek God and get HIS directions in how to prepare for the holocaust that will change life for everyone. Wilkerson did not mince words: Everyone is going to suffer much and the wise will seek the LORD’s guidance.

  24. mohammad

    Greg,
    When they came up with big head Benjamin 100 bill no one in Syria was taking the small head benjamin, and each time i travel over their i ask the bank here in US to give me the new big head bills knowing fully that no one will take the older one there.
    with the new bill that is supposed to be counterfeit difficult (no one can say proof i guess) i can guarantee to you that the feds will print double or triple the announced amount to satisfy the rush to exchange the old ones for the new bills.
    I believe it is the mere reason for delaying and dragging the feet on the production of the new bills since last thing the feds wants is a run on the banks to exchange those bills and dumping the old ones.
    A little of searching i found that middle east was not alone in this habit, it turned out that Russia too into getting the new bills even if every one assures the public.

    http://www.nytimes.com/1995/11/04/world/russians-in-a-panic-over-new-currency-the-us-100-bill.html

    So get ready for an OCEAN of the new gold Benjamin’s to replace the big head and small head Benjamin’s when the feds are going to say it is a RIVER!

  25. Jerry

    Greg it just can’t be made any more clearer. Paul Craig Roberts is absolutely correct when he says there is a 1 Trillion dollar gap between expenditure’s and revenue. Like Jim Willie said, they’ve probably increased their QE to make up for the losses in the Bond Sales.

    When I look at how high the debt hockey stick goes, and how much QE printing has gone on, I just can’t imagine this going on for much longer without some type of collapse. Every time I put a pencil to it, I come up with the same exact answer. Default. There is no other way out.

    Greg, Congress will never make the tough decisions necessary to save our economy. You know it. I know it. And the Chinese know it too. That is why they have been busy setting up a parallel exchange system. And when they are done with it they are going to pull the plug on the dollar. And when that happens NO amount of money printing will save us. In the oriental mind, it is always better to cut off a finger, than to loose an arm. I think it has become abundantly clear to them that they will never see the 1.3 Trillion dollars they loaned us. That is unless the globalist pulling the strings in our government cut some kind of back room deal. I wouldn’t put it past them.

    Greg I realize your guest can’t put any kind of timeline on the collapse because there are so many variables, but can you honestly see us going through 2014 like Paul Craig Roberts suggest?
    Thanks for your work. This was a goody.

  26. Daniel Vigario

    It was like Dr Roberts watched this speech before his interview. A MUST WATCH…..

    http://vimeo.com/5372026

  27. penforce

    That Mr. Hunter, was the best interview you’ve had, ever. P. C. Roberts stated in a very few minutes everything we know to be true. He didn’t have to scream or use unsubstantiated statements to make any points. Mr. Robert’s explanation of the madness that is taking place was so clear that it took my breath away.

    If anyone is supporting a Republican, you are supporting stupid. If you are supporting a Democrat, you are supporting stupid. Partisan comments blaming either political party for our present mess are absurd. The two parties are opposite sides of the same worthless bimetal coin. Our government is not leading us with intelligence, Mr. Roberts said their actions are best described as cunning. Cunning is a positive adjective if you are describing a fox. If a congressman is described as cunning, we can substitute the words sneaky, calculating or sly.

    How sad that I am given the choice to vote for a candidate who is more or less cunning. I have some silver, some gold, a little cash on hand and a couple of months of food in the cupboard. I have given up trying to persuade others that we are likely to be dealing with a collapse event in our future. I now am resigned to sit and fiddle and wait for Rome to burn.

    • Greg

      Penforce,
      Thank you for your comment and kind words. I have much respect for Dr. PCR!
      Greg

    • Charles H.

      penforce – I have come to the same place of preparation, and attitude. More arrive each day.

  28. John M.

    Just think carefully of how bad things really are?

    Mr. Roberts is always calm, careful, and adeptly diplomatic in what he says, yet even he simply states that America will at some point suffer immensely because of the large gaps between spending and revenue that the government has accumulated methodically in the form of debt for many decades. The Fed can continue buying government debt with freshly created paper money(digital money actually), but the real damage will likely come from the soft underbelly of the U.S. Dollar. Dollars in the form of cash may always have some value and worth, but probably only as wallpaper or toiletries.

    Roberts mentions that gold may not be a great alternative to a devalued dollar right now, since it has been manipulated down by all the tremendous shorting in the paper “markets”(thanks to JP Morgan and the boys). This will not last for long. When China thinks the end is near and the West is running out of borrowed and plundered gold to send their way, then gold prices will be allowed to find fair market value up in the stratosphere. And who will have the gold?

    Meanwhile, our nation is focused on the government shutdown and how long we can all last without visits to monuments and parks. It used to be that Americans could live quite nicely without government, but the march of socialism and the complacency from all our material comforts may have changed all that. I think a hyperinflationary depression followed by a complete collapse is what should be occupying the thoughts and preparations of Americans. We also have to consider that extraordinary events will probably allow some really desperate and tyrannical reactions from our leaders, as Roberts also surmised.

  29. Wes

    Yes, of course Dr Robert’s opinion helps me to figure things out. He’s really a national gem. I support him with a monthly donation and I have no job at present. It’s one of my little ways of striking back. I encourage everyone to support his work. Without someone with the intellectual juice of PCR speaking up for you………who you got?

  30. Steve Wiseman

    All what is happening in the US today with its horrible debt began in 1913 when the Rothschild gang led by Warburg and Nelson , and enabled by a corrupt congress created the Federal Reserve. This gave them control of the US money supply and they soon plunged the world and the US into a horrible debt. The same thing happened to England in 1694. And it led to the England losing its great colony, the US. Before that a similar bank disaster led to the downfall of Ancient Rome and, before that, it ruined Ancient Greece…Compound interest is powerful tool of destruction. I see no way out of this mess. If the Romans couldn’t save themselves, I doubt if the US can. Watch for the rats to soon jump ship.

  31. John

    Dear Greg, great interview with P.C.R.
    You always ask the questions which are on the tip of my tongue.
    Keep up the good work!

    • Greg

      Thank you John.

  32. carroll price

    It’s important to understand that Obama is simply a front man for the banking cartel and as such, has no power or control over long-planned events now unfolding in the Western World. Anyone assuming that anything of consequence would be any better or different under a Republican president is fooling him or herself.

    • Greg

      Carroll Price,
      “Front man” great point.
      Greg

    • John Galt

      Carroll, You are correct. Also remember when one election cycle we got our choice of two democrats, John McCain or Hussein. What difference would it have made.

  33. Jon Foster

    Your shows just get better and better Greg.
    Dr. PCR just wrote (today’s column on his website): “My interview with Greg Hunter of USA Watchdog is, in my opinion, one of my best.” I would consider that a great compliment to you sir. Congratulations on an excellent show, I wish it were aired on every major TV network and internet outlet.

    • Greg

      Thank you Jon for your support and for telling us about the posting on the PaulCraigRoberts.com home page!!
      Greg

  34. r

    We’re toast.

    Stock up on food, drink, meds and supplies while you can. Buy them while they’re on sale and hide them from the food police.

  35. truthsleuth

    Epic interview, Greg. What a delight – this one with PCR is a keeper. Whether you agree with him or not, how can you not love this guy?

    • Greg

      truthsleuth,
      People know when they are being lied to and likewise, they know when someone is giving it to them straight. Many love and respect Dr. Roberts I included. Thank you for your comment and kind words.
      Greg

  36. baxstekat

    There is so much farce and theatre in government. We are the losers. As an example, check out this article…food for thought:

    http://www.naturalnews.com/042410_Obamacare_exchanges_programming_failure_mockup.html

  37. Jerry

    Greg have you ever wondered how many zero’s are in 1 Trillion Dollars?
    Here it is. $1,000,000,000,000.000,000,000,000,000,000,000,000.
    Now imagine (depending on who you talk to) that we have a real debt level of 120 of those. How long would it take to pay off this debt (without interest) if you are paying in roughly 1 Trillion a year in revenue? That’s right 120 years! And that’s without interest. As an investor, would you ever consider buying stock (in this case Bonds) from a company like this?

    We are so arrogant to believe that the rest of the world ever take us serious when you look at the numbers this way. We are broke. The landlord just hasn’t showed up to collect the rent…yet.

    • Greg

      Jerry,
      The real problem is not the so-called “debt ceiling” it is the debt. We have a trillion dollar gap and nobody wants to close it. It will be closed one way or another, and it will be very painful mush more so than it we tried to close it on our own. Thank you for your comment.
      Greg

    • mohammad

      There are 12 zeros in a trillion!!!!!!

      • Galaxy 500

        Wow..we agree on something. 12 zeros in trillion. I take that as a positive sign. Mohammad, there is hope for us yet ;-)

        • mohammad

          LOL
          yes we agree on one thing here!

    • Rodster

      Wow that’s a lot of zeros mate. There are actually 12 zeros in a trillion.

      • Galaxy 500

        He lost me at octillion…not sure they use designations like that anymore and I doubt I spelled it correctly.

  38. Marcella

    Greg/All,
    Have any of you heard of Leo Wanta? I have been trying to educate myself about what is going on and I came across some sites that talked about him. I am curious if this story is true or not. As I am learning more about what is really going on and to definitely not trust mainstream media I have wandered around the web trying to find out as much as I can. I apologize as I know this isn’t the exact topic this thread is discussing. Thank you

  39. md412

    Never, never discount the possibility of armed domestic conflict. While it may not be possible to save the whole, enclaves of isolation are not far-fetched. The truth is succession, in the face of pointless, perennial wrangling using established and heretofore peaceful means of addressing power, may well be tried BEFORE collapse.

    At the very least, I’d expect many efforts to isolate and balkanize away from hopeless political efforts to reverse our present course.

    When the game is up, what else would there be?

    m

    • mohammad

      md412,

      Look at Syria, it is a lesson in history how both sides of the conflict get played out by the same sociopath banksters and both sides finally gets destroyed.
      I was born and raised in Damascus Syria.
      Do you know how much did it cost me to finish my school and my med school?
      IT WAS FREE!
      Here you have to sell the house to get through med school loans.
      more than 75% of Syrians finish high school and more than half of those finish high education, more than 80% of babies in Syria are vaccinated, and look where we are now?
      Facebook was the tool to move the masses, they started with the easy one Tunisia to get to the hard one Syria.
      Now they are working on Egypt and the final blow will be delivered to Saudi Arabia.
      All the sovereignties are going to be attacked, THEY CAN NEVER BE ABLE TO DO THAT IF IT WAS NOT FOR THE EASY MANIPULATION OF THE MASSES.
      The bate in Syria was noble, I have known it was a wicked evil game from day one and i did not fall for it, most Syrians unfortunately fell.
      Please learn a lesson from Syria, and here am putting this post to every American person who can read it:
      DO NOT FALL FOR THE TRAP THE SYRIANS FELL IN.
      The banksters are playing both sides, the people and the government.
      There is a lot of beautiful things here in this great America despite all the financial wows, I pray that people here will be smart enough (I pray they may show they are smarter than the masses in middle east) so they thwart the plans of the banksters to rip this country in a civil war.
      Bite on the tongue and search for the positives in local communities and be aware of the glittery themes of constitution and freedom that will tingle the emotions, you may if you dig enough find some evil faces behind it like we found out in a tragic way in Syria (NOT ALL GLITTER IS GOLD).

      • John Galt

        Mohammad,
        Forgive me for being born in Texas, but your barking up the wrong tree.
        Remember the Alamo!

        • mohammad

          John,

          According to Thomas Chittum in his book:

          Civil War II The Coming Breakup of America

          http://www.resist.com/CWII.pdf

          Texas and the southern part of the country bordering Mexico is a toast if (god forbid) my fears came true and people were played by the banksters.

          Do not fall in the trap!!!

  40. Lewis

    Paul Craig Roberts almost got it right.

    Obama IS governing as a Dictator.

  41. Lewis

    Obama has printed Trillions of dollars of which I believe he may have reserved for his own personal security purposes a large sum that he will use for his Civilian National Security Force to control the (masses) civil unrest when the SHTF in the not too distant future.

  42. DAVE

    Hi Greg
    Here’s another NEWS FLASH.Little by little things are changing
    http://www.bangkokpost.com/news/world/374037/chinese-european-central-banks-in-currency-swap-deal

    Thanks Greg

  43. Mr.Lee

    Great Interview Greg:

    I thoroughly enjoy the way you conduct your interviews.

    To some of the points brought up by Dr. Roberts. The US is still the number one economic power in the world, although declining, still on the top.

    Nothing would prevent the US from issuing a new Dollar currency to replace the current indebted currency. While at it, the Federal Reserve, that prints the current notes, could also be replaced. The Precedent for this are the First and Second National Banks of the US that no longer exist.

    A new currency issued by a new central bank or the treasury would in effect cover only pennies to the old dollar. This would greatly reduce the debt burden and pay the creditors something instead of a default. Given a choice between default and a new currency, I would suggest the vote would be for a new currency

    • Greg

      Thank you Mr. Lee. I have been saying for years that when push came to shove they would sacrifice the dollar. That is exactly what they are doing.
      Greg

  44. M. Smith

    Greg, it all coming to a head fast. Largest hedge fund closing down, FX Concepts once the largest HF shutting down with many others!

    S. Hatch R Utah has come with the SAFE ACT, save the pension plans, it seems the big insurance companies are behind this move. I think there is a rat in the whole thing, like AIG & the Federal Reserve & the Banksters. We need to know more about this bill & those who are lobbying for it. I think the ways are going the thieves are trying to get as much out of the people(suckers) as possible before congress is shut up out of their duties! You know if we go back to December 1913 when a few in congress stayed in DC to ensure that the Federal Reserve Act was passed with out any debate or roll call we can see the pattern that leads us up to today, a nation broke, corruption at all levels, a people who have become so dependent on government hand outs instead of picking themselves up by the boot straps & making a life from something from nothing because when Obama & the banksters get through with the spending of the people savings that’s is what will have to happen, some will endure & most will fail, what we have watched in the middle east will soon be the norm right here in the USA or what is left of it!

    It will take all governors of all the States to take back the high ground, if the do stand together as one all will be lost & the break up of the USA is the final out come as I see it! PGR is not the only one who has written how Obama had set out to take complete control, you will find many on the net but I will not list them, what GPR said is the truth & we damn sure be ready for it soon!

    On the Radiation news, folks need to check daily at http://www.Fukushimafacts.com, the US NRC has been sent home as of the 9th, hell they have not done their jobs any more than congress has, they too sell off to the highest bidders! If Fukushima is not a worry to Obama & the other nations that backs the nuclear complex then why are the French & other telling their populations to stay out of the rain, don’t eat green leafy plants & don’t eat any sea food from the Pacific? Star Fish turning into GOO off the west coast from BC to Mexico, I think we have a problem & a huge one. Now what would happen if the nuke plant that’s falling apart just N of NYC loses power? It would take out NYC & all things across the ocean to Europe! Greg, we have many major FUBAR’s & it will only get worse, can’t wait for your weekly rap up! Thanks!

    • Galaxy 500

      As screwed up as things are now maybe a little radiation will help the gene pool. Our country’s genetic material is concentrated at the shallow end of the gene pool. A large radiation leak is just social Darwinism in action.

  45. Christopher White

    Dr. Roberts comments about .gov actions mirroring those of a declining imperial Rome are apropos. Another similarity not mentioned in his interview is that Rome, just like modern day .gov bought its alliances, not with fiat paper like U.S.A., but rather with gifts of real money, gold and silver. Livy writes that these huge gold and silver bribes paid by the Romans for foreign alliances, particurly with the rulers of those lands bordering Parthia, i.e. iran were very material in bankrupting Rome. Livy’s analysis in my opinon dovetails nicely with a necessary .gov improvement that Ron Paul has harped about constantly for years, namely that necessity that U.S.A. should immediately cut all so called ‘foreign aid’ and instead invest that money here at home.

  46. Robert Burke

    Gold to hit a new low in 12 months (900). here is why….India

    The Tirupati temple in Andhra Pradesh, Shirdi Sai Baba temple in Maharashtra, Siddhivinayak at Mumbai and Padmanabhaswamy temple in Thiruvananthapuram are among the richest in India with huge reserves of gold and precious metals.

    In fact, the roofs of many temples, such as the Nataraja temple in Chidambaram, Tamil Nadu, and Tirupati are covered with gold. RBI is counting on banks handling the accounts of these temple trusts to convince them to convert their huge gold deposits into cash, the bankers said.

    This will in affect stop gold imports into India, driving the price down…

    This will happen in the next 6 weeks

    • Greg

      Robert Burke,
      Here’s why not. China more than 860 tons of gold in the first 8 months of this year. http://blogs.wsj.com/moneybeat/2013/10/10/chinas-hunger-for-gold-triggers-speculation-about-reserves/ Will the naked short selling and market manipulation continue. Yes it will, but that cannot go on forever in the face of bona fide physical demand. Thank you for your comment.
      Greg

      • Robert Burke

        Were in a cyclical bear market in Gold.

        Assuming a decline in the gold price to only $1,200 per ounce, gold stocks probably have another 25% downside, at least, before this cyclical bear market in gold runs its course. For example, Market Vectors Gold Miners ETF can probably ultimately be bought for less than $25, whereas Market Vectors Junior Gold Miners ETF can probably be bought in the $11 range within the next three months.

        The reason is that many gold miners simply can’t justify their current lofty market capitalizations on the basis of projected earnings and cash flow, even with gold prices at $1,200.

        And a few gold miners that have been caught wrong-footed in the midst of expensive capital expenditure projects will be shut out from capital markets and will face insolvency and/or the need to make highly dilutive secondary offerings.

        The distress of just two or three companies in the sector will typically set off panic selling in the whole group, as the majority of gold stock investors have no idea whether the stocks they own could become the next distress situation.

        I doubt the secular bull market in gold is actually over. But a cyclical bear market in gold is upon us now, and it will not have run its full course until it has inflicted maximum pain on the speculative holders of “paper gold,” effectively running the weakest hands out of the market, properly setting the stage for a possible final leg in the secular bull market in gold.

        • Greg

          Robert Burke,
          Thank you for adding your perspective and analysis.
          Greg

    • Galaxy 500

      There is a deep seated long held fear of paper money in India for long term wealth preservation. I believe it would be a hard sell to these guys. Just my $0.02
      And I question the price dropping now for some action yet to come with a tremendous demand in China, Vietnam, Russia…

    • Galaxy 500

      What currency is the $900 New low in…I show it is just under $1300

    • mohammad

      Indians are like us middle easterns we do not believe in banks, my mom had her saving accounts in her neck, my sister had her emergency budget in her wrist, jewelry to those cultures are saving accounts.
      when a baby is born the gift is gold, when the weds are celebrating the families give them gifts in gold. Gold is embedded deep in the eastern culture that no one can unroot it.

  47. Jerry

    Dam it. I got caught by the spelling police.
    You guys are all correct there are 12 zeros in 1 Trillion. I got carried away with my zero’s. The funny thing is, at the end of all this economic collapse stuff all that will be left is a zero. Only this time there won’t be a one in front of it.

    • mohammad

      Jerry,
      You were right!
      YOu posted the US deficit in few years from now :)

      • Galaxy 500

        How about the future $1 Bill replacement?

    • Liquid Motion

      Jerry,
      “Fat Finger Error”…harmless….in this instance !!
      Feel free to tranfer One Dollar to my account (ie $1,000,000 in future dollars).

  48. Charley

    Thanks for all your work Greg. I’ve stumbled upon your site a while ago and now make sure I am never more than a few minutes late for you latest post.
    I am also trying to offer this type of information in a soft manner to family and friends to subtly nudge them awake @ http://concernedamericandad.wordpress.com

    • Greg

      Charley,
      Thank you for your support and kind words. At some point your family will know what you now know. They will not be able to ignore reality when it hits them in the face. You will need to be there for them.
      Greg

  49. Michael

    Do YOU Remember when:

    Investing was more about preserving long term value than “making money” (which is the same thing as “creating indebtedness” in our debt based economy)?

    Bank robbers were those who were outside of the banking system?

    The Phrase “Leader of the Free World” meant the President of the United States of America? No matter what you call Obama, you cannot call him a leader because people aren’t following him, not US Citizens, not foreign leaders, and he isn’t bringing people together – he IS dividing everyone against one another.

    When the Law was considered a good thing, and favored fairness?

    When “living well” was more about happiness than having lots of money?

    When people had respect for the truth, and for others as fellow human beings?

    When the Defense Department was about Defending the US and NOT about Offending the rest of the world to try to control IT?

  50. Roger

    Greg great interview “Washington never shows any intelligence only cunning”. How true is this! The U.S. government never looks beyond its current crisis.
    I also loved the quote from John Williams about going from tap dancing on land mines to hammering on land mines.

  51. Robert

    Today 10/13 with Obama refusing to make any deal except a permanent blank check from Congress, the EBT system scare, veterans marching on the White House (which could have ended badly had the hundreds of veterans overrun the handful of scared White House Police who were sent out to be sacrificed), the nations top nuclear general fired because Obama doesn’t trust him and a bond default scheduled for Thursday it looks as though the “black swan event” may be much closer than would have seemed possible just a few days ago. A bond default and dollar collapse would be the perfect “catastrophe” for a Nero like Emperor Obama to declare a national emergency with martial law and lots of new government spending with accelerated dollar printing from the Feds new QE Queen Yellen till the dollar becomes worthless.

    The army will be handing out the food on the streets when the economy shuts off because the oil stops flowing since the Arabs will no longer accept dollars for Oil and we do not have domestic refineries capable of processing our own abundant supplies of crude oil and our coal fired electricity generation capability has already been shutoff because Obama was worried about CO2. After the food runs out and we go to war “terrorist” attacks will occur on our streets. To save us our glorious leader will provide transportation to the emergency camps that he has thought to provide for us. …and if not this Thursday, next week, next month, next year?

    Dr. Roberts is one of the smartest guys out there but I am afraid he underestimates Obama’s evil intention and still imagines a world in terms of “national” power not global rule by oligarchy. Our Congressmen who have the Constitutional authority to simply print the money to pay off all our national debt, impeach the criminal in the White House and solve all of our problems by reindustrializing America through elimination of taxes on domestic businesses and raising tariffs on imported goods (see US Constitution – Article 1, Section 7) are either complicit or too obsessed with their own personal power and wealth to notice reality. They will continue to engage in political theater till they become completely irrelevant.

    There is always the hope that the sheeple will wake up from their trance and demand real solutions but it probably won’t happen by Thursday.

  52. 9pointkid

    Greg,

    Mr. Roberts said “it’s really run by six very powerful private interest groups who are very short term in their outlook and want more profits now.” Would be interesting to know the names of the “interest groups” Mr. Roberts was referring too. Perhaps that question could be asked during his next interview here on USAWatchdog.com.

    Thank you for doing what you do.

  53. DanDaley

    Greg,

    You are a good interviewer because you allow your guests to speak without constantly interrupting them. Nice job.

    As for Dr. Paul Craig Roberts, I find it hard to believe that he doesn’t see the administration’s actions as deliberate. I can see how the dollar is the major vulnerability, but it would seem that there is more to this than mere stupidity/arrogance/hubris -take your pick…enticing as it is to see one of these as the prime reason for this economic disfunction. Is it the Cloward and Piven gambit? Is it a deliberate attempt to create the circumstances for martial law? As Dr. Roberts said, these people are clever, and perhaps just clever enough to dream up an audacious, yet malevolent plan for the country.

  54. Stanley Crawford

    With Paul Craig Roberts as the “Father of Reaganomics” contributing the nearly tripling of the deficit; having nothing to do with the collapse of the former U.S.S.R., while raising taxes (Revenue Enhancements)7 out of the 8 years in the White House. That took the U.S. from being the #1 creditor nation in the world to the #1 debtor one in less than 8 years.

    What Paul Craig Roberts writes about now running contrary to his actions of the past. Actions speak louder than words, but apparently Paul Craig Roberts is ignorant of these truths. And those who blindly/foolishly follow/agree with the charlatan Paul Craig Roberts are unaware/don’t care about his putting the U.S.A. into massive debt and its compounding interest with the farce economic Reagan Revolution.

    • Greg

      Stanley Crawford,
      You really don’t believe this left/right paradigm do you? Massive debt? The debt at the end of the Regan Administration was what $3 trillion? and it’s $17 trillion now? “charlatan Paul Craig Roberts” Where did he lie in this interview? Don’t come here and make accusations you cannot back up. Are you that much od a Democratic partisan that you cannot see the country is in deep trouble? Obama Care is a disaster (not just the website) and anti-constitutional (read the ACA law). We have an active unconstitutional drone murder program. Obama signed into law indefinite detention of Americans which flies in the face of the 4th amendment. He and the rest of the leadership (both Republican and Democrat) think the NSA spying on Americans is OK. You are bringing up an administration from the 1980′s? This is what has done us in? Are you delusional? You are out of line calling Dr. Roberts a liar, and totally disconnected from the enormous problems we face.
      Greg

Leave A Reply

Please Note: All comments are moderated and manually reviewed for spam. In turn, your comment may take up to 24 hours to be posted. USAWatchdog.com also reserves the right to edit comments for grammar and spelling errors.

Your email address will not be published. Required fields are marked *