The System Will Collapse, It Must Collapse-Chris Duane
Greg Hunter’s USAWatchdog.com
Chris Duane of TheGreatestTruthNeverTold.com says Hurricane Sandy should be a wakeup call for the entire country. Duane says, “The impact of a dollar collapse will be hundreds, if not thousands, of times more disruptive to life than a two day storm.” Duane goes on to say, “Sandy is a great precursor to help you get your act in gear.” According to Duane, most people are just as unprepared for a dollar calamity as they were for the recent super storm in the Northeast. A much bigger financial storm is coming. “The big problem with all this is counter-party risk. You cannot trust anybody; you can’t even trust the currency.” Duane trusts physical silver, and he thinks its 53 to 1 silver to gold ratio per ounce makes silver attractive. Duane thinks he could make a good case for “. . . a one-to-one silver to gold ratio, especially with all the paper manipulation.” Duane says, “The system will collapse, it must collapse, and people will learn a very difficult lesson.” In the next move up, Duane see’s silver “pushing past $50 per ounce.” Join Greg Hunter as he goes One-on-One with Chris Duane of TheGreatestTruthNeverTold.com. His YouTube channel has more than 5 million views in a little more than a year.
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
The Bipartisan Elite(Jeff Faux)saved themselves in 2008 by TARP. There are several other tricks like SDR’s. How long can the smoke and mirrors last ??- That is the question. // Personally,I’m going with gold mining stocks and then converting over to gold and silver bullion when the alarm bells start ringing too loudly.= A high wire act in a strong wind. Not exactly a prescription for relaxation.
So it sounds like you feel comfortable that you will have no problem converting those stocks into cash that some stock operator will then give to you?
thank you Greg. Truth. 1st truth must be practical,if it dont work its not truth.2nd truth will always lead you to serve others better,and yourself.3rd truth will always cause freedom. be it spiritual, or mental, or physical. Truth will set you free.
Now compare metals to paper.
Thank you JC and End Time Servant.
Greg
Good talk this you g man understands what is here and what is coming America’s death
Is a collapse of the “system” the way to save the gold ponzi scheme?
LD in SF,
I don’t know but gold will save whoever how owns it in a collapse.
Greg
Greg,
I like Chris Duane’s inspiring and optimistic outlook. He is a man who looks forward and sees freedom as a new paradigm arising out of the ashes after this carefully managed, greed driven system supported by debt and dependency inevitably collapses. His underlying assumption seems to be that most people actually desire freedom as much as he does, and this invites me to want to play the devil’s advocate. If I have correctly discerned his unstated assumption, it is not plainly obvious to me that it should pass as being true without question. Here’s why…
Throughout history, man has willingly surrendered his freedom to other men for the promise of security. Until just recently, with the impending collapse of the global monetary system looming more and more certain, earth’s citizens had been moving ever more deeply into the supposedly secure arms of their slave states. Now we see protests calling for freedom and democracy. These protests have apparently arisen more out of a concern for the failure of their governments to provide adequate cradle-to-grave security than about a loss of freedom. Furthermore equating freedom with democracy shows a fundamental lack of understanding about the political differences between the two systems.
Many people inherently fear true freedom knowing that one of its central and most essential penalties is insecurity. Having freedom requires living in a world of free enterprise, of risk taking, of enjoying the prosperity of success and of accepting the consequences of failure. A free man’s security does not rest in the visible tokens handed out by his masters in government. His security rests in the law, order and justice established by the invisible hand of his Creator. Man’s best governments are founded on laws establish in order to protect and defend this divine justice.
Over two centuries ago, those who understood this created our central government and chained it to a Constitution so that the people might be free. We no longer have that government. We have an amended one which, through the 16th amendment and the Fereral Reserve Act along with various Supreme Court and Executive orders, has made freedom practically obsolete. The private ownership of dependent slaves has been properly outlawed but then replaced by a system of public slavery monopolized under the power of the state. Furthermore, that system of enslavement extends even to our children and to theirs as well.
When this unjust and corrupt system finally crashes and burns, the parasites who flourished under will still remain and they will be confused, fearful and very angry about the situation. The question remains as to whether those who cherish freedom will win the day or whether the slave minded among us,for the sake of security, will win it by surrendering to yet another temporary and possibly more terrible master who is waiting in the wings. Even another civil war is a possibility.
These are interesting times we are living in. I hope Mr. Duane succeeds in accomplishing what he is working so hard for in creating his web site and by giving interviews.
Thank you for providing this refreshing interview with this good man.
Thank you Frosty for adding your voice here.
Greg
@frosty, who wrote : “Even another civil war is a possibility.”
Another civil war is baked into this putrid cake, ‘frosty, for all of the very same reasons that brought about the first one. See my further post for the “Cliff’s” Notes version.
+ + What frosty said
The Second American Civil War began on November 7, 2012; perhaps 1 person in 1,000,000 noticed the event. But begin it did; and already we are seeing the SAME rumblings that preceeded the first American Civil War, the rumblings of “secession”. Because history rhymes rather than repeats, the Second American Civil War will be different than the First. It will pit mostly East against West this time, instead of North against South. There will be different regional alignments. But there WILL be casualties – REAL casualties, sad to say, dying from REAL bullets and other REAL side-effects of REAL war – and when the Second American Civil War is over, there will BE NO “reunification” as there was after the First. Texas will either secede successfully or throw its lot in with its progenitor, Mexico, in some sort of alignment; the Regional South that was once the heart of the original Confederacy will finally deliver on its promise that “.. the South will rise again.”; the states of the Upper Midwest bordering Canada will probably align themselves with their nearest Canadian Provincial neighbour; Utah, Nevada, Wyoming, and Colorado will elect Mitt Romney Super-Governor with Utah the “first among equals”; the Original 13 Colonies will be left to stew in their own juices and start fighting amongst themselves for what little scraps will be left. And, with a bit of luck, “The Big One” will hit the San Andreas Fault and California will sink into the Pacific Ocean and the new cry will be “Cowabunga, dude! Surf’s up, Nevada!”
Thank you Man!
Greg
Should something kick the ol’ U.S. bucket, Texas will most certainly go Independent this time around (taking Sam Houston’s advice from the last rodeo). I don’t reckon your comment of an “alignment” with Mexico will become an option – a friendly trade alliance – maybe. Besides, we are holding spades in this crap game:
(compiled by Bob Smiley, with a few liberties of my own added).
–Resources. Texas currently sits on one-quarter of the nation’s oil reserves and one-third of the nation’s natural gas reserves. Even more, fully 95% of the country receives its oil and gas courtesy of pipelines that originate within Texas. This is what one might call leverage. For revenue Texas can tax every unit of energy leaving the Texas border via interstate pipelines. Texas has also re-opened a silver mine and sure to open more if need be . Currency? No problem, Texas has done that before too. Trade? Texas has two of the top ten international seaports – and the energy resources to export. Energy trade makes for good neighbors and friendly international alliances.
–The Texas Economy. This is well documented but worth repeating. In the last decade, even with the Great Recession, Texas has expanded by one million jobs. One million. That’s more than every other state … combined. Because of its friendly business climate, Texas is home to more Fortune 500 companies than anywhere else. If Texas were its own country, it would have the thirteenth-highest GDP in the world, just behind Canada and Russia. Or think about it this way: For every dollar Texas taxpayers send to Washington, they currently get only about 80 cents back. Theoretically, they could transfer those funds to the state’s coffers and still give every Texan a 20 percent tax cut.
–Utilities. Texas is the only state with its own power grid. Developed over the course of the last 100 years, the Texas grid covers the majority of the state and is fully state controlled. Translation: Texans could rest assured that the federal government doesn’t have the power — literally — to turn off their lights.
–Defense. While no match for Uncle Sam’s firepower, Texas does have a significant defense presence, namely in the Texas State Guard (which answers only to the governor), the Texas National Guard, the Air Guard and the legendary Texas Rangers. Texas is also home to two of the nation’s largest military bases — Fort Hood and Fort Bliss — and being able to control those two installations is nothing to sniff at. But let’s not forget the firepower of the citizenry itself.
–History. Texas has done this before. Twice, actually. First in 1836, when it seceded from Mexico and became an independent country. Second in 1861, when it joined the Confederacy. And while the South did lose the Civil War, it didn’t lose it in Texas. In fact, by the end of 1864, the North didn’t have one square foot of Texas soil under its control despite many attempts; such as in the second battle of Sabine Pass where 44 Texans defeated 5000 Yankees. Even a full month after Robert E. Lee surrendered at the Appomattox Court House, Texas was still fighting. Texans love their state and they love a fight. That is a lethal combination.
Yippee Kyy Yay Yanks..
Oh, and I forgot to add : Somewhere, Santayana will be laughing hysterically.
Greg, great interview and love your website…
Thank you Chip,
Greg
Being from Cuba I already know what it will be like, only thing is that here in the US is going to be 10 times worse than in Cuba because the people themselves will make it worse for not being prepared for what is going to happen.
And remember:
“If you don’t hold it, you don’t own it”… Ponce
Get ready today for the way that you want to live tomorrow…..
I hope the system crashes soon so we can hopefully re-build a better system that does not leave so many people poor and disenfranchised. It angers me to know that I did everything I could do to better myself (went to law school, passed the bar); however, I find myself sitting at home sending resume after resume out with no response. My current situation is depressing, and I am certain there are many more out there like me who have a great deal of anxiety for the uncertain future we face.
So that is why I say let the system burn to the ground so, hopefully, we can rise from the ashes like a phoenix with a system that is not controlled by the FED’s fiat currency.
Greg,
As I listened to Obama announce his proposed Tax increases ( double the amount he campaigned on) it brought to mind the famous 1930’s cartoon which I will leave a link for. Ayn Rand will be proven right as the Atlas’es of the U.S. will begin to shrug as the welfare dependent cry out for yet even more. A purposeful plan? who knows– but the 1st Atlas with the giant voice –Ron Paul — is leaving…….. as much a prophet as Ayn.
http://www.ritholtz.com/blog/2009/04/1934-chicago-tribune-cartoon/
Greg,
I question why he stopped selling the coins if he made $180K. Seems like a quick buck to buy other silver or durable goods with.
Good to see you folkes are still spewing nonsense about the coming run to gold (and silver for that matte.) Last time I was here I promised everyone a nice butt whoopin…and even told you the weapon of choice I would be using >>> DUST. Did you all buy at 23.70 like I suggested? I’m not finished with you goldbugs yet. Right now I’m sure you are thinking >>> “Well, physical gold is holding up pretty well. That just goes to show that gold will be the safe haven for the fiscal cliff thingy” Excuse the language, I’m trying to get this as close to the way you clueless goldbugs actually think…which of course is hill-freakin-larious! 🙂 I’ll be back soon to see what you all are saying when (not if) physical gold joins the thrashing I am putting on the gold stocks. Maybe I will just wait until it is time to pick you clueless goldbugs up from amongst the smoking ruins before I return. 😮
JoeJustJoe,
Talk about clueless, gold has bee up every year for more than a decade. $250 per ounce to more than $1,700. Yeah, “hill-freakin-larious!” Gold buyers laughing with pure joy. Come back anytime.
Greg
And that’s actually the really funny part. There are many sheeple who bought gold assets on Peter Schiffs advice (to name 1) who STILL aren’t even on their trades. How high will physical gold need to rally for you goldbugs to make some chachingo? I “know” how low the gold stocks will need to trade for me to save your sorry buts. But you aren’t ready for the truth yet. 🙂 BTW, I banked my GLD short trade on this morning’s dump. I played GLD 166 weekly puts that more than doubled from my ave buy point. I also sold my last remaining DUST shares. I’m not a complete pig…but thank goodness I ain’t a goldbug either.
JoeJustJoe,
You are entitled to your trades, comments and strategies but not your own facts. You are wrong on the facts and plenty of people have protected and increased their wealth. Gold has gone up every year for MORE THAN TEN YEARS. That is a fact. Enough with your stupid trader talk.
Greg
Which leads to the following question >>> Is gold (and not U.S. treasuries) one of the last great remaining bubbles? You will find out well before we are half way thru the year 2013 I imagine. And you won’t like what you discover either. In the meantime…gold is gonna collapse again leading to a “minor” rally in the SPX to I dunno…1370-1375? Just doing my best to show you where the $$$ is…that’s all 🙂
Joejustjoe,
That is a disaster if you are a trader but if you are a long term holder that’s a bump in the road. If you are talking about bubbles, look no further that Treasuries with 5 year money well below 1%. Interest rates have nowhere go but up after the Fed is finished suppressing them.
Greg
Aha! Yet another misconception. That interest rates are going to rise in the long term. You will certainly see a blip up in interest rates as treasury bonds(as measured by ticker TLT) will lose their “safe haven” status once this wave of market selling ends here in the not too distant future. That will be the blip you speak of. The alternative to my DUST play, which is NUGT, will be trading below $8 before that happens tho. In the end it will be the same story as it was during the Lehman/Bear Stearns meltdown. When (not if) Citigroup and Bank of America (the U.S. answer to national Bank of Greece and Gov. Bank of Ireland >>> zombie banks) are declaring bankruptcy the masses won’t be running to the safety of gold. They will be begging the U.S. government to take their U.S. dollars and watch over them via short term treasuries that will offer a “negative” return….just like they did in 2008-2009. This isn’t going to be a “rare” case where “the sheeple” (aka goldbugs) failed to learn from past mistakes. This has happened time and time again throughout history.It’s called the “this time it’s different” mentality.
Joejustjoe,
The debt is going up and so are interest rates. What you are saying is in total disagreement with people I talk with that handle large amounts of money for people.
Greg
People who you talk to that handle large amounts of money for people? That wouldn’t be Pimco’s Bill Gross…would it? Find somebody that has been more consistantly on the wrong side of the trade then Bill Gross the past 2 years. The poor guy has aged 20 years over that time frame. Now I see he threw in the towel on not owning bonds and started buying bonds again. You wanna bet that the market rally I mentioned 2 days ago doesn’t start next week, leading Bill Gross to crap out of his bonds because the “fear trade” came off? Bill! …call me! *-)Greg, you did some “investigative reporting” about the banks and the way the same mortgage was sold to so many entities that nobody knows who’s toting the note. Be logical…do you honestly think these banks are not bankrupt already “if” the “real” market was allowed to price the stocks properly? When (not if) BAC is trading towards $1/share in a freefall…do you really think that’s gonna be inflationary? Gold is supposed to be a measure of inflation. BAC at $1/share is inflationary? You need to learn what gold actually is. Gold is like Apple computer stock….a vehicle for speculation by the criminals on Wall St…just like everything else is.
Joejustjoe,
We will just have to agree to disagree and as I have said many times in the past “Good men can disagree.” Thank you for all your comments and taking the other side of the argument.
Greg
And thank you, Greg, for the “civilized” argument. Most goldbugs would just go into attack mode on anyone with an opposing pov. The windup is that I am actually veeery close to joining you on the other side of the trade. As I already mentioned, NUGT really isn’t that far from a price point where I feel it will at least double from. I also have 3 or four individual PM plays on my watchlists for the coming weeks including JAG, MDW, AUMN, n GPL. Keep up the good fight because I think we see the same things in many areas. We just see different outcomes. The HUI goldbugs index as well as physical gold (as measured by GLD) are both already signaling that long term tops are in but both “should” trade to lower highs. So your “weapon of choice” (gold) is actually already foretelling the coming GREAT deflation. Good luck to all who visit this blog site. I will stop by periodically to see how you are doing.
JoeJustJoe,
Thank you. Come back anytime.
Greg
Gold and silver are very much need in a market crash. 1st you need water food and safe housing. Then gold or sliver. Can’t eat gold.
Dan,
You can’t eat oil, dollars, stocks or bonds either.
Greg
I know somethings different.
Isn’t it strange we have a non-white president for the first time in history. 10 years ago that was unthinkable, and no wonder, it will bring a curse on America just like it did in 1860’s.
The enemy of China and Russia will lay bombs on America during this time. All hell will break loose. They will invade this country.
Israel will be betrayed and have a Jeruseleam will fall.
Bimbam,
This is a little racist don’t you think? I don’t want to censor people, but I am not going to put up racist comments either. No more of this will be posted. We didn’t have a black president in 1860-that was Lincoln. By the way, I edited out the most racist and nonsensical statement that was made.
Greg
Your steady hand helps avoid a voyage foundered on the rocky headlands–keep on steering us around their insipid siren calls.
William Woodson you made my day. Thank you.
Greg
A one-to-one ratio of gold to silver? Is he actually saying that the price of silver is going to be equal to the price of gold, heady stuff? This earnest guest can’t be dismissed as peddling “pessimism” porn because the scenarios he talks about are highly plausible. Thanks Greg for bringing us another knowledgable and honest guest. I just hope it doesn’t get as bad as in the movie “The Road” where 90% of the people are dead and 90% of the survivors are cannibals. See link below.
https://www.youtube.com/watch?v=camI8yuoy8U
Hi Greg, i’m in total agreement and have been preaching it on other websites such as theeconomiccollapseblog.com and shtfplan.com that the system needs to collapse and we need a reset.
What worries me though is that TPTB like G. Soros have been planning and wishing for a collapse. The NWO crowd is willing to pounce once the dust settles.
Rodster,
I do not know how it will all look like after the crash but one things for sure, we are headed for the Mother-of-all financial calamities. Thank you for weighing in here.
Greg
Greg,
I’ve been following your youtube channel for a while (chris duane’s as well) and I truly appreciate all of your hard work. Thank you.
Eric,
Thank you for your kind words and support.
Greg
Thank you. This was just what I desperately needed. Sometimes you feel like a voice in the wilderness. Great interview, very upbeat and informative. And it put me back on the path.
tsuki,
Thank you for your kind words and for your support.
Greg
Hi Greg.
Early on in your interview with Chris Duane he seemed inclined to discuss the differences between localized “bare grocery shelves” as seen in the aftermath of “Sandy,” and systemic “bare grocery shelves” as would manifest in the aftermath of hyperinflation in the U.S. Unfortunately, and quite innocently I think, the thrust of your various questions and comments had the effect of diverting the discussion away from that utterly essential and almost-never-discussed topic, and onto more heavily trodden ground. Result: I was very frustrated by the interview, not so much because of what was discussed, as because of what was not discussed.
Could you, perhaps, have Chris Duane on again, and devote more time to discussing what will happen in the U.S. if a hyperinflation gets underway here?
My reason for voicing this concern is simple: the norm in a hyperinflation is that at some point the more astute members of the population recognize the advantages of spending their paychecks as soon as they get them. The idea is that the sooner you spend your money, the more it will buy, because prices will be higher tomorrow than they are today. Result: the first people to grasp that idea rush into the stores and clean them out, leaving bare grocery shelves and empty fuel tanks at service stations to greet the less-astute shoppers who arrive later.
The only sequence of events that I can imagine, subsequent to such a scenario, is simple: after a few days with empty bellies, the unprepared multitudes begin an orgy of rioting and looting, and as that response spreads across the country, the cities burn. After cleaning out any stockpiles of food or fuel they find in the cities, the teeming multitudes of unprepared city dwellers then spread out into the countryside like a horde of locusts, armed to the teeth, and determined to do, and take, whatever they deem necessary to survive. The result will be complete societal collapse: a war of all against all in which only the strongest, most ruthless, and most brutal survive, ending with a society rather closely resembling that depicted in the movie “Road Warrior.”
I realize that the various localized hyperinflations that occurred in the past never led to a “Road Warrior” outcome, but I also am aware that the world was vastly less interconnected then than it is now. As a result, most people could fend for themselves. A man riding a horse, for example, isn’t dependent on service stations, hence on refineries, hence on foreign imports of crude oil. His “vehicle” can refuel itself by grazing by the roadside for awhile and drinking from a nearby stream or pond. Similarly, populations were much smaller and more rural: a high percentage of the population lived on farms or ranches rather than in cities, and in the absence of refrigeration and bulk transport, cities were supplied locally. Shipments didn’t have to come from thousands of miles away to replenish stocks. And the world wasn’t on fiat money: the present situation, in which all currencies are fiat, are all defined in terms of dollars, and in which the dollar is also a fiat currency–meaning it isn’t redeemable at a fixed price in terms of anything–has never existed before in human history.
Hyperinflation of the dollar, under the presently existing circumstances, is going to destroy confidence in every currency on earth save those of a few nations (Russia, China?) who have enough gold to restore convertibility, and which act immediately to do so. And even if they do, the collapse in international trade that results when the fiat currencies of the Western nations go down–nations which almost certainly have no gold–is likely to produce riots, looting, social disintegration, and “Road Warrior” outcomes in those nations as well.
Therefore my question, directed to you and any of your readers who care to comment, is this: how can “Road Warrior” be avoided, if hyperinflation of the dollar actually occurs?
I have been thinking about this question for quite awhile now, and the longer I think about it, the less hope I see that dollar hyperinflation could lead to any other outcome.
Any comments you or your readers care to make on this topic will be greatly appreciated.
Aw, this was a really good post. Within believed I would like to put in writing like this moreover – taking time as well as precise work to make a great article… but what can I say… We procrastinate a lot and on no accounts appear to get one thing carried out.