Risk Exponential and Unmeasurable – Egon von Greyerz
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Financial and precious metals expert Egon von Greyerz (EvG) vaults gold for clients at two secret locations on two continents. He says his wealthy clients have at least 20% of their net worth in physical gold and silver. Some have much more. Why so much physical metal? EvG says it is because of record risk in the world today. EvG explains, “There is only ½% of all world financial assets held in physical gold. So, this is a very small group, but it is still a lot of money. Of course, the majority doesn’t believe this because if they did, all the other markets would collapse. The particular people that are concerned about risk that we deal with, and they are not concerned in a minor way . . . look at all the asset classes, whether you take the stock markets, bond markets or property markets, they are all in the most massive bubbles fueled by exponential growth in credit. Global credit has tripled since 1999 to today. Global debt went from $80 trillion to $240 trillion. When debt triples, it doesn’t mean that risk triples. Risk goes up exponentially. Then you add to that all the off-balance sheet items and unfunded liabilities. The derivatives are at least $1.5 quadrillion. . . . Officially, it is reported $600 billion, but it is probably $1.5 quadrillion. . . . So, you are talking about risk that no one understands, and no one can measure. Most of it is in paper or air, if you will. It’s like a balloon, and when you pop that balloon, you will find it is mostly air. This means asset values will implode, and so will debt.”
How bad is this going to get? EvG says, “I think stock markets and bond markets will go down by at least 75%, and I would say it could be up to 95% or more. A lot of companies will disappear. I am not saying the world is going to end. You must remember, in 1929 risk and debt was nowhere near where what it is today and certainly not globally either. This is a global problem, and not just in the U.S. In 1929, the stock market went down by 90% between 1929 and 1932. It took 25 years to get back to the 1929 level. So, it could go down by 95% today and that would not surprise me at all because we are talking about a much bigger problem. And don’t believe that central banks and governments are going to rescue this. They have used all their tools. They have inflated the money supply with printed money, and they are telling us all that they have it under control. They have nothing under control, and there is no margin to lower interest rates anymore either. Therefore, in my view, interest rates are going to surge. They could try to lower them when the markets get into trouble. It will not succeed, and it will be like in the 1970’s, and you will see 20% interest rates.”
EvG also says, “With this risk, people have to take insurance. This business is not a business, it is a passion, and I have a passion to help the few people that see the risks. . . . I think your best wealth preservation will be gold.”
In closing, EvG says, “. . . At some point, all hell will break loose. There is no question about it. It could be something very serious coming this autumn. The whole political system is fighting against Trump, and that is going to be tough, very tough. . . . The markets are giving me the signal that things are going to turn in the autumn, and you can easily find a number of catalysts for this to happen.”
Join Greg Hunter as he goes One-on-One with Egon von Greyerz of GoldSwitzerland.com and Matterhorn Asset Management.
(This report talks about extreme record breaking risk in the financial markets, why people need to have an insurance policy of physical gold and silver, and a possible crash of the markets this fall.)
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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.
Is there any place, in the world, that an American will be safe? It seems we are expendable.
Americans have bombed, threatened, plundered or invaded every nation on the planet. Yet Americans still see themselves as the cream of Earth’s population that would just like to go and live in a nice safe non violent country where they can enjoy their guns, drugs, corrupt and immoral lifestyles in peace. Problem is, nobody wants you.
We know, Spike. You just want our Republic, for which it stands!
One nation under God. Indivisible, with liberty and justice for all.
I’m sure in your country, you can’t wait to get it. Well your not welcome to it.
How did they sell socialism in your country? Did they put you all to sleep first? Well, we the American people are waking up fast. As to who wants our country and you sir ain’t gonna get it. Thanks to our Bible and the founders of our Republic, hi who were wise to give us the right to bear arms. Like Ben Franklin said when he was approached by a group of citizens asking what sort of government the delegates had created. His answer was: “A republic, if you can keep it.” The brevity of that response should not cause us to under-value its essential meaning: democratic republics are not merely founded upon the consent of the people, they are also absolutely dependent upon the active and informed (USAWatchdog.com) involvement of the people for their continued good health and Norman the Yank’s, still got a measure of good health and a very healthy president at this time.
There’s another Norman I can’t help thinkin of. He’s known as the Shark. He chose to be an American and we love him. His name is Greg Norman. Ever hear of that fellow? I’m sure you have, Spikey Norman! We love Greg’s around these parts and some were even born here, like Greg Hunter, Mannarino and millions more. So don’t worry and beware. We’re not going down without a fight. So either take a flight and get your bum over here, or stay where you is and fight fer yer country and let freedom ring!
https://constitutioncenter.org/learn/educational-resources/historical-documents/perspectives-on-the-constitution-a-republic-if-you-can-keep-it
EVG one of the greats at a time of unprecedented financial caystrophy.
No, Spikey – your over-generalization is incorrect. And America does NOT have the patent on war, injustice, or corruption: ALL nations DO. America happens to be in prominence – so such crime extends across the world more than most. If you painted a picture fairly – the USA rescued the world a couple times; but then became corrupt and did some serious damage. But America has never conducted a real genocide – only toyed with regimes and many minor countries. Also you overlook that good that America historically has accomplished.
And the idea that nobody wants us is also disproved by the MILLIONS of Illegal Immigrants who have passed to, and the millions more who are trying to get into the USA. I assure you it is not for the drugs, corrupt, and immoral lifestyles. Overgeneralization in this form is intellectual dishonesty. You should have known the USA in the Fifties. Milk came in glass bottles, with waxed-paper caps, delivered to your door.
And Charles please tell me about genocide !!! Are u kidding me when usa has perpetrated so much covert experimentation & death of it’s own people … In excess of +500k and other nation`s. The 5-i’s country military ops have very covert activities unknown to most of their civilians…look up Agenda 21 and then explore it thoroughly. How do I know so much?? I am living with daily covert experimentation as a non-consenting victim of microwave and radio frequency attacks. Please go and investigate then wake up all those around you…you could then be classified as a mental case, lose further civilian rights and institutionalised for more experimentation. Here is a massive coverup, now uncovered for our benefit via a website, even offering a FREE eBook “ Psychiatric-fraud.pdf “
at http://antipsychiatry.org
Here a video
Prof DR Jeffrey A Schaler
https://www.youtube.com/watch?v=95HhDDPd3ts&fbclid=IwAR3NUa4i1Q4IBHfSUXpN59HqC_gTjsIr3MQX8HtpuBlvegWR37T-9oe6QPY
Please educate your community.
Spikey Norman,
There is a reason for that; they have turn their back on the Almighty G-d of Abraham, Isaac and Jacob and his only begotten son born in the flesh Jesus Christ, It is all down hill from here until they cry out for G-D.
Jallen
Even those saved out of the gathering cesspool, won’t be spared the hard time of the direction the world is going in. But the Second Advent (1Thess.5:13-17) of Jesus Christ WILL take us out of the way for God to finish His short work on the earth.
God has done a work equal to redeeming the whole planet: but sinful man doesn’t want it. So the result is ‘a remnant’, out of the whole – a people, then a peculiar people is who He will reserve to Himself. The problem is that many recent ‘scholars’ can’t distinguish between God dealing with the Church and Israel: so they lump them both in together, when God will handle them separately.
The ‘all downhill from here’ is in God’s plan and Scriptural record. Nothing will stop or divert it. But we, and those, who DO cry out to God will not be judged with the world.
Charles H.
The salvation is by one name only – Jesus Christ. He is the Door to the Father. Who Knows him, knows the Father. Wo rejects Him, rejects the Father.
The Children of Abraham are those who do work of Abraham. He was a friend of God because he believed that redeemer will come. Abraham rejoiced when he saw Christ is his vision.
Christ’s bride is a church (His people). He is not polygamist. One woman – one church.
All this is true. At some future point, when the Jews realize the ‘messiah’ of a future date – was their mistake: they will as a nation turn back to Jesus Christ (and probaby will get their wings and the wilderness, because at that point they will have the testimony of Jesus Christ) which concurs with the Tribulation timeframe. The blood-bought bride of Christ, being redeemed – I can’t understand why God would have ‘her’ go into or through Tribulation. So I conclude that Israel and the Church are treated differently. Two entities; two covenants; two determinations.
As to the John 8:39 verse – I find nothing in the whole chapter that actually spells out ‘the works of Abraham’; only prophetic realization that God would provide Christ the Redeemer – so that you must go back to Genesis to derive the principles ascribed as ‘works’. (Believing; trusting; obedient…)
I am suspicious of the popular use of such an obscure scriptural reference. Such amplification usually allows lots of humanly derived ideas to be interjected.
Also – the idea that Christ is not a polygamist doesn’t quite fit either. One God: three Persons. How can Christ have the Bride, and not the others? And Israel is never described as a ‘bride’.
You DO know that one of the tenets of Satanism is: “as above; so below”. Which gives cause to think that God and Heaven are like we have here on earth. Never! It is a trap of the devil to convince people that Heaven is like we know here: NO WAY. God is so beyond us – that we only bear “an image”. He can more than provide for an earthly chosen people, and an spiritual redeemed people – in His time; and in His way: under differing conditions.
Spikey Norman…. sounds like you are insane… perhaps you have been watching too much CNN??? People like you are what’s wrong with humanity – full of anger, hate, violence all because of being stupid due to mental laziness and a narcissistic belief that everyone and everything owes you something.
It all depends on how you define safe.
The $21 Trillion Missing is is only 2 departments. What about the other departments? When other departments are audited, it may be much more than $21 Trillion missing.
Let Freedom Ring!
https://m.youtube.com/watch?v=y-nPsrX05Rk
Why we can’t let the terrorists win…..
The reason our intelligence agency’s spy on us we the people too. Not only our enemies. We’re all the enemy now. And the one we sent to fix this mess, is their enemy no. 1! We no longer have any representation anymore except for him. Trey Gowdy and Paul Ryan no longer represent us, but them. Unlike the Trumpster their deer in the headlights cowards. Barack Obama, had more guts in standing up to them, then they. When this is all said and done they’ll be remembered as Benedict Arnold is remembered.
Why They Took Our Governence
https://m.youtube.com/watch?v=0A6dYR7q0Uw
We can’t let terror win!
Mr. Hunter: Thanks, I needed that: solid common sense.
Thanks Mr Hunter and Mr von Greyerz,and may I re-iterate Mr von Greyerz’s last comment,thank you Mr Hunter for what you are doing for us “deplorables”.
The awkward question is,with the only remaining asset that is liquid,will a sitting president not turn up at the gates of these gold storage units and demand the keys in utterly dulcet tones of civility,whilst next to him stands a bull of a man in a sharp suit obviously carrying a gun as his enforcer?And there won’t just be one bull necked man,there will be many all with advanced weaponry.Of course many will say this is unlikely in Switzerland,well Mr Obama during his regime ensured Swiss banking and asset management were nearly destroyed and a number of very old banks were.Reality,socialism is dying,just like communism did,and in its death throes all assets will be consumed for its benefit;that Goya or Chagall on your wall can be sold for the benefit of your local government’s pensions.Better to have your Goya “stolen”,whilst uninsured,an important point,and a sad loss only to emerge after the collapse.This is the mechanism a number of wealthy are employing for jewels which will gravitate to art if not already.
Those legal mechanisms of handing money onto the next generation,will be attacked,particularly here in the UK such is the ferocity of the socialists in power who are hiding behind religious garb.
As EvG states: “people concerned about risk are buying gold” and they are doing the right thing … as it looks like we are headed for another war … if you listen to the pompous ass warmongering neocons we haven’t had enough wars (i.e. Iraq, Afghanistan, Ukraine, Syria, Yemen and now Iran) … and what excuse is Pompeos using to get us into another war? … for one he is saying that we should invade Iran because their economy is not doing well (because of US sanctions?) … did he ever consider how our US economy will be doing once Russia and China put sanctions on us? … he also says some workers are not getting paid, strikes are occurring, the rial is falling and unemployment is at the staggering level of 25% (according to John Williams (no government officials listen to) our unemployment level is close to this level) … then he says some people in Iran are expressing frustration with their government’s corruption and mismanagement l(ike we Americans are similarly frustrated with corruption and mismanagement (i.e the missing 21 Trillion dollars, etc., etc.)?? … you know … we Americans are lucky we don’t have foreign countries trying to do a regime change on us for these flimsy reasons (but come to think of it … we do have a bunch of internal traitors trying to do a regime change and get rid of Trump) … so here we go … off to war once again … will it be nuclear??? … Pompeos will try to tell us fighting Iran (along with their two nuclear armed allies Russia and China) is going to be a cake walk because the Iranian people will welcome us with candy and flowers … I guess just like the people did in all the other countries we invaded (and are still fighting 18 years later)!! … https://www.zerohedge.com/news/2018-07-21/state-dept-insider-eerily-familiar-drumbeat-war-intensifying-ahead-pompeos-iran
So it looks like it’s going to be the “Mother of all Wars” … https://www.zerohedge.com/news/2018-07-22/iran-warns-trump-not-cut-oil-exports-threatens-mother-all-wars
This is the way the Iranian President Rouhani explains negotiations with the US … he says that “the US Government’s words or even signatures cannot be relied upon and thus negotiations with the US are useless” … sort of the same lesson the American Indians learned when they negotiated with the US and then our government ripped up our “signed or unsigned treaties” with them!!
You know … instead of the neocon warmongering knuckle heads fighting another war over oil … why don’t the American people take a stand and demand that the hundreds of billions of dollars that will be needed to fight a war with Iran … be used instead to build a massive solar farm in the desert southwest and make the US completely energy independent??
White man speak with forked tongue!
Both Iran and North Korea have have threatened us, and Japan / South Korea. Iran has also threatened Israel. I say we bomb the crap out of them if they don’t tone it down. Just one or two nukes would settle the score. Luckily we have some excellent leadership- ie Trump and Our secretary of defense that are trying to negotiate peace and also undermining those regimes through quiet back channels. We should be very grateful and pray a lot too. The end is coming but not yet!
You would say that Russ Maybe you and Robert can both go live there
Better than Turkey.
To each his own Chump
There is probably an Iranian writing to an Iranian web site right now saying ” USA has threatened Iran. USA has also threatened Palestine. I say we bomb the crap out of them if they don’t tone it down. Just one or two nukes would settle the score.” Oh wad some power the gift gie us to see ourselves as others see us……
” I say we bomb the crap out of them if they don’t tone it down.”
Why do you suppose there is so much hatred toward the USA? Go no farther than what has in more recent years been called the deep state. These people are essentially psychopaths and they DO NOT represent the majority of people in America. But EVERY country in the world has psychopaths. The big failure of humanity has been to not get this – partly because psychopaths are adept at being charming and portraying themselves as ones who are looking out for others. How do they give themselves away? No conscience, always belittling others, always sowing seeds of doubt, always lying, always twisting things and so on. They manipulate others for their own benefit.
Here is a good example of a psychopath:
https://www.huffingtonpost.com/entry/qanon-conspiracy-real-life_us_5b54bbafe4b0b15aba8fe484
If you read the article you will notice how Andy Campbell creates false “facts” and goes out of his way to belittle others to convince the reader that all those who he is writing about are nut cases. Problem is, his report is nonsense. But I suppose someone who believes this sort of commentary will have fallen for it.
easy Dr Strangelove
Greg,
I couldn’t help noticing a discrepancy in the poll numbers.
The Yes number is 2,855, and the No number is 111. This totals 2,966, yet the Total Voters shown in the box is 3,486. That’s a discrepancy of 520 voters. What’s going on there? People attempting to vote twice?
Great interview with Mr. von Greyerz. Happy Sunday.
David,
Something like that.
Greg
What!
“giftie” apologies
Maths does not lie as Egon knows. The debt created currencies have not only destroyed savings and the value of assets but also the real productive value of human education and inspiration to achieve.
We have a perfect storm of bubbles in real estate, shares , bonds , astronomical debt and derivates that get honoured first.
They have never lost control over the markets before because people could escape to another asset class and they just conjured up more money to patch the holes. This time is really different.
Pure wisdom right there. Egon chases fact not fear. Reminding all to not think all is well but to take precautions.. to have a insurance policy against the facade of fiat, there is a high probability of a huge crash. Thank you Greg for asking the right questions and asking them of all your guests often, cheers.
Good stuff and the synch problem was nothing We get his message and some of us got it a LONG time ago
the prophecy of HD looks like it is emerging
oil is obviously running out, there is nothing else in Iran worth fighting over.
EvG fantastic speech.
Peak Oil is a contrived deception. This is a carbon-based world. Just what do you think hydrocarbons are? There is coal for centuries; but oil? Peak Oil is like Climate Change: just a pretext for extraction of greater sums.
The Sun of God is sending us a message as to exactly where to build our Nation’s “solar farm” (to free us from our oil and energy problems) … a “massive solar farm” the size of Long Island will provide ALL our energy needs … and yes … just like ESTHER our Sun of God can provide us all the oil we need through the process of “man made” photosynthesis just as crops like corn, soy, flax, olives, etc., etc. do for us … our “solar farm” can be engineered to pump out all the oil we will ever need need … so you warmongers out there can stop all your immoral and unnecessary wars that kill women and children to control Middle East oil wells! … https://www.zerohedge.com/news/2018-07-24/us-southwest-suffering-heat-and-drought-not-seen-1930s-dust-bowl
Pistachios are delicious
What more can you say.
Thanks Greg
I already see inflation and prices going up in my small home town in rural New Hampshire. Wages certainly are not going up; my employer passed on any increase for the first time this year in many years (since health care costs continue to rise, any sales increases are marginal at best, etc.) I do agree that anyone may buy even a small amount of gold or silver (e.g., rare coins) if they are so inclined; however, I still feel a sizable portion of the world’s population will NOT survive 3-6 months after the next crash. That is also what the world’s elite are banking on; they will NOT reset the world’s economy and monetary systems for 7+ billion people. The goal is to reduce the world’s population to less than a billion people.
I would not expect your guest to disparage any of his clients; he does not want to compromise his business. But his clients are NOT all good and humble people. While I respect his opinions, and it was a good interview, describing his clients as humble was a laugh. Secretive? Yes. Unassuming? Yes. Keeping a low profile? Yes. Humble? No.
The only way to survive the next crash will be to share, and eventually, go underground. Trust will be at a premium, and governments will be not the rescuer. Bartering with your neighbor will be commonplace, because none of us will prepare perfectly. Seeing an autumn crash leading into winter is the most ominous prediction. Even Scripture speaks of “pray[ing] that your flight not be in winter.” Most people will do as they are told if the alternative is to freeze to death. And if huge masses migrate south, and you live in the south, what are you going to do? Live in a fortress? Even the Bastille was taken over by the mob.
The biggest risk for many will be the surprise, the changes overnight, the ignorance of the slow and minor changes happening right now.
I see it the same. I worry about being on the road when it begins to unravel. And, yes – I am reinforcing my house to resemble a safe-room. Nobody will be ready…
EVG is brilliant. I love the piece about humility. For many years I prayed to become wealthy – NOT to laud it over others but to help others including one’s family when 1929 recurs X 100. Thanks as always.
Great interview Greg , e.v. G. Is a most interesting guest.myself , I was expecting the u.s. economy to collapse in the mid eighties when the national debt was in the low trillions. So I got to thinking the shadow gov.buggers can float the economy indefinitely on artificial life support with derivatives. Now evg stated the bubble is global , I call it financial gangrene. Maybe the bubble won’t burst for years. The average joe is unconscience and still putting money in the stock market and banking on his pension fund. The wild card is the intense hatred of pres. Trump.i can see the global manipulators trigger a collapse just to blame it on him.
I’ve thought the same thing myself (manipulators triggering a collapse); just before the election.
Greg, when the fake media wanted to know what pres. Trump and Putin were discussing in private , trump should have said he was trying to cut a deal to sell Russia another 20 percent of our uranium mining capacity and negotiate speaking fees for melonia.
Greg,
I’m a big fan of EvG, he’s truly a voice of reason. Everything he says is logical and correct, the problem is we have been experiencing this economic lie for years and all the Banksters know how to do is keep interest rates low and print like there’s no tomorrow.
At some point it’s going to break and many people are going to be hurt.
Lynette Zang says we’re in the reset right now and I think Egon is alluding to that as well, so the when… is now, the real question should be “how long will it take for everyone to notice?” as they did in late 2008/early 09? Because if enough people notice, according to EvG, the collapse will accelerate.
As always, great job and thank you for being the voice of truth in a sea of enemies called the media (including the corporate controlled opposition FOX in the hen house News)
Hurry Stan.
Buy some more Deutshe Bank Stock while you still can.
https://www.bloomberg.com/news/articles/2018-07-22/just-how-deep-will-sewing-cut-deutsche-bank-owners-want-details
7000 cuts? Can you say death spiral?
Jerry,
You may find this of interest. You mentioned that there was talk about heightened DHS activity in last Friday’s post. My source said he suspects there are fears that both alternatives that you outlined may occur at once. He also said many of their top analysts see a “U.S. economic collapse” most likely taking place after:
1. The U.S. middle class has been successfully “bleed dry”.
2. The teeth has been pulled from our 2nd Amendment.
3. The “tax slaves” have been fenced in (i.e. see recent U.S. Passport legislation).
The game the “deep state” plays isn’t always well played, but its calculated and cold. SOD
SOD
I fear you may be correct. My contacts are on the ground everyday and do not exaggerate so I trust them. Since we don’t have direct inside information we are left to piece together what information we have. One event could potentially fold into another it’s hard to say. The timeline I’m hearing from other less reliable sources is that indictments will commence the second week in August. If true the deep state will no doubt come out in open attack and potentially stage a coop.
I won’t sell a single share until it it hits $20.00 and it may go much much higher
Talk is cheap.
Some more good news for Deutsche Bank.
https://www.sec.gov/news/press-release/2018-138
At some point not even the buyback schemes can fill all the holes in this leaky bucket.
Egon von Greyerz paints a realistic picture to me. We might not see the ‘end of the world’, but it will be the ‘end of the world as Americans see it’. And we will be the last to know.
Roger D;
I have enough faith in the American ingenuity to believe in the end, we will survive and prosper.
flattop,
Have you seen what have graduated from the public school in the past 20 plus year?
My son graduated from Pierson High in Sag Harbor, NY a public school and went on to get his MBA from Georgetown so not all public schools are useless A lot depends on the parents and how the child is raised not trying to blow my own horn
Absolutely – spot on.
Egon clearly wanted to stress the point that his wealthy clients are not the ‘masters of the universe’ that have caused the crazy mess we’re in, but they are smart enough to have thrived and they understand how this paper madness must end. I for one am listening carefully to his message….hold physical wealth.
I would be interested to know his thoughts on the involvement of the ‘powers that be’ with cryptocurrencies and to what end. The technology behind crypto’s has been fast tracked into official acceptance and infrastructure as well as into public awareness. Given that we know the present fiat system is going down (intentionally or not) and that we also know banks and governments have long intended to eliminate paper fiat and imprison the masses into digital fiat, this subject should absolutely be part of the discussion. In my opinion the reality of cryptocurrency reinforces the argument for holding real wealth(gold and silver) OUTSIDE the system. Furthermore, regardless of the origins of Distributed Ledger Technology, the subject begs intelligent discussion because the technology itself has the potential to bring honesty and transparency to all markets, governance and political process’s. This technology could liberate the gold and silver markets from decades of criminal manipulation.
DJ
They are wealthy and WELTHY. Egon is talking about wealthy and we even don’t know the latter. We don’t know their names nor how much money they heave because they don’t pay taxes so they are out of public view.
Andre I believe that’s a misconception that all wealthy don’t pay taxes The IRS is pretty tough and likes to make examples of big fish from time to time
Greg
Good interview
” Risk people do not understand ” = Voting for a democrat or a RINO
Thanks Greg, excellent interview. EvG has always specified holding gold in physical form outside the banking system and Andrew Maguire‘s latest interview spells out exactly why.
Andrew Maguire Now Says A Swiss Bank Just Refused To Hand Over Client’s Physical Gold — https://kingworldnews.com/wtf-is-going-on-andrew-maguire-now-says-a-swiss-bank-just-refused-to-hand-over-clients-physical-gold/
A link to the audio interview is at the bottom.
For banks to refuse to return assets to their clients the end must be getting close. And that was a Swiss bank.
Can we say Hypothecated or RE-Hypothecated…!! 😉
Refusing to hand over 1/2 tonne of AU Bullion is serious..very serious.
Russ,
“Swiss banks are capping client cash withdrawals to between EUR100K to EUR200K. Although the onus is placed upon individual banks to decide cash withdrawal limits on their clients, we have recently seen these limits enforced more strictly and the banks are using this as an excuse for not delivering client-held gold.”
If this were true, Swiss banks has acknowledged that gold is money rather than an investment in commodity.
Here’s another good video to listen to:
https://www.youtube.com/watch?v=4Bop7aOnqqQ&feature=youtu.be
Looks like the collapse will start in Europe and not the USA. I would imagine then that Europeans will be driving the price of gold and not Americans. Martin Armstrong has many insightful observations that most overlook.
Deusche Bank could be propped up again? One troll here is gonna be soooo rich with his 10 shares!
10 Shares of Nothing = Zero.
Sierra Tango Alpha November….. are you reading?
O.V.E.R.
Hi Greg, Thank you for the interview. I have been following your work for couple of years. Every year i keep hearing, the fall, the fall it will happen in the fall. Starts to sound like a mantra. Stock market going down 75 percent? I have my house hopefully in order but this is being said every year again and again. If the powers that be have been able to kick the can down the road and arrange whatever needs to be arranged why would it stop now? It s always people who sell Gold and Silver that keep pounding on this.
Tim,
Listen to the interview again. Please grasp the risk and the “$1.5 quadrillion” in derivatives. Where else would you go?
Greg
Greg,
I had already written up a post refuting Egon von Greyerz guess that there are $1.5 quadrillion in derivatives and another error he made about them, but since you know what I have said before about the amount of derivatives being only 600 trillion I am not going to waste time about that since the notional amount of derivatives is still a very large amount.
However I want to bring up the fact that the derivative losses for the banks will only be a small fraction of the total notional amount especially after netting. This is because most derivatives contracts are interest rate swaps so a counterparty would most likely have losses of only a percent or two of the total notional amount of the contract if rates changed dramatically. And it is pretty safe to say that all contacts have termination clauses which are done to protect the counterparties by allowing them to end the contract early. So a bank like Deutsche Bank is not going to owe other banks tens of trillions of dollars because of derivatives. First it is very rare that anyone even lose close to the notional amount of a contract plus a bank that has a lot of derivatives is not going to have all losing contracts and no winning contracts. So it is much more likely that DB would have maybe 1 or 2 trillion in derivative losses after netting. However that does not mean that they could not have other losses on their balance sheet such as from debt instruments to add to any derivative losses.
Greg, ask yourself this, if derivatives are going to blowup if interest rates rise sharply like Egon von Greyerz said in the link below, “When interest rates finally spike, a lot of those derivatives positions will blowup”
https://kingworldnews.com/losses-will-be-devastating-triggering-a-derivatives-blow-up-and-worldwide-collapse/
why did these same derivatives not blow up when interest rates fell dramatically? After all those interest rate swaps had a counterparty who was on the wrong side of the trade when they rates fell. Maybe it was because they did not have large insurmountable losses and they simply closed out the contract with just a small loss as would be expected. If that is so, I would have to believe the same would be true if rates increased.
Jmiller
What are your credentials? Wow,you know it all. You must be some master of the universe? You said “This is because most derivatives contracts are interest rate swaps so a counterparty would most likely have losses of only a percent or two of the total notional amount of the contract if rates changed dramatically.” You do not know this for a fact. You are guessing, and nothing more. Rob Kirby who was a pioneer in the derivative market says there is a huge problem. They said the same thing about Lehman Brothers just before it melted down into bankruptcy. Their derivative positions were “bilaterally netted” We all saw how that turned out. What are your credentials? EvG spent 20 years as a top European banker. He’s spent nearly 2 decades catering to some of the richest, best connected people in the world. I somehow trust his judgment much better than yours. What you write is drivel from an armature compared to EvG. What are your credentials? By the way,you come off as a pompous a$$ with no real reason to be pompous.
Greg,
I don’t know what’s Miller’s credential but he has offered a good balance against an echo chamber effect.
I look forward to read comments from him, Jerry, Charles H, Andre, and many others.
Tin,
I asked for his qualifications. He’s in opposition to EvG and I somehow thing his qualifications are not as good. He would not give them and I have asked in the past for them too. I have not banned Mr. Miller.
Greg
Yes Greg,
JMiller is smarter than all of your guest put together. Right.
https://www.cnbc.com/video/2018/07/23/rates-are-surging-and-a-major-shock-to-the-market-could-be-building
Greg,
All I can say to JMiller is I hope your E/O insurance is paid up. Debt is debt no matter how you want to spin it. Nothing is free.
You said “This is because most derivatives contracts are interest rate swaps so a counterparty would most likely have losses of only a percent or two of the total notional amount of the contract if rates changed dramatically.”
What??????? Much of these derivatives are where the current owner assumes liability for the credit that has been extended to a borrower. These banks have essentially become the “insurers” of substantial amounts of loans. If the borrower (Italian government) defaults, then the holder of the derivative (German bank) is on the hook to pay back the one (pension fund) who originally loaned the money. Of course the (German) bank could default on the derivative and poof, the pension fund collapses.
Donald,
JMiller said this quote.
Greg
JMiller, I have several points:
1) Sure there is some debate about the notional value of derivatives. However, even you acknowledge that the amount is very high. So you know that Egon von Greyerz’s argument does not hinge on whether the notional amount of derivatives is $1.5 Trillion of $600 Trillion.
2) Egon von Greyerz — and a lot of others of us, including Greg — understand the difference between notional and net.
3) Everyone, including you, knows that risk at a systemic level cannot be fully hedged — someone bears the loss (and some more than others).
4) Debt to GDP levels worldwide are very high and there not only appear to be grave interest rate risks, but grave currency risks, grave trade risks, and all manner of other unusually-high geopolitical and economic risks that could lead to a general loss of credit availability, liquidity, and tremendous economic loss and dislocation — in other words, attempted large transfers of wealth even as overall income and wealth are being destroyed. That seems to me to be a classic recipe for depression or, even, war.
5) Even narrowing our view to interest rate risk (which Egon von Greyerz did not do), the consequences of increases in interest rates are different from those stemming from decreases because the losses flow to different groups of people and institutions: a spike in rates will disproportionately harm present holders of bonds and those who insure them via swaps. That will lead to transfers of wealth between groups of people and institutions.
6) Attempted large transfers of wealth (from any cause) are economically, politically and socially destabilizing; thus, they also tend to be catalysts of system-wide income and wealth destruction.
7) I assume that you might disagree with at least some of this.
However, do you disagree with Egon von Greyerz’s bottom line: that the markets are not properly pricing overall systemic risks and that, therefore, it makes sense to have our portfolio allocations biased toward gold and other precious metals?
8) I admit that betting against the efficiency of markets is also risky. However, with such widespread manipulation of the markets, I’m betting against the efficient markets hypothesis, especially in the market for risk. IMO, systemic risk is vastly under appreciated and, therefore, precious metals are vastly undervalued. I hope I’m wrong.
$1.5 Quadrillion or $600 Trillion.
To comprehend the magnitude of $600 trillion dollars in derivatives … divide it by $1200 dollar gold … so these $600 trillion dollars in derivatives the banksters created in a few short years represents 500 billion ounces of gold … as the world produces 50 million ounces of gold per year … these derivatives the banksters have created represents … hold on to your hat … Ten(10) Thousand Years of Gold Production!!!
Now if all this derivative debt in the world is not allowed to default by the banksters simply printing more and more fiat out of thin air (i.e China, US, Europe, Japan, etc.) … Rickard’s prediction of $10,000 dollar gold is going to be off by many orders of magnitude!
With the 133 US Military bases the warmongers have built throughout the world (which likely costs about a billion a year for each one of them) … the cost “in gold” is twice the world’s yearly production … so the US is spending money at “twice the rate” we can dig it out of the ground and this is just for our military bases (the government spends considerably more “in the trillions” each year) … yet Harry Dent thinks the gold price is going to go down? … if Harry is right about his demographics and there are less people in the world but more dollars, yen, euros and yuan … the amount of printed fiat per individual is going to be “explosively more” leading to hyperinflation and rising (not falling) gold prices in terms of government fiat!!
And if Evg is the correct one … the banksters have created in the last few years fiat derivatives equivalent to more then Twenty(20) Thousand Years of gold production!!! … people must have a “Dent” in their head if they believe gold is going down in price in terms of fiat!
JMiller where are you ?
Tim Your memory must be poor That is exactly the mentality many had back in 2005 , 2006 just before the housing bubble implosion and the Great Recession They constantly made fun of Peter Schiff on the mainstream economic channels They ended up eating crow didn’t they?
Part of being a wealthy investor might include having access to CB or Treasury officials in respective nations.
If Egon’s clients have 20-30 percent gold exposure, you wonder about monetary policy, post-collapse. In other words, hyperinflation is a low probability in a few select countries.
The one thing I like about people like Greyerz or Nenner and similar analysts is that they don’t speak in hyperbole or fear based click bait. Calm rational fact based assessment that creates a long term financial plan. Trouble today in our robo-traded algo driven markets is that long term is now between nano-second trades and not decades or generational time spans.
Wealth preservation beats market timing, trust me, your descendants will thank you.
Egon is a bit conservative on the estimates of the american debt.Take for instance the cash needed to fund america’s on going illegal wars/invasions .With about 133 bases world wide ,think of the logistics to move equipment ,soldiers,their wages,clothing,food, medication etc and rumsfeld’s concern over the missing 9 TRILLION dollars.
What I am getting at is the debt in america is so sky high and this debt cannot be serviced in any shape or form…just NOT on…This debt will be handed down to generations to come.
In addition to the military / fbi/ nsa/cia/ pensions etc the TRILLIONS used to prop up the stock market and then we have those same TRILLIONS which are used to suppress the COMMODITY COMPLEX across the board.
THE DIRTIEST WORD WE CAN FIND IN THE DICTIONARY IS DEBT…..america has the highest in the world in fact if you add up all the debt in the world then you are somewhere in a ball park figure as to just how much america owes.(This might sound like an exaggeration but according to the figures we have seen this is a reasonable assumption)
Finally the the off balance sheet accounting itself runs in to un-quantifiable TRILLIONS.
That brings me to the question of how do we insure against that ??? YES GOLD and any other tradeable Commodity most certainly the way to go and that is as much as one can afford.
The above crisis was pioneered by the imbecilic allan greenspan who just recently reiterated what he originally said about GOLD and that it IS THE CURRENCY OF LAST RESORT.
Please people don’t be like the unfortunate souls who lost their lives
after Missouri ‘duck boat’ capsizes killing 17 people.The driver/captain of the boat
told the passengers no need to go for the life jackets and that everything was going to Okay……..Just like your government is telling you about the debt ……everything is going to be OK……well it ain’t and YOU CAN COUNT ON THAT.
Time is running out fast ,markets are way over bloated ,DEBT,MONEY CREATED OUT OF THIN AIR way out of control will ensure that the average american and indeed many other citizens around the world will be like america…..TOTALLY BANKRUPT AND HOPELESSLY INSOLVENT……
My take on just how america is run……Watch this video
https://www.youtube.com/watch?v=heKx2abKaZk
GOD BLESS ALL MEN AND WOMEN OF PEACE AND GOOD WILL.
Thank you Greg
Greg:
Gold medal on this one. Great discussion and flawless description of what is inevitable. I’m making sure everyone in my circle sees it here in Canuckistan.
CP:
Be careful in what you communicate up there in Canada. The use of the term Canuckistan could get you immediately Tommy Robinsoned. You are aware that you are part of the British Commonwealth?
Being an American citizen and 1/2 Canadian and seeing what has happened to that great country to our north, the term Canuckistan is classic.
@ Canadian Prepper,
You are from Canada, good, me too.
Do you have a blog, group?
I belong to the 3%.
Greg, what if the deep state got so damn scared and desperate of Trump that they decided to bring about a depression as your astute guest discussed? The deep state is alive, not a figment of our imagination, it is puppet masters behind the puppets if you will. I believe if these rich, powerful, and dark criminals believe that they could be personally be exposed and face being jailed they could crash the system and put the blame on our President to get rid of him and put in another one of their flunkies like Bush & Obama, just to mention the last two of a long string of yes men.
AB….you may be onto something there.
Please understand that that each and everyone of you had better concern yourself with what the G20 mandates because no matter who is in office in any nation belonging to this group, the elitist agenda moves on relentlessly toward the final goal:
https://www.zerohedge.com/news/2018-07-22/g-20-communique-removes-pledge-refrain-competitive-devaluation
This is the final goal:
Revelation 13:15-17 And it was given unto him to give breath to it, even to the image of the breast, that the image of the beast should both speak, and cause that as many as should not worship the image of the beast should be killed. (16) And he causeth all, the small and the great, and the rich and the poor, and the free and the bond, that there be given them a mark on their right hand, or upon their forehead; (17) and that no man should be able to buy or to sell, save he that hath the mark, even the name of the beast or the number of his name.
And don’t be fooled into thinking the church is getting a free pass from the tribulation promised every believer for we are all to be disciples:
Acts 14:22 Confirming the souls of the disciples, and exhorting them to continue in the faith, and that we must through much tribulation enter into the kingdom of God.
https://sumofthyword.com/2016/10/04/the-rapture-of-the-church-is-after-the-tribulation/
Rob, agree, after much study I am no longer a rapture Christian. I do believe that He will protect some during the tribulation, if it is me so be it, if not so be that. What is important is that we march on to that most important event knowing Jesus is just 3 & 1/2 to 7 years away when it starts. But who knows, the Church Age may well last another 2,000 years or more, but I stand fast in Him who created the world. God Bless, a b
The one thing I hear about most on this website is how there’s going to be major indictments against the 1000s of the deep state players that tried to destroy Trump’s candidacy and presidency. And how those indictments are already written up. Buy who? I say, who’s going to initiate these indictments? Sessions? I don’t think so. If not Sessions, who’s left that could do such an action? Nobody imo.
PS – ABC radio sponsored news is busy this morning trying to influence public opinion against Carter Page for being a Russian agent, even though the real criminals are the ones who launched investigations into Trump associates based on a phony dossier, fully well knowing it wasn’t a legitimate document to use for such purposes. The MSM is nothing but a tool for CIA and FBI to propagandize the American public.
Let me remind you that Eliot Spitzer was busy putting together the case to go after the big bank hierarchy for the fraud they perpetrated, that caused the great recession. You all know what happened to him. That’s why I keep saying, the NSA isn’t about catching terrorists, its about pro-actively capturing data on anybody who could expose what the deep state protects. We all have files.
Robert
We may have to outsource the execution of indictments to Russians because there is no-one left here.
That makes sense… the Russians taking care of Adminstrative justice: because the Chinese will be busy rebuilding manufacturing infrastructure!
Greg,
While we are following the money . . .
— Trump (supposedly) must thump the dollar
— because its too high
— because the stock market is about to take a dump
— BECAUSE THE YUAN just hit a low relative to the dollar
So, at a bird in his ear’s suggestion, Trump says that the dollar is too high and darned if his Fed chair isn’t doing his bidding and raising rates and maybe he should stop that crap …
The dollar gets clobbered, the stock market is saved and no one thinks to check out CHINA, true mover of the the market!
SO WHAT’S UP FOR MONDAY? Anyone?
I went all in, 20%, back in 2009, added a little bit in 2010 to maintain the 20%. When gold reach $1900 in 2011, I decided to reduce my holding from around 33% to 30% rather than sticking to the 20% as originally planned – I should have stuck to the original plan in hindsight.
I maintained the 20% percentage since then but stopped counting around 2014 or 2015. I believe it is currently somewhere around 20-25% – I did a rough calculation and it’s actually less than 20%. My other investments had gone up more than I thought as the PMs sunk to the baseline once again. I infer it’s time to add a little more to the stack.
Fascinating interview, with some good insights into the real world.
I always find myself wondering if our money becomes useless, and people can’t pay their mortgage, will they really allow themselves to be evicted from their homes simply because some banker says so. I find that hard to believe. Seems to me there is a mood in America that is very angry. As Gerald C. always says, “People with nothing left to lose, lose it.”
My opinion is that working people are getting fighting mad about all the corruption that is being revealed in our government. An angry population is not apt to be submissive to the criminals in charge. Volatility reigns supreme in the land. In my view.
After FEMA – learn Mandarin.
Exactly what Pompeos is saying: “An angry population (worldwide) is not apt to be submissive to the criminals in charge” … what we need is a “globalist” regime change … lets replace Soros, the Rothschild’s, etc. !!
http://www.breitbart.com/jerusalem/2018/07/22/irans-rouhani-warns-trump-war-with-iran-is-the-mother-of-all-wars/
Perhaps what Mr. Rouhani meant was the mother of all world wars.
Normally commences with economic sanctions of foodstuffs and oil. Then follows with the CIA and NGOs and a focused internal political destabilization agenda. At present, it involves 133 countries in some form and not always involving sanctions.
The notable precursors to war seem most vividly focused on Iran, China, Russia, and North Korea.
With some irony that Russia and China are asked to cooperate in ceasing oil and foodstuffs to North Korea, all the while being hammered by US financial and economic sanctions.
All in all, it’s about softening a nation’s defenses for invasion-cyber or hot war.
http://theduran.com/russia-ranks-higher-in-switzerland-in-these-areas-of-doing-business/
Amazing! Capitalism in Russia.
Very interesting article. It has the ‘ring of truth’ to it. Thanks.
Egon von Greyerz is a doomster like Jerry. Ignore him.
No Stan,
You are stupid and can’t handle someone as smart and Egon. He laid out his case and you did not. So we should ignore you. Now go away, you add nothing here.
Greg
Greg,
In life you are either prepared or become a hapless victim of bad choices. Stan has apparently made his choice since he is obviously part of the herd that is being culled by the central banks and their market rigging scheme which is about to meet its end.
https://seekingalpha.com/article/4188743-chinas-apparent-devious-sdr-gold-peg-turns-table-western-central-banks-video
No, stan – when the inevitable consequences are too great to face: believe the Status Quo; then tear everything down that doesn’t uphold it. Debt is just a concept. And people are inherently good. Yeah, right….
Stan You Lie. Stan You Troll. Stan Go back to sleep and let the adults prepare!
Stan you lie,Stan you troll, Stan Go back to sleep!
Stan,
That is what they said about Noah and his ark!!!
This dollar / stock market crash will come like a thief in the night!!!
Jallen
Greg,
Thanks for having Egon on your interview schedule. He’s a bit of fresh air in the midst
of all the daily fake news and BS.
I would like to share a report about Fake News and Propaganda with all Watchdogs.It is a must read !! The author talks about the consequences of cultural destruction which comes from being subjected to the mind games being played by those in charge. Here’s the link:
https://www.blacklistednews.com/article/67254/its-all-fake–reality-tv-that-masquerades-as-american.html
As of today the ratio of paper gold to physical is 207:1.
Question. Will the ruling elite make gold illegal? It was once before right here in the land of the free. By law, if you had a vault in a bank you wouldn’t be able to access it a presence without IRS agent. This didn’t happen in Canada nor Europe jut for information to them who think we live in such a privilege place in the world.
Anyone knows about legality of taking gold through US boarder. It looks like nothing is legal anymore.
Andre,
Just for your information gold was never illegal to own in the U.S. even after Executive Order 6102 was issued in 1933 which prohibited the hoarding of gold coin, gold bullion, and gold certificates within the continental United States. You could own as much gold as you wanted in certain forms such as jewelry or gold coins having a recognized special value to collectors of being a rare and or unusual coin. While in other forms such as gold coins, gold bullion, and gold certificates you were limited to an amount that totaled $100 which was about five troy ounces of gold.
And I know of no law which ever said that you had to have an IRS agent present to access your bank safe deposit box even during the Great Depression. I read about that happening during the Great Depression but none of those making such statements ever provided any proof other than may be that fake copy of Executive Order 6102 that gets passed around.
JMiller,
By your own admission some forms of gold were Illegal to OWN!!! Give it a rest smarty pants.
Greg
Gold, in general, was not illegal to own but I will give it a rest as you wish Greg.
I like your posts. I think they are quite level-headed and downright erudite. But – it’s Greg’s site.
SK,
Nobody is above scrutiny and that includes Miller. I have asked for his qualifications and he has not give them. You know what mine are and EvG’s as well.
JMiller
See no evil, hear no evil speak no evil.
How do you define hoarding of gold coins? I am not talking about imaginary value of coins for collectors. I am talking about possession of gold as monetary value which is ONLY constitutional currency with silver. How about having 10 or 100 or 1000 ounces of gold in gold coins? What is wrong with that in so called free society? Aren’t we the “shining city on he hill”? Or this is just smoke and mirrors.
JMiller
You are blantently wrong to say that IRS agents did not inspect bank boxes during the depression and confiscate gold. They did. My grandfather who was an investor during the depression told me they did. Why on earth do you think people buried gold in their back yards? They confiscated cash too. And what legal recourse did people have? It was their word against the Federal Government.
.
Jerry, government is government, and it’s all bad when crunch time comes. Best always. PM
Greg: Thanks very much for having Egon von Greyerz on your interview program.
I have been on his e mail list and receiving his comments for the past 10 years. He is highly intelligent and experienced in the economic world. Also seems able to relate and communicate to the average person. You couldn’t have a better guest.
What happens to real estate investments when things go to hell? What about land?
Mungo (is that a misspelling of Mango?), my old friend. I guess if you had real estate investments in WTC 7 on 9/11 you would have been screwed. Make sure you are fully insured against earthquake tremors caused by collapsing buildings!
On the contrary Silverstein did VERY well on his trade center properties as he doubled the insurance shortly before the demolition Judge Hellerstein ruled in his favor and he got a very sweet payout
Frederick,
Silverstein deserves the death by a thousand cuts.
Mungo If we look at history real estate gets hit but depending on the type and amount of leverage it will vary For example if you own a rental property outright you will be fine or farmland in a good location with no debt Highly leveraged single family properties in por to average locations will get hit the hardest IMO
Frederick,
Real estate in general is a poor hedge in a hyper-inflationary environment, highly leverage or not.
I concur properties in poor to avenge locations will get hit the hardest. If we were not at war with China and Russia at that time, the Chinese and Russian will be buying up properties in their favorite American cities with gold or SDR.
Unless there is fraud and deception involved such figures of dire proportions are scare tactics not mentioning that the 30’s is much different then today with technology, population, material goods developed and built.
One can see this just by going outside and looking at the incredible development of this world since then.
Please be more realistic in your views and not remained locked up in an office all day. Go outside once in awhile.
Hey Cricket,
Have you not noticed all the convictions and admissions by bankers to rigging LIBOR, gold and silver, futures, mortgages, interest and FOREX markets? You do realize the U.S. government alone is $21 in debt and “missing another $21 trillion??? What do you call all of that that but “fraud, deception” and felony crime!!!! Wake up and you look outside!!! Maybe do some research before you spout very stupid things.
Greg
Do you mean like this Greg?
https://www.finma.ch/en/news/2018/07/20180720-mm-rothschild/
Yep!!
Greg
“Go outside once in awhile” ha. Troll must have missed all of the WNWs from the corn field,,,,, lol
Cricket If anything it’s more dangerous today than back then People are far more in debt and far fewer live in rural areas and hence are less self sufficient I strongly disagree with your assessment
Hi Greg –
You really need to listen to this just released Andrew Maguire interview on King World News https://kingworldnews.com/andrew-maguire-7-21-2018/ . It appears that many more banks are refusing requests to return physical vaulted gold to owners.
Allocated gold at that.
If it was allocated why wasnt it (Bars) stamped and recorded as such on the depositors receipt?
The revenge of the Deep State
Carl M. Cannon The Atlantic
PUBLISHED: July 21, 2018
Former CIA Director John Brennan testifies on Capitol Hill in Washington, Tuesday, May 23, 2017, before the House Intelligence Committee Russia Investigation Task Force. (AP Photo/Pablo Martinez Monsivais) ORG XMIT: OTK
John O. Brennan was a Fordham University senior when Jimmy Carter challenged Gerald Ford in the 1976 presidential election. It was, in hindsight, a feel-good election. President Ford had given this country what it needed in the aftermath of Richard Nixon’s disgrace — a soothing presence who reminded Americans who we were. Carter was the fresh-faced Southern governor with a dazzling smile and a simple promise. “I’ll never lie to you,” he said.
But 21-year-old John Brennan wanted more. What exactly, he’s never explained, except to say that he wanted to signal “my unhappiness with the system, and the need for change.” I can relate. Four years earlier, at 19, I cast my first presidential vote. My options weren’t as good as Brennan’s: The race was between Nixon, whom I disliked, and George McGovern, who lost my vote by sneering at those who worried that immediate withdrawal from Vietnam would complicate getting our POWs back. McGovern said he’d go to Hanoi on his knees if necessary.
Thinking this undignified and unwise, I sought an alternative. It was easy to find one. Hubert H. Humphrey was a hero in our family for his civil rights record. So my first presidential vote was a write-in. Four years later, how did John Brennan handle his dissatisfaction with the two major party nominees? He voted for Gus Hall.
I think EVG makes a very good point – get your exposure to physical Gold, keep it in a safe place and stop worrying about the price. Next, you need to decide what % of your portfolio do you want tied to the precious metals and stay to your plan with periodic adjustments as your wealth increases/decreases. Gold is simply a barometer as to what is transpiring in the overall economy and is subject to day to day fluctuations which appear to be primarily driven by rates. Gold is insurance and it takes a steady plan to acquire enough of it to hedge a mature portfolio. The next ongoing strategy is debt reduction, cash accumulation,purchasing supplies and taking care of your family. IMHO, income has to be allocated to those general considerations: acquisition of precious metals, accumulating cash, reducing debt, contributing to a 401k plan, purchasing supplies (food, water, generators, firearms, ammunition, clothes, medicine, tools….etc. ) However, income also needs to be spent on eating out, going to the movies, educating children, going on vacation, pursuing hobbies, supporting your church/charities/others and maintaining your residence. You can drive yourself crazy trying to time a collapse/reset. Just know that with all this debt and corruption that it will get here one day and use the calm before the storm to live a little but get prepared – some will get through it intact and others will be severely affected. I am afraid, however, that many are oblivious to the financial tsunami that is fast approaching because they still can’t see the wave off on the horizon but certainly the early warning bouy has picked up the threat of rising rates and crashing commodity prices – not good!
Again? And they tell us we are all going to hell.
http://www.dailymail.co.uk/news/article-5975427/Revelations-US-cardinal-sex-abuse-force-popes-hand.html
Yes TSI this weasel should hang, but you do realize Tommy Robinson was jailed by your UK government for exposing and questioning how Islamic pedophiles get away with crime with light penalties? You do realize he’s in jail, and his wife is being threatened by these Islamic terrorists–Right?????
Yes and I disagreed with reporting restrictions on that case as I said before. At least they were put on trial though.
Greg, this one is just for you.
https://www.theguardian.com/uk-news/2018/jul/22/us-rightwing-groups-bankroll-campaign-to-free-tommy-robinson
Greg, Christianity aside, the Roman Empire declined due to fraud, greed, and corruption. Now, I am sure speaking of Christianity, that He didn’t approve very much in throwing the Christians to the lions. Now, for a modern day throwing the Christians to the lions, America is turning its back on the faith for the Muslims, atheists, & other Asia Minor sects. Now I ask you Greg, HOW CAN THIS TURN OUT GOOD FOR AMERICA? America in prophesy, quiet in my mind, lost to the dark side, its only a matter of time. Once again I say, this is not my fathers country no matter what technology we invent, its simply rapidly becoming a pagan country of darkness. Sad but true!
Arthur,
More than 60 million people voted Donald Trump into office. I am sure at least that many pray for him around the world every day. Did you hear his inauguration speech? How many times did trump and various speakers say God the Fathers name of Jesus Christ? Many times. If God going to destroy us all for trying to turn the country around?? “Fear Not” the glass is half full not half empty.
Greg
Ok, I will try to stay positive, I do know He is in control no matter what happens.
Greg,
I must say the last interview with Greg Mannarino was going straight to the point, simple to understand, realistic, very well explain. Mr Mannarino was very good.
This interview with Egon von Greyerz is also excellent. They are a lot of good information and your questions are very good.
In my opinion, your interviews are worth a lot for the people. They can help people to suffer less for what is coming, it can save life.
Thank you very much. You are part of the goodman.
Thank you Liberty!!!
Greg
I agree completely with Egon, and you just got to love his smarts and passion.
“Whoever has the gold makes the rules” — which just happens to be China, Russia, and India. The East not only has moved into the position of substantially controlling world manufacturing, but they have been frantically dumping their US dollars and buying gold at low prices. Incidentally, I’m sure they don’t mind that the gold price (and silver too) has been greatly suppressed with paper derivatives by London and New York.
Does anyone see a problem? Is not the US Dollar and its closely tethered US Treasuries the biggest bubbles of them all?
I’m greatly concerned about the middle and lower classes as they likely have not bought one gram of gold or one ounce of silver with any of their disposable income. They have been constantly lied to and given false confidence by our government and the MSM regarding our flimsy, fraudulent US Dollar. They have been mentally zombified.
America is soft, and will fare worse than Argentina or Venezuela in the hard times. Pres. Trump had better find and bring back the stolen gold from Ft. Knox, etc. if we are to have half a chance.
Is it any wonder that Trump has been secretly meeting with Putin and Xi? He’s bargaining for peace and a little mercy for America. I still think we get WAR.
JM
However has more gun powder makes the rules.
Why not have “both” Andre ?
Is there any gold in Fort Knox?
Doubt it or they would be flaunting it Or at least allowing an independent audit
Egon Von Greyerz is a gold broker and “safe storage” operator. He may be the best in his business, or the worst. I do not know.
What I do know is this:
1) He has been beating the SAME drums about the coming economic collapse for at least the last 10 years….how do I know that ? Because I have been listening to his interviews at Kingworld News over all that time.
2) He has NOT made ONE accurate forecast in his interviews at Kingworld News for TIME or PRICE in ANY asset market during that time that I am aware of.
Summary: Do NOT under any circumstances allow this man’s comments to convince you of making any investment. Do your own investigation, and come to grips with the fact that YOU are responsible for ALL of your investment decisions, be they good or bad. When in doubt about doing business with anyone, RUN, do not walk, away. Long after this website is gone, and Mr. Von Greyerz with it, YOU will be the BAG HOLDER of YOUR OWN investment decisions.
And finally, admit to yourself (if no one else) that you really don’t know squat, but that the subconscious desire is to find echo chambers like this one where you can get validation….to hear what you want to hear.
I have nothing to sell you, nothing to promote.
Good luck.
Dan,
I don’t have anything to sell either Dan but if you can show me how the math works our for some nirvana as opposed to what EvG outlined please lay it out here for us.
Greg
dan: Yesterday I saved a link to SGT Report, an “echo chamber” that I like a lot. (Well, it’s not an echo chamber, but I did find their content intriguing).
Today I find out that the whole channel has been blocked by YouTube. Apparently YouTube (Google) doesn’t like some echo chambers (i.e., content providers) — especially those that express political thought with which they disagree.
It’s fascinating that YouTube would forego income in order to block (mainly/only) political speech with which it disagrees.
That’s pretty close to tortious interference with a business relationship (between the content providers, their advertisers (if any) and their audiences). Is a class action lawsuit lurking here? One wonders if YouTubes’ wealth-destroying actions invite shareholder lawsuits as well. Election/campaign law violations? The censorship also smacks of business fraud and breach of contract (implied covenant of good faith and fair dealing) if YouTube didn’t make it clear to prospective content providers (who invest considerable expense and effort in establishing those business relationships) that it might terminate their channel or otherwise cause loss of income (or other damage) based on their political speech. Then there is the issue of oligopolistic/monopolistic restraint of trade; maybe YouTube needs to be broken up into half a dozen companies that will compete for business. Who else is YouTube colluding with in restraint of trade? Come to think of it, Sergey Brin was born in Russia; is he a Russian intelligence operative controlled by Vladimir Putin?
Yes, I agree. EvG had stated this in an interview a very long time ago. Put your house in order and then go out and enjoy your life. Life is a gift and meant to be enjoyed as best possible. We’ll all be of better service to society if we can keep our own noses above the water line come the tsunami.
CONTINUED from above;
Revenge of the Deep State
By Carl M. Cannon July 22, 2018
The Atlantic
Yes, the future CIA director voted for Communist Party USA’s founder. This entity wasn’t funded by Americans. Hall received millions of dollars from the Soviet Union during the Cold War, made periodic pilgrimages to Moscow, and to his dying day referred to North Korea as “a miracle.” Gus Hall was literally a Soviet stooge.
A few conservatives had fun with that indiscretion last week, after Brennan accused President Trump of being an imbecile and a traitor following his disastrous joint Helsinki press conference with Vladimir Putin. “Republican Patriots,” Brennan added, “Where are you?”
This was hardly an isolated example from the so-called “intelligence community.”
James Clapper, the former director of national intelligence, told a CNN audience that Putin must be blackmailing Trump. “After the Helsinki performance … I really do wonder whether the Russians have something on him,” Clapper said.
Naturally, James Comey piped up. The former FBI director tweeted that Republicans in Congress had abrogated their constitutional duty to “counteract ambition” – yes, he said that, adding: “All who believe in this country’s values must vote for Democrats this fall.”
That’s right, the man who put himself in charge of investigating the 2016 presidential nominees said every loyal American should vote against Republicans in the 2018 midterms. This from the guy who assured Trump that he didn’t leak or “do sneaky things” – before slyly leaking FBI documents to a lawyer pal in hopes of getting another ally (Robert Mueller) appointed special counsel.
Today’s Democrats, along with U.S. intelligence types and their media sympathizers, have made a loyalty test out of expressing solidarity with Mueller’s investigation. In so doing, they have settled on an incongruous story line: (1) There is no such thing as the “Deep State,” which is strictly a figment of Trump’s imagination; (2) the Deep State will protect Americans from this horrible president, who, by the way, is a Russian mole.
These mutually exclusive story lines can only coexist because antagonism toward Trump overrides reason.
Historically, conservatives’ concern was the “administrative state.” That’s the phrase Trump adviser Steve Bannon used a month after Trump’s inauguration. What was about to ensue, Bannon vowed, was a fight over the “deconstruction of the administrative state.” He was referring to the 2 million federal employees – “unelected bureaucrats” in conservative-speak – who are supposedly overzealously injecting government into the private lives of Americans.
That’s fairly straightforward, even if one disagrees with the premise. The “Deep State,” though, is something different. It’s been a staple of Hollywood thrillers and television programs for decades, and we all know the basic plot: World peace, racial harmony, and environmental sanity are threatened by spooks and spies and war-mongering neocons — in and out of government. The clueless FBI agent is one archetype, along with the venal CIA brass, the amoral NSA computer nerd, small-minded retired generals, greedy defense contractors, evil corporations and their mindless mercenaries.
While this cinematic fare grows tiresome, it has origins in a serious concept, namely outgoing President Dwight Eisenhower’s warning about the dangers of a “military-industrial complex.” This idea continued to gain traction in the mid-1960s as the Cold War dragged into its third decade and spending on black box programs grew exponentially.
It’s strange these days to hear liberal Democrats and journalists scoff at the very idea of the Deep State. It was journalists who detailed the extent of the problem and liberals in Congress who tried to fight it. In a mid-1960s book, “The Invisible Government,” Washington reporters David Wise and Thomas B. Ross exposed the existence of a “massive, hidden apparatus, secretly employing about 200,000 persons, and spending several billion dollars a year.” This was the CIA, which – true to form — tried to get Random House to kill the book.
As recently as four years ago, battling the influence of the Deep State was still a liberal cause. “There’s definitely a deep state,” Edward Snowden told the Nation magazine in 2014. “Trust me, I’ve been there.” The same year, former congressional aide Mike Lofgren expounded on Bill Moyers’ website about a hidden government that lies beneath the surface of what Americans can see.
“The subsurface part of the iceberg I shall call the Deep State, which operates according to its own compass heading regardless of who is formally in power,” Lofgren wrote. “It is a hybrid of national security and law enforcement agencies: the Department of Defense, the Department of State, the Department of Homeland Security, the Central Intelligence Agency and the Justice Department.”
Lofgren also said the Deep State isn’t limited to government agencies, and as evidence he pointed to the director of national intelligence. “James R. Clapper is a former executive of Booz Allen Hamilton, one of the government’s largest intelligence contractors,” he wrote, adding that Clapper’s predecessor came from the same firm.
Today, Clapper and his fellow travelers are the darlings of Democrats and the press. How quickly things change. Less than two years ago, liberals blamed Comey and his bumbling FBI investigation for Hillary Clinton’s defeat, excoriated Clapper for his dishonest denials that the NSA had collected data on American citizens, and expressed deep misgivings about Brennan because of his record of targeted drone killings of suspected terrorists.
Within days of Trump’s inauguration, however, the highly classified content of wiretaps of the Russian ambassador’s conversations with the White House national security adviser were leaked by the FBI or the NSA to the media. That’s the Deep State at work.
On the rare occasions when they bother to justify themselves, such abuses of bureaucratic power are rationalized with a single, if expansive, rationale: Donald Trump is such an awful human being and menace as president that anything done to neutralize him is acceptable. There’s a slogan for that philosophy: “The ends justify the means.” As John Brennan may recall, comrade Gus Hall never stopped believing it.
Greg, I hope you and all the other peeps like you inquire into this story and promote it as talking points if proven legitimate….
The republicans better get good at playing chess and trump their adversaries or admit theyre all dirty and thats why theyre not playing hardball…
https://www.zerohedge.com/news/2018-07-22/clapper-obama-was-behind-whole-thing
Just remember if they can railroad Trump they can do it to any of us… Citizens need to realize this is about all of us, not just the destruction of the Trump presidency… Why do the republicans appear to just be going through the motions but not really making any points or headway? They need to control the narrative..theyre not though. Trump is the only person really creating narratives…all the repubs need to….
GREG;
As I read the comments, it appears we are all over the map in our opinions of the current financial/political situation.
I believe in God the Father and his Son Jesus Christ has the best interests for America
I believe President Trump has the best interests for America.
Under those circumstances, I am not worried. I am prepared to the best of my ability and the rest, is by Faith.
So thank you Greg for your integrity, your honesty, and your efforts to do good.
Greg, did you ever hear about the Dutch banker Roland Bernard?
http://www.investmentwatchblog.com/dutch-banker-ronald-bernard-blows-the-whistle-on-worlds-satanic-elite/
Or checked out Vigilant Citizen’s website?
https://vigilantcitizen.com
Open eyes,
We are fighting pure evil as said in Ephesians 6:12.
Greg
Greg,
Thank you so much for having Egon on your show. I had placed a request with you sometime back for this interview and what a wonderful discussion you presented. I receive his weekly article like you and get a great deal of knowledge from you both.
Excellent show.
Thanks again Sir
Thank you Kerry. I think what EvG revealed is what some of the richest people on the planet are fearing.
Greg
Greg,
I may be wrong but I think they may be up to a change in strategy. They will get the money into Cryptos instead of gold and silver because it will be cheaper and easier than shorting gold and silver with paper. Then they will crash to zero the cryptos. Killing two birds with one stone. While making big money and the middle-class people who invested in this virtual disaster bankrupt. I’m just waiting for them to get silver and gold below production cost and the mines to start closing. Then I will start to add to my stacks.
https://www.zerohedge.com/news/2018-07-23/25-billion-pound-meat-glut-could-lead-biggest-correction-years
The prospect of having a freezer full of choice meat at heavily discounted prices.
US farmers and ranchers are going to take a hit, but we knew that was coming regardless of tariffs.
Take a good look folks. This is what socialism and currency debasement can do.
https://www.bloomberg.com/news/articles/2018-07-23/venezuela-s-inflation-to-reach-1-million-percent-imf-forecasts
Trying to imagine the China-US trade negotiations, where Mr. Trump demands quotas and tariffs on all imported Chinese goods.
Greg, SGT REPORT taken down?
https://youtu.be/E1MSPt-HHII
and why = maybe this? = https://youtu.be/Clot_Au1rlk
Greg, I thought you might be interested in this prayer for protection. I always got a good vibe from it and I used it once when I really needed it and it helped a lot:
http://community.humanityhealing.net/group/multifaithtools/forum/topics/a-prayer-for-protection
Thank you “Open”!!
Greg
Greg,
I hope you address the removal of the SGTReport fromYouTube in your WNW. His reporting finally ruffled the feathers that pulled the rug out. It is the ‘tip of the iceberg’ my brother…
The idea that someone can “invest” their way around the coming chaos is amusing. Property, gold, silver, art, land, what makes the difference. It will be taken away from you. There is only one way out, so instead of trying to stockpile something, get right with God and prepare yourself for what the Bible says is coming.
Greg,
Don’t know which I like better–your interviews or posts–both are equally good. Hard to disagree with Egon’s advice: 20% physicals , long term property, tangible assets, limited debt, and enjoy life to its fullest.
Someone mentioned poor quality in today’s public school system–I concur. I am going on 30 years in the public school system at high school level in a upper middle class community. Here are their priorities: social media(texting, etc), starbucks and mickey d’s, music and netflix, sports and activities, and last learning. Parents too. Several parents complained that I gave too much homework and it was interfering with sports–shame on me. And that was in an advanced placement class. The inmates are running the asylum and am retiring at the end of this year thank goodness. As usual your educational tax dollars are being well spent for baby sitting.
ps: please get Paul Craig Roberts on if you can–brilliant mind.
Thank you Jeffersonian.
Greg
http://www.atimes.com/article/tweet-of-mass-destruction-ratchets-up-tension-on-iran/
Came across two articles claiming President Trump wants a deal with Iran.
Such a deal I believe, would include importing Iranian oil. It might also include disowning or reducing geopolitical ties with Israel and Saudi Arabia.
Most congressmen and senators are rewarding handsomely by both for maintaining the status quo.
This requires a diplomatic sensitivity that makes a serious effort insurmountably difficult.
I prefer a nearly total US military reduction from US Middle East military bases. I might reconsider Russia, Mexico, Canada, and Venezuela as more reliable partners in US oil importation.
In Venezuela’s case, a basic food for oil agreement.
Tad,
Trump would never sell out Israel. U.S. just moved their embassy to Jerusalem.
Greg
What I’m afraid may happen in the end is something like what happened in Greece. When the banks go bust and the dollar (and the yen and the yuan, etc.) goes bust, the banks go for the collateral. That’s the assets of the people. If what I’ve read is correct the Chinese have been taking some port facilities and Obama was attempting to put up some of our national parks for collateral….can’t swear that’s true though. But the debt is astronomically unpayable and why has the Fed let it come to this point with astronomical debt? What is worth 20 trillion dollars? (Or 40T if you consider the missing money). The assets of the people, their safety nets, their needed infrastructure repair, their education…everything they or the country possess taken in “austerity”? Their national parks, their private property, their (bailed-in) accounts, on and on.
Is the central banking scam over when the banks own everything? And has that been the plan all along? Just clamp onto the neck of a nation and the world and suck it dry like a vampire squid? It ain’t over till they get all the real stuff from an investment of precisely NOTHING? Say it ain’t so, Greg.
Margaret,
The enemy is being fully engaged and he is losing. “Fear Not”!!!
Greg
Your words are reassuring. We are dealing with a long-term situation that can be called nothing short of evil and it MUST be brought down.
Margaret,
Just prepare, pray and “Fear Not”!! Thank you for your kind words.
Greg