End of Capitalism Is Here-Ellen Brown
By Greg Hunter’s USAWatchdog.com
Public banking expert and attorney Ellen Brown says, “Your life savings could be wiped out in a derivatives collapse.” Brown explains, “Nobody anticipated what happened in 2008, and that was a $700 billion bailout. Even if the FDIC tapped its Treasury line, that’s only $500 billion. So, certainly things could go wrong. Also, why are they rushing to put these things into place? They’re expecting something.” Brown goes on to point out, “They think they have avoided too-big-to-fail, but what they have actually done is formalize too-big-to-fail. I mean it’s the end of capitalism. There is no such thing as too-big-to-fail in a capitalistic society where you say certain corporations can’t fail. If you have to take the people’s money to prop them up, it’s no longer capitalism.”
Brown says, “Instead of treating banks like they are too-big-to-fail, treat them like public utilities. I am head of the Public Banking Institute, and what we want to do is publicly own banks. In every country, something like an average of 50% of the economy is publicly owned and 50% is privately owned. For us, the big 50% is like the military. The military is our biggest socialist engine. It seems to me we’d be better off with publicly owned banks, which is just acknowledging that money is a public utility. It’s our money and ‘We the People’ back it, and clearly we back it. We are making these banks too-big-to-fail, and we are backing these banks. They are sucking the profits out like a parasite from the economy. The profit should go back to the people. The credit should go into manufacturing jobs. Manufacturing is disappearing because the banks make more money on derivatives than by making loans to small and medium size businesses, which is where manufacturing comes from and where jobs come from.”
Brown warns that people are more at risk in the U.S. to lose their savings because the five biggest banks have nearly $250 trillion in derivatives. In a financial calamity that could cause mass bankruptcies, recent legislation says the derivative holders will be paid first. Brown explains, “The have super priority over everything. . . . All the creditors’ money will be taken in a bail-in. A bail-in is the opposite of a bankruptcy. In a bankruptcy, the bank is liquidated in order to pay off the creditors. In a bail-in, the creditors’ money is taken in order to keep the bank alive. So, we get to die while the bank lives instead of the reverse. They specifically say ‘creditors’ which means shareholders and bond holders, but what most people don’t realize is depositors are also considered creditors. When you put your money in a bank, it becomes the property of the bank, and all you have is an IOU.”
Join Greg Hunter as he goes One-on-One with Ellen Brown of EllenBrown.com.
(There is much more in the video interview.)
After the Interview:
Ellen Brown’s website is also known as the Web of Debt Blog. Brown writes articles there on a regular basis, and it is free to the public. Brown has also written a dozen books. Her latest is titled “The Public Bank Solution.” To buy any of Browns books, click here and scroll down to where it says “A complete list of books by Ellen Brown.”
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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.
We have eliminated true free-market banking, are experiencing the consequences, and instead of moving back towards free-market capitalist banking, Ellen advocates going forward into full-blown socialized banking.
The practice advocated by many bitcoin enthusiasts of “being your own bank” or “becoming unbanked” is looking more and more attractive. The discussion between these two gives a glimpse of the parallel “system” that is developing outside of traditional banking that I find quite exciting because it represents a fundamental power shift away from the ruling class and back to the individual: https://youtu.be/CwESaqkOCj0
Tod
“The discussion between these two gives a glimpse of the parallel “system” that is developing outside of traditional banking that I find quite exciting because it represents a fundamental power shift away from the ruling class and back to the individual”.
Not to be cynical, but when this movement gains momentum and looks like it can possibly take off, do you really think the ruling class power brokers will tolerate such a shift ? Really?
Any time the powers that be feel their power is threatened, they react. The Brits didn’t give up the American colonies willingly, but does that mean the Americans were wrong to secede? Of course not.
That’s an interesting point — we have both things developing: (1) non-bank-based currencies and exchanges, and (2) bank-based currencies (the official digital currencies) evolving from a private monopoly to publicly-owned and -operated (after the heavily regulated stage in between has proven a failure). Both are nascient developments at the moment, but sprouting and interesting to watch.
I think the Canuck pretty much brings to light the real question; that being how far are the people in charge able to go in order to preserve their current positions. How much of what is going on here is by design and how much of this is just pure hell breaking loose?
I think we all agree that this current situation is collapsing around our ears here, but when the dust settles what are we going to be looking at?
I always wondered where guys like Jim Rickards, Mike Maloney and all
the alternative sites got their Fed info. It all came from a book called
Web of Debt, by Ellen H. Brown. This was actually the ground
breaking book on the whole movement. Yet, no one knows she was
the original person to bring all this info to light. They think it came from
The Creature From Jeckel Island.
Tod,
He summed it all up in the video at the mark 26:20
IT IS TRIPLE ENTRY BOOK KEEPING….!!!!
Venetian TRIPLE venue at best.
I see and smell the Rothschild and Rockefeller in bitcoin, but i bet they will keep gold and silver.
Coal Burner……
There is your answer where are they going (not location wise but plan wise).
Mohammad
I agree. It does sound like Ms. Brown is advocating socialist banking. Aren’t credit unions similar to what she is advocating, where the depositors are co-owners of the bank? The difference between a credit union and a government bank is there is more local control and it really is a private bank. When the government has control, there is too much bureaucracy and corruption. I must dissent from government owned banking like I dissent from the government sanctioned federal reserve. For instance, in communist countries, the people do not own land, but the government does on the people’s so-called behalf. The people there can be evicted at a moments notice with little recompense. The same thing is bound to happen with government banking. I think the likelihood of a bail in with government banking actually increases dramatically vs having private banking. Quite the opposite of what Ms. Brown is trying to accomplish, which is to protect private property rights.
Where do you see ‘socialism’? Ms. Brown’s ideas, if implemented, would avoid paying (I think it is 6% BY LAW) to the private owners of banks. Instead, the interest would revert back to the government’s treasury. It really is awfully dumb to allow private companies to create money, then for the government to borrow it at interest! Do you know where REAL socialism will occur? When the individual taxpayers will be forced to bail in banks! LOL
Am I correct in assuming that when you say “It really is awfully dumb to allow private companies to create money, then for the government to borrow it at interest,” you are referencing the federal reserve ? Because the Fed IS A PRIVATE CORPORATION that does just that.
I always enjoy listening to Ellen Brown
Socialism is where the people work for the state. What I’m talking about is where the state works for the people. Bitcoin is fine for trades, but you can’t take out a 30 year mortgage or finance a business in bitcoin. Banks serve a useful purpose: they monetize IOUs, turning personal credit into something that can be spent in the marketplace. That’s what our money is today: credit monetized by banks. I’m just saying the banks that serve this function (or at least some of them) should be public utilities, the profits should return to the public, and the credit function should be available for public purposes. The banking system today is not only taking the profits but has the apparatus in place to take our deposits to prop itself up when the derivatives house-of-cards collapses. That is the opposite of capitalism, and it is not a safe place to put our money.
Your are omitting the big elephant.
Issuing the currency by a private bank with inherent interest tagged to it that will never mathematically be paid.
Unless it is back to issuing currency that is not tagged to inherent interest, nothing is changed, public bank that is or private bank.
Mohammad
Ellen, I support Public Banks provided that they keep a 100% reserve requirement on all deposits by default. At this point, each depositor can elect to have a portion of deposits available for lending at a rate they (the depositor) specifies to Government only for infrastructure projects that facilitate in the creation of sources of wealth generation. Since the depositor is at the front-line on the pricing of goods, a true interest rate would be demanded for any portion of deposits made available for lending. This would help to restrain the Black Budgets of Governments. I say restrain and not eliminate because a large portion of funding to Black Projects is from narcotics.
I am not sure how to handle infrastructure projects with a cost beyond that of the deposit pool made available for lending. Does the country simply tighten it’s belt and live within it means?
The Bank of Canada original charter was that of a Public Bank which was abrogated by the Crown Corporation CANADA that continues to drag their feet in the COMER case.
We have the Bank of North Dakota and the Sparkassen public banks of Germany to show that’s not true. In 200 years, no Sparkassen bank has ever gone bankrupt; they help each other when in trouble. And the BND is the most profitable bank in the US, more profitable than Goldman Sachs or JPMChase, per the WSJ of Nov 2014. It’s been operating for a hundred years, very successfully serving the people of ND.
Ellen
I have mentioned this incredibly successful model that is the BND many times on WD and am mostly greeted with a deathly silence!
People of the US have a working model right under their noses of how the bankism model currently used can be disenfranchised and replaced and yet no-one seems to want to hear about it. This to me is quite extraordinary!
I notice that you mentioned that you are visiting Iceland in the near future. Here under our noses of the whole globe is a successful working model of how bankism was challenged at a sovereign country level. This is huge news and yet is rarely spoken about in financial circles.
Thirdly now the world has been shown that blockchain technologies can challenge big banks at the transactional level and 9 out of 10 people don’t want to know about this either.
The solutions are out there and yet even here on WD where you would expect people to be relatively educated and enlightened, someone like you comes up with workable solutions and success stories and yet they are met with considerable suspicion and resistance.
I just don’t get it!
Cheers
Col
@Colin this is the first that Ive ever heard of the BND or block chains I will research them now that I am aware of them Thanks
It’s an automatic knee-jerk response, I think, in people who read the alternative news sites. They see ‘government’ and it automatically translates into ‘bad, inefficient’. They do not bother to think it through. ‘Government’ isn’t ‘bad’ 100% of the time.
Neither was Hitler, but he caused IMMENSE amounts of carnage because of lack of accountability to Germany and protection by the military aka MERCENARIES. See any parallels?
Ellen Brown actually was allowed to say it “Glass-Steagall” unfortunately she did not define it, or compare it to the evil Dodd-Frank Bill.
d
Greg, thank you for having EB back on. For the past few weeks, almost like a junkie to this site, I was thinking, “We need an ‘Ellen Brown’ fix,” and poof, there you have it! Thank you again.
In some ways, EB reminds me of Karen Hudes, and what KH is trying to do in dismantling the structure of the Elite and bring the gold (and subsequent currency) “back to the people.” The problem, though, as I continue to follow Lindsey Williams, is that the Elite have been in place now for centuries (the Rothschilds go back to the mid 1700s, and are still very much in control of the world’s banking systems). The problem that some of your guests have, is that they do not understand (or do not want to understand) the character of the Elite and the Elite’s ultimate goal, which is population control and a return to the medieval feudal system. They want to return to this system peacefully, but if war is inevitable, so be it (to them).
And spiritually speaking, the Elite have served and continue to serve their “god,” who is Lucifer. They do not call him the devil. He is the fallen angel, who tricked Adam and Eve in the Garden, securing the rights to this planet, until Christ returns and establishes His Kingdom forever and ever (what is already established in a Christian’s own heart). Jesus did not dispute Satan’s claim when He was tempted, namely, Satan reminding Christ that “all the world’s kingdoms have been given to me, and I may choose to whom to give them.” Christ resisted the temptation, but nonetheless, did not dispute Satan’s claim.
Which is why, ultimately, we are in the middle of a spiritual battle, one which Christ has already won within a believer’s own heart, but must now be finished in the external.
EB is no KH. EB does not makes unsubstantiated claims as to whom she works for and for whom she represents. Her so called Global Debt Facility is pure BS.
CAK -“EB reminds me of Karen Hudes” WOW
I did say “in some ways” … implying, not all. I agree with you, KH has many unanswered questions about her and her intentions. But someone is funding her, unless she is using up all her retirement savings from the World Bank. What I have most appreciated about EB is her emphasizing the reality of “bail ins.” It is simply a fool who would think nowadays that FDIC insurance will cover them, and make up for their losses. And what would we get anyway from the FDIC? Worthless Federal Reserve Notes? As Jerry has been correctly reporting, when the reset happens, and China gains its place at the top, the US dollar will be meaningless, and worthless. Those who have cash in their house will only be able to use it for a very limited period of time. As LW has always said, “Those whose assets are in paper, are only worth as much as the paper it is printed on.” The Elite’s plans are much more sinister, and nowadays, mass killing is all the more easy. Detonate an H-bomb in the center of Chicago, and millions of people will be dead in a matter of minutes. Launch an EMP strike, and the same mass casualties will ensue. At least KH is trying to advocate for a “peaceful” transition, even if she is all smoke and mirrors. It is quite sobering to realize that you and me and most everyone else in this world are simply considered “expendable” by the Elite, or as one forum post-er has written elsewhere, we are the “useless eaters.”
CAK
We do agree on many items you posted, especially about the bail in’s topic expressed by EB. (Greg, a great interview with EB by the way)!
RE: KH, you did say “in some ways” in you initial post.
I tend to agree that someone is most likely funding KH. Elite? No proof on my part, but just asking. Her smoke and mirrors routine are so off the charts its unreal.
Just so there is no confusion, when I said that her Global Debt Facility is pure BS above, I was referring to KH.
Only a nation of complete idiots could allow a country with all the resources the USA has or to be more accurate had, and turn it into a nation that will soon be on a lower standard than the worst third world country.
First off, stop complaining about the incompetent and corrupt politicians. They didn’t just walk into office, you morons are the ones that voted them in. And then when they proved to be the wrong person for the job what did you do. You fools kept re-electing them in droves. Look in the mirror everyone because the real problem is YOU and you are all going to end up getting what you deserve. Happy New Year and go to hell.
Jim The votes are rigged. from Start to finish we know that, but the media keep propping up people to run to keep the population from realizing it is a forest of lies. There is no way to make a person see this when they have no eyes.
I could not have agreed more, like Bismarck once put it every country elects the
politicians ( I cannot bring myself to say they are the leaders) whom they deserve!
I doubt many of us voted for oboob. It’s the cultural marxists, dead beat tax payer leaches, the new age trans perverts and the inbred, buger eaten morons…..and those who think hillary and billy will make it right. Must be the well water…..I don’t drink govment coolaid.
They got to get the Guns first before pulling the plug here in the US
But they are free and clear to get away with this now in Europe- the peasants there have largely been disarmed.
What guns/sarc
Guns? What guns, officer? I lost all of mine in a tragic robbery. Same thing happened to my gold and silver and cash and ammo and long term food preps. 😉 LOLz
Perfect timing Greg. Last night my sister was asking about bail ins. I could never explain it like Ellen Brown. This will help.
Maybe people should ease a little cash out of the banks, each week….they don’t pay interest anyway. You can always deposit it to pay some bills.
James, I’m way ahead of you on that. I keep only a very small amount of money in my savings and checking accounts. Will take even more out now, after listening to Ellen B again. Keep enough to pay my bills as they come due. I’ve also consolidated my IRAs into one, and have just about got that account emptied also. I find it absolutely amazing that in my lifetime we have gone from a country that was the envy of the world, to what we’ve got today. I pity my grandchildren who will never know/believe what this country once was.
just give back what you stole…
Unfortunately when it comes to things like bank bail-ins, derivatives, FDIC insurance etc… I find a number inaccuracies made by people. Ellen Brown is no exception. She says some things that are not really correct and some things that can be misleading. She states that derivative claimants go first in a bankruptcy and that they are exempt from bankruptcy rules that require automatic stays and that they can just go in and grab the collateral. That used to be true but it is not true today. That changed back on January 1, 2015. There are now stays for derivatives that was agreed upon by the banks.
http://www.reuters.com/article/us-banks-derivatives-regulations-idUSKCN0I00T720141011
Ellen Brown says that theoretically your deposits are insured up to $250,000. It is not a theory, it is currently a fact. She than says the FDIC stands inline behind the payment of derivatives in bankruptcy. She is correct because the derivative creditors have priority over unsecured creditors and the FDIC is an unsecured creditor as are depositors. Does this mean that derivative creditors get paid before insured depositors since depositors are an unsecured creditor and that there will be little or no money left for insured depositors as many assume? The answer is no. Insured depositors get paid first by the FDIC. The FDIC then stands in the insured depositors place as an unsecured creditor in bankruptcy and hopes to recoup some of the money that the insurance fund paid out to insured depositors.
As far as bail-ins, Ellen Brown states all the creditor’s money will be taken in a bail-in. That is not correct. Some creditors are exempt. Insured deposits are also not part of any bail-ins. The primary creditors in bail-ins are bondholders, shareholders and uninsured depositors.
Also to clarify something that Ellen Brown said about the FDIC insurance and derivatives that people get wrong. Ellen Brown states that the FDIC insurance would not be enough to cover a $10 Trillion derivatives bust. First off, the FDIC does not have to cover a $10 Trillion derivatives loss. The FDIC insurance only covers deposits up to a $250,000. It does not cover and is not liable for derivatives losses incurred by the bank. What happens is that the banks use some of the depositor’s money in the derivative transactions as collateral. Derivatives collateral posted is mostly cash and Treasuries. So in a $10 Trillion derivatives loss there may have been $1 Trillion in cash and securities posted as collateral which was the depositor’s money but only about half of all deposits are insured. So the FDIC insurance would cover about $500 billion of insured deposits which was used as collateral by the banks in their derivatives transactions. The FDIC would have to borrow from the Treasury most of that amount. So who would be on the hook for the large derivative losses? It is really the taxpayer.
I may have more to say about this interview since I have not seen it all. No doubt some on here will disagree based on what they may have read or heard from the ALT media. I would welcome any comments.
JMILLER
And you know all this because …….you’re a bank CEO? I think Ellen knows a little more than you. Read the bill that was passed in 2014.
http://www.dailykos.com/story/2014/12/12/1351389/-Congratulations-chumps-You-are-now-on-the-hook-for-303-Trillion-in-Derivatives
As for me, I know where my money is. Its in the Bank of Jerry.
Jerry, are you really this stupid? That article that you gave the link to says that taxpayers are on the hook for derivatives which is just what I said in my post. And sorry but there some things that Ellen Brown seems not know and does not get exactly right which happens to all of us including you.
I can’t believe I’m wasting my time posting this.
http://www.zerohedge.com/news/2015-05-14/even-fdic-admits-its-not-ready-next-banking-crisis
Believe what you want pal. If you’re dumb enough to believe the government will cover your money in a bank, your the one who’s stupid.
Yes Jerry, I believe that insured depositors will be protected if at all possible. And it is very important that they are. If they are not, people will not keep their money in the bank, you will have massive bank runs and complete collapse of the financial system and economy. That is why in all the bail-ins so far, insured depositors were not included and in all the bail-in plans insured depositors are exempt. The last thing any government wants to do is take insured depositor’s money or have them suffer a loss. I believe it is the taxpayers who will end up paying for the bailout of the FDIC insurance fund by having the Treasury loan (in reality give) them the money. I do not believe it would cause the dollar to crash and burn and that we end up having hyperinflation because of just that. Also I do not believe in a complete collapse of the global financial system that supposedly happens almost overnight as some do. Bill Holter’s “fact or fiction” story is mostly fiction as far as I am concerned. I see no reason for the U.S banking system to be shutdown for weeks and certainly not for months which Bill Holter seems to think is possible. I can see maybe for few for a days. I also do not believe in the all at once mass confiscation of everyone’s money including all retirement accounts like some do. Never happened in history. Governments take things in steps and in pieces, one thing at a time starting with the lowest hanging fruit. Has Argentina, Venezuela, Cyprus taken everyone’s money? No, so why do people think that is going to happen in the U.S. especially with all the guns we have. Will all the money be taken from our armed service personnel and from law enforcement? Doubt it. The people I follow believe things will play out over the next couple of years. The U.S. is not Greece, Cyprus, Zimbabwe etc…as some say. There are some major differences. I also do not believe that the U.S. is a third world country or that the U.S. is in a depression that is as bad as the 1930’s depression as some claim. Yes the U.S. is headed that way but we are not there yet. That is where I am coming from. It seems many others on this site side more with Bill Holter’s scenario. Everyone needs to make the best decisions for themselves based on what they believe. No one has a crystal ball and probably everyone will be wrong to some extant.
As far as that ZeroHedge article that you gave I agree for the most part with what it says. The FDIC has done a very good job handling bank failures and protecting depositors in the past. However the FDIC has never had to handle a bank failure the size and complexity of the TBTF banks. They of course have plans on how to do that but until it happens we will not know how successful it will be.
And I apologize for my remark questioning your intelligence.
JMILLER
This is how much time you have left.
http://www.usdebtclock.org/
Once the interest paid exceeds tax revenue the U.S. will officially be in default.
We can argue over what the banks will or won’t do, but I can tell from first hand experience in my family what they have done in the past when they call their notes due. They will take everything you own, including the shirt off your back to cover their interest. Forget about the rule of law. They own the courts and the judges and the politicians. Oh and by the way the United Nations determined just over a year ago that bank deposits are not considered real money. So what does that tell you?
The bankers are the ones who have stolen the wealth from this country and the entire world with their risky derivative investments. I can guarantee you one thing, when the time comes there won’t be a bunker deep enough for them to hide in. Payback ..well you know what it is?
Correction it was the G20 instead of the United Nations.
http://www.bloomberg.com/news/articles/2014-11-13/cash-under-mattress-may-be-better-than-g-20-bank-opening-line
Jerry,
To be more accurate it was uninsured deposits that was no longer money according to Russell Napier. I have read all of these kinds of articles before. But thanks any way Jerry.
Can we say big gov paid trolling?
If you are indeed so wise come speak on the show …
xas,
Just because I do not agree with those that believe in the “at any moment complete collapse of the global financial system” and in some of the silly conspiracy theories that some do, does not make me a troll. So get lost or get a brain.
Do you work for the administration? 🙂 ( Smile when you say that….pilgrim)
No Jimmy I do not work for the administration.
Good point on the automatic stay deal with the ISDA, but it’s only for 48 hours, and it’s voluntary. Asset managers and hedge funds can still grab the collateral immediately. See here — http://www.bloombergview.com/articles/2014-10-14/banks-agree-not-to-blow-each-other-up-too-quickly
Agreed also that the FDIC pays the insured depositors and then stands in line to get repaid, and that it has a $500B credit line with the Treasury. My point was, who is going to pay that money back? It will break the smaller member banks, which will have to sell out to the big banks, with further and further consolidation until we have one big private banking monopoly creating and controlling our money supply. TBTF has not been eliminated; it has been instutionalized, apparently intentionally.
Ellen,
Not sure if you will check back here and see this post but I am glad to see that you responded. I know that you are knowledgeable about the banking system and for the most part I agree with what you say on your blog and interviews. I did know that the derivative stays were temporary however I question that they are completely voluntary. The Reuters article that I gave states,
“Mandatory rules will also mean that another big user of derivatives, the asset management industry, will have little choice but to accept stays.”
I do believe that these stays, though temporary, may be a benefit in minimizing the damage.
You ask who is going to pay back the money that the FDIC borrows. The small banks sure can’t afford to do that as you correctly state. My belief is that in the end it will be the taxpayers who will have to bailout the FDIC insurance fund. There seems to be only two choices that I see if and when one or more of the major banks fail and they have derivative counterparties that claim the collateral. The first is the Treasury giving the FDIC one or two trillion dollars to make sure insured depositors do not loss money as guaranteed by the government which very likely will have some negative consequences, how severe it would seems debatable. Or the government reneging on their promise and allowing insured deposits to suffer losses which would undoubtedly cause banks runs, and probably a collapse of the financial system and with it the economy. Your thoughts?
I think you are far too pro a clearly broken, corrupt, illegal and immoral system _ which is very suspicious here at WD. Troll?
xas,
Just because I do not agree with those that believe in the “at any moment complete collapse of the global financial system” and in some of the silly conspiracy theories that some do, does not make me a troll. Sorry that you do not like me correcting people when they are wrong or interjecting another view that has as much validity as anyone else’s.
when ellen says the deposits are “theoretically” insured, she means that the fdic only has approximately 1% of the money that would be needed to cover the depositor’s losses. this is not even close to enough during a systemic crisis. the rest has to be approved by congress which means that your account will be frozen while this is worked out. at best, you will be allowed to withdraw a small amount everyday until the system is fixed.
I think the operative model to look at is what happened in the MF Global collapse. The client accounts were raided to save the firm and their money ended up in Jamie Dimon’s Chase Bank to pay off CDO bets gone bad on European sovereign debt. That money had to be partially clawed back through the court system after an extended period. Even then many of the client accounts never recovered what they lost.
Corzine and Dimon are both free men. They will only play by the rules if they’ve written the rules and it benefits them. They are ultimately crooks with a patina of legitimacy.
Greg,
I’m going to repost this article for those who might have missed it.
The end game is here. You may want to make final preparations.
http://www.reuters.com/article/us-china-gold-idUSKBN0UJ0J520160105
Once the Gold Price Fix goes active in April the central banks will loose control of the markets because they will no longer be able to manipulate gold prices to maintain the strength of the dollar. Make no mistake the Chinese will reset Gold prices much higher than they are now because they are planning on using it to backstop the Yuan.
“A yuan fix would not be seen as an immediate threat to the gold pricing dominance of London and New York, but it could gain momentum if China’s currency becomes fully convertible.”
True perhaps – but only in the context that no one knows (as yet) just how much physical gold the United States has vs. China’s holdings. And that doesn’t mean speculative ‘ounces in the ground’, it means mined, refined, cast and ready for inspection & audit…
Once the United States places itself in the unenviable position of having to stop gold sales to Hong Kong for reasons of ‘national security’, global finance will turn its gimlet gaze towards Fort Knox… In an avalanche of mental clarity, it will then at once become evident to all – both naysayers and sound-money advocates alike, how important gold is to the viability of a nation’s currency and by extension, its overall economy.
One can let his imagination run wild with the possible outcomes (none positive for the U.S.) from there.
The Chinese are in worse shape than we are Jerry. They do not have the ability to replace the us as the driver of the world economy
Mark it may appear that way, but come April when the Gold benchmark is set by China, the curtain will be pulled back exposing the fraud in the United States putting an end to the straw man arguments and the paper markets created by the central banks. Its for all the marbles.
Jerry, I am in agreement that the US financial system is terminal, that does not change my opinion that the Chinese do not have the sophistication, experience, free market mindset, or cultural understanding of the global free market economy to successfully drive the global economy. The entire world is fiat. When the dollar collapses (decades from now imo) the entire world collapses
This is called lowering the lifeboats in preparation for separation.
http://www.reuters.com/article/us-china-yuan-midpoint-idUSKBN0UL07Z20160107
Many are scratching their head at the actions of the PBOC? It doesn’t make any sense…. unless you know the objective. Separation from the dollar. The PBOC of China has planned several stages of Yuan devaluation, in preparation for Gold pegging in April. How else can you escape a bubble? Deflate it slowly in stages, or burst it all at once like the Fed just did in December by raising interest rates?
Greg,
I hate to keep beating a dead horse, but it seems rather obvious to me what the Chinese are planning on doing. They have broken all records with their gold purchases, and will continue to devalue their currency.
http://www.reuters.com/article/us-china-gold-reserves-idUSKBN0UL13H20160107
Launch time April 1, 2016
Colonel Treadway’s posts have always struck me as satire, much like a neocon version of Johnathan Swift’s “A Modest Proposal”. That was until EDDIEMD posted a LinkedIn profile of Rich Treadway, Booz Allen Hamilton employee. BAH is very same defense contractor that employed Edward Snowden.
I’m initially thinking PSYOP, but a brief internet search pulls up a movie roll Why We Fight (2005 film) as himself and referenced in the book The American Way of War by Eugene Jarecki. Colonel Treadway is a distinguished Air Force commander, military scholar, Air Force Academy graduate, and apparently a “true believer” in military industrial complex and the Neoconservative way.
That said, I think Colonel Treadway would be an excellent interview as one of USA Watchdog’s guests.
Keynesian Economics 101
Lesson 4: War, Natural Disasters, and Destruction Boost Economic Growth
http://theaustrianinsider.com/wp-content/uploads/2014/08/Lesson-41.jpg
Col. Treadway’ has offered his ‘solutions’ to we Watchdogs on at least 4 occasions in 2015. On 8/23 the murder of 23 million people in Syria; 8/28 the murder of 77 million people in Iran; 9/1 the murder of 143 million Russians. On 10/9 The Colonel really puffed his chest and dropped the big one, the murder 1.57 BILLION people. Sorry Buck or whoever you are. Facts are such pesky things. It is also a fact that it was your ‘true believers’ who were responsible for the world’s genocides.
War is the answer.
No …
War is to hide the evidence.
It follows the financial crimes. Big scale crimes that is.
A crime to cover a bigger one.
Mohammad
I agree with Dr Muhammed war is a crime to cover for failure Do people NEVER learn from history
Nicely put Mohammad.
Who will take care of you when you are in need ?
Are you the one on linked in with Booz Hamilton?
Please answer and maybe come on the show
Does it matter if I am ? If you really want to understand where I am coming from, you can check out the documentary Why We Fight. We should never relinquish our enjoyment of killing terrorists. There is nothing as nice as bombing the piss out of terrorists who are misguided enough in the belief that they are safe in their beds. Then out of nowhere, one of our B-117s turns them and their whole family into vapor. It is a rush I kid you not even in my old age.
“People don’t want wars. Politicians, bankers, and corporations do.”
-Unknown
I appreciate your service. I enlisted at 16, during Vietnam. Did nothing heroic. Left the Army and sailed in the Navy. Did nothing heroic. Saved refugees of Vietnam in 78. On the USS Whipple, FF-1062. Re-listed for Grenada, in the Army. Did nothing heroic. Missed Gulf 1 as a Reserve Navy Seabee. Did nothing heroic. Enlisted for Gulf II in 2003. Did nothing heroic. Assigned to a Special Forces camp as security. Did nothing heroic. Got a son in Special forces (Green bennie). I don’t want a dead hero.
Maybe we could just pinpoint a half dozen “”””””individuals””””””…..and break the cycle. Save a couple of million people ……and be heroic. 🙂
Well said James.
Treadhead – You forgot to mention the question which is…
What is the best way to waste a country’s human and financial capital?
Rich treadway If you really are in the airforce, you are a sick bastard and you are the type of people that are the problem .
Rich,
Did Jesus not say ‘Blessed are the peace makers’!
War is destructive and only the Bankers win!
Rich, would you put your sons and daughters on the front line
to die for the elite?
America is always at war!!!
Wake up Rich, you run a fools errand!
Greg, just lost two small businesses on main street here on the western front, guess what business is still alive, doing well, and thriving situated between those two now gone small businesses; a major bank! You know what else, the sheep stand in line outside in the cold rain to use the ATM of that same bank as they have no cash in their pockets.and rely on that criminal institution for their daily bread. Shameful what we & this generation of Americans have become; sheep to the slaughter comes to mind. ab
Ellen Brown’s idea of publicly owned banks was pretty thoroughly shown to be a bad idea in past discussions at The Daily Bell and in detail within articles written by Gary North. However; a Panarchist might say that as long as all the revenue government took in were voluntarily given, and most importantly the monopoly power over printing money were taken away from government, then I suppose there would be nothing wrong with publicly owned banks. …Fat chance of that ever happening, eh?
The US government does not have a monopoly on printing money. Currently money is issued by the Federal Reserve, which is an independent entity owned by the member banks. The Fed does not need government approval to implement its policies.
Its difficult for me to get my mind around how utterly insane we must be to allow private bankers to create money and loan it to us at interest
That makes two of us Frederick!
In the case of the Fed, it is astonishing that this farce has persisted for over a century. This is the biggest financial con in the history of mankind. The fact that the Fed has been the central bank of the world’s reserve currency for 70 of those 100 years means that the repercussions are destructive on a global scale.
I regard the Fed as the foundation and the funding source of most of the global financial and military chaos we experience today.
Cheers
Col
Frederick, most people have no idea it’s happening. It’s certainly not taught in school. I wonder how long it would continue if it were common knowledge.
Diana Dee Jarvis, how do you know the Fed does not need government approval to implement its policies? Could the Fed be a quasi-governmental cartel? How would you know for certain it was not? Is the Fed transparent? Is the government? There are times the Fed does what the President tells it to do, would you say that’s an indication it is not ‘independent’? Why would you say the US government does not have a monopoly on printing money? Can anyone else besides the Fed print money? Why can’t the free market decide what is, and is not, money?
It seems to me that whatever power there is that can engineer the election of the president of the US, and induce a chief justice of the Supreme Court to switch from Constitutionalism to flunky for the Left, is more than enough to handle ideas such as Ellen proposes. As for the armed citizen, they figure disarming would be desirable, but as that won’t happen, it’s just another obstacle to overcome, but it will be overcome. Fiddlin
Interesting interview.
It is probably a good time to pull cash and spend on more survival goods. I believe that one should keep minimal money in the bank.
Buy silver, lead, non-perishable food, seeds, equipment for long term survival.
I have noticed that the administrators at the bank are very suspicious when one makes a withdrawal of more than 4,000 dollars. Obviously they are on alert and probably report on amounts less than 10,000.
Greg: Pastor Lindsey Williams has said for years that the economies of the world will be collapsed via the derivatives markets. Ms. Brown is correct by late to this info.
Pastor Willaims’ is about to release new info in the next week or so- as I have told you. I know Lindsey and do not promote him but this is the latest info on his site, remembering that the elite’s only allow him to say certain things at selected times.
The Elite have just told Chaplain Williams everything he has wanted to know for months. Answers – Finally. This information will be made available to you. Please be sure that we know how to contact you by email. Watch lindseywilliams.net for future ANNOUNCEMENTS. – See more at: http://www.lindseywilliams.net/#sthash.uP4vMhqX.dpuf
Al,
That is great news! But alas I see it will cost me $97.00? Go figure I wont be buying his info,but the elite can send me an email with that information….for free?
What a terrible idea she advocates. The big banks and the government are already too close- that is why the government hasn’t taken the obvious step of breaking them up. When Ma Bell became a monopoly, they broke it up. When banks get so big they can take down the financial system they should be broken up. If they would use less leverage they could get bigger without risking the whole financial system, but that’s a whole nother conversation.
Ultimately, we have to find ways in place to decentralize everything rather than this push for centralization in everything. There is no redundancy and no firewall when all banks and economies are globally over-connected.
I am just a dumb pollack but It is simple to me, Go back to a gold standard, and if a bank takes in one million dollar, they can only loan out one million dollars. How difficult is that.
Sounds reasonable to me Jim but the banksters who run everything wouldn’t be able to rob us sheeple blind under that system so it will not happen anytime soon if ever
That is essentially how every insurance department in the U S does it.
For every dollar of coverage you must secure a dollar in reserves….that is why life insurance companies never fail.
From the mouths of babes…..er…..’dumb pollacks’ The main obstacle to that is that the bankers would have to start wearing barrels…ain’t too comfy….
Ellen Brown was a candidate for State Treasurer in California in 2014 for the progressive left Green Party.
If your correct. Thank you for the info. (no offense intended :)…)
Team,
The question we need answered is – is there any financial instrument we can place our money in that is safe from a bail in? Is physical gold in hand or cash under the bed the only solution??
RM if your looking for a sure thing in fiat currency – Store it in Heaven. Give to the poor, and needy.
Good one JC!!
Greg
I looked into finding alternatives but haven’t found any sound solutions. PM have limited practically since there is a conversion cost (via broker fees), PMs would be held as an insurance after a full collapse. I would consider selling PMs until after a full collapse.
The issue is to find a method to store cash between today and a collapse. If they are going to make cash illegal or difficult, you bet your last silver dollar that they will also do the same, to PM’s, but only worse. Recall that PM ownership was illegal in the USA until the early 1970s. At some point they will enact laws to make it illegal again.
My thought was to see if there were any companies that offered cash vaulting, that is not loaned out can is not subject to bailins. There are companies like Loomis, Brinks, etc that offer cash vaulting services, but these companies are also banks and FDIC insured which probably makes them subject to bailins. There are some oversea cash vaulting companies but, its difficult for americans to move money out of the US (IRS will come after you). Plus overseas financial institutions are even more risky than US fin. institutions.
Putting Money into safe deposit has it risks since if you later need to purchase a expensive item (ie new car, home, etc) the IRS and other Gov’t agencies will come down on you either for tax fraud or that your trafficking narcotics. Also Safe deposit boxes are probably fair game to bail ins, as was PMs during FDRs 1933 banking holiday.
FWIW: I took a large sum of money out as cash ($100 bills) right after Bear Sterns collaped in 2008. I am worried about how to get it back in the sytem for major purchases. Few Business now accept $100 bills (either because of counterfiting, Theft by employee or robbery). So to spend my $100 bills I have to go to the bank and covert them back to $20’s, If I walk in with a few thousand to buy something and try to convert it into $20’s the bank is going to report me to the IRS.
Gold as savings, Silver as a checkbook and cash till it becomes toilet paper.
Thanks for this interview Greg. Ellen Brown’s forecast for what is coming is not at all unreasonable given Dodd-Frank. For those people who think they can’t take your money and leave you standing in the rain without an umbrella, think again.
The legislation made what will happen legal; the national debt and box the FED has put itself in make it inevitable. What happens the day after the bail-ins hit home is the question. There will be no warning (other than interviews like this).
Coffee is good this morning.
Greg,
If we do not have a grasp of the culprit we will never understand.
Am not sure if she knows and omits or she does not know?
The issuance of currency we have today is ESOTERIC. It is Satanic religion disguised as monetary policy. Those offsprings of the Venetians are practicing a religion when doing what they do.
Fractional reserve banking is the metaphor of the whole that is broken into pieces.
It is deep and dark and no one talks about it.
The Bullion concept was way before the coins were minted.
The bullion goes back to the same twisted idea which is the whole dismembered and fractured to pieces. That is not by any means Jewish , christian nor muslim belief…It is Satanic at best.
The issuance of a currency that is a debt and the need to issue more debt to pay the interest on it is the core of this ritual that goes back to Babylon.
Last president tried to issue currency by the treasury that is not born in debt, that can be paid back because it is not TAGED WITH INHERITED INTEREST, could not finish the job and his executive order is still out there for history.
I have to admit they have a lot of tricks they are pulling one after another, those tricks are keeping the current system under control UNTIL THEY DECIDE when to move to the next system.
If we do not diagnose the problem we cannot cure the disease.
If we prescribe the wrong medicine out of misdiagnosis we kill the patient.
THE PROBLEM IS SATANIC RELIGION PRACTICE masked with wars,financial turmoil by some psychopaths.
THE SOLUTION is sticking to our beliefs like there is no tomorrow, that is how those psychopaths cave from within.
You cannot out smart them, you cannot front run them, they are dark and very good at what they do, amazingly good at it.
BUT YOU CAN DEFEAT THEM with the light of belief in god, almighty god, the only ultimate power that created us, them and the universe, that light that is no matter how small it is will kill their darkness.
Mohammad
Mohammad, I have asked Ellen a question on Public Banking above (hope it gets posted) because it is all about living within one’s means.
My issue with your post is your last sentence:
“BUT YOU CAN DEFEAT THEM with the light of belief in god, almighty god, the only ultimate power that created us, them and the universe, that light that is no matter how small it is will kill their darkness.”
If you had used the word “knowledge” in place of “belief” then there would be NO contention because knowledge is based on facts. Beliefs still have to go through trials before they enter the realm of “knowlege”.
The word “light” is a fact both in the physical and spiritual sense.
The word “belief” was introduced with RELIGION to control and own man.
See the Event Timeline for clarification.
The Prophet also stressed on the concept of living within one’s means. The tithe was introduced as a voluntary measure to offset instances of misfortune.
You got it turned around.
Belief is based on knowledge. but not it.
Your brain thinks, your senses input.
Your heart sees and BELIEVES.
Mohammad
Please see difference between Knowledge and Belief.
This one is even better.
And there is more.
Dang homey…….cut to the chase. Bullet format. Blunt evaluations and real time analysis. As they say…..tactical intelligence….I NEED IT NOW……:) Love you Dude. I sense your real people.
Oh this great talking about the G-4 on front of the 25 screens ? Really ? What are they blocking the view from the front trailer ?
I think it’s aliens at the back door dude. Make sure they knock twice. I do.
Yes Luke, everybody needs the knowledge and Ellen Brown provides it.
Boy, Greg, the other side is determined not to get Ellen’s information out. I opened your email as I normally do this morning and a huge red screen met me which I have never ever had haappen in all the years I’ve been on the internet, saying ‘this email was reported as an ‘unsafe site’ and not to open it, etc. because it could harm your computer. I did it anyway! LOL! Who is doing this stuff??? Have you had anyone else reporting such nonsense?
Best Regards,
Joni
Joni,
Did not know they were so worried about little old me. Thank you for the report.
Greg
Good interview.
We as Citizens can not seem to make needed changes in our local and state governing bodies so the idea that we can change anything at the National level has become a farce.
Fake laws allowing those actors to get every advantage go unchallenged.
I believe the German Nazis made it legal to put all those folks into concentration camps did they not?
In the end, natural Law seemed to disagree
I wonder when that type of reset will be forced on our criminal office holders.
How many are “just following orders” in our current system?
Criminals in our system seem to love making their interests legal while disenfranchised folk are left to fend off the effects of those efforts by themselves to no avail.
Try convincing the local police they have no legal standing in Constitutional Law and what will happen?
Still think we can make meaningful changes at the National-international level?
Think the Provost Marshall will walk into the Congress and Senate to remove the traitors?
We must teach as many Americans as possible of the options given to us by our Constitution and help them be brave enough to act on that Knowledge.
Hi Greq:
I own a small business in Arizona. The last time I went to the bank to make a deposit for a well established healthcare business of 12 years (with a cash deposit of under $600.00), for the first time, I was asked for ID to make this deposit. I was informed that from now on, ALL cash deposits to this bank require ID, and it doesn’t matter if the cash deposit is from a business or personal source. When I asked why, the bank official bluntly said that they’ve started this new policy because they’re checking for patterns of money laundering by all depositors (I felt like a criminal standing there). Banks are really clamping down…
Linda, a few months ago i went to my bank and asked to take out $3000 , they asked me what I wanted it for. Its my money, why do they need to know . The financial end is near.
Jim:
The apparent, ultimate end game is a cashless society so that they can keep track of every cent.
At a time when the western world desperately needs strong leadership
it worries me to know that my families future is in the hands of weak
incompetent, sycophant appeasers such as Obama and Grandma
Yellen of the Fed who simply don’t instill confidence that they even
know what they’re doing. Neither is a leader. Both are followers
who are easily influenced and dictated to by a greedy banking cabal.
It won’t git better. Maybe you should think about getting outside the box and maintaining a lower profile………..Spend less, save more, live modestly…..and avoid the govment. 🙂 No offense.
After listening to the interview I thought, “I’d like to see an interview with the FDIC head, or Senate Banking Committee member to address these points”. Get them on record as to why bail-ins, using depositor’s funds is justified. Then ask why the banks were protected from their derivative exposure? Its outrageous and they need to be called on it.
Buy a rope and save the FDIC the trouble. It’s cheaper for they rest of us. 🙂 Dang homey….do you really believe these thieves?
Wayne. They would be fired the next day. In one week they would be tarred, and feathered. According to Dan Rather they will never tell what they know.
sounds good to me and tar is cheap right now Not sure about the feathers though
The ultimate torture is to light the feathers.
https://youtu.be/hFWZ925zK0A
I think Ms. Brown is technically correct on what could happen. Would the government let the banks take all our bank deposits like in Cyprus? That’s a big unknown. Corzine and JP Morgan Bank grabbed all the depositor money in MF Global and he got away with it. If a crisis hits the banks can grab all our cash instantly and leave the mess for the government to sort out. That’s exactly what they WILL do. Save themselves first. The solution is to get your money out of the banks. Where to put it? Put your cash into a federal money market fund. You then become a direct creditor of the US Gov with no bank as intermediary. Vanguard’s VMFXX money market fund is 100% in tbills. Save your cash there and do wire transfers to your bank if you need cash. No need for FDIC insurance either. This also provides great flexibility. Through a Vanguard brokerage account you can buy an allocated gold fund or whatever you want. With a bank you are trapped and at their mercy.
Tom,
In Cyprus not ALL the depositor’s money was taken. And Corzine and JP Morgan Bank did not grab ALL the depositors money in MF Global. Your exaggerating. And Vanguard’s Federal Money Market (VMFXX) is NOT 100% in T-bills. Only about 7% of that fund is in T-bills. It is Vanguard’s Treasury Money Market (VUSXX), which I have money in and is closed to new investors, that is 100% in T-bills.
Tom is not exaggerating. He is just telling the truth…”as he sees it”.
Yes as he sees it but it still is not really true.
Always nice listening to socialist properly identify a problem then provide a “public solution”
Well said brother. Their battle cry is “equal outcome (with everyone else’s money) for all”!…especially those who don’t want to work or produce a damn thing! lol!
lastman they are known as parasites
Enemy of my greater enemy becomes my friend. She may be a socialist, I agree it is the image, but Ellen Brown is a well informed person that wants to help save us from becoming a third world country. Without banking function that is what we are.
Sounds good. If I’m wrong…..somebody give me facts…
The west has yet to come to grips with why China is devaluing its own currency. The answer is what we refuse to accept. They are planning on breaking free form the debt based system of the dollar into a new system they have created, pegging Gold to the Yuan.
http://www.bloomberg.com/news/articles/2016-01-05/asian-stock-futures-mixed-after-muted-rally-with-oil-below-36
When it comes to making money, I could care less about the prestige of a company. The bottom line is, “what’s it going to cost me to do business with you”? The Chinese have learned this lesson. Countries will flock to them to do business, as long as they can move goods and services cheaper with the Yuan than they can with the dollar.
Check out my post above. The Chinese gave the central banks the middle finger and said “if you want to do business with us, you’ll go along with our plan to reset Gold prices”. What choice do the central banks have? The Chinese have covered all their bases by creating AIIB and CIPS. The central banks can no longer blackmail them with SWIFT and manipulating Gold. The only thing they have left is a False Flag event to stall of the inevitable.
I’ve been going to your website weekly since last summer Greg and I have learned so much. My husband I have the care of seven children and it feels like we are getting squeezed a little more each month. Healhcare Insurance just took out another $250 on us starting this month. I have a question. While our family feels some relief from lower gas prices, we know this will come back to bite us. Any idea what an optimal gasoline price would be? One that shows a balance between profits on the one hand and an optimal adjustment for inflation. What is a good gas price? I live in the Rocky Mountains.
I enjoy every one of your guests. Something to learn from each. Ms. Brown seems like an amazing scholar and not subject to hyper alarmism.
Shannon,
Saudi Arabia said it needed oil to be around $100 a barrel. I think the fracking industry needs it to be around $80 a barrel. No matter what, oil needs to be much higher as exploration and extraction is very expensive even on a rich easy to drill oil field. Thank you for your comment.
Greg
Greg,
I have been told by people in the oil industry that they need at least $60. a barrel to break even. Defaults are on the way.
Greg, yes and I need a twenty dollar bill to buy a bag of groceries like it did 20 years ago too! Two much oil out there, two many dollars too, price and buying power go down; it that too simple or am I just stupid?
Greg,
i suspect that oil prices are suppressed with PAPER oil the way gold id suppressed with PAPER gold.
There is no way in this time that an oil barrel will be extracted for 30+ Dollars.
There has to be OILEX similar to COMEX somewhere and if you dig enough you will find it.
Mohammad
That may have been true (Oil Price) for the “Players” on the way up (paper manipulation)…but the players are no longer working in numbers…many have pulled out of the commodity speculation sphere. Price is a factor of over supply….world trade is in the dumpster…..yet the ME is producing at record levels. Saudi Kingdom is officially at WAR with the upstarts from the Fracking World. Payback for the stolen gold and the worthless UST ….aha !!! Who are the new friends of Iran again ???
Kiss the Petro system goodbye….meaning the USD will lose its crown. The whole world will feel the pain when that happens and China and its brethren BRICS nations will not be able to escape/avoid it.
Also the FED “PUT” no longer exists…so the carnage will escalate. They have no bullets left. All Bubbles will unwind at increasing velocity.
I used the phrase getting out of the system before Jim Sinclair did. This was more about not playing their game and using their toys.
SIG
I totally agree with you. The U.S. Titanic is going down. The BRICS are getting off. And the American people are totally clueless as usual.
The detractors will feel the pain of living in denial city soon. Unfortunately the rest of us are paying because of their ignorance.
Oil is exactly the opposite of gold. “OILEX” kept the oil price artificially high until there is no more room to store excess oil.
COMEX is keeping gold price artificially low until there is no more gold in the vault.
The fault in your premise is counting the face value of the dollar is the same since the 80’s.
100$ a barrel now is equivalent if not cheaper that 30$ a barrel in the 80’s.
So 30$ a barrel now is not increased supply.
Needs some digging around to find out that it is a paper oil that dropping price so fast. cannot be increased supply.
Let me here give you a glimpse of what it takes to produce oil:
People may think that oil production is a matter of digging a hole in the ground deep enough to get to that lake of oil underneath and pump it out by gas pressure above it. Although that was the case in sixties it is not now.
Those oil wells have reached the depot that is comprised of PORES in the rocky/clay layer and they need always to keep those pores open by using some weak aides that are pumped in to keep the well producing, the older the well is the more chemicals they have to pump in in order to literally resuscitate the well.
That is in the gulf that is considered the easiest oil access it can be.
Besides those acids they need to pump in chemicals that have anti corrosions that are very expensive to keep the pipes from caving in because of corrosion that happens from those weak acids pumped in.
All those chemicals are EXPENSIVE in todays dollar value. they are going extremely up the way your eggs, bread, gas bill is going up (hidden inflation).
the direct vertical wells are now demising and getting out much much less than what they did before, that is why in the gulf recently they have to go HORIZONTAL wells to tap more area surface for those pores that need to be rescucitated in order to produce.
The production has reaches the turning point of the hockey stick on the exponential curve ( but here turned upside down so going south).
No more real cost effective deposits are discovered for years no matter what they tell you.
So in no way that term is accurate:
“turning the faucet all the way up”
IT IS A LIE.
They have been maxing production for tens of years.
IT IS BLUFFING.
and it has to be a different mechanism to bring the price down to 30.
100 a barrel is a NATURAL MARKET value of the barrel factoring in how much dollars has been printed.
30 dollar a barrel is a FUNNY price for oil that is not right nor it does smell so.
Mohammad
Many people would describe viewers of this site as doom mongers; always predicting a crash that never happens. But I think what is happening is like boiling frogs. If you just add up the different things that have happened over the last 18 months including interest rates going negative in Europe, the bail in legislation, the turmoil in the Middle East where the West no longer knows who its allies are and who its enemies are, the 70% drop in the price of oil and other commodities and underline this with fake inflation figures where the average person is getting worse off or has less worker rights. We are truly in the biggest crisis for years but like frogs being cooked many people are oblivious of the changing heat and believe if the news tells them there is a recovery, there is a recovery.
Right on Charles.
Mark Twain once said….If you find yourself on the side of the majority…it’s time to evaluate your position….Thats true in our society. FIGHT for you and your families survival.
I think this may it…http://www.armstrongeconomics.com/archives/41527
A mattress made of precious metal is extremely hard to lie on, but damn, do I sleep soundly at night.
FC Allen Ols ,and the rest of the garage got a good kick from your posting … THANKS
Allen loved it.
JC, would it be rude to ask, what is the ‘rest of the garage’ ?
People that visit. Neighbors, and family. Sometimes the spirit of God speaks into my heart, and corrects me. I live in my garage to practice homelessness and poverty. I hope I never forget where I came from. When the grid fails I will not miss it much. If I told how I live you would say no one with wealth would do it.
JC, you sound like a wise person…………I too, only live off what is necessary to survive without any extravagance, whatever remaining wealth I have left, I look upon as insurance against the day I’m unable to work or financial Armageddon.
FC. Living like you do will change your neighborhood. Most of my neighbors feed me knowing the stock of food I have. Yesterday one said she needed to get stocked up. I asked why? With all that I have you will not need food. She was shocked. I prep for myself then for others.
Precious metals make a good fertilizer for planting under a thorny rose bush too!
But the government has metal detectors!
I saw Special Forces cadets sleep on plywood…..WORK hard and sleep comes easy. 🙂
I like this Ellen Brown, she gets down to the fundamentals of what capitalism is all about. America’s corporate based economy is no longer working for the people on earth. I don’t understand her concept of a public utility bank that holds your money risk free but I like it. Is there a second kind of public bank that prints up money to loan out and extinguish the principle when repaid? Or do all loans have to be made up of citizens saved and directly invested money?
In today’s financial world, savings have been made mostly obsolete. Many people do one of 2 things. 1) They buy shares of a corporation and hope the price of that share increases in terms of dollars. 2) They loan money in an attempt to compete with the fed which can loan at near 0%. This is not a great deal for the people.
Banks profit from this scenario in 2 ways. They essentially buy shares of cooperation’s and hope the value goes up. They also make loans at greater than 0% and make money on interest. What makes banks such a profitable industry is that if the share prices don’t go up or the loans don’t get paid back, they use the too-big-to-fail clause and the government forces all people to chip in and pay the banks money. It’s like the people have rediscovered bloodletting with leeches!
I imagine a third possibility of what people could do with their saving if government would simplify the process. Citizens United may need to go by the wayside but that’s what democracy is all about.
People could take their money and start small business. Imagine, buying a property, installing a kitchen and some furniture while hiring people to prepare locally bought food to the public. People gotta eat, right?
Imagine some retired guys get together and put up a garage and buy a bunch of tools. They can hire a mechanic and start fixing cars! This in-turn will drive down the cost of car repairs locally leaving citizens with more money to spend on the economy, or start their own small business. Capitalism worked before and maybe what our country needs is a real capitalist revolution.
The worker is worthy of his wage. The borrower is slave to the lender. Spend less, save more, live modestly……He who does not work, shall not eat. Dang good advise. 🙂
Any way they want ,any time they want , any reason they want , the banks can now take our money?
They always did, we are noticing it now…..!
Mohammad
Pull it out in small amounts, deposit when needed. DANG HOMEY.
Fantastic Interview Mr. Hunter. I would suggest that the pieces are coming into place. Several bail in provisions such as here in Canada in the 2013 Federal Budget. Civil policing exercises like Jade Helm in the US. Musings of moving to cashless transactions, and the paper suppression of gold and silver. One would have to be deaf, dumb, and blind not to see what is in store…….it is only a matter of time now.
Thanks
For those of you who are still wondering what a debt based system looks like, here’s your sign. In my estimation (which is my interpretation) when the interest owed exceeds tax revenue that would trigger a default.
http://www.usdebtclock.org/
Now you know why the BRICS are getting off.
Great show, Greg! We should all thank Ellen Brown for the forewarning that we could be losing our bank deposits in bail-ins. I call it plain theft of our money. It is obscene that the bribed legislators passed the legislation that sanctions the banks stealing from us. The super-priority of derivatives in a bail-in is unjust and turns things on their heads. Why should the the banks’ derivatives be considered secured credit, but our hard-earned money not? If anything, our hard-earned money should be considered more real.
I know you probably have many viewers who subscribe to the hate-the-state meme and wouldn’t want to see public banks, but look at the example of public roads–they work great! Better to see the profits banks make without work–creating money out of thin air when they make loans–go back to the people because the people own the banks. It works in North Dakota with their publicly owned Bank of North Dakota and it can work for the whole USA, solving many of the country’s problems. Public banks as public infrastructure makes a world of sense–what we need to get money to the real economy and make our economy dynamic again.
Really nice comment.
Thank you Ernie…
Did individuals in the past….deposit their gold and silver? Paper is designed for the outhouse. 🙂
06 JANUARY 2016
Bernie Sanders On Wall St Reform and Financial Policy
Great interview Greg
I have the utmost respect for Ellen. She is such a rare gem in this world when she so bravely and profoundly challenges the merit of the establishment banking system and particularly that of the Fed.
The only other people that I can think of that even remotely rival her in recent times are Ron Paul and Alan Grayson. I will never forget Grayson after he made a complete fool out of Bernanke in a congressional hearing in 2009
https://www.youtube.com/watch?v=n0NYBTkE1yQ
In the same year, he revealed the completely farcical “work” of the so-called Fed Inspector General [Elizabeth Coleman] in this clip entitled “ Is anyone minding the store at the Fed”
https://www.youtube.com/watch?v=PXlxBeAvsB8
Ellen to me is absolutely unrivalled though when you consider that she not only points how out how utterly unsustainable and farcical the present models are, but she actually puts forward alternative workable initiatives and models of how transactional, investment and central banking could be completely reinvented.
Cheers
Col
I’m sorry , but Ms. Brown philosophy sounds more like communism not capitalism. Did I not hear her say we need to do what china is doing? While glorifying FDRs socialistic work program during the great depression . Yes I agree that if the government can issue a bond it can issue a dollar and central banks are a menace to a free socity. However without true money (gold & silver) backing a paper currency system we will remain exposed to corrupt politicians who will seek our enslavement through debt and inflation. You cannot sustain infinite growth in a finite world by today’s economic standards even China’s.
“After decades of broken politics in Washington, and eight years of failed policies from George W. Bush, and 21 months of a campaign that’s taken us from the rocky coast of Maine to the sunshine of California, we are five days away from fundamentally transforming the United States of America. In five days, you can turn the page on policies that put greed and irresponsibility on Wall Street before the hard work and sacrifice of folks on Main Street. In five days, you can choose policies that invest in our middle class, and create new jobs, and grow this economy, so that everyone has a chance to succeed, not just the CEO, but the secretary and janitor, not just the factory owner, but the men and women on the factory floor. In five days, you can put an end to the politics that would divide a nation just to win an election, that tries to pit region against region, and city against town, and Republican against Democrat, that asks — asks us to fear at a time when we need to hope.”
– Barack Hussein Obama
October 30, 2008
Could it be possible that Barack Hussein Obama has almost singlehandedly brought down the greatest economy in the history of the world in 7-8 years?
Cruz 2016
Grafique…….yes it sure is, and we knew he was bad…but he’s worse than we thought.
Re Jim Gilly: The American politicians will say and do anything necessary to win their position(s). That includes lying, deception and cover up of their pasts, as well as being bought and paid for by corporations, special interest groups and lobiest. When they win [for whatever reasons] their true colors come out and they often go against what they campaigned for. Look no further than the current Republican Congress. Shame on them!
That being said, some do not actually vote for anyone, rather we vote against the ones we feel are the most destructive. In short, some vote for the lesser of the two evils.
The voting system is also rigged. During the last presidential election many folks complained that when they casts their votes for one party, the voting machines automatically changed their votes to the opposite party. That was not by chance.
In terms of your last statement……”Go to hell”. I have a different place I plan on going to when depart this world. I believe and trust in the Lord Jesus Christ as my savior.
Greg, I apologize for the hi-jack. Once again another great interview! Some out there do not like what Ellen Brown proposes on the banking system but IMO anything would be better than the crooked, wicked, elites that are in control of our banking system now.
Keep up the good work Greg. I now seldom look at any news, even Fox. Love this site, the guests, doggers, and all your hard work.
God Speed.
God Speed.
Although I appreciate Ellen she has never understood that no fiat currency banking set up will work. She believes in honest fiat banking which is a dream.
A former U.S. attorney predicted this week that Hillary Clinton “will not make it to the finish line” in 2016 because she will soon be facing a criminal indictment from the FBI. During an appearance on Laura Ingraham’s radio show Tuesday, famed attorney Joseph DiGenova said that the FBI has “reached a critical mass in their investigation of the secretary and all of her senior staff” and predicted that it would come to a head “in the next 60 days.”
DiGenova, who rose to national prominence during the Clinton scandals of the ’90s, told Ingraham that if Attorney General Loretta Lynch refuses to indict Clinton, there will be a “massive revolt inside the FBI, which she will not be able to survive as an Attorney General.”
FBI Director James Comey has not indicated when his agents will wrap up their months-long probe into Clinton’s possibly illegal “homebrew” email server, butduring a Senate hearing last month, he said the FBI doesn’t “give a rip about politics” and that President Obama has not been briefed on the investigation.
DiGenova said that the FBI already “has so much information about criminal conduct by her and her staff that there is no way that they walk away from this.”
And if Jim Comey, the FBI director, is doing his job, which I expect him to do as an honorable man, she cannot be the nominee of the Democratic Party.
She’s going to have to be charged with the crime. It’s going to be a very complex matter for the Department of Justice, but they’re not going to be able to walk away from it. She and her staff have committed numerous federal crimes involving the negligent and improper handling of classified information. They are now at over 1,200 classified emails. And, that’s just for the ones we know about from the State Department. That does not include the ones that the FBI is, in fact, recovering from her hard drives.
Ingraham expressed doubt that Lynch would be willing to indict Hillary Clinton, given her loyalty to the president, but DiGenova pointed to “vitriol of an intense amount” developing among the intelligence community who will “fight to the death” to make sure Hillary and her staff face justice for mishandling classified information. In fact, according to two of his sources in the FBI, “they are already in the process of gearing themselves to basically revolt if she refuses to bring charges.”
It should be noted that DiGenova has a pretty decent track record when it comes to prognosticating. He accurately predicted that President Barack Obama would shed tears during his press conference Tuesday announcing his executive actions on guns. “We’re going to get a tearful presentation from the president some time in the next 24 hours,” he said on WMAL Monday.
– Debra Heine
PJ Media
Is anybody here a Jack Vance fan?
I like Jack Vance a lot. But i’m unaware that he has brought up analyses or solutions to the current state of man. State and not economics because the current problems are out of the spirit of mankind refusing the daily bible dose to correct him.
Greg you have no idea how folks around here look forward to your interviews. Thanks for your work,
Thank you JC!
Greg
Stretching into its fourth day, seems if the protesters do not stand down it may turn ugly.
Prayers for peaceful resolution to the situation.
http://www.usatoday.com/story/news/nation/2016/01/05/small-oregon-town-supports-ranchers-not-occupation/78299848/
Mohammad
Socialism is not the answer. The answer is drastically reducing the size of government. Capitalism is not the problem. Free markets have ups and downs, but tend to balance out and provide the most benefit for the most people. Capitalism in this country is tainted by involvement with government. I very much agree with Ayn Rand on most issues, except for atheism. I very much believe in a Higher Power, seems foolish not to.
I totally agree with you. Mike.
People like you will save the country.
Ellen has been warning us about the bank bail in for years, and this ticking bomb will soon be devastating countless lives in Europe and US. Thank you Ellen and Greg, I have been waiting for you guys to team up again for another great interview!
Dear Greg, I thank you for interviewing this remarkable and brave lady. Even if only a small percentage of all what she is telling us were truth, we all are in deep trouble. It is unfortunate that the USA government is on the side of the big ‘banksters’ but not on the side of ordinary small depositors. We can not keep the money at our homes. In order to function, we have no choice but to keep our cash in the banks, whether we like it or not. Mrs. Brown says that the banks can confiscate our money any time they find it necessary to save them from their bankruptcy and we are just a collateral damage. In short, the banks cannot fail under any circumstances but we, as individuals, can fail any time, even if we are not making any mistakes.
Who says you can’t keep your money at home? They don’t pay interest.
Matt Smith claims he received a prophetic poem from the Holy Spirit on 12/23/15 about what will happen to America in 2016 and beyond. He was recently interviewed by Rick Wiles from Trunews. Rick does wonderful radio interviews concerning world events from a Christian’s perspective.
In poem, there is a warning about an event to happen 12/15-2/16:
“December through February,
Winter finds itself here,
A sudden event will strike,
And many will be in fear.”
Another catastrophe to occur from 3/16-6/16:
“From March until June,
The spring season shall arrive,
There will be many people,
Found not to be alive.”
The poem further warns about financial collapse, martial law, and that Obama will continue in the white house.
Here’s link to interview:
https://www.trunews.com/trunews-010616-matt-smith-vision-of-a-fractured-nation/
Here’s link to poem:
https://www.trunews.com/matt-smiths-prophetic-poem/
We need to pray, and pray a lot more continuously.
Ms. Brown seems like a very sincere person, but her belief in a government controlled central bank made me flinch. I know people who work for the government, and not all of them are staunch supporters of the public good. (Sarc)
Yea. You are herby ordained…….A PATRIOT……
I will happily ordain her a patriot for you, James.
Time for dinner. Sorry, I showed no self control tonight. I don’t care. I’ll die when G-d is ready……NOT YOU.
Ellen made the provocative suggestion that QE should be done in favour of Infrastructure Building. She made reference to a similar circumstance from the Depression Era.
WOW !!
More credit …does not resolve the issue of the limitation of growth. Real GDP is not trending up…even with expansion of the FED balance sheet.
Manufacturing was offshored to 1) Improve corporate profits 2) Utilise cheap labour 3) Embrace technology without the need to combat Trade Unions.
Technological advancements has and will continue to destroy physical labour jobs.
In some areas it is eradicating white collar workers.
Growth is finite in the world. The expectation that demand would eventually catch up with supply has fallen dead in its tracks. I understand capital utilisation where there is an expectation of future demand…but to do it in an environment where there are no expanding primary industries, which can ensure the credit cycle can continue to flourish indefinitely, is tantamount to pushing on a string. The 1930’s era is a world away from where we are today….population/industry/technology.
China’s QE did produce many cities and other infrastructure….has that resolved their issue or merely created another credit explosion where capital is mis-allocated.
The world got a great boost for the better part of 6 or so years….but that’s it !!!
Same would be true for the QE/Infrastructure solution in the US. Temporary solution.
The Glass Steagall Act re-introduction is the only solution to the TBTF Banks.
Separate their banking from their gambling and quarantine the losses in entities that can /will go bankrupt. A Derivatives implosion is not a zero sum game however it can be arrested from harming the entire global financial and monetary system. Problem is those that make the law are the same as those who control the monetary system. The Bankers will ensure that all participants are not treated equally or fairly. They would rather the larger percentage of the population suffer and the small minority at least prosper sufficiently to enable retention of power and control. This transition is inevitable if the unregulated derivatives were left to implode. Former President Bill Clinton is front and centre for creating the environment we are in today. Heaven help the world should his former first Lady…make the Oval Office her workplace.
Thanks , Sig.
You gave that post your best thinking.
Posters today are great.
Great you have stirred up a hornets nest, now to top it off you need F.William Engdahl as a guest. Expert on oil geopolitics, banking and gold and knows the truth about HELLry.
Can anyone please tell me the name of the board/group that infuses money into the markets to restore stability? It is a US group and I think they came to the rescue last August during the intraday 1000 pt flash crash. Thanks!
The Plunge Protection Team. Google it.
Herby,
I think the official Government name it “The President’s Working Group on Financial Markets.” It is comprised of the Treasury, Fed, CFTC and the SEC.
Plunge Protection Team
I believe its nickname is Plunge Protection Team.
Here is a link to an article in the New York Post, October 20, 2014:
http://nypost.com/2014/10/20/plunge-protection-behind-markets-sudden-recovery/
JCN,
I believe that the “Working Group on Financial Markets” is the group that you are referring to. Also known as the Plunge Protection Team.
Public Central Bank? Public Utility? Ahhh It ain’t worth a CONTINENTAL!
Jeff the main reason I invited her on is to talk about bank bail-ins, and she has laid out a very good case that is coming to a bank near you.
Greg
Greg,
Love your site. Don’t know if you’ll read this, but I’m amazed you didn’t ask Ellen Brown two things.
1) How could such legislation be passed? I mean, rob all Americans savings to save a few banks? Doesn’t make sense? What would happen if that happened? You’d have a few banks, and the “end of capitalism” and no economy. Doesn’t make sense.
2) So what do we do about it? How do we protect ourselves from this? Details? What is Ellen Brown doing?
Thanks,
Mike Tollen, long-time follower
If everyone is in debt, who is it all owed to?
All in cahoot.
Karen Hudes made a lot of sense when she was attacked on this site so she is silenced.
The creditor is the same the debtor.
Double entry book keeping , triple entry book keeping like in bitcoins…what have you.
At the end of the day it is the easiest way to rob average joe legally.
Mohammad
Interesting question Bob
I googled it and got this answer
http://www.businessinsider.com/who-we-owe-federal-debt-to-2013-10
That is the trick that they use to keep the general public in perpetual servitude…
Good interview Greg..Thank you…
Greg,
What’s wrong with there being no big banks or even branches. Each bank stand by itself. Individually owned. Like credit unions. All loans stay at that bank. Yes it true that some won’t get loans but maybe they shouldn’t . No fannie mae or sally mae no need for the FED. While I’m at it why not just make it a law for every worker to save or invest 10% of their income and end social security altogether. Because they used it as a piggy bank anyways, borrowing all of the surplus and replaced it with I.O.U.’s that they can’t pay back. Simple is always better than Rube Goldberg like economics. Just my humble opinion.
Greg,
Here’s who’s really in control in the Middle East. And it’s not the US.
http://thebricspost.com/russia-ready-to-invite-saudi-iranian-fms-for-talks-reports/#.Vo7rmHzrsfh
Its just a matter of time before they work a deal with the Saudi’s and dump the dollar for trade. The United States is no longer a player. Any doubts? What have you heard from the White House besides crickets?
I’d be interested in what Donald Trump would think about Ellen Browns’ ideas. , Someone said “Banks are asset accumulative institutions” My mother bought a house and with only 3 payments left at $43.00she told my father to pay the balance. He didn’t and didn’t believe the bank would repossess with only 3 payments left. They did, without notifying my mother, the sole buyer, that the house was in danger of repossession. You’d think they would have sent a rep to see her. Her brother could have paid the balance the next morning. Her house was assessed at $60,000. it broke her heart Such a hardworking woman, so many sacrifices, all for nothing. She lived to be 100, and now I pray that the mansion Jesus Christ said He would prepare for those who were faithful to Him and obeyed His commandments, is where she lives today.
Governments have let the people down also. Never mind about which political party is in power. Ellen Brown said we need a new system of capitalism, and her proposal makes a lot of sense. A new world order, that spreads another country’s economic failures to others, such as Canada, has been a mistake. Sovereignty, and maintaining what has always worked, including immigration, should be put back in our lives. Our oil, for example, should provide a profit to companies that drill for it, and Canadians should pay a fair price for it, jut as we do for lumber. Never, ever, should Canada be buying oil from Saudi Arabia, that supports terrorism, that we have to buy in U.S. funds and horrendous currency exchange, instead of buying from our own sources..
‘nough said
Greg:
Appreciate you having Ellen Brown back on again. She is very well informed and conveys her knowledge well. I found the interview to be very informing. I really appreciate your ability to have a diverse group of excellent guests expressing their knowledge and observations.
Thanks Mohammad!
Jerry, You are probably right about basic survval.
No one here can or should talk about the real solution.
Greg; great interview and really great feedback, comment and gas release. 😉
wc
Mohammad
Hi Greg
This is not actually a comment that I would like to have posted, but rather a request. I’m Canadian, and I’m sure that you have quite a few Canadians that follow you. My request concerns some questions that I would really like you to ask Rob Kirby next time you have him on your show. The first question concerns the derivative exposure of large Canadian Banks (e.g. the big five)- How bad is it? My next question concerns the oil price collapse and its effect on Canadian bank stability. Are Canadian banks up to their eyeballs in loans to the Canadian Oil patch? If so, and if these loans start going sour, how bad could it get? Are oil derivatives mixed into this?
Thanks for all of your fabulous work Greg, and I hope that you get a chance to discuss these questions with Rob at some point in the near future.
cheers
Jonathan
Jonathan,
Kirby is up next and I think he thinks it the currency in jeopardy. Kirby is out for an Early Sunday Release. What he predicted a month ago is coming true in spades.
Greg
Jonathan,
I live in Canada. Recently I discovered RBC has the most derivative exposure at 3.9 Trillion; at the other end, we have CIBC who got spanked in 2008 so they are now more conservative and have “only” 1.6 Trillion, and National Bank has 500 Billion. I’d say that’s pretty darn bad. You have these levels of derivative exposure one on hand, and on the other you have bail in legislation that was passed in the 2013 federal budget (see section 145). Not a recipe for stability for the individual ultimately. Good question on the oil patch loans. I’d like to know the answer to that one as well.
It must be nice to be a monarch, because how nice to do nothing except volunteer(has its rewards?). Collect tax on your private land stolen from the Native American. Put in God we trust on our money. Which is a BIG LIE. Have Donald Trump as President and 3 pages of land ownership in the mid west. Which happens to be the Solar Capital for renewable energy, but happens to be mostly in CALIFORNIA. Then wants to get rid of the MEXICAN people and build a wall in MEXICO. One would think it would be a lot easier to HONEST. Give back what is not yours, and stop lying. It has become a joke and me being American are ashamed of my country right now because the POWERS that be are becoming more and more GREEDY! JUST STOP IT! The educational blah blah blahs of BULL…I dare you to post this!
Jacqueline,
You are fact resistant a paid troll or both. And yes, Trump wants to get rid of Criminal Illegal aliens. I agree!!! Where’s my “sanctuary!!!???? I am a citizen paying for this crap!!!!! The rest of these “Mexicans” are not simply “undocumented” (like it’s some kind of accounting error), they are here illegally, and cashing in on benefits that tax payers have to pay for!!!! You are becoming more and more Stupid. “JUST STOP IT!”
Greg
Can you have Ellen Brown on your show again or someone in the Know about the United States Bail-In rules. No one seems to address the actual rules of what amounts the banks can take from depositors and what $$ amount cannot be touched in a Bail-In situation in the United States. Speakers reference the amounts in other countries taken in a bail-in situation but we the people need to know here in the United States so we can make plans to protect our assets in the United States banking system.