Weekly News Wrap-Up 10.17.13

4By Greg Hunter’s USAWatchdog.com   (Revised)

The Democrats think they won the debt ceiling debate, but they did not–at least not in the long run.  Nobody won when you consider the fact the U.S. needed to borrow or print more money just to pay its bills.  We are running a trillion dollar a year shortfall.  Yes, I know the government said the latest shortfall was only $700 billion, but that is a one off accounting trick.  The sad fact is we are spending about $1 trillion more than we take in every year.  This gap cannot and will not go on.  That is the real problem, and Washington is not going to fix this because it will be far too painful.  Cuts will be needed, and there will need to be a few tax increases too.  We know that is not going to happen.  What is going to happen is the dollar is going to come under attack, and that is what happened yesterday.  When the dollar loses value, we pay more for just about everything.  On the other hand, gold jumped.  The world knows we are not going to fix this debt problem.  That is why China is calling for the U.S. dollar to be replaced as the reserve currency.

Here’s another reason why the Democrats did not really win.  When the smoke clears with this debt ceiling budget fiasco, there will still be a failing economy that needs to be propped up.  Obama Care, or the Affordable Care Act, will be front and center.  Yes, I know only one percent has been actually able to sign up, but that is just a computer problem.  The real problem will come when everyone realizes that you will be forced to pay more for health insurance to get less.  Poor people will be shocked at the deductibles and co-pays.  They will be much higher than anyone imagined.  As far as the subsidies go, where’s the money going to come from?  More debt will be piled on the tab.  Obama Care will be like adding a 50 pound lead weight to an economy that is barely keeping its head above water.  In six months, Republicans will be saying things like ‘we tried to tell you this was bad for the country,’ and Democrats will be running from Obama Care.  This will turn into an Obamanation, and many Democrats know it’s going to be a loser.  Talk of the Democrats taking back the House of Representatives is delusional.  That would mean the economy would have to get much better, foreigners will have to continue to lap up our debt and Obama Care will have to work and be a good deal for the country.  That ain’t going to happen.

 What are the Democrats going to do?  Play the race card, because they got no place to go.  Syndicated columnists to TV pundits are calling anyone who disagrees with President Obama racists.  And if you are African American and you disagree, you “lend their racism a sheen of respectability.”  Leonard Pitts, Jr., of the Miami Herald said that this week about Pediatric Neurosurgeon Ben Carson because he dared to criticize Obama Care and compare it to slavery.  This looks like the game plan, at least for the far left social fascists.  Funny how Democrats do not utter a word about Jessie Jackson, Jr., being jailed for several hundred thousand dollars in campaign funds being misused, while bankers steal billions of dollars and walk free.  

This brings me to the biggest story that slipped under the radar during all the budget battles in Washington.  It is the Iran nuclear story.  Now, the Iranians want to take a year to resolve the dispute over its nuclear program.  Iran says it’s for the peaceful production of energy and the West thinks they are stalling so Iran can build a bomb.  I do not think the West is going to give Iran a year to settle this question, and that includes Israel.  This is one gigantic wild card you need to keep an eye on because war with Iran in the Middle East will cause the global economy to implode. 

Join Greg Hunter as he gives his analysis on these stories and more in the Weekly News Wrap-Up.

There is also a new story out that JP Morgan Chase is NOT limiting withdrawals or banning international wire transfers according to Forbes.  Here’s the link:http://www.forbes.com/sites/halahtouryalai/2013/10/17/no-jpm-isnt-banning-international-wire-transfers-no-limits-on-withdrawals-either/

Comments
  1. Rev. William W. Joslin

    Greg, of all the videos you make, your weekend wrap ups are my favorite. I love all your interviews, of course. But, I always look forward to Fridays to hear your rundown on everything that is going on. I only wish I could get more people to pay attention. The sad fact is, when the people I know personally who are still asleep are shaken out of their slumber my the events that are coming, they will still be ignorant to the truth. They will spend more time finger pointing that taking an honest look at how we got where we are. Also, I think from here on out we are going to see things change pretty quickly. While I used to advise people to prepare for what is coming, now I tell them if you haven’t prepared by now, it’s too late. I would not want to just be waking up to the reality of what our future holds. And still, there’s so many that don’t get it. I don’t understand all the ins and outs of the stock market, the economy, etc… But, you do not have to have a PhD in accounting to realize that things can continue the way they have forever. We cannot keep printing money out of thin air and increasing our debt. If I owe $10,000.00 on my credit card and can’t make the payment, the solution is not to call my credit card company and request that they double my credit limit. They’d laugh in my face. We are a joke to the rest of the world and we are being isolated. And both parties, in my opinion, are equally to blame. Our freedom, standard of living and our whole way of life is crumbling right before our eyes and the masses are too glued to their smart phones to care. Sad. Keep up the good work Greg! I hope you have a nice weekend.

    • Greg

      You are very Kind Rev.
      Greg

      • Red

        Agreed. Your interviews are distinctly superior to the mainstream alternative, and my Dad and I look forward to your wrap-ups every Friday. Please keep up the terrific work and asking the hard questions, Mr. Hunter. Rgds

        • Greg

          Red,
          Thank you and your father for the support!!
          Greg

  2. Liquid Motion

    Greg,

    That certainly was “the week that was”. Great summation and I couldn’t help but notice the extra bit of passion you added to this week’s wrap. Y’all look ANGRY Greg !!!
    But much more KUDOS to you Sir for doing the patriotic thing.

    What we have in front of us is a Dysfunctional Government. They are in crisis mode. Clearly the CIC (President) is panicked. The divide between members on both sides and in minority is akin the Grand Canyon. That divide is driving a stake through the heart of the remnants of any USA cohesion. It is falling apart.

    Those that watch the MSM for news don’t get to see the full picture and perhaps only select excerpts. Here is B.H.Obama speaking at the conclusion of the govt. shutdown…….too good not to watch but listen very carefully ….lot in the space of 19 mins to absorb.
    One thing is for certain, he looks like a very concerned (as in my ass is torched and I got nowhere to hide) politician……

    http://www.politico.com/multimedia/video/2013/10/obama-on-debt-and-shutdown-deal-full-remarks.html

    some video afterthoughts about the President……”just yesterday (17/10) morning they let me know you were gone”…..

    What is the President thinking of….
    “I’ve seen fire and I’ve seen rain,
    I’ve seen sunny days when I thought they could not end
    I’ve seen lonely times when I could not find a friend
    But I always thought that I’d see you again”….when he speaks to the Gallery……????

    Best of weekends to you Greg.

  3. bob

    thanks greg, i’m tired of war! i think most of us are tired of war. the reasons are all lies and we need to bring everybody back. i do believe we are the problem of the world. i feel we were hijacked after kennedy, we were warned before this and the americans got fat and lazy, and now expect a free ride. a free ride on what? we have done ourselves in and it’s time to pay the piper! anybody 35years and older and the older you are the more guilty you are for letting this happen. nobody paid attention. for anybody voted into office to do the right thing for his/her country would mean not being re-elected. seems like a drug for the elected and a drug taken away cold turkey who was conditioned to believe in free stuff, let them take care of us. i learned a lot from my grandmother and grandfather about growing up in the depression, it’s amazing what they went through and it was no big deal to them. they never stood in soup lines, they depended on themselves and never lived outside of their means.

    • Galaxy 500

      I hate war when we are not allowed to win because of stupid rules of engagement. When we go to war, our enemies should fear us more than there Moslem jihadists masters.

    • Taboola la

      Bob, you said, quot, ‘we were warned before this.’
      Didn’t, Ike, have something, to say about this, giving the warning,
      like, beware of the, industrial, military, complex? We sure, liked Ike!
      P.S. We cant ferget, death and taxes and who will be in control, of the, drug(big pharma)/medical industrial complex, the I.R.S.! Like our man say’s, you cant, make this stuff up and we like him to, Greg Hunter, of USA/
      Watchdog! We cant make up, the GREEAAATTT Job, he’s do’in! Three cheers,
      Greg!!! Pip, pip and all that rot! keep sock’in it, to em! We got yer back, mate.

      • Greg

        Taboola la,
        Thank you for “having my back”. I need all the help I can get!!
        Greg

  4. Rodster

    As Gerald Celente likes to say. “Trade wars, currency wars, world wars. When all else fails they take you to war.”

    The jig is up and the US is starting to get the message that the world thinks it’s a failing Empire on it’s last legs. I would not be surprised if the US tries to destabilizes the middle east even more and bring a massive war that gets the Russians and Chinese involved.

  5. Ya ha bee bee

    Real reason, for Healthcare.gov, bottle neck & crash.
    Transparency, transparency, what transparency. More like trans-fat!

    http://www.forbes.com/sites/theapothecary/2013/10/14/obamacares-website-is-
    crashing-because-it-doesnt-want-you-to-know-health-plans-true-cost/

    • Ya ha bee bee

      Try again!

  6. Ya ha bee bee

    I give up!!! Sorry

    • Galaxy 500

      Sounds like Obama care 😉

  7. Oracle 911

    Greg
    Nice wrap up, but you made a little mistake, it won’t be Argentin, it will be Argentina, Zimbabwe, collapse of Soviet Union with option for Mad Max scenario (depending on place where you live, and Texas will be a nice place).

    Obamacare is unsurvivable catastrophe, unlike the single payer systems (usually part of social security), which are survivable.

    About racism and incompetency:
    Incompetency doesn’t care about race. Look at the G.W. Bush Jr, Benjamin Netanyahu, Francois Hollande or look at the Reggie Middleton or your examples.

    What do you think Greg?

    • Greg

      Bad it will be Oracle 911. That is for certain.
      Greg

  8. Amman

    “Jesse Jackson Jailed” has a Twang to it, doesn’t it?

    Obamacare is definitely “da Bomb” and if it doesn’t blow up the world/US economy, it will send a stream of dollars to Washington… which was the real agenda anyway. US $ to remain THE reserve currency through 2015 so… Zzzzzz!

  9. MAL

    Hi Greg,
    Does anyone remember my favorite episode of the Beverly Hillbillies. The one where granny got tired of all those Beverly hill nuts and decided to move back to the hills. She had Jethro cipher out her share of the Clampett fortune and went down to Mr. Drysdale’s bank with a wheel barrow and demanded her $15,000,000 ( in nickels, dimes and quarters, none of that dad blamed paper money). A gasping Mr. Drysdale tried to explain to her that he didn’t have $15,000,000 laying around and it would take weeks to get the money so granny went home and told Jed that that city slicker banker had squandered all his money on high city living. Mr. Drysdale and Miss Jane rushed over to the Clampetts to try to explain to them how banking works. They explained that people deposit their money and the bank lends it to individuals and businesses to help the economy. Jed being a wise man saw the wisdom in that so he decided to speed up the process. The Clampetts went down to the bank, drew out “a great big box of money” went up to the penthouse and started throwing it out the window. It caused riots and brawls down in the street before Mr. Drysdale and Miss Jane could stop them. I never dreamed that decades later “helicopter Ben” would implement Fed policy he learned from watching the Beverly Hillbillies.

    • Galaxy 500

      .now that is funny! And sar when you understand the truth in it

  10. Tim B

    I am re-posting this quote (with permission) from a Facebook friend concerning the affordable care act in action:

    “I just spoke to my health insurance broker and found out that next year our premium will jump to $608 for a comparable plan with a deductible of $3500 and a max out of pocket $10,000. Weren’t we all supposed to have affordable care? Our premium doubled and the maximum we would have to pay in a year tripled.”

    • Greg

      Tim B,
      Thank you for posting this on the site!!
      Greg

  11. k chu

    Hi Greg,

    This web site show China importing 2125 tons of gold this year so far.
    http://koosjansen.blogspot.com/

    Week 41 Shanghai Gold Exchange Physical Delivery
    Today the SGE published trading numbers from last week. The Chinese are not slowing down their physical gold purchases this year. Although the 2013 weekly SGE delivery record stands at 117 tons, last weeks physical delivery was 47 tons, which is above the yearly average of 41.7 tons.
    We saw a little rise in the premium on SGE spot gold, on 11 October it was 1.5 % over the international price. This week we saw premiums in India rising significantly, next friday we’ll know if the same happened on the SGE.
    Year to date physical delivery, which equals Chinese gold demand, is an incredible 1709 tons, net import is over 1000 tons.

    Overview:

    – 47 metric tonnes delivered in week 41 (left the SGE vaults), 30-09-2013/11-10-2013
    – w/w – 5.8 %
    – 1709 metric tonnes delivered year to date
    – weekly average 41.7 tonnes YTD, 2013 estimate yearly total 2125 tonnes.

    Source: SGE, USGS

  12. art barnes

    Greg, the reserve currency slide is heating up, with more countries all the time thinking what if we made the change, could it be possible, etc.?
    Every day now the discussion about the status of the world reserve currency is in one country news or the other. China wants it, we don’t deserve it any longer due to our having wasted our economy on $5,000 toilet seats, etc., but one must remember we got it from war and I’m thinking we will go to war to keep it. Iran seems like a good target as any. What say you?

    • Greg

      Art Barnes,
      I think you are on target. The U.S. is clearly in the process of losing its reserve currency status.
      Greg

      • Galaxy 500

        We were ok until the world realized we were no longer a country of laws. Even after the war of 1812 was lost, we still honored our debts even to England because we had contract law.
        Obama and his cronies have shown the world that we no longer are a law abiding nation. Would you loan money to a nation run by criminal pranksters and an AG that perjure himself and has an overt agenda not to prosecute the criminal bankers?

  13. Galaxy 500

    Greg,
    Kudos on this week’s wrap up. I see the JIM Chase clarification of their new policy. I think most people will not change and when things do get bad, there will be a delay to move from the limited account to a new one. Regardless to what those dishonorable lying bas$yards at Chase say, this is the first step of currency controls wallpapered over using an increased revenue model. JPM has covered itself with legal notification and the notification I read did not have any fine print that the customer has the ability to “upgrade” quickly.
    Remember that all the banks in Cyprus and Iceland told people everything was OK right up until you could not get your money. Believe the bankers at your own peril. While it is not feasible to have all of your money outside the banking system, you.should have two-three months locked in a vault or hidden in a unlikely place (research where burglars look as most people are simpletons when picking their hiding place) and tell no one you have it. If your spouse is a spendthrift, don’t tell them either or you will find your rainy day fund will be empty when the hurricane hits.

    • Greg

      Galaxy 500,
      Thank you for your involvement in this site!!
      Greg

  14. Bob

    If you had spent a $1,000,000 [million] dollars per day since the birth of Jesus Christ, you still could not burn through a trilion dollars. [about 700 billion. keep spending.]Keep in mind that a single billion 100 dollar bills weighs 10 tons [2o,000 pounds] and sits on 10 pallet boards as high as a grown mam each. It takes 20,000 of these same pallet boards of tightly packed %100 dollar bills to equal a trilion bucks. Several 747 Boeing passenger jets could easily park in this space taken up by these pallet boards. [We are talking many football fields here] Visualize 100 of these pallet boards packed with 100 dollar bills. [very large area next to semi trucks] and multiply these 100 pallets times 200 of them. HUGE, HUGE, HUGE area taken up here. We now owe 16,394 trilion dollars of national debt. How many stacks is this to the moon and BACK?? Your water bill seems rather small now——————-

  15. Stan

    Hey Greg,

    My $600 per month family coverage is being cancelled by BC/BS of Alabama on 12/31/13 because it doesn’t meet obamacare requirements. After several attempts I got a quote from the federal exchange for $1200 per month. That’s an increase of $600 per month with much higher deductibles and co-pays. What is going to happen to my other spending if we sign up? I can tell you we would have to cut back on everything else. No eating out, no vacations, no movies, no new car, etc. Talk about a lead weight on the economy. My plan now is not to sign up and starting 1/1/14 my family will have no health insurance. Instead I plan to still cut my spending dramatically as outlined above and put the 1200 per month into gold and silver…

    • Greg

      Stan,
      I am so sorry that you have been screwed by Obama Care. Thank you for your real world reporting you have posted here.
      Greg

  16. brian wilson

    In regard to this Iran situation, I remember Gerald Celente pointing out a long while ago, that generals always fight yesterdays war…….I think that if we get into a fight with Iran our military will be totally circumvented and direct “cyber” attacks will be conducted against our civilian infrastructure. The only real shooting in this war, should it happen, will ironically be the forces of our co-opted “government” against the herds of totally unprepared citizens groping around in the dark for a morsel to eat.

    We Americans need to wake up and realize the threat a nuclear armed Iran presents to us pales in the face of the threat that exists in the reality that corruption and influence peddling in our government have reached levels where it is no longer simply corruption but that our government in fact has been silently and gradually taken over by a witches brew of some of the most cold hearted, misguided, reckless, short sided miscreants that has ever been seen in the recorded history of mankind, and that these fools have backed themselves into an all or nothing position that they cannot and simply will not back down from.

    • Galaxy 500

      Iran wants a few nukes. I say let’s send them a few via ICMB , say 20, on two Minute man missiles. It would be hard to mount a cyber attack from the stone age.

  17. Exhausted American

    I’ve been private paying my healthcare premiums since 2008. I have no coverage for dental, eye exams or drugs. My premiums are 6k a year which has been a hardship to pay.

    With Obamacare, not only is my existing plan going away, but any new insurance plan is going to rise by thousands of dollars. I’ll have limited choices regarding doctors and hospitals, labs and etc.
    My deductibles are going to double. I’ll still be private paying for certain doctor visits and I’ll have the privilege of paying thousands more in premiums, for what? I’ll be insurance poor.

    My options are to go without insurance and hope for the best or Medicaid. Medicaid is a whole other entity that I need to investigate. Any way I go, it looks like I’m screwed.

    • gerald

      I know the feeling. This is soooooooooo sad for america

  18. Saint Laurence

    Greg underestimates one year deficit:
    U. S. Treasury = 1.4 trillion year

    http://www.treasurydirect.gov/govt/reports/pd/mspd/mspd.htm

    Federal Reserve‘s balance sheet = $3.6 trillion

    http://blogs.wsj.com/economics/2013/09/17/a-look-inside-the-feds-balance-sheet-16

    Governmental spending = 6.5 trillion per year
    http://www.usgovernmentspending.com

    • Greg

      Saint Laurence,
      Thank you for posting this on the site.
      Greg

  19. Galaxy 500

    Wow…read IMF story under Hunter ‘s top story. Scary stuff written by the elites. Discussing stealing from everyone with a positive net worth instead of suggestions to resolve the unsustainable welfare state. I don’t see how this can be construed to be anything other than a global body’s attempt at one world government. Why should the US support the IMF? They have tonnes of US gold as collateral at $35/oz.
    The seeds of our destruction are being sown by the UN and IMF and the US is paying a tremendous amount for our own subjugation.

  20. David

    I spent 25 years in healthcare software, 10 of those working for physicians in southern California. The last 13 years I worked in sales and marketing, specifically selling EHR (Electronic Health Record) systems. 3 years ago I left the industry and did a couple of cross country bicycle trips. I’ve never looked back. One of the last things I did was to attend a meeting of the California Primary Care Association as the (un)Affordable Care Act was being finalized. I was in a session with one of my colleagues watching a 200 slide PowerPoint presentation on what the ACA would look like. One of the slides showed the bureaucracy that was going to be set up, an org chart if you will. It looked like a street map of Los Angeles. Dozens of agencies with Orwellian names linked in a labyrinth. Any reasonable person would look at that and draw two conclusions: 1) there is no way that healthcare costs will go down and 2) there is no way that services will be delivered efficiently or at all. I looked at my buddy and told him that if I had children who were thinking about becoming doctors I’d encourage them to become consultants instead because those are the people that are going to make money, teaching doctors how to navigate the system. It was done tongue in cheek because what I really mean is that I wouldn’t encourage anyone to get into healthcare at all. This thing is going to be a disaster. I saw it coming years ago as government got their hands into more and more of healthcare delivery. They are going to kill 17% of the economy and a big percentage of the people who come in contact with the system.

  21. Jerry

    Greg.
    I deeply appreciate the work you do week in and week out on this sight. I wonder how many people who visit here really understand the depth of your reporting ?
    I find it somewhat humorous to watch some of your posters argue with you, who seem to be fixated with holding on to their false sense of securities with philosophical ramblings. Their time would be better served preparing, than holding out any hope that our course can be reversed.

    The fact is no country in recorded history, has ever pulled out of a financial collapse, when they have printed as much fiat currency as we have with nothing to back it up with. I’ll ask the question for the 20th time. If anyone has the answer on how to get out of this 120 Trillion dollar debt bubble without a collapse, I would really like to hear it? Mathematically it can’t be done, so quit arguing with Greg about whether there is going to be a collapse or not.

    As far as endless printing of money that I’ve heard about from other posters here, how long do you think that will last when the Chinese and Russians have been buying tons and tons of Gold to backstop the value of their currency? Not long I can assure you. Especially since they have already signed currency agreements with the European and South American Banks to replace the dollar.

    Don’t think just because it hasn’t happened yet that it won’t.
    Here’s a quote from Ernest Hemingway.

    How did you go bankrupt?
    Two ways. Gradually. And then suddenly.

    My first car I bought in 1968 I bought for $2500. That same car today would cost you $30,000. We’ve been boiling in the pot of inflation for quite some time. The only difference is we can’t print money to make up the difference the way the government does. Endless printing of money. Really?

    Thanks again Greg for all you hard work.

    • Greg

      Jerry,
      Thank you for the comment and for adding your perspective. I really like this line where you said, “How did you go bankrupt?
      Two ways. Gradually. And then suddenly.”
      When this finally falls apart people are going to be stunned at the pace of the fall.
      Greg

      • Allen Ols

        ….300+ million in just usa, and 100+million barely working 50+million using ebt cards, to lazy or can’t go fishing, grow gardens, soooo , we can see why ndaa was signed by dems and rep. and the gov. can comfiscate farmland, trucking, shipping etc. Then we have big sis janet assuring us; not IF but WHEN a cyber attack on our grid will happen, and sicentists warning not if but when yellowstone volcano will spew 10 ‘ of ash over our bread basket see s.h.t.f. web site; I think keeping a 3 year supply of food, fuel, and chickens, rabbits, some bullets,

        But most of all faith in Jesus Christ upper most

        FOP at USA WD

        Alols

  22. Coalburner9

    Greg;
    Good Job! Good feedback!

    One point brought out about the IMF has been on my small mind for a while. They are making some scary statements in the West but you never hear the rising east mention them much. The new BRICS Bank they are structuring to meet the same needs for the other half that the IMF once did before it’s turn to attempt hegemony over the whole western world makes me wonder how they(IMF) will control more than us.

    Are they going to try to take us to war with everybody or try to keep us all from escaping to the eastern world. A good question for Dr. Jim Wille if you do not have better ideas.

  23. Ugly

    The demise of USA is no simpler than this.

    Since 2004, our US Dollar has been indexed between 78-84. We have been well below 90 for 9 years now.

    So, for other countries, of course they would ask.

    1. Why should we use the petro-dollar when its currency is valued at 80, along with a heavy debt load?

    2. Why use the dollar as a world reserve currency when its index is 80, about 15-20% less than ours.

    Good questions. Thus dump it or change it.

    USA response. Apply for more credit and go to war….

    • Greg

      Ugly,
      Very pithy and descriptive. Brilliant in its simplicity. Thank you for posting it here.
      Greg

    • Galaxy 500

      Please pardon the pun…it’s the “Ugly truth!”

  24. Galaxy 500

    http://m.cnsnews.com/news/article/terence-p-jeffrey/23-advanced-economies-us-adults-rank-21st-math-skills

    Like I have said before, you can’t suck out on the gov’t teat with out suffering brain damage. Communism and socialism are intellectual dishonest social theories that subjugate the masses for the enrichment of the “intellectual” elite.
    We have gone from a powerful productive honorable nation to a parasitic one.

  25. Charles H.

    Greg,

    The most disturbing issue to mind is the just how blind most Americans are concerning the factual realities. They are being misled by-en-large; and permit self-deception to avoid considering the harsh consequences that must surely come. Those of “us”, who are on the edges or fringes – and clearly see the scope and nature of the calamity, are thought of as nuts and kooks. The world sees and understands differently. Ironically, it is the world which will have to show America just how wrong it has become. The future holds little comfort for anybody.

    • Greg

      Charles H.
      My own family does not even look at the USAWatchdog.com site. They are willfully ignorant. I just can’t get through and have stopped trying. Aware or not, change is coming. It will be particularly rough on those least prepared.
      Greg

      • Allen Ols

        greg

        Welcome to the plight of many of us; –jim willie; same problem–he said ” consider us as ‘brilliant loners’, ok”?

        Alols

    • Galaxy 500

      Self deception is one of the most powerful forces in the universe.

  26. George Silver

    Dear Greg,
    Many of your guests advocate buying Gold and Silver.
    As a fan of Gold and Silver I have a question.
    I am pretty confident that if the price of Gold goes sky-high the Central Banks will be ready to offer a fair price because Gold is used and stored by them and will probably be the back-stop for currencies.
    I’m not sure though with Silver. If Silver rockets and then reaches a top. Who will buy my Silver? Will the bank?  I don’t think so. Will you? I don’t think so. You wouldn’t buy my Silver at the peak price and nor would anyone else.

    So who will buy my Silver when it reaches a peak? Will I need to get out quick before everyone tries to sell and crashes the price.

    • Greg

      George,
      I am not a trader who buys low and sells high. I think what is coming will be nothing short of a paradigm change, an enormous one at that. Gold and silver are protection to me, not a trade so I can make maximum profit. I cannot advise on when to sell for whatever they are using for currency at the time. I suspect you know what to do and when to do it. I can say you are much better off with AU and AG that without it. Thank you for your question and comment.
      Greg

    • mohammad

      George,
      Mr Sinclair described how his great trader father’s strategy goes, he would sell at the 80& of the wave and leaves the 20% to the market to risk the top, most of them get losses from greed and they did sell on the decline.
      I will sell my silver when every one around me talks about how great the silver stocks are, i will leave my gold to the new currency when it matures, then i will get my house,farm, car…what have you with my saved gold if i survive the calamity!!!

  27. grossyi

    The GOP has delivered the fatal blow in its own demise. Snatching defeat from the jaws of victory they caved in to the deal that left American patriots hanging. And to what end? Do they think anyone will trust them in 3 months when this game is scheduled to be played again? The GOP is the embodyment of John McCain. I will find the party that stands on principle. I will find the party that will not mortgage my sons’ future to avoid the rightous struggle. The GOP lost, the Democrats were shown to be vindictive and America has run out of excuses

    • Greg

      grossyi,
      In the big picture I do not think the Democrats won. Blame game theater is already starting because the Dems know they can’t or won’t fix Obama care. They certainly cannot fix the economy that is about ready to take a cliff dive into shallow water. Thank you for weighing in here.
      Greg

  28. RadarNJ

    Hello Greg,
    Thank you for your work and the information you provide. I think you stumbled a bit on the race card strategy as a lot of us do. We need to name conservative persons of all color as rebuttal. If so then make sure you have a great list … without progressive Powell as he said there is a racism in the GOP. We need respond by asking for names of those who are racist. More often than not when you challenge a statement for facts the statement falls apart. Personally I can’t think of anyone who is racist … unless I think of progressive individuals. My bet Greg is that you also see racism on the left far more often than the right. We should all agree that racism on the right or left is wrong and not a divisive tool.

  29. Galaxy 500

    no you can’t
    http://www.mcclatchydc.com/2013/10/18/205847/for-thousands-keeping-your-old.html

    Keep your policy if you like it or even your doctor

  30. mohammad

    Greg,

    Here is a link to Mr. Sinclair’s web site article about industrial use of nano gold, this is very important and will have tremendous ramifications, so far all the talk is about monetary gold but when industrial usage consumes whatever is left then good luck finding an ounce to buy:

    http://www.jsmineset.com/2013/10/19/jims-mailbox-1380/

    the title goes “….. Could this be another reason why China is buying so much gold?”

    I guess a while back i mentioned that on this site (monoatomic gold)!

    • Greg

      Mohammad,
      Thank you for posting this. This is very interesting and will only add to the industrial use of gold.
      Greg

  31. DAVE

    Hi Greg
    Here’s another currency swap which can be found on RT.Keep up the great work and thanks again

    South Korea and Malaysia signed a currency swap agreement worth $4.7 billion with the aim of promoting bilateral trade and stabilizing currency rates. The Sunday agreement, Seoul’s central bank says, means the two nations can now purchase and repurchase each other’s currencies of up to 5 trillion won or 15 billion ringgit – equivalent to the sum of the deal. The three-year agreement can be renewed upon expiration, AFP reports. It will allow businesses to circumvent the US dollar and perform trades in the two currencies instead. This is the third currency swap deal South Korea has signed this month in an attempt to protect itself from financial instability and open itself up to emerging markets. The first two were with Indonesia and the UAE, $10 billion and $5.4 billion respectively.

    Thanks Dave

  32. Jerry

    Charles & Greg.
    Always remember that even a prophet is a stranger in his own land.
    People have a tendency to naturally be skeptical of someone that they know. In the business world, we call it the “expert from afar syndrome”. Whenever we want huge attendance at our meetings, we always invite a “guest speaker”. People always listen to someone they don’t know, just like an actor is dressed in a white coat to play a Doctor on T.V.

    I have thought long and hard why people reject such a obvious idea about unsustainable debt and have come to #2 conclusions.
    1. We have enjoyed things here in America for long, that it is hard
    for people to imagine it any other way.
    2. It scares them, and they don’t want to think about the reality
    of “it”.

    They say ignorance is bliss. Some days I think I would be better off not knowing anything about what is coming, and just stay asleep with the sheeple. And then I remind myself, I have an obligation to my family to take whatever steps I need to take to protect them. That’s what keeps me going. If I were alone I’d probably get a bottle of Rum and rot away on a beach somewhere.

  33. John L.

    Greg,

    First of all, all of your videos are great. It seems that the current fiat system will eventually fail. I have heard proposals of moving to a global fiat system by using a basket of currencies such as the dollar,euro, and yen. This seems to me to be even a bigger problem since they are not addressing the issue of creating inflation by printing money. I think we all understand that the system is broken but I havent heard anyone propose what the solution is. I would like to hear a few interviews that discuss, if we move away from fiat money what will we move to?? It seems that no one has proposed the solution to congress yet. What are your thoughts on this. Thanks Greg.

    • Greg

      John L.,
      I firmly believe that many in top positions know the economy and the U.S. dollar are in deep trouble. Any fix will be most painful to the bankers. This is why it will crash before it is fixed.
      Greg

  34. Galaxy 500

    Greg, et all, sorry for all the posts. I’ve been under the weather the last few days and there ain’t Shi-ite on TV.
    http://www.telegraph.co.uk/news/worldnews/middleeast/syria/10392547/Polio-cases-in-Syria-spark-alarm-over-rise-in-diseases-including-flesh-eating-parasites-due-to-civil-war.html
    Isn’t it grand what we as bringers of freedom visit upon our friends. Is it any wonder why the Obamanation (similar to abomination but much worse) is hated around the world and at home? And news flash, it ain’t got nothing to do with him being half white or half black…it has to do with his communistic ideology and his actions to destroy the Constitution.

  35. Galaxy 500

    http://www.dailymail.co.uk/news/article-2468112/Revealed-How-GPs-paid-50-bonus-elderly-death-lists.html

    Do you know how much your life is worth? In socialized medicine in the UK, about $80.
    So how about those death panels? Obama’s healthcare is a cost benefit analysis, not the doctor patient relationship we used to have.

  36. gerald

    I say they would rather us pay the ‘fine’ (tax)than be insured. My employer worked a deal with the gov to keep their insurance plan for part timers for 1 more year. Guess what? It has a maximum benefit of $5000 per year and you have to pay $1750 a year for a family of two as premiums. How screwy is that.

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