Gold Price Will Explode When System Breaks – Gordon Long
By Greg Hunter’s USAWatchdog.com
Private investor Gordon Long contends the price of gold will shock the world when it revalues to reflect the massive amount of currency that has been printed globally. Long explains, “That is correct, and it won’t be something that is gradual, it will be very abrupt. The system will break . . . and the financial markets will freeze up. When they come out of the other end of that freeze, and it may be a number of weeks because the next crisis will be global and much more complex than 2008. We could control that with the Federal Reserve . . . and this one you cannot do because you cannot get agreement with all those countries. Never mind understanding the complexity. So, when we come out on the other side . . . there will be a massive revaluation in the U.S. dollar. . . . Gold could jump to $5,000 or $10,000 an ounce or something like that. . . . It will be massive. They will have to put some stability in the monetary system, and the only way they can do it is having something they cannot print. This is what has gotten us into this problem. We have to get back to sound money. It will have to be gold. What percentage of backing will determine what the value the gold will be.”
On the value of the U.S. dollar, Long contends, “Personally, I think the revaluation of the U.S. dollar will be well over 70% devaluation. It doesn’t mean the world is coming to an end. It just means you have to go through this to reset. Those who prepare and understand why this is happening and watch for the signals, there’s going to be fortunes transferred. They are being transferred right now, frankly. One other big caveat on gold prices going way up, expect the government to tax it like you have never seen before.”
Long says the stock market hitting one all-time high after another, despite all the economic headwinds, shows the public is in a “delusional phase.” The latest nuclear war threat from North Korea shows the extreme delusion going on, and Long contends, “This is about as clear of an example as you are going to get. This is more serious than the Cuban Missile Crisis, and the fact the market has not even blinked during this tells you we no longer know how to price risk. It’s not being priced correctly. . . . It’s almost pure speculation at this point, and maybe straight out gambling.”
When is it all going to come crashing down? Long predicts, “I think there is a scare coming this fall. That scare will allow central banks to start more quantitative easing and other programs. They will be guaranteeing the markets and guaranteeing assets because they can’t have this pension system collapse, and it’s all in the stock market. I think we are talking about the spring of next year.” (When it all totally implodes.)
Join Greg Hunter as he goes One-on-One with investor Gordon Long, founder of MATASII.com.
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After the Interview:
Gordon Long also points out, “27 times the stock market has hit all-time new highs, and yet, fundamentals have never been worse. If there is a 5% to 8% decline in the stock market it’s over. They can’t have more of a decline than that because of the extreme degree of debt leverage.
There is free information, articles and analysis on MATASII.com. Long has another website called GordonTLong.com as well, and it’s also free.
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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.
If the government is going to “tax gold like you have never seen before,” what’s the point of owning any? They’ll just confiscate your gains.
Wouldn’t farmland or food you can store, be better?
Scott,
I think every Senator in Congress is a owner of physical metal. They may not want to tax gold but make it money to get the economy going. You have no idea what is going to happen but I think you are better off with metal than without it. You need some of everything to be truly diversified. By the way, the taxes may not be as bad as you think, and paying taxes is far better than writing off losses.
Greg
An excellent, thought-provoking answer. As always, you give me much to think about and consider. Thanks, Greg!
(And a great interview, btw…)
Thank you Scott!
Greg
Good Job Greg!
Gordon is RIGHT. I have 8 years of education in Economics Globally and Domestically. He is Correct in my best estimation. I couple my education with 31 years on the street as a cop. It’s a monster..
Roger,
I appreciate your service and your comment.
Greg
RE: ‘If the government is going to “tax gold like you have never seen before,” what’s the point of owning any? They’ll just confiscate your gains.’
Ah-hem, I have heard that certain God given substances a.k.a. ‘drugs’ are illegal and banned by our our mighty overlords, too. Certainly, those elements are nowhere to be found, and absolutely no one profits from them,.. not anywhere. Especially not politically connected figures.
As we all know, the most secure place in the world, one where the might of our overlords is most mighty, is in the crucificaton system we call, prisons. Obviously, there’s total control in that environment, as there must be in the Panopticon we live in. So, of course, ‘They’ll just confiscate your gains’.
Such is reminiscent of those dastardly outlaw colonial-American smugglers, pre-1776. They should have obeyed and submitted to the empire, like good serfs.
So does Ben Bernanke
Greg,
This Hairy Guy agrees as long as these critters in Congress don’t do the “holding tax” of 90+% which I understand JFK did, back in his day.
Scott They are most likely going to tax that farmland as well They will most likely tax the air we breath at some point
Frederick … Al Gore wanted to tax the air we breathe “out” (CO2) … other crooks would have imposed a separate tax on the air we breathe “in” (O2)
Speaking of crooks … looks like a few men “with balls” are actually going after these (Hillary, Comey and Lynch) … by appointing a second special prosecutor!!
They already are here in canada, its called a carbon tax….
Scott, nobody knows what will happen. Farmland and food could just as easily be confiscated or stolen. If people starve they will go and raid the nearest farm, shop or even house. A lot of people talk as if owning gold and other assets are mutually exclusive. You can hold some gold as well as other assets. People need to stop searching for a risk free asset as none exist. You can only diversify your risk exposure.
This sceptred isle & Frederick,
You are correct. Nothing can protect you from a tyrannical government. If someone like Obama or Hillary were in charge when the SHTF, gold is probably the best asset to own. It’s the only asset you can take with you crossing the border – most likely under moonlight.
“They will most likely tax the air we breath at some point”
It’s called the carbon tax.
When Roosevelt confiscated gold last time around, a lot of people just refused to comply. Even more will this time. At least you can hide gold. Real estate has the downside of being unhidable, so when the government raises real estate taxes, you’re hosed if you can’t defend yourself against them.
Tod,
We are all thinking along the same line. Gold will go into hiding, or escape to another country where it can shine under the sun.
And in to the black market trade.
SCOTT: Only if they know you have it. I bought all my pm’s with cash, and keep it under the ole mattress
Bill, what’s your address?
The goals of the elitist bankers are not just in making money. Their main goal is to control the whole world and create a One World Order. In order to do this, they have to collapse the U.S. economy and create all kinds of chaos here in America. They want to totally dismantle this whole country and own it. They also want to reduce the population so that they can control the rest of the population easier. They can do some of this by controlling the food. It’s very important for people to have home gardens. I believe the economy will fail on a 3 day holiday weekend, and cash will only be good for about 10 months to a year after that. Then it will become worthless. Food and household supplies will be the most important thing, but being in a safe place is also going to be very important. I believe there will be communities in America that function based on a gold/silver currency in the aftermath. But, when it comes right down to it, we will only survive if we turn to God and ask for His help.
As Mr. Long says: the rise in Gold will shock the world … just as Buffet’s prediction may have shocked people when he stated the Dow will be at 1,000,000 in 100 years … what do Buffet and Long have in common … they see inflation (or another way of looking at it massive devaluation of the dollar) … actually Buffet’s prediction was “very bearish” … for if we assume a 3% growth rate for the economy (where 2% is due to inflation) it looks like we will be in for a 100 year depression … as the dollar (worth 3 cents now) will only be worth 0.001 cent one hundred years from now … that means the Dow “on an inflation adjusted basis” will be at 1200 in one hundred years! … David McAlvany has a very good grasp of the current economic situation and makes a good listen … https://www.youtube.com/watch?v=Xyd4xkLoeyY …
PS: Greg … perhaps you can get David McAlvany as a guest on USAWatchdog!!
Everyone remember not to vote for any Constitutional Amendments … because the banksters will put in a clause that will free them from paying back all the money they stole from us … right now with our current Constitution we can “claw back” the $20 Trillion National Debt and all the other Trillions they have stolen from the American people!!
100 years? Nah. Just take a look at Venezuela.
52wk range: 12,621.93 – 473,007.50 (9/27/2017 1pm Az time)
https://www.bloomberg.com/quote/IBVC:IND
Paul – I have listen to him for years – One sharp guy
And Very interesting on the play between palladium and platinum … they are on parity. My take is that something has been found per palladium making it’s industrial use worth a whole lot more!
freebrezer,
I have been wondering what’s going on with palladium as well. The price of platinum is indicative that gold is not an ordinary metal unless something has also been found regarding its industrial use.
Paul,I agree Dae McAlvany rocks.
Trump being the businessman he is, knows that the Treasury still values gold around $42 an ounce…….he may very well re-value Gold to say $1300 giving the Treasury a windfall of around $500 billion on the apparent 8000 tons held in Fort Knox.
That’s $500 billion the government has without lifting the debt ceiling.
FC,
If that’s the case, why not revalue it to $2600 an ounce and have a $1 trn windfall? Mind, even at that level, it’s still representing only 5% of the $20 trn government (sic) debt.
DavidC
CRASH!
The majority opinion among prognosticators, economists and analysts, is fairly well what Mr. long has spelled out :
A world wide economic crash. Financial market freeze up. Credit movement halted. Major currencies devalued overnight. Gold and silver at thousands of multiples.
Sorry to break your bubble, it ain’t gonna happen.
What is and has been occurring is a slow dribble down of economic activity, with inflation of asset prices as can be seen with real estate. These high price levels are now starting their own slow dribble lower. As will the world equity markets, with much gnashing of teeth and see-sawing on their slow downward trend.
One only has to look at what has happened in Japan over these past 25 years , to see where the west is going and how it’s going to get there. The central banks will make damned sure of that! The only fly in the ointment are those two elementary age school children yelling insults at each other, as they stand toe-to-toe in the school yard. The world waiting to see who will inevitably throw the first punch. Doesn’t matter which one, the result will be the same. Mushroom clouds billowing up, over major population centers. Then ALL bets are off.
Who knows? Maybe you are right but Japan’s deflation happened largely in the context of an otherwise functioning global economy.
500 Billion is Chump Change In A World With 20 TRILLION debts
Hi Greg,
Gordon Long – what a brilliant guest. In this crazy world, where the MSM (the Ministry of Truth) strive endlessly to convince people that black is white and white is black, Gordon provides sober, well-reasoned analyses. Thanks!
Great interview Greg, thanks so much.
Hang in there metal heads!
I am really at a disadvantage from the rest of you all, I don’t often get to view the videos. I must say, I really appreciate the summary Greg Hunter provides, and the excellent input from The People in the comment section, it has all been real ‘food for thought’ in spite of the fact that I’m surrounded by the willfully ignorant, clueless, heartless, greedy, unread, distracted …
Anyway, I do hope that I’ve returned the value a bit.
That said, I wonder what you all make of Paul Craig Robert’s latest, ‘Washington Has Initiated Military Conflict With Russia’ – September 27, 2017. Spooky stuff, that can’t be dismissed by saying, ‘it’s from RT’. [Unless, we’re being played, and both sides (West and East) are in cahoots. It’s possible, I suppose.]
When Gordon Long says, ‘The system will break’, I’m reminded of the bits I’ve read about the collapse of the Soviet Union and how common people there at that time said that gold bought their way out of dire straits, and again, how Ferfal described things in Argentina not so long ago with respect to the value of a single link on a chain of gold necklace. I imagine food and water stores are working harder than gold at the moment in Puerto Rico, however; we all know that gold isn’t a ‘be all, to end all’ ,’cover everything’ substance. Eh? I imagine gold has not lost value in P.R.. I wonder about the reality.
I write all that while thinking how technological gains in the past have shifted in an instant and caused the borders of empires to shift and… well, what’s it matter what I think, I’m just a nobody in flyover-land who reads and thinks too much while at the bottom of a stack of Yurtle’s many turtles, awaiting the return of the true Mighty One, while striving to be as good as i can. My two Cents, for what it’s worth to you. Good night.
Paul C. Roberts thinks exactly like George Soros does. I see them as two birds of a feather.
I don’t get it helot … Why has Trump joined Israel to initiated military conflict with Russia? … was he “just pretending all along” to be against the Christian head-chopping ISIS terrorists?? … we voted Trump into office to destroy ISIS … and now he is doing exactly what Hillary and the McCain warmongering neocons wanted all along??? … how could Trump be so duplicitous and go over to the Dark Side (supporting Christian head -chopping ISIS terrorists make human sacrifices to their God Molok)???? … http://www.paulcraigroberts.org/2017/09/25/washington-initiated-military-conflict-russia/
Paul Craig Roberts by exposing “the secret killing” of a Russian General and two Colonels is using a good strategy … the warmongering neocons wanted this “targeted killing” to be kept as quiet as possible in the US media … so that when the Russians “retaliate” … the warmongering neocons could claim on National TV “the Russians attacked American forces for no good reason” … and the psychopathic neocons could then declare war (encouraged by the equally psychopathic shareholders of financial institutions and military supply industries who have only greed on their minds) … these evil people have no qualms over the mass killing of millions of civilians in a nuclear war … their only concern is … greedily garnering more and more worthless fiat paper dollars … may God damn their evil souls!!
Interesting … after the targeted killing of a Russian General by US forces … Mattis comes under rocket attack in Afghanistan … as Jesus taught … we Americans should not do unto others what you don’t want others do unto you!!
Thanks Greg. Great interview with Gordon. People should support your work and Gordon’s as well. Diversification away from financial centers which includes big cities as a hedge against social chaos. Thanks.
Pardon, one last thought for this evening, which I can’t shake… I was wondering (and, with respect for the effort) to Jerry, and those who follow what he writes, how do you respond to this:
‘The Demise of the Dollar: Don’t Hold Your Breath’ – Charles Hugh Smith, September 22, 2017 oftwominds
Myself, I used to know, or, thought I did [quite like, long long ago, when I was 19 yrs. old] then, I read that bit from Mark Twain, “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”
I mean, in 2007 I thought – for sure – no American, paying attention, would Ever stand still, let alone, cher for, ‘The Fed’ buying up all those MBS awhile back in order to try and act like they can stop a correction in the markets.
Some important guy in the 1980’s, said on the TeeVee, just that, he said the mere suggestion of doing so would be like embracing an absurd thing which I shall not describe that is now accepted as A-ok and normal. Gnoe-what-I-Mean? It was like he thought ‘Americans’ wouldn’t stand for such a thing. It was contrary to their very ideals. And, yet, here we are.
I guess I’m having a hard time accepting that the values which I was taught – the ones which determined if you were an American in favor of freedom and liberty – are now out-of-date and old fashioned and have been replaced by a love of Socialism/NWO tripe which all thinking people recognize historically leads to destruction of the worst kind.
I think, maybe, PCR wrote an article or two about that.
But, I digress.
As much as I think globalism in the form of multi-national companies is parasitic and the drive towards a centralised global control mechanism is an impediment for human liberty the age of empire was just as destructive and malevolent. Were native Americans of black slaves ‘free’ in ‘the land of the free’ ?
helot,
I read that article and disagree with Charles Huge Smith.
“A reserve currency cannot be pegged; it must float freely on the global FX exchange. China’s currency, the RMB, is informally pegged to the USD; it doesn’t float freely according to supply and demand on global FX markets.”
– When China crushes the COMEX’s stranglehold on the prices of gold, the RMB or yuan (perhaps all currencies strong and stable enough) will be pegged to physical gold via the SGX or oil/yuan convertible to gold scheme. All currencies and gold will float in the FX market but only the strong and stable currencies would be able to manage/maintain the peg.
“Nobody wants to hold a currency that can be devalued overnight by some central authority. The only security in the realm of currencies is the transparent FX market, which is large enough that it’s difficult to manipulate for long.”
– ProShares dollar index swung from $26 on June 04, 2010 to $21 on Aug. 26, 2011. A 20% movement in 10 months is not stable at all for a reserve currency. A similar swing upward from $21.3 in June 27, 2014 to $26.5 in March 15, 2015 is just as bad or worse, a 23% movement in 9 months!!!!
Is the FX market really transparent?
Did the dollar really move up 23% in 9 months just because Yellen said she would raise rates?
Why do I keep hearing that the dollar is back by the U.S. military? If the dollar were back or secured by our military, what role does the military has in a transparent FX market?
“When China crushes the COMEX’s stranglehold on the prices of gold, the RMB or yuan (perhaps all currencies strong and stable enough) will be pegged to physical gold”
-Tin Foil Hat
At least your name is honest.
Occasnltrvlr,
Well, I thank you for the compliment. However, I bet if you think about the gold peg a little more, it makes a lot more sense than SDR.
The only reason, I believe SDR is the more likely alternative, is that a direct gold peg is not advantageous to the west – wars.
We could be under a FREEGOLD standard if Nixon allowed gold and the dollar to float instead of given up on the defense of the fixed gold price at $35 in 1971.
Ford tried FreeGold by opening up gold for public consumption in 1974. Carter got nervous when gold prices revealed the weakness of the dollar ( the last Iranian Shah refused to support the dollar), Volcker commenced gold suppression soon after.
I hate to say this but the financial Ponzi started under Reagan/Greenspan. Volcker did it honestly by raising interest rate to over 20%.
Regarding Jerry’s predictions, it all depends on whether China would grow a set of balls. If China stopped beating around the bush and drained COMEX dry on Oct. 18, then Jerry will be on MSNBC by Oct. 19.
However, if the CIA caught wind of that, Paul Craig Robert’s latest would be “Washington Has Initiated Military Conflict with China”.
There is only one team, and it is effecting a transition.
http://www.bis.org/about/board.htm
The only question, the ONLY question, is whether or not they can, or will, keep the entire ship afloat.
Jerry MAY end up on MSNBC. Frankly, I think he deserves it.
There are two teams, perhaps three if you count China. BIS/IMF is the Trump’s team, the mainstream media and establishments in the swamp are the minions of the Federal Reserve or Anglo American Dollar team and the China team is watching, waiting and preparing.
I think the E.U. team is lost and confused.
http://roacheforque.blogspot.com/2017/08/the-championship.html
Guess this is why Jim Rickards sees a move to an SDR first … http://charleshughsmith.blogspot.com/2017/09/the-demise-of-dollar-dont-hold-your.html
helot
My response…. Mr. Smith is a very bright guy, but I disagree with his viewpoint on this subject.
From his bio
In my experience, good luck is rare; the default setting is rejection, disinterest and failure. I concur with Winston Churchill, who held that “Success consists of going from failure to failure without loss of enthusiasm.” That more or less sums up my biography.
http://www.oftwominds.com/bio4-14.html
Thanks Greg. Another really good interview. I have a lot of time for Gordon’s thinking/analysis. Took a while to get him on again but well worth it IMO. Interesting he also picked up on Fischer’s going as an indicator… Potentially anytime after Fri 13th October then – not far away. Unlike other years where we have anticipated the collapse and it hasn’t eventuated because of some other backhanded manipulation I think we genuinely are in the danger zone this time. Quite a lot of progress has been made in a low key way to side line the dollar. It just hasn’t officially been declared yet. Time for people to finalise their prep plans….
Actually, Neil, it will most likely be just like other years. Lets talk Jan 1, 2018.
Gordon Long takes the complex, and makes it simple. Not one wasted breath during the entire interview. Doesn’t get any better than that! Thank you!
Dear Greg,
Could you please realise that your audience is pretty intelligent and can handle the ideas of Gordon Long without your constant interruptions to emphasise a point that he was clearly making.
You used to be good at this but lately you seem to want to impose yourself on the interview. I know some people need guiding but Gordon Long was not one of them.
Look at this as not so much a criticism but an improvable point.
Gold is going to explode???? Tha ks for the real news Greg….that gold angle has not been covered enough on here…very valuable news that will help peolple cope witb the coming collpase…Gold you say? Brilliant!!
Kevin,
Please comment again in the not so distant future.
Greg
Greg, if gold has this massive move up, what will happen to the share prices of gold mining companies that have so called, “gold in the ground”? Maybe you can start asking this question to your future guests?
John,
Your counter-party risk is a failing brokerage where your shares are stored.
Greg
John
I agree with Greg, but their our methods one can employ to mitigate said risk.
Back to your question….
if gold has this massive move up, what will happen to the share prices of gold mining companies that have so called, “gold in the ground”?
In general, gold mining company share prices will go up, but not necessarily all of them. It depends on many different factors.
First and very important, any Gold in the Ground would need to be supported by a reputable independent 43-101 report for share prices to rise.
In general, Management claims of gold in the ground will not have any positive effect.
Another important factor, is the geographic justification of the Gold in the Ground. If the mining company is located in host countries that are business unfriendly, there will be very little positive effect, if any.
There are so many other factors ones needs to evaluate as well to determine to what extent Gold in the Ground will rise, such as Management experience – track record for delivering to shareholders, etc. and so much more.
Hope this helps.
Macray … The evil neocons want to put gold and God’s Christians in the ground … they think that by simply chopping off the heads of Christians and putting them in the ground along with deep storage gold … it will solve all their problems … these neocons obviously don’t believe in resurrection!
Greg,
You can take delivery of your shares in certificate form, to eliminate some of the counter-party risk of failing brokerages.
Yes Jo0hn but not easy to do these days. Have you tried this?
Greg
I’ve taken delivery years ago when “no fees” were involved … but as soon as a lot of people started doing it … the crooks at the brokerages started to add fees that were “so high” … it was not economical to do it anymore!!
John,
I would sell all gold miners before they get nationalized. When gold reaches $5,000/oz, that would be the time to sell.
Black Veteran tells the NFL the way it is! You will not be disappointed! Please watch, please distribute. Greg please publicize this however you can… Chip
https://www.youtube.com/watch?v=z634hlt8b9o
Shared.
Mark your calendars. My sources say that October 18th will be the date that the petrodollar officially dies .
https://www.reuters.com/article/us-china-congress/china-sets-mid-october-date-for-key-communist-party-congress-idUSKCN1BB163
This is a no brainer. Oil bought with currency backed by gold……or… Oil bought with currency backed by fraud and manipulation. What would you do? Oh….I know. The world will continue to use the petrodollar because they love us so much. Right? Keep drinking that Kool-aide folks. In a few weeks you may need it to go along with your food storage.
My sources have told me they plan to launch the gold backed Yuan benchmark on October 18th. I found that it matched up with the date of Chinese Communist party general assembly. It just makes sense they would finalize the plan with the general assembly before they would go public in the markets.
https://www.globalresearch.ca/gold-oil-and-de-dollarization-russia-and-chinas-extensive-gold-reserves-china-yuan-oil-market/5608942
Your ignorance is breathtaking. If you’re waiting for an article from the MSM to verify a start date, you’ll have a long wait. They’ll be the last to know, and they’ll only report fake news anyway. FYI I was told two years ago that I was full of crap when I said the Chinese would have reserve currency status in the IMF basket. How did that work out? Do you want to bet take a bet on this one? There reason for:
– CIPS
– AIIB
– Gold
– And now the gold backed Yuan petrodollar.
See the writing on the wall.
Once again I have to do the heavy lifting for the uninformed. Go to the Federal Reserve Bank Website and read it for yourself. Its under “payment”. They have installed same day ACH for the first time in history. It is a setup for bail ins. I never set a date. The 18th was the day they started the policy. FYI- If you can’t handle the strain of dealing with your friends and family that’s your problem, not mine. In the future please don’t read my post if you can’t handle it.
Fact: The Federal Reserve has had the same-day ACH option available for certain payments since 2010.
https://www.federalreserve.gov/newsevents/pressreleases/other20100621a.htm
The Federal Reserve since 2010 has expended the option to include almost all ACH transactions. This is being done in three phases. The first phase happened September 23, 2016. The second phase began on September 15, 2017 and the third phase is scheduled to start on March 16, 2018.
https://www.frbservices.org/resourcecenter/sameday_ach/index.html
Also when and if there are bail-ins that involve depositors, specifically uninsured depositors, the ACH network will not be needed to do bail-ins. The government will just convert the uninsured deposits into equity meaning that the depositor’s amount will just simply be wiped off the books and the depositor will be given shares of stock in return. This is how it was done in Cyprus and how it will be done according to the FDIC and the EU Bank Recovery and Resolution Directive (BRRD ).
JMILLER
Once again you’re posting something that is theory that hasn’t happened yet. Trust me, I know first hand how banks operate. If you really believe that dribble you posted you’re an even bigger fool than I thought you were.
Jerry,
What I posted above is true.
You state that the Federal Reserve has installed same day ACH for the first time in history on September 15th. That sure does not seem to be true. It began back in 2010. I even gave links to prove it. I read that currently about 1% of ACH transaction are already same day. Are you saying that the Fed never did any same day ACH payments until September 15, 2017?
Concerning bail-ins, the ACH network is not needed for them to do bail-ins. All they do is convert the deposits into equity. To recapitalize a bank, the government either writes down the debt and/or converts some of the bank liabilities to equity. It is not all theory. That is exactly what happened in Cyprus.
http://www.bankofcyprus.com/en-GB/News_Archive/Conversion/
And that is what the FDIC and the BRRD state that they would do to recapitalize a bank. Now whether or not that happens is still unknown.
Now if you believe that same day ACH is a setup for bail-ins please explain what you mean. Now may be you are using the term bail-in to refer to another kind of bail-in. Not a bank bail-in but a system bail-in.
You say I should trust you? Are you kidding? You read too much into some articles and connect dots that are not even there which is typical of people who tend to read too much fear porn.
Dude!
The problem in dealing with Sunshine Pumpers like y’all is that lots of people get hurt, and when the time comes to pay the piper you won’t be around. I know from first hand experience that its better to error on the side of caution than to walk blindly into an economic buzz saw. But what the Hell. Walk on in.
As I’ve said before, I have no way to verify the accuracy of my “sources”, but the dates they’re giving me are lining up with what I’m seeing. So much so, that I have pretty much ceased all business activities and am finalizing my preps. But hey, you guys do whatever you think is best. Freakin’ sorry ass Sunshine Pumpers!!!
Jerry, Take a DEEP BREATH !! and Fear NOT. I have been a reader for a few years and appreciate all that you have given. I think your work is not in vain and is well taken. No one knows the day or hour, but it sure is helpful to remain AWAKE !!
Thank you Darren. You are awake, and so am I. Stay tuned. If you’re observant to the “signs” you know where we are.
So are you going to sit there like a frog in a boiling pot of water or get out while you still can and by get out I mean leaving the USS Titanic before it goes down. It’s not just the currency that is headed south it is the entire country and when it goes you literally go with it.
Mike,
I would leave if I could, but I have family here that refuse to go. Plan B is to dig in and try and make a stand. I wish the best for your family.
Jerry,
” So much so, that I have pretty much ceased all business activities and am finalizing my preps.”
No matter the outcome on Oct. 18, you should take a nice vacation and get your mind off this matter just a little bit.
I understand that we need to prep and be cognizant but we don’t need to kick the bucket from the stress of prepping.
I guess prepping is almost like shooting. You prep the trigger but the shot should go off surprisingly.
Tin Foil Hat,
I can’t help it. I was raised by grand parents that made it through the great depression in Oklahoma. Its in my blood.
To whom it may concern,
I am honored that you think so much of my post to copy and paste them “again”. But please don’t add your own words to them. It robs the purity of the translation 🙂
Thank you.
Jerry.
Lol, just like all fear porn. The Dollar didn’t die today. Gold lower. DX steady. Stocks skyrocketing. 10-18-17. 4:25 EST.
Greg, I’m wondering if Stanley Fisher resigned because he has firm information now that Yellen will be re-appointed chair in Feb 2018?
Long’s views seems similar to Rickard’s. Big ice 9 freeze followed by gold reset.
Greg, Thank you. On September 13th you interviewed Rob Kirby, and other great interview on Bitcoin. I suggested you interview Gordon T Long on the financialization of America. I would like to think you did this as viewer request; regardless, thank you. His explanation of company buy back of stock was simplistic and right on target. Greg you are perfoming an outstanding service of educationing the public.
Thank you Randy.
Greg
Hello Greg. For me, you hit a home run with this interview. The clarity of Mr. Longs explanations of what is going on is what impressed me the most. He was explaining it for me, the common man, who is not up to date with all the current financial jargon and terms. Your interview style is great as you let the man talk but then will pull them back a bit in what I perceive as an attempt to further explain in non technical terms (for the benefit of your fans).
We have two malls in our town, neither of which are large. Both are failing. One mall, after Sears and Zellers closed two years ago, hardly any stores left open. Other mall, after Target closed last year and once Sears closes at the end of this month, I expect their client base to rapidly disappear as well.
Coaster,
Thank you for your street level reporting and for your kind words too.
Greg
Coaster, and Greg. Same here. MR. Long sure explained a lot for me to understand.
GREG: New subject
The kneeling during our National Anthem is just the beginning of division. Think about this Greg. Christmas is coming, and Santa Claus will be a white racist causing demonstrations and rioting in malls to destroy our Christmas. Watch for it.
Greg, thanks for bringing on Gordon Long. And he had nothing to sell, thanks again for that too.
Is the top in? Depends if the tax plan fails, IMO. I think it will.
The mellennials – the new small, uninformed investors – are now fueling this market. They haven’t experienced the last two big crashes. And they have, it seems, no faith or understanding in gold or silver. They live in the virtual world, not the real world. Crypto is gold to them, for now at least, IMO.
mike, they absolutely do not know about or understand the Great Depression and h0w it equivocates to the present time. In other words, they don’t have a clue. Too bad they don’t have parents or grandparents that can educate them.
mike,
I don’t think the small retail investors have much impact on the market any more. The market is controlled and mostly bought by central banks – Swiss National Bank, Japan Central Bank, NY Federal Reserve Trading Desk ……….
Mike – when you mentioned cryptos, it made me wonder how well they are working for the people of Porto Rico? With no wifi is a crypto really worth anything?
Great guest, Greg. As he says, it’s not a free market, so you cannot expect an appropriate “risk” evaluation for the markets. But the other side is that unlike the Cuban Missile Crisis, the elites know full well that the NOKO/US blustering is all dog and pony show; i.e. no real risk there. There could very well be war, on some limited basis if only to justify the continued surveillance state and incremental totalitarian control. Russia has made ISIS a nothing burger, but we..must..have..a..viable …enemy. It could be Russia, but most likely Iran.
At some point Greg, you and all who post on this great site have to recognize how Trump has let us down. Hillary should already be wearing orange. Lerner, Koskinen get a pass. You should be aware that since the IRS is not a USG entity and is actually owned in Trust for the English Crown, Trump has absolutely no power over it. Sessions, obviously, has been neutered. Assange can prove that the DNC and Podesta emails were leaked, not hacked, but any dialogue between the WH and Assange has been blocked. The Awan case will go nowhere and be buried even though DWS should be hung for treason. What about Huma and the deep Muslim Brotherhood ties; another case for treason.
Although I still have faith it is failing rapidly.
Will the most successful companies not always cannabilise the smaller ones, form monopolies and control governments? Surely capitalism will always mutate into something more sinister.
Hi Greg, I have to say the interview with Gordon Long was one of the best. The thing that struck me the most was the comments about ‘retail’, the debt burden it has and why ToysR us got into trouble. I know it wasn’t investment advice but I’m going to get out of my London retail investment fund, it’s the same problem. Thanks Greg
Thank you Nigel!!
Greg
Primarily what the deficit spending (now to an acknowledged $20 trillion) has funded over the years is social/welfare/entitlement spending. Even if we correct the money from “bad” to “good”, we cannot go on with deficits, especially with “good” money. At some point, our financial approach must change, and we must live within our means. When we get to the “other side”, we still just can’t pick up where we left off, unless we intend to dedicate most of our domestic output to social/welfare/entitlement spending. Sooner or later, that must end, and when it does, without a plan for the more than half of us now on the dole, there will be hell to pay. The economic crash which we all anticipate writes off the debt, yes, but it does not fix the problem that caused debt and deficits in the first place! Even with the reset, we are not out of the woods by any means. Best always. PM
Paul from Indiana,
Post reset is when the rubber meets the road. If we still have an ounce of Americans left in us, we will have a fighting chance.
PFI. I as you know I have refused Obama care, and now I will have to be 70 years old before I see SSI. I will likely be dead, and gone before 70… Unless the Word of God preserves me to that age. Well living free comes with a price.
Trumps tax plan leaked … good news for the common Joe (Trump will double the Standard Dedection) and good news for small business (max 25% rate) … http://www.zerohedge.com/news/2017-09-27/here-leaked-trump-tax-plan
Wall Street tanks as the scammers, crooks, manipulators, Ponzi specialists, pump and dumpers, etc. will have to pay more in taxes … http://www.zerohedge.com/news/2017-09-27/stocks-sink-after-trump-tax-plan-leak-heres-what-wall-street-thinks
“Good news for the common Joe” – what a laugh.
First off, you can’t fix something that is irreparable and that includes your health care and tax systems (along with pretty much everything else in the US) It’s the equivalent to putting a new coat of paint on a house with a cracked foundation and infested with termites and thinking you fixed the problem.
But hey, you people keep electing and reelecting the same incompetent crooks that have been fleecing you for years and expect something positive to happen. This time it’s going to be no different except your running out of road and are about to hit the proverbial wall. If you’ve got 6 months left I’d be surprised. Whatever time you have left enjoy it because any good times you have had are about to come to an end.
Mike … it is a laugh … but hey … when a crook doesn’t take all your money you have to be “somewhat” grateful for such a blessing! … if you can live totally off the grid you would have zero taxes to pay … but you need “smart parents” … your mother must give birth at home so no birth certificate is ever issued … and your parents must never apply for a Social Security number for you … they must home school you and when you eventually apply for a job (or start your own cash business) it has to be off the books … the government knows this … so they are moving to make this “a cashless society” and they crack down hard on parents that home school their children … the government wants to “chip” every citizen so as to have total and complete control over every living being … however … your parents could outsmart the controllers by moving to some other landmass to retain your freedom!!
Looking at the US dollar chart … we could see a dollar rally back to about 96 which will push gold down to about $1225 -$1250 … then the US dollar should reverse and continue its fall into the 80’s … and gold will rally to above $1400 … those not interested in these minor fluctuations … should just continue to buy gold on a regular basis … and dollar cost average … https://www.clivemaund.com/article.php?id=4306
Another one predicting the price of gold going through the roof. We have been hearing this for so long, its getting old. Nobody knows when this thing is going to blow up. But, I bet its years from now, not this fall or spring. They still have control of the markets and the pm sector. Gold finally broke through 1300 and we had people saying things are changing because of it, well, gold is back below 1300 again. So now what?? The elite and the deep state are in control, period! And it appears Trump has joined them.
Mr Hunter,
Would you please unblock your videos so I may view them? I promise to never make any comments about anything I view but I do enjoy your guests.
Thank you
Wade,
You can watch them on USAW any time. They are embedded here.
Greg
PURE GUESSWORK
I sure wish I had one dollar for ever single prediction that says: ” Next Year”. Dime a dozen because even if you have the long term trend correct, nobody can time markets and nobody has a crystal ball. So, its not necessarily a given it will work-out that way. Gordon is offering listeners a Opinion or Educated Guess. That’s about all it is.
H. B – No one can predict the future – agree … but it sure is easy to read up and understand the past. The world is in debt up to their noses and all the central banks say ‘let’s extend the debt to their eyeballs’ … everything will be just FINE! All biological exponential curves crash … it is just a matter of how high can they go?
Mr. Hunter:
Another very lucid and informative interview, thanks.
Greg,
‘Maybe a patch; but they can’t fix the rip’ – well that’s a good diagnosis. A well explained and illustrated state of affairs. Makes me feel like George Bailey, with the money missing.
Greg,
We have been hearing about what the price of gold is going to due for years from many. Jim Sinclair has been preaching what gold could do for years. He even put a GOTS (get out of the system) piece together and recently told everyone to get their bug out bags ready because we are very close. Now he has Holter on his site saying the same things. Its not that I do not believe what they are saying is wrong, its the fact that they say we are close. Of course, I think what is being missed is these super computer that can put money anywhere that it is needed to either support the markets or holding prices down. Look at gold, we where told once it broke 1300 the new bull market has begun and things have changed, well we are now at 1280 and dropping. I do not think anything has changed and we are months away from changes. I for one do not believe in Jerry’s continual postings of what China is going to do, along with the YUAN backed by gold. Its just another batch of BS regardless of website postings. October and the rest of the year will be no different than things are right now. The markets keep going up and gold down. One more thing if people still believed in Sinclair and his posts his stock would not be trading at 0.35 cents as of today. Sad time to be a gold bug.
Hope you are correct Hugh but it is never a “sad” day to own real money. If you are wrong please come back.
Greg
It SEEMS like gold is going down compared to the stockmarket.
“close” is a subjective term.
Hugh,
I read that IMF member countries are not allowed to back their currencies with gold. If that is true, and I say if, then I doubt that China will officially have a gold backed Yuan on October 18th, as Jerry seems to be saying, because I doubt that China is ready to leave the IMF just yet. JMO
Hugh,
“I for one do not believe in Jerry’s continual postings of what China is going to do, along with the YUAN backed by gold. Its just another batch of BS regardless of website postings.”
It’s not just another batch of BS. I suspect China is prepping the trigger, when the shot does go off, they want it to be a surprise.
P.S. The Chinese don’t want to be responsible for causing the reset. If it comes as a surprise, they are not responsible.
Hugh …….. “I do not think anything has changed and we are months away from changes. October and the rest of the year will be no different than things are right now. The markets keep going up and gold down”.
And from your other post …….. “Nobody knows when this thing is going to blow up. But, I bet its years from now, not this fall or spring”.
Maybe you are correct.
Given your comments and beliefs, are you putting you investment funds currently in Dow, Nasdeq and S & P equities?
When markets go up, it gets so crazy no one can not believe it. When they crash, it becomes so terrible that people say, “I never would have believed it would ever has gotten this bad”. That’s how it felt in the R.E. business between 1989 and 1999. The big crash came in 1090. By 1993, R.E. people would say, “Stay alive till 95”; 1995 came and it was worse that 1993 and was even more terrible by 1997. Of course, during the 1990’s the stock market raged as R.E. tanked.
When gold got smashed down to the low $200’s in 2002, nobody could believe had bad it gt. Then when gold surges from about $220 in 2002 to over $1900 in 12011, nobody believed it until it did; at $1900 everybody was talking $3000 gold. Then no one could believe the smash-down in 2013 and that this bear market in gold would last this long.
All I can say is this, when gold takes off again no one will believe how high it will eventually go. When the stock market crashes again, everyone wil say “I can’t believ how low the market is going” and “This bear marker seems like it will never end”. Everything is timing as we all know. My advice to all here, for whatever it worth, is to hang onto your gold and get out of the casino.
Good advice Mike!
I’ve explained previously, absent major change (which has not happened and is not on the horizon), or a large consortium (now non-extant), China will not back the yuan with gold.
For anyone willing to pick this apart, it isn’t rocket surgery. Backing the yuan with gold would, from that moment, destroy China’s economy. I stated it plainly from a couple of years back or so, and I repeat it now. China will not back the yuan with gold.
Just in case you thought I was making this up.
http://abcnews.go.com/Business/story?id=7168919&page=1
BRICS Bank + AIIB + CIPS + Quantum Satellite + Gold x Gold backed petro Yuan = New world reserve currency coming to a town near you.
That is………unless you really think 125 trillion dollars in unfunded liabilities can be sustained using 3 trillion dollars in tax revenue. Its not going to happen people. The Chinese are going to cut our credit card in half when they launch the gold backed petroleum benchmark in October. Maybe I’m dumb, but how can the petrodollar remain as the worlds reserve currency, when half of the world won’t be using it for trade? From where I’m sitting, its going to lead to more debasement by the Federal Reserve Bank in the form of QE to make up the difference. And then what?
Good on you Jerry!!! I think this means the markets are about to get shaky.
Greg
Jerry and Greg,
the bottom of the ABC article says it all, TOO DIFFICULT!! Not going to happen gentleman. They cannot afford for the markets to drop, to many derivatives tired to it, so I do not think the markets will be shaky. The world is all drinking the same, we are along way from change. As long as they can continue to manipulate the world is a wonderful place. The 18th will come and go just like any other date.
One things I would ask both of you, history has always shown that somebody is always in the know, if gold is about to go nuts in just a couple weeks due to YUAN backed oil, why the hell is everyone selling it and the mining shares. Just don’t bye it.
Yes Hugh,
The Chinese are buying gold because they’re having a love affair with it, and the “Working Group” (my bet is you don’t know who they are) are involved with the internationalization of the Yuan into the U. S. banking system because they have nothing else to do. Right? Normalcy bias doesn’t effect you does it?
Jerry: All of your past predictions have been totally wrong….so wrong that I’m laughing at you latest prediction.
Stan.
Snore…………..your comment is boring. Say something that takes balls. My bet is you don’t have any since all you can do is snipe.
China will not back the yuan with gold because it would destroy their economy.
Do you see value in citing web articles from approximately eight years ago?
How do you continue to not see that the change you seem to expect to happen precipitously is a commonly-planned evolution?
I keep thinking of what John Wesley said…that many protestants criticize the Catholic church for all the gold on the statues and altars they idolize, then they themselves idolize the gold in the banks. Who is betting on our Heavenly Father to give us our daily bread? This comment section is just too much!!!
This was a great interview. I would love to see more of this guy in a regular rotation with the likes of Kirby, Holter, Rickards, Celente…..
Sometimes the guest is speaking and you are speaking at the same time, dividing my focus between two lines of thought and not knowing who will yield. Perhaps in the pre-interview a gesture or sound could be agreed upon that would alert the guest or yourself to look for a convenient pause to allow interjection. I realize this is a bit difficult because of the delay but at times there are multiple stammering attempts to redirect because the timing can’t coordinate exactly.
Thanks for providing these guests for our benefit.
Hi Greg, love USA Watchdog! Been reading/listening for years.
Have not read all the recent comments so hope am not duplicating an observation.
Mr Long projects that gold will quickly jump to $5,ooo-10,000 dollars per oz. Which sounds great to us longtime gold holders but then he goes on to say that the dollar will devalue over 70%…or be roughly worth 30% of what it is now.
Therefore, 30% of $5,000-10,000 would equate to $1,500-3,000 per oz in today’s dollars, right? We are pretty much at the bottom of that range now. So basically it maintains its value with some upside potential. Better than losing 70% if one is holding only cash, tho.
Hi Greg,
WOW!!! I can even say it backwards !!!WOW. Awesome interview.
Shalom,
CC
Gold – we are actually right now at the very beginning of violent moves both up and down. The price action in gold is showing that, with some very shortened cycles, that we haven’t seen in a long time. It wasn’t that long ago that we were seeing gold well into 1300’s, but now we are below 1300 in a rather short period of time.
Again, this is just the beginning, but it won’t be long before we see quick moves higher taking us above $1400, then moves down again by more than $100 in less than a week. It’ll look like a shake out, coming to the downside, but higher lows are being built on this as we speak.
This will likely coincide with some pretty rough external events, perhaps like NK actually doing something really stupid with a ‘live’ missile, but making it look ‘accidental.’ It could be something else. Everyone on the planet will view it as gold ‘reacting’ to the news when in reality, gold is foreshadowing some serious cracks in governmental and societal issues that will be long lasting. Interview with Long is timely, but don’t be surprised to see some very quick moves up and down, and it’ll be a long while (unfortunately) before the gold moves get really violent to the upside. I say unfortunately, because people holding gold will be very tempted to cash out, when they see prices back above $1500, $1600, then above $1900. That will be the most tempting time period for what were relatively long term holders (i.e. 10 years plus), to ‘take their money’ off the table. That will be precisely before we really see the big de-valuation coming, and then you will see gold literally rocket ship up over $3000 and $4000 in a matter of months. Very very similar to what Bitcoin has done the past year. And just like Bitcoin, you will see precipitous drops in gold that may take it down 50%, when its up around $2000 an ounce, before it goes way above $3000. It will be the rockiest bull you ever rode. It will be like a bull on nukes and steroids, trying to throw you off. (sell your gold). Because major big time players will be trying hard to get every ounce they can, to hold for generations. They’ve all been actually doing that since 1999, making less and less and less gold available for any exchanging. China as a nation is a major player in this, but the moves in gold since 1999, have been very very subtle compared to what they will be, when the stuff gets so scarce, very very few retail investors like you or I, the average Joe and Jane, will have any. You won’t have to worry about anyone confiscating it, because so little of it will be left that isn’t already owned by generational holders. We are just about there now, with maybe 5% of all gold that has ever been mined, available to anyone to buy now at a retail level. (i.e. gold coin shops, or the few on-line players left.) The mining and mines output are already spoken for, years out into the next 7 decades. Yes they do trade as public shares, but no one here has a clue as to where their output is actually going, and not even a Jim Sinclair is going to ever reveal that. Lets just say their output is NOT going to any place to make gold coins or bars that will ever be available to us peons on a retail level anytime in what’s left of our lives.
SOOOOOOOO…. if you think you can spare some money to buy a few coins now, and its money you know you can get away not touching for the next 20 years at least, and more properly, money that you can say hey “i’m leaving this to my heirs”, then go ahead and do it. But if its something you want to buy now, and hope for a 2 fold or 10 fold increase in the next 5 to 10 years, forget about doing that, as you’d be better off either gambling it on the stock market, or in some small business, that has a 4 out of 5 failure rate. That is because it will be so volatile, you wont ever be able to time it properly, and you’ll likely lose every penny of it you ever bought.
We enter this world without money … and we are going to leave this world without money … so what is this fascination with accumulating trillions like the banksters and warmongering neocons?… simply earn enough to give unto Caesar his taxes and buy the food you need to eat and you will be “just as rich” as the evil trillionairs who sold their souls to Satan when you give up your mortal coil and enter God’s moral kingdom!!
Don’t ask me…it’s just pet rocks. The only real gold is a pure heart that loves God and neighbor.
What a great guest. Gordon seems like a very level headed and knowlegible guy.
Thanks for this interview Greg !
Thank you Jayhawk!
Greg
In the end the REALITY will no longer be hidden from the masses.
YES…they have created new rules…new financial vehicles and they control what is said and what we are told. (for now) (for some)
However, Reality will still win in time.
The debt they have created has only ensured that a reset will occur.
Just because they have continually delayed this levelling effect does not mean that the laws of finance have been rescinded…
Continue stacking real money, food and prepare yourself…because it matters only that you are prepared for the storm regardless of when it hits shore..
USAW is the foundation of the knowledge you will need to get through the coming years.
Greg Hunter is a friend of the people..
Thank you Mike!! Your friend too!!!
Greg
Gold price will not explode. What will happen is the implosion of the fiat currencies’s exchange value relative to gold.
Corleone,
Maybe the buying power of it explodes when bonds (and currencies) are wiped out?
Greg
The current sovereign bonds could be wiped out, but the governments will make new bonds to replace them. If the new bonds will be backed by physical gold, the gold’s exchange value relative to the fiat currencies will go up significantly. Perhaps that is the trick that will be performed by the governments: the will issue the gold backed bonds denominated in their own fiat currencies. To the people who own physical gold, it would look like a new gold backed Ponzi scheme.
My takeaway here – it’s very important for us all to take the Long view.
Yep… and here is the what is likely the response to the new tax reform plan that the GOP thinks will quell their dissatisfaction for not keeping their word on the ACA repeal…
https://youtu.be/uhiCFdWeQfA
Well done Greg. I see that Zero Hedge is now running some of your interviews, along with numerous other sites. This is an accomplishment that deserves credit, considering the thousands of sites on the Internet.
Thank you WC! I really means Gordon Long was a very good guest. Hope he comes back.
Greg
Mr. Hunter: That was a great interview! I hope he can come back. I wonder Mr. Long thinks will happen with the Fed as President Trump will be able to appoint 5 of the 7 governors.
Not to steal from this terrific interview, Lynette Zang just posted a video on the not so out of the system CryptoCurrencies. Vide0 is about 30 minutes.
https://youtu.be/PChjGysro4w
Love this guest.
Here is where I disagree with one of his assertions:
In the event the government decides to attempt to confiscate or heavily tax PM’S…95% of the owners simply won’t play along. PM’s will neither be turned in for fiat or fall victim to excessive taxation. They will serve as a medium of exchange via barter or will be married with the crypto world and facilitate the exchange of “things” .
Robert I totally agree Most stackers will simply take their metal “underground” figuratively and literally in many cases
Greg…. just a short post with data on the NFL issue… so am not sure if coincides with their complaint about being unfairly and arbitrarily harassed by the police… https://www.usatoday.com/sports/nfl/arrests/
I’m boycotting NFL, NBA and ESPN.
#@!$ them all!!!!!
Well, it’s a small world! I never thought I would see one of those again! Just a bit of trivia here on the lighter side. You mentioned Gordon once worked at IBM. See that little block on the shelf behind him that says THINK? Wonder where it came from? IBM gave it to him. How do I know? I cooped there from college at IBM Endicott NY (where IBM originated) in the late sixties prior to being Drafted. They gave me one back then also and I still have it. I have never seen one since and I also worked there the late 70’s to early 80’s. They also have it inscribed on the top of one of their main buildings there. When I worked there the work force was around 12,500. Now it’s only around 500 with many buildings sold and/or in disrepair. A sad time of the times in that regard. Anyway, I sure was surprised to see one some 50 plus years later having never seen one again since they gave me mine.