Risk Greater Than Ever-Egon von Greyerz
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Financial expert Egon von Greyerz (EvG) says the central bankers did not fix the problem that caused the last global economic meltdown. EvG points out, “Did they save the system? For ten years they did, but they didn’t save it. They made the problem a lot bigger. Global debt has gone from $120 trillion in 2006 to $225 trillion today. Central banks have printed another $18 trillion. So, the situation right now is a lot worse than it was then. So, the bubble is much bigger. And remember last time, interest rates worldwide were around 5% to 6% ten years ago. . . .Today, they are zero or negative in many countries. They cannot achieve anything by adjusting interest rates. Well, they can make them more negative, but people are not going to give them any money with negative interest rates.”
EvG has decades of experience as a top executive in the European banking system, and he contends, “The ECB risks are increasing exponentially. Greece is still bankrupt and will remain bankrupt. If you go around to all the other countries, Ireland, France and all the other countries . . . the problem is just a lot bigger today than it was. They have done a great job in fooling all of the people most of the time . . . when the risk is greater than ever. It shows if you tell people lies often enough, people will believe it, and that’s what’s happened. This is why when this ends, it’s going to end in tears. It’s not going to end with a slow gradual process of deterioration. It’s going to end with a bang. I am not a pessimist. I am just looking at risk, and the risks are so clear to me. This is a risk that no one can actually do anything about because there is nothing you can do for debts that cannot be repaid. . . . We are living in a lie, and you cannot live on a lie forever.”
EvG vaults gold for wealthy clients in secret vaults in Switzerland and in Asia. What is he seeing first hand from his global clients? EvG says, “It’s interesting that we are seeing big money now starting to actually come into the gold area. They are increasing (holdings) or coming in for the first time, which I would say is quite new, in the last few weeks. People are sensing it. People understand what’s happening. We have our clients we’ve had for the last 15 years, and they are increasing their holdings, but we have new money coming in, and it hasn’t been on the scale we are seeing now. . . . There are people that smell things before they happen. People don’t know why, but people are sensing something is going to happen.”
Join Greg Hunter as he goes One-on-One with Egon von Greyerz, founder of Matterhorn Asset Management and GoldSwitzerland.com.
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After the Interview:
There is free information and articles on GoldSwitzerland.com. EvG’s latest article is titled “FINAL CURRENCY DEBASEMENT TO ZERO HAS STARTED.” Click here for that article.
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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.
Metals are the only way to reset out of this mess.
Thanks GH
Thank you AA!!
Greg
Gold and silver carry their own risks but unlike most other financial assets they will still exist after the reset. The only question will be who owns it!
The most think that Gold and Silver will be the way to go but that is not the whole truth. It will be the way to go when the fan hits the ceiling but when the masses are waking up and there will be a new system, then I see that Silver and Gold are also nothing for the common man because so long gold and silver will be worth much, we have NO new system and the few % that have Gold and Silver, lives in the old system but that will not go up for in the new system or do we think really that when this evolution of consciousness hits, that the masses let the people with Gold and Silver, lives their old lives? Really? It’s going to be change everywhere and in the last minutes of the old system (can be a year or more after it began to broke down in the foreground) then also gold and silver will be hit because that also has nothing to do with the real life where we are then living in. This is the one thing that everyone misses with their years of practice with gold and silver. It belongs also in the old system and not in the new.
KeZa Nonsense Silver is the best known conductor of electricity is used as a anti bacterial agent and has plenty of other uses in high tech It’s going to be more valuable especially in USD terms for a very long time Gold is money period
KeZa, I advise you to educate yourself on true money before commenting on something you know very little about.
KeZa,
The truth is that we are all guessing what the new system may be when the old system reset. Nobody knows exactly for sure what the new system will be like, not even the squids.
Perhaps the monetary system is like fashion design, belt bottom pants may be in stytle again when the youngsters get tired of the skinny jean.
Silver is a finite element used in almost all modern technology. It is the best conducting most reflective metal known to man. It has antibacterial properties used in medical devices. Gold has been a store of wealth during all of mans recorded history. These assets do not spoil, corrode, and are malleable, and infinitely divisible. It takes a lot of energy to mine and process gold and silver. These assets have intrinsic value and will pass through this reset as they have passed the thousands of resets that have come before this one. I hope you have learned something from this post and stop passing your uncertainty unto others.
KeZa,
You assume that the new system will be better than the old, and there is no foundation for that. In fact there is much more indication that it will be worse. Charlotte, NC may be the tip of the iceberg.
Then also you assume that precious metals will not be a part of the new system. History does not bear this out. Many countries in the world do not indicate abandoning precious metals. IF there is some system which does not include them for the future: then it will be La-la Land. The rose-colored glasses of “evolution” guarantee nothing to the wearer.
Charles H
Keza – When the system breaks, “real life” will dictate what happens in real life… those with talents to produce (produce food, fix your toilet, treat those in need of medical assistance, mechanics, etc., ) will have to bargain for something? Paper dollars and bitcoins just do not seem to meet the definition of payment. I pity those kids out of school with a social science degree whose only real life job experience is tending bars and serving food. Have real skills that others need/require to live. Those that do not have these skills, it is tough to know how it ends for them … lawlessness will definitely be an outcome.
Perhaps. I think the PMs are logical if we are looking at a mildly significant “reset” . You know, the dollar is replaced as the only reserve currency ( as per Jerry’s numerous warnings) .
However, if we slide into a much nastier conflagration ( say the Empire attacks N Korea) and things go fubar, then survival needs will laugh at PM holding awareheads. Imho of course.
Thank you all for your comments. And yes I know the quality’s of silver etc.. I follow also science and so on and I do think there are new technologies coming with better quality’s then silver for conducting, anti bacterial and so on. So for me this is not the way why I have silver and gold now. If we think that we now here are at the top of the pyramid already and over 100 years it is all the same and we are buying gold and silver etc… , that is hard to believe for me. Follow quantum mechanics etc.. What is Gold and Silver really made of? Take silver… its atoms are held together by the “metallic bond”. In a sense, any piece of silver, no matter how large, can be regarded as a single molecule with all the atoms participating in the shared metallic bond. However, it’s much more common to think of it in terms of single atoms. A single atom of silver is also a molecule of silver. So maybe we can make silver in the future or another better material? They are making diamonds these days. So I do not think that Gold and Silver are the future money. I follow a lot and there is a lot of change coming, so I think it is not smart to look at the history and take it into the future. And modern technology is not the technology of the future. There are that say it is ‘modern’ but I say it is prehistoric at best because how many problems have we with it? Can we even buy a computer and power it on without any problems with it? Search the internet and you see how prehistoric it is. You say smartphone.. I say dumbphone. I see it in short that there is a evolution of consciousness and we live now in a system that is based at quantity and not quality & durability. Money talks and it must be fast produced and when this changes due to the evolution of consciousness, then it will all change. Even gold and silver dear friends because what must we do in a system, that is based on quality & durability, with gold and silver? We cannot eat it and when the system changes for the good, and it will someday, then we will talk again but for now yes take gold and silver but also do not rely solely on it as a remedy.
Gold and Silver are like DNA – in Nature, which has it’s Laws: there comes a point where one won’t get away with fudging or breaking anymore.
You hypothetically argue that Nature can be changed; suggesting that molecular arrangement will eventually be possible – then value by elemental distiction disappears: I disagree. THAT Being, Who arranged everything, in it’s order, function, and nature – won’t let man go too much further.
By the way – gold has been used to treat arthritis for decades; and colloidal silver certainly IS eaten.
Cryptos also have their own problems. Since their supply does not grow with demand. Those in first , profit the most. This is like having a 100% gold currency whereby a few in a currency collapse assume most of the wealth. The bankers are also invested in cryptos and they like instability to make quick profits and to create uncertainty to scare investors away. For cryptos to act as money they need stable steady growth that reflects the real economy but none will change their formulas for growth since speculators are looking for the next new crypto to make huge gains.
Cryptos…dependent on electricity, internet, crime ridden bankers and governments. What are the odds on any of the above?
APPEARS AUSTRALIA HAS IT’S OWN PROBLEMS?
https://youtu.be/Hw3Dc1Wjjso
People are waking up to the bond bubble, too. So switching to metal
is probably what many of them are doing. Not just the
geopolitics of ongoing war or new wars creating a solid rally.
The Pento interview was timely here. Other big bond names are
saying the same thing. It’s catching on . . . Don’t measure bonds
by their % rate levels as the price is skewed by monetization.
The world banksters have a more encompassing view … they don’t want to reset things just using precious metals … they want to use “all the physical assets in the world” to back up their crypto SDR … this means … they plan to do what FDR did back in the depression (FDR confiscated your “real gold” and gave you worthless paper dollars in return) … what the world banksters want to do now is not just confiscate gold but confiscate “ALL TANGIBLE ASSETS IN THE WORLD” and give you a “bit coin token” for it … not a paper or a plastic token … but an “ethereal electronic token” for your real assets (your house, your car, your food supplies, your guns, etc., etc.) which they “Take Title To” … so get it straight in your minds people … these evil Satanists are planning a reset whereby “they take title to all the real physical assets in the world” and they give you in return a “bit coin” which is simply a worthless electron in a computer!!
Now what can we do to stop the world banksters from confiscating and taking title to our real property? … we must use the power of our Constitution … by which we have a right to life , liberty and PROPERTY … and an outside agency (the IMF) which is not part of our government has no legal right to seize and take title to our homes, cars, food, or anything else … unless … we “voluntarily” buy into their bit coins with “our real wealth” … can anyone see what is happening? … do you actually believe converting your real wealth into ethereal electrons on a computer is eventually going to be more valuable then gold in your hand, a car to drive and a house to live in???
EvG says “something is going to happen … people smell it … and they are moving into gold” …… that something is a “trade war” with China (and it begins tomorrow) … smell the coffee as it is good (and cheap) right now … trade wars will push the price of all imported goods through the roof … talk about “negative interest rates” on your stored wealth … “inflation” will bring a reduction in the value of all your stored wealth (in fiat dollar terms) … so people are moving into gold … all the tea in China can be used to back up a bit coin … but dipping that coin in a cup of hot water is not going to brew you anything … to physically get hold of one tea bag you will have to fork over a little gold (or “a million fiat dollar” bit coin)!!
I agree, especially about the coffee; I cannot live w/o my 3 cups in the am. When a trade war goes viral, good coffee, by the pound, could reach $100. BTW, I remember Columbian Puro at 39 cents per pound; those were the days.
andyb … if you can’t live w/o 3 cups of Jo every morning you better stock away a big supply “now” … my needs are two thirds less … one cup of Jo per day is fine … but I do enjoy more then one cup of tea!
Imagine the crazy world the Satanist banksters are planning for us … we will have one bit coin backed by tea, another bit coin backed by coffee, another backed by gas, and on, and on, and on … so you will not necessarily be able to buy gold with your coffee backed bit coin or your tea backed bit coin or any other of the thousands of bit coins that will be created if the seller has no need for those items … however … with a 1/10th oz gold coin in your pocket you will be able to buy anything (as gold is God’s universal money)!!
Do You Remember These Statler Brothers
https://www.youtube.com/watch?v=KXtR-CaK6p4
Gum was 5 cents a pack too !!
If this limp economic expansion continues much beyond 10 years they really will have subverted the laws of economic reality – until the currencies crash!
This sceptred isle,
That is exactly what I was thinking 6 years ago.
Australian government commits to a US-led war on North Korea
At The Hip . . ..
https://www.wsws.org/en/articles/2017/08/12/turn-a12.html
By Mike Head 12 August 2017
https://www.youtube.com/watch?v=FRf-g9aSdfU
It’s the ANZUS agreement
The problem is china controls north Korea as the regime would topple without Chinese trade. Kim yong un could not survive without Chinese consent. China want a buffer state between themselves and American occupied south Korea and will see an attack on north Korea as an attempt by america to advance on China’s borders.
I feel like all this is designed to detract from the enemies within. Classic look over there whilst we steal your wealth and confiscate your civil liberties.
TSI, And ‘they’ have been doing quite a good job of both stealing wealth and derailing un-alienable rights and freedom for some time… They = Pilgrim Society and their minion in the CFR that are the historical riggers of the PM markets…
http://vaticannewworldorder.blogspot.com/2012/05/pilgrim-society-hidden-structure-of-new.html
This sceptered isle,
If China snactioned N. Korea knowing the regime would topple without Chinese trade, what do you think the little fatso would do with his new toys?
N. Korea is not a threat to us but she is a real threat to Japan, S. Korea and CHINA!
TFH – China is learning the laws of unintended consequences … you spoil the brat (NK) by allowing them to continually stick a prick in the west’s side and one day they grow up and get nukes that can reach a far … The West finally/now has a President that says no more, no more! Now what does China do with their grown spoiled Brat? A temper tantrum from a nuclear power can get real ugly!
Buffer State. Exactly.
Please clarify for me: Does the president need congress to vote a declaration of war before engaging warfare at the level Trump is threatening? I haven’t read one reference to this issue in alternative or Main Street media.
Jim,
The U.S. Constitution gives the President full military authority as Commander-in-Chief. Even the Joint Chiefs cannot overrule him, if he decides to go against their recommendation. That is, unless they would declare mutiny against Trump.
Congress is given the “power of the purse.” So, without a formal declaration of war, if they disagree with Trump’s action, they may vote to rescind funding (where federal depts and agencies, such as the Defense Dept., are ordered to give back funds to Congress even if already appropriated).
Through subsequent amendments and Presidential executive orders in the 20th century, if a national emergency is declared, and martial law, all bets are off, since our traditional Constitution and its provisions would be “temporarily” suspended. In most countries where that has happened, temporary becomes permanent.
All quite sobering indeed.
We are still at war with North Korea. A cease-fire was declared, but the war has never ended.
My current understanding is he has 90 days he can operate militarily. Past that, congress needs to fund or declare depending on issue.
The USMC is the 90 day reaction force ussually. However, the Korean peninsula is at state of ceasefire only. The war is considered not resolved at the 38th parallel.
In the olden days we always needed approval of Congress … but with all the wars the neocons have created for us over the last 50 years the President and Congress probably feel like we are in “a state of constant war” and thus there is no need to approve anything … the Commander and Chief just has the right to bomb any country in the world he feels needs bombing … this is the result of the American people allowing our President to bomb “individual people” with drones … now the President feels he can bomb any “individual Nation” without the approval of Congress … war is in Nazi blood … and soon they will probably be creating a Skull and Bones Bit Coin (backed by the American people) … the banksters will print money “out of thin air” to buy these S&B Bit Coins and they will rise and rise as we war and war … the only problem is the bankers want to reduce the American population using GMO food, vaccines, fluoride, aluminum, cell phones, etc that cause cancer … thus as time goes by there will be “less and less Americans” backing up the S&B Bit Coin (just like as time goes by their will be “less and less” tea in the Chinese warehouse backing up the new Tea Bit Coin) … I hope everyone realizes that even if the banksters new SDR Bit Coin “is backed by a warehouse full of Gold” … will that gold “be there” in a few years? … or become like Fort Knox (with nothing in it)!
Paul,
“…as time goes by their will be “less and less” tea in the Chinese warehouse backing up the new Tea Bit Coin”
I think the problem with Tea Bitcoin is that, like wine and diamond, some tea worth a lot more than other tea. Even real estates are not equal, a condo across the street from Central Park is not the same as an ordinary condo in the Bronx.
There lies the problem with assets back crypto currency.
While I agree with most of what Egon von Greyerz says in this interview, there is one thing that he and some others seem to be wrong about and that is the amount of derivatives that there are today. There is no evidence to support that there are currently 1.2, 1.5 or 2 quadrillion in derivatives. Yes, several years ago it might have been an estimated 1 quadrillion or so, but all the data since clearly shows that the amount of derivatives has been declining as banks have been reducing their exposure. Even derivatives expert Rob Kirby just stated a week ago that there has been a SIGNIFICANT reduction in the total amount of derivatives outstanding in the last 3 years.
Rob Kirby’s statement is at the 14:40 mark.
https://www.silverdoctors.com/silver/silver-news/rob-kirby-on-overnight-hyperinflation-will-turn-wealth-turning-into-tapioca/
JMiller
Excellent post, thank you.
Egon von Greyerz referred to a $1.5 quadrillion amount in derivatives outstanding in his interview with Greg more than once.
Ron Kirby didn’t actually state a dollar derivative outstanding amount in his interview, (so he could be in agreement with EvG’s numbers) but he did indicate the amount had been Significantly reduced over the last 3 years, as you pointed out.
Perhaps Greg could reconcile both gentlemen’s figures by emailing each and asking for clarification on the subject.
If……….. as you suggest, that the dollar derivative outstanding amount is less than a quadrillion, that would be a very material discrepancy from what is stated in this interview.
Good idea Macray. I would like to know just what Rob Kirby believes the total amount of derivatives outstanding is today so I just emailed him to found out. Estimates are any where from $600 trillion all the way up to $1.5 quadrillion. And that estimated $1.5 quadrillion number has been around since 2010. I believe that $1.5 quadrillion number could be because they are making the mistake by double counting the derivatives contracts. Will let you know what Rob Kirby says.
Well I got an email response from Rob Kirby.
My question to Rob Kirby:
“You were interviewed by Craig Hemke a little over a week ago and you stated that there has been a SIGNIFICANT reduction in the total amount of derivatives outstanding in the last 3 years. Could you please tell me what you believe the total amount of derivatives outstanding is today?”
Rob Kirby’s response:
“I do not make this shit up: according to the BIS at end of June 2016 – total aggregate outstanding notional derivatives was 482.9 Trillion
http://www.bis.org/statistics/d5_1.pdf
for more up-to-date info specifically detailing American banking institutions – go to this link:
https://www.occ.gov/topics/capital-markets/financial-markets/derivatives/dq117.pdf
Here, at this link, at table 2 – you will see that American bank holding cos possess 242.9 Trillion in notional of the overall (global) outstanding notional as of March 31, 2017. There is some overlap in dates – but you can do the math.
Table 2 in the same US publication back in 2013 showed total American aggregate derivatives exposure as 296.8 Trillion in notional:
https://www.occ.gov/topics/capital-markets/financial-markets/derivatives/dq113.pdf
BIS data has shown the same downward trend in outstanding notionals over the years.
Hope this helps,
R”
So based on Rob Kirby’s response he accepts the BIS and OCC report numbers. So the total aggregate outstanding notional derivatives was 482.9 trillion at the end of June 2016. This is way less than a quadrillion.
However that link to the BIS report, is only for OTC derivatives and does not include exchange-traded derivatives which there is almost $100 trillion.
http://www.bis.org/statistics/d1.pdf
Also that link to the BIS report, that Rob Kirby gave, is the semiannual report which only covers 13 jurisdictions. The triennial OTC derivatives report covers as many as 53 jurisdictions.
http://www.bis.org/statistics/about_derivatives_stats.htm
So based on the data there are probably about $600 to $700 trillion in total derivatives. However someone will say, yes but the amount of derivatives is much more but it is just not being reported. Of course they never provide any real evidence for their speculations. I think the BIS data covers the majority of derivatives out there so I think that 1.5 quadrillion number is bogus.
Mr. Miller, the thing can go bust without a single derivative. But it is good that they are on the decline. I don’t think anyone really knows the extent of all the shenanigans. I enjoy your reasoned and informed counterpoints. Best always. PM
This is what a country looks like when fiat currency runs its final course. Fiat works fine in the beginning because everyone wants the best for themselves. Fiat fails for the same reason. Greed without restraint.
Obama violated so many laws of the constitution today no one knows who decides on anything concerning war. We have a divided country. What could go wrong ?
He references Clif High in making a point,didn’t Clif say gold is going to be worthless in the near future?
One thing I don’t understand if they {the banks } are printing money why are they trying to go cashless? Are they trying to print digital money? Is this just another form of bitcoin?
They are expanding debt. No money changes hands. The credit is magically created out of thin air and loaned to you on your promise to pay them back plus interest.
Years ago we would work, save up money, then make a purchase with cash.
Today, we demand an entitlement, save no money, and make a purchase with credit.
Thanks Greg for bringing Egon von Greyerz on once again for a good dose of reality.
I’m just so exhausted with people trying to convince us all to live in a virtual world of paper assets, cryptos, virtual news, and virtual freedom when in actuality we are increasing living is a well orchestrated world of illusions. Thank you for reminding people that gold and silver are real things. IMO, like bail-ins, the crypto narrative is a trail balloon, an attempt to see how willing people are to accept a virtual reality of wealth. Paper gold was another virtual hat trick. Virtual money is an illusion very much like believing that one owns one’s house or car when one has a mortgage. Now the virtual fraudsters say we can escape death by uploading our minds into a computer server that they control. Death slavery is one thing, stealing one’s soul is another.
Your podcasts bring us back to reality, reminding us that critical thinking liberates our minds to live in the real world rather than a world of illusions and self-focused preoccupations fostered on us by the purveyors of a virtual, soulless existence.
The trans-humanists would replace spiritual union with the cosmos with ray kurzweil’s technological singularity.
Yes, I like that world “singularity” to describe the direction that we are headed (or herded). It seems like they plan a chilly future for us – no real connection to anything – just the singularity of group think, virtual isolation rather than social interaction, self-focused identity politics (rooted in such ideas like “the world owes me something”) versus an other-centered view of the world that values helping others in need.
The virtual world is not our shepherd, it will only lead us into the singularity and no more.
There is no safe space, I repeat, there is no safe space. There never has been or there never will be, until the second coming. To achieve and enhance a higher level of financial safety, each individual should examine the counterparty risk of “each class of assets”. The debt that Egan spoke of, and Greg educates people on, has two sides of a trade. On the obvious side; the debt-side, it is another person’s liability. On the opposite side; it is another person’s asset. These assets are tertiary assets, which is nothing more than a paper claim on debt. Physical gold and silver that you physically have in your hands are primary assets. It has low counterparty risks; however, it can be stolen or seized by a desperate government… if they know you have it, and its price can be manipulated. Greg wisely suggests that people should have new tires on their cars, or extra food in their pantries. Anything you own and touch can have lower counterparty risk. The more self-reliant a person is, the more they can help friends, family, neighbors, or even a stranger. When and not if, the house of cards collapses, will you be part of the problem, or part of the solution? Ultimately invest in God the Father, as Greg advises. Godspeed
We have real and we have the dollar. These are opposing forces. We must get into real. Todd
http://thebulletin.org/north-korea%E2%80%99s-%E2%80%9Cnot-quite%E2%80%9D-icbm-can%E2%80%99t-hit-lower-48-states11012
One can either accept the propaganda or the best scientific assessment.
THE MYTH IS THAT NUCLEAR BOMBS WORK…… THEY DON’T. It’s a scam
The world is run by psychopaths. Psychopaths have no empathy with normal people. They would use atomic weapons (if they worked) at a moments notice. They have NEVER been used (Hiroshima and Nagasaki were firebombed). Atomic bombs were never used in Vietnam and the USA lost that war. They would have used them if they worked. The Atomic club was formed at the end of WWII by USA, Russia and UK. Others were eventually let into the secret. Nuclear war is to scare the peasants (you and me).
ALL films of nuclear explosions are easily shown as fakes.
Also note that ALL brick buildings were left standing after the firebombing of the mostly wooden buildings in Hiroshima and Nagasaki. The Bank of Japan building is still there today.
I doubt if Kim or Trump are even aware of this.
We’re living in a paradigm whereby one HAS to be cognizant of wealth creation/preservation through individual means. The tanking of pensions bears this out. Believing in ‘passive investment’ as Katherine Fitts refers to is simply a trade based on the old concept that things will always be the same and interest will always accrue in this overly leveraged system. I think this is what confounds people about BTC and crypto’s in general. I own it and metals. Got out of my IRA. I follow Greg M.’s advice of ‘be your own central bank’. Will I do well in the end? Who knows. We all believe in our own endeavors. What I’m hearing as BTC goes up is a lot of nay saying. From metals people in particular. If the ‘FUD’ factor is to be believed then it doesn’t matter what you own ‘they’ will not allow you to own true wealth. I personally can’t live like that. I witnessed FUD fueling the Y2K hysteria. Might as well put a bullet in your head if one is going to be paranoid. What I’m happy to hear out of EVG is in his closing remarks. That we shouldn’t live in fear and live life. Awareness,forethought and preparation is all these analysts are talking about. Life WILL go on no matter what happens. Enjoy the ride!!
I always wondered about that. All those post-WWII nuclear tests should have severely damaged the atmosphere. And if fracking causes earthquakes, then why didn’t underground nuclear tests trigger them. I wonder if those horrific atomic bombs were actually radiation bombs combined with fire bombs. Some Los Alamos people were concerned that the atomic bomb would ignite the atmosphere. WWII Germany, as I understand it, was working on a radiation bomb, not an atomic blast bomb, while the USA was well along developing hellish fire bombs.
Billiam,
Apparently not having USAWatchdog.com left you with a deficiency at the turn of the century and since. For your information billions were spent to dodge the Y2K Bullet. A lot of hard spent and even, painstaking tedious, work to prepare for the turn over to the 2000 digit, even embedded systems, too, instead of flipping back to 1900, would have been comparable to an EMP DROP by North Korea today.
Here’s another truther bomb for you. Donald Trump didn’t start the birther movement. Hillary’s campaign manager Sydney Buementhol created the birther movement to defeat Barrack Obama in the 2008 campaign for Hillary to be president, not Barry!
Much more Truther bombs ahead!
Bill/Will, The mocking bird brained Morell/Brennan/ Clapper /Muslim Brotherhood Shadow Madcow Deep Creep Government Sore Arse bought and paid fer media cant handle the truth, but! And thats a big but tfor you Georgie! The truth Bill, will set the Amerikan sheeple free and the above in prison! You have me woid on it!
How refreshing to have a seasoned pro on.
https://www.youtube.com/watch?v=q048FZ14G_E&t=991s
I think what Jsnip and Bix don’t understand, is that their true nature is shining through. Bix chuckles and smirks during his response video to Lynette. That is meant to belittle and shame her. It’s a form of sarcasm. Jsnip is close behind. There’s an old saying that you can be right in your assessment and wrong in your attitude. That’s what’s going on her mostly.
I like the guest, but disagree with him about gold. Gold hasn’t been good investment for the last several years. As mining it becomes easier, supply increases and the price will decrease or face downward pressure. Mining companies are increasing production and lowering costs, every year(just Google the fact for yourself ).
Are you saying you think there is going to be excess supply of gold causing a glut in the market thereby driving prices down? I’ve never heard that assessment.
Tracy,
Thank you again for the Support at PP!!!
Greg
Tracy
He said “Just Google the fact for yourself”!
Nothing more needs to be said here : )))
Tracy
Here is a report from the Don’s favorite wall street investment firm!
‘Peak Gold’ in 2015? – Goldman Sachs Research Warns of Peak Gold Production
http://www.goldcore.com/us/gold-blog/peak-gold-in-2015-goldman-sachs-research-warns-of-peak-gold-production/
Any gold glut won’t be coming from California if the solar eclipse due next Monday gets the magma in the States 8 active volcano’s erupting … http://www.zerohedge.com/news/2017-08-13/usgs-warns-california-needs-close-monitoring-8-active-volcanoes
Trust Google?!??? What is the Matrix? Control.
this guy sells gold what do you expect him to say? Pm which are going down for years is no form of protection for anything.
Ecobel,
You must have flunked history.
Greg
ecobel,
Gold is a lousy investment indeed but it’s the best insurance/protection you can get against the reset.
Von Greyerz stores gold as well, for others. He puts his for tune where his words are; which is hundreds of times better than believing the lies slathered by the System used to protect the fiat Dollar.
Greg — Thank you for having Egon von Greyerz back on. He seems to have a good sense of how things will proceed from here. I cannot take issue with anything he stated.
Thomas Jefferson once said something to the effect of: “The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.” We seem to be arriving at one of those times. Bankers, elected & unelected officials and a few oligarchs who own them, may be in for some blood letting; the tree is thirsty. I’m sure many of them would prefer to kick the can and keep the status quo going forward forever. It can’t, therefore it won’t.
A few smart folk have said that, ‘Trade wars lead to real wars.” (Gerald Celente, Jim Rogers and probably somebody else). We need to be careful in what we wish for. I think we’ve seen enough of wars that seem to accomplish nothing.
Lol. Wasn’t Thomas Jefferson a slave owner???
One that conducted the nation from one paradigm to another by his vision. Slavery has been found thousands of years – do you think a young country could effect such radical change overnight?
Apparently George Washington freed all his slaves whilst Thomas Jefferson didn’t. Jefferson was clearly an intellectual heavyweight but paradigm changes are brought about through actions as well as words which is what makes Washington a man of great character and Jefferson hypercritical. Weak man – born wealthy, got into debt and did not have the courage of his convictions. Ultimately we are judged by our actions not our words. This is what marks washington out as great. He willingly relinquished power when he could have become a king and freed all his slaves. By his actions he set an example and manifested the paradigm change that Jefferson could only dream of.
It would be nice to say that I knew both Jefferson and Washington personally and intimately; but I can’t. I’d like to say that I understand all the family, personal, business, political issues and forces that surounded each man: but I can’t do that either.
I would like to say that I am an expert in American History, and that I can relatively wade through the volumes of writings concerning each man – and so gain a good center on each: but I cannot.
About all I CAN say – is that almost everyone, to the man, who signed the Declaration – did so as if signing their own Death Warrants. In this light, I do not place such importance upon freeing the slaves as a defining issue to value one over the other. Brothers in the same family don’t turn out the same.
So when someone, like yourself, places a big negative distinction on Jefferson – when we ourselves don’t know what it was like living at that time – it comes-off as an easy shot. We can’t know if Jefferson felt that by keeping his slaves, in that paradigm, wasn’t better for them than having Washington’s freed slaves fend for themselves.
So in using just one distinction, as an act – to be a defining issue to a man’s life: just isn’t very fair. It is almost like saying that a man who got divorced is so much less than a man who stayed married. Sometimes simple comparisons are just not valid. And neither of us are of such stature as to condescend upon any Founding Father. At least, this is how I see it. Please do not take offense. CH
Does that mean we cannot judge any historical figure based on their actions or lack of actions then? What you are saying then is history should place no judgements on anyone unless we knew them personally.
No. What I am trying to say is that we have neither experience nor standing to judge. Likely, if you had lived in that system and time: you too would have owned slaves. But you are here and now – so it easy to pass judgment.
I am not trying to say that Jefferson was a bad person. I am merely saying that, in my humble opinion, he falls short of greatness because he did not rise above the conventions of his time in his actions even though he wrote a lot about implementing a different system. Washington, by contrast, actually rose above the conventions of his period of time by his actions. By releasing his slaves and voluntarily relinquishing his power when he could have become a king he helped promote a new form of consciousness that would be the foundation for a new paradigm.
TSI,
You have to be kidding.
Greg
The past misdeeds of some of the founding fathers will be used by the leftists and globalists to undermine America’s constitution – be prepared!
Jefferson’s own words condemn him as a racist. He did not release his slaves as he feared they would cause trouble to the wider society. However, if he felt that the slaves were better off remaining slaves why did he free his own slave children?
The 1700’s were a different time. I wonder if Thomas Jefferson saw the irony when he penned those words.
It is no good writing about freedom if you perpetuate the system of slavery – or is freedom just for white folks?
sorry, this was meant to be a reply to Greg Hunter above.
But you are right about Jefferson, Greg – it takes a special human being to be hypercritical on such a gargantuan scale!
oh, and he ran away from the British in Virginia, leaving his peers to defend themselves.
Not that I am saying I would have done anything differently but I cannot view someone who actively worked to undermine the freedom of slaves (despite his lofty written words), got his 14 year old slave wife pregnant and ran away as great. High standards!
Evil & Ingenious
Speculation has it that the reset will involve SDR’s and blockchain technology. They want to digitize all assets. Example: Lets say your $300,000 house is paid for. They will replace your title with a $300,000 crypto currency, making it easy for you to spend your house. So what you say: I’m no fool, I will not spend my house. But here is the kicker: your house and everything you own is now in the banking system so when negative interest rates are implemented your house equity is now being confiscated by the banks. If there is a bank bail in, you will not just lose money in your bank accounts, but also your assets. Your freedom then will be gone and you will become a slave to the banks.
As the banksters gather round the bar … to celebrate their new bit chain technology (they plan to wrap around the block heads of the world) … one bankster raises his glass and bemoaningly states: “blessed are the poor … for we can’t rob them anymore”!!
Great interview. It was interesting to listen to his comments regarding the government. Mr Hunter you are right, President Trump has at least 50% of the people and it may be growing.
Greg D
Who really says Bitcoin is worth anything??? It’s the 1%ers. It’s the people who have them.It’s the 1%ers who got Bitcoin, 10 for a dollar. And it’s their job to sell the idea to you. The idea that they are valuable. Do you think Branson and Gates among others would sell you one for 4k when they keep saying it’s going to a million? That wouldn’t be a good business decision. Why would anyone sell you one if that’s true? Who is going to give 250 thousand dollars with hopes it’s going to million? My bet its the drug dealers who have Bitcoin more than anyone. The inventor of Bitcoin is an unknown. He has a Japanese or Asian name. Could it be a government? The NSA? The drug cartel?
They call it Bitcoin, but it’s not a coin at all. Why is that? Because if they really made them and you seen them and held them in your hand you would see they are not worth anything. What could it be possibly made out of? The fact is they need your imagination and your emotion, your greed. They need the stories of people becoming millionaires from buying it just like tulips. They need a fool greater than them.
I might add that’s it’s accepted hardly anywhere. And it’s not legal tender, let me repeat that it’s NOT LEGAL TENDER.
It’s like a computer game. Besides, I believe you need a third party and or the internet to verify you still have it, why is that? Because its virtual. It’s not really there. They are selling you a virtual coin that they got for 10 cents for 4 thousand dollars and you are buying it with the hopes of someone paying you even more. And hoping like all hell that it doesn’t go back down to 10 cents.
I hate to say it but its kinda like the U.S. bonds that we print up and trade them for foreign cars and oil and other stuff. As long as some Country is dumb enough the trade real goods for printed paper we have to be smart enough to give it to them. But at least we are the reserve currency.
gregd … perhaps we will luck out and be saved by the crooks in Washington DC who don’t want to be robbed by the crooks at the IMF … http://www.zerohedge.com/news/2017-08-13/us-launches-quiet-crackdown-cryptocurrencies
Excellent overview of where the world is financially. Add to Egon’s comments regarding government debt, the public sector has also been spending money that they do not have; which I think is eactly what our government wanted us to do!:
the monthly update from the Federal Reserve confirmed that as of the end of June, total revolving (i.e. credit card) credit rose to $1,021.7 billion, an increase of $4.1 billion on the month, and a new all time high, taking out the previous record high set during the summer of 2008.
http://www.zerohedge.com/news/2017-08-07/us-credit-card-debt-surpasses-financial-crisis-record-student-and-auto-loans-hit-new
And, on top of that, not sure of the exact number, but it has been reported many times, that more than 50% of Americans have basically zero savings.
So, as individuals, if one has savings, they need to protect those savings from thgose out there that want and need (your) money.
Gold and silver IMHO remain as the best options to hopefully maintain some or all of one’s savings.
Global economic expansion was made possible by getting off the gold standard and on the debt fiat currency model. If the gold standard returns how will it support the fiat reliant economy?
Dwain,
The problem with the gold standard is that the gold price was fixed at $35. The problem can be solved easily by letting the gold price float freely against all fiat currencies.
The only reason to fix the gold price under the gold standard is because we didn’t have computers back then. The only reason we are not going back to a new FreeGold standard is because the banksters’ love of printing gold out of the thin air.
Tin Foil Hat:
I have no concern about the price of gold now. When the collapse comes, my silver will carry me through, and my gold will help me get reestablished when the collapse is over. Until then, I will bide my time.
“my silver will carry me through, and my gold will help me get reestablished”
That’s exactly what I’m hoping for. However, nothing is guaranteed.
Me too Tin Foil We will both do fine I’m sure God bless
Tfh,
I somehow get the impression that the future events coming up – will not bring out the best in men. The generation which faced the Great Depression of the ’30’s were substantially different than those today. The Great Generation blamed themselves for somehow causing the Depression, and took in on the chin, with patient endurance. Folks today blame-shift, get angry (triggered), and often violent. The whole world has been “Sheepled-down” and thought-shaped.
But I live in a Third-World country: so I already expect cultural incivility on a grand scale. Still I hope like you guys.
Thank You!!! Egon von Greyerz is one of my favorite guests! So glad you have him back on. Although gold’s lackluster performance has recently made me venture into cryptocurrencies (which have done very well for me), gold was, and always will be, my favorite. Still buying gold and silver to maintain my wealth and because I love the metals, but crypto is providing me with some serious spending money. Also because I am making money off of cryptos, I don’t worry about the gold price anymore. But hats off to all those like Egon von Greyerz who know the true value of gold and silver.
Thank you so much Greg Hunter; you are providing an essential public service at great sacrifice to yourself. I truly appreciate what you are doing. I feel so humbled by your actions that I feel unworthy to state my opinion. However, as a member of humanity I must overcome my fear and, as you Americans say, “walk up to the plate.”
Adherents to Christianity will recognize the phrase, “The first will be last, and the last will be first.” That phrase describes present financial events perfectly. The present seems so tumultuous to so many of us, including myself. Tumultuous times are not uncommon in human history. That simple phrase, “The first will be last, and the last will be first.” encapsulates one wise man’s description of events that he experienced.
Another wise man is Egon von Greyerz. He has been an honored guest on USAwatchdog.com numerous times. I have listened to his words intently. He is a good man and strong, and I have no doubt he can, “take a hit.” I am going to hit him because he represents a perfect example of “the first,” (nothing personal).
Egon von Greyerz is well known as an exceptional expert in the financial world. The financial world is undergoing a rapid revolution. In fact, financial matters such as, banking, fiat currencies, monetary debt, are going to be irrelevant and historical in the intellectual reality that is evolving now. Egon von Greyerz is like a master blacksmith during the evolution of the automobile. I do not need perfect shoes for my horse because I have a new automobile. I will not need Egon von Greyerz’s advise and wisdom because I will not need money, just as I do not have a horse.
Thank you Bruce. You are very kind to comment and support USAW!
Greg
Evolving to another, electronic paradigm? Or just another way of appearing nice and discounting someone completely?
There are many who are true believers in the new, AI/electronic world of developing technology. We know how Atomic Power has worked out – MAD (Mutually Assured Destruction); and more nuclear waste than can be stored; along with Fukushima. But computers won’t hurt us!
Those who subscribe to the idea that – the problems mankind suffers from are man made and therefore can be solved by man: is flawed and errant. If mankind were inherently good – why are there Laws, and penalties for crime? Shouldn’t inherently good mankind not be fettered with Laws and penalties at all? How would THAT work out, except to revert to the Survival of the Fittest, aka, the Law of the Jungle? Where is the Intellectual reality in that?
Also – the person who said: ‘And the first will be last and the last will be first’ was no mere wise mortal; NOR did it emcapsulate the events He experienced. How interesting you can so twist this saying by reassigning to it a meaning it doesn’t have. Smooth.
All the technology extant will be put into use, so that a dystopian Minority Report future comes into being; implanted RFID chips and all: but you won’t be a button, just a cog to be slave the machine. Pave Paradise, and put up a parking lot.
“nice and discounting someone completely” are your words, not mine.
This is true, Bruce – I summarized. Empathetic Counseling teaches to mirror back what people express in such a way as they can see through the councellor – what they cannot see of themselves through rephrasing. Assigning to Mr Von Greyerz, from your comment, a position of “irrelevant and historical in the intellectual reality that is evolving now” – seemed fairly correct as a ‘complete discounting’ in rephrasing. This is my perception.
I cannot share your faith in a better future. And I cannot, in my place in time, throw everything in the past away – for the uncertainty of the Future. There is a continuity that holds to the BOTH: which prevents radical change. Change is inevitable: but not all change is for the Good. And life isn’t like the Italian School of Driving – where one tears-off the rear-view mirror; because everything behind you doesn’t matter.
Speaking of ‘risks’, here is just one more in a line of imminent government crackdowns on crypto’s. Its way too easy for criminals and terrorists to launder money or perform otherwise surreptitious activities using crypto’s. Dream about getting rich all you want being in Bitcoin, but don’t say I didn’t warn you when Bitcoin and other crypto’s start crashing like crazy, when even more serious lockdowns by governments impinge on this digital ‘funny’ money.
http://www.zerohedge.com/news/2017-08-13/us-launches-quiet-crackdown-cryptocurrencies
Excerpt:
“As Coinivore reports, the bill requires the governments to develop a “national security strategy” to combat the “financing of terrorism and related forms of illicit finance.”
Governments will be further required to monitor “data regarding trends in illicit finance, including evolving forms of value transfer such as so-called cryptocurrencies.”
According to the bill, an initial draft strategy is expected to come before Congress within the next year, and will see input from U.S. financial regulators, the Department of Homeland Security, and the State Department.”
And remember the phrase” Guilty until proven innocent, which means they (governments and our own IRS) will whack you silly, and lock down your bitcoins, until proven that you aren’t doing anything illicit. This stuff is so far out of their realm of control, that they will over-react, and reek havoc on coin-holders whenever and where ever they feel like it.
Personally, as much as anyone cares to rip on US dollars, I can still hide them, use them nearly anywhere, and they are virtually untraceable. Gold is not quite as portable or useable anywhere, and neither is silver, BUT they are still very tangible, hideable, and untraceable, meaning they don’t have ANY digital foot prints, and you don’t need the power on, or the internet up, to use any of them.
P.S. Thanks for punting SCOTT, Greg. He was really annoying, and beligerant at times. You deserve far better, and you gave him a ton of room and slack to ‘behave.’ You’re both a ‘scholar and a gentleman.’
Thank you Mike!!
Greg
Hi Greg,
I am writing to bring to your attention and that of your audience this report on the recent events in Charlottesville which go right to the heart of the first amendment. As always Greg, the grace and peace of our Lord Jesus Christ be richly with you spirit for God has not given to us a spirit of fear, but of power and of love and of a sober mind. (2Tim.1:7)..https://www.youtube.com/watch?v=4AOx7NMbMkU. Also see Stefan Moleneux with Faith Goldy http://www.naturalnews.com/2017-08-12-best-explanation-yet-of-what-happened-in-charlottesville-stefan-molyneux-and-faith-goldy-report-the-truth-you-wont-hear-in-the-media.html.
Egon seems to be watching the same people we watch such as Clif High and you Greg. He happens to agree with Clif at least for the short term that bitcoin and cryptos will keep going up. Great, when that’s over that money will be looking for a safe haven, what’s left but Gold? When will this happen? It could be soon, I’m sensing it like the big money is sensing it.
I purchased a small amount of crypto two months ago and it became real when I could actually see my money electronically travel from my bank to a crypto exchange. That’s as real as fiat gets. All the bank has to do now is not allow such transfers either way and there goes the cryptos down the toilet, because they are valued in fiat.
I agree with Egon that hyperinflation is inevitable and I’ve been beating that drum too long. It will be the most significant historical event of our time. America will be ground zero for the agony and pain, and most other “paper” currencies are also iron chain-linked to that same sinking ship for many of the same reasons. China and Russia are relatively untethered as they seem to be far along in their transition to a more credible substitute in trade and banking, hence the East will have even more dominance over the west because of their sound money.
The Deep State can only try and prevent this development by WAR, but I think it is futile to stop this, except only through reindustrializing America and by reinstituting sound money. The Deep State hate that worse than Trump! It does not matter if war starts in Syria or Iran, or with that Korean dude with a really bad haircut. I think the Deep State is in collusion (not like that fake Russian collusion the fake news always reports) with the world’s Elitist cabal to destroy America from within by collapsing our economy and from without by allowing a nuclear war to destroy many of our cities and infrastructure. They are vile human beings.
Interestingly, I also happen to believe that we should watch Italy closely, as I think they will have a bloody revolution precipitated by banking problems. Italy should be the powder-keg that spreads social unrest through Europe, and probably war too. It’s my educated hunch.
In a world of fake news, fake govt statistics, fake boobs, fake genitals (transgenders), etc. … it should come as no surprise that the Greenback is also fake, and possibly more treacherous to our existence.
This sudden realization should make Charlottesville and North Korea look all so tame and trivial by comparison. This fall is not looking good especially for Americans.
You’ve got it John … stick with “sound” money … toss a silver dollar on the table and hear it “ring” … toss a bit coin in a computer on the table and all you will hear is a “thud” … it is a very simple test for “sound money” … come on people … toss a silver coin on the table and hear that old “Bell of Liberty” and Freedom “ring” … why put a bit coin chain around your neck and give up title to all your wealth to some international banksters? … don’t let them lure you into their Satanist trap with promises of great wealth the way Satan tried to offer Christ in the garden the whole world … resist the temptation of greed put before you by the promoters of bit coin … they are knowing or unknowing shills for incredible evil … an evil so great … it wants to take title and possession of All The Real Assets in the Entire World and leave you as paupers and slaves in a country founded upon the Principles of Freedom … be strong like Jesus was to temptation … don’t let them take away the absolute right to your own soul!!
It’s a public hanging folks … the international banksters (BIS) are putting a chain around our block heads with their SDR crypto … and unlike “the ring” of a silver coin of freedom … the “thud” they hear as they hang us high … is music to their ears!!
gregd, It appears the IRS is then planning to tax your emotion and imagination?
https://www.thestreet.com/story/14257905/1/bitcoin-investors-must-report-gains-to-the-irs.html?puc=yahoo&cm_ven=YAHOO&yptr=yahoo
Looks like it’s best as a buy and hold or a heck of a lot of bookkeeping ! lol
Why Bitcoin Investors Must Report Gains to the IRS
by Tanzeel Akhtar
TheStreet.comAugust 13, 2017
As crypto currency comes to the forefront with more investors jumping aboard, it is important to be aware of the tax issues and how to report gains accurately to the Internal Revenue Service. No excuses!
According to Node40, a block chain tech company, only 800 Americans reported their Bitcoin gains from 2013 through 2015. It is important to abide by the law as you enjoy your winnings.
Let us remind you of the ongoing IRS lawsuit against Coinbase; with heightened probes into cryptocurrency tax evasion, it has never been more timely for cryptocurrency users to declare profits.
From a legal perspective, you must be aware of relevant issues and regulations and of the technology out there to assist bitcoin investors.
Robert Graham partner and head of the digital currency services practice at Friedman LLP, believes in educating investors in important legal pointers and definitions to make sure that, if they’ve made gains, they have no uncertainties.
First of all, be aware of the regulations. Graham explains that the IRS offered guidance on how to apply existing tax principles to transactions using virtual currency in Notice 2014-21
The basic premise under the IRS guidance is that virtual currencies are treated as property, and not as a currency, for federal tax purposes. As a result, general tax principles applicable to property transactions apply to virtual currency transactions.
Graham adds that one of the initial questions the IRS fielded was “what is the definition of a virtual currency?” The IRS defines a virtual currency as “a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value”.
Many of the mainstream cryptocurrencies such as bitcoin are considered virtual currencies under the IRS guidance. “Keep in mind that new digital currencies and tokens are being created every day,” Graham adds. “Per coinmarketcap.com, there were 1,025 cryptocurrencies listed as of Thursday. Individuals looking to invest in or use these cryptocurrencies should ensure that they evaluate the currencies for security, valuation, and tax implications amongst other considerations prior to investing.”
Andrew Howlett, counsel at law firm Miller & Chevalier who practices in the area of federal income tax with an emphasis on tax planning and tax-related transactional matters, also notes that failure to report and pay tax on gains realized from bitcoin transactions could result in civil penalties or even criminal liability.
“Taxpayers will need to know the exact price at which they purchased and sold a given bitcoin or fraction thereof, and specifically identify which bitcoin was used for each transaction,” Howlett says. “For taxpayers with multiple bitcoin transactions per year, these calculations and identifications may be quite complex. Even with assiduous record-keeping taxpayers using bitcoin are likely to run into a number of unresolved questions about the taxation of these transactions.”
The mentality of government – that every gain someone makes: a portion of that belongs to US – only brings humanity into servitud to government. At some point – barter and private activity must be illegalized. It is ironic that “limited government” WAS America’s purposed design. The tail wags the dog now.
We all know the characteristics that make gold ideal as money. Such things as its limits of production, malleable, doesn’t rust, mold or burn like paper, is not a debt instrument, is private and therefore perfect for free (non-criminal) individuals. And it is insurance as Gold is “money” when fiat money fails. (Ideally, you hope you will never have to collect on it, but unlike car, health, or home owners insurance, it’s the only insurance where you KEEP the premium!) Gold doesn’t earn interest, but NO money does. Put cash in your safety deposit box, like you do your gold for 20 years. And 20 years later you will have the same exact amount of cash only it absolutely will be worth LESS as the FED is commuted to a yearly inflation rate. This means a yearly depreciation rate in your cash.
On last point that I never hear emphasized. Why gold has intrinsic value and therefore can be considered as a “store” of value. The reasons sited above are NOT enough to create “intrinsic” value. If gold had no usefulness for humans it would not be of value to us.
Of all the myriad needs that human beings have…which are constants, the need to feel good about themselves is one of them. Don’t underestimate the place that vanity plays in one’s life or in human history. To adorn oneself with beautiful clothing, suits, shoes, hair styles, make up, hair color, and yes, JEWELRY! ( Not to mention a never ending list of other items.) I remember a number of years ago that black hair dye was a leading imported item into India. What professional doesn’t value and utilize all of these items?
Try buying a $1,000 piece of costume jewelry for its beauty and expect it to be worth $1,000 in 15 years, when you may need the money. You will find it will depreciate faster than a new car purchased today..in 15 years.
Gold is an item that has endured and has stood the test of thousands of years in satisfying mankind’s vanity and love of beauty. Like it or not, these are CONSTANTS of human nature. And unlike other items of beauty and for vanity, it endures…generationally and millennially. That’s why it’s a store of value. It doesn’t have to be stored AS these items. It’s that it can be turned into value that one can store it as ” a store of value.”
Thank you Greg for your fine work.
I do not understand why Egon said that this fall could be the worst time in the last ten years. Janet Yellen just promised me that there will never be another crisis and from now on I will live in a land of milk and honey where the giant sun of New World Order will never set.
Egon concedes that some of the technology in the crypto space will outlast the ‘tulip mania’ of useless coins that offer nothing of real value. I agree. Most of these ridiculous ‘coins’ will disappear, however, smart contracts and other advanced technologies will form the backbone of the new economy. Nobody knows how this will pan out so we hold basic necessities for survival, silver and cash for transactions and gold for long term wealth preservation. But remember, life will go on and a new economy is being born from the old dying one and with that comes fantastic opportunity.
As far as blockchain and smart contracts are concerned, Ethereum is dominant however platforms that offer more versatility in terms of programming languages such as NEO are putting the pressure on. In terms of the future functionality and user interface of the new economy, a platform like IOTA appears to be positioning itself as the next Microsoft or Apple only possibly bigger.
Hmmm… Microsoft launches COCO…for ethereum
http://www.zdnet.com/article/microsoft-debuts-coco-framework-to-improve-blockchain-performance-privacy/
The conversion to the new global exchange system is almost complete. Now over 1900 banks are online globally. https://www.swift.com/news-events/press-releases/rmb-internationalisation_can-the-belt-and-road-revitalise-the-rmb_
So what’s missing? The hyper drive that gold will provide when the switch is flipped. So far gold price suppression has been seen by most pundits as a ploy by the central banks to prop up the dollar, when in reality it’s being used as leverage so the banks can load up on cheap gold in preparation for the reset. Why in world would you pay top dollar for something you already control? And what happens next? You guessed it. Once the vaults are full, and the internal banking transitions are complete (October) stand back.
Still think I’m making this up? Here you have an announcement from the Bank of China announcing a shutdown to install a new exchange system globally.
http://www.boc.cn/en/bocinfo/bi2/201708/t20170811_9984743.html
Hey but what the heck. Its probably just a coincidence .
Jerry,
Concession from the Deep State is what’s missing. I don’t think the Federal Reserve squids are ready to pass over the magic wand back to the BIS/IMF just yet.
If China decided to move forward regardless, nuclear bombs from N. Korea will likely rain down on China one way or another.
http://www.zerohedge.com/news/2017-08-14/nyt-shocking-report-us-ally-ukraine-source-north-korean-missile-engines
We armed the mujahideen in Afghanistan with Soviet made weapons against the Soviet Union. I suspect Trump doesn’t know he’s being used by the Deep State.
Just in a case you missed it, the IMF downgraded the United States economic position in the world a few weeks ago to number #2. https://www.bloomberg.com/news/articles/2017-07-24/america-first-no-more-as-imf-sees-u-s-fading-as-growth-engine
How long do you think China will allow the United States to continue its reserve currency status with this news? The IMF board of governors meeting to decide currency weights is in October.
GREG: Have to agree with Egon. Got a call from my son recently who said, Dad I don’t know whats going on, but I got an uneasy feeling about our nation, seems like things aren’t right. I believe the sleeping giant is beginning to wake up.
https://www.marketslant.com/article/war-racket
I like listening to Egon. He’s a smart guy. He can look so glum and then he smiles and looks like a happy Hobbit. And that golden Matterhorn behind him reminds me of the Lonely Mountain full of treasure and Smaug.
Thanks for the interview.
I think many people do see the problems on the horizon, but instead of investing in gold and sliver, which has been used for 5000+ years, they are putting their savings into cutting edge crypto-currencies (e.g,. see ramp up in Bitcoin cap). I for one have not taken the plunge into cryptos. I work in Tech and don’t trust them yet!
Psalm 2
2 1-6 Why the big noise, nations?
Why the mean plots, peoples?
Earth-leaders push for position,
Demagogues and delegates meet for summit talks,
The God-deniers, the Messiah-defiers:
“Let’s get free of God!
Cast loose from Messiah!”
Heaven-throned God breaks out laughing.
At first he’s amused at their presumption;
Then he gets good and angry.
Furiously, he shuts them up:
“Don’t you know there’s a King in Zion? A coronation banquet
Is spread for him on the holy summit.”
7-9 Let me tell you what God said next.
He said, “You’re my son,
And today is your birthday.
What do you want? Name it:
Nations as a present? continents as a prize?
You can command them all to dance for you,
Or throw them out with tomorrow’s trash.”
10-12 So, rebel-kings, use your heads;
Upstart-judges, learn your lesson:
Worship God in adoring embrace,
Celebrate in trembling awe. Kiss Messiah!
Your very lives are in danger, you know;
His anger is about to explode,
But if you make a run for God—you won’t regret it!
MSG Version
The times were living in today, were written and looked forward too. Long ago, by a few Hebrew prophets and by the hand of their God, Jehovah/Yahweh.
https://www.youtube.com/watch?v=kW5WyJ1QNpM
Almighty God worked through Abraham and Moses and even Ruth to eventually bring us Jesus Christ the Messiah, the King of kings!
Greg,
I could not log in for a day as there was some technical issue with being directed to your server – I nearly had a panic attack lol.
John,
Thank you it’s back. Thank you.
Greg
Greg,
I am still having problems reaching your site, have to go back to older pages to access. DNS denial problem still, at least when I go through Explorer or Aol. Maybe you can check again. Thanks for all that you do.
Tony,
The site is now what is called http(s). The “s” is secure. go in this way and save it and replace your old favorite : https://usawatchdog.com/ Thank you for your support.
Greg
Thanks. I thought I may have made it on a list or two!
We will see if there is inflation or deflation this will tell you witch way gold and silver will go up or down ?