Strong Dollar is Black Swan-Rick Ackerman
By Greg Hunter’s USAWatchdog.com
Trader/analyst Rick Ackerman says forget about the demise of the U.S. dollar anytime soon, Ackerman contends, “I have been totally bullish on the dollar for years, and it looks like clear sailing to me. The dollar is certainly responding to what I would call economic fundamentals, even though bonds have been on this odd holding pattern for a while based on a wishy-washy Fed. I see nothing but a strong dollar because if you look at the global derivative market, it implies a dollar long and a dollar short position. . . . The side that has to pay back in dollars is effectively short it. So, we have this monstrous derivatives market, and some experts put it at a quadrillion and a half dollars, and it represents a huge short position on the dollar, and the squeeze is starting to happen now.”
So, will there be a point when the dollar will be knocked down in value? Ackerman says, “The Fed can monkey around with the little stuff, but when you talk about a quadrillion dollar market ($1,000 trillion), it’s much bigger than all of the central banks put together. It’s a real humpty dumpty situation, and all the king’s men couldn’t begin to address strength in the dollar. It’s just going to happen.”
Ackerman says, “The strong dollar is the black swan.” Ackerman explains, “It’s the one thing that can’t be controlled, and it’s there in front of our faces, and you can see why foreign investors want to put their money in dollar denominated assets. . . .When you take a couple of steps back, you can see the extent of mal investment in this world. The only European country that is paying higher interest than the U.S. is Greece. You go to Spain and Portugal, and they are borrowing for practically nothing. When you consider the risk there, you have to conclude investors have lost their minds. Money has been so easy for so long that we neglect to consider there is not reward for putting your money out there for 10 years in some European bond.”
Is the Fed ever going to raise interest rates? Ackerman contends, “Multinationals got hurt pretty bad on their earnings in the fourth quarter; and yet, all throughout the first quarter, the Fed was talking about tightening. It’s bull, they’re not going to tighten. I keep putting it out there. When will the Fed tighten? The answer is never. I know, realistically, there will be some tightening, but it will be done by the market and not by the Fed. . . . They can’t possibly tighten with the strong dollar.”
So, what could put an end to the party that has been going on since the last crash? Ackerman says, “The obvious thing is the stock market itself. We could talk for hours about all the problems out there that could cause a global financial catastrophe. There are 50 things that are spring loaded that are ready to destroy the financial economy. U.S. stocks, in particular, are at near all-time highs, and we say how bad can things be if the Dow is trading at 18,000? The stock market is an absolute buttress to the psychology of investors. If the stock market were to fall, it would undermine the illusion that we have had for so long that we will somehow muddle through.
On massive market manipulations propping up the markets, Ackerman says, “You slowly get desensitized to what is really going on. You think this is normal, but it is really very abnormal.”
Join Greg Hunter as he goes One-on-One with financial forecaster Rick Ackerman.
(There is much more in the video interview.)
After the Interview:
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
The end game will occur when the selling is done. For instance, foreign companies can buy US businesses, farm ground, etc at cheap interest rates. The US constitutes about 2.27 billion total acres, of which the FEDs own about 640 million of those acres mostly in the West.
The 5T t-bill puts the fed ground of around 640 million acres at about $8,000 an acre. Interesting is that farm ground is about $8,000 an acre on average. The US is being sold. When the owners cannot get paid, then they will collect their collateral. The collateral is US assets.
End Of Game….
ugly
http://www.silverdoctors.com/martin-armstrong-major-reset-coming-gold-bullion-to-max-out-at-5000-per-ounce/
“Gold rises when people lose confidence in government. It has nothing to do with inflation. So, when you start to worry about government is not going to survive or who’s going to win, that’s when gold rises. Short term, we still have the risk of it going under $1,000 per ounce. It’s going to flip when everything is right. It will probably max out at $5,000 per ounce. . . . You are really talking about a major reset coming…”
Submitted by Mark O’Byrne, Goldcore:
Allen,
This guy redid my interview. NOT Original.
Greg
another dollar supporter and lower gold price….that’s 2 in a row…wow..
what they seem to not mention is the Manipulation.. or don’t want to acknowledge it even though the Elite admit gold manipulation, stock manipulation etc…the whole system is rigged and when they are ready to bring it down they will but they will also have a back up replacement system which will be backed by some form of gold, silver…
greg;
But is this part correct;
“Gold rises when people lose confidence in government. It has nothing to do with inflation. So, when you start to worry about government is not going to survive or who’s going to win, that’s when gold rises. Short term, we still have the risk of it going under $1,000 per ounce. It’s going to flip when everything is right. It will probably max out at $5,000 per ounce. . . . You are really talking about a major reset coming…”
History of Central Banks and why we must End the Federal Reserve
Part 1 (48 B.C. – 1791)
Part 2 (1791- 1865)
Part 3 (1865- 1913)
“The Federal Reserve is now a government within a government. It is totally out of control. Congress doesn’t control it. It’s funded by the banks and we either have constitutional government or we don’t.”
– Ralph Nader on CNN
“The Future Monetary System — No More National Debt”.
According to Bill Still, the global monetary system has been revised every 30 – 40 years through history.
He predicts that our current monetary system will collapse within a few years.
Bill’s lecture is a potential model for the monetary system of the future.
Bill Still at the Open Mind Conference 2012. Skanderborg, Denmark
https://www.youtube.com/watch?v=BXEioXVdB24&feature=youtu.be
The Secret of Oz
https://www.youtube.com/watch?v=jjUtBGqLAxY
The Money Masters
https://www.youtube.com/watch?v=iDtBSiI13fE
Our history clearly shows we have done this before, so it’s not radical, it honors our past.
Is that legal?
AlOls…
This is my take. The American won’t see high gold prices and be able to cash in. Why? Because if the dollar collapses then what will the payment be? If dollars, then might as well have Robert E Lees.
I think what we are seeing is the beginnings of a new currency and a new boss. The new boss will usher in his currency and take over American assets for collateral on debt paid for the reset. . Poverty overnight because gold and silver will buy some food but not much because the new boss will make Americans cash in using useless dollars.
ugly;
there will have to be another reserve currency take the place of the dollar, most likely the “RED BACK”, or a small basket of currencies backed by gold, OR a one world currency, but all must be backed by gold.
whomever has the most gold makes the rules……..and check this;http://www.twincities.com/business/ci_27961171/targets-not-so-graceful-exit
Target’s exodus from Canada has left gaping holes at some of the most prominent shopping centers across the country, the biggest symbol of an exceptional period of retailing turmoil.
As Target Canada closed the last of its 133 stores this month — completing the Minneapolis-based parent company’s hasty retreat from its first international expansion, a move that prompted a $4.5 billion write-down — many landlords were left holding properties whose fates are uncertain. They, along with many other creditors, argue that Target is abusing Canadian law at their expense as it leaves the country after less than two years.
“There’s anger among the landlords,” said Darren Kwiatkowski, executive vice president of Shape Properties in Vancouver, British Columbia, which owns two malls where Target was a tenant. “There were high expectations from landlords and consumers when they came, but the result was only a B effort. Now they’re pushing the boundaries of the legal system for their company’s self-interest.”
Many shopping centers have experienced similar departures. Sony closed its 14 Canadian retail stores and ailing Sears Canada has gradually sold its most valuable leases. One Saturday morning in March, Best Buy suddenly shut all 131 stores it operated under the Future Shop brand, although 65 will reopen under its name. And Staples has closed 15 Canadian stores.
Ugly.
High frequency trading has given the banking cabal the overwhelming desire for digital currency. Translation – total control.
Digital is not fungible….Jim Willie says currency must be fungible. If we won’t use it, it can’t last.
The new boss will be the IMF, and the new currency will be their SDR’s. Can’t you just hear the reasoning…? “After the horrific crash precipitated by the Dollar, which not only negatively affected the US, but the whole world as well, we must ensure that this will never happen again. Therefore, we must only use a basket of the strongest currencies and thus can interchange currencies on an as needed basis to keep the SDR appropriately balanced.” Can’t you just see the bribes going on if that would happen? The nations of the world vying for being included in the basket!!
I’m not so sure that the IMF’s SDR is the solution…..or is capable of resolving the current problems associated with FIAT.
After all….Its construct is still a basket of FIAT CRAP.
Lets move on with another option….shall we !!
That’s when we starve and the Bilderbergers eat high on the hog!
New Living Translation
And I heard a voice from among the four living beings say, “A loaf of wheat bread or three loaves of barley will cost a day’s pay. And don’t waste the olive oil and wine.”
◄ Revelation 6:6 ► IN OTHER WORDS, WILL BE STARVING AND THEYLL BE WORRIED ABOUT THEIR DELACASIES!
Matthew 24:7
Nation will rise against nation, and kingdom against kingdom. There will be famines and earthquakes in various places. BETTER PUT ON A FEW POUNDS AND THINK OF IT AS YOUR, “BUG OUT,” BODY!
Slavewillbe,
Sounds like the Bible is predicting hyperinflation!!
One thing we can rely upon is the bible will never be found WRONG.
So with predicted high prices coming at some point in time, it would now be prudent to stockpile the pantry.
God Bless.
aussie Jeff;
check this; http://thevictoryreport.org/new-video-marines-prep-for-riot-control-in-america/
Interesting point of view, Ugly — one I hadn’t heard before.
Thanks. Good interview too. Thanks for your help and perspectives.
I disagree … a “weak dollar” may be the “black swan” … as of March 2015 … Chase began restricting the use of cash in selected markets (they started in greater Cleveland) … Chase Bank (really the Fed’s) new policy abolishes cash (the US dollar) as being “legal tender” anymore … by saying cash can not be used to make payments on credit cards, mortgages, equity lines, auto loans, etc. … isn’t it up to Congress (the representatives of the people) to determine what constitutes “legal tender”?
Now all of a sudden the Fed (through Chase) is giving orders to the American people that their US dollar in cash is “no longer legal tender” for use in paying our debts and/or taxes?? … if this is now the state of things Harry Dent was grossly “underestimating” when he said 100 trillion dollars could be made to disappear … seems Chase and the Fed are now in the process of making three(3) quadrillion dollars disappear … “abracadabra” by simply making our cash “illegal tender” for paying ones bills … of course the multinationals would just love to see the dollar fall … as all US cash currency would effectively become like Confederate dollars (worthless to pay debts or taxes) … however Harry Dent, Ackerman, etc. telling us to “hold” this cash (now beginning to made illegal tender) under our mattress seems way “out of sync” with what the Fed seems to have planned for our currency and is now implementing!
What are the implications for precious metals? Well if dollar cash can’t be used to pay our debts, taxes or food anymore … I can only conclude the bankers won’t allow cash to be used to buy gold and silver either … with buying demand “thus constrained” Harry Dent’s forecast of $250 dollar gold or Rick Ackerman’s $810 gold prediction may come to pass … but only “nominally” as a phony printed number in the Wall Street Journal (because dollar cash will now “no longer be legal tender”) … however in “real purchasing power” terms … gold and silver coin values will go through the roof! … this Fed lunacy making cash worthless … is all somewhat similar to futures traders “who don’t own gold” selling gold futures contracts to other futures traders “who don’t want to take gold delivery” and by this means they determine the “real price of gold” … it’s all just phony numbers without meaning!
The “real price of gold” will not be the $250 dollars or $810 dollars listed in the Wall Street Journal when US dollar cash becomes “illegal tender” … precious metals “will be priced by the things you can barter for them” … like say 7 one ounce gold coins for a new house … or 7 one ounce silver coins for a new car … notice how I used the number seven(7) … Dent and Ackerman probably won’t but I’m almost certain Christine Lagarde would just love my 7 coin prediction!
Do you don’t think the powers that be will just stand around and do nothing … and allow the whole global derivatives market to implode?
As Ackerman says “the global derivatives market is basically a dollar long and a dollar short position and the side that has to pay back in dollars is effectively short it” … so we have this monstrous derivatives market of one, two or three quadrillion dollars … and it represents “a huge short position” on the US dollar by the banks … do you think these banks shorted the US dollar without having a plan to devalue it? … did they short gold without having a plan on how to devalue it?… I assume they have a plan … and by making US dollar cash “illegal tender” looks to me to be the first shot fired by the Fed across the bow of the US currency to not only help themselves to big derivative profits but to garner support for their actions (against the people) by the big multi-national corporations!
Why do you think Ron Paul wanted to End the Fed? … could it be because the US Treasury gives “legal tender” Treasury Notes to the Fed and the Fed then prints up and gives them back “illegal tender” paper dollar Federal Reserve Notes in return?
This quadrillion dollar scam of the century is being played out in full view of the government and the people by the Fed and yet no one says a word about it?
Like a word is not spoken by the MSM about all the multinational corporate scams inflicted on us!
How many “blue pills” have been handed out by the big multinational pharmaceutical companies? … How much aluminium and barium has been dropped on Americans “to breathe in” by these big multinationals? … How much fluoride put in our water “for us to drink”? … How much genetically engineered food “for us to eat”? … How much radiation from Fukushima “already put in our bodies”?
Dumb us down and give us cancer? … so we will more easily accept all their scams without saying a word?
Not exactly accurate on the Chase situation. They allow cash payments to the account if it’s the cash payer’s account, e.g. you can pay your mortgage w/cash, but you can’t deposit cash into your daughter’s account. Stupid, but true.
http://www.cleveland.com/business/index.ssf/2014/02/chase_bank_stops_accepting_cas.html
http://www.cleveland.com/business/index.ssf/2015/01/chase_to_restrict_cash_payment.html
Thanks Jon … but this “cash policy” by Chase violates the legal tender laws … there should be absolutely “no restrictions” regarding cash deposits by people … even if they are not listed on an account … because cash is like a “bearer bond” … if cash is truly legal tender and should be treated as such … this Chase (Fed) policy looks to me like subterfuge to undermine and destroy the “legal tender status of cash” … will they next require we write our social security number on the dollar bill?
For the elites to effect a cashless society (wherein EVERY transaction can be monitored), there would have to be sequence of events for general compliance and acceptance. Think of a major false flag catastrophe to give rise to martial law, and a general lock down of commerce. The populace will be uber compliant when it comes down to access to food and water. The USA will be the test case; if it can happen in the “land of the free” (sarc), then it can happen anywhere on the globe.
@Paul : This was predicted over 3 years ago by Precious Metal Pete and now others seem to be picking up on what he said. He said the spot price of derivative paper gold would burn down to its true worth. If you own paper gold in any form you will get the paper spot price of gold. The real physical market will spike rapidly after this paper gold meltdown to new highs and keep climbing. Until that happens expect gold to keep dropping, after all it’s a 60:1 to 100:1 paper-to-physical market. Even if physical gold was at $10,000 oz that means the current derivative paper value is around $100 – $150 oz. So it’s pretty clear that gold will head lower, a lot lower until this paper to physical price separation occurs.
paul – Totally agree.
It’s all in the name of control. Along with JP Morgan Chase prohibiting cash, your access to your safety deposit box cannot be gained by signature no longer. You now must have two pieces of picture ID along with a four digit PIN to gain access. More control.
Also prohibited from safety deposit box storage are coins, accept those coins that which are FOUND to have a collectible value. So who “finds” this value? Sounds like you must submit these coins for valuation to the bank! More control.
Get ready to have a bar code tattooed on your forearm (visions of NAZISM) or a micro chip inserted under your skin, as we do now with pets! And if you don’t have your control ‘mechanism’ then you will be considered a “subversive” by TPTB.
There’s a ready made segment of the population that are “volunteers” to receive their “control mechanism” in the free shit army out there. Want food and shelter? Step right up and receive your chip. Won’t hurt a bit, just a little sting. Now get back in line dirt bag! Control is the name of the game. Only this control has already become deadly.
Out
I was doing reading on FDIC bank takeovers and was surprised to read that they opened safety deposit boxes. I thought that this couldn’t be done but I have read several accounts of this being done. So anyone thinking that having a safety deposit box is a good idea and a secure idea…think again. This is a stupid idea. Buy a good safe, keep it at home and most important, don’t ever tell anyone
Keep only paper in that safe and true valuables elsewhere.
Gardening is good for you.
OutLookingIn … Everyone thinks the paper dollars in their wallet is “money” … yet a paper dollar today is not what a paper dollar will be tomorrow … especially with Chase Bank now putting new restrictions on its use as money … we know that when other currencies are inflated … the dollar will offer price gains against these other currencies … but what happens when the dollar also inflates and joins the other world currencies in debauching its value? … bullion rises!
But the MSM “brainwashes the public” into believing that an interest rate rise in the US “strengthens the paper dollar” … but the dollar is only “a piece of paper” it does not grow in value as interest rates rise … in fact if paper dollar bills in circulation “were bond like” with an interest rate attached they would “fall in value” with an interest rate rise … however the MSM tells people paper dollar money “that does not pay interest” rises in value when interest rates go up … and then in the same breath the MSM says the same is not true for gold money “because it does not pay interest”?
Think about this … if interest rates rise … doesn’t this mean the intrinsic value of paper dollar money “is being debased” and therefore requires more interest to be paid for holding on to it (in order to make up for the debasement) … now gold money (just like the paper dollar) has no intrinsic yield … but it does have a very unique property that makes it hard to be debased (the way the paper dollar can) its rarity … therefore when interest rates rise the intrinsic rarity of gold remains … and in terms of more worthless paper dollars it is worth much more of them … so things are completely the opposite of what the MSM would have you believe … gold money “does go up in terms of paper dollars” when interest rates rise (and the Fed is getting ready to push rates higher)!
So what money do you think is preferable to own when interest rates rise? … An intrinsically less valuable paper dollar? … Or an intrinsically “stable form of money” that is worth more paper dollars?
Real money throughout history was always defined as being something that “retains its value over time” … so that the work you perform in earning it … “remains” to be used at a future date at its “equivalent worth” … therefore all the paper dollars in our wallets “do not qualify” as being real money … and as the words of J.P. Morgan clearly stated … “money is gold … and nothing else.” QED!
Hey, Rick says the dollar is the place to be, so first and foremost, sell ALL of your gold and silver for dollars ( since gold and silver are going to go straight into the tank) then deposit all of your dollars in Shittybank and watch them go “up” against the other flavors of fiat toliet paper, then you can wait for the bail-in , but at least you can say that your dollars were “strong” before they were confiscated in the name of “the people”….
FROM ZERO HEDGE:
The war on cash is escalating. Just a week ago, the infamous Willem Buiter, along with Ken Rogoff, voiced their support for a restriction (or ban altogether) on the use of cash (something that was already been implemented in Louisiana in 2011 for used goods). Today, as Mises’ Jo Salerno reports, the war has acquired a powerful new ally in Chase, the largest bank in the U.S., which has enacted a policy restricting the use of cash in selected markets; bans cash payments for credit cards, mortgages, and auto loans; and disallows the storage of “any cash or coins” in safe deposit boxes.
Buiter defended his “controversial” call for a ban on cash, as Bloomberg reports:
“The world’s central banks have a problem. When economic conditions worsen, they react by reducing interest rates in order to stimulate the economy. But, as has happened across the world in recent years, there comes a point where those central banks run out of room to cut — they can bring interest rates to zero, but reducing them further below that is fraught with problems, the biggest of which is cash in the economy.
In a new piece, Citi’s Willem Buiter looks at this problem, which is known as the effective lower bound (ELB) on nominal interest rates. Fundamentally, the ELB problem comes down to cash. According to Buiter, the ELB only exists at all due to the existence of cash, which is a bearer instrument that pays zero nominal rates. Why have your money on deposit at a negative rate that reduces your wealth when you can have it in cash and suffer no reduction? Cash therefore gives people an easy and effective way of avoiding negative nominal rates. Buiter’s note suggests three ways to address this problem:
Abolish currency.
Tax currency.
Remove the fixed exchange rate between currency and central bank reserves/deposits.
Yes, Buiter’s solution to cash’s ability to allow people to avoid negative deposit rates is to abolish cash altogether. (Note that he’s far from being the first to float this idea. Ken Rogoff has given his endorsement to the idea as well, as have others.)
Before looking at the practicalities of abolishing currency, we should first look at whether it could ever be necessary. Due to the costs of holding large amounts of cash, Buiter puts the actual nominal rate at which the move to cash makes sense as closer to -100bp. So, in order for a cash abolition to become necessary, central banks would need to be in a position where they wished to set nominal rates much lower than that.
Buiter does not have to go far to find an example of where a central bank may have wanted to set interest rates much lower to -100bp. He uses (a fairly aggressive) Taylor Rule to show that Federal Reserve rates should have been as low as -6 percent during the financial crisis.”
As mentioned above, no meddling by a central bank is ever too extreme or too crazy for Mr. Buiter.
But now the banks themselves are getting involved, (as Mises’ Joseph Salerno notes),
The war against cash has, up to now, been waged almost exclusively by national governments and official international organizations, although there are exceptions. Now the war has acquired a powerful new ally in Chase, the largest bank in the U.S. and a subsidiary of JP Morgan Chase and Co., according to Forbes, the world’s third largest public company.
Of course , it is hardly surprising that a crony capitalist fractional-reserve bank, which received $25 billion in bailout loans from the U.S. Treasury, should want to curry favor with its regulators and political masters and, in the process, ensure its own stability by helping to stamp out the use of cash. For the very existence of cash places the power over fractional-reserve banks squarely in the hands of their depositors who may withdraw their cash in any amount and at any time, bringing even the mightiest bank to its knees literally overnight (e.g., Washington Mutual).
What is a surprise is how little notice the rollout of Chase’s new policy has received.
As of March, Chase began restricting the use of cash in selected markets, including Greater Cleveland.
The new policy restricts borrowers from using cash to make payments on credit cards, mortgages, equity lines, and auto loans.
Chase even goes as far as to prohibit the storage of cash in its safe deposit boxes . In a letter to its customers dated April 1, 2015 pertaining to its “Updated Safe Deposit Box Lease Agreement,” one of the highlighted items reads: “You agree not to store any cash or coins other than those found to have a collectible value.” Whether or not this pertains to gold and silver coins with no numismatic value is not explained.
As one observer commented:
This policy is unusual but, since Chase is the nation’s largest bank, I wouldn’t be surprised if we start seeing more of this in this era of sensitivity about funding terrorists and other illegal causes.
Bet on it.
As we previously concluded,
We keep being bombarded by moves to restrict the use of cash and demands to ban it altogether. These demands seem to mainly revolve around two arguments:
one is that “only criminals need cash”, which is on a par with the absurd assertion that we should all be fine with Stasi-like ubiquitous government surveillance “if we have nothing to hide”.
The other one is that a cash ban would make life easier for the central planners who are actively undermining the economy with their policy of debasement.
We would argue that central banking and fiat money have done more than enough harm already and that the eradication of financial privacy has gone way too far. Money and banking should be freed from the clutches of government-directed monopolization and cartelization and should be returned to the free market.
* * *
In short, things in the already insane monetary realm are about to get a whole lot insane-er. But don’t worry, the central banks are in full control.
Jack,
Thank you for this comment and story, but next time, please cut it down and post a link.
Greg
ok
Those chips cause cancer at the site in pets!
Cash is irrelevant, as is the concept of legal tender. (See C.V. Myers “The Coming Deflation,” Chapter 20, where he describes his attempts to exchange a $10 Federal Reserve Note for “lawful money”.) The entire global shell game is played in dollars, and there is no moving it to another currency or store of value. Meanwhile, Gold will never be money because it would require an honest game. If we had to pay for oil with gold, the world’s machinery would come to a halt. Much easier to pay for it, and everything else, with dollars that are in nearly infinite supply.
Rick Ackerman;
Why is China/Russia buying massive tonnage of gold; see Russia bought another 3000 tonnes a couple of days ago.
Jim Willie says: “the SGE will re-peg the gold at equivalent 18k dollars/oz using a basket of currencies or SDR’s, and require all nations to present gold to back their currency.”
Note, AIIB–SGE–CRA–NDB–CIPS–UNIONPAY all Chinese organizations meant to rival the us dollar, because of the criminality of our banking system.
Jim Sinclair says gold to soar to 50 k /oz.
So what if gold soars to 50 k/oz or 100k/oz for trade settlement.
Gold has always been money w/no counterparty risk.
I’ve answered this above. Bottom line, the world can’t afford to pay for things with gold, the hardest money of all. As to why Russia, China et al. are accumulating gold, can you blame them? You have to admire the Chinese for taking the long view. Recognizing their economy will reign supreme when the world emerges from the Second Great Depression, they are taking steps now to prepare. They aren’t looking to build a global money system on a gold standard; rather, they are simply storing gold so that their own currency will have backing — the same backing the U.S. dollar had when America was for real. Nor does China envision becoming a financial superpower, which is fraudulent power that comes from printing press money. Economic superpower is surely what they have in mind, and achieving that status will take care of all their other aspirations.
“the world can’t afford to pay for things with gold, the hardest money of all”…..its true that Gold has limitations when logic is applied in that context of what defines money. What is required is more “Outside the Box” thinking. Creativity …..the essence of every Bankster that ever lived.
The BRICS, ME and what’s left of the Western Cabal…will resolve this issue in time. Be assured that Gold will play a critical part of that system.
If all you stated happens to pan out, what is your opinion regarding those as myself who stack the physical, totally eschewing any paper Au/Ag?
Also, do you believe the USA has any gold remaining under true American ownership? I think it’s likely gone or very little remains today.
Let me qualify that I am in your camp (and Harry’s) regarding deflation. That will ultimately be THE means where the reset can happen. Even if another War comes about, it won’t negate what must happen.
….also…. the last 5 reserve currencies lasted approx 75-90 yrs starting with Portugal in 1400’s-Nederlands, then Spain, then Britain, than USA. So what keeps the YUAN from becoming a reserve currency/backed by gold.
Why should the Chinese want a global yuan reserve? They have enough confidence in themselves to disdain seignorage.
rick A.
It is called power, greed, and china wants it as bad as Russia, and Britain, and USA dont want to let it go. The ponzi scheme is over/dying/exposed, except 90% of Americans, are clueless/sheeple, and 90% of Europeans are enlightened.
ALL fed govmnt bonds, state bonds/wall st. etc are propped up by QE-I.
Good point. They can fund themselves. We need investors to keep the dollar going.
“Gold is not money”? Really?
Of course gold “is” money! But whether it BECOMES money is another matter. Whatever happens, it is entirely predictable that Gresham’s Law will keep it from circulating.
Bill … Rick doesn’t believe the unique insider J.P. Morgan who clearly stated … “money is gold … and nothing else” … because he feels using gold as money is simply incompatible in a rigged and fraudulent economic system where banks engage in “fractional lending” practices … lending out ten times what they take in (which is inflation of the money supply) should make the dollar weaker over time as these loans are paid off … now they claim there is a lack of money supply because their loans are defaulting having not matured yet (creating a liquidity squeeze) … to compensate for this liquidity squeeze the Fed prints up even more money (QE) … so in summary … first they print up 10 times more dollars (when they first lend it out) … then they print up “even more dollars” to cover the loans that can’t be repaid … then just because they can’t print the dollars fast enough … they claim there is a” liquidity squeeze” and deflation of the money supply and therefore we should sell our gold because it will go down as the dollar is getting stronger?
A deflation of the money supply??? … come on … when the banks created 10 times “more dollars” lending it out in the first place … and “more QE dollars” covering all the loans that default? … one simply has to look at a chart of the money supply to see we are swimming in an exponentially increasing supply of dollars … what liquidity squeeze?
They make the claim that these exponentially increasing dollars are actually getting stronger??? … what planet in the universe do these people live on? How does “printing too much money” make that money more valuable?
A few people on planet Earth … who take a minute to think … will not save “paper dollars” in their shoe boxes … but will save “real money” bullion!
Good call on the US dollar, but the Banksters have backed the EM’s into default mode now.
The world is not the USA. Each day the Comex in the USA sells no real gold just Bankster paper gold -gambler contracts. There is no recovery in the USA.
Banksters have screwed the world and the world is “hip” Rick. USA? 90 million sit, 50 million on food stamps and the prisons bursting.
Russia and China and India et al are ready to exit the US war financing ponzi. The world is ‘hip’.
Comex works for China and gives them a discounted manipulated Gold price.
I am surprised the dollar hasn’t crashed already. The new AII Bank setting up should have sent it down the toilet. No one is buying bonds so the Fed has to print money to buy them thus inflating the dollar.
Then there is the gold to silver ratio. According to the COT Report the ratio should be 22:1 not 74:1
World events are becoming totally surreal . There is no magic here, just a lot of sleight of hand and conjuring. When cold hard reality brings us all down to earth again , it will become a veritable nightmare , believe me.
Spot on Alex,
The scary part is nearly all of humanity are blind to what is fast approaching.
Now is the time to get right with God,as i fear in due course it will only be with His help that we will be able to come through this tribulation which is going to rock this world to it’s core.
I concur!!
I believe!
Rick Ackerman is a bit more credible than Harry Dentures. I bet Harry has secret gold fillings closing the gaps in his portfolios .
When the derivatives unwind with this monumental debt, Govt Bonds and treasuries will have no value. Govts and their banker masters will gouge pension funds both private and public to shore up their bottom line. They will steal from us like rabid dogs.
We have Citi Bank calling for the cash to be outlawed and the banks have legalised “Bail in” ie bank deposit theft. In Australia banks are offering “secure” Bank Bonds to pension funds and everyone believes the BS.
Where will be the safest place to put your money when the proverbial hits the fan?
Greg,
I believe it was Jim Sinclair who was among one of the few voices that warned us to “Get out of the system”. Well my friend is now wishing he had heeded this advice, as he recently got a letter from one of the “Too Big To Fail” banks. In it they restated there will be limits on the amount of cash he can withdraw-and furthermore issued new rules as to what he can put in his safety deposit box and how he will be able to access it in the future. No cash or PM’s can now be placed in a safety deposit box unless they are collectable coins. He will need two forms of identification in order to be given a PIN to enter his safety deposit box– as a signature will no longer be used. He also mentioned that anything over 5k that he pulled from his safety deposit box would in the future be reported. It certainly sounds as if banks are doing everything they can to hold on to “their” money. Can “bail-ins” soon to be coming to a bank near you?
A quadrillion here, a quadrillion there, pretty soon you’re talking real money.
Hitler’s favorite beer was a billion Weirmarks
Greg I love your show, you get many guests on with various educated opinions, and you ask them blunt questions for them to answer. My only frustration is since everything appears manipulated, its vary hard for the average investor to make any fundamental investment decision when many of these guys admit there is something wrong out there but all have their own logical varying opinion on what to do and opposite sometimes of the other speakers. Frustrating on what direction to take. Thanks for your site.
Paul … I can understand your frustration … if the powers that be do manage to manipulate gold down even more … I’ll tell you what I will be doing … buying more physical bullion!
Listen to captain Hunter and don’t go down with the ship! Everything’s on sale! Buy those tires and oil, stack what you can and will need, food, water, coins etc. . . Paper anything will be useless except for reading and writing and the toilet and of course fear not!
There is much more & plenty to come; stay close to USAWatchdog, the life you save may be your own!
Nice work Greg, we need all these different opinions…
Personally i believe that after the crash they will introduce a digital currency. Accessable only with a ID tag. Gold and silver will be expelled to the black market.
Try long-term Treasuries and muni strips. I am extremely bullish on long-term bonds, but I see CBOT’s June T-Bond contract correcting down to 158.^14 (currently 161^18) before the bull market resumes.
Thank you Rick for coming on to answer questions!!! We love it, and this makes you a stand-up guy!!
Greg
As a christian i will refuse a ID tag. So official paper is useless for me. Better to have a food supply, physical money and a prepared mentallity. As Yeshua said : Follow my cross meaning to defy the slayers and moneychangers.
No chips for me.
I’ll be in Mexico, if nothing else. Doesn’t seem like it’s going their way. For one thing, look at the level of education now on all the alternative sites….people are getting it. When the first big bail-in happens, that’s when the US people will really sit up and react. When their own money is gone. All these new patrol cars we see? They’re because the US govt. helped GM out by buying in bulk. But can the local govts afford them when it crashes further? If people were really in the old mind set, McDonalds wouldn’t be down almost 5%….and Walmart trying to deal with strikes. Bring it on, we little people can live on. Where can the banksters go? Everyone will know who they are by their wealth…..the rest of the world won’t shelter them.
I hear ya Matties!!
This is all turning into degenerate gambling now. That’s what happens when you trash the value of a currency and there is no yield anywhere without extreme risk.
People keep their money….that’s what happens. Only an idiot risks capital for no return
G500.
Great statement truer words were never spoken!
Why would crypto currency exclude PMs? Now, the crypto is back by dollars, euros and dozens of other failing currencies. But if you had a crypto currency backed by gold or silver it would be the obvious choice.
Really, the biggest value in cryptos is the technology. It is quite conceivable that a place like the SGE will soon offer debit-like cards (with crypto access as well) that reflect the amount of metal one has in his account. It could then be counted in any local currency or in the weight of the gold itself.
This cashless society idea is interesting to ponder the unintended consequences. I would think it may very well result in an increase in underground and barter economy. Goods would be directly exchanged for services and other goods. The digits in the accounts would be used to hoard and stock pile real goods. The perception of money would lose the medium of exchange concept because there would be no percieved substance to it.
The global financial system is run like a carnival midway. This is no exaggeration.
So do you think that the USDollar will be replaced, or phased out? If so, in your expertise and opinion, what would replace the dollar in the very near future? Or will it continue for awhile longer?
Like many others, I think the dollar will be hyperinflated into oblivion. Where I differ is that I expect this to occur AFTER deflation has run its course, and ruinously so. As to what will replace the dollar, who can say? Gold is possible if the catharsis has been painful enough, but I am implying the kind of pain that would correspond to a world that looks like McCarthy’s “The Road”. A gold standard dictates honest business. Can we ever return to that?
I agree on the hyperinflation point (after Deflation has done the damage).
Our future is in the hands of a select group of people who have the power to make life on Earth a living hell….there are also those who can change the course of history. This can be avoided….and I strongly believe it will be.
As far as gold is concerned it is not a matter of whether we “Can”…moreover it is a matter of “Must” …borne out of necessity. There is nothing that can provide the brake to a runaway debt induced orgy….like Gold can. It forces the mantra of living within ones means.
Of course politics (the corporatists / bankers) will attempt to get in the way…as will the Military Industrial Complex and the Security Agencies and all of the appendages to them….that wish to continue their profligate ways and provoke wars to remove sovereignty whilst enlarging the empire, continuing the multiple space programs and operating Trillion dollar budgets that do not have any accountability. These are the ones that have pushed the system to the brink. It is now cracking under the strain….and so we must see deflationary pressures being exerted across the spectrum globally ….in tandem with an enlarged QE program on all western fronts.
Rick A:
Hopefully NOT 🙂 Here’s one problem I see with all this ‘money bizness’: The interests and fate of the source of life are totally ignored. There are few if any notions more destructive (and impractical) than that of using gold for money—at this population level anyway. Demand for gold is planetary suicide, as we frequently see corporate plans to destroy huge tracts of land that sustain many species to obtain it. It’s something like 200 tons of toxic mine waste to an ounce of gold. It’s similar for most other types of mining. Look at Butte, Montana http://www.counterpunch.org/2003/01/04/something-about-butte/ This is not sense, but induced insanity, which the Elite specialize in normalizing. One aspect of that, in turn, is the notion that gold has any value whatsoever, other than what is arbitrarily assigned to it. Some say because it’s rare. So what. If there were only one nugget on the planet and no one lusted for it, it would be “worth” nothing. We have been Elite-conned in this respect, about the value of gold. I put it this way: Gold Sachs, man 🙂
Moreover, the giant error of money is the idea that it must be a store of value, instead of a standard of value, or medium of exchange. Another Elite con. Nor should money be allowed to be a commodity. Another Elite con. The problem is not fiat money per se, but dishonestly managed fiat money. It’s actually the most practical form of money that is a fixed standard of value. And it can be issued (spent or loaned interest-free) from government (not private banking, a legalized crime), when needed, as needed, where needed, without causing inflation. Of course, this would cause ‘too much’ prosperity in the current economic stupidity that has been foisted upon the world and accepted by a culture wholly alienated from Nature and fascinated by the routine satisfaction of runaway material lust via earth-in-liquidation. The Elite must laugh – they’ve got folks yearning for what makes them sick and destroys them.
The rape/toxification of the source of life to make things and cash is not a sound basis for an economy. Only harmony with Nature is. When the real crunch comes, I’d rather have a warehouse full of spirulina than one full of gold. And maybe we can emerge in a scene without corporations, Wall Street, ‘the’ interest rate, income taxes, the stock market, etc It’s all ‘boolsht’ and symptomatic of the ancient, Elite manipulation of human society.
Russia and China, the Brics say, speak for your own Rick!
If you happen to be speaking in terms of cryptocurrency, such as Bitcoin – the matters would then be:
1) The security of the cryptocurrency. Just as with any cryptocurrency, you lose the Private Key and you’re absolutely SOL. Security of it must be in the forefront thinking of any participant.
2) There must be a means where the crypto’s ledger is secured. The way Bitcoin and related alt coins are tracked, is through a Blockchain. Security of that is paramount, and there should be enough forethought put in as to how to maintain precise transactions. For Bitcoin, it requires numbers of users via their wallets (nodes, if using a full or QT wallet) which help secure the blockchain against a 51% attack, which would allow a double-spend if properly executed.
3) In my educated opinion, don’t entrust it to a centralized body! Doing so will render it ripe for a takeover, much as the US Government having been taken over by bank$ter$ over time. We’ve still NOT learned our lessons, despite warnings from the Founding Fathers and Ol’ Hickory!
Dear Greg,
Please ask Jim Sinclair on your presentation.
All what I hear from others for years; yes…, no…, yes…, maybe … etc etc.
Regards
Peter
I love the mention of “muddling through” . In my experience of trying to warn good friends and loved ones of the macro economic mess we are in, this is the counter argument most dear to those who ridicule and discount the warnings.
Like the unshakable belief in ‘technological advancements’ coming to our rescue, muddling through seems to be a bedrock belief . We seem to be digging the hole deeper and deeper ….
Thanks again Greg for your tireless effort to draw our attention to the slow motion train wreck that is our world economy. We see it coming and try to protect against those flying rail cars we know are headed our way.
The muddling through scenario fails because it is taking increasingly large sums of borrowing to sustain the Great Hoax. There was a time when 1.00 of new borrowing produced as much as $1.70 of GDP growth. Now, it takes about $31 of borrowing to produce that same dollar of growth. How long can that go on?
To all of these annalist that are none believers in gold and silver , just answer this one simple question, Why now all of a sudden is there a collar on silver and gold ? To me that tells whole story what is going to happen. They know their poncy scheme is coming to an end and they want to control the price from climbing to fast.
Exactly James!
Greg,
I enjoyed your interview with Rick. You asked Rick when this all ends for the dollar, maybe the English pound that preceded the dollar may offer a clue. After world war II the Bretton Woods Agreement gave birth to the dollar as a world currency. The dollar was backed by Gold. Today we are facing the threat of a world war and China is accumulating an enormous amount of gold to back the Yuan. Is history about to repeat itself?
Rick mentioned mal investment, which is caused by the Federal Reserve’s ability to create money at will. This is playing out according to Von Mises brilliant book ‘HUMAN ACTION’, Mal investment is the result of business decisions made on easy money / credit, backed by nothing, through a central bank such as the Federal Reserve. The business decisions based on easy credit / money will lead to failure as soon as the easy money / credit dries up.
It appears the banks are going to war against physical cash and this could lead to THE MARK OF THE BEAST as predicted in THE HOLY BIBLE, certainly the technology to implant an RFID or place a Tatoo on a hand or forehead is available. One will not be able to BUY or SELL without the MARK. If Rick is right about the world having no choice but to deal in the dollar, the result will be worldwide HYPER INFLATION followed by a worldwide DEPRESION. We do live in interesting times!
Not sure if you can sum up an entire market as a “collar”. Whatever it is, bullion has been trending lower for 42 months. My target for Comex Gold is $810 — and I LIKE the stuff…cherish my double eagles, maple leafs and Morgans.
$810 would be about 30% BELOW the cost of production, so pretty much every mine in the world would come to a halt, no supply for the Chinese and Russians , so unless you can sell you thesis that the dollar will appreciate by another 30-40% against ALL paper currencies , gold simply cannot drop this much in dollar terms. Now you yourself say that the FED can’t raise rates because the dollar would become too strong and kill exports etc. , so i see nothing but contradiction in your thesis . As for the dollar , it only trades against other flavors of western toilet paper, who are all inflating at the same time, so the “exchange rate” has no teeth. Now enter China this fall as the IMF reshuffles the deck, and China gets a bigger seat at the table…. guess where the dollar will “trade” then? there are already major hubs for the Chinese currency in Toronto, Germany, and London . they obviously are going to make their currency fully convertible at some point, and they are stacking gold to back it. same goes for the Russians who have only a 10% debt to GDP and yet their currency gets bashed by the Rothschild bankers for now. Neither Russia nor China will allow the Rothschilds to place a central bank in their countries They are wise the the ways of the Western bankers and won’t fall for the ruse . This is what the scrimmage with Russia is really all about. Anyway, back to your prediction of $810 gold, based upon The huge gold demand by China, Russia and India , it is virtually impossible for PHYSICAL gold to trade at that price. Sure in the short term the CRIMEX can price it at whatever they want, hell they might as well price it at zero , who cares. I have been buying a lot of silver since last fall from NW Mint in Washington state. my average delivery time is running around 2 months for large orders. I have orders in from last November that they keep delaying because THEY HAVE NO INVENTORY … go ahead Rick , call any big dealer in silver right now and see how long it takes to get delivery on a large order at these ridiculous prices. IN summary, your whole thesis is illogical, and Greg’s readers should take note. not sure if you have a hidden agenda or you are just suffering from involuted logic.
You’re thinking way too hard, Jack, and your elaborate logic winds up being just a daisy chain. I don’t trust logic to explain a financial world that has gone nuts; I simply trust my charts. In that regard, the monthly chart of the Dollar Index is in a parabolic rally that has yet to correct since the rally began last May. This is manifestly the impulsive stage of an extremely powerful bull market, and it leaves me with no doubt that 2001’s highs near 120 will be tested. (DXY currently trading around 97.44.) If you’re skeptical about the accuracy of my technical forecasts, I invite you to visit my chat room so that you can ask subscribers yourself. Two-week free trial available by clicking the “JOIN” tab at the top of my home page.)
Who is thinking too hard here Rick? in Rigged markets,( which you admit to) charts mean nothing. all markets are rigged for POLITICAL purposes. I will stay with FUNDAMENTALS and the fundamentals say I can’t get filled on a big silver order for 4 months!!! I’ll tell you where you can stash your “charts”
True, charts don’t always tell the complete story, especially with the Goldman Sachs of the world who pull the opposite of what they preach. Still, charts are very powerful and can give even those with a strong gut-instinct a powerful heads-up to watch. I rarely construe exact timing on a trade based solely on charts or technical analysis, except for an extreme and unsustainable parabola. In that instance, this Hairy Guy trends the para in shorter and shorter time durations until the move stalls. Then be set with the Sell Button.
Bottom Line? Markets have the FINAL say, and they can remain quite irrational. I see this present market due to the Paper Ponzi as one which shall remain irrational for a long time, at least until the derivatives crash where the banks run to Congress with hats in hands, begging and arm-twisting as they always do.
How do you know if his charts are accurate or not? Bear in mind, John Williams of ShadowStats fame develops charts based not on the manipulations that the District of Criminals uses. I have no problem with Rick’s data if the numbers used therein are true.
I can fill your big silver order in 4 seconds. You are simply looking at the wrong place to fill your order.
Thanks Rick,
Logic grounded in reality and experience.
RA…..you still use charts. Aren’t they so very “Last Century”….given the manipulation of ALL MARKETS…..including the DXY.
Algo’s and HFT’s don’t have any bearing on direction/trends…I presume???
You have something in common with H Dent …complete disregard for the size of the PAINT BRUSH being used.
I know….I know…..volatility is a traders best friend. Stick with it because that’s what this is all about…try denying it. I suspect you will attain more notoriety/luck through INCREASED volatility in the days/weeks/months ahead.
Charts work, SIG — very precisely.
I don’t need a chart to tell me the DXY has gone up 20%. What charts do….give you a history lesson. They do not predict the future. I can tell you that you are constantly adjusting your parameters and assumptions because you are forced to as all the metrics that you use are failing. LT UST don’t need charts…you just need to understand the dynamic at play….unlimited QE…..falling interest rates. Unless and until that MO changes ….LT Bonds are a buy. There is nothing fundamental about that or Stocks or Gold….every one of them is manipulated. Like I have said many times you don’t need to be a rocket scientist to work out where the money is flowing…..and as far as the phrase…”only game in town (in reference to the USD)” …I own it !!
Jack, u the man!!
Off Topic..No offense but Thanx to Cryptic little sister for making my days.She speaks volumes but only to those who are still young at heart..1Cor4:5;without the Jezebel kind of spirit.
Wish we could meet.I got my eyes on you too..as you warn the rest.I always laugh coz thats how the CLS caterpillar got wings to fly.
Pray your networks won’t be hit by the drama presentin itself around your borders.
No fear..hope your weapons of war will be things to talk about in the future.
A Military fun.
Planet Fringus has there eyes on the grand canyon. There is a shortage of rocks on fringus.
You crack me up, CBB (Cryptic Big Brother)!
Greg my brain totally shut down when Rick Ackerman made the statement that ” The Dollar Is Not Replaceable”. Really? I guess that explains why over 130 countries just signed with the AIIB. Do you need a train to fall on you to understand that the world is decoupling from the dollar right now?
QUIT LOOKING AT THE MARKETS! THEY’RE RIGGED!
You cannot have normal monetary policies when the Federal Reserve is buying up Treasury Notes in one hand while printing money with the other. Its a full blown Ponzi Scheme! Its an illusion. The dollar index is going inverted because of the Federal Reserves Bond buying program. When they stop guess what happens?
https://youtu.be/p5KkdXf1awA
My advice to Mr. Ackerman. Get a fresh pair of drawers. You’re going to need them come September.
The 130 countries can sign whatever they like, but that won’t change the reality of the dollar being the only game in town. Aren’t the 130 who evidently command your respect all zealous believers in the crackpot idea that monetization will bring back prosperity?
I notice also that you haven’t stated just what will replace the dollar. Can you elaborate on this while I run out to the haberdashery?
what will replace the dollar???? hmmm that’s tough one… Gold anyone?
Rick. China will have SDR drawing rights from the IMF by September. Then what?
The IMF? Is that, like, the U.N of global finance?
Jerry
I am a cattle breeder …… I deal with bullshite every day, I’m used to it ……lots of it.
Just my opinion but I think both Ackerman and Dent are full of it……up to their eyebrows.
Cheers
Col
Thanks Colin. Everybody has an agenda. Ackerman’s no different. He just happen to be in love with the dollar. You know the dollar that’s being printed into infinity? 🙂
…the dollar that has risen in value by 20% since last May.
Because were at war Rick with The Russka’s, with the big gun’s, ‘Saudi oil!’. You know how wars go, “here today, long gone tomorrow!”
My point was that “because” is unnecessary here. Like all traders, I simply view a rising market as bullish, no explanations needed.
This is the same as saying you are getting more than your money’s worth playing the games in the midway at the State Fair. Its a sham. And the winners are the liars that are printing the money and telling the public they are getting one heck of a deal.
Against What ? Some context if you will.
Colin, I’m guessing that you think your post was pretty clever, and that merely because you live off the land, that anything you say will be regarded as wisdom. In fact, you haven’t provided much of an argument.
Thanks Rick, appreciate your moderation.
The world of finance is not black and white, and there is no easy-painless fix for the issues faced. I agree, Gold is just another commodity, and I agree that no one is going to voluntarily bring back a gold standard …
As you said earlier, when you take into account the amount of corruption that is overwhelming society and the upper echelons of power and finance, one wonders if there is any avoiding a catastrophic reset. If that happens, then all bets are off … and chaos could be the order the day. Gold may then be a great value .. but those in power would resist with force gold becoming currency again, as the ability to trade would be enormously impacted and the ability to behave badly would also be limited.
We watch with interest.
Thanks for your kind words, Emeth.
No Rick, I don’t regard myself as particularly clever.
But I don’t live and work in the “casino world”.
I exist in the real world and perhaps from this 60 years experience I have gained some small measure of wisdom. I will quote Rob Kirby from a previous WD interview:
“The real problem is with the money itself. We need to revert back to real capitalism which is real weights and measures and honest commerce. Otherwise, we are going to devolve into a very dark period of feudalist oppression.”
Rick I think you don’t even know it but you are on the deck of the Titanic. You walk with a swagger and you rub shoulders with the first class passengers gorging on champagne and caviar. You know full well that if anything happens on this ”trip” you will be walking over people to get to a lifeboat first.
Being a farmer I am in steerage class and in all likelihood will not make it out of the ship before it goes down, let alone find a seat on a lifeboat.
At least I will go to my grave knowing that I spent my time producing and trading in something real and tangible and that I never ever endorsed the use of a counterfeit currency printed by banksters in unlimited amounts and at somebody else’s expense.
Cheers
Col
Hey Colin,
I for one really enjoy your “clever” comments and your real world perspective. We use to have an abundance of it here, but it fell out of favor once we opted to become a “politically correct” nation. A not so famous American once said, “There are three things in the world that deserve no mercy, hypocrisy, fraud and tyranny.” All three of these attributes are now rife in America and as a consequence you’ll see more interesting times ahead.
Later,
SoD
Jerry I don’t even need to read the rest of your post to know .. YOU NAILED IT.
Stock investors are as big a problem as those manipulating it. One in the same GREED.
Throw the book sellers in also. When will someone point out the fact that if you invest in stocks you support a rigged system for gain. There is no difference between the millionaire begging for food and a stock investor. It is all GREED. God will soon judge this.
WOW I just decided to read the post.. Common sense rules. I have nothing to add.
You hit the nail right on the head, it is that simple. Why don`t other`s see it.
Greg, do you still think gold is a wise purchase? Do you still feel a big collapse is coming? Your efforts are appreciated.
David H,
Gold and silver coins are insurance. Do you think you need insurance. I think it should be a core asset held under your direct control. How much insurance you need is up to you. Thank you for your comment and question.
Greg
See my post above. Even though I see gold falling to $810, I haven’t sold a single coin or bullion round.
I will give you an investment answer. Forget about everything that is going on in the world and just think of right now. At this point in time , what do you think will happen first, the dow will double and go to 36,000 , or will silver double and go to $32 an ounce. I don`t care how long of a time frame you give yourself, silver will hit the target way before the dow will.
Why not just short the Dow?
Not only as insurance as Greg says … but for massive capital gains when the re-set is implemented!
In my humble opinion, if you buy gold for a collapse, buy 1/10th ounces. If you ever need them for trade/barter, they’ll be much more useful. If you buy gold strictly as a hedge to protect your wealth, larger bullion would be best.
Rick Ackerman, many thumbs up. You and Jim Sinclair are the top two USAWatchdog guests in terms of common sense.
I like RA… A sensible, level-headed guy who invests based upon the facts as he sees them.
No wild conjecture or profanity about what “might” happen. The Gold bugs will not like him but he is a trader, not a PM salesman.
Thanks, 8Ball. I’ve got many subscribers who evidently continue to bottom-fish my bearish targets each time gold ratchets lower. I’ve been advising them to buy if they must, but only if they’ve been short on the way down.
RA,
How does dying money velocity, plunging labor participation rate, a failing business participation rate play into this.
Surely these type of foundational fundamentals determine the outcome?
All symptoms of deflation, WD. Taken together, plus a few you didn’t mention, they explain why it is now taking more than $30 of borrowed stimulus to generate $1 worth of GDP growth.
Thanks for the answer…
8 Ball You need to rethink stock investors. They are as much a problem as the fed reserve bank. The MIC, and drug running gov officals. How can we blame the casino for our own gambling habits ? Just as we know the game is rigged in stocks we know we will win if we play, so where will this take the country.. Total collapse . JFK Said don’t ask what your country will do for you ask what can YOU do for your country. At some point we the people MUST take responsibility for our own actions. Dump the stock investors and follow a clear conscience. It is time to decide if we will be a follower of good, or evil. Not much time left to get it right. Cash is trash.
8Ball forgive my harshness. Not my comment. Stock investors are as crooked as all others in the line. I don’t want to offend you. I just believe stock investors are killing the (real ) recovery of America. I really don’t want to offend you.
I would qualify “stock investors” as the thieves and mountebanks who make their living throwing other people’s money at ridiculous overvalued assets.
No offense taken… The USAWD format of interviewing people with a wide variety of viewpoints is refreshing.
I personally think the collapse will come when the elites want it to. I don’t think market fundamentals will have anything to do with it. After looking more deeply into the recent Walmart closures, I have come to the conclusion that we — as a country — have formally entered the lead-up to a planned financial collapse later this year and that the geographic positioning of these stores make them ideal as supply centers for when the country is under martial law. I have been expecting this for a very long time and now it is here, “hidden in plain sight.”
None of the explanations offered fit as well as what I have seen on two “conspiracy” sites (which I normally discount as paranoid): a two-part article by Doug Hagmann, posted in late December 2012 (http://www.homelandsecurityus.com/archives/7305) and a recent article by Dave Hodges (http://www.thecommonsenseshow.com/2015/04/21/under-jade-helm-canadian-troops-will-help-enforce-martial-law-on-americans/). Pay special attention to the video of Dr. William Mount at the bottom of the page.
Every bit of what I have known was coming has arrived at our doorstep, including a “future flash” I had back in 2002. My former husband and I had taken our cat to the animal hospital south of Spokane, WA for evaluation. While his tests were being run, we crossed over into Idaho to do some window shopping at a large mall there. As we crossed the state line, I had a sudden “flash” that there would be a day when people could not travel from state to state without going through checkpoints. That vision was confirmed by the DHS insider who said that TSA would be upgraded and put in charge of domestic travel, over and above their current role at airports.
All of this talk about “black swans” and what the price of gold or silver might be pales into insignificance when one considers the magnitude of what has begun to unfold. The darkest days in the history of the planet are here, or at least they soon will be, in my view. History is NOT going to repeat. These ARE the “end times” and there will not be a recovery in the usual sense of the word.
There are no new lands anymore. There is only the struggle for who will be the top dog, and the elites don’t care who it is because they control the entire game — at least for now. Other factors will affect things and decide the ultimate outcome, but right now we are about to go through the “suffering of those days” spoken about in Matthew 24:29 and Mark 13:24. There is certainly more to the story and it doesn’t end there, but I hope that some of you here can appreciate that it truly HAS begun. The rest of this year will tell the tale…
The cold logic of a breakdown — that it will necessarily be all-encompassing — is almost too depressing to imagine. It is part of the folly of this age that those who see merely hard times coming are regarded as nut-jobs. Unfortunately for us all, there are many reasons why the Second Great Depression is likely to be worse than the first. To mention a few:
1. 30% of the U.S. population was tied to the farm economy, literally living off the land.
2. Jobs were not so specialized then that we could not determine whether they had economic value.
3. The U.S. dollar was sound.
4. Homeowners were unencumbered by mortgage debt (as opposed to hocked 80% against a grotesquely inflated value.
5. Americans could fix things.
6. Big Government did not run everything.
7. Relatively few Americans needed assistance from the government.
8. Doctors made house calls, and health insurance was unnecessary.
9. Schools prepared students for economically useful jobs.
10. The economy of real goods was not on a fragile, just-in-time delivery system.
11. Etcetera.
Rick A.
and……
They didn’t have a 303 trillion dollar derivatives market, 125 billion dollar un funded liabilities, our mnfg shipped off to china/Canada/mexico/ everywhere.
The rest of the world didn’t own our treasury bonds, and THE DOLLAR was backed by GOLD/SILVER
There was no other currency in place to replace the dollar like there is today. Today there are many fake currencies.
Rick,
Everything on your list was foreplay. It was planned, it was guided, and it is now fact. I shouldn’t have to remind you that the intent behind foreplay is … well, I’ll put it nicely and call it the climax.
We don’t have true markets anymore. We don’t have honest trade anymore. Cash apparently can’t even be used for garage sales, according to some recent legislation somewhere.
The writing is on the wall. You appear to have grasped the elements, but what you have not apparently grasped is the full intent of the elites to greatly cull the herd, and make compliant slaves out of everyone that remains. It’s all in place and they have now shown that they are moving forward with their plans — THIS year. Rob Kirby and Bill Holter know this and are willing to say it out loud.
There are other factors in play, but they are largely hidden and will come when it’s time for them to come. This I know. I have seen the future and it’s as I have said. What surprised me is just how much of what I know was said in those two articles I cited. The collapse will come when the elites want it to, but that’s not the end of the story.
Sure, that’s what they plan…..but they don’t rule the universe. Anyone who buys into the elites topping God deserves what they get. The elites have created an illusion and have projected that possibility onto nearly all of us. But I don’t buy it…and I’m one of those who outlasted foreclosure suit for 5 years to get a loan that I’m unqualified for on paper—except, I can do it. 4 attorneys said I’d never pull it off. But I did. I don’t buy their illusions.
Sure, people are dying, but maybe they also want to leave…it’s too complicated a situation for those who have no energy. Read John Adams by David McCullough for a reminder of how tough the American Revolution was and how few really main players it had. It’s the same today.
Watch : Holographic Disclosures for a bigger picture.
Desert Rose
Could you tell me how you beat the foreclosure rap…I ask because its personal
Although I believe every word of “The Road to Serfdom” and “The Creature from Jekyll Island,” I am too cynical to think that the Powers That Be have all their ducks in order. What’s coming, I fear, will be far worse than they had imagined. How much wealth will you need to make a world like the one envisioned in “The Road” livable, let alone pleasurable? How much money to avoid the ravages of famine, plague, terror and nuclear war?
Nice post NC Gal,
Your so right, the elites have control,but only while God lets them!
I fear we have just entered the “Great time of trouble” mentioned in those verses you quoted.
Even those who would class themselves as “unbelievers” that I know,are starting to scratch their heads asking “what the hell is going on in the world”
Having said that,when I start to tell them what I think is happening they tend to give me that vacant stare and I see their mental shutters coming down.
Although one of my long term work associates has started to stock up on food items and other such things as he can see something is brewing.
God Bless.
Hello Greg;
Thoughtful interviews It’s telling that there is such diversity of opinions as to what’s happening now and in the future. What is significant is that the opinions all share the belief that huge and dramatic change is in our future. While i find it difficult to sort out all the possible financial outcomes, i believe there is at least some remedies to whatever happens: Grow food, get out of the cities, keep PM and Cash in your possession, and sadly, arm yourself.
However there is another issue which i believe is the true nightmare…the government repression of Cash as legal tender. Did Louisiana pass a law making it illegal to use cash in a garage sale purchase? Why would they? Is it merely an attempt to pick up undeclared sales tax, or is it the earl move by Gov to know, and thus control every facet of our economy? Cash is your pocket is untraceable (barring RFID tags), and one of our last bastions of independence. Allow the gov to legislate a cashless society, and their control of our lives will be complete.
The economy will probably fail in a massive way, but when chaos reigns, even cops and military will have family to worry about…there will be mass desertions in their ranks….and one day the sun will come out and life will slowly return ….but i fear the gov will turn to a cashless society during the chaos, in order to control we the people.
Once digital cash is in force, we are truly screwed. I raise this matter in the hope that we tinfoil hats keep a weather eye for the early gov moves against cash, so we can fight it tooth and claw.
Thanks Greg for your excellent interiews
My friend Sean Brodrick has published an excellent book for coping in very hard times: “The Ultimate Suburban Survivalist Guide: The Smartest Money Moves to Prepare for Any Crisis”. Sean is skeptical that we’ll all head for the hills with guns, ammo, food & water rations. This books talks about making do as we hunker down in our suburban cul-de-sacs. Which is to say, neighborliness may hold the best hope for survival.
Thats sounds fine Rick as long as you live next to the “right kind” of neighbours!
For the most part I see civil disobedience and anarchy,sure those disneyland cul-de-sacs might give you a few extra weeks or months until your ammo runs out.
The impoverished and break bad neighbourhoods are a powder keg just waiting to be ignited,anyone living in big cities will find it the toughest to survive,as your up against those who had nothing to begin with,and now will see your cul-de-sacs as nothing more than a 7/11.
Once the beast is unleashed,we will be entering another reality which “this world has never seen,nor will ever see again.”Matthew 24:21
Pray for God’s Kingdom my friend, as its our only hope.
One of my more “out there” pen pals tells me that a cul-de-sac is very difficult to defend. A military man who has joined his compound in Western PA says securing a cul de sac as small as ten homes would require at least two sniper positions.
http://www.thesurvivalistblog.net/great-realworld-survival-lessons-ukraine/
http://www.thesurvivalistblog.net/great-realworld-survival-lessons-ukraine/
In my amateur opinion, the dollar is strong because the Euro and Yen are weak, it’s all relative. One cure for the strong dollar would be another BIG round of QE. Egon von Greyerz forecast another round of MP (money printing) in your December interview – https://usawatchdog.com/global-deflationary-implosion-will-start-money-printing-egon-von-greyerz/ and if it’s big enough would ameliorate the strong dollar/deflation issue.
QE to Infinity and beyond … uncharted waters…
… other solutions I read are things like Debt Jubilee, Global Currency Reset and the like, but who decides to do that? The same group profiting from the current chaos? Paper, it’s all just paper that can be defaulted.
What’s real is the drought in California. Greg, you may want to consider doing a weekly news wrap from Fresno sometime later this year. Bring your own drinking water…
Greg
Ackerman has his head in the sand on counterparty risk.
The strong dollar is making it hard for foreign debtors to pay on the 10 trillion in dollar denominated loans who can default. That can hit the derivative counter parties (i.e US banks) who bet on that 1o trillion in loans and hit the banks thin capital reserves.
He is correct that in the short run (when there are no foreign defaults) closing out derivatives will warrant demand for dollars. But when small defaults like Greece start the ball rolling ,Ackerman’s bond bubble will then pop.
What will that do to the hedge fund known as the Fed’s narrow 1.5% capital position.? In the past US banks made the US tax payer bail out Mexico’s loans to benefit the US banks. Unfortunately we used up that source in 2009. All we have now is the printing press and bail ins from customer accounts to bail out the banks who control Congress and the President. The Fed is owned by the banks so of course they will bail themselves out via printing press. Not good for Ackerman’s bond bubble.
He isn’t worried for 5 years while Greece is showing warning signs now.
The most likely outcome is a mixture of inflation and deflation as the Fed bails out banks. Gold has shown it can hold up in deflation in the 1930s and the inflation of the 1970s. Municipal Bonds can get crushed by defaults during deflation and higher rates during inflation.
Good stuff Julie. Thank you for adding your comment and perspective.
Greg
Neither you nor anyone else can even remotely estimate the extent of “counter-party risk”. Nonetheless, you imply that it can be unwound in an orderly way. This is preposterous. Far more likely is that we will awaken one morning with Asian and European markets collapsing and U.S. banks closed indefinitely. The deflationary implosion — inevitable even now — will occur with the speed of a thunderclap, and the best preparation you could make would be to have shoebox full of $1, $5s, $10s, and $20s. Paper currency and coins will be the coin of the realm on Day One, since that’s the only money the Safeway clerk will understand.
And if you actually believe that printing press money will have a role to play in mitigating this disaster, you don’t understand how money works. Read Adam Fergusson’s “When Money Died” to understand why Weimar-style currency hyperinflation is impossible in these times.
Rick … I’m not very gung ho about saving a shoebox filled with “Fed Notes” (paper cash) … but definitely like your the idea of holding “Treasury issued” (coins) to tide me over a Bank Holiday scenario!
With regard to hyperinflation … just looking at a chart of the money supply one can easily see it is growing exponentially … but additional unseen voluminous quantities of dollars “not seen on this chart” have been printed and given to the banks to bolster their balance sheets … it is listed on the banks books as “excess reserves” … the Fed through its QE programs have printed up gobs and gobs of this “excess reserve money” which is clearly inflationary … but the Fed claims it is not inflationary money printing because this money is “lodged” on the books of the banks balance sheets and has not gone into circulation … so the Fed makes the claim that this huge expansion of bank reserves does not translate into monetary expansion … what they don’t tell us is that one day the banks “will begin to use these excess reserves to make loans” … and these excess reserves (because of fractional banking) will result in 10 times more dollars being created out of thin air!
So Rick your claim that hyperinflation is “impossible” … implies that banks will cease to perform their function (to make loans) … but if bankers continue to be bankers … it becomes obvious that hyperinflation is just around the corner!
Mr. Ackerman, although i may not agree with some of what you state I do believe this statement.
Far more likely is that we will awaken one morning with Asian and European markets collapsing and U.S. banks closed indefinitely.
It is also my opinion that we arrived at this crossroads by design.
Everything happens for a reason and we have been directed here by those in control.
Soon we will all learn what UGLY really looks like.
Look to Europe and the Middle East and see what happens when things begin to unwind under the control of individuals with an agenda.
The Industrial Military Complex does not want peace..they simply want a larger piece of the economic pie.
Like this part Julie … “Gold has shown it can hold up in deflation (in the 1930’s) while Municipal Bonds got crushed … and Gold has shown it can hold up in the inflation (of the 1970’s) while Municipal Bonds got crushed” … Gold’s historical action proves it is an investment for all seasons!
Paul,
Gold works the very best in extremes. I think that is what you described. What is coming no matter if hyperinflation or deflation (or both nat the same time) it will be extreme. Good, sharp, instructional comment my friend!!
Greg
Julie
Agreed!
And just maybe the Greek defaults won’t be quite so “small” either.
The ECB apparently holds some 100 billion Euros of Greek debt.
What about the derivatives created off the Greek debt. This could leverage out to trillions of Euros.
http://blog.milesfranklin.com/greecing-the-world/comment-page-2#comment-20578
Cheers
Col
Fall financial events have something to do with the time of year? Many guest speakers have said that **all** markets are rigged. The stock market crash of ’29 was no exception. A cousin in my maternal family line, had been working for a bank, probably Manufacturer’s Trust for many years. One day the boss comes in and tells everyone to sell all of their stocks . The the well known crash occurred thereafter, and the cousin, who did sell all personal stocks, moved to Kentucky raising purebred horses. The second version of the story is that it was an employee who related the story years later as my mother worked for Manufacturer’s Trust in stock transfer. So much for keeping tabs on insider trading.
Family lore or not, the crash did not occur due to the time of year, but was more than likely a planned event.
With our dollar being built upon a house of cards, I cannot see it being a black swan event. Even currently, the move is to make the dollar irrelevant.
As far as the push to eliminate cash, black and grey markets world wide deal in mostly dollars, but other paper money as well. I do not see that changing. Even during a total crash, paper money is important. In every society, the fiat money has held the status of value, and will still be used during the beginning stages of a crash. This is not my opinion, but is what happened in Argentina.
See my post above re keeping a shoebox full of currency.
My Grandfather owned a couple of gas stations when the depression hit. Luck and Wisdom .. he did not deposited the cash at the banks for a few months prior to it hitting, but kept the collected $$$ at home …in tin boxes (shoe boxes are to flimsy, no disrespect Rick). That hard cash, and not digits recorded at a bank, allowed him to prosper throughout the entire depression and beyond. If the Mad Max scenario unfolds: Stage 1 – hard cash will be king for a short while; Stage 2 – Food, medical supplies, gold and silver will be king; Stage 3 – How well armed your Clan is (bigger the better) . Let’s pray it does not get to stage 2!
freebreezer, nailed it!!!!!!!
Alarmed,
I have mentioned this before but will do so again.
My daughter worked as a P.A for one of our banks CEO’s here in Australia,she came across a confidential email 2 weeks before the GFC,warning the CEO on what action to take due to what was about to happen,and sure enough as we all know the %$&( hit the fan.
Enough said.
We need to print ourselves up to a phony prosperity to remain relevant, in a world that needs us less and less…Profound, bears repeating! Vincent 04/21/2015 USAWatchdog;
Wow Greg, each guest gives a different perspective. Strong dollar, low interest forever, out of necessity, gold going nowhere, deflationary environment, all things continue. I would tend to believe him over Mr. Dent, if it was not for the increasing debt and it being the source of the environment we’re in. I think Mr. Dent was wrong about the reason PM would increase in value, because mostly people tend to buy metals because of mistrust in the system, not because of inflation, deflation cycles. Fear, or insecurity about the monetary system. Metals are the last thing standing at the bottom of an inverted pyramid, and when extreme deflation strikes, the move to tangible assets always follow. Which is what we’re seeing now globally. Like the musical chair game, not enough assets for paper claims, which is the true environment we’re in now. So, to me the question would be, are we truly going to be forced into an end game play. Your quest conviction, by his investment strategy, see’s no end game being played out, or end of the monetary system itself, but believes the dollar reserve status will continue unabated. To me, both Mr. Dent and this quest, doesn’t see a saturation point, were debt would cause at some point a necessary change to the system itself. I believe the Fed. will be forced by deflation to print once again, because deflation will begin to cause default of such magnitude, that a new system would be required, by necessity. The worse things get, the more people will choose PM, and the more obvious it will become to the public, that the Fed. can’t stop what there policies have put in motion. This system, will collapse under its own weight. Look at Europe and rest of world that are in deflation, metals are rising, but according to Dent and this guest prices should be going down. All over the world, but not yet in US, the last tangible asset at the bottom of the inverted pyramid, is asserting its rightful place. I suppose America, though the reserve status allows it to have a strong dollar now, will in time, through loss of confidence will do the same. Deflation has been transported to emerging markets, and much of the present developed economies, and if they can’t stem the tide, through printing or other temporary band aides, the same deflationary forces will begin to cause liquidity short falls throughout the system, and the scramble for tangible assets, on the inverted pyramid will continue, until all remaining tangible assets are in strong hands. Paper assets, or at least the ones that are not seen as being worthy to hold for debt, will be caught standing without a chair. Time element in such a game is hard to grasp, so I’m left with a big question mark. Thanks Greg, and to those who commit here.
Thank you Don.
Greg
Think “DEFLATION’ and your questions will answer themselves, Don. Concerning people buying gold because they mistrust the system, the question is, buy gold with what? Americans have no savings — other than in egregiously inflated assets such as homes and stocks. How many Americans are selling their homes and putting the proceeds in gold bars? If that day comes, the trend won’t see a second day.
Well Rick, deflation, would be a lack of money supply, which is what we’re seeing. As witnessed by strong dollar and liquidity problems. When you look at monetary history and fiat currencies, governments most, but not always chose to debase there currency, by many different means, until the hyperinflation destroyed there economy and the people literally starved in some cases. Most all wealth was transferred to the wealthy. In some cases, it set the stage for fascist, imperial form of government, like Hitler, Musolini, Franco. I’m not an economic authority, but the fed. will try to keep the system afloat as long as they can, or at least until the g20 is ready to move to a new system. I understand why you think the dollar will not be dethroned any time soon, and I agree, but a new system is in the making and we are being pushed into a global government and a new economic system, were at some point all assets will be revaluated, don’t you think? All paper will may go to zero, when it does. I’m not really sure were you disagreed with what I said, so if you would instruct me, I will take it to count.
Don’t swallow that old, simplistic monetarist bilge about inflation being an increase in the money supply, and deflation being a decrease. Money/credit takes so many forms these days that no one could begin to count it all. To understand deflation perfectly, you need only know it by its chief symptom: AN INCREASE IN THE REAL BURDEN OF DEBT. So far, the Fed has been able to lighten the biggest piece of this burden — mortgage debt — by holding interest rates down. But it has always been predictable that this will fail. The housing collapse of 2007-08 only half-finished the job. At some point, with home prices falling anew, today’s 3% mortgages will become a crushing burden.
Maybe I should have put it this way, increase money supply that’s allowed to chase goods. As in money velocity will cause inflation. Most of the bailout money, never left the books of the big banks. They kept it for gambling and have only gotten bigger. The velocity of the M2 money supply will show the deflationary collapse we’re in. Not just the supply. Had all the QE and other money the fed. supplied allow to become part of the M2 money supply, I assure you we would have seen a lot more inflation, and the velocity of money would have soared. I found your argument about not being about to have a hyperinflation situation without literal cash being used to chase good’s, and I’d have to disagree. If I understood your intent that is. You don’t need cash to have inflation. Since 1971, at the closing of the gold window by Nixon, the fed. has caused, through inflation, has inflated most the dollar away. The fed. can cause inflation or deflation at will, pretty much. Just like credit expansion cause housing to soar, yet few literal dollars changed hands. How could it with a 1 dollar to 10 fractional reserve system.
Dear Rick, one other thing I need to say about the example of inflation in housing through credit expansion, and this may have been your point in the inflation argument is. Through inflation was seen in housing, the debt load to public increased, which has a deflationary effect. If that’s the point you were making. The bottom line to all of this, is a fiat currency has to always create more debt to keep from collapsing. Its a Ponzi, from its creation. So a deflationary collapse is built into the system. That’s the one reason why inflation has to be maintained in the system, so it won’t collapse until there ready for it to. Credit and debt have to grown, for it to survive.
Yes, hyperinflation can come on the mere epiphany that one’s currency is worthless, or about to become so. But actual events are bearing out my decades-old thesis that deflation would do us in first.
Regarding money velocity, the concept is poorly understood, other than by economists (and even then, only by economists who specialize in the subject). Google “liquidity preference,” read a dozen articles on the subject, and you’ll have a better understanding of what money velocity is. I did so myself years ago, preparing an article on deflation for Barron’s. I asked Alan Abelson’s assistant to send me whatever she could find on the subject, and she obliged with a deluge of articles that made me realize that I knew nothing about “money velocity.”
After reading a few the Keys, examples of liquidity preference examples you pointed out. It merely states people will choose not to release money into the velocity pool, unless they can get a good enough return. They will choose to hold cash rather than invest it. So I presume you meant that in an deflation environment the people will not feed the spend money thus creating more velocity. Which would be true. Still velocity shows money movement in an economy. Is that right? Decreased velocity would be deflationary while increased velocity inflationary. Right?
What a world we live in. Rick is bullish on bonds, while Martin Armstrong is predicting an absolute crash in the bond market starting this fall. Hard to argue that bonds are not in a bubble.
I have a lot of respect for Armstrong, but yes, on this bet one of us is going to be wrong.
This fellow wants me to buy T-bills and muni’s? In other words: loan money to entities that don’t have a snowball’s chance in Hades of repaying?! No thanks, gold and loads of silver is the only thing that makes any sense, just ask China and Russia. And India. And Turkey. and……well you get the picture.
If you foresee a day when you are going to stop paying property taxes and local sales taxes, then you might be right. Eventually you will be, of course, since states, cities and towns are just as broke as the U.S. Government. But we’re not talking about holding muni strips and such for 40 years — only till they have served their purpose: getting us past the hump.
RA,
What then explains food prices rising, real estate rising, stocks exploding etc. I am just trying to understand this dichotomy. And yes I do keep sock full of cash just in case.
Is there just certain areas that experience deflation, it seems like there is a lot of inflation now.
Its somewhat eerie to go into Wal Marts, Kmarts, Office/home depot, Kinko’s and see them not only empty but all of the workers are over 60 years old.
Seems like polar opposites going on.
Thanks
Deflation is incipient, and all price increases will only increase the size and power of the inevitable bust. The inflation you cite is niggling in comparison to the quadrillion dollar derivatives bubble we’ve grown to keep deflation at bay. But if real wages are stagnant — which they are — then the implication is that we must be borrowing from somewhere to continue consuming things whose prices are rising. The most obvious example is the second mortgages and student loans that feed the biggest, greediest hoax of them all: college education. Despite the parabolic rise in the price of a degree, it is only feeding deflation down the road: with graduates who can’t afford to start families or buy homes, and who can’t find jobs related to the courses they took.
As the late C.V. Myers said, in The Coming Deflation (1976); Every penny of every debt must be paid, if not by the borrower, then by the lender.
There is no getting around this, even by ginning up hundreds of trillions of fraudulent dollars.
Good point Rick, so the fiat system never frees itself from deflationary pressure, regardless of the asset bubbles it may create through credit expansion. The GDP charts, plus money creation show this. Only a small percentage of each dollar printed, about 2 or 3 cents show up in GDP.
Thanks RA,
I was going to try to ask you about debt/student loans etc. That is a great answer. I am seeing a whole different angle on this issue.
Thanks again
Matt
Don’t worry about it mate.
Let RA and his followers buy up the T-bills and muni’s.
Cheers
Col
Colin: Could you cite a specific post or idea of mine that you disagree with? What do you think about my post above that lists ten reasons why the Second Great Depression will be much worse than the first? It mentions, as its first point, people like you — i.e., those who live off the land — in a context that implicitly recognizes the close tie between cattlemen and a stable, sane economy.
Rick
My apologies. I hadn’t noticed this comment until now.
And by the way I do admire and thank you sincerely for engaging us here on WD so comprehensively.
#1 Your question….. “Could you cite a specific post or idea of mine that you disagree with?” How long have you got Rick?
No on second thought I believe I have already covered this earlier in comments in relation to your response to Jerry so I won’t risk repeating myself.
#2 I quote….”What do you think about my post above that lists ten reasons why the Second Great Depression will be much worse than the first?”
Yep…. I agree with 10 out of 11!
However these are hardly ground breaking revelations to many of us here on WD. Its sort of preaching to the already converted. But I do most certainly take issue with your second point;
I quote…. “Jobs were not so specialized then that we could not determine whether they had economic value.”
Man is this one ever a bit of a shocker!
Quite frankly Rick and America…..WAKE UP!
This is exactly what you need to determine.
Ignore this question at your empire’s absolute peril.
This is the very basis of your financial chaos.
The US needs to work out just what jobs and industries do have real economic value and that create real wealth. They must also deduct from this list the billions of dollars, man hours and resources that you count in your GDP but which are really just investment in the killing and maiming of millions of people globally. Take out of these equations too, the billions that are spent on financial hegemony and the deliberate chaos causing activity that you wreck on any country that dares to have any independent policy or that in anyway challenges your self appointed global authority.
I have the utmost contempt for the people that enjoy and
profit from this final wild ride that the US economy is experiencing. As far as I am concerned you either speak out and endeavor to do something about the situation or you are part and parcel of the very problem itself.
Believe me, there IS NO middle ground to walk here.
I also have absolute contempt for your countries refusal to wake up to the truth that the Fed is unconstitutional and fundamentally illegal. It needs to be completely dismembered before you have any hope of avoiding financial Armageddon. Indeed given that this evil privately owned cabal still controls the worlds reserve currency it will bring financial ruin on a global scale. This is why people like myself in the antipodes and world wide are so concerned and actually take the time and the trouble to speak out on forums such as WD. Rick you don’t know this either but it takes a real outsider to see just how self absorbed many of the relatively informed citizens of the US are, and how they actually feed and contribute to the very problem itself.
Cheers
Col
I mean in saying the markets are being held up by “massive” manipulations, are we not in essence saying that fraud is the only thing supporting the perception of value in much of the market? Do we even have a free market at this point? Or are we not just simply being told what things are worth by people whose primary interest is to maintain the ability to keep telling us what everything is worth. Given the level of blithe participation on the part of most people in this fraudulent system I do not see any reason to think people will simply not continue to be treated like chumps and marks by other people who have absolutely no compunction in doing so.
In short, the black swan that ends all of this is when enough people have had enough of this BS to actually do what it takes to end it….and that simply is not something on the horizon is it? I don’t see it, I got friends invested up to their eyeballs in open frauds and they are actually gloating about it and reveling in it.
That is why I am so certain the financial system will come crashing down in a day: It rests on a massive fraud. We already know this but have chosen not to think too hard about it, let alone prepare for it. But all it will take to end the fraud is an epiphany that is already there, lurking in the backs of our minds.
Rick … If you believe like I do that “the financial system will come crashing down in a day because it rests on a massive fraud” … then isn’t the probability of a total collapse of government “also high” … thus making paper dollars as worthless as Confederate money! … and thus requiring our shoe box be filled only with coins (having some intrinsic worth) rather then with”paper dollars” of a collapsed government?
On that part I agree with you Rick, we will wake up one morning and markets will be decimated. However I still believe that war will come first and give the elites an excuse as to why they collapsed.
I’m afraid it is wars — plural — that may come first. The forecasts of one of my pen-pals, a self-described Nostradamian, are so bleak that they make the future envisioned in Blade Runner, The Road and Terminator look sunny in comparison.
Nothing screams “End of The Dollar” like this.
http://www.bloomberg.com/news/articles/2015-04-20/mystery-of-china-s-gold-stash-may-soon-be-solved-as-imf-beckons
Greg, once the IMF audits the Chinese gold, what do you think the Chinese will ask the IMF to do next? I betting to take a look at ours. What say you?
Nothing screams “Much Higher Dollar!” like my own charts. Not to get too technical about it, but the Dollar Index’s rally since last May has exceeded four ‘external’ peaks WITHOUT A CORRECTION. This is a rally of enormous power — enough power, almost for certain, to challenge highs near 120 that were made 14 years ago. (Current DXY price: 97.92).
If you’re skeptical about technical forecasts, drop by my web site and see how I’ve been doing. Better yet, asks subscribers yourself in the chat room. You can get a free two-week subscription by clicking on the “Join” tab at the top of my home page. (Also, Greg has supplied a more direct link with my interview.)
Rick. Let me ask you a question so I can understand your thinking.
Do you believe a free market still exist? Or do you believe that it is controlled by members of the Financial Stability Board and the Bank of International Settlements? Just wondering.
Allen, JC,….all. Here is a statement from the U.N. that you can link with my last post.
“No one will enter the New World Order unless he or she will make a pledge to worship Lucifer. No one will enter the New Age unless he will take a Luciferian Initiation.”
David Spangler, Director of Planetary Initiative, United Nations
Are you getting the bigger picture yet? The SDR drawing rights that China will receive, will be a funneling mechanism to move the worlds banking system to one central bank that will be controlled by …guess who?
I don’t fault Mr. Ackerman for his views. He is working under a flawed economic theory that is no longer applies in todays global paradigm shift. If the dollar is so strong then stop QE. Its just that simple. But we all know that’s not going happen until the Chinese pull the financial rug out from under us in September.
The markets are “free” to the extent the regulators only pretend to regulate them — so free, in fact, that they are never more than a tick away from spinning wildly out of control.
Rick … when I look at the $USD Index I see it headed to 94 … before a technical bounce … but “exponential runs” like the dollar just made looks more like “a top” to me … so I’m not sure it will ever get through 100 especially if the Fed begins to “monetize” derivative failures due to a Greek exit!
We obviously use very different technical methods, Paul. I see the dollar’s rally — uncorrected on the monthly chart after 12 months — as powerfully impulsive. Elliott Wave Theory would probably reach the same conclusion.
Rick you seem to have all the answers, so tell me how do you interpret this letter that was sent to the G20 by the Financial Security Board?
http://wallstreetonparade.com/wp-content/uploads/2015/03/FSB-Chair-letter-to-G20-February-2015.pdf
Notice the heading “Post Crisis Agenda” for Basel meeting in November.
You do know who the Financial Security Board is, and who sits on it right? Be careful how you answer, because if you tell me that this board has no baring on world economic affairs (IE dollar valuation), it will tell me you don’t really know anything.
I don’t purport to have “all the answers,” Jerry, I just try to answer questions in this forum as best I can. Regarding the edicts promulgated by the Financial Stability Board that you’ve linked, it is just bureaucrats — mostly guys and gals who couldn’t have qualified for CETA jobs — pretending to regulate something or other. We should all be vexed by the fact that that someone is willing to pay them for this work.
RA,
Great answer, my sentiments exactly. Like a board of college professors telling each other how smart they are.
Jerry,
They will let them audit most of i t but not all of it, but that was a good call.
Greg
Ackerman saying I think the unwinding will be orderly is incorrect. I advocated gold as it has historically been the uncertainty hedge. FIAT currencies like the one he advocates frequently go to zero value. Uncertainty is not usually orderly. Our creditors (the billions of people in Aisa )have been burned by fiat currencies in the past and may not want more of the T bills and currency he advocates. They may want to get something for that fiat currency while they still can. The items that we need are now frequently made in their new factories. If they decide they don’t want t bills and dollars (which they already have huge amounts of )in payment then Ackerman’s fiat dollar strategy fails. Ackerman assumes he knows what Asians will feel about US bonds and currency. If Ackerman thinks it will go down in one night then how does he get out of his municipal bond position in time? He likely doesn’t and ends up wishing he had gold because no one knows the exact date.
Nowhere do I “advocate” fiat currencies. But post-crash, don’t expect the filling station attendant to value your pre-1964 silver coins as you might.
Meanwhile, you’re working way too hard trying to refute me just to sound smart. I would suggest instead that you simply try to imagine what the world would look like if you woke up one weekday and the banks were closed. And if you think gold prices will eventually hit Sinclair’s absurd targets, picture yourself trying to buy Colin’s cattle ranch for a handful of Krugerrands.
Rick. Are you saying post crash I will not be able to barter my silver? The illusion of wealth will meet real wealth.
The rest of the world will prosper when the burden of this reserve is replaced, That’s who wants my silver then. And they will get it one way or another.
julie bingo!!
Allen, do you have anything to say, or do you just spend all of your time in here being obsequious?
Rick,
You definitely win the award for the most involved guest and we appreciate it!!!
Greg
Greg
There is nothing like good robust debate to stimulate the grey matter. Great stuff!
Cheers
col
Rick A;
Just because I agree with Julie, should identify me as being obsequious. I had plenty to say further up the string of posts, at which I stated my opinion. I guess I could have broken down what Julie said, re phrased it with different adjectives, adverbs, etc, but then you would have called me a parrot, or rhetorical , or possibly then obsequious. Crudely degrading me, does not add to your interview. Maybe your obsequious because many of us do not agree with you.
Harry Dent commenter We don’t make much of anything here in the US anymore except debt and wars . . . when we have to start exchanging increasingly worthless dollars for imported goods, then the prices of imports here will go through the roof! steven starr 04/21/2015 • USAWatchdog BETTER BUY THAT CAMERA, NOW!
paul, Dent Coment; 04/21/2015 • USAWatchdog
When a government collapses its paper money becomes like Confederate dollars … worthless to pay debts with or buy food with!
Foreigners may not have much appetite for dollars after the collapse, but don’t make the mistake of thinking they will be valueless at home. See my comment above about keeping a shoebox full of paper currency.
Rick here at home paper dollars will be to clean up the rear, to wind up in the toilet, or if homeless, the Lateran! The only real money will be coin, prev. 1965 will be prim-o. Paper doesn’t last, it deteriorates. Forget all about paper, except reading and writing material and don’t worry about toilet paper, you’ll have plenty, were talking survival here! Put all your change in 5 gallon water jug’s and bury them, be a pirate! You don’t want your timbers to be shivering in the cold cruel world awaiting us all!
Buddy can you spare a dime- Der Bingle
https://www.youtube.com/watch?v=ovndTa7hQDE
As I suggested to Julie, you should try to imagine yourself awakening one morning to news that the banks have closed indefinitely. Your silver coins will surely be worth something, but few will circulate, at least initially, and you will therefore need paper money to pay for things on Day One.
Thanks Greg, Mr. Ackerman and Dent believe the deflationary forces will win. Though Mr. Dent believed deflationary forces will cause a reset of valuations. Even though I’m inclined to believe the reset valuation game will be play out, Mr. Ackerman’s holds a continued, extended deflation view it seems, with know apparent collapse. So, he must believe the ability to unwind, lies within the Fed.’s power. Jim Rickard’s give a explanation of inflation, deflation, as opposing forces that makes since to me. On one hand we see asset bubbles in different classes of the economy, with some inflation reaching the everyday items we buy. On the other hand deflation, what the Fed. is fighting to keep the system from collapsing under high debt load and credit expansion created in the asset bubbles, all are showing signs of reaching there limits. Prices in these assets have reached there limits. Housing debt, though interest rates are low, are now seeing less demand. Cheap money is there, but fewer want to borrow, for fear of value collapse and debt load, if the value of the dollar collapses under deflationary pressure. The smart money seems to be moving into real assets, who’s price would not collapse under a deflation game. The scramble for assets of this sort has resulted in, some classes like art, antiques and others to go into a bubble themselves. It looks to me like fear of deflation is beginning to rule. Now cash is beginning to be seen as evil, because the banks are trying to control cash movement under a fractional reserve system, who are leveraged 10 to 1. It appears to me, we’ll continue to see, unless the printing press is used again to hold them up for a while, continued deflation, because the person on the street will not commit to borrowing any more money, on inflated assets, because the QE hasn’t helped the real economy, only moved wealth into the hand of the wealthy. So I predict an eventual collapse, that will lead to a new monetary system. A reset of valuations of assets, and a gold standard of some sort. The economy has reached its saturation point, where real assets will remain in strong hands and paper assets will be reconciled to the real. I don’t see PM’s dropping far, if they do, and I think the world will demand real value in there money and not fiat. There is coming a day when control by government is so strong that buying and selling will only be allowed by those who have the mark of the beast, which I believe is a baptism (or identified with the world system, through a physical mark on the right hand or forehead). Who knows the time, I just trust God each day, and seek him for wisdom on what to do.
Many good points here, Don. I’ve addressed most of them in the 25 years I’ve been writing about deflation, and you can Google me to find this stuff online. I very briefly move to the hyperinflation camp, but it was only because the debate got too ugly.
For the moment, deflation is being held at bay by massive, global easing. But the unactualized juggernaut of deflation will ultimately be far more powerful than the central banks can resist. It is a black hole, centered on real estate collateral. I believe the housing crash got us only halfway to a bottom, having predicted for years that prices would fall by 70% (and more in the vacation home market). I foresee ruinous deflation giving way to hyperinflation, but the mechanism will depend on whether the Guvmint tries to bail out state and local pensions. I’ve got to leave my office for now, but I hope we can continue this thread.
Seems like for the last 25 years you’ve been wrong on that deflation call.
Check the library periodicals guide or lexis/nexis and you’ll see that I was the only person writing about deflation as early as 1992. (A Forbes columnist, Ashby Bladen, mentioned deflation in passing; and agricultural forecaster Bill Helming talked about it, but only in the context of farm prices.) I was alone on the economic lunatic fringe back then, writing about a threat that not one economist in a thousand would have conceded was possible. However, after the 1997 crash of the Thai baht, others started to see the possibility of ruinous deflation, even amidst a global credit blowout. Bob Prechter became the world’s foremost expert on the subject of deflation, mainly because he had the imagination to see things in ways that holders of PhDs in economics never will.
Far from being wrong for 25 years, I was among the first to see deflation coming – to see it as inevitable, actually. My error was in failing to imagine that the potentially deflationary sums associated with Third World Debt (about $700 billion), and with the S&L Crisis ($350 billion), were piddling in comparison to the deflationary black hole represented by today’s quadrillion dollar derivatives market.
My epiphany concerning the likelihood of deflation came with the publication of C.V. Myers’ 1976 book, The Coming Deflation. One simple idea in that book can tell us everything we need to know to fully understand deflation — to predict its course, even. In the end, Myers wrote, every penny of every debt must be paid — if not by the borrower, then by the lender.
This may seem elemental, but the implications are easily missed. Even the late Kurt Richebächer, a renowned economist, failed to see the possibility of deflation emerging from a global credit blowout. Like all of his Austrian School colleagues, he was unable to parse this seeming paradox. I followed his writings very close and even interviewed him for a column that I freelanced in the late 1990s to the Sunday San Francisco Examiner. Although the word “deflation” was in his vocabulary, his thinking became conflicted and confused when he wrote about it. It is therefore no surprise that there are still quite a few hyperinflationists around despite the fact that Japan, and now Europe, are in a deflationary bogs up to their chins.
Apply Myers’ dictum and you will see, among other things, that: 1) we haven’t gotten rich merely because home prices have inflated; 2) pension promises to public-sector workers will bankrupt us before anything else does; 3) there is no monetizing this grave problem away; 4) hundreds of trillions of “stimulus” dollars injected into the financial system by the central banks represents borrowing that will have to be repaid at some future date – either by deflation (more likely by far in my book), or hyperinflation. (For the means to calculate the odds yourself, I highly recommend “The Great Reckoning,” a 1992 book by James Davidson and Lord Rees-Mogg).
I could see that.
excellent post don
If they [ Dent ] is predicting 750 Gold wont that kill the mining bussiness. Just asking
Greg; copied/pasted from a private comment-er on my e-mail
I will say this much about the Germany-Argentina connection discussed and then the paragraph about the Eisenhower Death Camps near the end of WWII. Both of these are accurate and true. I was an exchange student in Germany at the University of Bonn 1972-73. Bonn at the time was the capital of West Germany (BRD). I stayed with a family whose patriarch, Hermann Becks, was a German-born who had an Argentinian passport. It was not considered unusual at the time. The South America-German connection dates back to the 2nd Empire (Kaiser Wilhelm I) when Germany was a Johnny-come-lately to empire acquisition/expansion. Also, the Eisenhower Death Camps were a scandal suppressed by the USA government and the press, as I learned of these when I was over there, and every German of WWII age confronted me with it. Of course, I had no idea of it and was totally stunned at the idea of it, even denied it at first, until it became so overwhelming as to not be able to be denied. I have since told many people about it, and now that we have the internet, a simple Google-search of “Eisenhower Death Camps” will reveal the whole story. Also, a guy named Hans Schmidt wrote about his experience in one of the camps in his autobiography “Panzergrenadier”. I do not agree with Schmidt in all of his conclusions, but he his right about Eisenhower, sad as I am to say. Once you see what the government is capable of, you no longer can categorically dismiss the other things decent and intelligent, knowledgeable people are putting out. It is dismaying to say the least.
JP Morgan understands that the next time silver’s short supply reaches critical levels, it will be in the midst of the greatest financial crisis that any living person will have witnessed.
The renewed stacking in silver by this financial behemoth is a reminder that silver is of the utmost importance to the powers that be, and if JP Morgan Chase:
The most well-connected, financial crooks on planet earth…
The “insider of insiders”…
The very market execution arm of the Federal Reserve itself…
Finds it utterly necessary to take delivery of every last ounce of silver that it can get its hands on…
Then so do I, little old Gert!
It may not be that the cheats and liars are finding it utterly necessary to take delivery of every last ounce of silver that it can get its hands on……it may well be that that is the impression they want folks to have. I don’t believe any piece of info that they touch given their track record for habitually distorting anything for an advantage.
Hi Greg,Great interview with Rick.
Any chance you could get David Stockman?
Frank,
Working on it. I have had him on before and he’s a good choice form a guest. Thank you!!
Greg
David Stockman recently ran an essay of mine at full length on his web site. He said that although he disagreed with my bullish outlook on T-Bonds, he agreed with everything else I’d said. Here’s the link:
http://davidstockmanscontracorner.com/author/rickackerman/
From Infowars: Report: JPMorgan Chase Bans Storage of Cash in its Safety Deposit Boxes
http://www.infowars.com/report-jpmorganchase-bans-storage-of-cash-in-its-safety-deposit-boxes/
Elite trying to get rid of cash… Move everyone to plastic to track every persons transaction….
Dear Mr. Hunter,
On the one hand, Mr. Ackerman has agreed with your hypothesis that, “There are no markets, just manipulations.” But on the other he asserted that the, “Deflationary juggernaut is responsible for gold’s bear market.” These two positions seem irreconcilable: if the gold price is determined by one or more entities that manipulate it to serve their perceived interests, then deflation does not determine the price of gold; but if deflation is responsible for gold’s bear market, then manipulation does not determine its price.
Given the strong evidence of gold price manipulation which in the past few years has repeatedly suppressed its price, we can have no idea how much higher it would be in the absence of such manipulation. But it is also apparent that it would be significantly higher without such influences. The critical issue, therefore, is: when will those interfering in the market either choose to refrain or lose the ability to do so?
See: Howe vs Bank for International Settlements, et al, — in one hearing a U.S. attorney got up and said that the U.S. government claims the power to secretly rig the gold market (and for that matter all financial markets). That’s public record. The assistant U.S. attorney got up in support of the government’s summary judgment motion and said that while the U.S. government did not admit doing anything that the plaintiff complained of (manipulating the gold price), the U.S. government claimed the power to do everything that the plaintiff complained of as authorized by the Gold Reserve Act of 1934, as amended in the 1970’s. Howe lost. Lesson: They can and will do anything with the gold price that they wish.
The incipient power of deflation has pushed gold down, not a “deflationary juggernaut” that has yet to implode.
Honestly, what asset class besides gold and silver has “deflated” over the last 7 years. Then name me an asset class that has “deflated” over the last 25 years. Can you guys just put up or shut up already?
You seem not to have noticed that it is our very way of life — the Middle Class dream– that has been deflated away.
Why do you think two parents, both with professional incomes, have to hock their homes to put a couple of kids through college? And, do you believe that the $1.2 Tr student loan bubble, and numerous others, will not have to be deflated away to pay their cumulative costs? Most deflated-away-of-all, and easiest to recognize, is the Baby Boomers’ retirement.
I’m guessing that you did not grow up in the 1950s, when households were able to pay not only for college, but for health care and other things, without going deeply into debt or having to buy exorbitantly priced insurance. Oh, and they were able to put aside savings as well.
What deflation, you ask? It’s in your face wherever you look.
Yes living standards has dropped significantly. Yet you have not answered my question. What asset class has fallen in the past 25 years? Where is the deflation in NOMINAL TERMS. NAME ME ONE ASSET THAT CLASS THAT IS CHEAPER NOW THAN IT WAS 25 YEARS AGO!! YOU CAN’T!
So I ask again, where is the deflation in the last 25 years?
And clever sophist logic using the word deflation in an entirely different context. Deflate middle class dream? Sad fact, but not deflation.
The ‘strong dollar’ is only (1) major, or a few minor U.S. foreign policy aggressions away from being not-so-strong. Such is the non-U.S. centric reality of the rapidly changing scope of geo-economics. When you’re stuck on ‘King $Dollar’ however, these realities are impossible to see.
I’m more confused than ever! Perhaps hard assets are prudent to own right now. I want my lifeboat in realtime…not on order.
In very hard times, Ulrich, nothing tops farm land in the asset pyramid. Germans who borrowed up to the hilt to buy farm land just before the 1921-23 hyperinflation took off were able to pay back their loans in full with the proceeds of just the first harvest.
Wow, two losers in a row ( Dent and this guy) better up your game Greg. these guys are both idiots and don’t have a clue how it’s all gonna come down, but they are happy to charge people to buy their “fortune selling” tales to make a buck. the system will collapse for sure as the PTB want to destroy the US and the whole world. But it will go down when Jacob Rothschild is ready to do it and nobody outside that circle knows the time , or the plan. Right now bashing gold is a good game as the PTB will pay you well for saying it, if you say it well you might even get a spot on CNBC and collect a few bucks for your lies. most all of the “gold” experts are now on the FED payroll, I suspect these two are as well. as a drop in gold price is inconsistent with both of the rest of their conjectures.
Time to get Paul Roberts back on . that guy KNOWS what is going on , at least as well as anyone can in the big casino environment. he doesn’t just look at worthless charts like these two dummies , he has a full understanding of geopolitics , government corruption, decay of society etc. etc. which allow his predictions to carry more weight
Sorry Greg, I’m with Jack on this.
We can learn much from people with a different perspective. If all we heard in these interviews was what we already thought we knew, there would be no point.
Deflation is a problem (for some it’s a good problem), but deflation precedes hyper-inflation, so just because we have one doesn’t mean we won’t eventually get the other. Use this deflation as you can to prepare for the coin to flip. Read: https://gold-forum.kitco.com/showthread.php?93752-Deflation-Precedes-Hyperinflation-Long-Answer — It’s a 4 year old thread and still active.
BTW, as he posted above, Rick Ackerman holds gold coins (which he’s not selling), but his $810 price target is for COMEX gold. I have no problem with that, it’s the reason I closed my leverage account. If/when gold gets to $810, no one with physical will be selling. Personally I think the bottom is in and gold goes up from here, but I don’t know the bottom is in. The lower price targets seem unrealistic to me, but a few years ago I thought sub-$20 silver was never going to happen.
there is no silver available in size at these prices, so technically the bottom was in probably around $20. try to go buy 10k ounces of silver and see how long it takes to get delivery. I see Ackerman’s STRONG …”only game in town” dollar is getting pummeled today .
Russ … thinking about what you just said “We can learn much from people with a different perspective. If all we heard in these interviews was what we already thought we knew, there would be no point” … Is this the reason God created the Devil?
Jack, I don’t fancy being called a dummy, especially by a horse’s ass. Your mention of Rothschild says exactly what kind of horse’s ass, by the way. Over and out.
Hmmm . seem to have struck a nerve here. I guess you believe that Rothschilds, Rockefellers and the other NWO banking families who control about 40% of the world’s wealth have no influence and no agenda???? How about the British Royals????? How about the boys at the BIS? I didn’t call you a dummy , I just think that your thesis is dead wrong and I’ll bet most of Greg’s readers will agree with me. Now you resort to name calling, because most of Greg’s readers have called you on your thesis . My advise would be to go pollute another site where the readers are more sheep like, Greg has THINKING people on his site, and they aren’t afraid to call B.S. when they smell it!!!!
Israel’s first Arab newscaster has a message: ‘This is not your country. This is our country.’
Daniel Estrin, PRI’s The World
34 minutes ago © Courtesy of Lucy Aharish During Israel’s Olympics-style Independence Day spectacle on Wednesday, 14 Israelis will participate by lighting torches. They were all chosen in recognition of their extraordinary contributions to the country, but one torch bearer stands out from the rest: the first Arab Israeli newscaster in the country’s history.
Lucy Aharish anchors an English-language evening news show on i24news, Israel’s 24-hour cable news network. She also hosts a Hebrew-language talk show on Israel’s biggest TV channel, moderating a panel of Israelis debating the burning issues of the day.
Yet even as a state committee is honoring her at the torch lighting ceremony for promoting coexistence on the airwaves, her inclusion has caused a tempest; See Below!
http://www.msn.com/en-us/news/world/israels-first-arab-newscaster-has-a-message-this-is-not-your-country-this-is-our-country/ar-AAbvUX2?ocid=U305DHP
Rick ?
Do you like Texas Permanent School Bond Fund?
Don’t know anything about it, Diane, but if the source of payments looks rock-solid, then go for it. Generally speaking, the longer the maturity date, the more leveraged your bonds will be to small changes in interest rates. If T-Bonds were to hit my long-term target of 1.63%, capital gains would likely exceed 40%.
Or, perhaps the peoples of all countries of the world will finally get pissed off and collectively lynch the mighty “PTB”. Sell raffle tickets to win a chance to trip the trapdoor. That would raise plenty of cash.
http://www.voltairenet.org/article185860.html
Pertains to incident aboard the USS Donald Cook in April 2014 when approached by a Russian Su-24 while conducting Black Sea maneuvers.
Was wondering if anyone had further information, not published by the MSM.
In other words, through the grapevine.
The fallacy that people are fallin for is that there is going 2be a solution in the short.Are you in tune with your Prophetess Geraldine Fisher?YAHUSHUAH will come back like a thief(kill,steal,destroy).When YAHUVEH says until my wrath is spent,He is not smilin.
worldministries.org/america
People have sat on the same Judgement seat with God n He is just laughin back.1cor4:5 and you will fully get it that He is a God of all Nations;all who were upright and just in executin His mandate.Job19:25,29
Greg,
I am still scratching my head over the comment made by RA…..”The Dollar is responding to Economic Fundamentals” when talking about its so called “Strength”……WTF….!!! What ECONOMIC FUNDAMENTALS is he referring to ? That the rest of the Globe is in dire straits/ suffering depressions across several continents/ exposed to civil unrest or militant terrorist groups/ worse off ..than the USA !!
He didn’t get to the root cause of the so called strong dollar…..which seemingly came out of nowhere…..hmmmmmmmm!!!!! …and will keep going until its reaches the Magical 120….(HD sees the same number in his crystal ball).
Cast your mind back to Oct. 14 when the DXY was down around the 85 level. This is in the midst of the Oil price plunge which btw was also @ $85/bbl. By end of Jan 15 the dollar was up around 95 whilst Oil had plunged to $50. In the meantime what was happening in Europe and Middle East (QE and War). With the Banks shutting down their commodity trading desks ….(saying we’re not playing anymore….we’re taking our cash and going home)…..exiting EM’s big time……who was left to hold up the curtain ? The EURO dives and USD climbs the staircase…..simple supply and demand ….one is the mirror opposite of the other. This is an extreme move however and there is much more going on in financial markets than is being alluded to. Exhibits: 1) Foreign holdings of UST being sold (Russia) 2) China ceasing to buy further issuances of UST whilst reducing their already overblown allocation to UST 3) Massive unwinding of carry trades from the Thieves in London and NY 4) Massive losses suffered through the interest rate swap derivatives bomb that was exploded.
The Stock Market is an ILLUSION and so too is the DOLLAR STRENGTH…. upon which it is based.
“Bonds are in a holding pattern” …….NO……they are painting the picture for everyone to see. All Central Banks are bankrupt and the TBTF Banks are Illiquid and have ZERO collateral left. They have all suffered enormous derivative (interest rates) and reverse carry trade losses which is being intentionally hidden. Any talk of Bond yields is false just like the yields themselves.
There is no where for the CB’s to go. They will continue to force interest rates lower (creating new collateral for the Banks to continue to play Derivatives) …otherwise we have Armageddon….. and it will be over in an instant.
RA is a trader…an opportunist. The dollar’s path is determined by carry trade and UST bonds broken market /cycle. The expectation would be that if they can hold it together (unlimited QE – Bond issuance) then one could expect further appreciation of the Dollar against ALL fiat currencies.
One serious flaw with all of this assuming…..is to discount the potential for CHINA/ RUSSIA to pull the plug…… and then does the inconceivable and converts its UST holdings to GOLD and then RESETS Gold much…MUCH…Higher.
I’ll stand by my charts. Concerning what is driving the dollar higher, you seem to have missed the main point of my interview with Greg. It is this: the dollar is in the early stages of a short squeeze. Perhaps you’d need to have worked on a trading floor, as I did for twelve years, to understand the dynamic of a short squeeze. But “fundamentals” it is not.
Refer my comment above re: Charts!!
I have more than 20 yrs experience dealing with Fiat Currencies and International markets.
I’ve got 20 years on you, Golden, since I’ve been doing it for 40 years.
Silence is Golden.
I concur. I say if Rick Ackerman is sure about the moves upward, lets put in writing on a contract with a guarantee. I know many investors who would jump on that one, myself included. Somehow I don’t think that’s going to happen. How about it Rick?
Get real, Jerry. You know perfectly well that there are no guarantees in this business. Visit my web site and talk to my subscribers in the chat room if you want to know what my reputation is and how accurate my forecasts have been.
I really wish Americans would stop talking in terms of seasons! Don’t they know that NOT the whole world is on the same page? Just say the damn months they’re referencing please. VERY rarely here in Australia would you hear anyone saying “this will happen in Autumn” Just say the months you mean ferr Chrisssakkkeess already!!!
Oh, great interview BTW Greg!
Visited Sydney one December and I must say the hot weather took me by surprise. You guys are also a day ahead of us Yanks, which should give you a tremendous advantage when trading stocks.
well said Jack. Couldn’t agree more. Wonder who is on deck for the next interview? Warren Buffett ??? Charlie Munger???
Greg,
Best guest and interview ever!!! And I don’t want to forget the comments also. I listen to a lot of people in this business from Harry Dent(great idea of demographics trends) but wrong to much on interpretation. Peter Schiff, Martin Armstrong, to many to name. Rick is the most well informed and well read. He good at making calls and he’s nimble. If thing change he changes too. If I had more money and I was to pay for someone advise, it would be him. He’s honest and he knows his stuff.
But I am a simple guy now, I use to invest in the markets but you can’t trust their numbers any more then you can trust the governments, so how can a regular guy invest?
So what I do is just buy gold and silver. My thought was stay half in dollars and the other half gold and silver. One go’s up the other go’s down. But I like his idea of getting some insurance for the metals , I’m guessing dust 3x bear in gold and dslv 3x bear in silver.
Thanks Rick and Greg. I’m sending this one to all my family and friends.
Thanks for your kind words, Greg. I don’t manage money, I only trade it. For your interest, the smartest financial adviser I know is Doug Behnfield, who’s with UBS in Boulder. He has produced extraordinary gains for his clients in five of the last six years simply by understanding deflation. Can you guess what asset class he favored?
Excellent tour of the Bundesbank Money Museum in Germany (a walk through monetary history) with commentary by Mike Maloney
http://hiddensecretsofmoney.com/videos/episode-5
Does Any Nation Hold the Gold It Says It Does? http://www.mineweb.com/news/gold/does-any-nation-hold-the-gold-it-says-it-does/
GATA Alasdair Macleod: Gold, the SDR, and BRICS
http://www.goldmoney.com/research/analysis/gold-sdr-brics?gmrefcode=gata
Report: Man-made earthquakes shake over a dozen areas in US
By ALICIA CHANG, AP Science Writer
2 hrs ago
Scientists are sampling cave’s in Indiana for a study on ancient earthquakes.
Traces of Ancient Earthquakes Are Hidden in Cave Rocks
Oklahoma Geological Survey seismologist Amberlee Darold installs a seismometer in southwest Oklahoma City, OK on January 26, 2015. She and other seismologists track earthquakes in effort to resolve a complex question. Is the dramatic uptick in earthquakes in their state related to oil and gas exploration? And if it is, what can be done to stop it without shutting down one of the state’s largest economies? Lawsuits are making their way through the system alleging that injection wells, used to dispose of waste water byproducts of drilling and fracking, are causing the earthquakes. Billions of dollars are at stake as homeowners seek compensation for property damages and in some cases minor injury. © Linda Davidson/The Washington Post/Getty Images Oklahoma Geological Survey
LOS ANGELES — More than a dozen areas in the United States have been shaken in recent years by small earthquakes triggered by oil and gas drilling, a government report released Thursday found.
The man-made quakes jolted once stable regions in eight states, including parts of Alabama, Arkansas, Colorado, Kansas, New Mexico, Ohio, Oklahoma and Texas, according to researchers at the U.S. Geological Survey.
Experts said the spike in seismic activity is mainly caused by the oil and gas industry injecting wastewater deep underground, which can activate dormant faults. A few instances stem from hydraulic fracturing, in which large volumes of water, sand and chemicals are pumped into rock formations to free oil or gas.
“The hazard is high in these areas,” said Mark Petersen, who leads the agency’s national mapping project.
Oklahoma lately has been rocked by more magnitude-3 quakes than California, the most seismically active of the Lower 48 states, Petersen said.
Oklahoma was not on scientists’ radar until recently when the state experienced a spate of quakes, the largest registering a magnitude-5.6 in 2011. Earlier this week, the Oklahoma Geological Survey acknowledged that it is very likely most of the recent shaking is from wastewater disposal.
Many faults awakened by drilling have not moved in millions of years, Geological Survey geophysicist William Ellsworth said.
“They’re ancient faults,” Ellsworth said. “We don’t always know where they are.”
A group of experts met last year in Oklahoma to pinpoint seismic hotspots around the country caused by induced quakes. Scientists initially identified 14 regions affected by quakes linked to drilling. They later added three other high-risk areas — northern Oklahoma-southern Kansas; Greeley, Colorado; and Azle, Texas.
Seismic hazard maps produced by the Geological Survey and used for building codes and insurance purposes don’t include quakes caused by the oil and gas industry. Scientists said it’s difficult to know what jobs will trigger shaking.
Researchers study man-made quakes in the affected areas to determine how often they are expected to occur in the next year and how much shaking they would produce.
http://www.msn.com/en-us/weather/topstories/report-man-
made-earthquakes-shake-over-a-dozen-areas-in-us/ar-AAbyupU?ocid=U305DHP
Does God Really Care About Us?
“”There will be great earthquakes, and in one place after another pestilences [disease epidemics] and food shortages.” (Luke 21:11) That well fits events since 1914, as there has been a huge increase in the distresses from such calamities.”
But this is future friends so hold onto your hats!
Rebuttal found That Makes Sense !
From the article, Why Haiti’s Quake Toll Higher Than Chile’s by Colin Stark;
“About six weeks ago, a large earthquake devastated Haiti and killed over 200,000 people. Saturday, a huge earthquake releasing 500 times more energy, devastated Chile and killed hundreds.
So why did the smaller earthquake kill so many more people? And why the sudden spate of disastrous earthquakes in the Americas? No, the apocalypse is not coming. No, the two earthquakes are not linked in any way. And no, Pat Robertson, you can’t blame the Devil or the French. The real answers, for those comfortable with science and the Enlightenment, are tectonics and poverty. …
Over millions of years, this tectonic squeezing has formed the Andes and raised the high desert known as the Altiplano. Elsewhere it has created the Alps, the Rockies, the Himalayas, and Tibet. It has also created and distorted some of the islands of the Caribbean, including Haiti.
So that’s why some parts of the world suffer from big earthquakes that strike with irregular frequency, while other regions are seismically quiet: it all depends on where the plates meet and how fast they are running into each other. …
Poverty is what ultimately kills most people during an earthquake. Poverty means that little or no evaluation is made of seismic risk in constructing buildings and no zoning takes place. It means that building codes are not written, and even if they do exist they are difficult, or impossible, to enforce. … Haiti is a tragic illustration of this. Weak building materials and poor construction standards share much of the blame for the grotesque numbers of fatalities, injured and internally displaced people.” cnn.com 28 Feb 2010
Deceptive Reasoning?
IF Poverty is what ultimately kills most people during an earthquake, keep stacking, the wife you save may be ur own!
If the Dollar index breaks 100 it will be time to start planning your dream trip to Europe. If it hits 120 while you’re there you will get plenty of bang for your buck. Ciao.
Be careful what you wish for, Thaddeus. This is going to be a very different world if and when the Dollar Index hits 120 — and I don’t mean good-different.
Can’t say that will be the beginning of the END…because we are already on that road….its name is RUIN !!
There’s more ruin in the nation than any of us might have imagined, pre-Obama.
Wal-Mart store closure follows labor activism
Los Angeles Times Michael Hiltzik, 5 hrs ago
It’s certainly possible that Wal-Mart is temporarily closing five stores, including one in Pico Rivera, Calif., “due to ongoing plumbing issues that will require extensive repairs,” as it claims.
It’s possible that the Pico Rivera closure, which will cost the jobs of more than 500 employees and will last six months to a year, isn’t part of an effort to punish workers who have been at “the center of concerted action by Associates to improve the wages and working conditions of all Walmart Associates around the country,” as the workers asserted in a complaint filed Monday with the National Labor Relations Board.
If so, however, there wouldn’t be so many questions about Wal-Mart’s repair plans. Why hasn’t the giant retailer applied for building permits for the work? Not at Pico Rivera, nor at any of the other four stores — two in Texas and one each in Florida and Oklahoma, according to a Tampa, Fla., TV station. Why, of the list of 50 “plumbing issues” Wal-Mart provided to The Los Angeles Times dating to July 2014 for the Pico Rivera store, were half identified as “non-emergency” problems such as leaky urinals and broken toilet handles?
Why weren’t problems fixed when the store underwent a recent $500,000 refurbishment — during which it didn’t have to be closed — that included the restrooms and the grocery department, according to papers on file with the Pico Rivera building department?
Or, if the plumbing problems were so severe that the building has to be completely closed until Christmas and possibly beyond, why didn’t Wal-Mart say anything about it until April 13? On that day, according to Venanzi Luna, an employee at the Pico Rivera store, managers called workers to a meeting at 1 p.m. to inform them the location would be closed as of 7 p.m.
The other stores were closed with similar suddenness. No advance warning to customers, to the communities or to the employees.
There’s more. . . .
http://www.msn.com/en-us/money/companies/wal-mart-store-closure-follows-labor-activism/ar-AAby93q?ocid=U305DHP
Maybe, rather than listening to all these people and their opinions on what could happen, it would be a better use of time to read about & t.f. prepare according to what was done when a currency collapsed. (History repeats itself, more or less) I’m referring to the Weimar collapse. This article seems to show some very strong similarities to what we are facing (I found the comment from Keynes’ book to be a joke considering…) http://en.m.wikipedia.org/wiki/Inflation_in_the_Weimar_Republic.
To repeat: Read Adam Fergusson’s “When Money Died” to understand why a Weimar-style hyperinflation is impossible in the U.S. It contains better information about what actually happened in Germany between 1921-23 than 20 bazillion web pages.
Rick,
I agree on that point.
I need to get in touch with Adam…I figure I am due a royalty stream from his sales over the last 2-3 years.
When I read it several years ago….I stood in awe….that was the most complete factual account of a hyperinflation I had ever read. I suggested the book on several websites (like this one) and it got noticed by some very well respected people who in turn repeated the call. I smile whenever I see someone mention the book….as a reference…. 😉
A fascinating book, for sure. The stunner about German potato farmers that I cited above comes from Fergusson.
No Mr. Ackerman, hyperflation can happen in our Western society
society just like it did in the Weimar Republic and for the same possible reasons, one being the collapse/corruption of the govt and society. This is what is occuring in the U. S. now. Its the arrogance of the self proclaimed financial experts who write books and have websites and claim they have the best ideas of what is going to happen, that tell me not to waste my time listening to them. Their ego is a barrier to real knowledge and wisdom, which is what I am in pursuit of gaining.
Greg, How about our “Justice” system. Teachers in Atlanta get 7 years in prison for cheating on tests. Bankers get nothing for cheating and causing the biggest financial disaster since the great depression!! They get bonuses and raises!! I love this country but in some ways it really SUCKS!!!
Jay,
If the teachers got 7 years then the bankers should get 70 years each for their crimes. Good point. Thank you.
Greg
[Politicians, who want the presidency] _ The Keys to Becoming Just, Not Just Greedy
OUR Creator wants us to be happy, to enjoy inner peace, and to contribute to the happiness of others. Hence, he asks us “to exercise justice and to love kindness.” (Micah 6:8) How can we do so? We need to cultivate qualities that will dispel the traits that foster injustice. Consider how the Bible can help us do that.
OVERCOMING GREED. The most powerful weapon against greed is love—not mere sentiment or romantic attraction—but self-sacrificing love for others. Such “love is . . . kind,” and it “does not look for its own interests,” says 1 Corinthians 13:4, 5. Moreover, this love does not limit itself to family and friends. “If you love those loving you, what reward do you have?” asked Jesus, adding that even the ungodly love those who love them.—Matthew 5:46.
OVERCOMING PREJUDICE. Acts 10:34, 35 reads: “God is not partial, but in every nation the man that fears him and works righteousness is acceptable to him.” God does not provide salvation on the basis of race, social status, or gender. In his eyes, “there is neither Jew nor Greek, there is neither slave nor freeman, there is neither male nor female.” (Galatians 3:28) When we imitate God, we overcome prejudice. Consider the example of Dorothy, who lived in the United States.
Dorothy became so disturbed by racial prejudice that she wanted to take part in an armed insurrection to relieve the suffering of oppressed black people. During that time, however, she attended a meeting of Christian’s and was deeply impressed by the warm welcome she received from both blacks and whites. Before long, she came to realize that only God can change people on the inside. When she experienced the genuine love of white Christians—people she said that she “would have killed without hesitation to further the cause of a revolution”—her heart “was warmed” to the point that she cried uncontrollably.
OVERCOMING ANTISOCIAL ATTITUDES. Before becoming Christians, some of Jesus’ early followers had been drunkards, extortionist’s, revelers, and revilers. Yet, with God’s help they replaced those negative traits with love, kindness, and goodness. (1 Corinthians 5:11; 6:9-11; Galatians 5:22) Likewise today, millions of people have made wholesome changes in their lives by turning to God.
Firuddin, from Azerbaijan was raised in an orphanage, where he often fought other boys. As an adult, he became an instructor in hand-to-hand combat. “I was rude, cruel, and violent,” he says. “If during mealtime my wife, Zahra, forgot anything—even a toothpick—I would beat her. And if anyone looked at her as we walked together, I would do the same to him!”
One day, Firuddin’s heart was touched when he learned that Jesus asked God to forgive the soldiers who impaled him. (Luke 23:34) ‘Only the Son of God could act that way,’ he thought. Thereafter, he began to search for God. When a Christian offered to help him, he readily accepted a free Bible study. Before long, his personality began to improve. Indeed, he became so kind to Zahra that she too began to study the Bible too!Today both are peacefully united in their marriage and worship.
Of course, changes that we may personally make will not revolutionize the entire world! What, though, if God purposes to bring about a new, truly just world? After all, he surely has the power and consider this: “1 There will be terrible times in the last days. 2 People will be lovers of themselves, lovers of money, boastful, proud, abusive, disobedient to their parents, ungrateful, unholy, 3 without love, unforgiving, slanderous, without self-control, brutal, not lovers of the good, 4 treacherous, rash, conceited, lovers of pleasure rather than lovers of God—2 Timothy 3:1-4 New International Version (NIV). We cane see that the Bible clearly foretold what people in general would be like during our time, That prediction has been fulfilled to the letter—as have many other Bible prophecies. We are not casting good sense aside, therefore, when we take seriously God’s promise to end all injustice. Indeed, God will achieve that purpose, soon enough!
HEIDE’S QUEST FOR JUSTICE; “I was upset with racism, wars, poverty, and other injustices, and I was looking for a solution,” recalls Heide, who lives in the United States. “I tried to work with the civil rights movement and eventually joined a political party, but these seemed unable to effect meaningful change.
“I felt that a more radical change was needed, and the hippie movement seemed promising. Yet, that too proved disappointing. I observed that many hippies were more interested in sex, drugs, and rock and roll than in changing the system—a realization that threw me into a deep depression. Then I met a Christin. She showed me from the Bible the changes that God purposes. For example, she pointed to such scriptures as Revelation 21:3, 4, which says that God will wipe the tears from all faces and eliminate mourning, outcry, and pain—often the results of injustice. ‘Could those promises really be true?’ I asked myself.
“My doubts cleared up when I read what the Scriptures say about God’s power and love and when I experienced the love of Christians. not just rice Christians. I now eagerly await the fulfillment of God’s promises.”
Prejudice is conquered when we imitate God’s love and the friends on this site! Love ya all!
You know what … I think Rick is really one of us … he owns gold and won’t sell it even though he knows it will be falling lower (just like us) … he foresee ruinous deflation and a collapse of the economic system where the banks could close in one day (just like us) … and sees things giving way to hyperinflation when the government tries to bail out the entire system (just like us) … he feels the US dollar will retain some value in a crash but only because he thinks the general public are idiots and will accept worthless dollars at least for awhile … and most important he believes gold is money (but just thinks it will be too valuable to use for money as everyone will be hoarding it.
I vote to make him an official WatchDogger. What say you all?
Greg! This is why this site is absolutley the BEST site on the net!! this is what is missing from other sites DISSCUSION!!!! Rick, here is my 2 cents!!??? when the crash happens it seems that the person who has his own printing press (computer) will print The “money” that the safeway clerk will take… thus in the end only metals well be trusted after awhile (and than we’ll have to worry about that). No one really knows how this is all gonna play out.. WE all have to watch out for private murphy (as In murphys law) be ready for anything prepare as your heart tells you, Help other when you can..KEEP IT UP GREG!!!!!!
Thank you Robert. It was also very good of Rick Ackerman to come on and answer questions and give further analysis.
Greg
The pleasure was all mine, Greg. Thanks again for the opportunity to connect with your audience.
RA,
What do you think of dividend paying stocks. Strong ones like Cocoa-Cola? Always wondered about this. (Hope you see this)
Thanks
Coca-Cola is a dying icon. Many became millionaires owning the stock, but I doubt we’ll see many more. Coke’s response to consumers’ increasing aversion to sugar is to increase its advertising budget by more than a billion dollars.
Concerning dividend stocks in general, it should be a secondary consideration, behind price performance. If a $65 stock falls just $2 in a year, it has negated a 3% dividend. Better to create your own ‘dividend’ with judiciously timed covered writes.
Agreed. Good on ya, mate!
Thanks to Rick for coming on and taking some stick,but at the sametime being gracious with his time and knowledge well done mate!!
Thank you, Jeff. I’m grateful to Greg Hunter for allowing me to share my thoughts at USA Watchdog.
Thanks for coming on Rick…
I have book marekd your site, and and considering taking your course. Extremely informative.
One last thing, when this next 2nd Great Depression comes what happens to: 1) Government functioning 2) Social Security payments 3) EBT debit cards?
Hope you see this.
Thanks
remember to keep twice as much cash in that shoebox. after the great devaluation of the USD you will need it…to start. the pressure to devalue will come from the international community who are sick and tired of handing over real goods for an increasingly worthless dollar.
people take comfort wearing the cleanest shirt in the hamper, but the funk remains. this is all headed to a reset, and the USD will suffer terribly. the laundry will finally get done, and the playing field somewhat leveled. and of course the largest debtors will get the most shaved off, as it should be.
Rick, I’m with Jack. I think you must be working for “them.” And, don’t think so highly of yourself, he didn’t call you a dummy! Read it again, the word was ‘idiot’. Rick, you are a smooth talker, but I think you have a hidden agenda. But hey, it’s entertaining.
I work for myself, Mack, and the main item on my “agenda” is to be a good husband and father. Concerning you and Jack, I don’t care what you think of me, but you insult your host when call someone an “idiot” and a “loser” in here. If you’ve got any class, neither of you have displayed it in this forum.
Rick, I sold the dxm5 earlier in the week at 97.35. I currently have a break even stop in play. I think the dx looks more bearish now than at any time in the past couple years. Time will tell.
Take a look at the dollar on a monthly chart, Brew. This is the first correction in nearly a year, and it doesn’t look like much on the longer-term charts. Even on the daily chart, the entire selloff has yet to breach a single low recorded on the way up.