U.S. Gold Holdings Close to Zero-Rob Kirby
By Greg Hunter’s USAWatchdog.com
Financial analyst Rob Kirby is an expert on forensic macroeconomics. His research shows central bankers are starting to not trust each other. Kirby cites Austria’s recent demand to audit its gold held in London. Kirby explains, “. . . Austria seems to have a reason to want to go and see it and inspect it and know that it is real and see it hasn’t been sold and nothing untoward has been done to it.” Austria joins a list of countries, such as Germany, concerned about its gold holdings. Kirby contends, “We are seeing cracks in the trust that, five years ago, there was no questioning the ownership or custody of sovereign metals stored at the Bank of England or the U.S. Federal Reserve; and, now, we’re seeing countries are questioning and want reassurances. There’s been a breakdown in trust (between central banks). . . . This is now a distinct pattern, and I expect it will accelerate as time goes on.”
What happens if Austria is not granted access to its gold by the Bank of England? Kirby speculates, “I would say there could be some piling on. There could be some other countries that could be concerned about the state of their reserves. Kirby goes on to point out, “Countries around the world with foreign reserve accounts where they hold vast amounts of U.S. dollars, all it’s going to take is for one of them to get really spooked . . . and bolting for the door is for countries with these massive foreign reserves is to start madly buying gold. At some point, countries, if they feel their gold has been compromised, they might want to replace it in a hurry. . . . All the countries holding vast amounts of U.S dollars in their reserve accounts . . . think many of them think those dollars, in the end, are not going to be worth anything. That raises the inclination for one of them to spend them or use them before they lose them or they become worthless. I think there is a growing propensity for someone somewhere to do this.”
What about America’s gold? Is it still in Fort Knox? Kirby says, “I don’t believe America possesses any substantial amount of gold. America claims to have sovereign holdings of just over 8,000 metric tons. I believe that number is grossly inflated, and it might be close to zero.” What would happen to the dollar if it was indeed fact that America had very little gold left in its vaults? Kirby contends, “There would be calamity in the financial markets around the world. . . . If the 8,000 tons of gold has grown feet and is not where it is supposed to be, it would certainly qualify as a national secret. This would also explain why the United States has been so dead set against a proper audit of its gold reserves.”
Kirby has 15 years’ experience as an international derivatives broker. There are hundreds of trillions in derivatives spread around at the major global banks. There is no public market, no standards, and no guarantees. If someone miscalculates by a small amount, Kirby says the whole system could crash. Kirby explains, “You’ve got one bank in Germany that’s got a derivatives book that is 20 times the size of Germany’s GDP . . . . Germans have seen their currency go to zero. Germans know this can happen because it’s happened to them. Americans don’t think this can happen to them. Americans think they can print money until the cows come home and that they can control anything by printing more money. You can’t solve a problem of indebtedness by continuing to print money. This is fraud on the highest, highest order. This is not going to end well. What they are doing is bluffing with the future of humanity. They are bluffing with the future of mankind.”
Kirby goes on to predict, “Ultimately, we are going to get to a place where we will have no more choices. It will blow up. We are seeing cracks in the foundation of this fraud. . . . Gold and silver is your life insurance policy, and it isn’t going to come into its own until this current system breaks. I think we’re close to the current system breaking. . . . The way America is printing dollars, the dollar will absolutely go to zero.”
Join Greg Hunter as he goes One-on-One with Rob Kirby of KirbyAnalytics.com.
(There is much more in the video interview.)
After the Interview:
Rob Kirby lives across the border in Toronto, Canada. Kirby says he no longer travels to the U.S. because he does not trust the U.S. government. He points out that he likes America, but not our leaders. Kirby also told me his website is visited regularly by U.S. government agencies such as the CIA, NSA, State Department and the INS. He told me he has the data to prove it. To visit KirbyAnalytics.com, click here.
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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 worlds financial system will collapse via the dollar. Sounds like nobody is trusting the accounting of their gold reserves. It sounds like the snowball effect has accelerated to speeds of non-stoppable recovery.
Ugly,
I still struggle wrapping my head around the enormity of the upcoming implosion. The cable guy came to my house and he told me he and his wife were going to by their first family shotgun for home protection. He is 33 years old. People are waking up and they’re scared.
Greg
One only has to compare how much of the world’s central banks hold in US Treasuries vs. how much they hold in gold to realize the extent of the problem.
China and Russia have been diversifying their reserves into gold at a rapid pace.
“For us (Russia and China) it is important to deposit those (gold and currency reserves) in a rational and secure way,” he said. “And we together need to think of how to do that keeping in mind the uneasy situation in the global economy.” Vladmir Putin
http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=242327&sn=Detail
Ever hear US Treasury Secretary Jack Lew, Federal Reserve Chairs Bernanke or Yellen or President Obama talk about the importance of the US gold reserves?
Here are some charts that illustrate the enormity of the US debt situation:
– a chart showing the US Treasury holdings of the top 25 countries.
– a chart showing how many US Treasuries the Fed owns as a result of QE. (2X more than China!)
-chart showing top gold holding nations- the US is listed as #1.
http://smaulgld.com/foreign-holdings-u-s-treasuries/
It’s clear there is too much paper and the US doesn’t seem to want or be able to do much to shore up its position.
Stopping QE is a start (if they are really stopping) but increasing productivity is what is really needed instead of borrowing/printing dollars to provide food and health care and to juice the stock and real estate markets .
Buying a shotgun for protection has been the only good advice ever offered because Joe Biden
500,
I’ll bet the Obama Administration cringed every time they hear that, but he was right!
Greg
The old adage that when the shoeshine fellow tells you to buy xyz stock, then it is time to SELL. Likewise, when the cableman buys a shotgun, it is time to lock the door. I pray that the black swan isn’t wearing fatigues.
Calgirl –
You touch on something there – and it demands further expounding. To answer your ‘prayer’ – the ‘black swan’ has already touched down… He’s on the beat daily in fact – in the form of SWAT teams, knees to the groin and cheekbones, tasers to anywhere (and extra helpings for good measure), Armored vehicles to little Podunk towns, courtesy of DHS swag they have in surplus (Thank You U.S. $Tax-cattle…), requests for massive amounts of ammunition, firearms and body armor for nearly every single agency that is even remotely related to the Federal Government and lastly, an ‘attitude’ born out of the slavish worship of ignorant Americans towards anything that wears a government uniform since September 12, 2001…
In short, Americans ‘asked’ for this, and now they have it – Writ LARGE…
~P
Greg,ugly, JC, lastman, Jerry;
I always like KIRBY, quoted by the Jackass often.
I am looking at the D Light S300, maybe 2 !
I also bought largest Harbour frgt. camo tarps and spray glued tinfoil to the topside, for emp blankets, and cover all exposed items, atv, MC’s, gen. set’s, etc.
I sent the Jackass a note yest. here is the conversation.
Allen Ols
10:20 AM (14 hours ago)
to Jim, Greg
Jim I have been talking to my dentist Miguel B. for 5 yrs now, and last 2 appoints I finally got him to listen to your interviews, PCR, and and John williams on usa watchdog. 3 weeks ago he took his family to panama, he is puerto-rikan , sp and his 3 kids bought each a house, and he will buy his next month and today he said they will get their passports. My other doctor Kenny d. finally listened to your inter. and many more, @ usawd, and he is now a prepared doctor. lol 2 down 311 million to go.
Jim Willie CB
10:38 AM (14 hours ago)
to me
nice
2 down
311 million to go
clever
thanks
Good post Allen.
My last big purchase was a Burky water purifier. I’m working on a 275 Gal. IBC water storage tote right now. I’s like to buy several, but don’t have the room.
Jerry
I was fortunate to get the large 275 square basket type tanks from a candy mfg. place, 12 altogether, which i hooked up to my gutter s , as well as 300 blue plastic open top barrels and white metal open top. I sold half on craigs list, most going to a DR S. He is a super prepper. I am going with the sawyer water filter sys. utilizing charcoal from my burn pit, (chunks) put in a 5 gal bucket for second stage to remove any taste from the filter. I have 5, 2 are backpack type squeeze type. I located hams yest from Tripp Hams, in brownsville tn. they said I can freeze their cured hams for several yrs. I can live on biscuits and gravey, potatos, and ham and beans if need be. lol Will order 2 D-lights s300 tomorrow. yest. I p/u 4 50 ft garden hoses from HF, 20 bucks each for the rain tanks. I agree w/Kirby, DOLLAR WILL GO TO ZERO.
Greg, thanks for all you do. I listened to an interview last night on another site that I think your viewers will definitely want to hear. Se if you can get Bix Weir on your show.
DTCC=Depositary Trust Custody and Clearing
This is the entity charged with maintaining ownership records for $37 trillion worth of securities (+/- 99% of all securities). Anyone who has a brokerage account relies on this company for accurate position and transaction reporting. ie. This is Wall Street’s backbone.
Among the disclosures I listened to last night:
*Somewhere in the neighborhood of 300 million daily
transactions are never recorded (HFT anyone?)
*The DTCC basement (where all these records are kept) flooded during Hurricane Sandy.
*Within weeks of the basement being pumped out, a fire occurred in the same basement. 20 people went to the hospital as a result of this fire.
*Goldman Sachs says no records were lost (Really???)
*The former head of the CFTC (who was let go there after arguing against silver position limits) was put in charge of the DTCC records dept.
*Billions of dollars of silver swap contracts were transferred to the DTCC just before the announcement that the London silver ‘fix’ would officially end on August 14th.
*ALL these silver swap contracts reference the London silver fix for calculating position gain/loss.
*These contracts are of no value without the London silver ‘fix’……
To say this was a bombshell interview would be a massive understatement.
Two closing thoughts: DTCC is most likely owned by the same people that own the Fed and all securities held by the DTCC are owned ‘in trust’ through a fictitious business name of “Cede & Company”.
Ugly
A very good two sentence summary of the place we all have come to.
How on earth could anyone of sound mind trust the accounting or any information coming from the Fed and the evil cabal that makes up the central banking system of the world. Personally I find it very easy to remember the last time the US gold reserves were audited because it was the year before I was born – 1953 – lets see ummm? – doesn’t that work out to be a bit more than 60 years?
There is much speculation now that there is very little gold left in reserve. I will go one step further and suggest that it is more likely to be 100s, if not 1000s of tons, of “negative” gold if you factor in huge contract claims on what is supposedly held.
Actually it is difficult to say which is the most monumental lie, this bollocks about the gold reserves or the whopper ” tapering” that is supposedly taking place.
The Fed actually expects the world to swallow that a tiny indebted country like Belgium are suddenly “buying” huge amounts of US treasuries? This is just insulting to anyone with half a brain. Obviously this is simply the Fed printing and handing out money to buy their very own bonds – I have one word for this – PATHETIC – no two, I will also add DESPERATE. This can only be described as collusion by these central banks to hide the fact that no one wants US treasuries anymore because they will soon have less intrinsic value that used toilet paper.
We should all dwell heavily on the fact that one of the most sinister cabals the world has ever created meets in Basil once a month to plot how to keep the life support running on this giant ponzi scheme that we have all created [AKA the world financial system].
I think we should be under no illusions whatsoever – their collusion in perpetuating this farce is orchestrated and coordinated, and renders what is termed “tapering'”to be completely false. This is one of the most disgraceful and thinly veiled lies of modern times.
Cheers
Col
Colin NZ.
Thanks. Good analysis.
BTW. I am a runner and have been a fan of the NZ running system created by Arthur Lydiard of the 1960s. He has a very long track record of success with the likes of Snell, Walker, Magee, Moller, Quaid, and the list goes on and on. One of these days I wouldn’t mind traveling to NZ and jog the infamous 22 mile Waiatarua trail that the world record holders ran at that time. Yes, our Leaders are misleading the World. Someday maybe it will change. Cheers as well….
Colin.
You are correct on Belgium. Maybe next month we will hear Cuba has just purchased $600B worth. Who knows?
Used toilet paper! That’s a good one, mate!
Greg,
Great interview. Did I hear Sean Hannity cite you as a source on his radio show today?
If so….kudos!!!! Well done.
~Paul
Paul from CA,
Cool. Even the MSM needs real news sometime. I actually like Hannity. I am sure some of these guys would like to say more but they fear being fired. Thank you for the heads up.
Greg
Greg,
I truly fear that our “leaders” will either explode an EMP bomb over the U.S. or start a war to cover up their fraud and incompetence. Allen ols wrote (above) that he bought tarps and covered them with tin foil to protect his electronics from EMP. I bought a metal trash can for the same purpose but I can’t figure out how to fit the generator and car into it! Guess I’ll have to go the tarp route….hope it works! Incidentally, Youtube has some good videos on faraday cages.
A good plan to try to help those who aren’t “in the know” might be to call into all these talk radio stations and reference your “Watchdog” site and pertinent interviews. A bunch of people are going to be caught off-guard and the ensuing riots will be deadly.
They already started the war, watch video’s about Muammar al-Gaddafi . and ask yourself the question, “what happened to Libya’s gold?” . they had huge reserves and wanted to trade oil on gold instead of the dollar. And he was removed for that, his people loved him and he was close friends with High ranking American officials. I am glad so much people have their eye’s open, gives me hope for the future :).
http://www.youtube.com/watch?v=THlaMUq6MKU
It still astounds me that all the people who were in charge of the public trust put themselves before the humanity that fully trusted them. That is evil in so many ways. Now the common man must pay the price. I feel by the end of this year the common man will be well underway in the suffering for what so few did so recklessly. To misquote Winston Churchill, “Never in the course of human history has so many suffered because of the actions of so few.” I hope their souls are not destroyed in the process.
May I offer my opinion on the Gold in Storage at the BOE and FED.
Too much attention is drawn to the Central Banks and their concerns over misappropriated Gold held by the world’s financial centres.
What is missing from the equation is the other large interests having their gold also misappropriated. The other large interest groups are more concerned about the loss of centuries old and even dynasty wealth, rather than the stupidity of the preservation of USD hegemony. They have the power to destroy the Anglo-American banking system in an instant if their wishes are not met.
We are in the midst (6 years and counting) of witnessing the repatriation of this wealth back to the rightful owners. There has been some commentary about when a particular Super Power (The Elite behind the country) cannot take delivery of their remaining (Owed) Gold …that there will be destruction of paper money (unbacked).
I believe Mr Kirby is correct in his summation of the lack of Gold in storage at either the BOE or the FED. We are now literally walking the tightrope which someone has already put a flame to.
Your previous guest alluded to how astonished he was at the rapidity of events leading up to what he was originally forecasting to occur in 2016. The question to ask is why. When something stinks (USD) it stinks up the whole room…all fiat currencies.
Kirby’s words (particularly the last few minutes of the interview ) are prophetic and should be seen as dire warnings. It is indeed humanity that these maniacs gamble with. It should not be tolerated.
In due course the world will come to discover the people who are the masters pulling the strings. It saddens me deeply that the masses are continually kept unaware of the true structure and mechanics of the world.
There is evolution then there is revolution. Off with their heads.
The common man is also guilty since he has allowed the sociopaths to wreak the system by not getting involved. Its like Tocqueville said, Americans primary interest is how much money will it bring in.
The only guilt on the part of the common man …is being involved and played like a pawn in this game. He has been kept intentionally in the dark for an eternity. Words or inaction are irritations and blessings for the controllers. Only when there is starvation, lawlessness and chaos will the common man prevail. No army will arrest the purging of those that have brought the world to its knees.
Silence is Golden,
Profound comment. Thank you for making it here.
Greg
it’s all about the money. at any cost. the human race, no problem. he who dies with the most toys wins. this is not right. i go out on a limb, but it’s almost that these people are really not human. they are sociopaths. research and dig a little deep. you might find what i just said.
i just heard on coast that we haven’t had a legitimate war since the civil war. when you think about ti sounds right. this guy had years of researching every war since.
we should start with the banksters, get out of everybody’s business home and abroad, make it over attractive to bring our manufacturing back here. go after the real fraud. but unfortunately folks we have aloud all this to happen because we were more interested in sports, tmz, american idol, housewives, etc. etc..
meanwhile the corporations started consolidating back in the 80’s. some of the food corps. owned most of one food isle while giving the appearance you had a choice. old family names but owned under a huge corp. example. i heard quite a bit,”we are beatrice” after so many food commercials. of course they were ate up too. the labeling is even a lie.
Wow, powerful stuff! Mr. Kirby as always is right on the money. I clearly agree with him (vs Mr. Rickards) that the US sovereign gold (Ft. Knox) is not there. Considering how low ¨confidence¨ is, a simple audit of our gold (which would cost a mere 10 to 12 million dollars) would put a majority of the ¨conspiracy theories¨ to rest. If even a substantial part of the metal was there, after almost 60 years the audit would be done – they have not done it because they cant! I dont know if it´s a week, a month, a year or maybe longer – but unless you´re purposely hiding from the truth, it´s hard not to notice that the levy is starting to break. I truly believe that time is short folks – prioritize with what your personal finances permit (Beans, Bullets & Buillon) and if at all posible get as far away from the places most likely to put you and your family in danger (especially high urban areas). Scary times ahead, may God help us all.
Dear Greg
As a rule I dislike politicians intensely but in this case I’ll make an exception.
This is something to enjoy about the EU parliament. (the speaker is in English)
http://www.youtube.com/watch?v=jbLFo02jlH8
I think he says it for us all.
George,
This was great and very pointed! Looks like Mr. Farage has some help!
Greg
WOW! Thank you for that video link…..unfortunately, NOT ONE OF OUR ESTEEMED LEADERS has the guts to stand up and tell the truth as the fellow in the video did. And the anger he displayed is what I expect to see throughout America soon. The INSIDERS here in the US will do as the insiders did in Cyprus…they will all have removed THEIR money from the banks before the rest of us are “bailed in”. Filthy, dirty crooks….all without enough integrity to stand up and speak out.
I am also suspicious regarding whether or not the U.S. still has all of its gold. Maybe Jim Rickards has inside information. For the sake of all of us, I hope and pray that Rickards is correct. Thnx for another good interview.
I have never trusted Mr. Rickards. He seems very well informed and I’m sure he is privy to inside information but it was not long ago that he was much more “tentative” about the dire circumstances we are in as a country. The last interview was exceptional in the info he provided and as expected, I guess, he spent a lot of time plugging his books. If I recall correctly, he almost poo-pooed owning bullion not too long ago. The fact that he has gotten “onboard” now is very worrisome. I’m sure most will object to my opinion, but, so be it, as it’s just my opinion.
Greg, if an audit was conducted and it was found out that there was no gold, I’m sure CNBC could find a “buy signal” in that revelation as it does in every poor financial report that comes out. Can you just see CNBC pitching going long on gold cause of its scarcity after it was discovered there were none in the vaults. The reason there will be no audit is so simple, its not there, if it were why wouldn’t an audit be allowed; LOL.
Hey Art I’m with you. I saw a journalist on Fox the other day say that the reason the Republicans are focusing on Benghazi and the IRS scandal is because they want to draw attention away from the fact that the economy is recovering. I blew a whole mouth full of orange juice through my nose when I heard that. Is not enough for the MSM to cover up the lies. They have perpetrate them to.
Last year I did some research on Gold repatriation request following Germany’s request and found :
At least six other countries have also made gold repatriation requests, including Switzerland, Finland, Romania, Poland, Venezuela, Ecuador. Yahoo finance has reported that the Netherlands and Azerbaijan are also considering repatriation of their nation’s gold
You are a little behind. Venezuela received the last of their gold in Jan 2012, over two years ago. They repatriated the entire 160 tons
http://www.bloomberg.com/news/2012-01-31/venezuela-receives-last-shipment-of-repatriated-gold-bars-1-.html
Looks like the French had all of Germany’s gold while we dont
http://www.forbes.com/sites/afontevecchia/2013/01/16/germany-repatriating-gold-from-ny-paris-in-case-of-a-currency-crisis/
Specifically, the Bundesbank will be bringing to Frankfurt all of its 374 metric tons stored at the Banque de France (11% of its total reserves), and 300 metric tons held in the vault of the New York Fed, reducing its share in the U.S. from 45% to 37%. At market prices, that’s about €27-billion ($36 billion) worth of physical gold bars. According to the Financial Times, it will be the biggest planned gold transport on record.
Greg. Interviews like this is why I check your site before I check my emails. Great job.
Thank you JC!
Greg
A friend of mine in Bahrain told me last fall that the Saudis had repatriated their gold
held at the FRBNY very quietly. That Germany’s gold becoming unavailable at the same time seems a little too coincidental. The cupboard is bare and playing musical vaults seems to be over.
People are starting to compare notes.
Greg I love your interviews with Rob Kirby. He carries the weight of real world truth that your other guest simply do not have.
When Barclays, JP Morgan Chase, HSBC, and the other western banks left the commodities market in Asia a month ago, that should have been a signal to the west that something was wrong. According to my source ( I hate to say it again) they left because they no longer had any Gold to trade with. What does that tell you?
Greg the Chinese know the western banks don’t have any more Gold, and that is why they are starting their new exchange system in Shanghai in mid July. Americans seem to be the only ones who believe we can continue to print money with impunity. Rob Kirby is absolutely right in his predictions. The cartel will try and turn the table over between now and mid July by starting a conflict with Russia in Europe. The German auditors Baffen ( I’m not sure of the spelling) are getting to close to uncovering the truth, and they simply cannot afford to be exposed.
Greg, as I have already stated, we have moved from paradigm shift mode, to reset mode in a matter of months. Do I think July 15 the is “the date”? I’m like Rob Kirby, I don’t know, but the elephants are beginning to smell blood, and I wouldn’t want to be caught in the stampede as they go through the door.
The prudent thing to do is prepare now like its tomorrow and not worry about it. Those that don’t believe it. Go ahead and roll the dice. Only know this… you’re betting with your life and you won’t get a second chance. Not a smart move at all.
@Jerry : Some predicted several years ago an economic hurricane is out at sea. You can see the waves churning but not sure when it hits. When it hits land there is little to no additional preparation that can be done as the winds quickly roar up to 100 mph. Either you’re prepared or you are not..
I still hope we never see that day but from your recent posts it looks like the Piper is asking for payment.
With Common sense out the window, Gold holding chatter won’t matter…
Extraordinary interview.
US has no gold…the Emperor has no clothes…He has the gold rules
As foot loose and fancy free as the Government and their bankers have been with our money, I wouldn’t be terribly surprised if Fort Knox had a bunch of empty vaults. That being said, I think it would be a very difficult secret to keep.
Kirby says he doesn’t trust the US government so much he won’t cross the border. There cant be a warrant out for him as he could be extradited from Canada. He’s probably correct that he could have problems once he’s here…NDAA black bag over the head and you’er gone.
Martin Armstrong said something about government would try to tax everything to increase revenue. While I disagree with much he said, here is proof that this is true: http://www.newsmax.com/Ira-Stoll/IRS-Frequent-Flyer-tax/2014/05/27/id/573459/?ns_mail_uid=80777463&ns_mail_job=1570788_05282014&promo_code=rrktgfwa
500
If Fort Knox has Gold, why not trot it out for the world to see? I’m betting you’d find dusty shelves, that have been there since the Nixon administration when we went off the Gold standard. As far Fed taxation. Its like talking about the window curtains on the Titanic. 🙂
Jerry;
the jackass reports, cliton, rubin, summers raided the gold reserves.
Greg, a truly exceptional interview! Mr. Kirby’s depth of integrity speaks volumes.I felt that come forth from his response to timing of this coming collapse. fyi…I’m always interested in supply chain management…and on the local level (at both a feed store and a grocery store yesterday) in talking with the managers both are seeing a huge breakdown in what is ordered and what gets delivered. There are major delays – the feed store wont’t have oats for at least 2 weeks maybe longer. So we all need to plan accordingly realizing this system is collapsing too.
Felicia,
As Mr. Rickards said all we need is that “snowflake moment.” Thank you for weighing in here.
Greg
Greg, this may be Mr. Kirby’s snowflake moment…the dustbowl is once again coming into Texas, Oklahoma, Kansas & eastern Colorado. And with the major drought in Cali, food prices are only beginning to go parabolical.
http://theeconomiccollapseblog.com/archives/dust-in-the-wind-dust-bowl-conditions-have-returned-to-kansas-oklahoma-and-north-texas.
Felicia,
It is shaping up to be the perfect storm on all fronts.
Greg
Remember these drought conditions when buying groceries. When you see a good deal on canned goods, STOCK UP!! Also, learn how to can!!
Great interview with Rob.
But, would have liked to hear Rob’s take on owning Gold/Silver mining shares in addition to just ounces of Gold/Silver.
Wonder…. can you obtain Rob’s take on owning G/S mining shares?
Let me try to explain why mining stocks are viewed by gold bugs as inferior to holding precious metal: First and foremost, the physical metal trade is predominantly done in after tax cash money – with no paper trail. Stocks of any kind – are almost exclusively transacted in brokerage accounts with extensive paper trails. This difference is THE reason why governments [who exist to confiscate wealth] HATE physical metal.
Next issue – in ALL jurisdictions around the world – mineral deposits are “owned” by the countries in which they reside. Mining companies are granted “licenses” to work the deposits Licenses may be revoked at any time. Additionally, because mineral wealth is considered “sovereign” in all international jurisdictions – royalties are customarily imposed on anyone “working” a deposit. Royalties are a TAX that can be raised at the whim of politicos.
When gold prices “skyrocket” – it necessarily means that fiat currencies aren’t doing so good. Traditionally, the implications of this – as expressed by politicos – is that “speculators” in metals are making-out-like-bandits and they should be PUNISHED – meaning increased taxes on mining cos or additional taxes on capital gains from those who bought mining shares – all of which have a paper trail and are EASY to tax.
This is meant as a PRIMER as to why physical metal is attractive relative to mining shares.
Best,
Rob Kirby
Thank you Rob for coming on and answering questions.
Greg
The ultimate unanswered question……
…..so where is ALL THE GOLD ? . . .
Greg,
So many catastrophic timelines are converging in the near future. Makes one wonder which coming calamity will bring about the seemingly inevitable collapse of our civilization. Will we be done in by:
Cyclical climate change that the Geo-engineers through their weather manipulations are desperately attempting to mitigate, or accelerate?
Resultant crop failures that will collapse food production and bring about mass starvation. Is GMO another desperate ploy to maximize food production for the masses or is GMO an insidious plan to depopulate through diminished nutrition that results in soaring rates of autism, diabetes, and infertility?
Worldwide financial market panic from the revelation of empty gold vaults and the subsequent price manipulation and that will simultaneously burst the numerous financial bubbles that the FED and its co-conspirator “banksters” have artificially inflated.
A Geo-political event in Europe, the Mid East, or even in Asia that the puppet masters will find too profitability tempting to let pass without unleashing the war dogs. Leading to an exchange of nuclear weapons that will reduce the worlds population by the desired 90 – 95%. A much quicker solution than waiting for the climate or failing food system to do it for them. Although there would be less risk of messy rioting and civil unrest which might prove to be difficult to contain, exposure to radiation could be problematic. Billions of rounds of ammunition for DHS, FEMA (the IRS?) and the militarization of the police is preparation for what exactly? Lets not even get started on the puppet masters to use “false flag” operations.
What is so sad is that so many in the first world have become bound by the chains of “techno-feudalism”, consumerism, and the myth of entitlement. We (millennial’s especially) have become so distracted and dependent on the latest technology “toy” that we are completely unaware of what is occurring outside our social media bubbles.
Through the insidiousness of globalization we have become parasitic consumers, destroying our potential to realize what we used to refer as “the American Dream”. The American economic middle class is quickly becoming an endangered species as “blue collar” jobs are exported overseas to countries with lower wages and far less regulation. In order save a couple of bucks to spend on yet and another consumer “want” we shop at stores that we rant against for their low pay and minimal upward mobility. To me this behavior is not only hypocritical, it is parasitic. Unions and government are also complicit as they have conspired to make it more desirable for large corporations to ex-patriot their production and make it nearly impossible for the renowned small business machine of America to provide employment and still make a buck for the risk taking owners. While globalization provides us a small “benefit” from cheaper prices for us as consumers, our benfit is miniscule to the immense financial rewards reaped by the notorious “1%’ers”. America is rapidly becoming a stratified society of a few “haves” and a multitude of not only “have nots” but of “will never haves”.
Finally, as a society we have embraced the false belief that we are some how entitled to free stuff from our government and will only vote into office those that promise us the most “free stuff”. Ben Franklin proclaimed that “When the people find that they can vote themselves money, that will herald the end of the republic”.
Greg, you have such a wonderful site where you and your terrific guests provide people the opportunity to see for themselves, the “man behind the curtain”. All we can hope for is that more and more people will see the real world through the “matrix” that is designed to deceive us. To quote another well-respected herald of truth, “Make ready for what is to come”.
Greg,
Since Rob is Canadian, I wish you would have asked him about the Canadian dollar. If the US dollar goes down, will Canada’s currency be ok, or are we all so interconnected that the whole thing crashes.
I think all currencies will go down with the dollar. The key is which currency can regain its credibility the quickest after the global reset.
Nations with abundant natural resources like Canada should recover rather quickly. China has to establish its credibility by accumulating a lot of gold. US and UK will have a real hard time adjusting since they will be blamed for the epic collapse.
The window is still open to resolve this matter/manage this collapse without the risk of war if US would allow more IMF voting power to the BRICS before the end of this year.
Its not just the central bankers and ruling class who are fully committed to this fraud and willing to do whatever it takes to keep their head above it, its all of us peons who sit on our hands with our thumbs tucked up high in a dark place while we pour our wealth into their crooked system to the point that we now will go along with just about anything just to get SOMETHING back. Thats what really scares the hell out of me, the entire “baby boomer” generation, a huge swath of our population, is so terrified and committed to this that they will chop up their grandkids and throw them on the fire if that is what it takes, and they will swallow whatever lie they need to in order to assuage their conscience. And to anyone who would huff and chuff at such a thing I merely ask you to look at how it is we got here, we walked right up to this point as a supposedly free people, one step at a time we took for decades and did not so much as blink much less even think about not taking that one more next step.
Jeff Berwick says it crashes with the U.S. dollar. Makes sense as the Bank of Canada holds U.S. treasuries and no gold.
Berwick is a smart guy.
Greg
Great interview Greg.
Mark Twain’s saw about bankruptcy is perfectly true.
So slowly at first, then lightning fast, to paraphrase.
I had a business venture once that went exactly that way(Exim would not pay during
Gulf war one)on goods sunk in the Kuwaiti port.
The US is exactly there ,when the creditors finally say enough is enough, and pull the plug.
I mean really lightning fast when it finally happens.
You have no time one it starts.
Greg,
I am new to your site as of this year. I have been following your news daily. The information that you deliver is paramount to today’s American citizen. This is the kind of information I “gave up” looking for on the major news networks. Thank you and please keep delivering the THRUTH…
Wayne,
Thank you for your comment and support. Welcome to the “Red Pill” world.
Greg
Thousands of years ago, the creator saw our future as we live it now. The book of Isaiah 3:5 states that ‘Evey Mans Hand Will Be against His Neighbor’ and this will be a VERY horrible thing to TRY and livet hrough. This is mankinds own fault for not listening and following our creators instructions. Of coarse we also know about the fallen angels who try and decieve mankind.
Bob,
One thing is for sure, a great deception is going on.
Greg
Bob
in the two thousand years, this has been true many times
Greg,
The US’ actions should be very suspicious to other countries in terms of whether they have any gold. The fact that it will not allow an official audit at Fort Knox, and the fact that the US government has been fabricating instability in other countries to justify interventions – the real reason of which is to pillage its resources, and prevent countries from moving away from the US$ or force non central bank countries to use the US$. We did this in Libya, and removed tons of their gold in the process. We did this recently in Ukraine, and removed their gold.
http://chasvoice.blogspot.com/2012/11/the-us-nato-gold-heist-of-libya.html
http://21stcenturywire.com/2014/03/21/the-latest-heist-us-quietly-snatches-the-ukraines-gold-reserves/
Now, US is sending troops into various countries in Africa for more fabricated reasons. The true reason, of course, is to prevent the Chinese from gaining a financial foothold with their business deals and infrastructure development projects, and continue the rape and pillage. So, sad to say, but I totally agree with Mr. Kirby. The US has no gold, and America is lurching towards a collapse this year!
Greg, this was a fine interview and I agree completely with the assessments of Mr. Kirby. The derivatives markets are truly ominous as they are so large and extremely leveraged. Yet, it is because these derivatives are so obscured and hidden from our eyes, that I suppose we cannot be as frightened of them as the other demons that we can see in the full light of day.
This is what I mean: Our highly visible markets (NYSE, COMEX, FOREX, LIBOR, Treasury Auctions, etc.) are all mostly rigged and manipulated by the same government folks who give their official seal of approval that all is legit and AOK.
Thus, it seems quite obvious to me that ALL markets, derivative and regulated, are all based on lies and various degrees of deception.
The debt, equity, currency, precious metal, and most other markets are not operating as free markets, thus the American citizen does not know who to trust or what to believe. Added to that, what kind of other deceptive activities could our government be engaged in that involves more than just stealing money in the marketplace? Hmmm, I wonder?
We also know that the MSM, that are supposed to give us the true facts and news, are also complicit in all the lies for some nefarious reason. I suppose we will never know what’s really going on, just like we don’t really know what is secretly happening in the derivative markets which will probably blow up some day and impact all of our lives.
I have a simple philosophy when it comes to life: Either unintentionally or deliberately, that tyrants and authoritative characters will always manage to make things worse as they tell us it is for our own good. I cringe when I hear about more government regulations, especially when it’s to help save the planet.
It’s up to each American to think on their own and to take care of themselves, as it is obvious that we are living in dangerous times as the lies and injustices to our liberties are becoming more bold and magnified.
As important as it is to make the practical preparations for the coming dollar collapse and global reset, I think it is even more essential to distinguish in our minds about what is true and absolute from those perceptions that are false and contrary to reality. Our material possessions are only transitory, but truth and the human spirit never dies. Of course God has been largely replaced in our schools and culture by materialism and environmental secularism!
Greg, Wow! That’s all I can say. If this interview doesn’t ” Scare You Straight ” nothing will. Thanks.
Your timing. having Rob Kirby on as your guess couldn’t be better. He is not an alarmest.
He speaks clearly and to the point and gives solid reasons for preparing for the inevitable destruction of the dollar.
BRICS, a new global player in the making
BRICS means ……
25% of the world GDP (measured in PPP of national currencies)
30% of the Earth’s territory
45% of the world population
http://i.imgur.com/WTliZ9Y.jpg
COMMON INTERESTS OF BRICS NATIONS
Desire to reform the outdated financial and economic architecture of the world which ignores the growing weight of BRICS/EMDC
Common commitment to principles and norms of international law, rejection of policies of armed pressure and infringement upon sovereignty of other nations Common challenges and problems related to the needs of modernization of economy and social life
Mutual complementarity of a wide range of sectors of national economies.
http://indonesia.mid.ru/documents/1685590/0/BRICS_A_NEW_GLOBAL_PLAYER.pdf
USA hamper the development of the BRICS.
The US global GDP share is constantly going down. According to World Bank, the its contribution was 21, 6 percent in 2011. To extrapolate the trend on the next ten years the US chunk of world Global Domestic Product is to dwindle to 14, 6 percent (according to the World Bank’s estimates)
According to World Bank’s data, if the 2001-2011 trends of economic growth continue to take place, then some countries will have the following contributions to the global GDP in 2021 (percent): China-26,52, Russia- 7,38, Brazil – 7,27, India – 4,55. The total share of the four in the global economy will be 46 percent at the beginning of next ten years. Around a quarter of votes in the IMF could belong to the four countries all situated outside the «gold billion». It’s about the same share that falls on the United States, Japan and some leading European states today. No doubt the West does not want it to happen!
That’s the reason why the BRICS countries intend to create a more equitable development Bank – similar to the current IMF.
That is why the BRICS abandon the dollar and switch to payments in national currencies.
http://www.strategic-culture.org/news/2013/09/04/will-west-let-ship-called-imf-sink.html
Greg,
Fabulous interview. The over-all tone of the majority of Guests are ratcheting up significantly. (Fabian Calvo is getting tense lately.) Precious Metals are being smashed again as I write. I wrote Jim Sinclair that these Elites will never stop – until someone else stops the game. I don’t even believe the posted prices anymore.
I think Kirby answers WHY Ms Merkel is so staunch an ally with the US: Germany’s fate is tied to the Dollar. Why she would politically back the US even against all her big business interests that DON’T want to antagonize Russia is answered. Watch to see if BAFFIN (sp?) is allowed to continue ; or goes the the way of the CFTC. The analogy of someone who overturns the game-table when they lose the game is scary, but believable too.
I wrote a salute to the “old-timers” on occasion of Memorial Day; but here I wish to congratulate the newer commenters on this site. Many new people are showing good stuff; and a good attitude. The Guests are great: but you commenters flesh-out the real world to this site. Reading comments makes a real “boy-and-girl” completeness.
And Greg – if this is “Red Pill world” – where does the analogy place you? You would be Morpheus: the most dangerous person on the planet? Stay strong.
Charles H. Yes I’ll play the “Morpheus” role. I consider that a big complement!! Thank you.
Greg
Sergey LAVROV, Russian Foreign Minister: “Enshrined in the UN Charter the principle of unanimity among the five permanent members of the Security Council in fact meant capturing the Concept(!) of a multipolar world. The cold war brought it to bipolarity. Now everything is back in place.”
Zbignev Bzhezinsky : “After the destruction of communism America’s only remaining enemy is Russian Orthodoxy.”
Sergey LAVROV: «As regards the content of the new stage in humankind’s development, there are two basic approaches to it among countries.
The first one holds that the world must gradually become a Greater West through the adoption of Western values. It is a kind of “the end of history.” The other approach – advocated by Russia
– holds that competition is becoming truly global and acquiring a civilizational dimension; that is, the subject of competition now includes values and development models.»
Zbignev Bzhezinsky during his report to the “Chatham House” during his big lecture stated the following: «Today it is infinitely easier to kill a million people, than to control a million people. It is easier to kill than to control»
http://www.youtube.com/watch?v=CaMonYzPO0c
Paul Craig Roberts – the Assistant United States Secretary of the Treasury under President Ronald Reagan. Professor of Economics, former Deputy Minister of Finance of the United States, Deputy Editor of the “Wall Street Journal”, “Business Week”: «The US is in the grip of the Neoconrsevative / war- ideology which has declared the US to be the “exceptional, indispensable country” chosen by history to exercise hegemony over all others. This ideology is buttressed by the Brzezinski and Wolfowitz doctrines that are the basis of US foreign policy»
http://www.paulcraigroberts.org/2014/05/25/war-inevitable-paul-craig-roberts/
Zbignev Bzhezinsky: “The new world order in case of hegemony of the USA is created against Russia, at the expense of Russia and on wreckages of Russia”
Sergey LAVROV: “All of America’s friends — and we regard ourselves as ones — should help the United States to make a “soft landing” in multipolar reality. I am convinced that the idea to develop the Euro-Atlantic arena as an entity based on trilateral collaboration between Russia, the EU, and the United States across a broad range of issues would facilitate this task. This collaboration is already taking place in various configurations with the involvement of other countries and organizations. It is important to ensure the steady dynamics of this kind of collective leadership. In relations with the United States, we find ourselves recalling the proverb that “a friend in need is a friend indeed.” How should America’s true friends behave in the prevailing situation? Two scenarios are conceivable. First: Put a shoulder to the wheel and unconditionally participate in all America’s ventures. Second: Take a principled stance proceeding from the true interests of partnership and international community in general. Briefly then, we should be telling the truth. As Chancellor Aleksand Mikhaylovich Gorchakov pointed out in his day, “the best way to live in full accord with all governments is not to conceal our thoughts.” Not everyone will dare to take this stance. Therefore, this burden is for those who can bear it. Russia does not aspire to the status of a superpower, including an energy superpower. We are absolutely happy with what we have: The position of one of the world’s leading states. We do not want others to obey us; we want them to listen to us and to take our opinions into account. Russia has no interests that are incompatible with the international community’s interests. We will not allow ourselves to be drawn into confrontation. We are ready to work with others to create a just and democratic world order that guarantees security and prosperity for all, not just for the chosen ones.”
http://www.america-russia.net/eng/geopolitics/148609180
“America as the No. 1 warmonger”: President Jimmy Carter
http://www.salon.com/2014/04/10/america_as_the_no_1_warmonger_president_jimmy_carter_talks_to_salon_about_race_cable_news_slut_shaming_and_more/
«The psychopaths, sociopaths, and morons who prevail in Washington are leading the world to destruction.» Paul Craig Roberts
http://www.foreignpolicyjournal.com/2012/06/30/can-the-world-survive-washingtons-hubris/
I believe it is BaFin, short for Bundesanstalt für Finanzdienstleistungsaufsicht. There’ a tongue twister, for you! In English, “Federal Finance Supervisory Authority”. They have a website http://www.bafin.de/EN/Homepage/homepage_node.html.
Am I crazy? I think we are witnessing the birth of a new Gold backed Yuan exchange system in Shanghai. The dots are beginning to align.
http://www.forbes.com/sites/kitconews/2014/05/27/china-looking-to-dominate-gold-market-with-international-shanghai-gold-exchange/
Greg
the first sign of weakness is you have to tell people you arent weak
I’m NOT WEAK: Obama answers critics in West Point speech and insists the US must lead the world by example — ‘If we don’t, no one else will’
http://www.dailymail.co.uk/news/article-2641713/Im-NOT-WEAK-Obama-hits-foreign-policy-critics-vows-ramp-support-Syrian-rebels.html
“For lack of a better term, you’ve got an organized crime syndicate,” a whistleblower who works in the Texas VA told The Daily Beast. “People up on top are suddenly afraid they may actually be prosecuted and they’re pressuring the little guys down below to cover it all up.”
“I see it in the executives’ eyes,” the whistleblower added. “They are worried.”
The current VA scandal broke in Phoenix last month, when a former doctor at a VA hospital there became the first whistleblower to gain national attention. The doctor’s allegations of falsified appointments—and veterans dying while they waited for treatment—unleashed a wave of similar claims from VA employees nationwide. In Cheyenne, Wyoming, Chicago, and Albuquerque, more VA whistleblowers came forward claiming that the same fraudulent scheduling was being used in the hospitals where they worked. At last count, the VA inspector general’s investigation had expanded to 26 separate facilities.
http://www.thedailybeast.com/articles/2014/05/27/exclusive-texas-va-run-like-a-crime-syndicate-whistleblower-says.html
Good stuff 500!!
Greg
I have no trouble believing this. Why?
When it comes to individual disputes against the government, the strategy is to try to outlast the claimant. Whether it’s a land dispute, healthcare, or any other dispute, the government banks on the individual either running out of money to fight, or getting old and dying before collecting. Examples of this are everywhere if one bothers to look.
We must wonder if the VA system forebodes what Obamacare is to become?
I think the catalyst of the next financial crisis, will be cost of oil: if it exceeds $150 per barrel. In 2008, oil reached $147, so it was only one of the many factors that triggered the GFC.
Since money will essentially be worthless I have made it a point to max out all my credit cards and have taken out a second mortgage on my house for $150,000. I don’t know why more people aren’t doing this. Extreme faith in the fiat dollar I guess. Me, I’m living the high life and have my gold for when the future unfolds, as it inevitably will. Cheers to you, Greg, your awesome guests, and your readers!
That is pretty foolish. There will be no jubilee. You will be held responsible for your debt. You will continue to send payments to your servicing company or they will take your collateral. And with variable rates you will never get out of debt, and that debt will be passed to your heirs or they will seize all of your assets. They know you have metals since you bought it on a credit card, so they will take that from you too. Rookie mistakes. Better bury that metal and hope they don’t torture you for it’s location.
Woody…NO one will be coming for the debt.
With what is coming, it will be the last thing anyone will be worrying about.
See, this thought process occured to me a few months ago, when i realized inevitably, savings or debt, its not going to matter. zero will be zero at the implosion, but the only danger is finding out that this “collapse” is actually a slowly degrading economic crunch. in which 60-70% of people whose “noses are on the fiscal grindstone” will slowly lose everything and be financially destroyed. i hope this isnt you, of course, if it is that slow, you could always try to recoup your losses in the raised gold demand/prices. Majorly, this economic situation is a ticking timebomb, with no way to see how much time is left.
Yep, I would be very careful running up much debt. Remember it was predicted that the SHTF back in 2009, 2010, 2011, 2012, 2013 and now 2014. Eventually the SHTF but so far its been a very slow moving economic train wreck. Nothing says this can’t go on in some state for another 3 to 5 years while the metals remain suppressed. Maybe 2014 there is a crash but the metals remain at $20 and $1,325. So I would be very careful to expose yourself to debt unless you’re willing to risk it all in a bankruptcy.
Typical BS from ABC News…sorry, propaganda
http://abc11.com/politics/14-arrested-after-sit-in-at-legislative-building/79538/
If she makes $400 a month then her children’s medical care and prescriptions are free. Why are they free? Because when they were $3, the parents wouldn’t pay three dollars for medicine for their children…it cuts into their cigarette and beer money.
But ABC, knowing its BS puts it in an article as fact…And this is why we have no gold in Ft Knox. We spent it on breads and circuses to keep those democrat votes coming.
Crystal Price, 27, of Greensboro said she decided to participate because she’s is struggling to take care of her family on a minimum wage salary. Price has cervical cancer and prepares hamburgers at a Wendy’s restaurant. She said she makes $400 a month and has to decide whether to pay for health care for her two children or herself.
For them to go to the doctor to get a physical, to go to the dentist … I have to decide, do I get me done or get them done,” she said. And she said she always chooses them, but it’s a struggle.
She said she is uninsured and has to pay all of her medical expenses out of pocket, she decided to participate in the sit-in because she wants things to change.
And oh, she gets her care for free too
Crystal Price isn’t working full-time or else she would be making $1256.67 per month on minimum wage. I calculate she averages 12-13 hours working a week if she is making the Federal minimum wage of $7.25 an hour to get her $400.00/month she claims she is making. I know Wendy’s pays at least the minimum, usually $8.00 to $8.50 per hour to start, which means she averages 11.5 hours per week at $8.00 per hour. So she works a couple of hours a day, or a couple of half shifts twice a week. Maybe it’s due to her cancer that she can’t work more, but she should qualify for Medicaid or Medicare disability if that is the case.
Although it looks like she can afford tattoos, but not dentistry or medical care?
That neck tattoo looks pretty dark/fresh to me!
I don’t like picking on the working poor when we have white collar crimes going unpunished and major off-shoring of good paying manufacturing jobs, but some people really don’t want to work.
What bothered me is shown is protesting for a higher min wage and declares she has to decide whether to buy food or medicine. It seemed likely untrue. I am not picking on the working poor…I was attempting to point out a likely untruth.
Greg, I work in a hospital and the other night I sat down and ate with one of the ER doctors. I was shocked to hear what was coming out of his mouth (at least SOME people are aware of our country’s dire situation). He said that our federal government is bankrupt. I told him that I was in total agreement with that statement, but that I was very annoyed at the fact that the government will not be honest with the citizens and say so (say “we’re broke and we need to start all over”). His response was “well, they can’t, because if they did all hell would break loose.” Thinking about that, I realized that maybe he is right. I told him that I was very disappointed in how many people in this country have developed a major welfare mentality, thinking that the federal government can provide for their needs. He even shocked me further saying that down the road Social (In) Security and Medicare will be nonexistent.
Working in a hospital I both feel and see major changes in progress (NOT good ones). Budget cuts have been made and continue to be made. Quality of care is going down. My hospital has hired doctors (contractors), many of them from India, who are overworked and underpaid. Some are not so well educated, and they are like a “jack of all trades.” Specialists are going by the wayside. Things are changing and will continue to do so.
Harry,
Unfortunately they started doing the exact same thing with the military over ten years ago. I used to have an air force specialty code (AFSC) which I was responsible for becoming an expert on general purpose vehicles well it wasn’t but a few years in that they consolidated many maintenance AFSC”s simultaneously removing that same AFSC’s re-enlistment bonus. It has been said for a long time that NCO’s are the back bone of the military, well this country will have a hell of a hot mess when they break the back of the military with all this Shiite on the horizon.
22STS knuckle draggers
More scary shiite
Obama authorized military to shoot citizens
http://www.washingtontimes.com/news/2014/may/28/inside-the-ring-directive-outlines-obamas-policy-t/?page=all#pagebreak
Inside the Ring: Directive outlines Obama’s policy to use the military against citizens
@Joseph re CAD,
The fifth column of all paper currencies are the currencies that are held at respective central banks as reserve “assets”. Canada is unenviable in that we trade a lot – 70%-80% of totals with the US. At last count we had around 40% of our central bank “asset” reserves in US treasury bills. What happens with all this trade is that our export sector companies exchange its USDs at the BofCanada for CAD and those companies end up with the exchange rate (some 8% difference at present) as a bonus to pocket for the exporter. So there is the concept of exported inflation (as basically a dollar in Canada buys the same as a dollar in the USA). And that, of course, adds to our inflation rate by the percentage of USDs coming into the country. But it gets worse! Those treasury bills are still 40% of the backing of the CAD along with some others like the euro, yen, rubles etc; PM Mulroney got rid of our gold reserves in the 1980s (again at the behest of the USA). So when (not if) the USD goes to zero, the CAD in theory would lose about 40% of its purchasing power for imported goods and given that there is a worldwide monetary crisis and global currency war reality, the “race to the bottom” process of our Bof Canada ALSO printing like mad makes this process doubly doubtful for the citizen saver. Really the question that none consider is: when those USA dollars become worthless how low does our currency ultimately go and what, given the deplorable morality shown to other countries this past decade or more by Washington, will the USA do for Canadian resources when we will not want to accept their currency? From the historical standpoint the USA has been the most hostile and warlike nation in modern times and I am afraid we have not seen the end of this history.
FWIW,
Galearis
What are you doing?
This is what I am doing?
I will reluctantly give some personal info to show what other middle class people can do.
Combined income 135,000
Mortgage
Leased vehicles 3
1 company vehicle
No credit cards. Not using them and am paying them down to Zero
Reducing cars for children leaving one for wife
Reducing Satellite TV by half or zero if necessary
Buying extra canned food now as a hedge for later
Reducing utilities by 25% by conserving
Buying silver twice a month at 300.00 a month now for a year and a half
Buying extra propane tanks for grill but keeping all but one in other locations for safety.
Purchased indoor propane heater in case it is needed.
Purchased bathtub sized water bladder just in case
Watching 401k in relation to any impending cash crisis and am prepared to pull trigger if necessary for cash and more metal investment.
Started to grow some basic vegetables in pots to become a bit familiarized with methods. It’s fun too.
Have a CC permit but have not purchased any weapons. !
Purchased a 2 million volt full sized flashlight taser for personal protection.
I save all personal hygiene products from hotel stays.
Have made a financial plan to create a list of bills and put them in order as to what priority they would be paid if the SHTF.
I do not obsess and I do not discuss this with anyone but some family of like mind who have shared concerns.
Eddie,
Good luck! Many of us would be estatic with 135k a year; most of us are at 13.5 k a year. Good luck….buy guns ammo etc
Eddie
you wrote,”Watching 401k in relation to any impending cash crisis and am prepared to pull trigger if necessary for cash and more metal investment.”
By the time you are aware of the crisis, it will be too late for your 401K. We have money in 401K s and we can’t get to it unless we leave jobs. Only a fool would do that at this juncture
Good luck brother…God speed
The 401k issue is a very delicate issue and yes only a fool would remove a substantial amount early unless it was a hardship or there was some logical belief that there was to be confiscation (Bail In). One can make a loan that is almost no interest if it is paid back but you would have to believe the money would be working better for you elsewhere. Employers do sometimes set the terms of the plans strictly. Mostly when there are matching funds. Whether there would be notice of a bail in beforehand is anyone’s guess. Also I am sure that the gov. would be anticipating the flight from IRA’s,401k’s and other investment vehicles.
This!
When you receive a quarterly report and your 401k funds are performing at 40% 26% 20% there is something systemically wrong and cannot be sustained. I would call this a bubble that must burst.
This is insanity despite how good it looks on paper.
You misunderstood. The foolishness was leaving a good job. When we left our jobs about five years ago, we cashed out and paid the penalty. I’d take everything out if I could.
I had forgotten about the loan feature. If you can afford to, my advice is to pull as much of a loan as you can stand. There have been several IMF white papers written about bail ins being needed in the US. No one is buying out Tbills. Mark my words, they are going to confiscate your 401-Ks and IRAs to pay for the have nots’ social programs. They will have no choice. And the Obamachrist has already said that it is unfair that the middle class has 401-Ks AND we are not really smart enough to manage our money. If that doesn’t tell you what they are planning, I dont know what will. By the time its announced, you’ll be locked in the govt confiscation plan. Oh, they’ll give you Tbills @2% redeemable in ten and thirty years but even today, the real inflation rate is ten to eleven percent. When this confiscation scheme hits, the real spending value of your money will be eaten away to nothing by the time you get it back. If you have a 100K and they lock it up for a decade, it will buy what a $1,000 does today (or less). Thats my analysis.
I dont sell investments, PMs, storable food & water, or guns & ammo. I do think it is wise to have large amounts of everything but the first. Unless the investment is paid off land. I also believe you need a pile of currency outside the bank for emergencies.
Spot on.
Greg,
I was wondering about this so-called new currency law that is suppose to start around July 1, 2014. Is this real, or is it hype and paranoia? If real or true, then what is it? I have heard a few things but have never had it explained (assuming it is real)….
Ugly,
I think you are talking about FACTA. I don’t know if this is going to be the “snowflake moment,” but it is not going to make people flock to the USD. Here’s the link: https://www.privacyrights.org/facts-facta-fair-and-accurate-credit-transactions-act
Peace
Greg
Hey gang you want to see something really funny. The U.S, Treasury according to its website
http://www.treasury.gov/resource-center/terrorist-illicit-finance/Pages/Money-Laundering.aspx
defines money laundering as ” financing transactions in which criminals attempt to disguise the proceeds, sources or nature if their illicit activities,
Check this out. How did Belgium buy 31 Billion in Treasury Bonds?
– Euroclear provides money to Belgium Banks to buy Treasury Bonds.
– Euroclear is a financial offshoot of JP Morgan Chase Bank.
– JP Morgan Chase Bank is part of the Federal Reserve Bank
– The Federal Reserve finances the Treasury with Bank Notes
– The Treasury prints and sells bonds.
Nope. No money laundering going on here! Yea right. Folks our government is so desperate to print money right now, that they’re buying their own bonds through phantom entities. This simply cannot continue. Their bag of tricks is empty, and the Chinese know it. Why else are they pushing so hard for this new exchange platform in Shanghai?
Let Austria go and inspect. To deny/delay by the USG will definitely bring worldwide loss of confidence in the US$.
Greg
one thing that worries me about our gold is that Obama is an appeaser. He could give the Chinese our gold knowing it would damage our country. He appeasers terrorist.
I am concerned because the only that Obama and his administration excels at is incompetence. And they are world-class at it. They out the CIA station chief in Kubal…whoops. They didn’t know that Obamacare’s software was crappie nor did they know you couldnt keep your policy or your doctor. They slept through Bengazi. They are currently investigating themselves on the VA scandal, Bengazi, Fast and Furious, the IRS and refuse to appoint a special prosecutor.
Mr . Hunter. I really appreciate all you do to keep us informed of the calamities ahead. I would like to ask a question of you or your readers if I might. I am soon to be 62. I have opportunity to build a new house. I worry about things coming apart in this country and hesitate to borrow money. My question is this: At my age and having little savings, what could possibly be my risk by borrowing? If this economic calamity does not happen for many more years, then I don’t see why debt would be a big deal. And more importantly, what if nothing ever happens? I mean no one knows for certain. If I sit by and watch and wait and nothing happens, I’ll be too old to accomplish anything with building a house. I want to do what is best, but I have put off investments in the past years because of fear. Now I just wonder if I’m better off taking the chance, than looking back in time and seeing I messed up once again.
Gerald,
If you are borrowing money you are taking a risk. If your payment stream is interrupted you will lose the house. By the way, this is not a “maybe” things will break, it is a “when.” If you dad a house that is paid for I’d stay in it but that’s just me. All the best no matter what you do.
Gerald
I agree with Greg. The reality is we will not make it out of 2014 without some type of economic calamity. The experts I’m listening to, say they wouldn’t buy a chicken coop right now. Survival should be top on your priority tree right now. Anything less is a gamble.
If building a new house would make you happy, and you can afford the payments going forward, build the house. Holding your breath and waiting for the wheels to come off the system has been the cause of much unhappiness for too many people.
I am 56. I purchased a newly built home in 2005 even though I knew there was a bubble. The interest rates were so historically low I felt I couldn’t go wrong. 9 years later I have much less equity that I thought I would have and have never borrowed on it. Rates are still historically low and values have only really climbed back a little while the dollar has depreciated. While my payment is in deflated dollars that is good if you can keep the home through trying times and plan to stay forever. I am now STUCK forever .
Lol . I have told the kids that if things go worse we will become a traditional nuclear family again. Power in numbers.
Greg
were you aware of this?
http://www.marinkapeschmann.com/2014/05/22/exclusive-too-big-to-fail-pension-insurer-agrees-to-liquidation-trust-in-rescap-ny-bankruptcy-is-a-taxpayer-bail-out-inevitable-or-will-millions-of-pensions-eventually-be-wiped-out/
OMG 500,
This is big. I can’t see how we get out of 2014 without a major event.
Greg
Good God Greg. This gives me the willies. My first thoughts go towards Obama’s MYRA’s and nationalization of peoples savings in whatever form they are in. The ponzi scheme can only get bigger so not to collapse. I think we are at the end of QE and Bailouts.
Eddie,
Time for Bail-ins and confiscation. Mark my words. The U.S. is not going to let the military run out of money while people think they deserve to be fat and happy in “retirement.” Everybody is going to find out that deficits do matter. Thank you for your comments.
Greg
anyone who reads or watches Greg Hunter’s material – they know that he delivers the truth. He was ejected from CNN for doing just that! In Greg’s former life at CNN he first endured the wrath of the “system” when he did a BRILLIANT investigative piece on the dangers of Depleted Uranium [DU] on American troops [veterans]. This brilliant piece cause a FIRE STORM with American leadership – who were severely upset that this truth had been reported.
Subsequently, Greg reported on the dangers of soft drink mankers [Coke and Pepsi] altering their formulas to include “TOXIC” substances. This story was spiked and he as ultimately FIRED for doing such TRUTHFULL, ACCURATE reporting.
Ironically, Greg Hunter now has a “Bigger Reach” and is watched and viewed by more people than CNN – his former “failed” employer – which is little more than an advertising arm of the criminals who have comandeered the leadership of the GREAT USA.
America needs more PATRIOTS like Greg Hunter.
sincerely and all the best,
Rob Kirby
Thank you Rob!! You are a great guest.
Greg
Hear, hear!
Rob,
Thanks for the info and interviews that you do. People like you and many others give credibility to the economic collapse coming….
Rob – (and Greg), Great interview today. I have followed Rob for a few years now – when he was a regular contributor on Financial Sense and Goldseek. Always sought his articles out because of the content and depth of information. Never saw anyone else post OCC data regarding derivatives and gold movement like Mr. Kirby – oh, and always loved those Big Fat Arrows that Rob puts on his charts that point to precisely where the chicanery lies and Who is doing it…
Looking forward to the next one!
Thanks for the information Rob. I knew Greg was forced out of CNN but never knew the why. Greg should do one of those “Daily Show interviews” where he interviews himself to talk about how the corporate media censors itself and controls employees. The best rule of writing/reporting is to write/report on what you know. Greg certainly knows a lot about corporate media blacklisting/railroading.
Greg,
Great interview,
You know with all the talk of the upcoming financial collapse wouldn’t it be nice if everyone had a sign to look for. That moment when we are on a rollercoaster and everyone sees the coming event and tells those in the seat with them to hold on for the ride. I hear snowflake effect and I hear black swan moment. This does nothing to keep me posted in everyday life. I need real world info as to where the signs are. Maybe no one knows…….
Hi Greg,
First time poster. Recently found your site and it’s been a wealth of information regarding the upcoming reset. Thanks for all that you do here. I am all the way down here in NZ (Hi to fellow countryman commenter, Col the farmer from NZ!)… but despite being so far away, we will certainly be affected by the USD collapse. I am curious to know your thoughts about how currencies like NZD will fare when the USD goes kaput? Will those holding USD scramble to buy foreign currencies like the NZD, increasing demand, allowing the NZD to retain its value? (In any case I am now investigating PM purchases as my “financial lifeboat”, and by the current indications I don’t have time to waste!).
76,
It depends on your countries exposure to derivatives. I would be skeptical of any currency. Sure you need some of your homeland money outside of your banks but as a store of wealth all of my guests are suggesting physical assets and that includes but not limited to gold and silver. My guests say for small investors coins are the way to go. If you are rich and bars are for you. I do not sell investments of any kind.
Greg
Greg,
I have been watching your videos for a few months, and recently started looking at your website. I thank you for bringing the information to the people that choose to listen. Your interviews are well done and very informative.
Was wondering if you had any information on the Gold and silver price slam that has happened over the past 48 hours. Have not heard what is driving that down. Although I find it very interesting that your recent interview with Netter(?), he mentioned having gold bottoming out around $1,100 in June or July(?cant remember specific month?). He might have hit the nail on the head.
Thanks again for all you do!
56,
Jim Rickards says not to worry about the price and so does Rob Kirby. You will either have ounces of gold and silver or you won’t when the crash happens. The priority is getting them as a core asset IF you can afford to hold it as an insurance policy and not a trade.
Greg
Agreed. The wife and I are trying to pay off our debts, but at the same time I try to scrape a few things together for emergencies…. including food, meds, water, security items, and some silver.
Once again…. thank you for the great reporting that you do!
Best Regards,
Vanelli56
56,
The time we have gotten is a gift and it sounds like you are using your time and resources wisely. Thank you for sharing.
Greg
I don’t see how owning Gold will provide insurance. You can’t eat gold. The majority will not own PMS and when SHTF, there will be a mad rush to hoard food which will become scarce. If there is no food what good will PM be. I think having food will be a better insurance policy than owning PM.
You cannot eat a $100 paper bill either. But look at history. Paper currencies have always lost their value and gone to zero. Name one paper currency in the 1800s thru the 1910s, besides the USD, that is used today. Gold and silver have always had value. That is why old coins still have value. Remember though, it is not all gold and silver. Someone can have value with copper, iron, or aluminum.
DWAIN,
PM’s is a long-term insurance policy. You should only invest in PM’s after you take care of water/food/security, in that order IMO.
Greg,
I am sure you saw news US economy contracted the last quarter. And of course they are blaming winter. I believe it was Roberts who said this would happen.
Greg, I lived in Michigan for 6 years, Yes you can be pent up for a while because of frigid winter stroms, but when those storms past people explode out and do things and spend money etc… It balances out!!!. And to blame to have a whole quarter that slid is a lie, thats 3 months, that cold had nothing to do with this last slide. I t has been trending this way for a long time!!
Pleas dont tell me that winter storms present in 10% of our nation caused this massive GDP to slide that much
And remember this is the “new and improved” GDP, they added certain factors this yeat to make it look better than it really is!!!!!!!!
Greg
Great interview. Thank you for keeping us informed.
I visited the Rense website recently and viewed an article about the State Constitutional Convention quorum which has apparently been met, and it MUST take place. I for one see this as way to change our entire system if necessary. The news media didn’t report it. Surprised….
From TRN News May 4th, 2014
The most important political development in 200 years was triggered last week, when the state legislature of Michigan became the 34 th state to demand a “Constitutional Convention” in the United States. Under Article 5 of the US Constitution, if 2/3rds of the states call for such a convention, (meaning 34 states) it MUST take place. During such a convention, the ENTIRE Constitution can be changed; nothing is off-limits. This would even allow the States to dismantle the federal government without its consent, and repudiate the debt which that government has incurred! When it voted for the convention last week, Michigan became the 34 th state, thus meeting the requirement.
Hey Greg and all,
This is how crazy media is becoming, Bloomberg Headline “Why the GDP Drop Is Good for the U.S. Economic Outlook”……“As far as terrible reports go, GDP wasn’t too bad,” reads the headline on the report today by Michael Feroli, chief U.S. economist of JPMorgan Chase… For more of the Comical Reporting the whole article is here. http://www.businessweek.com/articles/2014-05-29/why-the-gdp-drop-is-good-for-the-u-dot-s-dot-economic-outlook#r=rss
great work Greg been a fan for years keep it up your getting through
The MSM may be telling you that there is a drawdown in Ukraine, but this is simply not true. Check out the Cabal Apache helicopter flyover
http://youtu.be/T-3epDdL2wQ
They are clearly pocking a stick in the eye of the Bear trying to provoke it. And guess what? They will.
The local news is pushing chips and scanners for the elderly on the evening local news.
Putin to Obama,”I will smash puny Dollar into worthless ruble.”
Greetings Greg;
Hey Jerry, Now come on, I have worked like a dog, been building a gold plated Chicken coop this week. Welded Pipe, Rabbit wire, and even paint with a nice little house for a dozen. When the chickens are in, the eggs will roll. I am going to teach them to eat up the grasshopper plague coming to the west this year. Nothing less than a bear could break into my new coop. He would go in the cooler or the back yard spit. To Eddie, don’t mess around, a 22 for loose chickens and a 308 for bears in the form of a CORE 30 or AR 10. Lot of noise makers and some top of the line glass. Then go play with it. If you happen to live in a non free state, move out fast. I want those chickens to get the bugs in my garden to. Great lettus patch this year!
Kirby is intense, WOW!
It’s the “weather” excuse again that they are using. I doubt if anyone is believing this as Americans are now living from paycheck to paycheck each week.
How come none of the republican senator or congressman not ask Fed Chairman as to why we are not returning German gold?
Great interview with Kirby as usual. As someone that was formally in the financial arena, I can speak with authority the fraud is indeed deep. FRB was buying MBS long before QE was a household word. QE is really just ‘PR’ used by the banking elite. The ‘off the books’ trading arm of the FRB is the ESF (exchange stablization fund). For those interested, here is a pretty informed overview of the ESF.
http://www.zerohedge.com/news/presenting-exchange-stabilization-fund-5-parts-real-plunge-protection-team
Note: when formed in 1934 the ESF was run by the same guy as the OSS (predecessor of the CIA), and have no accountability to anyone but the POTUS. Gold was moved from the US via the ESF, you can google newsprint stories since the Johnson administration, they did actually report US gold expatriation transactions for a while in the 60-70’s.
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