Brexit is the Match that Ignites the Powder Keg-Peter Schiff
Greg Hunter’s USAWatchdog.com
Money manager Peter Schiff says don’t believe the so-called “Brexit” was the real cause of the recent chaos in the financial markets. Schiff explains, “If the global financial system and the markets were healthy, ‘Brexit’ would be a non-event. I mean what difference does it make in the scheme of things if the UK is not part of the EU? In a healthy economy, it would just shrug it off, but because we have anything else but a healthy financial system, it’s all a gigantic bubble. It’s a house of cards. That’s how fragile it is, and it’s all propped up with cheap money, negative interest rates and quantitative easing. Everybody is confident that the central banks and politicians can keep these bubbles in the air that they are juggling. Now, all of a sudden, something goes wrong that they didn’t expect. It shows that the government is losing control, and this is the wake-up call. This is what has everybody so scared. This is the match that ignites the powder keg, but the powder keg was there all along.”
So is the Fed going to start more easy money and printing money because of the current financial chaos? Schiff says, “It may be the excuse because they were going to do it anyway. The market is now pricing in a higher probability of a rate cut than a rate hike, but I said that back in December. When the Fed first raised rates (December 2015), I said the next move is likely going to reduce them and not a second hike. Now, the markets are coming around to my way of thinking, but it took Brexit to get them there. I said back then it didn’t matter how we got there, the fact is, we are going there. The Fed was just looking for an excuse to save face. The real reason the Fed is going to cut rates is because this bubble economy can’t survive with even the smallest of rate hikes. So, it’s the fundamental problems in the U.S. economy that are worrying the Fed. It doesn’t want to admit that. It doesn’t want undercut its own credibility because it’s pretending it saved us. It doesn’t want to undercut Obama and Clinton because they are pretending we have this legitimate recovery. So, now they have a face saving excuse to do what they were going to do anyway. They will launch QE4 and cut rates and say there is nothing wrong with our economy. It’s because of the problems with the global economy.”
On gold and the dollar, Schiff says, “The big moves in gold are happening not in the dollar, but foreign currencies. Look at the Pound Sterling. You saw a 20% jump in the price of gold in two days. That is unprecedented in the UK. That is a huge loss of purchasing power of the Pound in gold terms. I think you are going to start seeing these losses in all these fiat currencies. Once the carry trades are finished unwinding their bad bets, and the fundamentals reemerge, what is happening right now is not bullish for the dollar. If this is what is going to enable the Fed to admit it’s going to cut rates and do QE4, this is very negative for the dollar. So, once the dust settles, the dollar is going down. If you are still in the dollar, this is your last chance to get out.
Schiff goes on to say, “This is going to be a huge crisis. Alan Greenspan was on CNBC saying this is the worst thing he has seen in his career. He’s not talking about what has already happened. He’s talking about what is about to happen. He understands how screwed up the economy is because he helped screw it up. . . . One of these days, you are going to see gold moving up at $100 clips routinely when people really perceive the dangers in the fiat world and come to grips with how much money these central banks are going to print. None of them have any integrity to honestly default, so they are going to take the coward’s way out and print.”
Join Greg Hunter as he goes One-on-One with Peter Schiff, CEO of both Euro Pacific Capital and Schiff Gold.
(There is much more in the video interview.)
After the Interview:
You can find free analysis and information on both EuroPac.com and SchiffGold.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.
So if QE4 happens as Schiff says and I believe it. Does that mean stocks and real estate just keep going higher?
I seem to think Stocks / RE are going to tank like in 08 and GOLD will go up.
Jim,
Mannarino has long said at some point the QE and easy money policies will turn to poison.
Greg
“Surprise, surprise. Workers in Britain, many of whom have seen a decline in their standard of living while the very rich in their country have become much richer, have turned their backs on the European Union and a globalized economy that is failing them and their children.
And it’s not just the British who are suffering. That increasingly globalized economy, established and maintained by the world’s economic elite, is failing people everywhere. Incredibly, the wealthiest 62 people on this planet own as much wealth as the bottom half of the world’s population — around 3.6 billion people. The top 1 percent now owns more wealth than the whole of the bottom 99 percent. The very, very rich enjoy unimaginable luxury while billions of people endure abject poverty, unemployment, and inadequate health care, education, housing and drinking water.
Could this rejection of the current form of the global economy happen in the United States? You bet it could.
During my campaign for the Democratic presidential nomination, I’ve visited 46 states. What I saw and heard on too many occasions were painful realities that the political and media establishment fail even to recognize.
In the last 15 years, nearly 60,000 factories in this country have closed, and more than 4.8 million well-paid manufacturing jobs have disappeared. Much of this is related to disastrous trade agreements that encourage corporations to move to low-wage countries.
Despite major increases in productivity, the median male worker in America today is making $726 dollars less than he did in 1973, while the median female worker is making $1,154 less than she did in 2007, after adjusting for inflation.
Nearly 47 million Americans live in poverty. An estimated 28 million have no health insurance, while many others are underinsured. Millions of people are struggling with outrageous levels of student debt. For perhaps the first time in modern history, our younger generation will probably have a lower standard of living than their parents. Frighteningly, millions of poorly educated Americans will have a shorter life span than the previous generation as they succumb to despair, drugs and alcohol.
Meanwhile, in our country the top one-tenth of 1 percent now owns almost as much wealth as the bottom 90 percent. Fifty-eight percent of all new income is going to the top 1 percent. Wall Street and billionaires, through their “super PACs,” are able to buy elections.
On my campaign, I’ve talked to workers unable to make it on $8 or $9 an hour; retirees struggling to purchase the medicine they need on $9,000 a year of Social Security; young people unable to afford college. I also visited the American citizens of Puerto Rico, where some 58 percent of the children live in poverty and only a little more than 40 percent of the adult population has a job or is seeking one.
Let’s be clear. The global economy is not working for the majority of people in our country and the world. This is an economic model developed by the economic elite to benefit the economic elite. We need real change.”
This is an excerpt from an article written by Bernie Sanders. Bernie, and Trump have hit on the Root Cause of the problem that we all face. That is why their messages resonate. In this article Bernie very graphically describes the instability inherent in the world-wide economic system. He defines the very root cause of the problem – that the system in it’s current form is not stable. In order for a system to survive it must be balanced and stable, and ours is far from it. It is extremely unstable and therefore it is not sustainable. In the history of the human race we have had many, many episodes of similar instability, after which the system ‘resets’ and begins again (see my second post below). The exacerbating problem this time our weapons of war have become so effective that when the system ‘resets’ we are apt to blow ourselves off the face of the earth, and blow what we know as the face of the earth off with it. If we, the human race, cannot adapt to create a more equitable/stable system, I believe that it is doubtful that we will survive as a species. I think it was Einstein who said, something like, “I don’t know what weapons will be used to fight WWIII, but I do know that WWIV will be fought with sticks and stones.”
Love your family and friends today, Love your lives today as you know them. They may not be the same tomorrow.
Sincerely,
CD
RE: ‘During my campaign for the Democratic presidential nomination, I’ve visited 46 states.’
And, you don’t post your real name? WTH?! I don’t get that. If you mean, ‘I don’t post my real name to avoid having bricks thrown though the windshield of my cars while I sleep, And, to protect those around me that I love, from any repercussions.’ That, I understand. I do that, too. It’s happened to me one time, too many.
However; if you ran for the Democratic presidential nomination, I imagine you gave all that up, and I wonder, why sign on as, ‘Collateral Damage’?
Yeesh, if I’d gone as far as you say you have, I wouldn’t be shy about my Nome de ploure. Er, however you spell it.
…just thinking out loud. As if it matters anyway, the world has gone to hell and we’re all ‘helots’ now. Have you read John W. Whitehead’s latest about the death of the Fourth Amendment?
https://www.lewrockwell.com/2016/06/john-w-whitehead/death-4th-amendment/
Not counting those who are aware, I’m sickened by the lack of reaction by the rest of my fellow american’s.
or, should I say, ‘American’t’s’?
….’Ameri-won’t’s’?
…’Ameri-Don’t-give-a-….”?
”Dreamtime’ forever!’ is the new american motto?
Bottom line: I’m stunned by the all around, Lack of Reaction. I guess they’ll get the wake up call when ‘the tide goes out’?
Same here in Europe. Dreaming on…
VERY happy to see Peter back on, what a great interview – thanks, Greg!
If Winston S Churchill, was alive today he would say “I contend that for a nation to try to print itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.”
i love that
I think there are other currencies that will go to their real value (zero) long before the dollar because like Jim Rickards and others have said, the United States, being the world reserve currency is the cleanest dirty shirt in the hamper. So, no rate hikes, otherwise (in addition to many things) commercial loans that are beginning to default like just before the 2008 crash will bankrupt even more businesses in spite of Dodd-Frank’s “legally” allowing them to lie about their balance sheets. The free money, QE, has to continue so among other things, businesses can refinance the debt incurred by stock buy backs and continue to make equities appear strong (high-ish DOW and S&P), otherwise they too will fail. As other currencies default, the world will buy USD’s and the smart ones gold until the world realizes the wizard is just some man pulling levers behind the curtain and gold is the only real thing with intrinsic value. These evil oligarchs might be able to keep it up for a lot longer than expected. I hope they do until we save enough to get a good used tractor with useful attachments for our farm, a pond aerator, a couple feeder cows, and lots of veggies to can from our garden. Should be ready with all that by mid summer next year.
Thanks so much Greg for running this site.
Thank you for supporting USAW Ken!!
Greg
Greg which site do you prefer we visit, this one or your utube channel?
The only thing I own is USAWatchdog.com. So, please view and comment here as a priority. I am just a squatter on You Tube as is everyone else.
Greg
When the markets realise Europe is starting to melt down primarily due to the fatally flawed structure of the Euro, capital will flee into the Dollar. This will mean the shares rising and possibly gold going under $1000 an ounce. Only when the masses loose confidence in government will there be loss of confidence in currency (inflation). Don’t loose faith in Gold if the price does drop in Dollar terms . A loss faith in Government is guaranteed.
People going to the voting boots with their pens sums it up better than anything else.
On this side of the Atlantic, Paris Hilton has higher approval ratings than Uncle Sam.
How on earth can you trust the currencies backed by the promise of such corrupt governments?
Trumps trip to Scotland to give his blessings to a new hotel and golf course on June 24 can help but make me think there might have been more to it then meets the eye! I’ve always wondered what possible ties Trump could have with the globalist? Is it possible that while Trump was in Scotland he played a twosome with a powerful globalist such as Lord Rothschild!
I am of the opinion that there is an inner power struggles within the globalist. Lord Rothschild is as powerful as they come. I am also of the opinion that there might be bad blood between Lord Rothschild and David Rockefeller evil satanist! Further more Jacob would disapprove of the way Rockefeller has messed up the US with his evil neocons and would possibly want to put a stop to this egocentric powerhouse… enters Donald Trump the possible savior backed by Lord Rothschild!
Perhaps this hypothesis has legs and it would explain the rise of Trump to where he is today. It would also explain the frustration of the neocon cabal being really afraid of Trump… suspecting the real power that is supporting him! That and a Russian president whom approves of Trump and undoubtedly is using all his might to help Trump succeed… Russia is not to be underestimated in it’s quest for better relations with Washington and avoid war at all cost!
Has I write this I really hope that this hypothesis can have a ring of truth and that a little light at the end of the tunnel can be seen… that the US and the whole world might have a better day ahead and all is not doomed!
Spurr,
Interesting. Thank you.
Greg
It’s amazing to see the manipulation of previous metal prices, the last few days have been outrageous.
Stock markets are artificially pumped up where as metals are compressed.
Peter Schiff is a genius. Greg Hunter you are a star!
Anthony.
You are so right. According to some, the Fed owns about 50% of the stock on Wall Street, so they have a vested interest in controlling it for their own benefit. Once again. The game is rigged.
50% China owned, you mean. (Chase Manhattan gold vault) Let’s see if Deutchbank gets bought, or, er… rescued.
Sorry for the goof Charles. You are right.
No goof, Jerry. I hope I’m wrong.
We are experiencing an unpleasant phase in an “economic cycle’ folks. A chemical/mechanical system depicting a recurring cycle is explained in the attached video:
https://www.youtube.com/watch?v=IVcMN093ISY
It is simple system dynamics people.
Best wishes to you all, and Greg, thank you for your efforts in presenting this forum and getting the word out. You are working to help save people’s lives.
Thank you, CD
there is no turning back
Many simple souls don’t understand how this affects them. They don’t see that pensions and dividend checks enable grandparents and others to pay school fees, support churches, pay the balance on parents cards for school uniforms (pubic schools have them) and buy school supplies. I wish someone smarter than I am would explain the whole chain of finance down to the homeless man that gets 2 dollars.
This is also true for government checks and programs.
We had “food stamps” for 6 months and a well off, single, Republican friend who mooched a lot, who despised all handouts. ( as he called them) Once I took a chicken salad sandwich out of his mouth and grinned, “Well, since you feel so strongly about it!!”
Everyone from the Walton heirs to the homeless man drinking behind a convenience store, every single one, depends on this system in some way. We need a truly decent, smart government and fast.
As Martin Luther King always said, “Keep your eyes on the prize!”
You seem kinda smart on other comments, Deanna Johnston Clark. When you say, ‘We need a truly decent, smart government and fast.’ I think, you’re failing to understand the situation.
There’s absolutely No Such Thing as a, ‘truly decent, smart government’.
You ask, ‘I wish someone smarter than I am would explain the whole chain of finance down to the homeless man that gets 2 dollars.’
I refer you to: Austrian Economics. Keyword: Rothbard.
Or, key-phrase:’Economics In One Lesson’. Not too mention, ‘Anarchist-Capitalist’.
It seems to me you have a whole lot of catchin’ up to do. …You’re not alone.
Best of luck to ya. I think you’d make a mighty fine remnant…. after the ashes settle.
Also, RE: ‘They don’t see that pensions and dividend checks enable grandparents and others to pay school fees, support churches, pay the balance on parents cards for school uniforms (pubic schools have them) and buy school supplies.’
I do hope and pray that my prior comment led you to know how messed Up that sentience is.
What needs to happen, what Must happen, is for those fees, balances, and supplies to go unpaid! The Lot of it amounts to nothing more than theft, plain and simple. What you’re wanting to happen is for theft to be continued on a grand scale.
I know it’s difficult to understand at first, however; I have confidence you can do it.
Thou shall Not steal! Not even if, ‘the majority’ votes in favor of it, and it’s for a good cause.
The free-market can provide, as God intended.
D – Capitalism works via the invisible hand of every one trying to produce goods and services to better themselves, along with a benevolent government that inforces the law fairly … Steven Hawkins nails it why the system is coming apart “greed and stupidity” – and Steven Hawkins is a rather smart fellow.
Fed policy makes as much sense as the drunk guy at the bar who believes; “If I keep on drinking, I will somehow become sober”.
This reminds me of Conrad Hilton literally getting drunk on a plane and calling all his comrades of the day peasants. You know. I kind of respect him for that. I imagine he woke up the next day thinking that the only reason he was hungover was because he had stopped drinking. I’m glad he did, I hope he has his act together now.
Deanna; Good luck finding a truly, smart government quickly.. The powers that be will throw every roadblock they can to stop Trump from his goals. As someone once said” it aint over till its over”, and its a long way from being over…
Greg,
I couldn’t agree with Peter more. Brexit was about England’s financial self preservation, and taking its place on the BRIC ALLINACE life boat. America, along with the EU has been sold out by the central bankers. If you want more proof, GO HERE. http://thesovereigninvestor.com/exclusives/americas-day-reckoning-exposed/?z=497177
I normally don’t promote anything, but this report is the best I have ever seen in putting all the pieces together as to where we are, and how we got here. It also offers a plan (for a price) on how to survive. I myself find everyday there is something I overlooked in my planning. For example: What will you do to eliminate human waste when your toilet no longer works? The bigger question is what will you do when you have hundreds of people around you with the same problem? When you answer this question, you will begin to understand why most survival experts tell you to get out of the cities. Most people in third world countries die of infection before starvation.
As far as timelines ? We don’t have much time left. Even though I’m a huge Donald Trump supporter, I believe Donald Trump is the quintessential “Black Swan”. After yesterdays economic speech, where he outlined his policy of taxing China on imports, I for one do not believe that they will stand by and let that happen. My gut tells me that the BRIC ALLIANCE will get spooked and decouple from the dollar completely as soon as the gold reserves are depleted. If Deutsche Bank goes down, it will happen that much sooner.
Here you go. This is all you need to know . George Soros is betting on Deutsche Bank going down.
http://www.express.co.uk/news/world/684259/George-Soros-100-million-euro-bet-Deutsche-bank-collapse-shares-EU-referendum-Brexit
Jerry,
DB will be Lehman on steroids. It is much bigger and has waaaaaay more derivative exposure. Thank you for this.
Greg
DB is on the outer…..not part of the CABAL….they are bleeding….and their demise is written in cement.
They will be flushed like Lehman.
Soros knows it…he’s not speculating…he knows the result.
UPDATE 06/30/2016 6:39 A.M.:
GREG THIS IS SERIOUS.
http://www.wsj.com/articles/deutsche-bank-shares-tumbled-to-a-30-year-low-after-fed-imf-rebuke-1467278856
With the loss of the “City of London Corporation” from the EU’s financial circle, when DB goes down its going to leave a financial crater so immense that not even the ESF can fill it. Keep an eye on this one.
Jerry,
You are correct sir. DB is waaay bigger than Lehman was with much greater exposure to derivatives.
Greg
Despite George Soros’ faults, he’s not a blithering idiot. He knows how to make money off the real situation.
jerry
DONT STOP, KEEP IT COMING !!
Jerry, the link you posted isn’t proof it is a sales pitch for a get-rich newsletter.
Shame on you.
Faith I think I said that.
“I normally don’t promote anything, but this report is the best I have ever seen in putting all the pieces together as to where we are, and how we got here. It also offers a plan (for a price) on how to survive
The information given is still valid. No one and I mean no one on this site ever talks about the role of the BRIC ALLIIANCE and the impact it is going to have on world economics.
I thought the same thing as you Faith.
Dear Faith,
re: ‘it is a sales pitch for a get-rich newsletter’.
Now That, was funny.
Jerry asked, ‘What will you do to eliminate human waste when your toilet no longer works?’
To that, I say;
http://www.theorganicprepper.ca/sanitation-in-the-city-what-to-do-when-the-toilet-wont-flush-05262015
Jerry says, ‘what will you do when you have hundreds of people around you with the same problem? When you answer this question, you will begin to understand why most survival experts tell you to get out of the cities. Most people in third world countries die of infection before starvation.’
That Is a good observation. I wonder if people can provide solutions at that time and everyone will be a bit better off? I.e. pour some ‘Great Stuff’ foam down the drain to stop the back-flow and buy a wooden box with a toilet seat on top and a bucket below?
Imho, Most people in third world countries die of infection before starvation because goobermint limits their options. ~ consider That!
At the same time, I get your drift.
RE: ‘his policy of taxing China on imports’.
Yeesh, no matter who gets elected, the goobermint is going to win. If they tax imports, that means prices on imported goods will go up and americans will pay. ….Which is, The Plan.
Do you Really think they’ll lower regulations and taxes enough that american producers can offer something which other americans are willing to pay for?
I don’t.
helot.
That’s good information. I already knew about the bucket toilet. I used one for years camping. The contractor bags were a bonus. Just so you know I wasn’t trying to be a smart ass when I asked the question. Most people think if they buy a years supply of food they’re done. WRONG! Right now on working on a solar pump shower. The prepping never stops when you realize how much we are going to lose when the SHTF moment comes. I pity the doubters. They will most likely die a slow painful death because of their ignorance.
“He [Alan Greenspan] understands how screwed up the economy is because he helped screw it up. . . . ”
Absolutely! But Greenspan won’t admit that, will he?
Tim,
When he brings up going back on the gold standard he is tacitly admitting the system he oversaw is dying.
Greg
What he admitted was that he assumed banks would refuse to make bad loans out of self preservation…that he thought they were more conservative and cautious in risk because historically, they were.
I saw him say that several years ago on live tv. That was his big mistake…basing his permissive choices on past experience. It makes some sense at least. Every sane person thought banks were cautious. Silly Al…that’s why he gave them the car keys and said,”Have fun kids!!”
RE: ‘Every sane person thought banks were cautious. ‘
Ha! You never spent time at thehousingbubbleblog eh?
Not ‘everyone’ did.
Your comment reminds me of this spooky quote I saw on survivalblog, “A time is coming when men will go mad, and when they see someone who is not mad, they will attack him, saying, ‘You are mad; you are not like us.’” – St. Anthony the Great
Greg: I agree with Peter that nothing will happen in the markets until after the election, although the stresses are definitely reaching a breaking point. But a huge disaster awaits, especially if Hillary gets elected. Then there will be no need to artificially prop up the markets, and the ultimate distraction to the implosion will be implemented by the psychotic neocons and their masters in the banking community. I remember when every new suburban home built in the 195os had a bomb shelter in the basement and we had duck and cover drills in the schools. And again, what is the definition of insanity?
Peter Schiff is great to listen to as he helps guide people through all of the shenanigans these politicians and central bankers put the world through.
Silvers at $18.43 at time of this post. Im thinking one more smash down then it may take off. Get it while you can folks!
I’m still trying to figure out “fundamentally”, what Brexit did.
Big bank stocks tanked, especially the Hong Kong Shanghai Bank Corp.
Did some derivatives blow up on these banks ?
Does anyone else have an idea of why fundamentally this could trigger an economic collapse ? Thanks in advance !
TRJ
It made the powers that be begin to stop denying that some countries able to pay the massive EU debt are no longer going to pay it. It was never going to be repaid anyway and this is just pushing it forward. By the way Table Rock Lake id a beautiful place. I am originally from Missouri.
Greg
Greg, if your guest is right and I don’t doubt it, then his predicted interest cut & QE4 may be followed by Mr. John Williams stated “hyperinflation” thesis. Please have him on again if you can to get his perspective on the FED, Brexix, etc. a
P.S. On other news, Bush & Obama’s religion of peace is back at it again, I have cancelled my planned trip to Europe this fall. Cannot trust the airports and train-ports for safety any longer, every other month or so it goes off again.
A years supply of freeze dried foods, canned food, toilet paper, soap, tooth paste, etc is better than money in the bank or PM under the bed . Even if you have to buy cans of soup one at a time start now! After you have at least a year of food stored than PM…
I have to agree with Steven. If you don’t have food (and the ability to procure/produce it) you have nothing. Precious metals are nice, and certainly the best “confidence builder” after the fiat system collapses and a new system is established, but you have to eat in the interim. And during times of trouble, sly folks jack up the price of things you need.
In my opinion, TPTB will keep this system up and running until they can’t. And after the collapse, during the interim while a new system is being established–people will throw their gold and silver into the street in an attempt to acquire food, while they burn their paper assets to keep warm. The people who have food to eat, precious metals, and gunpowder influence will be the future’s bankers.
Careful methodical preparation!!
Great post Steven.
Greg,
I always enjoy hearing Peter rant about the Fed concerning their lies about rate hikes, money printing, etc. I’m also glad you brought up the DB rigging issue since he’s taken a long to come around to accept the manipulation of the PM markets. To follow up this discussion on rigging metals Ted Butler would be a great guest since he’s written many articles on the silver fix being executed by JP Morgan among other banks at the Comex.
For those who missed Peter’s debate with the CNBC traders earlier this month take a listen…
https://www.youtube.com/watch?v=tBJ31G6FdhQ
Hey Mark, thanks for the link! Just watched it with the Mrs., makes for a great follow-up segment to go with Greg’s interview… ^_^
Greg, thanks for another excellent interview with Peter Schiff. He is savvy and stays ‘on point’.
The proponents of gold never talk about several problems for good reason:
1. The government will confiscate gold and silver (they’ve done it before!)
2. If the stock market crashes and real estate crashes, gold and silver will sell off as the holders of gold need to sell it at any price to pay their margin calls and their mortgages (as has happened before).
3. Gold is often held for the rest of one’s lifetime because the hit you take when you sell it (in terms of purchasing power loss) is too large to accept. If you don’t believe me, try selling a gold coin to your local dealer. Once your kids have inherited it, they will rush to the same dealer and sell it for even less, so they can rush out and buy the latest chick magnet car or other such item.
4. You never hear about the best deals; you have to find them yourself. If the deal comes looking for you, whether by email, phone, internet or television, beware! Right now the media is flooded with hucksters selling gold coins.
I agree with Peter Schiff (whose grandfather Adam Schiff helped finance the Russian revolution a century ago) that fiat money will eventually become worthless. But gold may not be the best alternative – and it is our individual responsibility to find a better way “with diligence.”
R.C.
Please come back let us all how it works out for you going long paper assets.
Greg
Gold vs. Paper Assets is a typical American dichotomy that does not allow for any more than these 2 asset classes, 2 political parties, 2 relational states (friend or foe), 2 investment postures (risk on or risk off), etc. There may be other possibilities around but if you have this mindset, you will never recognize them. The main point I tried to make is that there are risks in owning gold, and these are not discussed by any of the gold bugs (except perhaps by David Morgan).
You’re missing one thing R.C., and its huge – negative interest rates.
I retract, I see that you say you believe fiat money will become worthless. What did you come up as an alternative? After you did your due diligence.
There does not seem to be a single answer for all of us. A young man living on the coast might buy a sailboat capable of crossing an ocean. An affluent homeowner who owns several arable acres might buy a tractor, shed, fuel storage tanks, seeds and fertilizer to be able to grow his own food. A person with leadership skills might organize a community to withstand the consequences of hyperinflation, using his/her wealth to buy food (think granary) and protection (think armory). There probably are many other investment paths. What’s yours?
RC, I agree that gold might not be the right thing for everyone to own. Adam Taggart from Peak Prosperity talked to me about my particular situation and sad that physical assets capable of sustaining life such as arable land, tractor, animals, water well, solar panels, wood burning fireplace with lots of trees on arable land is much better to own than gold. In fact, he recommended not buying gold but buying physical assets instead. I do own a small amount of gold as a hedge or insurance only because your scenario may not play out, after all Kitco may still buy my gold at a MUCH higher price than what I paid for it if I ever need to sell it. However, because Schiff’s motivation might include selling people gold, the information he provides wrt markets, central banks, QE, ZIRP, etc is spot on, well reasoned and for me, greatly appreciated.
I see what you’re saying and I agree. We all need to have a marketable skillset and resources that fit our abilities. Bill Holter even says food, water, supplies first, THEN precious metals.
From OUR standpoint – there is no single answer. The problem may be that we won’t get to formulate the answer. Perhaps we will be TOLD what will be ‘next’, and ‘accepted’.
I wonder why so very many people are so clueless as to say things such as, ‘The government will confiscate gold and silver (they’ve done it before!)’
Do these people know not All gold was confiscated in the past, likely due to the fact it’s impossible, much like outlawing drugs today eliminates all drugs.
When people say, ‘If the stock market crashes and real estate crashes, gold and silver will sell off as the holders of gold need to sell it at any price to pay their margin calls and their mortgages’
I wonder, how many clueless mortgage holders own gold? Same goes for stock holders. I know of none who fit that category. Why would they own gold? That makes No sense.
Anyway, I laugh when I read comments like this:
‘Once your kids have inherited it, they will rush to the same dealer and sell it for even less, so they can rush out and buy the latest chick magnet car or other such item.’
The idea of preserving purchasing power goes Completely over this commentators head. Com_plet_ly!
In response to this comment:
‘There does not seem to be a single answer for all of us. A young man living on the coast might buy a sailboat capable of crossing an ocean. An affluent homeowner who owns several arable acres might buy a tractor, shed, fuel storage tanks, seeds and fertilizer to be able to grow his own food. A person with leadership skills might organize a community to withstand the consequences of hyperinflation, using his/her wealth to buy food (think granary) and protection (think armory). There probably are many other investment paths. What’s yours?’
I would suggest, in parallel to Mr. Greenspan’s comment about how gold is superior to all other fiat currencies, that those are actually speculations R.C. listed, not investments, And, they are inferior to gold, because they are so specialized, individualized, and specific to this location or that set of circumstances with everything else remaining constant. It might seem absurd to say the farmer isn’t ‘investing’, until you consider this:
‘With everything else remaining constant.’ a.k.a. ceterus paribus
When sailboating becomes illegal, and farming is made into a crime or too expensive or the crops have to be given to the state, and organizing is verboten, in this here land, whatchya gonna do while the rest of the world wants gold?
I guess it all depends upon what your perspective is of the future.
Place your bets, gentlemen.
Don’t laugh to loud Helot, as most will trade in their inherited barbarous relic for the latest of anything going.
This video demonstrates the stupidity I laugh at.
https://www.youtube.com/watch?v=bYhTFz_SGw0
YES…what a stunning idea…we need another “community organizer”! Brilliant!
RC, you completely missed the reason I buy gold – as a hedge against inflation. I didn’t buy it as an investment.
Assuming the world’s economy tanks, I’d much rather face it with gold than without. If it turns out not to help, that’s okay because nothing would have helped anyway.
Robert, if “the world’s economy tanks”, gold might not buy you the beans and bullets you would need to survive the subsequent societal collapse.
Avoiding Death – is not an option. Avoiding Hell – IS an option. It may be the very best preparation anyone can make.
“Tell ye, and bring them near; yea, let them take counsel together; who hath declared this from ancient time? who hath told it from that time? have not I the LORD? and there is no God else beside me; a just God and a Savior; there is none beside me. Look unto me, and be ye saved, all the ends of the earth: for I am God, and there is none else.” Isa 45:21,22. This speaks of Jesus Christ. Accept no substitutes or shortcuts. If you honestly seek Him: He will give you enough light to find.
I still think gold is the best hedge against inflation.
Remember what Ms. Fitts said –
“Always have enough gold to bribe the border guards.”
Greg, you know I love you and USAWatchdog, but there are many more troubling things going on besides the economy.
Would you consider having on more geopolitical experts to talk about NWO/globalism? The UN’s NWO agenda will have effects that are just as detrimental to society, if not more so, as the economy. I believe this is an area that deserves to be brought to the forefront of the public’s attention.
Or how about someone well-versed in transhumanism (the changing of the human genome), which is sure to result in devastation for humanity? Or even the future of AI and where it might lead? How about an experienced prepper to stimulate conversation?
No one else is doing this, at least no one that I can find.
Thank you.
Robert,
Yes, my next guest talk war and now.
Greg
so by ‘real’ assets you mean tangibles?
I have always wanted a copy of Amazing Fantasy # 15 [first appearance of ‘the Spider-Man’]
yes or no?
GREG; Peter Schiff recommends buying gold mining stock. When or if the market crashes and stocks are crashed, wont gold mining stock crash also?
Bill,
I would only trust real stuff for core assets. It you want to gamble you can buy the miners.
Greg
The problem with mining stocks is they are paper assets, with several counter party risks. First, when the SHTF, do you think your broker will escape the devastation, even if you’ve taken the precaution of having the shares in your own name. Second, Obama’s NDAA gives him total to expropriate all national assets (including your labor!!!) in time of national emergency, such emergency to be at his total discretion. Gold and silver mines will be the first assets so taken, and other national leaders will follow suit. The government can also confiscate your food and clothing; but then there’s that little matter of 500 million weapons owned by the populace. One of the best quotes of WWII was by a Japanese general who, when asked by a subordinate if he was going to invade the US, replied (and I paraphrase): “Are you f#$%king nuts? In America, there is a gun behind every tree”.
Anyone else see a pattern here:
1. The U.S. Government has notified emergency food companies that seizure of their products is acceptable if “conditions” warrant it.
2. U.S. agencies have and continue to prep for ‘prolonged food shortage’ simulations.
3. The media is now touting a 400% rise in the price of food-coupled with a meme this could endure for the next decade.
4. A secret U.S. warehouse is rumored to have stockpiled billions in medical supplies.
5. Numerous U.N. vehicles have been sighted in the U.S. Is this proof of a massive staging event?
Part 2 of a pattern.
6. Recall China and Russia’s warning to our government–None of their troops will participate in an emergency U.N. oversight force as long as our citizenry is armed.
Could this explain Obama’s push for gun control (i.e. gun confiscation) because a “controlled collapse” is looming and the above factors are the stage being finalized!
Ecclesiastes states “there is nothing new under the sun”–and our government wouldn’t be the first or last to use starvation to control the masses.
Number 2 should read, U.S. agencies have and continue to plan for prolonged food shortages” thru strictly coded and outlined simulations”.
“Numerous U.N. vehicles have been sighted in the U.S. Is this proof of a massive staging event?”
No, it is definitely not proof. Sightings of U.N. vehicles have been happening for years so it is not unusual. Numerous vehicles? Like how many? Does not seem to be any more than in the past years based on articles going back to 2011.
JMiller,
Perhaps your right. But if time allows you may want to view an 8 minute podcast called; The United Nation’s Quiet Invasion of the U.S.A found at govtslaves.info. There is a reason why a long term plan and operating in plain sight usually works.
Food for guns? That will thin the herd.
Just as the neocons put “powder kegs” in the WTC buildings to cover-up their T-Bond fraud and stolen Trillions from the Defense budget … the neocons have similarly placed “powder kegs” throughout the financial system to cover-up their massive fraud and manipulation of markets … by “blowing things up” the neocons think they have found a unique way to avoid all criminal penalties for their crimes of treason … the big “power keg” is currently being locked and loaded for when Hillary is (s)elected President (and brings nuclear Armageddon upon the world) … a nuclear Holocaust should provide “a lot of cover” for the neocons to escape all punishment for their evil traitorous deeds!!
Yes Paul, and the whole phony ‘War on Terror’ was based on Muslims taking down the THREE skyscrapers; the only 3 steel-framed buildings in the history of the world to collapse due to fire.
How the towers were taken down has been answered by 2,500 architects and engineers who put their careers (and lives) on the line. The real question now is, ‘WHO had the access to plant the thermite explosives and the technology to remotely control the planes and the controlled explosives?’ ae911truth.org
Yeah Diane … the traitors hire some kid “terrorists” who can’t fly a small plane to pilot a big “aluminum” airliner into “steel” buildings … the tops of the WTC buildings did not shear off and fall to the ground … instead “miraculously” “all the steel supporting beams” in THE BASEMENT of both buildings get “sheared off on an angle”?? … and both buildings lose their “base supporting structure” because of aircraft that hit the buildings 50 stories higher up??? … how dumb do these neocon traitors think we are???
Then to top it all off … building 7 miraculously loses its basement “steel supporting structure” and comes down “at free fall” … and it was not even hit by a plane … yet the traitors who attacked an American city and the Pentagon itself think the public is so dumb (and our military generals so dumb) that they will go off to sacrifice American boys in a war with two countries that had nothing to do with 9-11???
These neocon traitors know full well that their crimes against humanity requires the death penalty … therefore they are doing everything they can to start a nuclear war with Russia and China to cover-up their treasonous acts!! … the neocon traitors are fighting for their lives … so they will push for a nuclear war at every opportunity … hopefully Russia and China can maintain “their cool” until Trump is elected … if Hillary gets in I believe we should all expect American cities “will be nuked” no doubt about it!!!
Doesn’t anyone remember “seeing with their own eyes” how the aluminum planes were sheared to pieces by the steel beams of the WTC buildings? … the steel beams hit by the planes held their structure … yet the steel beams in the basement of the WTC bldgs 1 and 2 were all sheared “on angles” and “no plane” hit the basement … just as “no plane” hit bldg 7 (or bldg 6) … this treasonous attack upon America deserves the death penalty … and all those involved must pay the price for treason … let the chips fall where they may!!!
Just like a bad flu…. the world will get over this Brexit thing….. Just like Cyprus and Greece not too long ago.. 80 to 90% of the things we worry about never happens. When something does happen, it’s not what we foresee. So I don’t think Brexit is the domino that will set off a total collapse. It could simply be because of my pet budgie having a poop on my computer ketboard, short circuiting and causing my trading program to buy all the world’s toilet paper supply. So to Brexit, I say %^$# it. It’s not the obvious that is obvious.
Donald Trump should hand out trumpets at all his rallies … as the hundreds of trumpets sound it will usher in a new moon over America … we don’t need to see Hillary’s moon over us … every Jew should get out their Shofar … and election time give a long final blast … loud enough to drown out whatever blast Hillery will release (upon mooning us with Nuclear Armageddon)!!
Hmmm maybe Trump is right?
http://www.zerohedge.com/news/2016-06-29/hillary-superpac-has-taken-200000-banned-donations
Hillary will do anything for money … a vote for Hillary is a vote for the annihilation of the human race … for she will surely take us into war the neocons want and need to cover their treasonous deeds …and thus bring upon millions of innocent families … Nuclear Armageddon!! … we must vote for Trump!
I still can’t get over the fact that our military generals did “absolutely nothing” when the Pentagon itself was under attack??? … was every single generals in the US involved in the theft of that 2.3 trillion dollars that disappeared from the Defense Budget (and was being investigated by people in the Pentagon)?? … only those working on investigating where all the missing money went … were killed … in very room inside the Pentagon that was hit on 9-11 (most likely by a missile launched by a sub)! … NORAD doesn’t have the air space over Washington DC on their computer screens at all times??? … what were our generals doing on the morning of 9-11?? … playing golf??
Only one person in the entire Defense Department tried to help save American lives … our Secretary of Defense who went out on the Pentagon lawn to help carry wounded Americans to an ambulance! … out of “the entire Defense Establishment” just one single person stood up to help on the morning of 9-11 … I don’t know how many generals we have in our military but not one would stand up when the very Pentagon itself comes under attack??? … why wasn’t the sub that fired the cruise missile at the Pentagon sunk???
Lawyers please chime in here…my take is thru bankruptcy…the U.S. was put in trust –and most all ‘real’ estate is held by TRUST DEEDS…which are not alloidial…and fee simple…and as such are but ‘exclusive’ use which can be sold along…but my have restrictions of what and who has claims beneath it and over it …and even blockage of sight line –etc. for solar and views…and with agreement one pay the ‘state’ any taxes imposed as a result of you holding that deed… so do you ‘really own it at all ?” Just try not paying those ! Likely having gold and silver might just be needed in heady times to ensure you don’t fall in that trap when the ‘fiat dollars’ become worthless ! One does wonder if the populace should ….de-incorporate their states, counties, and cities now…and let those ‘legal entities’ take their own unfunded liabilities with them ! Since apparently they are listed as ‘for profit’ corporations on DUN AND BRADSTREET I am told…and then maybe their ’employees’ can just take the write offs for their pension losses rather then expect the taxpayers to be burdened with them ? Good luck right? lol
And the populist uprising shows its face in Japan. Some examples from the paper, etc.
1. front page, June 20, “US, remove your bases” demo in Okinawa Japan
2. page 5, June 21, full page spread showing the positions of the parties for the upcoming elecetions. One party, “The Spirit of Japan” advocates reinstating the emperor and going back to a Meiji constitution.
3. an adult student reported that one current member of Abe’s cabinet mentioned that it “will be necessary to spill a little blood, to bring about the future we desire”.
Fear not? Riiiiiiiggggghhhht.
Buckle up.
Thank you Fan for the reporting from Japan.
Greg
FAN IN JAPAN
DONT STOP KEEP IT COMING !!!
Sayonara yami !!!!!!!!!!
Paul, I believe you are referring to NeoLibs, NeoLeftists??? My kids are on me for using the name Libtards so help me find a new title for the greedy, warmongering, tyrantbound, Saul Alinskyfacist Leftys. Like Hiltlery!!!!!!!!!!
Thank You Greg for all you do!
Greg, Bill Clinton & Attorney Loretta Lynch met privately in Phoenix recently. They met on a plane, had a private talk, they claims they talked about grandchildren, old times, etc. Do you still think Hillary is going to be indicted? I am afraid Greg the fix is in, the Clinton’s called in another marker. Further, Comey can’t get Hillary’s lawyer to get a date for her interview with the FBI as she is just too busy. I am afraid Comey has been out played and his investigation and or “inquiry” “security review as Hillary has described it is dead on arrival. Greg, don’t get me wrong, America cries out for justice, but the Clinton’s are above the law, always have been; every scandal finds them more powerful and much richer. They know where the bodies are buried and Obama is not immune from their reach; lately he has stated “I’m sure there was nothing anything intentionally done”. End of Story, checkmate for Hillary.
Arthur Barnes,
I was listening to Rush on the radio this afternoon. He said he was with a friend on the golf course and his friend advised him that the time to be Paul Revere is over. It’s time to get the family to a safe place. Rush emphasized that his friend was dead serious.
Arthur…..Unfortunately, what you wrote is probably correct.
Yet, I think a secret meeting with Bill is “bad news” for Hillary. There is some kind of “deal making” going on and Bill is the go between….the courier…..perhaps even the “convince-her”. Obama does not want Hillary in office and I still believe they are going to double-cross her. If Hillary “dropped out” of the race, that would also take some pressure off the administration to indict.
Maybe Lynch was breaking the news to Bill that Hillary is going to be indicted.
Don’t think so Robert, Lynch hasn’t gotten any report from the FBI yet that is known. No, I believe it was just old Slick Willie calling in an old marker. Lynch on the other hand may have agreed to the meeting so she would have to recuse herself from the matter and let someone else make the call to indict or not.
GREG; Since it looks like the EU is in trouble with other nations beside the British considering exiting, all of the sudden we hear from the Mexican president that the US and mexico should consider coming together. Then immediately we have a meeting between Obama, Trudeau, and the Mexican guy. Is the NWO trying for a success in north American continent. HEADS UP AMERICA!!!!!!
That is certainly the object of the NWO. This idea has been kicked around for some time. One of the things that scared me from Ted Cruz was his wife’s ties to the Bush administration, Condi Rice, Robert Zoellick, the Council for Foreign Relations, the World Bank, Goldman Sachs, etc. These are all globalists. The goal is to form these regional organizations that subjugate the individual country to the union with the union being under the control of the cabal. Sadly, many people still believe that fears of one world government are just in the minds of the tin foil hat crowd. But it is blatantly obvious to anyone with their eyes open.
Tommy, tell the world!
From a practical stand-point, a few years ago I actually thought it wouldn’t be such a bad idea to “annex” or merge with Mexico. I would never trust the governments to do it without messing everything up though.
Still, all that oil, silver mines and natural resources, beautiful coastlines….. and the fact that instead our government has done nothing to secure our border anyway or stop that sucking sound heading south Ross Perot talked about via NAFTA…
Yet, it would be a difficult endeavor given the corruption of the elites in Mexico as well as the USA. They’d mess it up for sure.
I just thought it was an interesting idea if it was done from a free capitalist approach bringing in energy independence and a coastal real estate development boom and giving the poor (hard working) class of people opportunities. The wealthy Mexicans would have never given up power though and the Elitists here would have messed it up. Still, when Russia sold us Alaska, that sure turned out well. Different times though for sure.
My post didn’t appear, maybe I’m doing something wrong?
Jan,
You have done nothing wrong. I screen the posts so someone doesn’t use foul language or use this site for fraudulent marketing or things like that.
You also screen out facts about Trump. I have tried to post direct quotes on Youtube – without my commentary and you cannot stand even that much of the truth. Why do you censor direct quotes of Trump? You consider it important to endorse Trump why not allow quotes from Trump?
As long as they are in context Kirk and you are not a paid troll I always allow some opposing views. That said,I am not going to provide a platform for you where I have to work overtime to vet everything you say.
Greg
I suggest to coal burner that he use “FIBERALS” for liberals that lie and deceive and rig the elections (like the ones prevents Bernie Sanders votes from being counted).
Greg, Et Al, We observe and listen so as to connect the dots and try to understand the whys and wherefores of what is staring us all in the face … but it all comes down to our own subjective reality. What is meant here is the bottom line is going to be survival …(or not) … We know a man who is very well prepped … multiple caches in the forest type of prepped … he one day went to a neighbor’s house and asked the woman of the house to see her pantry (??) … it held not very much … so he told her … when things really go south I am coming to your house and I am going to kill you; your children/husband and anyone else who is here !! … she is now as this is written quite well prepped !! Now we give a lot of thought to possible scenarios when the fecal matter hits the oscillator such as a young mother with a couple young’uns showing up on the porch in search of food … what do you do ?? … I know that not all will agree with our actions but we see two possibilities …1/ give her some food and tell her that is all we have and do not come back … (in which case she might very well show back up w/ husband/dad/brothers etc. … w/firearms … 2/ shoot her and the kids … we have a backhoe and plenty of lime … now this is a difficult episode to consider but better now and have your convictions intact than when it is crunch time. There are questions to ask and answer … why do we prepare ? Does it make sense to be prepared for the SHTF and then give it away and die because you did not consider the other side of the equation? Preparing for the worst entails having multiple resources on hand and ready to survive with. … Just some thoughts from the redoubt.
Yours in Faith and Liberty, FN, DB.
DBCOOPER,
You know and I know she will come back with her parents and siblings. I’m pretty sure I won’t be able to turn away parents with starving kids. That is why I’m contemplating buying a house near the farms.
In the Great Depression, foods were left to rot in the field while city folks starved.
TFH, Thank you for the reply … there are so many scenarios to consider that we cannot do them all … my main concern is to have our mental attitude and goals and objectives well thought out before we have to act on them. We have killed many living things in our life time but have always had a justification … a ‘good’ reason … best to consult the spirit now , before we have to actually commit our actions. As to getting a place near farms … not a bad idea but time is short my friend and remember that anywhere you land in the country you will be the outsider … we have been here in the same local for 35 years and are still ‘newcomers’ !! All the best, yours, DB.
andy b when investing in gold miners you must take jim sinclairs advice and take possession of your shares in paper certificate form. The next best thing to do is direct registration on the books of the transfer agent for that particular security.This process takes these securities out of the hands of the gambling casino of hft trading and risky brokerages and places the stock ownership into your hands.If you have faith in this gold bull market and have favourite quality stocks as a longer term hold you must take this advice . Paper certificates in your possession and direct registration are as good as gold and negate the risk of a brokerage going down.
Hello Greg and friends…
My daughter Sarah and her husband have been in Ankara,Turkey for about 10 days and were scheduled to fly out through Istanbul the very next day after the terrorist attack. Luckily they did not fly out that same day of the bombinga. Now though, they are grounded for an indefinite amount of time…. flights from Turkey to the USA are cancelled. If I recall, they grounded flights to American from Paris for about 10 days. Please pray for my daughters safe return.
Also, those Godless bastards and cowards didn’t kill my daughter but they killed many other peoples children. This evil HAS to stop!!!
Never mind. I just heard from her and she is now cleared to come home in about 13 hours…. 2PM Turkey time on Friday.
Perhaps don’t post any of this unless you don’t catch it. I thought it was going to be a lot worse as far as delays.
That is good to here Rich. Hope all goes alright.
OT but very important for fellow watch doggers … Jihad is here…
https://www.facebook.com/thecounterjihad/videos/1222777621080003/
Chip
DB Cooper; The stark reality of having to make that type of decision, most people are incapable of. So, if your choice is to not defend your stuff, why bother to store it and have it taken away from yu.
Bill, Thank you for the reply … I agree totally but as you observe so many people are not capable of this type of action and so all the prepping in the world will be for naught … so sad … this is why I urge folks to search in their spirit to find the strength to do what is necessary … We intend to remain as the remnant !! Yours, DB.
Hero With Concealed Carry Firearm Prevents Mass Shooting In SC
https://pjmedia.com/trending/2016/06/29/hero-with-concealed-carry-firearm-prevents-mass-shooting-in-sc/
Used to really like listening to Schiff, but I must say that he has become not much more than another ‘marketeer’ for his company/products. Times of uncertainty or crisis tend to bring this sort of thing out, unfortunately… And this interview plainly laid that out in spades, as it didn’t take Peter but a few minutes to hawk his site for potential clients. This is what is known as ‘shameless advertising’… Unfortunate, because he does have a good message (and so do a lot of others), but it becomes tainted when one can’t help themselves but to constantly be in ‘sales’ mode’…
Regulation, censorship of Internet coming.
http://www.washingtonexaminer.com/fed-regulation-of-internet-coming-warn-fcc-fec-commissioners/article/2595304
Relax……… Enjoy the fall……. TV will become educational again. 🙂 Stock up on popcorn too. Soon……all those jobs will equal all those needing jobs….LOL
Alan Greenspan understands how screwed up the economy is because he helped screw it up. He also knows how destructive the ongoing sayonarazation by Federal Reserve because he was the Grand Architect of Project Sayonara which have been sayonaraing the savers and pensioners without any mercy.