World Going into Nasty Depression-Hugo Salinas Price
By Greg Hunter’s USAWatchdog.com
Billionaire retail magnate Hugo Salinas Price says the world debt has peaked and has no place to go but down. Salinas Price explains, “It is a global phenomenon, yes. The world has too much debt, and now it’s trying to get out of debt. That’s what’s going on. . . . The debt peaked in August of 2014. I’ve been watching this for 20 years, and I have never seen anything like it. It was always growing, and now something has changed. A big change of this sort is an enormous event. I think it portends a new trend, and that trend will be to get out of debt. Deleverage and pay down debt. That is, of course, a contraction. Contraction means depression. The world is going into a depression. It’s going to get very nasty. The end result is nations, governments are going to have to revalue gold because that is the only thing they will have left. They will have to resort to that to keep trade coming in. No country is completely independent economically. We all need things others produce. . . . In order to have that world trade going, we are going to have to go back to gold. That’s my vision anyway.”
Salinas Price also says, “We are now in the contraction phase. When I call a debt on somebody, that party is going to call in the debts to him . . . and there is a cycle going on where everybody is going to try to collect from everybody else. So, it reinforces itself. When we come to the end of this contraction phase, we’re going to find a world where there is no other recourse but to revalue gold so that it makes debts payable. It makes money much smaller and less weight. Then we will have a lot of gold money that has gone up in value. Some people say (gold will be repriced to) $8,000 per ounce. Some people say it will be $10,000 per ounce, and others are going as far as $50,000 per ounce. I don’t know what the value of gold will be, but it will have the effect of diminishing the weight of debt on the world. I don’t know when this will take place, but I think that is coming, and it has to come. That will be the outcome of this century of inflation we have had. I think we are approaching a revaluation of gold.”
Another big component of gold revaluation is a global default in debt. Salinas Price contends, “When everyone has defaulted, then where do we go from there? The only thing will be to revalue gold. There is 183,000 tons of gold, at least, in the world. Some people think there is a lot more that 183,000 tons in the world. When gold is revalued officially, all gold is revalued. It’s not just the gold in central bank reserves. The gold on your finger, your wedding ring, becomes a lot more because gold has been revalued. This will give people the wherewithal to start over again. . . . Silver will go up with gold. Silver will also be revalued.”
Join Greg Hunter as he goes One-on-One with Mexican billionaire Hugo Salinas Price.
(There is much more in the video interview.)
After the Interview:
Hugo Salinas Price says, “I hope people hang onto their gold and get more.” Salinas Price writes regularly on his site Plata.com. It is free to the public, and Hugo Salinas Price sells nothing on his site.
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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.
So according to NIA and other folks I have read their theories about how since in 1980, the DOW to gold ratio reached 1/1. I believe that was 800 DOW and $800 gold. They also say that historically the gold to silver ratio is about 15/1. So with the DOW at about 16,000 now, I do not see it rising to 50,000 but perhaps dropping to say 7,000. So that could price gold at $7,000 per ounce and if silver adjusts, it would be $7,000/15 = $467 per ounce. This is for the physical metal.
Nevertheless, since 1980, we have become much more of a world economy with world wide debt accumulated and much of it is not tied to the U.S. $ or petro $ any longer. So, who knows where gold could adjust to this time? That is one way the $50,000 per ounce is an actual possibility.
Another way is, if the US remains the world reserve currency and there are many more QE’s, well then perhaps the DOW could be propped up to 50,000 but gold should follow it eventually as hyper inflation ensues… until it reaches the 1/1 equilibrium.
Its crazy to think about how it might play out.
Does anyone care to explain why the 1/1 DOW to GOLD ratio is a for sure thing???? Other than it happened in 1980 and I think before the great depression?
Yeh real simple for you, back then the wealthy people that rigged all the markets actually owned gold, same in 1980 … but once they realised they buy stuff with their own pretend money , from idiots that didn’t know the difference they stopped trying plus it’s really,really hard to become a “quadrillionaire “or a “trillionaire”based on accounting with a finite commodity…so pretend money out of a pretend cheque book is easier, just ask any politician…didn,t you know its’ magic…
Pretend money, pretend checkbooks, pretend politicians and pretend vote counting as seen when the Diebold voting machines turned a Trump “anticipated victory” into “a loss” to Cruz!
Historic ratio is 6/1
That is ZAKAT system in islam that dominated the world for 1000+ years.
That ration was in Europe too in particular in Spain.
Mohammad
Mohammad I would be very happy with that 6 to 1 ratio actually
It is a ratio set by god not humans and it WILL BE BACK.
Laws of this universe can be distorted for a short time but eventually it will prevail.
6:1 my friend is what am calling.
Time will tell.
Mohammad
And it was what, 16 oz of silver to one of gold in historic America until the flood of silver nearly wiped us out and the free silver populist movement kicked in.
It is the folks who count? The votes who decide who wins.
We will still have the house and senate of royalty with no term limits who got us to where we are at now.
I remember back in the 70’s gold/silver was 35-1. Gold/oil was 10-1. Now gold/silver is 80-1 and gold/oil is 35-1. You can go back in time and look at the relation of gold to something and then look today or at points in between and they will vary greatly. Why? Because there is no long term relation. Value varies based on supply/demand.
If you want to go by supply and demand, the current rate of mining production is around 8:1 with the demand currently in excess, producing a current silver deficit of around 200 million ounces. But keep in mind that of billions of ounces of silver mined over the centuries, very little remains from industrial usage; forever buried in landfills or exploded in war. According to the USGS, the planet will run out of accessible to-be-mined silver within 10-15 years, while Hugo and others feel that there is almost 200k tonnes of old vaulted somewhere on Earth. There are no, I repeat no known 1000 tonne hoards of silver existing. So as we get to the 15th year of the USGS prognostication, I wouldn’t take bets against the gold silver ratio dropping to 1.0 or less. That’s why smart money considers silver to be the most undervalued asset on the planet.
Really?
What, exactly, influences demand for gold? Is gold used for heat, shelter, or comfort?
Gold is a hedge against governments according to Martin Armstrong.
When tshtf…and everything is really bad…then gold does way up.
We shall see
Gold is a commodity that can be used as a contract “quid pro quo” in an exchange between a vendor & purchaser (money) The demand for “money” is almost infinite (for obvious reasons’ unless you are a complete idiot or .gov employee) Gold cannot be reproduced by fat greedy bankers, fat greedy .gov bureaucrats or criminal corporate maggots. Gold can be a constant source of annoyance for those who wish to sponge off parasite off their fellow humanity in perpetuity..thanks for asking
ANTIGRAVITY….!
Mohammad
Historically speaking about silver discounts the massive Comstock load and the butt load in Peru. These rates were fixed. When you fix rates arbitrarily, it causes imbalances. Look up the history of silver in America and the silver finds out west that caused the mint to stop minting more silver coinage because it was distorting the then fixed gold silver ratio. You can’t arbitrarily fix one metal to another, they have to float freely.
Greg,
Here is the latest money velocity chart for the 4th Quarter. I nearly dropped a load!
https://research.stlouisfed.org/fred2/series/M2V
I’m going to continue saying it until I’m all tuckered out. China and the BRIC nations are preparing to deliver a new economic exchange system to the world. They sent out birth announcements two weeks ago with the announcement of the Gold Benchmark in April.
When you look at the money velocity chart you can see why. We are trending for impact in about two to three months. The Fed can continue to pump up Wall Street, but the BRICS know the real numbers. They will continue to dump dollars and buy Gold, while ESF mops them up to keep the system going. But in the end the BRICS are stepping off. Getting SDR from the IMF was just a credibility show for the other nations. They don’t want them or need them..
Nothing will happen to Hilary, Greg. In my opinion we will be under martial law before the elections in November. When the BRICS disconnect, it will send this debt riddled, banker controlled, rotten system over the edge. Its one thing to run a Ponzi scheme. Its quite another, who participates in it. No one outside the U.S. controlled IMF is buying it anymore.
Thanks to whoever cut and pasted one of my last post. I couldn’t agree with myself more. 🙂 Here’s the latest on the AIIB goal for world dominance.
http://english.cntv.cn/2016/02/02/ARTIgE8x9T0uKYYvfyEnC9sk160202.shtml
Jerry, All signs point to what you are saying about china are true, But can you tell me why none of gregs guests or anyone in the msm has talked about this. This seems to be an important piece of news.
jim c.
The main stream media will start talking about China when they are ready to start WW III.
The fact that nobody in the west has deemed the Chinese as an evil empire as the Russian is indicative that China is not going to do anything detrimental to the dollar Ponzi in April.
Tin Foil Hat.
Sun Tzu-
All warfare is based on deception. Hence, when we are able to attack, we must seem unable; when using our forces, we must appear inactive; when we are near, we must make the enemy believe we are far away; when far away, we must make him believe we are near.
That’s the playbook that Xi is following. When the time comes it will be quick and decisive.
Jerry,
That is the ultimate guide to warfare, I can promise
you that no one in the west is following this anymore….
Jim c.
I honestly don’t think they understand the depths and levels of the scheme. As a business owner who has always tried to play by the rules, it took me quite sometime before I could come to terms with what has happened to our country. I now think it was quite possible that JFK was probably murdered because of what he was about to expose with the U.S. Treasury.
Jim,
I think I know exactly how you feel. I truly love this country and always consider myself a patriot.
I joke and laugh about how screw up our country has become as my heart bleed.
Of course, no one else understands.
You’d be right Jerry about that last sentence, plus a few other reasons….!
Understand the depths and levels of creating terrorists (like ISIS) as justification for NATO to send troops into a country without that county’s permission … think … are terrorists being created in the US for the same purpose?
Jim C.
The Federal Reserve Bank of San Francisco sheds more light on what you’ve asked. Note the timelines. Anyone who thinks they are not moving ahead with their agenda is delusional.
http://www.frbsf.org/banking/programs/asia-program/pacific-exchange-blog/chinas-shifting-policy-anchors/
Jerry,
It is now starting to show why China and Russia are buying gold…listening to Salinas, Holter, Ackerman and Kirby made it happen. As well as your postings.
Cruz mailer inspired by political scientists, is condemned by Iowa secretary of state
The Washington Post David Weigel
Letter’s sent from from Sen. Ted Cruz (R-Tex.) to Iowa Republicans is becoming a mini-scandal. On Saturday morning, Republican strategist and writer Sarah Rumpf found a tweet (now deleted) from Iowa voter Tom Hinkelday, displaying a Cruz mailer meant to look like a “VOTER VIOLATION.”
“CAUCUS ON MONDAY TO IMPROVE YOUR SCORE,” read the mailer, patterned after a report card, “and please encourage your neighbors to caucus as well. A follow-up notice may be issued following Monday’s caucuses.”
Cruz’s campaign quickly confirmed the origins of the mailer, even as Cruz endorser and radio host Steve Deace pronounced it fake. And Iowa Secretary of State Paul Pate, a Republican, condemned it. READ MORE;
http://www.msn.com/en-us/news/politics/cruz-mailer-inspired-by-political-scientists-is-condemned-by-iowa-secretary-of-state/ar-BBoUqDH
_________________________________________
Ben Carson Accuses Ted Cruz Of Using ‘Dirty Tricks’ To Win Iowa
The Huffington Post Kate Sheppard
Carson has alleged that the Cruz campaign told voters via mailers, social media and surrogates at caucus sites that Carson was dropping out of the race, so that those voters would instead caucus for the Texas senator. READ MORE;
http://www.msn.com/en-us/news/politics/ben-carson-accuses-ted-cruz-of-using-dirty-tricks-to-win-iowa/ar-BBp1Mmw
All’s fair in love and politics? kick out the Politico’s!
Mr Salinas Price is 100% correct!!!!! Just read his article at the hedge. No really the worlds political class know that revaluation and collateralising the system has to happen. They are just scheming to steal as much as they can before reality sets in. People like Bezos and Zuckerburgs net worth might fall as much as 1000% when the worthlessness of the current monetary units are realized , they fully understand this. The first 2 or 3 billionares to pull the plug on this rubbish will be the only ones to keep any where near the unicorn value of the accounting of their fictional wealth..I really love this man seriously an old man worth reallllly!!!!!! listening to!
Red,
The only thing is, do you really think the wealthy elite will allow their position to drop 1000%?
🙂
How does one lose 1,000% of their wealth.
If 100% represents a whole…..then 1,000% represents negative wealth to the tune of -900% ???
Someone …anyone….???
If you understand leverage (borrowing money) 1000% loss is easy. Some of these “billionaires” have negative “equity”
If you borrow $100 with $1 equity betting the market will go up 1% and instead the market falls 10% you just lost a thousand % of the real equity you owned ie $1000 so yes you can go negative equity real fast if you don’t understand leverage.
Thanks Red.
See your logic now. Don’t agree with it.
Negative Equity is a b_e_a_t_c_h ….then there was bankruptcy. In reality you can only lose what equity you have….Leverage notwithstanding. When the debtor comes collecting …he has only so much collateral with which to work with. He can’t create imaginary assets to satisfy the 900% shortfall.
You did say “NET worth”….and weren’t referring to some ill fated attempt to put $50 MLN to work in the casino.
I don’t agree with it either . Should not exist, but it’s reality and a lot of the reason for this fairy tale of a market. It should be stated as it is a “con” The problem is this type of finance has a very real world effect on all of us. Mathematically % must be assigned a function (n) as you stated “net” But I was presuming a level of comprehension from Greg’s extremely intelligent listeners 🙂
I am acutely aware of the term and use of leverage.
Your use of derogatory and condescending language is unwelcome.
Regardless of how much leverage is used by any individual….he/she can only lose 100% of their nominal value/wealth.
Mathematics 101 may be of assistance….oh that’s right…you’re the professor of Mathematics….cancel that.
Hey if my opinion offended and where gonna open up with ad hominem,non sequitur and name calling zipperneck, you did not have to respond to any of my blog posts. If my opinion offends, put forward a rebuttal showing some sort of intelligence , not just some week obtuse reason for a name calling match.
Ok,
” you can only go 100% bankrupt ” Using this logic there is not one insolvent individual or bank on the planet. Simple fact is individuals, governments, banks & corporations are using debt instruments to trade in the market many,many percentage point multiples over this mythical line in the sand. In fact the only people who think like this are the corporate, .gov , banking, get rich quick, thieving,lying scum that have brought the world to the point it’s at today. Even when they may owe millions of $ for every actual $ they have invested in any businesses. They’re still allowed a seat at the table undercutting solvent businesses on price, destroying family businesses’ , communities, nations, permeating this logic at every level of civilisation, stealing, destroying even when they have not been solvent in decades. The mindset that farms this type of logic is so intellectually deceitful it begs belief. So SIG i,m gonna give you the benefit of the doubt & just believe that it was just my short delivery of this message that upset you, in which case I’m truly sorry, but don’t come back at me trying to weave deceitful language and change my original statement of “billionaires” loosing thousands of percent of any net or perceived real wealth. You know exactly what I meant, so from here on in it is just a peeing competition that you lost so go away.
I guess you knew exactly what I meant too.
Perhaps the bigger issue (rather than your ego) is the unwinding of the collateral deficient leveraged bets.
I never lost btw….you just conceded. I wasn’t putting deceitful language or words in your mouth. You made a statement and I wanted clarification. Done.
Red, great comment as I dabble in forex
options. I do not have enough skill to lever up 30-1, not willing to take the risk.
Hugo really nails it in this interview, “go big
or hide under a rock” and troll with the slugs.
Oh dear,
So I’ve noticed some of your other blog posts’ and you seem quite a bright person and yet your going to persist with this argument that % can only be used to express the composite of “one whole”, when you know quite well that their can also be more than “one whole” at which point mathematically % can be used to express ratios’ between different “wholes”. It’s one of those prove their is a god, how long is a piece of string, butter is better than margarine there is no multiverse just a universe type arguments. So all I can presume is really you either don’t’ like my opinion or the the way I express or even have the gall to express my opinion or you just don’t like me and all the above. Well all I can say to any of that is suck eggs 😀 because as I said I hadn’t noticed your blog posts’ before this, but now you,ve got my attention and yah know what you seem too suffer a bit of know alledness yourself, something you accused me of, so try to see this as more of a clash of civilisation with one know all,knowing a bit more than another know all : )
I didn’t concede anything. There was absolutely nothing wrong mathematically with my original post ….except some people (an ego thing apparently, a bit of a Freudian slip there SIG) struggle admitting they may have learned something… 🙂 For the record I never used the term bankrupt in my original post. I used % as an expression of the ratio of difference between their own money (one whole)and borrowed money (another whole) that these so called billionaires patch together as an expression of their wealth. But like I said just try to see it as a clash of civilisation and perhaps your comprehension skills will improve. You might want to reread my posts. Whilst your bright, you seem to have missed some greater truth. I’m done here. Over and out.
Patronising will get you absolutely nowhere in this world. You will be stuck in your own little jar…suffocating on your own words and breath.
For someone as bright as you seem to be….How do you feel about participating in this great game where the so called elites have manufactured everything… on credit…. Of course you didn’t consider that you too had a hand in this…..never used a credit card, never taken out a loan to buy a house or car….never used FRN? You never used credit to increase your spending. You never bought stocks.
Don’t be so damn righteous.
You will be back …I know because your ego wont let it go.
Yes you did concede.
By all means please do read my posts….I welcome feedback. I have broad shoulders. Got an issue…make it known. Who knows you too may learn something in the process…that can’t hurt. After all…aren’t we all still learning. I don’t profess to know (as you suggest) everything. I’ll be the first to admit that.
Maybe you should re-consider your writing style when making a point.
I only speak in absolutes…..discarding hypothetical nonsense. Reality is the whole of the tangible…..forget the other inflated BS.
they will not have a choice, maths and physics are not optional.You should be pleased by the fact that being a billionaire is no proof of any i.q. above that of us plebs..the smart ones are already moving or have moved to the exits. As Henry Ford or Dale Carnegie stated “making a billion dollars was the easy part, keeping the billion dollars is the hard part”
actually if $1 is 100% then $1000 is a million % but you get my point hopefully.
Doh…100,000% after that rave on maths:) It was a long day for me yesterday OK
By the the way Greg the reason why most good investment advisors steer unsophisticated investors away from margin borrowing is the simple dangers of the multiples of losses’ that can be incurred by this type of investing. The fact is no one knows the real “nominal” wealth of any of these so called “Billionaires” many of them are bankrupt beyond belief, like the legendary story of a media “mogul” nearly bankrupted by a $180.00 printing bill. I’m just saying if people actually went bankrupt after losing %100 of their wealth this fairytale market wouldn’t even exist and some people blogging here don’t seem to like a light being shone on that fact.
I’m pleased to know there are some people who take things seriously. Our futures depend on it.
Greg,
Another great guest. I figured out your secret, you only have great thinkers on. It’s a nice formula that works well for us viewers. You also give great thought to the questions and the follow up questions you ask. Another thing I noticed was they think long term. Unlike anyone in Government. Great site. I look forward to it every week.
Concur with this statement gregd. gregh great interview. wish you could have HSP on once a week. what a great man… Chip
Greg,
This was an amusing interview with Mr. Salinas Price. He and David Stockman mentioned the CB balance sheets – great minds think alike! Per Rob Kirby the ESF is suspected as the buyer of 1 trillion of US treasuries sold since 8/14.
On the issue of gold revaluation, that could be around the corner this spring as China is told to commence with the Yuan/Gold fix. I heard a great interview on this subject with a Smaulgld rep yesterday that others may want to hear about.
http://thedailycoin.org/?p=61318
Taliban Gun Down 10-Year-Old Militia Hero in Afghanistan
The New York Times By MUJIB MASHAL and TAIMOOR SHAH 10 hrs ago
KABUL, Afghanistan — The Afghan government declared Wasil Ahmad a hero for leading a militia’s defense against a Taliban siege last year, parading him in front of cameras in a borrowed police uniform too big for him. On Monday, the Taliban triumphantly announced that they had assassinated him with two bullets to the head.
Wasil Ahmad was 10 years old. READ REST OF STORY;
http://www.msn.com/en-us/news/world/taliban-gun-down-10-year-old-militia-hero-in-afghanistan/ar-BBp2lhP
All’s Fair in Love and War and Religion ~ Sad But True!
A little puzzled by your comment, “All’s Fair in Love and War and Religion….”. He lived 10 years during a war in Uruzgan Province, one of the most lawless areas of Afghanistan. He was shot in the head by a thug. What’s fair about that? The Taliban rule by fear; their targets are women and children. And they do all of this under the guise of religion. Nothing fair about that either.
They use religion to disarm the civilized society and hide behind it when they are getting their ass kicked. That video brought tears of pride to my eyes.
http://theerant.yuku.com/topic/81493/Bus-driver-Italy-beats-snot-refugee-agg#.VrJVrLIrKM8
Greg,
I will start with the easy one:
When Bitcoin is considered officially a commodity on the CFTC then it is a STEAK and not a pill.
Here comes the hard one:
Mr. Salinas,
You are holding a nice chart with a charming smile on your beautiful face showing half the truth that i bet my money you know the other half. Oh, it is me, Jim Willi and Rob Kirby knows it too, (I asked you GREG specifically to ask ROB on your interview with him about Reverse Repo but seems you forgot and here we have this old fox babbling half the truth omitting the second half).
With that nice chart you showed the reserves are falling, so Mr. Salinas you conclude that we are RETRACTING, we are in DEFLATION …….BS….!!!!
Here is the TRUTH sir,
IT IS REVERSE REPO done by the feds to have a double barrel QE to infinity…….
Double barrel because it is now the FEDS and the TREASURY DEPT.
The feds withdraw cash (hence the first half of the truth in your beautiful chart Mr. Salinas)
Then they load the banks with TREASURIES (the second half of the truth you omit at will).
DOUBLE BOOK KEEPING, HIDDEN QE TO INFINITY…..SIR.
http://news.goldseek.com/GoldenJackass/1452546000.php
Quote,
“A better comprehension now, after Rob Kirby straightened me out humbly, done with my gratitude. The USFed takes in cash and puts out USTreasurys. Consider the perspective of the bank cabal, then the USDept Treasury Exchange Stabilization Fund. The big banks cannot leverage cash but they can leverage USTBonds several times over. The Fed feeds the banker cabal/ESF with collateral (USTBonds) which are leveraged multiple times in order to support risk assets. This in effect is a gigantic pseudo-QE. When one factors in that $200bn (for example) in collateral can be safely leveraged 3x to 10x, the Fed via the cabal/ESF has created liquidity of $600bn to $2 trillion in a blink of an eye. The clue of excessive leverage is seen in volatility for the TNX 10-year bond yield. The candle bars are becoming longer over the last year.”
And QUOTE.
So more leverage more inflation but HIDDEN, more than what is hidden behind your charming smile MR. SALINAS.
That chart is still HOCKY STICK GREG…..Do not be fooled by this old fox.
Mohammad
Mohammad,
When the big boys officially made gold a commodity, they turned a STEAK into a poisonous pill.
I don’t think you are seeing the big picture. Inflation has happened already in asset prices in real estates, stocks, bonds, energy exploration companies, etc. However, these assets are crashing which is deflationary. QE is direct injection of cash to add liquidity into the system via the primary dealers and buying mortgage backed securities from various banks to keep the banks from bankruptcy. Reverse Repo is a tool to give the banks leverage to boost the markets from crashing to once again keep the banks from bankruptcy. Basically, QE and Reverse Repo are barely filling these gigantic deflationary holes. That is why we haven’t seem out of control inflation in the U.S. yet.
Right now, the big boys are still trying to unravel the debts issue with more debts. The old fox is not trying fool anyone. He told you that it will not work and the debts problem will be solved with gold.
Inflation/deflation is a currency phenomenon. When the dollar rises deflation. When it drops, inflation. All fiat currencies drop and result in inflation.
This is why I adamantly state these low oil prices are transitory. Meaning they will head back up.
Today the Dollar is down $1.30 on the index. Gold and oil are up significantly. We still have supply/demand factors BUT oil is up 6% today.
It’s ALWAYS about the Dollar. When the gold revalue comes via China the Dollar will drop (a lot). At the same time things priced in Dollars will rise significantly. Then you’ll see your expected inflation (and much higher oil as I’ve been saying).
Jeff L,
I concur that it’s always about the dollar. I took me a few years to figure that out.
All commodity prices are transitory especially when they are influenced by debts and derivatives.
When gold is no longer considered a commodity and allow to trade freely in the FX market, it will be used to strengthen the collapsing debt dyke.
Jeff L,
PMs: NEM,GG, ABX, FCX, SWC are all up.
Oil: XOM and COP down, CVX and BP flat.
Coal: CLD and BTU up.
BHP and RIO up.
UUP is down .6%
I think it is time to remove that tin foil hat so signal reception will be better.
Mohammad
Mohammad,
I took off my tin foil hat but I’m still seeing yellow, lol.
I suggest that perhaps you should put on a tin foil hat to see how gold prices, in the FX market, are molested every single day by the prices set in the commodity future market.
CFTC is putting a leash on Bitcoin by considering it a commodity.
Remember the Hunt Brothers, private citizens can never out maneuver a sovereign unless they are back by another sovereign like George Soro. Bitcoin will get crushed unless it is created and run by the sovereign.
I will take a look at Bitcoin when China and Russia start accumulating it in their reserves.
Bitcoin is commodity now so they outlaws it as a digital currency, JUST BECAUSE THEY HAVE IN THEIR SLEEVE FEDCOIN.
Mohammad
I like BitGold
You will be forced to use the digital gold….do not rush it.
Mohammad
Mohammad, it has been a few months now, that CFTC has officially recognizes Bitcoin as a commodity, so I trust you are now enjoying your steak and one veg.
Reverse Repo, is the main reason why many people, including myself don’t trust Bitcoin or any other form of digital currency, because it can all be created with ease and confiscated by a fat-finger error.
We are all anonymous here, posting our thoughts and experiences on line, but no one really knows when and what will happen in the future and you’re right, in saying in your last post to me ‘time will tell’
Am not enjoying my steak but i bet your Salinas is.
When they talk down something look in the opposite direction.
Mohammad
Mohammad,
I spent the last hour watching the new Islam in Europe. God help us. God help us that are Christian and white and have Western background.
I will state there are no moderate islamist! Please stop saying you are a man of peace. If you are you need to convert to Christianity or anything besides islam. That is like saying there are moderate Stalinist. I see a world divided in 2, islam and its supporters ( white liberals and others) and those of us that are Christians and vow to shut this barbaric cancer down.
The west all of us have to find a way to defeat this, we have to thats it. I don’t care if we have to use nuclear weapons or biological weapons your kind has to be stopped. This is the black swan that is sneaking up on everyone. And people like Merkel welcome this…dear God.
I am convinced this will contribute a big part to world collapse.
I would be more than willing to volunteer for a new Crusade I am willing to die for my right as a Christian to stop this and stop islam…with islam there is no peace.
Please none of you ever surrender your firearms, this will be the beginning of a new hell.
The dark ages are coming and its called islam!
DM, We are in complete agreement … “Bring back the Leathernecks!!” DB.
DILL MANN,
No moderate islamist would support sharia. A peaceful Islamist who support sharia is a passive radical Muslim.
I’m still waiting for Mohammad to tell me whether he is supportive of sharia or not.
Muslims in Turkey were/maybe still are moderate because Kemal Atatürk adapted European legal codes and banned sharia law in Turkey. Muslims in the Alevi sect are also moderate Islamists since they rejected sharia.
Assad is actually the good guy in the Syria conflict. He is a Baathist who is heavily influenced by the founder of the Turkish Republic Mustafa Kemal Ataturk’s experience of authoritarian secularization.
Help me out a little, here, if you will.
I get it, your point about the reverse repos. But, of the reverse repo info I’ve seen, the duration of the contracts is one day.
You conjecture that one-day contracts contradict the graph displayed by Mr. Price? Please explain.
Why you chose only overnight?
It could be for a SPECIFIED TERM between the feds and the banks:
https://www.newyorkfed.org/markets/rrp_faq.html
“These RRP operations may be for overnight maturity or for a specified term.”
The point made by Rob Kirby is that the feds are pulling cash from banks and loading them with their securities so banks can leverage them since they CANNOT LEVERAGE CASH.
Actually that makes a strong argument that they are phasing out cash in prep for POSSIBLE digital currency.
when those securities leveraged and trillions created in a blink of an eye without cash, then they implode, you will scramble for cash but good luck, the feds already phased them out.
Perfect scenario case for digital currency.
Mr Salinas showed half of the truth and hid the other half.
Mohammad
“Not a sophisticated financial person’, oh, BALONEY! The previous interview with Mr. Price was the alarm clock ringing and he woke up my family! I am happy to see him looking well and wish him all the best.
p.s. And also a big thanks to you Greg. May God continue to Bless You!
we are reading these and other articles and no one know if and when this will really happen, seems like people talk 2014 than 2015 and now same predictions goes for 2016, the world will be over. Yes, we are in debt, too much debt which is not good. But the people who are managing all this or shall I say orchestrating the entire drama really want the world to be over ~ not sure.
Greg,
Hugo Salinas Price is a good man and a wealth of information regarding gold.
However, I must disagree with him regarding oil. I think the price of oil is directly related to the value of the dollar. Oil will influence war, Middle East politics, and the global economy in general. Whatever oil does in the market the dollar will follow. Just check the DJIA often.
i think the price is directly related to demand. simple economics really. yes it was driven up by speculation but it is finding its natural price to fit with current demand… Chip
It was driven up by natural laws of inflation.
It is brought down by bastards that want to destroy and derail economy ala 2008.
Mohammad
Can we call it price discovery. Yes. 😉
Price discovery when market is free of manipulation, not any more. Price discovery is gone long time ago.
Mohammad
So you believe GS are buying the Energy sector with gusto now …given their manipulation of Oil to these lows?
Hmmmm….and when Oil goes to $20…do you change your theory to suit ?
IMO It has more chance of getting to $20 than $60 during this year. More damage…much more…to come. This is what will break the Dollar and the Markets worldwide. I have not deviated from that line of thinking …see my previous posts.
The oil is crashing because of Goldman Sack’s KENSHO’s “WARREN” cloud computing, I am scrambling for a proof and i will find it, they are bringing the market down the same way DR LEE brought the subprime with his formula down that busted the market in 2008.
Mohammad
Mohammad You are ABSOLUTELY correct. This drop to $30 from +$100 is totally manufactured. As was the ’08 crash and just about everything you can imagine.
Jeff,
OIL SHOULD BE AT LEAST 300.
Mohammad
If that were true then why aren’t the big BANKS playing that in that space?
Please enlighten us all.
Jeff L
You said;
“This drop to $30 from +$100 is totally manufactured.”
Just me but I am not so sure about this.
There are definitely some supply and demand factors in this oil crash. I believe that there was an element in Opec that wanted to shake out some of the high-cost oil producers and were encouraged/conned by certain parties into going ahead with the scheme without thinking through the possible repercussions. An added theoretical bonus to them would have been the financial pressure that Russia would come under. These parties completely misread the extent of the slowdown in the world economy and the subsequent decline in demand for oil.
By the time it dawned on them as to what they had accomplished, i.e. shooting themselves in both feet, it was too late and the whole situation lurched completely out of control. This current situation is completely new territory for Opec producers some of whom have spent many decades drunk on their wealth and their ability to manipulate oil supply and price virtually at their whim.
The trouble is now some of the big wells, even in Saudi Arabia, are no longer low-cost simply because they are deteriorating due to age and over-use. In some cases, 90% or more of what comes out of the well is not a saleable product but actually a liability. Add to this the fact that SA and many of the other high-producing countries have huge current account deficits.
It is pretty obvious that cutting production is not a viable option. Indeed to achieve the same revenue for sales as before the crash these producers would have to sell something like 300% more volume. Each and every one of them would like world production to be cut in an attempt to try to address the supply and demand equation, but no individual country is putting their hand up BECAUSE THEY FLAT OUT CAN’T AFFORD TO!
The fact that Iran with the fourth largest global reserves is ready to add significantly to an already bloated supply makes the problem even larger more daunting. http://www.businessinsider.com/barclays-return-of-iranian-oil-could-not-have-come-at-a-worse-time-2015-7
Admittedly some high-cost producers will continue to be shaken out when they can no longer roll over their loans but I see the nett supply only subsiding marginally whilst demand continues its systemic contraction.
Add to the above factors the situation that some of these big producers are one trick ponies in terms of economies and export income, and it becomes clear that it is very difficult and slow for them to diversify exports. Some of these producers have been blissfully wallowing in their oil wealth to such a degree that they haven’t bothered to develop other aspects of their economies or skill sets and have lost most if not all entrepreneurial habit. These economies have often become super reliant on importing their domestic necessities because of their assumed permanent wealthy circumstance. Oil at $30 and with the prospect of going as low as $10-$15 gives them a sudden and very rude fiscal awakening.
http://www.businessinsider.com/break-even-oil-prices-for-all-the-major-producers-in-the-world-2015-7
There is an old saying, ”The best cure for low oil prices is….low oil prices”.
I am not so sure that it will be the case this time around.
Cheers
Col
Jeff,
Here is a smoking gun:
Martin Chavez was recruited to GS to head the KENSHO program that has its “WARREN” as the cloud computing system that gives GS the edge over its competitors. not long after that “WARREn” was deployed the oil took a nose dive.
Well…
Same top gun Martin Chavez was also involved in another program called: “KIODEX” .
That program was deployed JUST MONTHS before the bust of DOT COM…..HMMMMM
then Matin retired.
http://www.globalcapital.com/article/l1m812wm5t6p/the-outstanding-contribution-award-r-martin-chavez
“Despite launching “KIODEX” one month before bursting of dotcom bible in 2000……..”
Mohammad
How do you account for all the US oil storage full and now they are renting tankers as storage. Sure they manipulate oil but they can’t manipulate the fundamentals. There is a glut of oil
G 500,
Missed this post you sent up….on the money!
Moh,
How do you explain hundreds of oil tankers filled to the brim and waiting for months to unload oil when all of our reserves are filled up….it is supply and demand simple.
I know there is some manipulation but were are choking on oil….China is now producing its on oil etc…
The drop in the price was instant.
The back up was because the delayed port evacuation of containers and it was on zero hedge, i linked to it.
that drop like brick in a matter of days cannot but a program.
Time will tell.
Mohammad
Mohammad,
Maybe you need to adjust your line of thinking/ Logic…
http://www.zerohedge.com/news/2016-02-04/four-days-after-predicting-oil-will-double-t-boone-pickens-sells-all-oil-holdings
I read it before you linked to it, am almost daily on zero hedge.
I maintain that the oil crash is a program ala the formula that brought Lehman’s down.
I posted smoking guns ….. No proof.
But when someone writes about a proof i will go to this post and remind you.
My logic and instincts are sound.
Doctors are investigators by nature.
Mohammad
Mohammad,
Doctors are also prone to thinking they can never be wrong, it happens so frequently the we have a term for it— its called the “god complex”.
Look at the substance of what i post and forget about me as a person.
Mohammad
Mohammad,
While I think your posts and insights, are notable. Your proclamations and self-styled prophecies seem a bit provocative when you claim “your logic and instincts” will take you where others have stumbled and been confounded as to predicting the course of future economic trends & world events. As you aptly say, time will tell.
TIME WILL TELL
Mohammad
I’m with you Mohammad …. I don’t care if every tanker and storage tank is exhausted. Nor if Pickens said so-n-so. Oil is /has been manipulated and the MSM repeats whatever they hear. That’s what they do with gold while world demand explodes.
How do you explain that ? Colin, I appreciate your comments but all those facts (like everything else cut and pasted on this site) is already known…… Colin, why did the price drop from +$100 to $60ish when the supply/demand was still balanced (back then)?
This is how it always happens, including the ’08 crash. They (GS) start the movement knowing where everyone’s stops are and it just snowballs. Just by accident the MSM who haven’t a clue about basic economics start repeating a mantra of lower projections (fear) and overproduction.
This is exactly how ’08 came down. I believe it is how China started there market collapse. There really isn’t anything GS doesn’t have their hands in. Remember, “they’re doing the work of god”.
One final thought…. numbers are all arbitrary when everything is manipulated. Gold could be $10 or $10,000. Oil could be $10 or $10,000. Interest rates could be 1% or 10%. Ask the LBMA how they come up with their morning price.
Jeff L,
You are correct insofar as Oil has been manipulated…..emphasis on HAS. I will agree entirely with you on that matter. However…..
I have made comment on several occasions about how many players (Banks) in the commodities complex have left the sector and shut up shop.
You want a possible reason for the dramatic shift in price….some short reading for you may shed some light.
http://www.reuters.com/article/deutsche-commodities-idUSL5N0JK3ST20131205
note the part where “major market-making operation in oil options” is stated.
how about this little tit-bit too…
“sign that many of the large global banks no longer see commodities as viable”
reading between the lines ….the regulatory environment in 2014 CHANGED….and they collectively decided that the game was up…hmmm.
then there is this one to support the other heavyweights who have removed themselves.
https://www.bullionvault.com/gold-news/commodities-investing-042420141
You knew all of this I presume before you posted your comment… because everything that is available is cut and pasted for everyone’s access. NOT.
Just saying…..with all due respect.
Jeff L
With all due respect, the facts that I quoted demonstrate that your statement is incorrect.
You said:
“This drop to $30 from +$100 is totally manufactured.”
IMHO [remember I am a farmer, not an economist] much of the drop is due to simple supply and demand factors that have been fundamental economic principles since we all lived in caves.
Point taken….some of this IS due to market manipulation but your “totally manufactured” premise is simply not correct. I am not trying to be pedantic, but just illustrating that there are some very fundamental market forces involved in this oil price plunge.
As manipulated as markets are in general in our modern world, and I would be one of the first to concede this, the almost primaeval reality of the laissez-faire phenomena is to this day an extremely powerful and often overwhelming market force.
Cheers
Col
PS I try not to feel bad about being a farmer rather than an economist. I often think about the “economist” Ben Bernanke.
I really struggle to think of one instance where this cretin as was right about anything. But of course, his role at the Fed was was to mislead and to misinform to assist his cartel to thieve from Mainstreet. My point is that some of us small-fry that live and trade in the real world of tangibles do actually have half a clue.
Jeff,
OIL dropped from 100 to 60 when Rockefeller’s sold Exxon shares at top.
I linked to it last week.
The drop from 60 to sub 30 was a machine. I suspect GS. No proof though.
Mohammad
Also Jeff,
Boon’s link is on my side of argument.
If this tycoon thought the drop will be slower, if this tycoon did not see it coming, i bet my many it was a program.
Mohammad
Jeff L,
Oil has been manipulated and was driven up just like the real estate market from 2001-2007 to accommodate the newly created debts/free money. It is not manipulated down but is driven down because it finally reach the limit of the natural laws of supply and demand.
In the subprime mortgage fiasco, the income of the burger flipper has to be inflated for the loan qualification.
The shale boom was created to accommodate free money from Obama just as the real estate boom was created to accommodate free money from Bush, the price of oil has to be inflated just as the wage of the burger flipper to justify the massive investments until the limit of supply and demand is breached.
It is not brought down by bastards that want to destroy and derail economy ala 2008.
Gold is manipulated in the exact opposite fashion as oil.
For oil, the law of supply and demand prevails when every oil tanker and storage tank is full.
For gold, the law of supply and demand prevails when every gold vault in the western central bank is empty.
B.i.t.c.h. slapping should be banned.
Same line of thinking which I have stated many times. In essence …this matches the definition of true Keynesian
“Price discovery” mechanism.
And your proof will come through what source…ZH ?
Maybe GS might take out a front page add on the Wall St Journal ….or the NY Times….to let the public at large know what they are up to and to ease the burden for you.
Having some balance in life is a good thing. We cant always be right…can we?
Until there is proof …it is conjecture and opinion. Stop making it sound like there are no other explanations because you are coming across as being very arrogant. I’m all for sharing ….but keep it succinct and on point without the attitude.
We have in medicine something called differential diagnosis , some kind of circumstantial hints, evidence but not solid proof. we work down the list until we zoom on one or two possibilities then we run the necessary testing to confirm.
Here it is similar approach although different matter.
GS recruited a top gun who deployed a program one month before the crash of dotcom in 2000, that same guy deployed another program called “WARREN” just months before the crash of oil.
Well ….
I see is as a probability link not cause effective link (yet).
Keep in mind am not in the market it is not my specialty, but i can deploy my logic i use in medicine to all aspects of life, logic is sound and it tells me there is something out of the norm dropped oil from 60 to sub 30 that a big tycoon like Boon did not see it.
Do not worry about the proof, there are will be lot of casualties to this oil carnage and possibly the banking carnage that will follow (Duetch bank may be?) that will put the proof out there, then all i need to do is to look for it and post the link here.
Mohammad
So Rock baby got the inside scoop and T Boon was left off the memo ?
These guys dont get to where they are….AND don’t lose money…did you ever consider he covered the downside risk at $100 …$60…..etc. ? Derivatives.
I can come up with many different permutations based on many different coincidental events….but I wont engage in confirmation bias.
Deutsche Bank is out of the commodity sphere…see my post here. The exposure to the energy sector is in the Debt in the Shale space. Deutsche has other issues which will eventually lead it to be Nationalised. You wont get your proof there Doc. Another approach and more tests.
sig and Colin I stated oil prices were manipulated to start the dramatic drop from +_$100 to $60 when there was NO supply/demand problems. No any that would justify that huge change. After that it snowballs in the markets that set the price. You and I, and every other driver DO NOT set the price.
So we can all see the glut caused by easy money chasing more production. So my question to you…… if the dollar falls or we start another war and oil rises to $150 (while the supply/demand stayed constant) was it not merely the “market” setting an arbitrary price ?
What will reuters and bullionbank tell you then ?
Jeff L,
Even with the “Easy Money from the CB’s”…the Banks still weren’t able to make money ???? Hmmmmm !!
…New US Regulations… in light of market fixing by the Banks (think Deutsche, Barclays, JP Morgan, Morgan Stanley)….forced them to change course and exit the Commodities game (price making….aka “fixing”).
No smoking gun….just pure unadulterated natural market forces at work. When the Rockefeller family and others got wind of the change….they decided the game was up…”NO MONEY TO BE MADE IN OIL” !!!! That sounds awfully suspicious and yet fully factors into the line of thinking about what effect market makers withdrawing from the commodities complex would have on price. (Look at what concurrently happened to Copper, Zinc, Iron Ore, Aluminium, Tin). Sure you would have seen arbitrage on the way up and possibly on the downward slope too …but it wasn’t price setting….the dramatic drop is more akin to futures delivery failure…..losses begetting more losses….and removal of unnatural forces holding the prices where they were (think PM’s and what they are doing there). Any evidence of malfeasance on the part of the Banks….would have been quickly set upon by the regulators. Algorithms and HFT are present in all markets…you know how they work…I presume.
I will this though….GS has acquired a larger piece of the pie now. It remains to be seen how they will act going forward.
The bankers will make money on the way up and the way down. Again my question………” if the dollar falls or we start another war and oil rises to $150 (while the supply/demand stayed constant) was it not merely the “market” setting an arbitrary price ? In other words todays price is all a matter of perception” ? Oil is now priced below water and vegetables in Canada vs a barrel. Will your argument be the same when oil is $150 ? When the dollar is devalued ALL commodities will be reset accordingly, especially the commodity most needed in this world (oil). What will Reuters say then. Reuters is a MSM behind the curve print.
So glad this discussion will be decided soon.
My friend who I have lucnh with about one every 3 weeks, who works for Superior Energy told me verbatim,
“The world is drowning in excess oil now”
Nice post. Something is rotten in the House……..of Saud. Its starting to stink up the M.E.
You mirrored my comment. May I re-state one thing… “Whatever oil does in the market the dollar will follow.”…. to…. Whatever the Dollar does, oil will follow.
Greg,
all the Bit Coin Bullies out there are already foaming at the mouth for his comments. I think Bit Coin was a great idea, and works maybe o.k. for single use cross border money transfers instead of paying big banks, but certainly NOT a store of value nor something I would trust with a substantial amount of money.
I don’t remember if you asked him in a previous interview:
How much (percentage) of a person’s wealth does Mr. Price think should be in Gold and Silver?
I certainly agree with you, Pablo, about Bitcoin not being a store of wealth! Loved Mr. Price’s statement “people are so easily fooled!” Quote of the decade – not only about Bitcoin, but also about the Fed, the banking system, the Government looking out for the public’s welfare, and so much more…
Jeff L
Maybe I was too vague. What I was saying was that oil and the dollar are intrinsically tied together like dance partners. Where one goes the other will follow. That is why the US dollar is also called the petro-dollar. Just my take on it.
Just Weights and Measures
Ever since the earliest recordings of history, there have been individuals that have sought to gain an unfair advantage over others in many aspects of life, especially in the area of commerce. http://www.jeremiahproject.com/culture/just-weights-and-measures.html
When all else fails consult the manual [Bible]. You can bank on it.
People in the West need to wake up and realize that it is their governments that are their enemies. They have sold them out to globalist interests.
The Death of Europe, By Design
from Oscar Turner: http://www.youtube.com/watch?v=hHxYEC4zNTU
Voice of Europe: The Islamic invasion is destroying Europe, all by NWO design.
RELATED: WATCH: The Anti-Migrant Video Going Viral Across Europe
http://www.breitbart.com/london/2015/11/11/watch-anti-migrant-video-going-viral-across-europe/
Corporate Media Closes Down “Toxic” Comments on Migration, Islam, Gender and Race
http://www.infowars.com/corporate-media-closes-down-toxic-comments-on-migration-islam-gender-and-race/
In response to “toxic” discussion on immigration and Islam, the British newspaper the Guardian has decided to close down comments on those topics. Other topics where commentary will be blocked include race, gender and Israel.
“The overwhelming majority of these comments tend towards racism, abuse of vulnerable subjects, author abuse and trolling, and the resulting conversations below the line bring very little value but cause consternation and concern among both our readers and our journalists,” the executive editor of the newspaper, Mary Hamilton, wrote on Sunday.
Hamilton admits the new policy is a reaction to “a change in mainstream public opinion and language that we do not wish to see reflected or supported on the site.”
http://www.paulcraigroberts.org/2016/02/02/there-is-no-freedom-without-truth-paul-craig-roberts/
8 Ball Islam is the ant-christ it will bring us to our knees or World War III…we gave to destroy this cancer…
Those that welcome this cancer, this filth need to be detroyed as well period!!
This is a planned attack on on white culture, white European history….this will be a never ending war.
Mr. Salinas is a very humble man. I respect him for not coming out and making brash statements.
About Mr. Salinas comments regarding digital currency, I understood him to say that with regard to Bitcoin there is nothing there. I agree.
As I understand it there is an inverse relationship between PMs and the stock market and currencies at the present time. Once currencies and central banks falter this relationship will reverse and, if I understand Mr. Salinas correctly, this reversal will happen quickly. I agree with his thesis. Yes. The value of paper, or fiat currencies will drop dramatically and the value of PMs will increase dramatically. Thus, a forced reset.
I agree with Mr. Salinas hypothesis. This reset is not going to be easy or painless. I think Mr. Salinas understands the implications of such a reset. There is hope for those that have prepared, in advance, to gain an advantage. I agree. Hope is critical.
Mr. Salinas is pointing to the end of Keynesian. economic policy. It cannot happen soon enough for some of us. Keynesian. economics is nothing but a hall of mirrors. An illusion made of light and shadow and, in the end, empty. Good. Let that illusion fall. Along with all the other lies that are being peddled to the masses.
Another excellent interview, Mr. Hunter. As always, thank you!
Like Mr. Price, I’m not a big chart guy. But his chart is very telling indeed.
Diminishing Central Bank reserves shows us that the debt “weight” has started to crush the system and it’s only a matter of time now ’till the collapse. In such a system, they would need to pile on an even greater amount of debt; and the ONLY ways they could do that would be: more QE (money printing), war, or helicopter money.
The Central Banks of the 4 major currencies are really broke when you think about it. Their fiat reserves are paper backed by nothing and their sovereign bonds/Treasurys are not much of the same; hence no real assets of tangible value.
Like Mr. Price said, WHO IS BUYING THE BONDS? The Central Banks are the ones buying each others’ bonds (to keep their ponzi schemes chugging along), as few others are interested in buying such worhtless crap.
I don’t see how it can go on much longer and doubt they have any new tricks they can pull out of the hat. And I don’t think they have a “Plan B” or new monetary system in the works, as there’s no gold or anything else of value that could be used to back it up. Instead, we are likely to witness a very aggressive plan to “ban cash” and they could try to have a new monetary system based on electronic currency only.
WARNING – For the few Karen Hudes followers
In July 2014, I listened to a interview with Karen Hudes. In the interview, she made some outrageous comments that included that she was currently the Acting General council for the World Bank. I knew who actually was the Acting General Council, so I realized right away that this was fraudulent disinformation.
It was very easy to check her outrageous acting legal council claim with a quick phone call to the World Bank. I was transferred to the legal department where I was told that this was a fraudulent claim. I was also told that I was not the only that had called and that a statement would be put up on their website addressing this claim as well any other claims that involved the World Bank. I left my email address for them to follow up with me. Here is what I received a few hours later.
Dear Mr. Macray,
Thank you for your query today. The WB statement on Ms. Hudes has been posted on the external website, and as promised, following is a link:
http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:23590490~pagePK:64257043~piPK:437376~theSitePK:4607,00.html
Statement on Former Staff Member Karen Hudes
Available in: Español, Français
An individual named Karen Hudes has been issuing correspondence and arranging meetings in the name of the World Bank. In some communications, Ms. Hudes has presented herself as the World Bank’s Acting General Counsel.
Karen Hudes has not been employed by the World Bank since 2007 and is in no capacity authorized to represent any arm of the World Bank Group. Any claims otherwise by Ms. Hudes or her proxies are false and should not be viewed as credible.
Best regards,
Maria
Maria Lourdes Kasilag
Senior Executive Assistant
Office of the Senior Vice President and Group General Counsel
T +1 (202) 473-9081; M +1 (571) 277-7645; F +1 (202) 522-1589
1818 H. St. NW, Washington DC 20433
Macray.
Very interesting information. Do you think Karen Hudes is an agent for the World Bank? I know Neil Keenan sure thinks she is.
Jerry
I do not know who employs her but (of the opinion) KH and NK very likely are working for the same employer. They may come across as enemies or rivals but that’s all part of their cover script.
http://exposinginfragard.blogspot.com/2012/07/detecting-disinformation-agents.html
KH is spreading disinformation about a global trust that she claims contains at least 1.715 million tons of gold along with other assets that have been put aside for humanity. Other claims about this trust are so ridiculous one has to wonder if her target audience are ones with less than half a brain. Who could she work for that wants her to spread this global trust BS? IDK
I do know she has had ZERO effect on annual Gold demand!
Macray,
She is finished….if that was added to he reputation….
Take care
Macray, I posted your WB/Hudes info on another website and got my rear-end chewed off for being an idiot. They claimed that the world bank link that you posted was a fake but I noticed that they never bothered to call the WB and verify it. There is a lot of craziness in the air nowadays…
Thanks for the heads up on this person. I recognize the name because others here have commented about why she hasn’t been on.
Faith, IMO she has not been on because Greg Hunter knows enough about Ms. Hudes to know that he should not have her on. I listened to an interview with her on Rick Wiled (Trunews) a couple years ago and she totally lost it and was basically screaming at Rick. Subsequent to that I asked Jim Willie about her (Half full of Shite … just don’t know which half) and I also had a conversation with Rick Wiles about the interview and he basically said that it was a completely weird interview and .. oh right … we won’t be doing that again. I am sure you can listen to the interview in Rick’s archives. Yours, DB.
Color me shocked. I paper work making her acting Counselor General must be with the 176,000 tonnes of Gold in the jungles of the Philippines
On another note, I do agree with Mr. Price that a major revaluation in gold would need to take place (in order for countries to be able to trade equitably). But two observations about this theory:
1) Since the West (mostly US, UK, Europe, & Japan) is really mostly out of gold reserves (ignore outdated Word Gold Council figures as they are at least 10 years old) and still have the “power” to print money out of thin air why would they ever want to go back to a gold standard or something else of value to back it up? They think this can go on forever; otherwise, why have they sold most of their gold in the last ten years (which has mostly gone to the East/Asia)? Moreover, they are fighting tooth and nail to suppress the [paper] price of gold. They have no plan (other than perhaps a “cashless society” as I explained in my previous post).
So in other words, how could a revaluation of gold take place in such a context?
2) The only revaluation of gold I could see taking place would have to be initiated in the East (Asia) since that is where most of the gold has flowed to in the past decade. The only way I see this happening would be:
a) if China were to re-state their gold reserves and partially back the Yuan (an unlikely scenario since firstly that would create a huge demand for the Yuan and make it appreciate greatly in value – something they don’t want as it hurts their exports and secondly could cause further domestic turbulence); or
b) the BRICS issue a gold-backed common currency to be used for global trade. They certainly have the reserves to do so. This option would be much more appealing to countries vis-a-vis some worthless/unbacked fiat SDRs from the IMF. Moreover, this strategy could tie in very well with recent initiatives such as the AIIB (in which even many Western nations chose to be a part of), ‘One Belt, One Road’ initiative (of reviving the Silk Roads), CIPS, etc. Furthermore, in current times Asian countries’ currencies are taking a hit because of the dollar; hence, breaking away from the Greenback and adopting a more stable currency would not only benefit their economies but stabilize currency flows (a major contributor in their current economic woes) and avoid any unnecessary currency crises. Why they don’t get on the ball and DO THIS, I really don’t know. Wake UP and DO IT – you can only benefit from it! Mr. Price – if you read this proposal please tell your Asian/BRICS friends about it!
The second scenario is the only way I see gold being revalued (other than China openly stating their reserves and challenging Western countries to do the same – again an unlikely event given their culture).
If anyone else has other theories on how such a revaluation could take place, I’d love to hear some; please post here.
Thanks
Gold can be revalued by the US after they confiscate it from the public – like Roosevelt did during the Depression.
You mean like when Gold was Money ?
Fast forward to 2016….Gold is not part of the monetary system.
They have nothing to fear…..or…do they ??
Would that imply that Gold and Fiat would be joined at the hip again…in other words Fiat has the backing of Gold.
Hmmm…not a fat chance in hell…if the Banksters keep getting their way.
Any Banker (worth his weight) …knows that Gold is like shackles around the neck of fiat and credit proliferation. I know full well that is what is required to bring some equilibrium back to the system….but the Keynesian world revolves around growth…exponential and…perpetual.
Thank you for asking, Dan.
My notion is this. All currencies will be revalued against gold, and an opportune way to accomplish this is when the Shanghai Gold Exchange begins setting the price of gold.
Spit-spot: no hot wars, no blatant trade wars, diminishing currency wars.
We’ll see if it happens.
Just my notion. Thanks again for asking.
Current Link
http://www.worldbank.org/en/news/press-release/2014/07/08/statement-former-staff-karen-hudes
Thanks Greg. There is just something about the way Mr. H. S. Price explains his views I could listen too everyday.
To Mr. Price critics. Mr. Price has forgotten more then most will ever know.
Great interview, Greg! Mr. Price is a class act, and very humble to boot. He is definitely right about “retraction” and the public trend to get out of debt. For some reason it seems that even some tv shows are promoting that idea too – I like to watch HGTV, and they have all of these “tiny homes” shows on now, where people live permanently in homes under 500 sq. ft. because of trying to stay out of debt and/or trying to live free of clutter (which can lead to debt!) Then there are all the renovation shows on how to redo an old house instead of building a new one. I guess they are just trying to keep the masses pacified while they live on a stricter budget. In any case, getting out of debt is perhaps the best thing a person can do for one’s financial life, but I’ve just been surprised to see the trend touted on the tv too!
China is ramping up its Gold purchases. Why?
http://www.bloomberg.com/news/articles/2016-02-03/gold-demand-to-increase-in-china-as-investors-seek-haven-assets
Lets not kid ourselves, the PBOC is the largest Bank in the world with more assets (listed assets) than the Federal Reserve Bank. Who did our government borrow the most money from (2.5 Trillion dollars) in 2008 to prop up the Central Banks? That’s right the PBOC.
Every ounce of Gold that is being purchased by China is being bought with money from the sale of U.S. Treasuries. They have purchased Gold storage vaults in New York City, and in Frankfort Germany for a reason. These cities will be the central trading hubs for the new exchange system that will being going on line soon. The CIPS system has been tested with all participating banks in the AIIB, and directives have been sent out. The final phase will begin with the Gold benchmark in April. From there it is anybody’s guess what will happen.
Additional information to my last post.
http://www.ibtimes.co.uk/world-banks-rival-asian-infrastructure-investment-bank-launched-by-china-100b-capital-1538463
Jerry, the title of the link is a prediction not a fact
G500
I am only posting a fraction of the information that’s out there concerning the BRICS alternate exchange system. I post this link only to support the others. They are preparing to step off the U.S.Titanic whether we want to accept it or not. True to our nature most Americans won’t (or don’t care enough) to know about it until its up in their grill. Even the Exchange Stabilization Fund won’t be able to stop this one.
As far as war, the Chinese know we are a paper fiat tiger. They know there’s nothing they need to do but wait. My advice. Grab onto something solid.
You trust the listed assets of either the PBoC or the Fed? What do they hold?
“A change of this sort is an enormous event.” Hugo Salinas
Humanity is in a situation which has never been seen in the history of the planet. We are facing a world in decline. The decline of our environment due to misuse and greed. The decline of natural resources due to overuse and waste. And an Intervention from forces beyond the earth who seek to take advantage of a weak and divided humanity. The Great Waves of Change are looming on the horizon. Who will see this? Who will respond?
Sooner or later the Creator
Greg,
How would one describe AMERICA today?
1. War Monger.
2. Fiat Money Specialist forcing the world to accept the Fiat Dollar via the Petro Dollar.
3. Destructive Wall Street Banks.
4. Illegal Out of control Federal Reserve (The only thing they reserve is profits for their owners and control of the Political System).
5. Out of Control CIA. (False Flag Specialist? Illegal Drugs? Political asassinations? Etc.)
6. Anti Christian via Politically Correct BS.
7. Anti Judeo / Christian priciples via Government edict (Supreme Court).
8. Corporate Controlled Main Stream Media better known as brainwashing.
9. Banker Controlled Congress and Senate. i.e. Nancy Pelosi on Obummer Care; Let us pass the bill and then read it.
10. Drug Companies out of control.
11. Too big to fail, too big to prosecute Banks, no one goes to jail, only fines.
12. One Party Political System called Corruption.
13. 911 False Flag the end of American Freedom as we knew it!!!
14. After laying people off Jamie Dimon of JP MORGAN gets a 35% pay raise.
15. It has been said COMEX controls the price of Physical Gold through its Paper Trades.
16. A government that has put us 19+ Trillion dollars in debt and that does not include unfunded liabilities.
17. Does anyone doubt a student graduating high school in the 1940’s had a better education than s student graduating today and look at all the money we have thrown at education.
The above is a sample of woes.
America has wonderful, hard working ,intelligent, generous, charity giving citizens trying to raise a family that are being sold down the drain and things need to change.
Our forefathers shed their blood so that we could be free and as a society we have returned to serfdom under the flag of POLITICALLY CORRECT, DEBT AND WAR. America wake up and throw out both the Republican and Democrat parties as they are one and owned by the Bankers. First step to American Freedom; eliminate THE FEDERAL RESERVE! The 100 Year Charter for the FEDERAL RESERVE has expired and not renewed by congress, IT IS AN ILLEGAL ENTITY!!! Second step to American Freedom create a legal currency backed by gold.
The most impotant thing we can do as a Country is restore Judeo / Christian principles and put the Almighty GOD of Abraham, Isaac and Jacob and his only Begotten Son Jesus Christ back into our lives and ask for devine providence AMEN.
Let us hope it is not too late and the woes descibed in the Bible Book of Revelations are not about to fall upon us.
David, no one ‘wants this to be over’ more than the average consumer in every Country in the World. People hate the fact that everyday brings a new financial disaster, calamity of War on the horizon, or environmental disaster. People want to wake up in the morning and just live a decent peaceful life….most people. The financial disparity across the globe is causing most of the strife between people and Countries. The World is the ultimate ‘chess game’ for politicians, and the one’s that pay for their mistakes are average working people.
Mr Price is giving his educated opinion on topics he is well versed in. You can choose to accept his view and react, or not. He freely gives the information because he is a compassionate human being IMO, just like Mr Hunter, Mr Holter, Mr Sinclair, etc. People choose what to listen to, read, view, and accept as advice in all manner of things pertaining to life. ONLY the HANDFUL of people controlling the World’s finances ‘know’ when things are going to change, in THEIR FAVOR; the rest of us would be in the dark if not for the guidance of financial authors like the ones I mention above. I am greatful to be able to listen, read, and view the advice they are giving, and do with it to the best of my abilities to protect my future life.
St Matthew Ch 6 VS 9-15
I have a question.
If a country try to reprice gold? What if other countries don’t agree with the price?
diane, Who ever owns all the gold gets to set the price, (china, russia, and india) If you don`t have it and you need it, you will be forced to pay the price.
No country sets, nor can set, the price of gold.
(The exception is for accounting purposes, not for trading purposes.)
Hay occasnitrivr. So your telling me that if china has all the gold , and you want it, They don`t have the right to ask for what ever price they want? where will you get it ? Supply and demand,you ever heard of that.
Oh yea and by the way, you stated no country can set the price of gold. What the hell do you think our lying , stealing , crooked bankers are doing right now.
In every way this action reeks of desperation by the western central banks. The United States has no vested interest in the south China sea, so why the provocation?
http://www.abc.net.au/news/2016-02-03/raaf-patrol-flights-facing-more-regular-resistance-from-chinese/7138100
Jerry – I have wondered about this too. The only things I can come up with are:
The war hawks in the US are pushing China hoping for a little skirmish sometime, to further their agenda and war budgets,
Or TPTB want to disgrace China in front of the world to keep the US shown as still being #1 top dog,
Or our allies in Japan need to be assured of the continued support for them in the US.
Maybe it’s a combination of some or all of the above. Who knows??? It sure is poking the dragon tho!
As Mr. Price explained – China would say we will pay this much for gold, a lot more than what it is now, and voila the price of gold is then at that price point, and sellers would flock to sell to them which would reinforce the new price. It will have been re-valued, and others would have to pay that much also if they wanted to buy gold. Roosevelt did it, just announced the new price. I’m sure it’s more complicated then this but that’s the jist of it I think.
Diane,
The “other countries” DON’T agree with the price. They think its too low, so they buy (accumulate) it aggressively with both hands while they can; bargain hunting!
JBD
I meant like one powerful country…say Russia. ..after all banks failing..we are crashing and burning….have a lot of the gold and declare a gold standard and set the price at 10,000 dollars an ounce…and declare themselves the new world currency……and other countries don’t agree with their price.
Could something like that happem?
Thanks Greg, good interview and good information from Mr. Hugo Salinas Price regarding the contraction in central bank debt. As individual entities have their debts called and they in turn call on debts owed, there will be defaults. Lets call those defaults “sin”, because in my view and the view of many, taking on a debt that you cannot repay is a sin; it is theft.
Will the Federal Reserve act as a sin-eater (economically speaking, not in a religious sense, it’s a metaphor) one more time and add more debt to its balance sheets? Per the HSP graph, the answer appears to be “No”, they are reducing debt, not taking on more. They have played sin-eater for the last 7-8 years and they are done.
Will banks call on depositors to act as sin-eaters by bailing-in and absolving the bank of its debts? They may, but to what end? It brings the banks closer to solvency, but what does it do to the economy when you reduce the velocity of money to zero? By essentially taking bank deposits and replacing them with another IOU (debt) that will only be repaid after the dollar is depreciated and its buying power is reduced significantly, the banks will have committed another sin. They will have passed their debt on to an innocent (middle class workers and retirees). Maybe those banks bail-ins will be an attempt to make middle class workers and retirees into the sin-eater. As I recall though, a sin-eater took on the burden voluntarily and I know of no one who will volunteer to have his life savings stolen to pay off the gambling debts of a bank.
At the end of this contraction/depression, some entity needs to be the sin-eater — to take on the enormity of all this debt, allowing us to start over. That is a major burden and a thankless role, but maybe (a very small maybe) it will lead us to change our ways so that we don’t repeat those sins.
That final sin eater may be gold.
Hi Greg. I think it’s a mistake for you and mr. Salinas to underestimate Bitcoin and the blockchain technology. While I value both of your opinion, and enjoy your perspectives, I think it’s a mistake to believe the coin will not have a huge market share in the solutions of the future. One of the things that makes gold so valuable is the property that it can’t be created out of thin air. Bitcoin shares this property. Bitcoin has other properties that increase its value relative to gold, such as the fact that you can know how much any person or Institute has at the moment. What this means is if you keep your coins in a bank or institute you can determine whether or not they have enough to repay their obligations. I encourage you to check out http://www.uphold.com – this will very likely be the way that banking institutions operate in the future, in an environment where people have a huge distrust of the banks, which is going to be a natural consequence of the banks going bankrupt, not being able to pay their lenders such as the depositors or other banks with they’re owed. It also makes a lot more sense for people to be able to conduct transactions digitally. The value of a system that has very very low transaction fees like bitcoin is that it will help reduce overhead of companies doing business internationally or even locally. There are so many reasons why cryptocurrency will have a place in the basket of solutions of the futute that it’s disheartening to see Mr. Salinas ridicule a very real solution. Banking CEOs, attorneys, and many other high paid professionals will be affected by this technology because the blockchain does not require trust. I received a newsletter from Doug Casey, one of your other guests promoting this techn. I also know people like Mike Maloney and others are also putting some capital into bitcoin. Why? It is a system that is transparent and protected intrinsically through mathematics (cryptography). Yes it has problems, but they are being worked out day by day. Don’t fall asleep on bitcoin.
Sorry Alex, you lost me when you mentioned ‘Bitcoin shares this property’. Bitcoin is nothing like physical gold.
The only thing in common is the color, which the creators cleverly used the color gold to emulate everything it isn’t.
Unfortunately the day will come when we all need to use cryptocurrency, but I will never use it as a store of wealth……..MtGox should be warning to the infallible cryptography.
Digital currencies are so highly reliant upon an electronic infrastructure that many people (myself included) do not trust them for the purpose of buying potatoes from my neighbor.
Dropping silver into someone’s hand withstands any “interruption in service.”
The American public is sleep walking and being led by the nose down the garden path.
They have not awoken yet and discovered that physical gold and silver are indeed REAL money. Whereas the rest of the world have known this to be the case for many years. Gold is up in almost every other currency, except the US dollar.
The US dollar is the best looking corpse in the morgue. Therefore it must be a thing of value and a preserver of wealth. So why should I own gold? As the rest of the world is soaking up as much physical gold and silver it can gets it’s hands on!
By the time the American public wakes up and smells their ‘lattes’ , it will be much too late. There will be NO GOLD to be had at any FIAT PRICE.
I agree with you Allen,
Bitcoin and its formidable blockchain is an ideal foundation fora solid monetary system.
Two caveats: Both parties have reservations.
1) The Powers that be hate it because ‘they’ didn’t introduce it, thus have no control over it: i.e. no no backdoor subroutine to bypass the blockchains’ cryptography with which to syphon off insane amounts of wealth that they didn’t earn.
2) The general public: i.e. sheeple could tell those vampire-squid fuckheads to go die miserable deaths merely by using bitcoin en mass, but they won’t. Too ignorant and lazy, confused, brainwashed, etc…sheeple. Most will do what they’re told.
He is missing the new money called SDR in October 2016
for the SDR to work (it is after all a product of weighted currencies), then it must include gold, the only “real” and universally accepted currency. The key that is the conundrum for the elites is the weight that they will assign to it.
The SDR was created in 1969. That’s not exactly new.
Greg, I am all for steak!! Mr. Salinas-Price is a gentleman we all should aspire to be like … and I feel he speaks from the heart with common sense and wisdom.
That said I can not tell you how disappointed I am that Mr. Stockman has the opinion that he does in regard to the 2nd amendment … it has nothing to do with hunting; it has everything to do with tyranny and our ability to protect ourselves in our personal life. History shows time and again that the first step to absolute tyranny is to disarm the little people … well … that aint gonna happen here on the homestead. Yours in Faith and Liberty, FN, DB.
db where is your homestead located I am attempting to create a homestead of my own in a small village on the Med on the Turkish Riviera The people here are pretty much self sufficient and even if the worlds economic system were to collapse their lives would barely change and I think that’s a great place to be right now All the best to you
Fredrick, Speaking of steak … we slaughtered a steer today and I am bushed!! I am happy to tell you of our “homestead” … we are in the western US and in what James Wesley Rawles has dubbed ‘The Redoubt’ and while I may be being naïve to think that we can maintain any degree of anonymity I will cling to my Faith in Liberty and hope for privacy! That said and in the interest of OPSEC I will not be totally specific as to our location. I will qualify my term “homestead” by saying that most of the ranches here are thousands of acres … I am thinking that Colin of NZ can measure his land in cows to the acre where as we here get to measure our land in acres to the cow! … that means it is quite dry here. We are the ‘Grass Fed Cattle Co.’ and we have about 200 acres of patented land and a couple hundred more of leased grazing land so put into local perspective we are “little guys”!
We mostly raise and put up grass hay for our winter feeding and our cows are strictly grass-fed and are quite lean (and tasty)! The idea of self-sufficiency is one that I have pondered much about because any one person can only do so much by themselves and no one can do it all … that said it behooves us all in terms of survival to have as many skill sets as possible under your belt. I was a marine engineer for 35 years so I know how to pull a wrench/weld/design/fabricate etc. We raise Brabant Belgian draft horses and while I do drive horses (not too much these days) we have all the horse-drawn equipment to farm and log with them. I have a sawmill so that I can provide lumber for the homestead and for others. We produce all of our own meat products and have recently been acquiring the tools necessary to process our own meat and for others. The key to survival is useful skills IMO. In addition we can our own food; make our own wine and spirits and cure and smoke our own hams and bacon (the best I have ever had!!).
We are GOTS and I believe that being out of debt is extremely important. With all that said I will tell you that I have been known to screw the pooch on occasion and I bet I will screw-up again before it is all over … life is a learning curve that should never end until the last breath. Thanks for asking and I look forward to further exchange. Your friend in Faith and Liberty, FN, DB.
PS … Fredrick I meant to tell you that I have been to Izmir, Turkey a number of times beginning in ’69 and into the 90’s and it was always a pleasant experience and a really nice city … a place I would take my wife and I have been to a whole bunch of places that I would not take her!! Yours, DB.
Sounds great db If I ever get just a small operation going I will be happy Enjoy the bacon buddy and thanks for the response
Man I love this guy. Thanks for posting Greg.
God Bless.
I’m by happenstance working around a bunch of CNN people. It’s crazy how biased they are. They don’t even try to hide it. One guy is from Canada and just became a citizen, another guy (both producers) joked “Now Trump can’t deport you.” They’re all-in for Hilary. It’s pretty disgusting. I mean, nice people, but, total establishment. That’s why you’re winning. They do keep reporting on his tweets and such but they really hate him and will do anything to get him down. Even Sanders they’re scared of. This reporting on Hilary “winning.” Such BULLSHIT! It’s an argument over who won the first inning of a baseball game, if that. The race still has so much more to go.
Anyway, I’m out of work, and it just hurts to see that this is who people trust for “news.” It’s a total spin job.
Save Me,
Keep posting what you see with the CNN people if you see it again. I worked there and when I was there it was pretty far left as well. I try to be objective and fair but I’m old school and CNN is now a political spin organization as is the MSM in general. Thank you for your comment and behind the scenes reporting.
Greg
They are not nice people on CNN
.My son use to always watch and message me their “news”.
I contradicted it with facts so often, he no longer watches.
I don’t watch TV. I have become very well educated here in the internet.
I hope you find a job soon, save me.
Greg you’ve made the big time Your interview with David Stockman which was fantastic is being featured on the famous “Zero Hedge’ congatulations
Thank you Frederick.
Greg
Greg meant to say thankyou so much for this interview, also just one little footnote and sorry to harp on the collateral thing, but I believe that based on that simple chart mister Price presented and the ‘Blow off top” it points toward the stupid artificial reduction in liquidity or so called “austerity” if they don’t collateralize the system soon, with in five years there will not be one loaf of bread, one meat cut on any supermarket shelf, in fact super markets may entirely just vanish, just my guess/opinion but that chart shows impact occurred 2 years ago this is collapsing as we speak.
Greg, CNBC is in a full court press this morning touting “great time to buy stocks”. Maybe they need to have a billionaire like Mr. Price for a counterbalance of their spin sometime. I enjoyed Mr. Price, bright, articulate, and most of all a real gentleman deserving of his wealth. Thanks for having him on again!
https://www.yahoo.com/politics/trump-cruz-fraud-iowa-165834563.html
Trumpet is getting the taste of Washington politics, a Canadian one that is…LOL
Mohammad
Iowa primary better than the Kardashians.
Get the popcorn out. Republicans brawling…..and now 90 precincts are missing Democrat votes!
The Clintons strike again!
WC Fields always said:
“Anythingworth having is worth cheating for ”
Clinton and Cruz family values?
Wow…..and it’s just starting.
Greg….I hope you have fun on the Friday recap
with this Iowa primary.
Here’s pie in your face Bernie and El Trumpo.
Wow.
“Gold will pull humanity forward again.” Hugo Salinas Price
I love this guy. (Salinas)
What a feeling to find a person of Mr. Salinas level confirmimg exactly what I expect in the same way he lays it out in his written piece ” The Coming Revaluation of Gold” to come.
Only who understands, that gold is the Base measurement of value, understand what this man ist talking about. And he is much smarter than this interview brings on.
I would love to listen to his views all day long. (Only his facial expression talking about bitcoin :-). – no words more needed).
The current money policy problem as a methaper in my words.
If you want to measure the length of a room you use a stick of a certain lenght. (currency a)
Another person uses another stick of (another) certain length and measure the same room. ( currency b)
Now they measure the sticks against each other and get a certain relation.
Now Mr a, out of a reason, shortens his stick (value = printing curreny). The result will be that the lenght of the room grows (=currency supply, woow its magic)
Now the Mr. B shortens his stick (value = printing curreny) and the lenght for his measurement also grows.(= money supply)
They compare the sticks, there is a relation (maybe a little different, but watching this result you wont realize that the sticks are shorter, the relation changes somewhat in one or the other direction).
They repeat and repeat this (= currency wars) and while the sticks (tools of expressing the measurement) go against zero ( imagine they hold splinters, ha ha), the length of the room goes against endless (currency supply), measuring with it.
Still if they meassure ( the splinters ) against each other, – nothing to be seen there, there is a relation between the splinters.
That I think is an example what FED, ECB, BOJ, a.s.o. are doing with the currencies.
The solution to the “lenght” problem is a fixed length to measure with, be it the UR- Meter or another system everybody can orientate on.
The solution for value is gold. ( doesnt grow – only slightly, doesnt get used up – very neccesary)
Instead of that, we meassure most stuff in $ , therefor “value with a stick.”, while the manipulators hold the “length” of gold as short as they can ( its a farce) nobody realizes whats going on.
Think about it, there is more in it that you might think.
If you understand that, you will buy gold.
And one day, all will be revalued to gold.
Apologize for my english.
Of course I know here are many well knowing readers, but I wrote that for those still asleep. As a German I loved America esp. its people all my life, until recent years as a very irritating shift happend.
But its Greg, Selinas, Kirby, Schiff, Celente, Prins, Dr. Roberts, Holter, Hofman and many more I still have hope in the America it once was … keep the Christian faith up, and pls dont call Christmas holidays – its a fight in a small way, but very important.
Thank you Greg for your efforts and work!
F.W.
I loved America too and I guess I still do. At first, I blame Obama for all the hope and change but I now realize it’s a lot more than that.
Btw, is this video a true reflection of what is happening all over Europe or is it an exaggerated anti-migrants propaganda piece?
https://m.youtube.com/watch?v=_LjjOJCDDWE
its not fake, in the bigher cities, it is like that.
the boy at the beginning is th good boy our system expect them to be.
“Talking to solve problems”
The foreigners use the style of primitives, force.
But rest assured, we still have that other kind of guys germany is known for, and the anger is growing from day to day.
Its said that “Michel” is very very patient, but when patient is lost, the world might burn again …
I hope something will be done before the world burn again. I’m fearful the pendulum has been pushed so far and fast that it would swing back with such destructive force, truly moderate secular Muslims would suffer unnecessarily.
Thanks for the response, best of luck and I’d borrow the phrase from Grey “Fear not”.
Thank you,
indeed my dentist is a Persian, Shiit Muslem, Iran.
Thus people never ever caused problems in Germany, they are very well educated people.
I feel sorry for them, as I well know the majority ( esp. the right wingers) wont know the difference between Muslims and Muslims.
In regards to David’s post. That’s the “Religion of Peace” at work……the killing of a 10 year old boy. With the way things are going economically for so many countries in this world, including the U.S.A., I’m afraid we may be seeing all kinds of wicked acts of such. If history repeats itself there’s a very good chance we will be at war soon, if for nothing else than a smoke screen in an attempt cover up the evil deeds of the banksters, corporations and the politicians.
I truly believe we are entering the beginning of the tribulation that the Bible speaks of. May God help us all that seek Him.
The other day I noticed a news blip that none other than JPM Co was working on a ‘project’ that invloves ‘blockchain technology’. Hmm? let’s see now what could that possibly be?? Seeing as how the Federal Govt has used JPM as ‘their’ private banking cartel for the past years to dole out ‘ benefits credit cards’ , ie, food stamps, etc, suffice it to say it won’t be in the citizens favor whatever is going on there.
Here’s what I mean about not relying upon just MSM ‘programming’, not a word of this on ‘Bloomberg’ to my knowledge. Yet it is important for investors in the Stock Market to be aware of because it affects the price of the stock they own.
http://www.dailyrecord.co.uk/news/scottish-news/american-electronics-firm-announces-scots-7256930
16:28, 27 Jan 2016 Updated 16:28, 27 Jan 2016 By David Taylor
American electronics firm announces Scots plant to close – resulting in nearly 400 job losses
AROUND 365 workers at the Texas Instruments plant in Greenock, Inverclyde, met with bosses from the United States today and were told the Scots factory will shut its doors.
A MAJOR electronics firm is poised to close with the loss of almost 400 jobs.Staff at the Texas Instruments (TI) plant in Greenock , Inverclyde, met with bosses from the United States this afternoon.
They were told the Scots factory will shut its doors and operations be moved to Germany, Japan and Maine.The plant, which was formerly owned by National Semiconductor before it merged with TI in September 2011, employs around 365 workers and is one of the biggest employers in Inverclyde.
Gerry McCarthy, the firm’s Scotland site manager, told STV News: “Decisions like this are never easy, and we don’t make them lightly. While the rationale for moving production out of our Greenock fab makes good business sense, we understand the impact it could have on our employees and the community.“This is certainly not a reflection of the performance or commitment of our people but due to the efficiency of the site itself…..cont’d
And check this out from one of the poster’s who commented at the end of the article>’Peter Dow is a Scottish scientist and a republican socialist whose legal human rights are cruelly violated by the police and courts in Aberdeen, where he lives.Peter Dow’s political defence blog publishes the truth about the wrongful and unjust royalist arrests, prosecutions, convictions and punishments he endures.’
peter-dow.blogspot.co.uk’ Interesting to say the least!
Oh, and to the poster above who wrote that Mr Hunter was now famous because something of his was posted on ‘Zero Hedge’, I say blasphmey! ‘Zero Hedge’ was made famous because of it! ‘Our’ Mr Greg Hunter of (already) Watchdog fame is THE go to guy!
Thank you “Notyourpatsy.”
Greg
In response to several posters on oil prices: The subject of oil prices remains very interesting to say the least. So many different theories, so many points of view. However, I’m still skeptical. There’s no doubt that demand for oil world wide has decreased…..that’s a given. Going off of my research, it’s to my belief there’s much more going on behind the scene than simply a loss of demand due to poor economies around the world.
In it’s most basic form, it’s being reported that some oil producing countries are keeping oil prices down for political reasons in an attempt at taking jabs at their adversaries. It’s also a fact that some countries are not only going away from the Petro-Dollar. In addition, it’s being reported that several countries are trying to economically break the U.S. and to break the Petro-Dollar in general.
Then we have those that believe it’s all part of a master plan to world dominance.
So IMO it simply depends on what and whom you choose to believe. As for me……I believe the political aspect has every bit as much to do for low oil prices as the drop in demand. It appears to be a multi-faceted situation, however. My main concern is it will lead us to war with obummer at the helm. God help us all.
I will add that the reports of drilling companies going bankrupt in the U.S. may lead to more bad news for the banksters, which IMO the average citizen will have to pay for it one way or another. I think I’ve seen this dance before.
2016 is going to be very interesting for sure.
“So IMO it simply depends on what and whom you choose to believe.”
Dislike that statement because a liar is usually the best debater, or the loudest voice.
This quote reminds me to do my homework, and my own thinking.
“Truth, like gold, is to be obtained not by its growth,
but by washing away from it all that is not gold.” – Leo Tolstoy
ED1,
I think both scenarios are valid. We tried to bankrupt Russia with low oil price like we did Soviet Unions once before. However, Putin is too smart to fall for it again and the plan has backfire. Now, the ball is pushed back at our court and we have to save the banksters and probably the country from the low oil price.
China is probably watching patiently on the sideline to see which would go bankrupt first. I don’t think the Chinese will make a financial move against us if Putin lose. The dollar will live on for another 20-40 years.
The only problem I have is that I’m not too sure if I want to stand with the banksters.
Hello Greg:
Perhaps it is time to bring back Gregory M. If Mr. Salinas-Price is correct that there is a debt deleverage taking place, gold will revalue, and we are going into deflation, can you imagine the carnage a epic loss of life that will ensure? Gregory M alluded to this over the last few interview you had with him, the correlation of debt increase and population growth. One can infer, deleverage and negative population growth. Very scary scenario.
I guess when all else fails, you can always drop your pants and yell fire. That’s what this move by the Fed seems like to me. I guess we all knew it was coming, didn’t we?
http://www.bloomberg.com/news/articles/2016-02-02/rates-less-than-zero-is-bank-stress-fed-wants-to-test-in-2016
Roosevelt’s revaluing gold did not create inflation. Nor did it eliminate outstanding debt.
Inflation and deflation both shift control of the means of production. Inflation, to creditors. Deflation, to debtors.
Revaluing gold shifts control to the owners of gold. Only their debts are lessened. Those with debts and no gold still owe those debts and have no new means to pay those debts. The Kennedy Family did not turn in their gold. They became wealthy. Those who complied and turned in their gold were impoverished.
Are reserves debt in this example?
I am trying to get my head around this. What is reserves exactly? And do really have that?
Greg, off topic but – if you have time can you give us an update on the California water crisis. I believe NASA said Cal was going to run out of water within one year of March 2015.
Thanks.
No need Martel, the negative population (control) growth was just put in place by the (created) Zika virus! It’s now know to be transmited sexually like VDs, so who’s gonna play? Most people don’t even notice if they’ve been bitten by a mosquito. Heck, most people are too self absorbed in their handheld devices to even notice a bug bite……until it REALLY BITES! They’ll certainly be some stock plays from public reaction to this!
Oh, and I did not vote for Gov Christie who has ruined Nj farther with his lack of leadership; and is a nobody running for President because his wife works for one of the Big Banks in NYC. He’s essentially living on the public dole for the past 2 years doing NOTHING as a Govenor. The People of the State of NJ are fed up with him.
So my next comment is how the heck did the people of the State of Texas vote Cruz for their Senator? This guy stinks all over from where I’m looking! Father born a Cuban National + Mother a Liberal Democrat = baby Cruz born in CANADA = Democrat Lite, not a Right Wing Republican! He was born in Canada makes him a Canadian citizen, because neither of his parents were in the US Military at the time (or possibly ever), and neither of his parents were US Govt employees (were they?). Anchor baby Cruz Canada! Disqualified get off the stage!
Thanks for another great interview Greg. I am also very wary of bitcoin but trying to get my point across usually results in severe trolling by the bitcoin faithful. I think that the technology has merits but I can’t see that any government would adopt anything other than their own crypto currency. All they would have to do was make their own version the only legal currency for wages and taxes, and bitcoin and all the others would be driven onto at much smaller black market at best. Governments are about control, and if they can’t control it, they don’t want it.
Jeremy that’s what I believe Why would the powers that be allow any competition Just doesn’t make any sense
http://www.zerohedge.com/news/2016-02-03/guest-post-how-blockchain-and-gold-can-work-together
Mohammad
http://www.globalresearch.ca/who-owns-the-zika-virus/5505323
Off topic Greg, but relevant in case you do an interview with this in mind.
I’m tired of the Rockefeller name.
Do you know that zika virus spread where they released the genetically modified mosquito in South America…?!
http://www.zerohedge.com/news/2016-01-29/zika-outbreak-epicenter-same-area-genetically-modified-mosquitoes-released-2015
AND WHERE ELSE DID THEY RELEASE THOSE MOSQUITOS…..??????
Can we say…..FLORIDA?
http://www.truth-out.org/news/item/31664-meet-the-new-gmo-mosquito-millions-carrying-the-kill-switch-gene-already-released
Mohammad
Tad/Mohammad
The drug and health industries are very much entwined with the petrochemical behemoths and the agenda ridden elite that underwrites them collectively. The dangerous games they play are thinly veiled behind the cloak of humanitarianism. With advances in science and genetic engineering their irresponsible and reckless actions have become more and more threatening to life on this planet.
Cheers
Col
Greg:
You keep rolling out the heavy weights. The Hugo Salinas Price interview is priceless in his conveyance of wisdom and extensive experience in the economic financial world. He keeps his “simple” views concise and elegant. Time sooner than later will demonstrate his accurate view of the world we live in. At the end of the day, bitcoin will be proved to be an electronic financial Ponzi scheme and gold will shine like it has for the last several thousands of years – a blinding glimpse of the obvious.
Bitcoin is being treated as a commodity in the US because the US didn’t want to legitimize a currency not issued by a government. The Bitcoin Foundation blew it by trying to go mainstream the way they did.
Señor Salinas Price’s article on the gold revaluation strikes me as overly optimistic on the resurgence of US manufacturing and employment. He skips over what will surely be a dangerous, chaotic period. I doubt a world on the gold standard will politically resemble the world we have now. (Note to people calling him Mr. Price: Price is his mother’s maiden name.)
http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=281
Gold/Silver are treated as commodity too….!
Mohammad
Mohammad,
I think you are wrong here. At the very least gold will be a premier form of collateral. Bit Coin as collateral is doubtful.
Greg
Greg,
Gold collateral?
Gold is MONEY.
Bitcoin is digital currency.
there is a big difference between money and currency.
Lumping the gold/silver in commodity is to ban it as money.
Lumping bitcoin in commodity is to ban it as digital currency, since the feds have one ready to roll out when time is right for them.
Mohammad
But Greg and Mohammad, who sets the price on a revaluation of gold and what if other countries disagree?
What am I missing here boys?
SYRIA will decide the final outcome of gold, global currency…etc.
Lets see which way it swings.
I maintained over the years here on the blog and so far am proven right.
STALEMATE in every thing until Syria is decided.
Then hell breaks loose.
Mohammad
Diane, whichever country has the most physical gold will likely set the price. By the time revaluation becomes unavoidable, people will be extremely reluctant to part with their gold, which will drive the price up even further. If another country wants a lower price, please explain how you think they will force someone to sell gold to them at the lower price. (That’s probably the part you’re missing.)
The saying goes ‘he who has the gold makes the rules’ therefore China, may have the last say on the revaluation of gold.
G dude ;
It would be illegal to miss jury duty/pay taxes, but to opt out of the corrupt voting, it is my moral/civic imperative. How did u like this corrupt ted cruz/your guy at one time, throw carson to the wolves? For trump, pride goes ahead of destruction, a haughty arrogance too. Ceasar didn t ask for taxes, he ordered it, voting is optional. duddie
GALAXY 50002/02/2016 •
Your comment is awaiting moderation.
I hate that spell corrector!
I don’t doubt that you being a non voter would miss construe that. Ceasar asks for taxes, jury duty and voting. I Jesus’s time, you couldn’t vote or do jury duty… just taxes. So miss interpret away, Dude. Miss Jury duty for something where they need you, don’t have enough people to proceed and see if there aren’t serious consequences. They will throw the book at everyone that doesn’t have an approved excuse.
Nice try Al. Stay home, don’t vote attempting to bring about the apocalypse. Even the POS that Bush is would make a better choice the Hillary or Bernie.
Greg,
Feasible in my book, that the reverse repo is happening…but still only conjecture.
I personally have no doubt that the Banks are engaged in Naked Reverse Repos…..and are leveraging themselves …..on pure thin air. Forget the collateralised stuff….this is outrageous. Criminal acts done with impunity. I have said many times that the Fed and its Agent Banks are playing the hidden QE game because of the bankrupt nature of the system and the losses that have been sustained and kept under the rug.
People shouldn’t make assumptions about HSP and what he does / doesn’t know.
He makes a valid deduction from the reduced global reserves. In effect this is debt liquidation. We know China and Russia have offloaded tremendous amounts of Treasuries….to buy/build tangible assets….like Gold and Real Estate and Infrastructure and Ghost Cities. Even to convert to cash with which to provide to state run businesses…..???
The other side of the coin …rightly posed as a question by HSP….who took the Treasuries ?….and how were they paid for ? I am sure he has clues about that…but not willing to overtly spell out …how CORRUPT the BANKING SYSTEM really is.
The alarm bells have been ringing for 18 months…and no one has heard them ?
Everyone must be tone deaf….
Sometimes one little picture speaks more than a thousand words.
Thank you for brining him back. I knew that article on $1 Tln Reserves reduction from HSP (Plata) I posted week before, got your attention.
This guy is genuine and in a roundabout way he has the same beliefs that I do. He consistently displays an enormous amount of sensitivity in his dialogue. No finger pointing, no names…just factual information. We can deduce from his dissemination …what is required to be done and what is occurring in the very foundations of our monetary and economic systems.
He is a good man.
Good information from the latest “Sovereign Man” letter:
“Financially insolvent governments of major superpowers do not simply go gentle into that good night.
They don’t suddenly turn over a new leaf and start embracing economic freedom.
No. They get worse. More desperate. More destructive.
Should we honestly believe that the government can continue to indebt itself indefinitely without consequence, as if the largest accumulation of debt that has ever existed in the history of the world is somehow consequence-free?
At some point, fiscal reality always catches up. Maybe not at $19 trillion. Maybe not even at $20 trillion.
Maybe it takes 3 months. Or 3 years. But somewhere out there is a straw that can break the camel’s back.
Never forget that if something is predictable, then it’s also preventable.
And facing such obvious trends, it makes all the sense in the world to take some simple, rational steps to put together your own Plan B.”
gold and silver are catching a bid today as the dollar declines and the daily report on the Baltic dry is down 5 pts to 298 crazy new record low Things really must not be moving as they reported recently
Jerry, IMO that’s pretty significant for the FED to even come out and state they “May” consider having the big banks to go negative. Also, in the FED stating that it’s worked out well for some other countries that’s went negative…….well I wonder how well that’s been working out for the little guy that gets even more of their hard earned money sucked away by the big banks?
Easy for the FED to say such things, eh?
We have it already for 5 years or so.
Why are you guys surprised?
It is only on checking account, at least with chase.
If you go under certain limit on your checking account you are charged, that is a NEGATIVE interest rate.
The only missing part of the story is just announcing by the feds what has been implemented for years.
Mohammad
Something BROKE…..ever since the divergence of the silver “fix” happened we are experiencing the big run up in paper Gold and Silver prices. Coincidence?
Bill Holter wrote a piece on what he thought happened with the “fix” set 84c below the spot price:
http://www.jsmineset.com/2016/01/28/weapons-of-mass-financial-destruction/
The manipulators (cartel) also don’t seem to be crushing the price on their normal attack times, as Andy Hoffman usually discusses in his Milesfrankin articles.
Is Jim Willy welcome back as a guest? He might be able to answer Mr Prices questions about what is happening. I noticed he used to be on quite regularly but not for a very long time. Was wondering if his language was offending someone here? He seems to have cleaned up lately.
Greg,
Turkey invades Syria, I bet you my money Russia invades Turkey:
http://www.zerohedge.com/news/2016-02-04/oil-spikes-near-33-after-turkey-invade-syria-rumor
Oil at 300$ is in the cards, GS and Rockefeller’s are scooping it now at 30….WOW!!!!.
Thanks Martin Chavez, thanks KENSHO’s “WARREN”.
Mohammad
And Saudi Arabia is ready to sen troops to Syria:
http://www.zerohedge.com/news/2016-02-04/saudi-arabia-ready-send-ground-troops-syria
Enjoy the oil at 30 before it is multiplied by 10…..!
Mohammad
Mohammad,
Sounds very possible to me.
Greg
Greg, thank you for another interview with Mr. Salinas Price. He is not only wise, but also a good man.
SurvivalBlog.com just linked to your interview with Mr. Salinas Price. The world is learning what USA-Watch-Dogs already know.
Would the last one in the MSM please shut off the lights.
Slam Dunk….aha…eat that….. !!!! 😉
Hi Greg, I encourage all ‘doggers’ to listen to Rick Wiles interview last night … (Trunews.com) 3/Feb/16 … with Mr. Wayne Jett (Fruits of Graft) as to the financial condition of the US and the world today and how we got here. Yours, DB.
Very informative, thanks!
“The end result is nations, governments are going to have to revalue gold because that is the only thing they will have left. They will have to resort to that to keep trade coming in.”
this guy doesn’t get it. they don’t want “to keep trade coming in”, they want it to stop.
“No country is completely independent economically. We all need things others produce. . . .”
yep.
“In order to have that world trade going, we are going to have to go back to gold.”
yep, and they’re not going to allow it.
HS Price asks who bought the trillion in bonds? It was the ESF-the exchange stabilization fund
Yes, one needs to read zero hedge twice every day-
The best thing Nixon ever did was to take the U.S. off the gold standard and let the market set the price of gold. Quick history lesson , Nixon took the U.S. off the gold standard because all these worthless Countries like France were coming to the U.S. with the boat full of dollars ( given to them by the U.S. anyway for some scam.) wanted to trade in for U.S. Gold. I think the U.S. would not have this 8,000 and some ton of gold in Fort Knox ( it is not there anyway) that they say it there. Any way, That did not allow this worthless country like France, to use their worthless U.S dollars and go to the open market and buy gold. Like think , Japan, in the 1970’s, we were buying all their crap junk products and they were buying our worthless government treasuries, just think how rich they would of been if they had bought gold ? Fast forward to today, Somebody in China grow some brains and thought for themselves. They thought, in stead of buying all these worthless U.S treasuries lets buy gold. And like I said before China will not back their yuan by gold, but will price gold in yuan making the Comex worthless.
Another indication of calling good evil and evil… good. A hero may get booted out the military.
http://www.breakingchristiannews.com/articles/display_art.html?ID=17510
Laura,
Shame on the Pentagon and Obama if he does not stop it.
Greg
Greg interesting sidenote Mr Prices mother was from Eastern Pa where he grew up as was my mother who had the same surname and grew up half an hour from each other It is Welsh Wonder if Im related somehow frederick
ZIKA = closed borders = climax of financial crisis,
Zika is invasion to latin America to “control” the epidemic and while doing that ties with gold backed notes for good’s delivery are severed.
Mohammad
Mohamad, there’s a big difference between what you stated on minimum amount in a checking account and negative interest rates. I for one do not like the idea at all for being charged to put money in, or use, any bank. What about direct deposit by employers (which will effect many people) that really cannot afford to have anything more taken out of their paychecks or business accounts? Any kind of fee of such will surly be absorbed by the little guy. Perhaps a doctor can afford such, but not the little guy.
http://www.zerohedge.com/news/2016-02-04/four-days-after-predicting-oil-will-double-t-boone-pickens-sells-all-oil-holdings
No wonder why GS’s Kenosha’s program was called “Warren”:
https://finance.yahoo.com/news/warren-buffetts-oil-bet-nears-180458991.html
Mohammad
KENSHO’s
Darn it with auto text editing.
Mohammad
I like this old timer. Always have. He has common sense. It will boil down to a very simple economy……can we trade or do you have silver. Gold is your savings…..or big buys. This society is just like the unfortunate Jew in Germany…..1938 ish…..They just can’t accept the fact, they are being lead to a slaughter. Oh…..and I love the Tribe of Judah.
Great interview Greg! I had actually just done a new blog article (see link below) that reviewed Mr. Price’s new article on gold revaluation so I was glad to hear him expand on that in the interview. Larry
http://lonestarwhitehouse.blogspot.com/2016/02/hugo-salinas-price-world-to-solve-debt.html
In my article I noted that the Canadian mint already produces a 1/2 ounce silver coin with a $50 face value stamped on it which just shows you that they can revalue gold or silver at any price they want to very easily at any time:
http://www.mint.ca/store/coins/the-2015-silver-50-for-50-coin-subscription-prod2280258;jsessionid=43A41E87E957D34C5083AFAB782F7D30.node2-2?o_action=crossSell&rcmiid=link|productpage|youmayalsolike|The_2015_Silver_50_for_50_Coin_Subscription&#.Vqt9arIrLIV
Does Hugo want a solution?
http://www.totalitariandemocracy.com/lectures/public-articles/platformletter
Greg; Mr Price was anexcellent ointerview again and has something he i trying to tell us. Mr Price showed us a very important little chart. Folks here ought to go back and look at what he said again. It is a big deal. It may take some years for this tend to bottom but it will take a generation time span to finish. Like every other major change it will last until the next generation thinks it will last forever. Then the screw will turn again. But recognizing the change now gives us a chance to figure out how to live with the new normal. Come on Watchdogs, start on that now.
Superb interview Greg! President Trump’s finance advisor? May be not, but surely he will figure out how to pay for the wall… Ultimately, Trump’s program of bringing the production back to US so as to raise reserves and thus the ability to pay the debt…. Yes it will be very nasty, especially when USA stops buying products from outside!! Based on Hugo’s presentation , there are not that many options available. US can not continue on the recent years trajectory. I also have felt that the oil price collapse is not as significant in the picture of things as the press wants to make it. Wise man this Hugo!
Rostomic,
I agree. You simply have to make things here otherwise we are doomed. Thank you for comment.
Greg
Getting title (ownership) is the name of the game. Mr. Salinas Price is right. There will be an “orgy of defaults”. But, gold will not be revalued until there is a massive wealth transfer to creditors (mostly the same banks that got bailed out here and in Europe). We are all Greece! A depression means that money is “short” and jobs are scare. Through no real fault of their own, millions of people will become slaves to the lenders. The only way out is the global realization that lenders should not have issued unpayable loans in the first place. The only way out is a sabbath rest for debts.