Global Economy is Imploding-Michael Pento
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Money manager Michael Pento thinks the global economy is terrible. So, will the Fed still raise rates soon? Pento contends, “The global currency situation will actually go into hyper-drive if the Fed follows through and goes on this protracted rate hiking campaign. Wall Street is a myriad and plethora of myths. . . . One myth that is out there today is the Federal Reserve may go and do a ‘one and done’ rate hike. Where has that ever been done before? Previous rate hikes have been about 300 basis points (or 3%). The last one was 425 basis points. . . . The Fed wants to be at 1.6% by the end of 2016. The only reason why they won’t get there, and I don’t think they ever will get there, is if the global economy continues to collapse. By the way, that is exactly what is happening. The global economy is imploding. Our clueless and feckless Federal Reserve is fighting inflation. . . . There is one area of inflation and that is asset prices. That’s where all the inflation has gone. The real battle is the global collapse of commodities. Commodity prices are at panic lows and even lower. We are having a global implosion of growth because China is no longer a sustainable communist regime.”
Pento also contends China is in financial trouble, and that means the rest of the world is in deep trouble too. Pento explains, “Global debt is up to $200 trillion. China’s debt alone, since 2007, is up 300%, but this kind of debt that they raised wasn’t debt they raised from the private sector. It came by government edict. What was this debt for? It was to build empty cities, to build airports without planes, to build bridges without cars. These are unproductive assets. This is why the debt to GDP ratio is not only skyrocketing in China, but it is skyrocketing all over the globe. That means Japan, Europe and, yes, even the United States. There is no delinking, and China is responsible for virtually all the global growth since the great recession in 2008, and now that demand is collapsing. That’s why you see Brazil, Russia, Japan, Europe, and Australia either in recession or growing with a 1% handle.”
On stocks, Pento warns, “The market is extremely overvalued. If revenue and earnings growth is negative, if global growth is falling, if U.S. growth is falling, if margin debt is at a record high and cash is at a record low, and the only thing we had going for the markets is trillions of dollars in QE and 0% interest rates, and now we are going to lose that. Why would anybody think the stock market is going to hold up very well? I think the stock market crashes, and I think it is going to be the same thing that happened in 2007. As the stock market goes, so goes housing and so goes the economy. It happens over and over again throughout history. It will never be more so true than today.”
Join Greg Hunter as he goes One-on-One with financial expert Michael Pento of Pento Portfolio Strategies.
(There is more in the video interview.)
After the Interview:
Michael Pento also says the biggest problem facing the world is outlined in his book titled “The Coming Bond Market Collapse.” He calls it a “coming financial apocalypse” and tells readers how to “insulate themselves against the worst shocks.” To buy a copy click here. There is also free information and his past interviews on PentoPort.com.
Please Support Our Direct Sponsors Below
Who Support The Truth Tellers
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.
Greg, please do not be deceived by the economic adjustments taking place in China right now. They are simply realigning their economic delivery systems to match “Real Market Gold Backed Principles” that they are planning on using in their exchange system with the BRICS nations. This will become a reality when the China Gold Price Fix goes active.
CLR may be right about the collapse starting in Germany on the 28th of September. From what I’m hearing Deutsche Bank is a disaster. That may have been why Angela Merkel was so anxious to sign an agreement with China and the AIIB making Germany the central trade platform for the RMB in Europe way back in the Spring.
I may not be able to confirm that information, but I can promise you this. Based on the information I’ve found, the Financial Security Board is planning on doing a major restructuring of the ECB and the derivative market before the G20 meeting in November. That tells me that something big globally is about to happen before 11/15/15.
This is what is lining up.
– American Fracking Companies are getting ready to default on their loans.
– Greece’s debt default will collapse Deutsche Bank in Europe.
– The China Gold Price Fix will put an end to western market manipulation.
– China and the BRIC nations will decouple from the dollar.
– The Federal Reserve will (stupidly) raise rates 1/2 of a percent.
Jerry- I agree with you totally.
We are now in the jubilee Shemitah year. This is very powerful and came happen at anytime in many forms. Yesterday along – earthquake in southern Calif. and 2 volcanoes blew in Mexico.
Been told for years now that the financial collapse will start in the derivatives markets- an interest rate jump will implode derivatives- then the Domino’s effect around th world!
Art check this out.
This numbskull actually thinks raising the interest rate is a good idea regardless of what the jobs report is.
http://www.marketwatch.com/story/feds-lacker-lays-out-case-for-rate-hike-regardless-of-aug-job-report-2015-09-04
Greg as we move closer and closer to the collapse date, I am hearing more reports like this.https://youtu.be/Ano3u_ct_F0
I have personally confirmed this site, though I did not see the tanks he described in the video. There is a landing strip nearby that could be used to transport equipment and two major bridges that control access to all of Southern Missouri. In a U.N. style martial law lockdown scenario this would be a logical place to establish a choke point.
Americans are gullible to believe that they will be able to “bug out” as it were. When lock down occurs, its like musical chairs. You are, where you are.
That my friend is a fact that I am starting to loose sleep over. I do not like the chair I am in front of right now and would not like to have to sit in it when the music stops.
Jerry. This is why I stay in tune with the comments on this and other sites. Hopefully I will have 1 hour to get out of town. Today it is about when to get outside the cities.
This supports the statements I have made here.
http://www.scmp.com/business/banking-finance/article/1857121/cips-break-chinese-banks-global-monopoly-over-yuan-clearing
The Chinese are going to break from the dollar exchange system before the end of the year. It is refreshing to see that some countries have a plan to free themselves from their bank puppet masters. But not us. We will be in bondage all the way to the end.
greg: You snuck another interview on early? To be honest I just watch the very early part- started with China. I was informed just today about china’s massive debt and our massive debt. Do you remember when pastor Williams told us that the Congress was told in 2008 about the debt ? Pastor was told they learned about in behind closed doors. They were told not to worry- spend, spend, spend. because- we will never pay and they don’t give a crap! WHY?
I found out today the U.S. like China will spend into oblivion- without a care! Why? Because the Planet X-Nibiru is coming back soon- April 2016. The elite’s and congress
will be long gone underground. When the planet surface vaporizes, and HELL on earth happens- debt will be instantly forgiven. Before this carnage their may be other problems, but this event will wipe the slate clean. We won’t be here to bitch or complain. There is a reason why China built those un-manned cities, just like all the underground cities.. Mr. Pento is correct- but the spending is on purpose, it won’t matter in the long run!! It’s that simple!
Nibiru? so the entire planet’s surface will be vaporized and only those living in bunkers will be able to survive? Will the people in the bunkers become white albinos and start feeding on those on the surface? Wait that’s the time machine by HG Wells.
Honestly, have you thought this stuff out or are you just regurgitating the stuff people are telling you without even questioning it? I mean if the world was coming to an end next year, why even worry about the financial crisis or wars or quite frankly anything. What’s the purpose of storing food or buying gold?
CG- You tell me- why are you storing food? I get my info directly from an
astrophysicist from NASA and a retired black ops scientist- what the H do you know?
Seriously, this forum is getting a little nutty. I am stock piling food for a disruption in the supply chain. If the earth will be incinerated, then welps, guess you will be right. But then super man could fly and smash the planet x. Or maybe superman could move our planet so planet x won’t even hit us. That’s what my nasa scientist tells me. And my black ops source. And santa clause told me so too. So i guess i must be right.
Hey George,
Please be respectful. If I told you back in 2008 that the Fed would reduce interest rate to zero and hold them there for 7yu years you would have though that was nuts too. Of course that is exactly what happened. There are folks who have high level sources that comment on this site.
Greg
Actually, it was very predictable that we would be at ZIRP because the financial system requires the expansion of credit in order to function. Any contraction will collapse the system. This is why Japan is still at 0 for so long.
This is also why I’m confused as to the Fed’s motive in raising rates because it would be irrelevant since they will quickly drop it back to ZIRP regardless. Perception management possibly, to show the world that they are still under control. ZIRP or near ZIRP that will be back to ZIRP relatively quickly makes no real difference.
Sorry if I came off disrespectful, but I had to call it for what it is. There are a lot of real things in this world to worry about, that we don’t have to go off the deep end.
But even if he is correct, que sera sera. No use worrying or trying to prepare for the near extinction of mankind.
So the better question is, why are you telling people to buy gold and silver now when a year from now 99% of the population will be dead. Why have you been warning of a financial crisis, elites, Putin, etc etc when welps planet x just vaporized and killed everyone.
I mean if our leaders are getting ready to bunker down in their underground cities, why are they still warring with each other over useless pipelines and oil fields cause welps planet x come vaporize the world. Kinda alot of useless toil no?
I suggest that you take some time to read the Bible and visit some other site.
Al,
I have kept in the back of my mind every since this lunacy started…..that they are merely repeating the behaviour of a child….who couldn’t care less…and doesn’t know any better. Whether the reason is related to some known anomalous event (from the outer reaches of space) or from the fact that they really only care enough about themselves and less about the majority of the human race is really leading to the same conclusion. We have no bearing on the outcome and either way its curtains whether its man made or in God’s hands. Peace of mind is the most essential quality to cherish during this time. Being at peace with one’s thoughts and self , will bring clarity.
Dude are u feeling ok when u posted this?
Along with greater global “economic unrest” we are seeing greater global “seismic unrest” currently underway … who wouldn’t be on edge … especially with Google unblocking its “sky” program.
Al
There is a reason China built those cities. Its to provide housing for their new middle class that will be created when the dollar collapses. They have plans. We have a printing press.
As far as planet x. Will it really matter? If a planet dies, even a bunker can’t save you. All mortality has an expiration date.
Jerry- you are correct- many in bunkers(underground cities) will be in their graves already. But all major countries have built 100’s of these cities etc, some of the population will live- make it thru to the other side.
If you think I’m full of it on Planet X- google Bob Fletcher investigates. He is a government investigator who looked into this following the trillions of dollars missing from government. Many may think this is crap- do some research and find the TRUTH! Bob didn’t believe it either- now he knows the real truth! As everyone knows- we live in a worlds of lies/ a fantasy world. Many are in this fantasy way to deep.
Al
I knew about Nibiru two years ago and have even seen it on several occasions. Just keep one thing in mind. The universe is vast, and its very hard to be precise on its exact trajectory. If they’re right, we’ll never know when it hits. If they’re wrong we’re probably die in a global economic collapse anyway. Now that I have the pleasantries out of the way, the next best thing you can do is be spiritually ready. Food and water and a bunker can only take you so far.
Al. I tied this together several months ago. Not only that but I believe that nibiru planet x etc. Is absolutely biblical. I do believe revelation mentions the islands and land masses being removed from their place. I me planet x fits the description of some of the seals of revelation. But you’re right spend all you want it doesn’t make a bit of difference. Personally I’m just ready for it all to end.
Surely if there was a planet/brown dwarf coming at us, we would feel the effects by now? It is supposed to be here in 2016? Where are the effects in the solar system? in the sun? Why are there no confirmation sightings by the Hubble or the SOHO? or by observatories around the world? There have been no reported disturbances in the orbits of the planets or the Asteroid Belt, the Kuiper Belt or the Oort Cloud, so where is the brown dwarf? What direction is Nibiru coming from? And if the surface of the earth is vaporized, then how will those living underground survive if they ever come back to the surface? Do they have food and water stored for living years underground? How will they plant seeds in soil that has been sterilized by that kind of heat?
China is going to sell US bonds not just because they wish to de-dollarize, but also as Michael points out to boost the Yuan.
What many people miss is that beause the price of oil is so low, ( countries need dollars and dollar reserves to buy oil) they need FEWER dollars to buy oil so they can sell their US T bonds.
The Fed KNOWS this and WILL raise rates to boost demand for US Treasuries and the dollar. There is declining demand for US treasuries and dollars as a transactional currency because of the lower price of oil and de-dollarization initiatives.
There is not much the Fed or the US can do to reverse the trend other than launch missiles. SO…
The Fed needs to raise rates to boost the US T Bond as a RESERVE asset. Raising rates distinguishes the US bonds as interest paying vs the other sovereign bonds that pay nothing or have negative interest rates. Thus T bonds become an attractive place to park cash.
Raising rates may crash the markets, but that is also good for the Fed because it means that investors will rush to US Treasury bonds. And that is what raising rates is all about-keeping demand for US T bonds.
BTW the US CAN afford to pay the additional interest because in classic Ponzi schme style they will use the principal from the newly issued bonds to pay demand.
Can’t disagree with this, but even with increased bond rate- even to 4% the net rate against inflation is still negative. Inflation # coming from DC are totally false. They lie about everything.
I your in bonds get out ASAP-or faster. Get out of anything paper= “if it’s printed on paper
it’s only worth the paper it’s printed on”! When the collapse/crash happens- gold and silver is the only place to be. And, already these metals are hard to get/find and if you get them the mark-up now is near 40% and rising. The spot price of gold/silver is not the real price.
How will PM’s do under this scenario? Thanks… Chip
Hard to say. If the Fed signals its intentions it is not one and done after it does the first rate hike, but will continue to push rates higher, the dollar could rise and PMs fall short term.
Raising rates ultimately won’t save the dollar as the US owes too much money and the interest payments, the massive debt and unfunded liabilities will catch up with it.
They will raise rate to try and put off the day of reckoning to make the dollar look strong.
If they do it may mean a long wait for PM’s to rise in dollar terms.
Greg: Michael is sharp but anyone who uses any USG economic statistics to make a point is unintentionally misleading your audience. All should be aware of the Chapman Index which measures the prices of a basket of goods and services in 50 US metro areas. It indicates that true inflation averages about 10% per year (compounded!!!) which jibes with John Williams’ analysis. This means that we have had NEGATIVE GDP since the 2008 correction. Great recovery????
What Michael Pento didn’t mention is that the Fed’s interest rate goal is for 3.5% within 24 months … when rates rise “bonds will fall and stocks could get hit hard … all the money that comes out of these two markets will be looking for a “safe place” to hide … they can stay in cash … but QE4 (now secretly 1 trillion per month) could be jacked up many times that amount … this will make holding “depreciating cash” not a very safe hiding place … which open the very likely possibility all this cash looking for a place to hide will flow into precious metals!
Paul- you are correct! Smart man.
News Alert … the Pacific Northwest was hit with a 6.6 magnitude earthquake a few hours ago … this could be “the prelude” to the big 9.2 magnitude earthquake that is 50 years overdue to hit the region … if “the big one” hits and as I said it is past due … millions of people living along the Pacific coastline (which includes much of California) will be in “deadly danger” … those people living in this region and worrying about drinking water (because of the drought) may soon be getting plenty of water … salt water … from a 150 foot high tsunami that will wash many miles inland … https://www.youtube.com/watch?v=uqeQyz_ZiPM
Good analysis of some recent magnitude 4 earthquakes in the Pacific Northwest … that could be warning the “big one is about ready to strike … https://www.youtube.com/watch?v=jtyrYre9Et8
The tsunami created by a 9.2 magnitude quake can vary from 100 ft to 600 ft high … so Californian’s making plans to escape to “high ground” better seek out a place at least 1000 ft above sea level … the problem is reaching high ground in time … these tsunami’s can hit “within 15 minutes” meaning many are “not” going to make it … FEMA is actually “writing off” all the people that live west of Route 5!
Earthquake report of 9/12/15 … https://www.youtube.com/watch?v=qIWJ3mwsMEU … actually predicted a quake coming … and then low and behold the 6.6 magnitude quake hit!
Wow paul – a west coast tsunami coming all at a time of the shemitah.
The Shemitah or any other day … the reason every day is as good as another from now on is because “the big one” is more then 50 years “overdue” … and recent seismic activity in the region “is picking up” which has scientists in a lather saying “it can hit at any time”!
Paul- and don’t forget – Yesterday alone – earthquake in southern Calif. and 2 volcanoes blew in Mexico. These and yours point are all in the Pacific ring of fire. As Nibiru gets closer-now on it’s way in- the weather and these type events will increase and get much worse. By late November everyone will see two suns in the sky, then they will know that end days are near.
I’m told this by a scientist friend who worked in Black ops. Listen(google) Marshall Master- he has the heads up on this. The government presently is smearing him and his team- that means he’s right. The government has covered this up now for 30+ years. And don’t listen to NASA people- they are paid “pinheads”.
Al … seems Google has been under extreme pressure to unblock the portion of the sky that they have been blocking for years … https://www.intellihub.com/planet-x-just-revealed-by-google-sky-black-swath-gone-winged-disk-visible/
More doom and gloom with glaring incorrect information.
I live in the PNW and I can assure you there was no earthquake yesterday. A quick Google search shows that the earthquake referenced was in the Gulf of California, which is in Mexico. There are plenty of Spanish speakers here in the PNW but it is not Mexico. Poor attempt to associate a current news story to a piece of doom porn.
Greg, is there any way to filter comments by user?
rich … the magnitude 4 earthquake that did strike the PNW may not have been felt by you … but it did occur … and it gave advance warning of the 6.6 magnitude quake that hit further south …
Thank you. Plus, earthquake does not equal tsunami. Tsunamis form under very unique conditions. These two are constantly claiming doom is right around the corner. Doesn’t matter how many times they are proven wrong.
I have a large telescope and consider myself an amateur astronomer. I’ve seen the moons of Jupiter, the rings of Saturn, the pimples on Uranus. (LOL!) I’ve never seen the dark planet/Nibiru/Planet X. It’s utter nonsense. Fantasy for people who can’t deal with reality. Probably pushed on Full Spectrum Dominance. They acknowledged the supposed date Nancy Lieder predicted Nibiru’s return by naming the military operation in Iraq that day Operation Planet X. Just goes to show you they are paying attention and possibly leading the deception.
If you’re worried about some non-existent planet smashing the Earth you certainly won’t have any time to or care to stop the New World Order.
Don’t think so?
We are talking about a government that perpetuated the alien/UFO myth for over 50 years to help cover up their real advanced/experimental aircraft programs.
Woody188 … As you say not all earthquakes produce Tsunami’s … but when the “big one” we are talking about hits” it “will definitely” (with 100 percent certainty) create a Tsunami … because sitting on top of the Juan de Fuca tectonic plate and right against the Cascade mountains (the North American plate) is the Pacific Ocean … now when the Juan de Fuca plate “slips” down and the Cascade mountains rise up … it will push the Pacific Ocean in the same way you would by jumping into a swimming pool doing a “cannon ball”!
And Woody … as for you not having seen the binary reddish brown dwarf “Death Star” (around which five planets circle) which is heading directly into our Solar System … try focusing your telescope on the following sky coordinates 5 h 42m 21.0s 22° 36′ 45.7″
Reflection nebula around a tau star. Put in the co-ords at http://simbad.u-strasbg.fr/simbad/sim-fcoo and that’s what it spits back. It’s been there for at least 65 years.
You can always tell an expert! Thanks for coitnrbuting.
Rich is another Lib that wants to shut down free speech! Greg can delete anything he deems not worthy I’m sure!
I was a “young dog” the first time I heard about Planet X and its soon coming. Now I am an “old dog” and the same story/new dateline is still circulating.
There is a way to filter out comments one doesn’t want to read. It is the scroll button. You are in control of what you read.
You have the power to separate the wheat from the chaff.
Keep the wheat, throw away the chaff.
Correction: I was wrong about “the location” of the 6.6 earthquake … which was much further south … however it was “preceded by” magnitude 4 quakes in the PNW … predicting earthquakes is not an exact science but future earthquakes do seem to hit “on the fault line” stretching above or below the most recent quakes.
Scientists have put the pieces together … just like we did as kids with a puzzle … and a “picture has emerged” … it is not pretty for those living in the PNW … https://www.youtube.com/watch?v=Yukp0bPkQxs
Perfect interview Greg… Thank you! These next few months are going to be interesting.
Looks like the quake was really in Mexico, in the gulf of California. Did not feel it here in San Diego, thankfully!!
http://www.usatoday.com/story/news/world/2015/09/13/quake-gulf–california/72198216/
“…stock prices at last, came down a little in September. Many rejoiced in what appeared to be a much-needed correction. Then came the reckoning. As stock prices began to fall lenders called in their loans. Margin calls multiplied, and speculators were compelled to sell into a falling market. On Wednesday, October 23, 1929, the market crashed and a panic seized the country. That “Black Wednesday” was followed by a Blacker Thursday and, on October 1929 by the Blackest Tuesday in American History. By November, stocks had lost one-third of their value, and the big pyramid of debt began to collapse under it’s own weight.” David M. Kennedy, “Freedom from Fear: The American People in Depression and War.”
CD
C D,
I expect the mainstream crowd, who jab at people like us, and are caught oblivious to what’s coming – to accuse us of causing the calamity by spreading our mentality: and remain completely ignorant of the facts and figures which comprise the actual causes.
Are you “Fed up” and just want to take your gold coins and run to Canada … well there is a limit on crossing the border “secretly carrying” more then $10,000 dollars in cash … anything over $10,000 is “required” to be declared to authorities … now you “may think” that since a one ounce gold coin has a value of $50 dollars stamped on it … that you can take 199 one ounce gold coins across the border into Canada without declaring it … better try it … the bankers may “say” gold is not money … but when push comes to shove those supposedly”worthless relics” will be confiscated by authorities as being worth $218,900 dollars in cash! … what one should do is wire $218,900 dollars to your Canadian bank account and then go and buy physical gold Maple Leafs in Canada … the problem is the Fed has made it extremely difficult for Americans to open foreign bank accounts! … capital controls is the name of the game!
Correction … I meant to type “better not try it”!
But you can wear gold jewelry and that limit does not apply….see Mike Maloney, “The Hidden Secret of Money”
Rob Kirbys latest
https://www.youtube.com/watch?v=cgBnT5xHJvY
What should we do to protect what we have?
Another great interview, Greg.
Behind the veneer of “all is well” being promoted by both world Governments and the Mainstream Media, the political and financial elite have begun implementing moves to prepare for the next Crisis.
Two Clear Signs That the Political/ Financial Elite Know Another Crisis is Coming
http://www.zerohedge.com/news/2015-09-12/two-clear-signs-political-financial-elite-know-another-crisis-coming
This Taint Yer Dad’s Hollywood Western
Moscow is moving to call Washington’s bluff regarding the fight against the Islamic State, and terrorism generally. Putin knows that the US does not want to destroy ISIS/ISIL, but rather to manage its development in an attempt to steer it toward US strategic objectives.
This strategy was outlined in the declassified 2012 US Defense Intelligence Agency (DIA) document obtained by Judicial Watch, which revealed that the US has knowingly promoted the spread of the Islamic State since at least 2012 in order to use it as a weapon against the Assad government. The document noted that, “…there is the possibility of establishing a declared or undeclared Salafist Principality in eastern Syria…and this is exactly what the supporting powers to the opposition want, in order to isolate the Syrian regime, which is considered the strategic depth of the Shia expansion (Iraq and Iran).”
So, by proposing an international coalition to defeat ISIS/ISIL, Putin is essentially forcing the US either to admit that it is not serious about destroying the terrorist network, or that it will only do so under its own aegis, thereby exposing Washington’s motives as entirely self-serving, and rooted in the US dept dependent military industrial hegemonic agenda for the region.
But Washington will not simply allow Putin to outmaneuver it in terms of Hollywood style public relations. Instead, it reverts to the tried and true, and still remarkably effective, meme of Russian aggression. By portraying Russia, [Hollywood style,] as the villain bent on arming the “brutal dictator, defender of the vile Christians,” the US hopes to transform the discourse on Syria, moving from its own ghastly record of arming terrorists and seeking the destruction of the state, to Russia “meddling” in the conflict.
Keen political observers shouldn’t be fooled by this sort of sleight of hand propaganda. But don’t tell the corporate media. They’re busy working overtime, parroting US-NATO_AKA Saudi talking points, rather than asking questions and seeking answers.
So when your children ask why we blew ourselves up back to the stone age, from the stoned age, you can explain to them about pipe dream pipelines and the late great Petro-dollar and the republic for which it stood. One Saudi owned dual Anglo- American nation, gone under and the late great planet HOLLYWOOD ~ WHERE ALL THE NEWS IS B.S.!
P.S. Don’t build that extra room at the white house. There may be a young Syrian man in your future, like the Boll Weevil, lookin for a home. Better yet ban the bomb Obomber, don’t be a dear in the neo-con men and womans headlights. Reagan told em off, that like children they should be seen not heard, like Trump will too and please, pass on the Taboo-lie!
https://consortiumnews.com/2015/09/07/how-neocons-destabilized-europe/
Greg,
Its worth repeating here….interest rates need to increase to allow the FED to continue the great credit creation cycle. Japan is dead in the water and close to collapse…it cannot grow and its bond market is nigh on the brink. Credit creation has its limitations and the example Japan shows will come to the shores of the US. In the meantime Liquidity in the Bond market, is critical. The FED will create liquidity very quickly through interest rate hikes….note the plural…as in multiple!!! It will require the liquidity…because when the bell tolls (and it will soon) …the FED will require a very liquid market for its newly created (Multiple Trillion Dollar) credit……necessitated by the ongoing insolvency of its members banks and the entire banking system.
On the matter of China….yes they have created unproductive assets from enormous government debt…but they have HARD ASSETS nonetheless. Consider it a conversion of worthless PAPER into hard assets. Very astute business decision IMHO.
The FED did exactly what for the economy ? with its gigantic money printing program. Ah yes …those magnificent FINANCIAL PAPER ASSETS built on quick sand… which bring a resounding diddly-squat to the populace/main street. If the FED really has main-street’s back…then it would be via government edict…instigating/funding nation building programs instead of – lining private banking concerns’ pockets- with money programs.
I ask …is the finger pointing at China….misplaced logic? Or is it intentional??? 😉
China is the engine room of the globe. The US is the biggest consumer market. Doesn’t demand dictate supply ? It was all good and well for the last decade for China to build its economy to satiate the global credit expansion and to supply endless amounts of finished goods. China is slowing….because the US / Europe are in the dumpster. What is the cause of the recession in the US /Europe -who is to blame …surely not China!! As goes demand …so goes manufacturing…..which then leads to the devaluation program we are witnessing from country to country. Ever wonder why the FED hasn’t played the game and weakened the USD outright?? It has…..through its QE program. Every bit of the money printing makes the dollar worth less. The US gets the deflation whilst having the strong dollar….. while the rest of the globe fights inflation and recession/depression. The price to be paid here is the sufferance of the American people whereby asset values fall dramatically as their standards of living deteriorate with each passing day.
The wealth (which is very much illusory because it has literally been built on credit) will vanish and so too will the remnants of a middle class society.
MP made a reference to government statistics. Reliance on fictitious numbers can be very bad for one’s health. He should instigate a Quit program…while he is still ahead.
greg, why Syria? 18 min mossad operation between Syria and N. Korea
https://www.youtube.com/watch?v=sTylLz1ikUo
Allen,
Who produced this? and do you ever think the MSM could be used as disinformation vehicle? I simply do not know what is real information or dis-information anymore. Thank you for posting this.
Greg
greg.
If u look to the side there is part 2 as well, and as to who produce it, i have no clue. I do remember a time when I heard of an attack on syria, by Israel, but it was hushed as a simple bombing.
greg
Here is part one and par two;
https://www.youtube.com/watch?v=sTylLz1ikUo
https://www.youtube.com/watch?v=o5U8P7cNvr8
While tracking down the answer I found this site. good doc Allen. As I sit in my garage with my limited ability to knowledge.
http://documentaryfilmshd.com/category/technology/
no one is going to fall for the gold standard again, at least in the form it once was,
the U.S. has seen to that by destroying the link and faith through abandonment.
only all out global thermo nuclear war will determine the next monetary system which itself will be destroyed at some point in its existence, like all previous.
lets get on with the big war.
Happy Smetah Everyone!
QE is “official policy” right now in Europe and Japan and “secret policy” in the US … when you add up all the new fiat paper being printed by governments over the years … the worldwide annual amount is about 8 trillion dollars … that is equivalent to mining 7,272,272,272 ounces of gold or 227,272 tons of gold every year at the current price … which is about 100 times the annual gold production.
This means one dollar of newly printed fiat paper is worth a penny in gold … so in any re-set to come between fiat currency and gold money … every penny’s worth of gold money should be worth one fiat dollar in currency … or put another way … every ounce of gold should be worth $110,000 fiat dollars … now according to John William’s and Jim Sinclair the inflation adjusted value of gold money should be approximately $50,000 dollars of fiat currency right now … but at the current rate of worldwide QE currency creation they will likely have to double their fiat currency valuation for gold money very soon!
It’s a sad day indeed when even lowly crooks won’t rob banks anymore of their fiat currency … even they want “real money” … http://www.ctvnews.ca/canada/five-suspects-arrested-in-10m-montreal-silver-heist-1.2556222 … so I guess bankers will begin to stress “the advantages” of holding their fiat cash under your beds as being “very secure” (because it will less likely be robed from you then say the “pet rocks or worthless relics you may own)!
The bankers will likely begin telling the public that holding silver “is dangerous to your health” as crooks may begin to target you whereas holding worthless fiat cash doesn’t expose you to that danger … they will say you should never own “rare things” (for your own safety) … and to “protect the public” bankers are probably telling Congress to close down the US Mint … which is supposed to supply all the silver coin the public demands and “never suspend operations” because silver blanks cost more because of scarcity … http://www.commoditytrademantra.com/silver-trading-news/silver-is-becoming-scarce-worldwide-for-purchase/
im Willie’s take: http://news.goldseek.com/GoldenJackass/1442260800.php
“The Patriot Act was a fascist manifesto, much like the Enabling Act installed in Germany over seven decades ago. The two acts have a 90% correlation and overlap, yet the American public remains largely in the dark on the similarity in template. “
“The 9/11 event was the coming out party for the American Fascists. It was also a complex sequence of criminal events, to abrogate $230 billion in Russian bonds, to wipe clean the Black Eagle Fund on gold obligations. But in the immediate, it was a bank heist. Few Americans realize that the World Trade Center housed the largest bank in the Western world. Thus the object of the bank robbery, where $100bn in bearer bonds were stolen, $100bn in diamonds were stolen, and $100bn in gold bullion was stolen. “
Free markets only exist is the land of Myths and Legends.
Just like the World is waking up to the truth as to who has created a World on the brink of Geo Chaos , it is also waking up the the FACT that computers are responsible for the majority of trades in world markets.
In fact I would venture to say that for at least a decade or more the World has been operating on a fraudulent set of rules.
If we are to survive we need to stop this insanity that we call politics.
The only thing that is REAL today is the food in your cupboard and the silver and gold within your immediate access.
If you have followed the stories on ZERO HEDGE this weekend you probably are sick to your stomach with the powers to be that have brought us to this cliff.
Jim Willie’s take: http://news.goldseek.com/GoldenJackass/1442260800.php
The Gold price will find its true value and price over $10,000 per ounce. The Silver price will find its true value and price over $400 per ounce. In reaching these levels, the ratio will return to the 25-1 range. Several steps have been laid out by the Hat Trick Letter toward the return of proper price to precious metals. The major upcoming events will be exciting to watch unfold, one after the other, in an inevitable sequence away from fascism and concentrated uni-polar power, with a strong movement toward freedom and equitable systems with distributed power. The steps will each involve a quantum jump in the Gold & Silver prices. The process will take a few years, but might be breath-taking in speed once the process is begun. The steps involve:
the critical mass of rejected USTBills in trade settlement, citing its corrupt roots and illicit monetary policy as foundation
the return to the Gold Trade Standard and introduction of Gold Trade Notes as letters of credit, in replacement for a fair tangible payment system (no more IOU coupons)
the recapitalization of the global banking system with Gold as primary reserve asset, so as to relieve the grotesque stagnation, insolvency, and dysfunction
the seeking of equilibrium in Supply vs Demand in the new fair uninhibited market, with exclusive control removed from London and New York, and placed elsewhere like in Shanghai, Hong Kong, Dubai, and Singapore.
the seeding of BRICS gold & silver backed currencies from participating nations within the Alliance (likely several with slight variation in features)
the re-opening of the gold mine industry with some blue sky, and relief from the Evergreen element at Barrick
the remedy toward owners of over 40,000 tons of rehypothecated and stolen gold in bullion banks across the world (primarily in Switzerland.
Greg very sharp Bloke – reminds me of Greg Mannarino! I have said from Day number 1 that the US Fed was going to raise rates. Why, Because that run the People of the Fed DONT CARE! I actually think that they are (as your guest says) Crazy enough and sick enough to drop a bombshell and go a full 1% – As I have always said they want to be last man standing!!
Yeah … they are a crazy as the 9/11 crowd … and will similarly bring the world economy down the same way they did the towers … only in the movies is there a “Roy” around to “stop the tower” from being brought down with explosives … and only in the movies is there a “Superman” around to fighting for justice and the American way … in the real world the crooks are robbing us blind and sitting on the beach drinking mint juleps and earning 20% on their stolen money.
Wouldn’t China be the wealthiest nation on the planet if the price of gold wasn’t being manipulated and we reimbursed them for what we owe? After the collapse they will have a solid infrastructure while ours will continue to collapse.
I cannot agree with Pentos perception of China… the great building of cities and roads is a PLAN…no large economy doesn’t have hiccups..
Greg,
I really appreciate all your hard work and you have readers who are obviously not dummies either. Have you considered having Dave Kranzler on form Investmentresearchdynamics.com on? I believe Dave has bee one of the best predictors of things to come and has ears and eyes all over the financial industry. Keep up the awesome work!
Greg — Thanks for having Michael Pento back, he explains things so well.
The final 2:30 minutes of the interview really speaks to Pento’s mindset — “be in physical gold”; he’s not alone. Other market analysts have advised clients to be out of the stock market and sit on the side in cash/gold/silver. Richard Russell values a good night’s sleep higher than fretting over the stock market; how do you place a value on peace of mind? IIRC Rick Rule considers gold to be cash, but that’s the playground he runs in.
I have no idea what’s coming next, but I have a feeling we aren’t going to like it. That said, I’m out of the market, watching from the sideline — kibitzing now and then but no one really pays attention.
We started hearing rumblings back decades ago that something wicked this way was coming (just affirming Biblical prophecies with specific street-level reporting). Gives me chills to see it all coming to fruition in our lifetime. Babylon is indeed rising for one last great act in the human drama. And so many skeptics still……Maranatha!
Michael Pento really seems like a “NO BS” kinda guy. Love it when you have him on ! Thank you Greg !
~Derek
DC,
So do I and I hope he keeps coming back!!
Greg
There’s gonna be a lotsa eggs on lotsa faces when nothing significant happens this month.
Anybody willing to give odds? How about you Greg. Any odds?
No odds Leonardo, just math, and the math is terrible. The collapse is a process and it has been drawn out by 0% interest rates, phony accounting (check FASB), massive and ongoing money printing and fraud, lots of fraud. To name a few huge frauds, rigging LIBOR and FOREX markets come to mind, but many more are there. Tell us all why you think everything is peachy. Oh by the way, the World Bank warned last week that if the Fed raised interest rats (and we are talking .25%) it would cause “panic and turmoil.” Show us all how smart you are and paint a pretty picture and use sources and facts.
Greg
Greg, another FEMA COFFIN candidate from the “I can’t find my butt with both hands” social organization. Just great!
Greg,
Christine Lagarde warned them back in June of this year in very stern terms……her message was “Delay until 2016”.
Me thinks that with the World Bank and the IMF “rhyming” rhetoric (both controlled by the US) …..there is something afoot here and it stinks to high heaven. There is no independence there…all of them are controlled by the same group of corrupted , power-hungry individuals whose aim is to control the wealth of the entire globe.
Doesn’t have to be pretty Greg, just sustainable for the next 5yrs or so. There will be no collapse, but the middle class will be seeing a lower standard of living over the next couple of years. TPTB can not and will not allow this to collapse, how would they survive without the peasants working the fields. BRICS, AIIB, 2 issues that can’t and won’t be stopped, we’ll see how it plays out. Change is coming, adjust accordingly.
I think you are confusing the last 5 years for the next 5 years.
Greg
I won’t be able to show how smart I am until October 1.
You misinterpret my point – I don’t think everything is peachy. Far from it. I certainly agree with you that a collapse is underway and also all the other economic points you make and have made- however to incriminate the poor month of September as the murderer of our shredded economy is a stretch to say the least.
I agree with Dr. Roberts that the manipulators of our economy from the BIS through their member central banks have enormous world-wide manipulative powers capable of sustaining this massive fraud for much longer. As my favorite teacher, Dr. Carroll Quigley used to say”the bigger the probability the closer it seems”. I’m betting that you are wrong. Time will tell.
P.S. You forgot to give me odds…
Leonardo,
How can I give odds in a collapse that is ongoing? This is not an event but a process and process is looking bleak. When it goes it will go fast and I do not pretend to know exactly when that will happen, only that it will happen.
Greg
Another good interview.
The next couple of weeks should be very interesting. I am wondering at what point do they pull the plug on the internet. Probably about the same time as the false flag cyberattack blamed on the Chinese or Russian hackers.
Here in Phoenix we have the freeway shooter on the loose. It reminds me of the freeway shooter back in 1987 in California.
Increased helicopter patrols over the city, people mostly asleep as the police state cranks up. The state is calling this domestic terrorism. They have a hotline set up named the “Arizona Counterterrorism Hotline”. Probably wired to a bunker down at the Papago park national guard base. They caught three teenager copycats with a slingshot this past weekend. Time to ban slingshots.
Keep up the good work.
Out here.
THEY ARE LOOSING CONTROL OF EVERYTHING.
As Greg stated. This is simply about MATHEMATICS.
Individuals, Nations, Companies, Banks and Central Banks all have too much debt on the books.
They have all lied about this debt and hidden as much of this debt as they can.
The only thing left is the reset and be sure that the Bankers that have lied to us since the early 1913 will emerge from the reset with more real assets than us little people.
Do not be fooled by the double talk. Protect yourself asap BUY SILVER AND GOLD AND TAKE DELIVERY NOWWWWWWWWWWWWWWWWWWW!!!!!!!!!!!!
I think this is a fair question. How do you explain these charts if our economy is so bad . http://www.businessinsider.com/economic-indicators-since-great-recession-zero-interest-rate-policy-2015-9
Just don’t understand the disconnect between what’s going on out there and what is said here. I have rarely seen so much construction here in WA state as of lately, residential and commercial. And this is true in many cities in the U.S. Respectively, what am I missing.
Robert,
The real question is why do you believe government charts? The charts John Williams uses with real un-gimmicked input look totally different. One example is unemployment. If it were measured the way BLS did it in 1994 and earlier the real rate if unemployment and underemployment would be around 23% not the 5.3% lie we are told.
Greg
No one reads anything I post. Robert here’s the only chart that matters.
https://research.stlouisfed.org/fred2/series/M2V
This says is all Jerry!! Thank you for the money velocity chart that’s headed down, down, down.
Greg
Greg here’s another.
http://www.bloomberg.com/quote/BDIY:IND
My sources tell me cargo ships are setting idle in Chinese ports. Pretty much tells the story. Global slowdown.
Jerry,
Thank you for providing another data point that backs up what Pento is saying about global economy “imploding.”
Greg
Thank you Greg.
Here is something you may wish to look at as well.
http://thebricspost.com/100bn-brics-monetary-fund-now-operational/#.Vfh3A3yFMfg
It tells me that if the Feds raise interest rates, the BRIC nations have an exit strategy.
Greg,
Wow! This guy took me to school, with all of his wonderful words he used. I had a Western Civ. Prof. who in addition to our normal history asked us to read five books plus vocabulary words. I learned how much I love to learn that semester. Mr. Pento gave me three words I had to look up. I mean who ever heard of FECKLESS. I sure didn’t, but I looked it up. It means weak, ineffective or worthless, irresponsible. Well I will sure put this word to use. I mean I think our society for a large part is feckless. Look how many people are so distracted by their smart phone, their smart TV, their smart house, etc. that they cannot see that we are imploding. …or the SHTF is coming to a house near them.
Second word I have heard before but forgot what it meant…odious. It means causing or deserving hatred or repugnance. I’m thinking our government for the most part is odious…this includes the politicians …you know the ones that are spending into oblivion.
Third word was antithetical and it means 1.directly opposed or contrasted; mutually incompatible: “people whose religious beliefs are antithetical to mine”
synonyms: (directly) opposed to · contrasting with · contrary to ·
[more]. 2.connected with, containing, or using the rhetorical device of antithesis. Well I sure will use this word because this Amerika that we now live in has slapped God in the face with all of this LightBright Groups. I mean all these laws that they have passed to protect all the LightBright Groups, but jail an elected official who opposes giving them marriage license. I’m tired of my government pushing their antithetical laws onto those of us that are Christian.
Greg,
Another thing I wanted to report but didn’t get around to it last week is about PM. Here in central Arkansas I went down to my regular place to buy only a couple of thousands of PM. I asked about how they were set and he told me that they have some, BUT it was already spoken for. I was able to get a mix of G & S, but he has upped his spot price on silver. He use to charge $100. on gold and $5. on silver. Well he sold me silver eagles at $22.50 when silver was around 14.50. So he was up two bucks a pop. He told me the next time call before coming. I think he is still able to get them, but I might have to wait which I never have over the past 8-9 years.
Greg
Mr Pento once again is another expert talking about Triffins Dilemma. The following is from Martin Armstrong today
They are expecting the Fed to sacrifice domestic policy objectives for international objectives where so many have borrowed in dollars to save interest. This is the real clash between domestic vs. international and the consequence of the dollar being a reserve currency.
One of the best writing on Triffins Dilemma as applied to todays global economy is on Hammering Truth under the Unrelenting Liberty the blog post is captioned “I warned you” says Triffin…
August 20, 2015
Link to Hammering Truth
http://www.hammeringtruth.com/?page_id=8577
If would be nice if you could address the economic realities of Triffins Dilemma
Thank You for all of the great interviews.
The RIverman
A start toward peace? … http://news.yahoo.com/irans-president-rouhani-sends-message-jewish-062720406.html
Paul,
Total BS.
Greg
I read Daniel Chapter 4 last night and saw the US in place of Nebuchannezzar. Seven years of insanity coming, eating like the wild beasts, and being displaced as the ruler over the Earth before turning back to The Lord. We all need to turn back to God now tho, and get right with Him! Everybody just remember, God allows U-turns!
I was sure something big was going to happen on Sept. 13 but I was pleasantly surprised. The last 2 years that the Shemitah ended on were epic and I expected something even bigger this year. I am still expecting the big crash very soon but I am losing faith in predictions on a particular date. Only God knows the time !!!
Wow! … this is very interesting if true … supposedly the US Military is at war with the CIA and the elite bankers and are blowing up their underground tunnels to deny them “escape” from whatever is coming … https://www.youtube.com/watch?v=USKCIO8Ksfo
So could it be that Jade Helm is not a prelude to marshal law where “Statehood” is denied to States as they are put under Federal control … now that is “out of the box” thinking for the conspiracy theorists!
What if?
We all know the pro’s and con’s of the FED raising its rate, but what if their decision has nothing to do with the stock market that they already rig or the bond market that they and other central banks just print money to buy. What if there is another reason? If gold is really in short supply and JPM’s derivative position it took out in the first quarter is only powerful enough to control the Comex price and not the demand. Then not raising the rate will surely push both the last drop of real gold out to meet demand and possibly the derivatives position, assuming it is not completely linked to the Comex price and the LMBA or the SGE have no bearing on its trigger.
The FED, may likely be in a position with regards to gold supply that they have to raise rates regardless of the consequences to the stock market, the bond market or the real economy.
Sounds crazy I know, but it is possible and very scary
Ferdinand,
Former White House Budget Director (Reagan Administration) says the Fed will have no choice to raise rates and soon. The Stockman interview will be posted just after Midnight tonight.
Greg
Greg,
Thanks…I love that site…one of the very few I follow!
Lets not forget that paper promises for PMs are just that promises…
If you are following the story you know that evidence is emerging daily that the ability to deliver physical is in great peril.
We are approaching the finish line now.
The shelves are nearly empty and the price is about to go ballistic.imho
Greg. I am really looking forward to hearing you on http://www.coasttocoastam.com/ Wednesday.
Thank you JC!
Greg
Question for the group: Has anyone experienced a noticeable reduction in gas MPG lately? We seem to have a consistent change in our family member’s vehicles, not enough to offset the savings in reduced price, but enough to make us wonder if there is foul play at work.
And you think employments tight in the state’s? Just look at new layoffs in EU!!
Deflation Slams Big Euro Banks——Deutsche Bank/UniCredit to Slash 33,000 Jobs
http://davidstockmanscontracorner.com/deflation-slams-the-big-euro-banks-deutsche-bank-to-cut-23000-or-one-fourth-of-work-force/
UniCredit (CRDI.MI), Italy’s biggest bank by assets, is planning to cut around 10,000 jobs, or 7 percent of its workforce, as it seeks to slash costs and boost profits, a source at the bank told Reuters on Monday.
The planned cuts will be concentrated in Italy, Germany and Austria, several sources said, adding that they include 2,700 layoffs in Italy that have already been announced.
A UniCredit spokesman declined comment beyond noting that the bank’s CEO Federico Ghizzoni had on Sept. 3 said there were no concrete numbers on potential lay-offs, after a report said it was considering eliminating 10,000 positions in coming years.
Ghizzoni is reworking a five-year strategic plan, unveiled only last year, that will aim to boost revenue and cut costs. The revised plan is expected to be announced in November.
“The plans are for 10,000 job cuts,” the bank’s insider said, speaking on condition of anonymity. “They will be mainly in Italy, Austria and Germany.”
UniCredit, which has 146,600 employees across 17 countries, is under pressure to boost its profits as low interest rates are expected to keep hurting its earnings in coming years.
Other banks, such as Britain’s Barclays (BARC.L), are also cutting thousands of jobs and selling assets, as lending margins are squeezed.
Financial sources said on Monday Deutsche Bank (DBKGn.DE) was aiming to cut roughly 23,000 jobs, or about a quarter of the total, through layoffs mainly in technology activities and by spinning off its PostBank (DPBGn.DE) division.
Reducing costs would also help UniCredit allay market concerns that it may need to launch a share issue, something Ghizzoni has repeatedly denied.
Any cost cutting has long been expected to target Germany and Austria, where the cost-to-income ratio was respectively 80 percent and 91 percent in 2014, compared to a group average of 61.5 percent.
But the exact numbers are still under discussion and may change, as could the number of countries involved, sources said.
Deutsche Bank aims to cut roughly 23,000 jobs, or about one quarter of total staff, through layoffs mainly in technology activities and by spinning off its PostBank division, financial sources said on Monday.
That would bring the group’s workforce down to around 75,000 full-time positions under a reorganization being finalised by new Chief Executive John Cryan, who took control of Germany’s biggest bank in July with the promise to cut costs.
Deutsche’s share price has suffered badly under stalled reforms and rising costs on top of fines and settlements that have pushed the bank down to the bottom of the valuation rankings of global investment banks. It has a price-book ratio of around 0.5, according to ThomsonReuters data.
Sorry Greg,
I thought I did a better job of editing this down….
Greg,
I have heard story after story about China “dumping” treasuries, but no stories indicating who the buyers might be. Have you heard anything?
Steve
Steve,
It is an opaque world and would not be surprised it the Fed was the covert buyer but I cannot prove that.
Greg
Greg,
I believe that the Fed may be the buyer. That’s why I keep writing my congressman and senators and ask when they will have the Fed audited.
Steve
I love this guy, Become a fan of him.