3.9% GDP Nonsense-Dollar Turns Sharply Soon-John Williams
By Greg Hunter’s USAWatchdog.com
Economist John Williams is not buying the recent 3.9% GDP upward revision. Williams explains, “No one I know thinks we are growing at 3.9% other than they are trying to sell a bill of goods to the markets, specifically the currency markets. 3.9% is nonsense. You had 4.6% growth in the second quarter and 3.9% in the third. Here you had two quarters at close to 4%, and we have not seen anything like that since 2003. This is the strongest economy we have seen in 11 years, and I can tell you Main Street USA is not seeing that. . . . If you understate inflation, which the government does, you overstate inflation adjusted growth, and that is probably the biggest problem in the GDP report.”
Recently, the U.S. deficit passed the $18 trillion mark, but using honest accounting, Williams says the debt picture is much worse, “Using generally accepted accounting principles with expenses and obligations, what you are seeing is the actual deficit. Instead of being half a trillion dollars last year, it was more like $6 trillion in the same length of time. The gross federal debt right now is $18 trillion. If you add on the unfunded liabilities such as Social Security and Medicare, you are approaching $100 trillion in terms of total federal obligation. There is just no way that can be covered. . . . The government, long term, is bankrupt.”
That brings us to the U.S. dollar. Williams says, “Right now, we have a big distortion in the market, and that is the strength of the U.S. dollar. I contend the dollar should be getting much weaker, and indeed it’s going to turn very sharply very soon, and that will be an approximate trigger for a major upturn in inflation. The reason the dollar is strong right now . . . the U.S. economy is booming, if you believe the statistics. Main Street USA doesn’t believe the statistics. The rest of the world is in recession, and guess what? We’re in recession too. We’re just not reporting the numbers as accurately as the rest of the world.”
Williams has revised and pushed back his hyperinflation forecast to begin in 2015 and not this year. Williams, now, expects a big upturn in the price of gold and oil next year. Williams explains, “The issue remains the dollar. What is distorted in the system right now is the dollar’s strength. It’s the strongest it’s been in some time. It’s over stated for multiple reasons ranging from outright manipulation to overstatement of economic growth and other games that have been played. That’s going to reverse shortly. As the dollar sells off, you will see inflation pick up. Part of the reason why oil is where it is now and part of the reason why gold is where it is now is because of the dollar’s strength.”
So, what about the future? We start with the not-too-distant past of six years ago. Williams says, “We are still living in the throes of the panic of 2008. What the central banks did at that time, specifically the Fed and the Treasury, was to take actions to push all the issues into the future. They didn’t do anything to solve the basic problem. The banking system is still in trouble. It is far from solvent, far from normal. You don’t have regular bank lending. If you had regular bank lending, the economy would really be much stronger. It’s not.” Williams goes on to say, “People outside the United States know America is in trouble, and they know the dollar is in trouble. It’s not going to take much to trigger a reversal of the current circumstances. It could be an unusually weak economic statistic, and believe me, those are coming.”
Join Greg Hunter as he goes One-on-One with John Williams, founder of Shadowstats.com.
(There is much more in the video interview.)
After the Interview:
There is free information on John Williams’ site. Click here to go to the home page of ShadowStats.com. Williams also provides paid subscriptions where he posts analysis on a variety of economic subjects every week. His subscriptions are $89 for six months, or $175 annually for his detailed analysis. Click here to become a ShadowStats.com subscriber.
Greg, what if the US defaulted on those external dollars, and not the internal currency, then might the impact be less?
Yes, that’s true, but from their perspective manageable. The US has defaulted several times in the past, including only externally. When they did this no hyperinflation was experienced by doing so. If they were to default on the external debt only it could be a way to avoid domestic disaster?
Here is a link to a good summary of some past US defaults from Barry Ritholtz’s site.
By Default …I believe that you refer to Outright default !!
In which case the debt is reneged ….hmmmm. I don’t see a situation where the citizens of the US get out of that one without PAIN. There would be instantaneous flood of dollars onto world markets….sending the Dollar plummeting, crashing all financial and derivative markets, sending prices of everything to the MOON. It would be a bloodbath followed by CHAOS across the Globe and that my friend is something out of the Armageddon scenario.
BTW….Previous US Major defaults occurred at a time when the USD wasn’t the linchpin for the monetary system. New Paradigm….Massive Consequences.
Have you ever seen a flick of a school of piranhas when they smell/taste blood in the water? Or a herd of gazelles when one of them is spooked by a lion? That is what you will see when the world decides to ‘Sell, Sell, Sell.’
Mark my words, it will literally happen overnight. I once knew a lady who was present when the Russian Bankers/Russian Politicians were meeting with the IMF, at 2 a.m. on the day that the Russian Ruble collapsed about two decades ago. The bank holiday was the next morning but she was too late, she didn’t have time to get to an open bank and withdraw her funds.
Fortunately she had enough cash at home to get by for the duration of the time that the crisis was at it’s peak.
Take Heed All.
Oil prices low for any length of time may require oil rich countries to sell treasury for USD then sell USD for local currency to make up the difference.
I have the hardest time putting my head around why anyone would prefer the Euro, Yen, Rub, CHF, or whatnot over the USD. None are perfect but I do believe that the USD will be the last one down the slide in this huge nightmarish playground we find our currencies in.
Central banks, by playing a relative game and due to legal tender laws, can all take turns creating inflation by printing their currencies and debasing their currencies.
The dollar is strong vs the other fiat currencies in the basket now and when it gets too strong, the Fed will turn on the QE4 printing press and it will be Japan’s turn for the Yen to rise and the Euro to stop falling as it will also be doing its own QE..
The one currency that is constant is gold (and silver) and it doesn’t debase it self, so they have to manipulate the price of it lower other wise gold would be appreciating against ALL fiat currencies.
Silence is Golden 12/02/2014 •
Hanging the criminal bastards is inappropriate /too soft in my book.
Line them all up and execute them through beheading…one by one.
Then watch how fast the rest of them run.
You really feel the passion that Rob has in this interview….he’s as mad as a cut snake.
I think i know where to get some gullitiones maybe cheap, 🙂
Funny that. I thought that they were all locked up ready for use at a future “Depopulation” event. Then again, if there ever were a revolution, they could come in handy. 😉
I would suggest that the Dollar doesn’t collapse until they have lost the war against Deflation. The Dollar is the world’s monetary system…. they are one in the same.
The BRICS system will take time to evolve. A collapse sooner rather than later (of the Dollar) creates a template for the IMF and SDR’s to gain a foothold.
Jim Willie said recently that the dollar hyper-inflates (rises) then crashes. There is a lot of truth in that. The painful part is that the US is causing massive inflationary pressures across the globe because of its insane policies of money printing and financial oppression, forcing other countries to follow suit with the printing game.
Everyone at USAWatchdog.com is here because we want the unvarnished truth … John Williams gives us just that … we don’t want the “Baghdad Bob” fairy tale lies told to us about the economy and are fed up with the mainstream media … however there is more to the truth then can easily deciphered … and a lot more we humans have to worry about then just the strong dollar, or the true price of gold and silver, or storing food, etc., etc. … lets connect a few more dots … so buckle up … this may cause some initial shock even to those with an open mind.
First of all it is vitally imperative that humanity worldwide “begins acting sane” in there dealings with one another … secondly humanity must root out the evil CABAL from their governments, military’s, industrial and financial institutions and bring them immediately to justice … if you ever read what the CABAL has published with much hubris you will know exactly what they are working toward … you will find the CABAL is working intently on an “anti-human” alien agenda (called Agenda 21) that essentially calls for the extinction of mankind from planet Earth.
The only reason the CABAL is working so diligently toward advancing such an “evil agenda” (of human annihilation and extinction) is ostensibly for some big reward (could it perhaps be immortality?). The CABAL (just like the Vichy government in France during WWII ) is helping to further “an alien agenda” who’s ultimate goal is “the complete extermination of humans from planet Earth”. The CABAL is a bunch of insane lunatics who actually believe that helping the “off world aliens” in a mass execution of the human race will then give them the right to immortality!?
Sound weird? … well scientists have now gathered undeniable proof that aliens have exterminated humans before. Recent scientific probes to Mars now provide conclusive evidence that aliens have always been our enemy … it is seen in the destroyed human colonies found on both the Moon and Mars which occurred in the very distant past and is also reflected in Biblical records that show humankind was purposely wiped out in a Great Flood (except for Noah and those in his ark). The scientific research presented by theoretical plasma physicist Dr.John E. Brandenburg at a recent meeting of the “peer-reviewed” American Physical Society shows without a doubt that there were nuclear explosions on Mars consistent with an airburst of mixed fusion-fission atomic bombs. His work (also set to be published in the Journal of Cosmology and Astrophysics) describes the basis of his proof … the high concentration of Xenon-129 found in the Martian atmosphere and evidence of Krypton-80 … along with a detected pattern of excess abundance of Uranium and Thorium on the Mars surface … all these telltale markers could only have been produced by nuclear weapon explosions.
This data (first seen by the Russians) and now confirmed by our Mars Odyssey Spacecraft Gamma Ray Spectrometer means that the surface of Mars was once the site of massive radiological events (nuclear war) which not only created a large amount destroyed architectural ruins including severed heads of statues (like the face on Mars that incidentally has recently been found to have teeth) … but there are also “signature isotopes” that cover the entire surface of Mars with a thin layer of radioactive debris (enriched radioactive elements not found in the subsurface rocks that our explorers dig into). This radioactive debris fallout can only be explained as being due to large anomalous nuclear explosions on Mars in the distant past.
This means that those of us not totally insane like the evil CABAL can’t sit back and cover our eyes anymore … or allow our families and children to be “herded to slaughter” without saying a word. The CABAL is currently rapidly advancing their “evil alien agenda” … and humanity’s extermination is taking place right before our very eyes … connect these few dots… they’ve developed deadly viruses in Africa (tested them there) and then brought them here to America … they’re planning an “actual nuclear war” with Russia next year likely instigated by an Israeli attack on Iran … they have already destroyed much of humanity’s underground drinking water by fracking for oil and gas all over the world … and have completely succeeded in releasing “deadly plutonium radiation” into the Pacific Ocean destroying a great part of humanity’s food supply … Fukushima had to be “a carefully designed accident”… because no one in their right mind ships all the worlds plutonium to one spot in Japan (located directly over a fault line and in the path of common tsunamis that occur on a regular basis around the Pacific Ring of Fire) … the result is that now we have tons and tons of deadly plutonium enriched radioactive water is flowing into “the largest food producing ocean on our planet” … sadly, it won’t be very long before the entire Pacific Ocean will be dead (with no algae to produce oxygen for us to breathe and only a few radioactive fish left for us to eat) …. and don’t forget all the GMO crops that have almost killed off the bees … humanity can’t survive more then 4 years without bees.
Even if humanity “acts now” to lock up the evil CABAL that are doing their best to quickly destroy us … we are still going to have “Major Problems” dealing with the clean up our water and food supply … but the “Really Big” problem we must contend with is the very formidable alien enemy we have out there … that have “proved by their past deeds” to be humanity’s mortal enemy over countless centuries most likely because “they think we are crazy and morally defective” … Can’t fault them there!!! … but perhaps they will give us a second chance if we can begin to act more rational toward one another … but can you see the Arabs and Jews put down the hatchet? … can the Shiites and Sunnis?? … can the Japanese and Chinese?? … the Chinese and Koreans? … American Blacks and Whites? … etc., etc..
If not (we won’t be able to prove to the aliens we can be rational beings and live in peace with our brothers) … I have a feeling it’s probably too late to do anything to save humanity … many of our children now dosed with fluoride, injected with adjutants and showered with aluminum “contrail dust” have IQ’s below 80 and are kept “high” on heroin by a CABAL who sends our military to protect their “cash cow” heroin fields in Afghanistan (instead our military should logically be burning down all the poppy fields) … humanity’s kids now in the military are lucky to have “half a brain” left to decipher for themselves what is morally right … so the big question is will they blindly follow the orders of the evil CABAL (who have no qualms about destroying all of humanity for their own gain)? … and fire on and kill American citizens if simply told to do so?? … Why is the CABAL so evil? … is it an “inherent moral defect” or just unbound greed to attain the “promise of immortality?”… a promise that most likely will never be kept by
the aliens anyway … as the aliens know full well the CABAL are a bunch of raving mad Loony Tunes that will have to eventually be “put down” once they have served their purpose. So fear not, even if the entire world has to die in a nuclear conflagration the CABAL hiding safely in their underground bunkers will not escape justice.
Others around the world know exactly what the evil CABAL is up to … and it is unconscionable … if humanity worldwide doesn’t “wake up” and open their eyes right now … and take a stand to quickly lock up the evil CABAL (demonstrating to the aliens that we are in fact trying to be rational beings) … then humanity (eyes closed) will simply be marched to the guillotines … and only when the final blade comes down on their heads (like a thousand thermonuclear bombs) will their eyes open wide “for but a brief moment” … however all they will see then is blinding light and mushroom clouds … it will be humanity’s final “wake” that provides “a last fleeting glimpse of humankind’s total demise” … only then will humanity finally comprehend the reason why it was so important to stand up and take action sooner … and to have been more rational in their relations with other people on our planet … in order to save it … much to late to save a dying world from complete nuclear annihilation … humanity will simply close their eyes once again … as they lose all that they ever loved … families, friends, wives and children will be extinguished forever … and only the lingering lethal radiation hovering above our once beautiful blue Earth will be the “telltale sign” (to the explorers from other worlds far beyond our Solar System) that there once existed a human civilization on this beautiful blue planet we’ve called home … just as we now view the nuked civilization that once existed on Mars.
PAUL: ON YOUR SUBJECT MATTER– YOUR ON TO THE TRUTH! PAUL, I HAVE A SPECIAL FRIEND- A HIGHER UP IN THE CIA RETIRED AND HE WAS A SCIENTIST WITH BLACK- OPS FOR MANY YEARS. A BRIEF SELECTION OF HIS COMMENTS TO ME:
1. NOTHING IN THIS WORLD IS AS IT SEEMS- AVERAGE CITIZENS HAVE NO IDEA WHAT IS HAPPENING AROUND THEM- DUMBED -DOWN FOR A REASON.
2. FOR 50+ YEARS WE HAVE TRAVELED IN SPACE- LEAVING THE SOLAR SYSTEM ON A NEARLY DAILY BASIS FROM AN UNDERGROUND BASE IN CENTRAL AUSTRALIA. – IN OUR OWN UFO SHIPS. HE WORKED ON THESE FOR A TIME WITH PHYSICAL ALIEN HELP.
3. HE SENT THIS TO ME
A GOOD WHILE AGO. = https://www.youtube.com/watch?v=O0C_oHCpQto
HE KNOW OF THIS EVENT(S)! THIS IS TRUE.
4. AND NOT RELATED TO THIS, BUT GOOGLE IT- OBAMA WHEN TO MARS YES, HE IS CIA BACKED. OBAMA WIFE IS A MAN- I HAVE THIS FROM SEVERAL SOURCES TO INCLUDE DR. WILLIE WHO KNOW OF THIS!
No idea about the comments above but if you want to see something that will absolutely blow your mind on this topic from the local FOX News Channel in Denver, CO then you’ve got to watch this video:
I’m not familiar with what you posted … but nuking the CABAL’s underground bases sure sounds like a possible way to prevent a world wide nuclear war and save humanity.
However, the CABAL’s underground hiding places all have to be destroyed “WORLDWIDE” so as to put all of humanity and the insanely crazy CABAL on a level playing field.
When you say ” humanity must root out the evil CABAL from their governments, military’s, industrial and financial institutions and bring them immediately to justice” I strongly agree.
However many before us have made valiant attempts and yet the establishment remains unmolested and more powerful than ever.
A quick glance shows that the system is in lock down. It is impossible to change it within its own parameters. It is designed to be resistant to anything other than revolution, but there are few revolutionaries left in the world. The Current World Order’s system is close to perfection. It is a matrix of absolute control. Only a small number of people (some 6,000) run the world, yet they are backed up by all the agencies of oppression: the police, the military, the intelligence services, the law (designed, ultimately, to protect the assets of the rich). The billions of ordinary people in the world, who could sweep away tyranny in an instant, are too scared to fight back. They are cowed and docile.
Until the masses no longer tolerate the condition of slavery, no longer mire themselves in trivia and meaningless pursuits to pass the time, we shall remain at their mercy. Above all things however, the Current World Order fear what would happen if their manufactured mastery were challenged by legions of those who had found their higher selves and lost their fear. As it stands we collectively are no threat to the Establishment for we are too compliant and too obedient. Slaves look to others for answers. What is required however is true individual introspection…this is where our solutions lie.
Inevitably what will be required to break the chains, is Revolution and Bankruptcy.
The Cabal is desperate.
They are losing. That’s why they made the Illuminati commercial.
They have already lost their anonymity. Game over for them.
I think humanity is sufficiently evil on its own without aliens being involved.
Baghdad Bob GDP-all ye need to know
Love your high quality interviews. Any chance of mailing your guests a lapel microphone? Distance from the microphone is letting down some of the interviews.
If you want a donation to help with this idea let me know.
Martin van Luyn
Good morning Greg.
As John just stated, the dollar could make a quick turn around heading down sharply.
Would the major financial sectors and the Federal Reserve use a ‘false flag’ event to cover up the mis-handling of the economy, and the true condition of it all? Stating that vital financial records have been erased or lost due to cyber terrorisn?
How would the recent ISIS (yesterday) threat concerning attacks on CONUS play into this I wonder.
North Korea is also a possible ‘cyber attack’ mechanism.
Not to mention ebola, the invasion from the south (any terrorists in that mob, as well as drug cartel ops) and the ongoing unrest in the Ukraine and the Russians, etc.
It seems like the stage is set to cover up or blame the reversal in the economy on a handful of senerios.
Anyhow just a thought and thank You.
Mike DFW Texas
mike, I hadn’t thought of those scenerios. That makes so much sense. Thank y you for your input.
Thank you Susan, may GOD be with us all and this Republic.
I must say that all of your guests seem to have convincing arguments for why the USD should collapse and a return to the gold/silver backed currency but they ALL have missed their predictions so obviously there is still something the EVERYBODY is missing in their hypothesis regarding the USD crash.
Greg I always love to listen to what John Williams has to say. Thanks for bringing him back to us.
I think we are seeing inflation balanced by the rest of the world. At the same time deflation becoming unbalanced by OPEC divisions. Saudi Arabia helped create the present worlds currency and now they will take it down when the oil prices come back up. Setting oil up as the controller of all world currency’s. At present the FED printing has the power. Just my thoughts.
This may be the magic bullet.
Speaking in London, the Prince who is a senior Saudi royal and the former head of the country’s spy agency, said that the kingdom would not repeat previous mistakes of surrendering its share of the global market for crude to its rivals. His remarks come just days after a controversial meeting of the Organisation of Petroleum Exporting Countries (Opec), when the group appeared split over a decision to keep producing at current levels. Full article read.
The whiplash will create a even bigger economic war. http://youtu.be/PRrwmrZ0sAQ
JC- the Saudi Royals have known for some time how the USA has “used” them in their scam. They have figured where the elite are taking this world. They bought our debt, via Henry Kissinger’s plan. They now are breaking free from the dollar as is most of the world- the dollar is dead already. Saudia’s have chosen China to be their new friend- don’t blame them – the USA can’t be trusted.
Al Hall. Will this hurt Russia more then the USA. ? Lot of variable’s to weigh out.
Captain Ds went up on there prices this month by 5 % Allen ols said when food prices go up the rarely come back down.
A guy is walking along a Florida beach when he comes across a lamp partially buried in the sand. He picks up the lamp and gives it a rub. A genie appears and tells him he has been granted one wish. The guy thinks for a moment and says, “I want to live forever.” “Sorry,” said the genie, “I’m not allowed to grant eternal life.” “OK, then, I want to die after Congress balances the budget and eliminates the debt.” “You crafty little bastard,” said the genie. . .
Thank you for your effort to interview of John. His information is important and relevant.
However, this interview was rendered almost unintelligible due to John’s microphone issues. Room noise was destructive, encoding artifacts were distracting, and coupling (voice to mike distance) was poor.
I’m sure you’re aware of all these issues and have done the best with what you captured.
I suggest that several changes could and should be made at John’s end. The primary change I’d suggest would be for John to wear a clip-on mike and to place it as close as possible. This one change would greatly increase the voice signal level and this would go a long way towards mitigating room issues (distracting sounds, frequency selective feedback, etc.) and would increase articulation.
EARL: TOTALLY AGREE WITH YOU! VERY POOR AUDIO ON THIS ONE!
I USUALLY FORWARD TO MANY OTHERS- BUT NOT THIS ONE.
I usually love to hear whatever John Williams has to say, but unfortunately the sound quality of this piece was so bad that few of his ideas were conveyed. In such a case, a transcript of the interview would be greatly appreciated.
greg; TERRIFIC!!, al
sam adams quote;
“Let the men of wisdom speak”…Always enjoy hearing John Williams’ interesting information. The bottom line is that the government is lying through their teeth for political gain. Even worse than that, it is our fault, we elected them. Of course I use the generic”we” in this case. Thomas Jefferson was right, we have gotten the government that “we” deserve. If you are not preparing for a major catastrophe you are making a very large mistake. Remember, the future belongs to the prepared.
Tell John to fix that Skype connection.
WHEN MIKE GLEASON SAYS THIS – YOU KNOW IT’S BAD!
With all due respect is it possible to have subtitles? I don’t know why but I find it extremely difficult to understand a lot of what John Williams is saying.
John’s audio is always crap!
Good interview Greg but the sound was so bad I could hear you clearly but John Williams it was very hard to understand the sound was so bad sorry justin
First you need to understand your master.
When they created the Fed is was going to fix everything.
Banks would no longer fail because they would have this lender of last resort.
First who is the lender of last resort?
So it makes no sense to me that people would get mad when the government bails out the banks when you have been doing it for 100 years.
Why was the Fed really created?
To ease the fear of the big banker families.
They knew that they could loose everything if a economic down turn took place and they were caught short.
Having the Fed was a must to protect their wealth and power.
Which banks are expendable?
Any bank that is not a major share holder in the Fed.
Countries are not important!
Preserving the banking system and the major banks is the only thing that’s important.
They will do what ever it takes to keep these banking families in power and these banks intact.
The lifeblood of the banking system is debt. The most lucrative way to generate debt is to fund governments and thereby gain the ability to influence policy decisions which lead to war. Then, through funding the combatants, massive debt is generated and all without the banker having to lift a finger or participate in the slaughter.
Directly after the US Federal Reserve (a Rothschild agency) was was established, America went to War and it has been on a war footing, of course sliding deeper and deeper into debt, ever since then.
If you want to “understand your master” you should understand this fundamental aspect related to his method of operation.
Hi Greg, love your work. I have you as one of my favorites on YouTube. My problem is bandwidth. I live in an area where the only way I can get Internet is with my satellite dish. I am allotted 15 GB a month at at normal speed, after that I’m throttled back to dial-up speed for the rest of the month. As you can imagine that happens rather quickly when I use video. So what I’m asking is if in the future you can offer just the audio portion of your interviews for those of us where the bandwidth we use is critical?
Tom, I’m in that same boat, but I’ll sacrifice bandwidth for Dr. Numbers! I call exceeding bandwidth and being busted back to dial-up speed as being put in “time out” (a form of wrist-slapping!) by HughesNet for my being a bad boy…Best always. PM
Mr. Williams has been singing the same song for years. It’s about time that he admits that he’s wrong. what he fails to understand and take into account is that all countries are involved in devaluing their currencies and that the U.S. is, as M Armstrong says, the prettiest of the ugly sisters, and will remain so for probably several years.
Indeed, he has Peter. However, his only fault – if you can really even fault him, was that he (like many others) never fathomed the depth at which our financial-political complex would stoop to prop up the system and maintain the status quo. What those who are calling for ‘years’ more of this – including an ever-rising $DX, fail to recognize, is just how important and pivotal geopolitical events can change the landscape – faster than anyone thought possible. Look at what has transpired just within the space of the past 3 – 5 years on the global stage:
– The U.S. is now considered to be a ‘threat’ to Russia, if not outright declared Enemy.
– China has surpassed the U.S. in purchasing power of GDP. *This wasn’t supposed to happen – ‘for decades’…
– Nations are either trading outright, or looking for ways to trade outside the $dollar payment system.
– Repatriation of gold held outside Western nations has awakened as a direct result of the monetary and accounting chicanery of the U.S. towards its ‘friends’.
– The U.S. is looked upon by our trading partners and even some of our key allies, with suspicion and disdain for our policy actions around the globe – i.e., U.S. agency spying, terrible ‘collateral damage’ from drone strikes, meddling in the affairs of other nations’ political processes to suit an outcome that is at odds with the American public, etc., ad-nauseam.
All of which to suggest Peter, is that events are happening at a pace that no one thought possible as recent as 3 years ago. And this pace is not showing any sign of pulling up – in fact, perhaps just the opposite.
PPP is not a measure appropriate for the comparison of an economy’s weight in on the global scale. PPP calculations are largely intended to measure LOCAL purchasing power.
There is a tremendous amount of idiocy being spread regarding the the recent this bit of news, and those who promulgate it are one or both of two things: ignorant, or/and seeking to profit from those who are ignorant.
What in the world is wrong with the audio-visual equipment that John Williams was using for this interview? The sound was so distorted I was getting a headache, I finally had to turn it off. Everything seemed normal on the usaW. end. When something like this happens, I tend to think it might be purposful on orders from the top (I have a suspicious mind).
I’m always thrilled when you have John Williams on, his insight and knowledge is second to none, but it’s been really tough trying to hear what he’s saying. He needs to be informed that his computer needs repairs.
Greg: over all Williams is correct. But, look back at his past predictions- very poor track record. How many years has he been wrong about hyper-inflation??
Dr. Willie is a much better guest speaker!! Have him back!
greg Al ;
I agree, it is coming, remember al, John needs to really only be 80% correct on his prediction, to keep us alert, and me on my toes.
I forgot, Jim Willie in a most recent interview, stated, we are already in hyperinflation.
Greg: don’t believe so – he has been calling for hyper-inflation for years and years. In the end he is correct- I agree. I believe we have walked off the cliff- just have hit the ground yet!!
Mr Williams has been reporting the true #’s on inflation, unemployment, ect for a long time. He has been correct all that time. His main thesis has been exposing the incorrect #’s(read lies) the gov hands out. He also correctly states that using the correct #’s this country never came out of the recession…… Making it a depression in my book. Without gov assistance and particularly EBT cards (food stamps) the lines of people waiting for food would be eye awakening…………… Those here who complain we haven’t seen the dollar crash are in a deep sleep (like the other 99%). The purchasing power of a dollar is down to @ .01 since the Fed opened it’s doors (100 yrs ago). Will you be satisfied when that’s reduced to .005 (1/2 cent) ?
John Williams is a dedicated guy and intelligent as well. But the downside is he that he is
a very tortured speaker. He is a heavy breather and goes into much detail. I like what he has to say, but find it difficult to listen to him all the way through. Torture.
Many agree with that- read comments!
Great interview! I always wondered what happened to good ole “Baghdad Bob”? Apparently he is well employed with the BLS supplying us with economic BS.
Meanwhile, the MTBS (mean time between sayonara) continues to get shorter. You can feel it like static electricity from a close approaching thunderstorm.
I agree with Peter, this “collapse” could take, 7, 10, 15, 20 years? They can stay liquid longer then us, unfortunately the sheep are a bigger concern at present time. Love the site, keep up the good work.
China, Russia, Middle East and Sth. America will not put up with the current system for another 5 yrs. The US has stolen, forced and lied its way to prosperity at the expense of other Nations for far too long.
“Green Light” to War on Russia, Legislation in US Congress:
Michael Krieger comments on this legislation in his blog LibertyBlitzkrieg:
One of the bullet points in this piece of legislation is the call to “an end to interference by the Russian Federation in Ukraine’s internal affairs”:
Michael Krieger points out that the whole bill in Congress is very dangerous, but this last bullet point is also extremely hypocritical since “The U.S. government admonishes Russia for interfering in Ukraine’s internal affairs (a nation directly on its border), when Ukraine just granted an American private equity manager citizenship so that she can be Finance Minister. The hypocrisy will not be lost on Putin, or anyone else for that matter.”
Finally he ends his post by with some very important words from Eurasia Group President Ian Bremmer:
“Russian President Vladimir Putin is being pushed “further into a corner” by falling oil prices, leaving him little option but to continue his aggression toward Ukraine and confrontation with the West, Eurasia Group President Ian Bremmer told CNBC on Tuesday. Putin has “gone all-in on an anti-U.S., must-keep-Ukraine nationalist engagement,” Bremmer said on “Squawk Box .” He said it’s “completely inconceivable” for Putin to back down. “This is what is behind all his approval ratings. It’s behind who he now is as a leader,” Bremmer said, adding that capitulation would “erode a lot of his power.” Russia’s currency and economy are crumbling along with oil prices, the country’s main export and revenue source. On Monday, the ruble suffered its worst one-day decline since 1998, and it looks like Russia’s economy will tip into recession next year. As the ruble tumbles, what will Putin do next? “I think that lower oil prices simply squeeze him harder, pushes him further into a corner. He feels he has to fight as a consequence.”
Putin in a corner?
Russia has no outside debt. The Fed is in a corner and all are making deals to leave their control. The war rumble is to somehow keep control. Putin is a chess master. He knew it would come to this. China knew also. The Illuminati are now making commercials to convince us that they are the good guys, saving us. What does that tell you?????
The Elites are terrified of us.
Don’t agree that the elites are afraid of us! They are controlling what is happening (worldwide economic collapse). To think them stupid is to be…well, stupid!
Mr Williams has been singing the same song because he is telling the truth unvarnished.
The reason the markets and the world economy has not fallen as bad as John thinks it will is because of the organized crime element of the world economies, especially the west are able to manipulated and cover up the truth so effectively because and thru the assistance of the Main Street Media. Banksters, Central Planners, elites and Media = a very effective cabal. Rigged insanity!
Hearing people say this charade is gonna continue for 2-5 more years a lot lately. For anyone interested in the timing one only needs to look at johnathan cahns shemitah year information. I am 100% convinced he is correct in this and the way the information was divulged to him. For the Christians out there this is evidence of the hand of God at work here. His sovereignty trumps Satan’s plans and all things are allowed in his timing. So we have about 10 months before economic meltdown and most likely bigger plans in the works than just economic. That’s 10 months if we don’t see a major natural disaster, war, border crisis, ebola, etc. One thing is for sure, 2015 is going to be the year many of is have been waiting for. As johanthan cahn said in a recent video, “God doesn’t call us to be survivalists, but revivalists.” Make sure your house is in order as we eagerly await the return of the king.
This morning I heard a local radio reporter talking about a new “trending” topic; “foraging” for food… Yes I said foraging. He said people are looking for edible berries, nuts and other edible items on public property, in parks, and on other people’s private property… (He urged anyone wanting to do this to ask permission first tho…). Can you believe this??? The other topic he talked about was having a free mini vacation by walking somewhere familiar in the moonlight, and/or sleeping under the stars with no tent. Am I paranoid, or does all this make you think someone is prepping us to be homeless…???
It’s inevitable that the system will collapse with such force that the majority will be taken aback as they were in the 1930s great depression. Although this time the collapse will be blamed on an external enemy such as the likes of Russia, China, Iran, Syria, North Korea. They know the US dollar is becoming worthless fiat, and are moving to real money such as gold. But in the mainstream media the reality will be twisted and served up to us as propaganda such as “they’ve manipulated the markets” or “they’re abandoning the world financial system”. It will be labelled ‘their’ fault, not the fault of the US.
The majority of the US population will be aggrieved, especially when the economy collapses and the cost of living soars. The topical theme of ridiculing Putin and Russia will support the idea of exacting revenge on an ‘evil’ enemy. Unfortunately a this time of human existence, nukes are plentiful and hawks in the US government and military who think they could ‘win’ a first strike. We are living in fascinatingly dangerous times.
Either that, or the leaders of these belligerent countries are colluding together to make it look like there is impending war, so as to make us ‘small people’ all scared and work harder to distract ourselves from the fear. Anything is possible in this crazy world.
As an aside from the impending doom, I agree with the other comments about the poor audio & video quality. Send the man a lapel microphone! 🙂
Interesting movements in price of Gold of late (since 12/1/14).
Here is what I posted on 11/25/14 GM interview:
“WHY HASNT THERE BEEN A COUNTER PARTY DOING THE EXACT OPPOSITE ON THE BUY SIDE AT THE MOST INOPPORTUNE TIME FOR THE CABAL TO REACT”…with regard gaming the gold market.
Low and behold….I think we have it. Someone or some entity or SOVEREIGN is taking on the CABAL of Banksters and is WINNING.
I love the smell of burnt shorts in the morning !!! 😉
windcatcher; u said;
windcatcher 12/01/2014 •
You are such a coward Greg, to run away from debate by taking down my comment on your web site and on your YouTube site. That same comment, without correcting Mr. Kirby was widely received with affirmation on Zero-Hedge.
I can tell your site is more of a petting zoo more than it is informative and consists of shallow one or two line comments from your dim sheep followers.
Greg, you have lost all of my respect.
GO BREAKWIND SOMEWHERE ELSE, THANKYOU, SYONARA. AL OLS
ANOTHER RED FLAG!
Greg I wasn’t going to post anything the rest of the week, but I had something happen recently that I wanted to share with you and your readers. A few months ago I placed an order for my son, to a company that specializes in freeze dried meat for long term storage . I have used this company many times, and usually receive my order in 3-4 days. After waiting for over a month to receive my order, I called the company to find out where it was? I was told that the orders were backlogged for three months and maybe longer because of the ebola scare. When I suggested cancelling my order I was told that the price of meat was expected to go 30%, and that it would be in my best interest not to cancel my order.
Immediately a red flag went up. This is a very reputable company, so I don’t doubt that what I was told was the truth, even though I don’t buy the ebola story. But what I do doubt is the real reason. I smell government involvement. The last time I had this experience was when the government purchased several billion rounds of ammunition and tied up the munitions industry driving up the price of ammo. If my hunch is right, what has backlogged these orders is a huge government order that this company had to fill. The next question is why? I guess you’ll have to fill in the blank with this one.
I have my own theory. Is there anything the banking cabal doesn’t want to manipulate ?
I believe that the government is deliberately driving up the cost, (just like they did ammo) to discourage people from buying large quantities of food for storage. I have a close friend who works in the industry, and he has told me that there has been no spike in sales the past year or so. In other words, no new clients, just the same people ordering. The ebola scare got swept under the carpet by the MSM after it served its purpose, so I’m not buying that excuse.
I believe John Williams tells the truth. But one question he should be asked is why the vast majority of economists never question the government’s statistics–at least in the media.
The vast majority of Keynesian Economists are OWNED. In their own interests to keep the lies working in perpetuity.
Q: How many Economists understood and clearly disseminated their understanding of what was transpiring in the markets in 1997-1998 or for that matter 2001-2007. Very few !!…. Vested interests do not want the public at large to create mayhem. They must ensure that confidence in currency, governments, banks and markets is retained.
from ROB KIRBY NWO, FIFTH COLUMN, AND MORE.
JeffL, everything I say is facetious ( but not wrong ) and is kept simple. About ” KING” dollar or ” PETRO” dollar or whatever you want to call it. Though the fed or U.S. goverment is debaseing it left and right, the world better hope ” KING” dollar remains the reserve currency of the world instead of the yuan and the ruble. Why you ask? What I read from Articles from websites besides USAWATCHDOG ( sorry Greg) I ‘ve come to the conclusion that if the world would go to “KING” Yuan or “PETRO” Yuan, whoever ( those nations) that excepts yuan for their goods or most important, “RAW” natural resoures are going to get burnt in the end. To explain this in simple terms so many can understand it. ( JeffL.) Nixon close the gold window so that worthless countrys like France,( that got their U.S. Dollars in the form of AID.) Now days the U.S goverment gives out aid ( U.S dollars like candy) coming to the U.S. exchangeing from for gold. That is why Nixon closed the ” gold window” simplty put. “BUT” this is a big “BUT” the U.. did not keep worthless France useing their U.S dollars by going onto the open market and buying gold from anyone that wanted to sell it.. Then, president Ford left U.S citizens to own gold again legally. That example of France is why China or Russia “WILL” never go on a gold standard no matter what those ” EDUCATED” talking heads say. ( FAST FORWARD TO TODAY.) So today, U.S citizens can ( for about 40 years now) can spend their worthless U.S dollars and buy gold. if they want. China citizens ( for about 10 years now ) can spend their worthless yuan and buy gold if they want. Now, I’ll say this very S-L-O-W-L-Y ( JeffL) for all to understand this. The key is, the yuan will not be convertible to GOLD to any from China’s goverment. I hope, the B.R.I.C countrys dumb ass countrys like Japan ,Saudia Arabia figure this out. “THE SURPRISE AT THE END GAME, THEIR YAUN WILL NOT BE CONVERTIBLE FOR GOLD.” Now, I’ll say this S–L–O–W–L–E–R yet, to make this simple, let’s say Mr. Yang from China wants to buy China gold s coins or bars their mint or gold dealers. Mr. Yang problably could get from from the U.S Mint if he had the resources do to it. ( He’d have to convert his yuan into U.S dollars buying from the mint.) Now let’s talk about Mr. Williams, let’s I say go to China, and buy some China’s gold coins or bars,I’d have to exchange my U.S dollars for yuan dealing with the goverment or the dealers would maybe take U.S dollars. Now, who wants to bet Mr. Williams won’t get out of China with his gold coins ? You bet your sweet ass I won’t. Do you understand this ? I put it into a simple senario but can be applied to a grander scale. THE YUAN AND RUBLE WILL NOT BE A “TRUE’ RESERVE CURRENCY !!!!!!!!!!!!!!!!!!!!
Sorry Doug, everything you stated is not new or rocket science. I probably read 10 times other sites and info that you do ( I’m not married to Greg’s). My IQ is 135, I have a double major in economics/statistics, and have been a trader for 2 decades. I read everything for one reason only…… To know the truth…… Don’t play your sloooooow BS game on me or others here……… Maybe you can refresh my memory when I stated China or Russia were choosing to go on the gold standard. They have no intention or desire to go that route…….Your reply was nothing but an old history lesson I’ve known for 1/2 my life (when I woke up) and still doesn’t address the condition of king dollar………. Since you want to talk in simple terms, please tell us all how buying debt with more debt ends when you’re already bankrupt (morally and fiscally).
If your going to give us a history lesson of the Nixon era one should include the following dollar movement and the decades of continual loss of purchasing power…….. Might as well throw in the history of the last few empires that held world currency positions. In fact, let’s go all the way back to Rome’s reign. All of them fell from over spending (debt). Debasing their currencies to cover war expenditures. We are now passing the paton to the East as Britain did to us. And every other great empire did before them…….. It has always been a result of debt and I suspect as now, most then never saw it coming either. All the best Doug.
Remember the boy who cried wolf…
Yes many have called it right but likely called it too early. Man is usually foolish. Man does not want to hear about it until the night before. Guess what…… it is better to be 6 months early than six months late.
I am a happy camper that I clued into this story 2 years ago.
Yes some have stated to me that nothing has happened.
The truth is that it is happening all around them they are just too brainwashed to think for themselves.
Society is ill prepared to deal with what they are about to face.imho
Being that far ahead of the masses has allowed me to stack.
Tomorrow I expect to achieve the stacking goal I set for myself 2 years ago.
Judging by the recent developments I would say that time is short.
Another high profile Canadian Billionaire telling the truth about what is coming.
There is a huge number of dedicated people all over the world that are giving of themselves and their families in order to get an important series of facts and opinions told.
When you combine the names of the people contributing to this effort from all over the world there is a common thread here and it is the following in my opinion.
Someone needs to warn the populous of what governments and financial institutions have done that will threaten our opportunity to live happy peaceful lives.
No longer can we simply live and let live.
We now must take extreme measures not to fund retirement but to fund our survival in the not very distant future.
The amount of friction and resistance we face in trying to convince the people close to us of this need to prepare is making us look like doomsday preppers.
I resent what these people have done to us and I suspect that many will not be able to hide well enough in the future.
I for one am simply using my energies to prepare, I will leave it to those that have not heeded the warnings to deal with those responsible.
The arming of our local police that is occurring all over North America is only a sign of the preparation for what is coming.
God help us all.
How timely….. [ http://finance.yahoo.com/news/official-america-now-no-2-150936444.html ] ……….. As a reminder, this is using our lying stats to support our GDP#’s. Not that China doesn’t use bogus #’s but at this moment the world is factoring in positive economic #’s which as Williams states, are blatant, inexcusable lies. Without which we would show neg GDP. This coming from what the world used to believe was an honorable, respected country. One looked up to as a symbol of righteousness…………. I leave your imagination to what they think of us now. No wonder they’re all turning to China (50 nations and counting)…….. What does that say about our honor.
I would be more concerned with the Shadow Banking occurring in China than the fact that China may be seen as the world’s saviour. Mal-investment will lead to significant bankruptcies and failures of Banks. The PBOC can probably save their banking system but the economy wont be producing at anywhere near the expected 6-7% that is being forecast (hoped for) in the GDP. Investment will take a massive hit. Compounding this is the age dynamic in China. If the Western World faces a massive shift in demographic spending…then China is going to blow that out of the water with their dramatic increase in savings, owed to increased labour surpluses and more caution exerted from the spectre of an aging population requiring support in retirement in an environment which doesn’t provide a safety net.
A new monetary system doesn’t resolve the issue of poor investment, State Run Enterprises gorging off the population, the mammoth global debt nor does it resolve the dark shadow banking cloud.
Being a 70 year widow with step children and grand children, not knowing what exactly to do, am trying to figure out with what little amount of monies I have, if I should buy gold and silver for them. Most of the posts are way over my head. Have already bought the food that lasts for 25 years and paid off the bills……….now what?? Of course I know the Feds are in everything but I guess I’m just trying to get an edge before the collapse happens. Anyone have some plain and simple answers?
Nothing is “plain and simple” when it comes to defining the mess we are all in or what to do in your specific case.
To glimpse what may occur in the US and better part of the Western World that has appendages to the US, I would suggest trying to get your hands on a copy of a book titled :
“When Money Dies – The Nightmare of the Weimar Collapse” by Adam Fergusson.
That book I have recommended for a number of years now as the quintessential guide as to what will be experienced in the US in the not too distant future. There are many lessons in that book (which are quite stark) and which are more than obvious in terms of what will transpire and how people survived and even prospered during such a tumultuous time. Its not a difficult book to read…but in my estimation……priceless.
The process may initially be one of education….but that will then give you clear insight as to the necessary actions.
At 70, it would seem that your children are now grown and should no longer depend on you to provide for them materially. Because you have no debt and have stored some food, you have shown compassion, wisdom and understanding. Humbly share these which are far more valuable than gold or silver.
Also, if you are so inclined, the following bit of advise might be helpful to you in guiding and developing your future plans… with prayer and mediation:
“Commit thy works unto the Lord, and thy thoughts shall be established.”
Yes, I have answers which appear to be working for me. The most important move that I have made is to relocate away from population centers (metro areas). The USA government is past bankrupt, so food stamps and other people support activities will fade away. Think about that to predict the future.
Also, I doubt that there will be a 50 state contingent to the federal system in a couple of years down the road. Some individual states are economically strong and can better survive independently. Where your home is located will cause great effects for better or worse.
My home protection is not based upon a gun or other firearm. It’s pretty simple; there are a couple of hornet spray cans near the door. They’re easy to get and, I hope, will be as effective as many other home protection devices.
Oh yes, most of our wealth is overseas. It was easy to do before recent USA government rules. It’s probably difficult to get such an arrangement now. But hope springs eternal; the federal system probably will implode in a few years. However, we have the back-up of state governments, so we’ll probably be O.K.
My expectation is for some violent times, probably including a very serious war. However, when the war years pass, I expect that the 2020s will open a new periods of peace and prosperity.
Silence…… Agreed as nowhere will be safe to hide. I don’t remember anyone stating China will be our economic savior. But I always cringe when I hear that China is the new economic disaster waiting to happen……….. When I hear it I start questioning (as one should always do). There’s no doubt China has reached new levels of mal-investment exemplified by their ghost cities. But what would you say about a 800 sq ft block building going for $600,000 N Ca)? The trillions they hold in our debt is always proclaimed as neg. Would you rather be on the other side (US) and owe the debt ? Bank failures ? I could spend a week describing the REAL condition of our banks. Demographics ? We owe $100,000,000,000,000 (Trillions) to our aging populous. I also think given a SHTF scenario the average Asian with cope much better as they have stored their wealth in gold and don’t live under a food supply system that will implode in 3 days. Per capita, they aren’t in as much debt as we are. They aren’t waiting for their SS check for sure……….I could go on, you get the point.
Thanks for the response.
However I still struggle with the “No wonder they’re all turning to China (50 nations and counting)” part… and the preconception that they are less vulnerable or “UNSTAINED”. The “saviour” is implied by the actions of the 50 or so.
They are not perfect… is my point (and I think you get that)… and the misguided will be led down the garden path only to be butchered.
The Chinese (insiders) are buying up as many assets as they can (globally) because they know full well that their system (not just the western one) is fully ready to implode. Gold will be useful in the global positioning of a NWO.
Just like the US, I don’t see how China (The world’s # 1 Economy) gets out of the mess they face, either. As for survival beyond a SHTF event, and who fares best, I would agree they may be better prepared (financially) …..but it still remains a communist country (large disparity between wealth and poor) which is contradictory to the true communist agenda. Average Mr/Mrs Chan doesn’t get any priorities or special conditions or privileges. Internally, China is making a transition to a consumer based (as opposed to Investment based) economy. This is all at a time when the stars are not aligning for not just China….but globally.
Silence Agree that living under a communist rule will not be pleasant but at least the ones in rural China might fair better where farming is a way of life, not unlike our country during the great depression. Those here even in rural areas are too dependent on Walmart, ect. And who’s to say our fascist police state will not be worse than China’s communist regime ?……. The fact that the Chinese are buying here should be a hint. But is that for a better life or are they coming in preparation to the complete handover of our country ? I also agree all nations will feel the wrath of the dollar demise.
In the U.S., only ***6 percent*** of banks failed during the Great Depression, and only ***3 percent*** of deposits in the U.S. were in those failed banks. ( http://tinyurl.com/ke3y7n2 ) It was mostly small rural banks that were tied to agriculture that failed. Also, only *10%* of American households owned stocks in 1929. Most people had lots of savings back then, and if you were one of the 75% of Americans who didn’t lose your job, chances are…you _*benefited*_ from all this, as consumer prices fell by 25% as a result. A lot of people used their increased purchasing power to start their own businesses during that time. Take a look around, and you’ll see little signs in a lot of places that say, “Since 1932,” “Since 1933,” etc., displayed in front of businesses.
No wonder the big-lobbied government and mainstream media want to hype up the Great Depression and scare everyone — in order to rob the ordinary person of the benefits of deflation, and hyper-regulate the markets to kill off small competition. Politics & war: when in doubt, follow the money.
Don’t you guys get tired about asking the same question to the same guy again and again and then spewing out the same age-old answers? You ask why are they doing this, why are they manipulating. As if you heard it from this guy for the very first time and never wondered why before. LoL…
I am not saying you are wrong Greg, but you and your guests have already said everything they possibly could, and those who can understand english understood everything they said. The stock market is increasing, people feel the economy is doing better, period. Nothing is going to change until one of the two happens
1) USD reserve status is lost once and for all, decisively.
2) The Fed raises interest rate to historic normal and holds it there for a long time.
Until either of these happens, the status quo persists. Saying the same thing again and again will make no difference.
Greg, I was shocked to hear that you haven’t heard about QE4! Peter Schiff has been talking constantly about it for about 4 months now. In the last month others have said it, not sure who, maybe David Stockman…Maybe you should get Schiff as a guest.
Here’s one of the articles on how he believes another round of QE is coming: http://www.gramsgold.com/news/peter-schiff-says-the-economy-will-experience-economic-convulsions-next-month
Williams says US Dollar to collapse. But ask him how? My gooodness that IS the big question.
The dollar is in a basket of 6 currencies (Euro is 57%; Yen 13%, Pound 12%, Cdn 9%….)the main weights being the Euro and Yen…they go down Dollar goes up. Not too difficult.
So how does the dollar go down when puppet Japan and puppet Europe lower their currencies?…so how can USD go down when these clowns depreciate against the dollar?
This IS the only question worth asking, and…?