Elite Terrified of 1930’s Depression or Weimar Hyperinflation – John Rubino
By Greg Hunter’s USAWatchdog.com
Financial writer John Rubino says everywhere you look, debt is exponentially mounting. Nothing demonstrates the “imminent bankruptcy” problem better than the financial obligations of New York City. Rubino says, “They just announced that they have unfunded liabilities for retiree healthcare, just retiree healthcare and not the rest of their pensions, of $100 billion. That’s for a city, not a state or a country, and if you add their unfunded liabilities for their pensions, which is another $50 billion or so, and their official debt, which is $50 billion or so, you get $200 billion that New York City is on the hook for that they have not put money away for. If a private sector company had finances like that, they would be insolvent, and their accountants would force them to say that.”You can tell the same story for cities, states and countries around the world swimming in unrepayable debt. So, what will be done when bond defaults and financial failures begin? Will Trump let it go like the failed debt of Puerto Rico or have massive bailouts? Rubino says, “It’s possible that Trump will teach that lesson to the system, but I think the numbers are so big now the risk of a 1930’s style depression, or a Weimar Germany hyperinflation, is so great these guys are going to be terrified of anything that seems to be destabilizing. The pressure on whoever is in charge of the central bank or federal government is going to be to try to nip crises in the bud before they can really get going when you don’t know what is going to happen. For instance, New York City goes bankrupt, and that pulls down Chicago, and then that pulls down California. What does that mean? Nobody knows, and nobody wants to find out.”
Rubino contends massive bailouts will explode in the next economic downturn, and they will have grave consequences for interest rates and the U.S. dollar. Rubino says, “They would say, hey, here’s $5 trillion to bail out states and localities across the country. People will see that and will worry about what that means for the value of the dollar. So, they sell dollars, and not just here, but all around the world. The dollar starts to fall, and interest rates start to go up. If the dollar is tanking, who wants to lend money to the federal government that is going to be paid back in a depreciating currency? So, our interest rates go up. That causes our interest costs to go through the roof and forces the government to borrow even more. . . . At some point, the whole thing blows up. There is a number out there when all this will happen. . . . So, the question is what is that number, and when do we hit it? . . . . The concept of fiat currencies will be called into question when all this happens. The dollar might lead this down or some other fiat currency might lead it down. . . .At some point, they will realize all the fiat currencies are basically in the same boat. . . . We can’t know the timing of this, but we can know what will do well when this happens, and that is gold and silver.”
Join Greg Hunter as he goes One-on-One with John Rubino, founder of DollarCollapse.com.
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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.
Mr. Hunter,
Mr. Rubino is one of my favorites. Thanks!
William,
Mine too!!
Greg
Greg – Rubino is a great guest! Interesting the impact he had on getting your work out to be seen. I will add that for many of us USAWatchdog is the first news source we look to and was where we were introduced to Rubino’s work – keep up the good work – you are making a difference.
John
GREG: NOTE AT ABOUT 25 MINUTES INTO THE INTERVIEW JOHN LIST CITIES THAT WILL COLLAPSE AFTER NYC. ALL THE NAMES HE LISTED A COMMIE DEMOCRAT CITIES/STATES , AND HAVE BEEN DEMOCRAT FOR DECADES- THIS TELLS (SHOULD TELL) PEOPLE A LOT!!!
ALSO GREG DID YOU FORGET THIS BY JIM SINCLAIR-
https://usawatchdog.com/jim-sinclair-50000-gold-us-dollar-collapse-hyperinflation-and-more/
And you are one of my favourite commenters.
Likewise, TSI.
Dear Greg
I am a fan for some time. Your guest have provided much information to your readers. I would like to add something to your Dave Janda interview.
My to be son in law is in law school studying Constitutional law. He provided me with the following.
So attorney general is considered a superior officer so under article 2, section 2 of the constitution the president is given appointment power. The constitutionality issue comes from the fact that he hasn’t been vetted by congress yet. Under the same section, the appointment must be made with the advice and consent of senate. This is the same process that was done for the appointment of kavanaugh. A president is allowed to make “emergency” appointments when Congress is out of session, but these are extremely rare and congress has been in session. So likely Whitaker will have to be approved by congress before he can assume the role of attorney general.
As for the ethics rules, those are departmental regulations that have nothing to do with the constitution. The constitution says nothing about conflict of interests. I’m not sure about DOJ regulations, but it should be dealt with the same way as if a SEC officer has a conflict of interest on a company they’re investigating.
This means Whittaker can not perform the duties of the AG. The FISA warrant papers and emails will have to wait until after an Ag is vetted and approved by the senate.
mine too…
Nope. you’re wrong on numerous counts. your son in law needs to do A LOT BETTER STUDYING ! Is he getting an F ?
Come back later after he does his homework a lot better. Tell us what you find.
My source is a 40 year veteran of constitutional law. an EXPERT.
HEY Mike;
The guy said his son in law was going to law school. Think liberal/communist professors.
Makes me feel sorry Gina and her alter ego Treadhead and all the other scum who have tried so hard to bring down the Trumpster. They were exposed by the very leaks they thought would ruin him. It must be so disappointing. Lol!
All they really have left is rage, making them fodder for Trump’s wit: “You Don’t Hand Matches To An Arsonist And You Don’t Give Power To An Angry Left-Wing Mob”
https://theconservativetreehouse.com/2018/11/11/the-importance-of-matt-whitaker-vs-the-administrative-state/#more-156546
My pity isn’t lasting long.
The ‘Elite’ will be okay, we on the other hand will be stuffed.
Great interview Greg
Stuffed…just in time for Christmas.
I guess that makes us Turkeys!
Think about the poor turkeys at Thanksgiving, you guys. They gave their lives so we can thank the Indians that gave us food to make it on this continent. That’s a lot of stuffed turkeys! That stuffing’s sure good with the gravey though.
After we think about the poor turkey’s that are slaughtered for Thanksgiving Day … then let’s think about the poor women and children that are slaughtered the other 364 days of the year by warmongering neocons and drug dealers!!
Funny how NY and Chicago, very liberal cities, are bankrupt.
http://www.usdebtclock.org/
If we look at the US debt of $21.7 T + unfunded Social Security and Medicare liabilities of $45.5 T.. the total of the three is $67.2 Trillion. With ~325 Million people in the USA right now, that means over $200k per PERSON (each man, woman and child) in the USA with just those 3 metrics on the US Government level, not including states or cities or other debts.
I sure hope the average family of 4 has $820,000 to kick in for the debt bubble… (again that is just 3 metrics).
And don’t leave out California … the fires alone will end up costing close to a trillion dollars … hitting a state that’s already overburdened with unfunded pensions and crumbling infrastructure … only under a Demon-rat President will these unfunded liabilities end up being added to the federal government’s balance sheet (via some kind of bail-out)
which would make a currency reset that much more likely!!
Paul – In addition, Cal wants to give illegal invaders free health care, free schooling, welfare benefits etc., etc., … Interesting to see how long the socialist dream of California can run (on the overburdened tax payers) before the fumes run out?
Rubino said, “That causes our interest costs to go through the roof and forces the government to borrow even more”…
At $523 billion in FY 2018 aren’t we already through said roof? Half a TRILLION dollars a year now think about that. A billion seconds is 32 years. A trillion seconds is 32,000 years!
Chip
Liberal with their spending.
Liberal with our money, very conservative with their own.
A true liberal! The one and only time their true, at any time.
It’s interesting that New York and California (and Illinois) have enormous debt problems. What is also true is that the infrastructure is on its last legs. The NY subway system, for example, is being held together with rubber bands and paper clips. A bigger problem in California is the geoengineering attacks on the whole state as documented by Dane Wigington, and the suspicious origin of all the forest fires, perhaps caused by a Directed Energy Weapon (DEW), similar to that used on 9/11. Note that in the devastation videos and pics, the fire was extremely selective, destroying entire neighborhoods, but leaving surrounding tree lines TOTALLY UNTOUCHED. Illinois, btw, plans to tax all wealthy individuals leaving the state. That should go over well. Remember when Maryland imposed a surtax on the wealthy hoping to increase tax revenue but the next years tax receipts actually declined as the wealthy all moved to income tax free states.
I agree with John Rubino; the end is near and like him, I expected it, but not in 2005, rather in 2011. Isn’t it amazing that the criminal psychos can keep the game going. Trump has been wise to criticize the FED lately; if the crash happens during his watch, Trump can easily claim the FED responsible; which of course it always has been for all the fiscal and monetary ills affecting not just the US, but the entire planet.
The end is not near. There will always be plenty of real men to enslave for support of the imaginary economy and the profligacy and excessive life-style choices of the communist oligarchy.
Nothing unusual with some of the trees not being burned or with some homes untouched while others burned to the ground in a forest fire. It has happened plenty of times before. And no one knows if the end is near or not.
Shiva4Senate VICTORY SPEECH!
https://www.youtube.com/watch?v=eY9yzszIzSE
We know Trump will let NYC go bankrupt … so NYC will likely have to sell the Brooklyn Bridge to China (and also give them control over our port) to come up with the money they need to hold them over until Hillary gets elected in in 2020 … we know Hillary will promise to bail out NY, California, Chicago Il, (all the Blue States) and everyone else in economic trouble “to win” … which will result in massive inflation … to protect against a Hillary Presidency everyone should own gold and silver … if Trump wins in 2020 and lets everyone go bankrupt … it will result in massive deflation … and again everyone should own gold and silver for protection … so the moral of the story is that no matter what happens (inflation or deflation) … everyone should be in the same precious metals investment boat if one wants to survive!!
And like Noah did with his Ark … we should take two of each precious metal species on our survival boat … two tons of silver … and two pounds of gold!!
Paul, I will bet you a Morgan silver dollar that hiLIARy will NOT be the democratic candidate in 2020… Chip
Chip … How about giving me better odds … like I win if she simply throws her hat in the Presidential Candidate ring from prision???
Paul. I believe that Pres Trump will not bail out the big banks, and they know it. Thats why they are frantically trying to keep everything afloat
Paul,
We have a remarkable deal maker in the White House right now. China has it’s own problems. Globally deals are going to have to be made world wide. It will most likely in some cases end in bankruptcy. I believe God is in control . I believe Trump and others are in the positions they are in on purpose. I KNOW at the end of the day God is victories no matter what. It says so right in the bible.
God Bless You Paul!
🙂
No question about it Paul, but I still don’t understand why GOD took our house in the ’08 recession or why HE took my brother-in-law in the Twin Towers. We have always been Protestants but perhaps HE wants us to be one of HIS other religions. Keep the faith anyway, Paul.
The true story that will never be admitted by the banksters is that the 8000 tons of gold they stole from Fort Knox was “pocket change” compared to their theft of the “Global Debt Facility” that was in the basement vaults of the World Trade Towers (before their demolition of the buildings to cover up their crime) … the Global Debt Facility consisted of 86,000 tons of gold which was seized by the Deep State when they took Philippine President (Marcos) down … this Global Debt Facility gold was to be used to help the world recover after WWII … God’s people will make sure that this gold and our Fort Knox gold is all clawed back from the Deep State banksters!!
Good advice Paul
Rubino says: “We just don’t know when the collapse will begin” … but the question is … will “we believe it” when it does begin? … https://www.zerohedge.com/news/2018-11-13/collapse-has-begun-ge-now-trading-junk
And further … besides our serious economic problems we have Deep State neocons like Bolton facing off with Nuclear Power’s like Russia and China … who have hyper-sonic weapons (we have no defense against) … it makes one wonder what the “real goal” of these evil neocons are? … do they really want the US to be bombed out of existence? … perhaps because … they are having so much trouble taking our guns away? … Russia’s Avangard (hyper-sonic missile) is currently in mass production (and will be operational in the southern Urals by Jan-Feb of 2019) … and according to US General John Hyten (Head of US Strategic Command): “We don’t have any defense that could deny the employment of such a weapon against us” … Trump is obviously fully aware of Russia’s hyper-sonic breakthroughs … so Trump needs to talk with Putin … but the Deep State neocons don’t want Trump to talk with Putin? … Why?? … is so they can set in motion a chain of events (like starving the people of Iran) that will lead us into World War III??? … these crazy Deep State neocons are obsessed with strangling Iran into submission “by starving their people” … this is a no-go from the get go … the Russia-China strategic partnership simply won’t allow such “starvation games” to be played by the Deep State Warmongering Neocons … against a very critical and strategically important ally!!
Bolton and the Washington Neocon Deep State Terrorists are like a bunch of California arsonists … throwing flares into all the world’s forests … they want to burn the entire place down … Hey Demon-rats … I know you miss your fiery home … but get this in your moronic heads … Planet Earth is not Hell … God meant this planet to be a Paradise on Earth … stop the slaughter … stop the starvation of God’s women and children all around the world! … we have enough of our own problems to solve right here at home … like the Mexican Drug Cartel’s!!!
Bolt-On almost makes me miss Johnny MCCain Almost
After the first bite of the apple the earth lost all paradise status…. God said to Adam: cursed is the ground you should walk, in pain you will consume its produce all your life, it will grow thorns and thistles for you….But i do agree in point with
you,, We have an absolutely amazing planet that our creator has loaned us…..
Paul,
Our entire family voted a straight Republican ticket this month…including what you are now calling “Washington Neocon, Deep-State Terrorists”, John Bolton and John McCain. Did you want us to vote for Hillary instead?
Never Nancy … how did you get that idea?
Excellent point Paul, we’re in it now and I’m surprised how few are recognizing this fact. It reminds me of 2008, while the market was tanking people kept saying it’s a good time to buy a home and the economy is doing great. It took until 2011 for people to capitulate.
That Zerohedge GE article you link is part of the proof.
Especially in light of the fantasy that is feed to the public through the MSM, it is so refreshing to hear the truth. Thank you for this interview. It feels like a cold splash of water first thing in the morning when I watched your interview. 🙂
The worthlessness of the worldwide monetary system is just like ‘The King with No Clothes”.
The entire world is humming along in the belief that there are real assets out there to cover all of the ‘money’ that we have ‘saved’ in our bank accounts, our pensions, etc. while the truth of it is that the insiders have accumulated all of the ‘real things’ and left the rest of the world with empty promises. It isn’t an accident. It is planned fraud and planned harvesting of the world’s wealth by those that are in control of the system.
Read, “This Time is Different, Eight Centuries of Financial Folly”, by Carmen M. Reinhart and Kenneth S. Rogoff.
Be grateful for the years of plenty that we have enjoyed over these several decades, and steel yourself for the hard times ahead.
Sincerely,
CD
Thanks for having Mr. Rubino on, Greg. Very level-headed guy. Inspires confidence.
What’s bothering me, however, are 3 questions that I don’t have answers for. If others in this forum know the answers or care to opine, I would be deeply grateful:
Q1. The latest global debt figures point to about $250 trillion. According to the World Gold Council (https://www.gold.org/about-gold/gold-supply/gold-mining/how-much-gold), the total amount of gold in existence today is roughly 190,040 metric tons. That equates to roughly 6.679 billion troy ounces. If you divide $250 trillion in debt into this amount of gold you get a value of $37,426 per ounce, not the $10,000 per ounce that Mr. Rubino suggested. What am I missing here?
Q2. To assume that $250 trillion in debt is backed by the total supply of gold on the planet assumes, it seems to me, that all governments in the world would conspire to seize every single ounce of gold held by the public. Otherwise, how can you back all that debt? If we look at the total reported gold reserves of the top 20 countries in the world + the IMF (https://en.wikipedia.org/wiki/Gold_reserve), we come to a measly 29,630 metric tons or 16% of all gold in existence. Divide $250 trillion by that amount and you get gold valued at $240,000 per ounce. BUT…the $250 trillion is probably not the right number to use. The better number, I suspect, is total sovereign debt. According to the Economist Global Sovereign Debt Clock (https://www.economist.com/content/global_debt_clock), the number today is roughly $60.1 trillion or $57,697 per ounce. The point here is that the $10,000 that Mr. Rubino quoted seems severely understated, either that or I’m way out in the ozone somewhere.
Q3. The most important question of all, however, is whether the 8,133 metric tons that the US Treasury reports on its books is real or not. Every attempt to get a bona fide audit since the 1950s, from the little I can see, has been mostly smoke and mirrors. (1. https://www.soundmoneydefense.org/audit-americas-gold-reserves, 2. https://www.thenewamerican.com/economy/economics/item/21212-has-the-federal-reserve-sold-the-gold-at-fort-knox) This is very discomforting. If that gold does not exist, which is what Bill Holter has intimated on your show repeatedly, how can the Treasury back a new currency? It can’t. If the USA cannot back a new currency, what does that mean? The IMF will do it? Really? At 2,814 metric tons, we’re talking about 1.5% of the world’s gold. Does that make any sense? It seems to me that if the Treasury can’t produce a bona fide audit, not only is the US bankrupt but so is every other western economy. Does this then mean the global financial center will move from London and New York to Shanghai (where the gold is)? What does that mean?
Just asking questions…
“HP,”
Good questions and good math.
Greg
If my memory serves me, I seem to remember, years ago, that Gata uncovered a line on the Treasury or Fed balance sheet called “deep storage gold.” When they inquired about it, they subsequently removed that line from publication, just as they do, whenever there is something discovered embarrassing to them. It seems that deep storage gold is gold sitting in the ground not yet mined???? Plus if they never let you see it, or touch it, they can make up whatever number they want, just like they do with everything else.
John … Probably the way they stole all our above ground gold out of Fort Knox (which we are forever forbidden from auditing) … they likely stole all the “deep storage gold” (which is now forever off the books) and it is all now “Deep State gold” … but we will claw all our gold back as stealing property does not transfer legal title to the criminals … these criminals will be forced to give it all back … every ounce!!
Thanks Paul. You bring up a very important point: the legality of any transaction that would have pilfered away America’s gold. I have no idea what those transactions would have looked like (assuming they did occur) nor who the ultimate purchasers would have been and where the gold might reside today. Bill Holter or Rob Kirby might be able to enlighten us here.
Why is this question so important? One of the fundamental assumptions we all share in this forum is that the Deep State has been committed to one thing: the destruction of America. How else to create a one-world-order? Well, if that’s the case, then what better way than to destroy the foundation of America’s original monetary system: gold.
So, if we are contemplating the death of FIAT, then we must also contemplate the ability of a nation to rise from the ashes once this death occurs. Can America do it without its gold reserves? I don’t know. It’s certainly a useful question.
Hockey Puck:
You’ve asked some really good questions because they raise fundamental issues and reveal implicit assumptions. Here is my take:
1. Some assets, like money, precious metals, stocks and bonds are more liquid than others and can be more easily traded for other assets or goods and services for consumption. Usually we use money (say dollars) as the standard against which we measure the value of other assets. But the standard could also be in ounces of gold, $1000 face value 30-year US Treasury bonds, shares of General Electric stock or acres of prime Missouri farmland.
2. During financial panics, speculative and illiquid assets lose value relative to other assets (so their prices relative to money will tend to drop), and more liquid assets, like gold, should gain value relative to other assets.
3. However, if the “asset” is fiat money, its exchange value in terms of other assets may go up or down depending on the circumstances: Down if the government is expected to “print” many more dollars to pay its bills; or Up, if debtors are expected to default on their loans (thus destroying some of the loan-created money as banks go bankrupt) and economic activity is expected to collapse. It all depends on which of these forces is dominant in the situation.
4. Unfortunately, IMO, there is no precise way to calculate what gold or other PMs are “really” worth because that varies depending on the circumstances. However, it’s reasonable to assume that they cannot be worth more than the present value worldwide of all liquid financial assets that serve as money or near money in that they are liquid (i.e., can serve as a medium of exchange) and can serve as a store of value.
5. Therefore, in addition to dollars and dollar-denominated debt, the numerator in your calculation could easily include Euros (and other currencies) and debts (and even, perhaps, the value of stock/equities) that are denominated in those currencies and converted into dollar equivalents.
6. If the denominator included all above ground PMs, you could make a few rough assumptions about PMs value relative to each other (say gold at 20 to 1 with silver — but, for now let’s assume it’s all gold). You then could divide the dollar-equivalent value of money-like assets (including stocks and bonds worldwide) by the ounces of gold worldwide to get a rough estimate of the upside possible value of gold on a dollar-equivalent basis.
7. Making the heroic assumption that the world-wide dollar equivalent value of all “liquid” financial assets is, say, twice the $250 Trillion you mentioned for debt, then your calculation of about $35,000 per ounce would translate into about $70,000 per ounce in present purchasing power. That seems to be at least within an order of magnitude of what one could expect in a worldwide financial meltdown that destroys paper wealth, i.e., somewhere between $7,000 and $700,000 dollars per ounce of gold. However, such a worst-case panic would also reduce commerce and the amount of goods and services that are produced, thereby tending to reduce the relative exchange value of PMs.
8. Nevertheless and going to the bottom line: your estimates seem reasonable, even conservative, to me. And, yes, if you don’t have PMs, you won’t be able to buy very much.
Thanks, William, for your time and insights. What stands out for me in your comments is the RELATIVE value of precious metals (PMs) vis a vis all other assets in an economy… i.e. Missouri farmland, yes, but also the ability of commerce to even function, post meltdown. Hmmm! A lot to think about here.
So when we talk about the destruction of FIAT across the globe, what are we saying? I, for one, find it hard to imagine what that would mean. More important, I find it hard to imagine how governments will even be able to “restore confidence” once it becomes obvious to everyone on the street that governments, by definition, are pathological liars. That’s just the nature of debt. It’s illusion built upon illusion built upon illusion, ad nauseam. So the destruction of FIAT, as far as I can see, looks to me like the destruction of a debt based monetary system and the edifice of fake prosperity that has been built upon it.
The result? I think Jim Sinclair and Bill Holter nailed it back in August. We will be forced to get back to basics: hard work, thrift, the value of family and community as our support system, not the illusory promise of socialist governments to change everyone’s diapers whenever we have an “accident”.
Trump proved he knew the time when a reset was coming was under his watch when he answered this when one month after his inauguration:
https://www.youtube.com/watch?v=ubdGL0pPcwg
Father is using Trump to stir up the world to fulfill His Word:
Matthew 24:6-8 And ye shall hear of wars and rumors of wars; see that ye be not troubled: for these things must needs come to pass; but the end is not yet. (7) For nation shall rise against nation, and kingdom against kingdom; and there shall be famines and earthquakes in divers places. (8) But all these things are the beginning of travail.
The “end” comes after the “travail” as it is the year of the Father and Son’s wrath AFTER the tribulation:
https://sumofthyword.com/2016/10/04/the-rapture-of-the-church-is-after-the-tribulation/
Hey Greg, I really enjoy listening to John. He is very smart, articulate in his delivery and his honesty is refreshing.
Thanks for getting him on.
Nice job.
Greg,
As this chart shows, they can delay the collapse all they want to, but they can’t stop it from happening.
https://fred.stlouisfed.org/series/M2V
Eventually you run out of other people’s money. As long as you can cover the interest, you can delay the inevitable. BUT it just takes one default on a payment to start the chain reaction. Either debt matters or it doesn’t. I don’t get to print money for my business, so why should banks get a free pass?
The central banks are nothing more than parasites living off a host which is us. I want my tax money back that was used to bail them out in 2008. Do you think I’ll ever get it? Do you think they would give me a free pass if I failed to make my payment? They have a reason to prolong this scam, because if they’re dumb enough to still be here when the poo hits the propeller blades, and people find out just how much money they’ve really stollen, there may be more than Christmas lights hanging from lamp post.
In my way of thinking I believe that when the net is finally pulled up by President Trump, it won’t just have Hillary in it, it will be filled with thieving bankers, corrupt politicians, pedofiles, and globalist who have committed crimes against humanity. The corruption is so vast it will taken a military action to scoop them all up. Now you see why military tribunals will be needed. It will look like the Nuremberg trails after World War Two when everything is said and done. The stage is hudge! Only someone with Donald Trumps vision could even attempt something like this. We”ll see ? The clock is ticking.
Speaking of charts, look at this one.
https://www.marketwatch.com/investing/stock/db
Deutsche Bank just hit a two year low. Buy low, sell high? Yea right. You can tell looking at the chart they’re just delaying the inevitable. Heck Deutsche Bank is so far gone that even George Soros has a hedge bet against it recovering. They’re just like every other bank. Stall. Delay. Stall. Delay.
And yet, Buffet ‘smells blood’ buying shares of JPMorgan. funny that. I guess he’s not immune to catching the falling knife. Goldman Sachs has been getting sliced up too.
Hi everyone
If a direct shooting war happens between powers or a major war breaks out the civilization ends, perhaps even the life on this planet.
My 2 cents
Oracle 911
Oracle Very true and that fact just emphasizes how insane people like Bolton truly are
I dont think we are anywhere to close to ANY shooting war. The Lamestream media over bakes things, and misleads constantly. In fact, there are a LOT of signs, that we may be closer than ever to some sort of wide ranging Middle-east resolution. You have to look past all the ‘noise’, and connect the dots between who is doing what to whom, and why, their motivations, and then incentives to get things changed. Iran has never been in more ‘pain’ financially than now. They are barely surviving as a society, and if the US had not opened the 8 pathways for them to still sell oil, they would be done, and there would be a refugee crisis unlike the world has EVER scene. Saudi wants the situation in Yemen settled asap. Russia and China want the Syria thing settled for many reasons of their own. But it all goes back to Iran in one form or another. The new Saudi prince has massive internal pressures now that little old Kasoghi has been murdered. He needs some major redemption and fast.
Not predicting anything, but lets see how this plays out.
As for elsewhere, negotiations are still going on with China and US on trade, and similarly NK is not shooting off any missiles every other week or month now, so they still need to do a deal, for similar financial reasons that Iran does.
Trump’s now in a unique position. All the noise from the Dems, and these other minor stories (caravans, pelosi, avenutti, Mueller, Florida, whatever) that are pure nonsense making headlines, aren’t even newsworthy.
So while all the natives (mostly leftist media) are restless, Trump and other real leaders behind the scenes, are probably making a lot more progress than we now can know.
The funny thing about even Florida, is that both sides are screaming they want the same thing. LOL. They are yelling over each other. Another word for that is democracy folks. Its ugly, but if it wasn’t working, and voting didn’t matter, then why would there be such a fuss ???? Think about it, and dont get caught up in the noise or the sausage making. Eventually it’ll get settled.
Interesting…in your worldview, as long as ‘WE’ get the goodies, others can starve, die, lose, and it matters not one iota. Isn’t that called psychopathy?
My my do gov. Employees and officials think their communist agenda really will work?
Greg and Watchdogs,
How about a solution to this financial mess!
1. Eliminate THE FEDERAL RESERVE.
Make ‘THE CREATURE FROM JEKYLL ISLAND’ required reading for High School
students and have them pass a basic test on sound money vs fiat money.
2. Declare Bankruptcy.
3. Issue a New Currency backed by Gold and Silver.
4. Pass a law that all federal, state and local budgets must be balanced.
5. Eliminate all credit cards (Allow Debit Cards).
6. Israel and all other foreign nations not allowed to bribe or blackmail the American
Government. The punishment for attempting bribery or blackmail: life in prison or
death by hanging in the public square.
7. TEACH OUR CHILDREN THE EVILS OF COMPOUND INTEREST WHEN
BORROWING MONEY!!!
8. All television stations and radio stations will have a code of ethics and failure to
follow them punished by Fine and prison time. i.e. balanced and fail reporting of
political news.
9. The almighty G-d of Abraham Isaac and Jacob and Bible reading will be allowed in
the public Schools (daily readings).
10. Only natural born citizens allowed to run for public office.
11. Severe jail time and financial punishment for anyone tampering with the election
process.
12. All colleges will have a code of ethics that both the faculty and students must follow.
13. Eliminate dual citizenship.
14. ANY ATTEMPT TO CREATE A FEDERAL RESERVE PUNISHED BY HANGING IN
THE PUBLIC SQUARE
15. Only allow non citizens to have American jobs if a severe shortage exists.
Any company breaking this law will have its officers put in jail and personally
fined!
The above is a start, lets us demand the American Government serve America and not foreign Governments. Beware of the bankers!!!
Jallen
One more Jailen – Death penalty for taking out huge fraudulent insurance claims on New York skyscrapers (World Trade Center buildings 1,2 & 7) shortly before they are demolished by controlled demolition while being claimed to have been destroyed by terrorists. (Larry Silverstein comes to mind)
Wade Waters,
Kudos to you!
Jallen
Sounds good to me Jallen!
May I add point 16 please?
16: ALL US Military bases that are located anywhere that is not inside the continental USA, Alaska or Hawaii be IMMEDIATELY closed, and those military people who were working there be assigned to fixing the decaying US infrastructure within the US itself.
No more Global Hegemony.
Ray, Canberra, Lap Dog Nation.
Jallen, these are all excellent ideas. Save them.
We are in last stages of the breakup of Lincoln’s republic. It has devolved into a democracy; fancy word for a lynch mob. It is bankrupt, its wealth has been plundered, its gates have been abandoned, and now waves of foreign invaders are swarming in.
Think New Free and Independent States with New Borders. Surely you believe in secession?
Roger D,
I would declare bankruptcy, President Trump is the perfect President to do so. As far as the states are concerned, it would be best to cut out the cancer to save the patient. It seems to me, California is being punished by devine intervention. Perhaps we are headeded for a devastating depression and when people are worried about their next meal they tend to think differently, they tend to realize there is a G-d!
Jallen
“So, they sell dollars, and not just here, but all around the world. The dollar starts to fall, and interest rates start to go up. If the dollar is tanking, who wants to lend money to the federal government that is going to be paid back in a depreciating currency? So, our interest rates go up. That causes our interest costs to go through the roof and forces the government to borrow even more.”
By de-dollarizing, countries are performing the same function. When the dollar dump accelerates, who would lend or purchase Treasuries at any interest rate? The masses would sense hyperinflation and a 20 percent coupon might be too low in two or three hours.
GREG; Pres Trump
A Prophet from India has spoken a prophesy about our President, Sadhu Salverage
is his name. Claiming that the work of impeachment has begun. Senators, Congressmen, Lawyers and Governors are involved.
The Prophesy was sent to Pastor Joe Sweet at Shekinah Worship Center in Lancaster California, who published it.Pastor Sweet says Sadhu is a real Prophet
America, we need to PRAY, PRAY, PRAY
A buddy of mine said this……trump is impeached, pence takes over and elects trump as VP
Pence resigns and Trump is president again ….LOL
So i am trying one more time to get a post in. May I suggest you try and get James Corbett ( The Corbett Report) on as a guest. He has link to facts not people who just give their opinion . He Said She said .
https://www.youtube.com/watch?time_continue=52&v=pk8KlLgwGh8
I doubt very much that Greg would want James Corbett as a guest but I could be wrong
One question for Mr. Rubino, what happens to the stock market when all this happens? Dollar and bonds collapsing, gold and silver going up….
Didn’t Martin Armstrong say money will be exiting the bond market and going into private assets (equities)? And that the move into gold time will come at a later date?
I bought John’s book, it’s a great read. I agree with Rubino, when the economy blows up it’s going to be a bigger deal than 2008, the question is when? It’s been 10 years, usually there’s a 7 year cycle.
John is smooth, he skims the top of the wave and won’t jump in with a possible date. I guess he’s more cautious but as far as I’m concerned he was correct back then. The math supports his notion, how do you calculate a criminal element in to an economic equation?
Great interview Greg
Check out this report and pass it on;
So, is a Mexican NATIONAL(ist,) a BROWN SUPREMACIST? A RACIST?? A HATER???
When you consider the evil, of the well known LA RAZA, that term alone is as racist as it gets.
The propagandists say a nationalist hates all other countries? Then, does that mean the flag waiving Mexican nationalists here in the US., HATE AMERICA? If this is what they say, and it is true, WHY THE HECK DOES the US. WANT A OVERBEARING GROUP OF BROWN SUPREMACISTS THAT HATE US. IN AMERICA? THE LEFT WANTS TO PUT YOU, WHITE AMERICANS, IN THE FIELDS TO PICK THE CROPS. THEN WHEN YOU GET BROWN, WORKING IN THE SUN ALL DAY LIKE MAD-DOGS AND ENGLISHMEN, YOU’LL JOIN LA RAZA TOO!
IMPORT MORE ILLEGAL ALIENS NOW…GIVE THE ELECTIONS TO SOUTH AMERICANS…GET RID OF THE SOROS OWNED VOTING MACHINES…STOP GIVING BENEFITS TO ILLEGAL SPACE ALIENS THAT AMERICANS PAY ALL THEIR LIVES FOR. OUR PONZI SCHEME WONT LAST FOREVER! GRAB YOUR CHAIR NOW BEFORE THE MUSIC STOPS!
And in case you are wondering why there are ten of thousands of military type South American national brown supremacists coming, one needs to look no further than their own racist plans displayed in your face. The out right communist invasion and attack on America has been happening, and is happening. It is called, RECONQUISTA and groups like Mecha are behind much of it, all paid for by the commie Soros and the bankster globalists.
It is the communist take over from within you all have been warned about. While America has been in No. Korea supposedly there to fight communism, communism was back in America growing like a killer virus in every turd bowl in America. The evil MIC profits, America is set up to be killed.
It is so bad now, they are openly in your face and declaring they want to destroy America. It has become so far away from what the grandfathers ever would have allowed to happen, they are now actually electing communists disguised as democrats into the govt of the USA. It is only a matter of time until there is a full on armed and violent communist revolution in the streets of America.
Whoa unto those who let the enemy into the gates to destroy the entire country from within. As it is today, and after the cheating they did in this last election, it is only a matter of time until the communists run the entire country. Of course, the other half will be dead, all in the traditional bull Shiite, Bolshevik style. Communist China will help to do this…most if not every single rice Christian will be slaughtered along with entire families.
Why will this come to pass? Because our shadow government and their puppet’s, the congress and senate did nothing to protect themselves or the country God gave them to prosper in. They have effectively laid down, belly up for the coming slaughter. Satan/lucifer has effectively already laid waste most of America via some vice, or another. Conquering a divided America will be gravy for the surprise attack troops that are here, and coming up the road now. All the guns and war supplies are here also, waiting for those soldiers that are coming.
Wanna bet that new commie bitch from NY they elected into congress is a La Raza Mecha insurrectionist? Watch, they will get her to lead the commie revolution, or something next.
Read up on this very real threat against the USA RIGHT NOW!!.:
http://www.mayorno.com/WhoIsMecha.html
https://www.washingtontimes.com/news/2006/apr/16/20060416-122222-1672r/
http://humanevents.com/2006/07/27/the-emreconquistaem-movement-mexicos-plan-for-the-american-southwest/
“The “reconquista” movement is marked by the flying of the Mexican flag over the American flag and has all the elements of a violent nationalist movement with the terrorist implications.”
https://patriotpost.us/pages/172-reconquista-the-movement
Read em and weep, people. All the daily distractions have kept most American blind to this communist invasion. While fellow Americans bump heads, the communist has no problem with killing all the stupids for being so stupid to not watch their backs, and stupidly arguing amongst each other. Keep ignoring the surprise attack at your own peril. The only way to stop it now is to declare war on them ALL, before they do it to you and mate, it ain’t coming soon, it is ALREADY HERE!
https://www.youtube.com/watch?v=xlDXQdgx_QU
WAKE THE FLOCK UP AND STOP THIS INVASION OF AMERICA BY THE BROWN SUPREMACISTS…THE MEXICAN NATIONALISTS!!
https://www.youtube.com/watch?v=cFxTF7x2zsU
(HARD COPY ALL REPORTS AND PASS THIS INFO TO EVERYONE YOU KNOW THAT CARES ABOUT THE FUTURE OF AMERICA)
The era in which governments could amass un-payable debts with impunity is coming to an end. And the cycle in which mankind pays the price for those debts will soon begin. With the recent increased volatility and uncertainty in the market, it shouldn’t come as a surprise, when the chatter says that we are in for five years of chaos in the economy, the markets and in our business and personal lives.
Batten down the Hatches! Where’s, iron lady Thacher when we need her? Waiting with Ronnie and when they come back watch out! There gonna be as mad as hell and they aren’t gonna take it any mo! https://www.youtube.com/watch?v=ZwMVMbmQBug
https://wealth-wave.com/reports/WSC/rwr-cycles-content/?ec=PWSCUA13&sc=POW&campid=WSCCONT2018-10&pi_adid=400022&pi_clickid=f8a6793453e3479b87e66758aecc3a31&pi_creativeid=432335&subid=2151
#Australia #Housing #RealEstate
Australian Housing Bubble with Martin North
https://www.youtube.com/watch?v=bWCWvGi1CtQ
https://www.youtube.com/watch?v=xlDXQdgx_QU
Very interesting interview. I am guessing that the brain trust that runs NY will not have the wherewithal to navigate the fiscal crisis that is staring them in the face. Same for Chicago and LA and others around the country.
I thought the end was near back in the 70s. But, onward we go. I am fatigued from all the expectations that never pan out.
I would like to give a quick shout out to Mark Taylor. He talks about Satan’s frequency, and to stay away from it. I realized that I get so bitter and angry at corruption in all its forms, that I end up on Satan’s frequency. Now, when I catch myself at it, I can change the subject and immediately feel better. I am grateful to have the error of my ways pointed out. Things are improving for me. (my outlook)
Thank you Greg, Rubino is brilliant !
John Rubino is a great guest. He has a calming voice which makes the bad news much more palatable.
The thesis, that the financial system with its current level of debt and obligations will respond to the next crisis by another round of excess money printing, which will create hyper inflation and precipitate a crisis in confidence throughout the Western financial world in fiat currencies which will demand a new system based on gold and other real assets, seems correct to me. The risk of global war, social and civil breakdowns, cultural disintegration and political upheaval are surely destructive outliers which will influence how it all comes crumbling down. A totalitarian response by Western governments, aided by deployment of the latest technology seems already underway as means for the government to control the coming chaos.
Mr Rubino is correct that no one knows how this will all coalesce or when a RESET is most likely. Many are befuddled by the ability of the puppet masters to pretend and extend this ponzi scheme way longer than possible. Most are unaware of the financial condition of our nation or the consequences which will be thrust upon them. Being that the global elite have seized control of a major portion of the wealth and power and have expressed a desire to cull the world’s population, the future appears dystopian in nature at best.
Elitists who actually call the shots are like ‘The House’. Gamblers might have a ‘hot night’ but even that might just be ‘by design’ to draw them in deeper. How many actually beat The House?
The ones I refer to control the Fed, the stock market, both parties, even the grid. They have bug-out plans that would survive every earthly, non-Biblical event one can dream of. These one are terrified of nothing except having to live amongst us.
For we the great unwashed, our best survival plan would probably be self-reliance. James Wesley Rawles, Founder of SurvivalBlog would be a great guest.
Some things Mr. Rubio said are incorrect. For instance, the Treasury dept does not “print” money, the Federal reserve does and the Federal Reserve is privately owned and controlled. This in itself is a major problem. Further, not all newly “printed” money is bad. If new money, when it is “printed”, goes into non-wealth creating expenditures, it results in the dilution of existing money (i.e., inflation) – this is bad. But if newly “printed” money goes into wealth creating activities, then this is good – its addition to the market has no affect and could even increase the buying power of existing currency by making products cheaper. The BIG SCAM in all of this is why does anyone pay interest on this new money printed out of thin air??? This is a huge problem and it has to end. All this interest does is make a small number of people very wealthy for doing nothing useful.
As for the US dollar collapsing, so what???? Bring it on. This would in one fell swoop end the US trade deficit and end private central banking. How do you suppose the other guy will be affected??? So what if something from China or Singapore or India or whatever costs 10 time more. This problem will be quickly rectified. The US is self sufficient in most of what is essential. And much of this other stuff is not essential and can easily be produced in the US with the relocation of factories. Not sure why this dollar collapse thing keeps being mentioned as being a bad thing again and again and again and again by so many. Have you ever wondered why modern cars are so affordable???? Take a look at a modern factory and all you will see is robots making the vehicles. As for the US dollar and where its going, a good video/interview to see is:
https://www.youtube.com/watch?v=ASvl7St02Qs
Donald, two points.
Re. “The US is self sufficient’ But Americans are helpless. How many can grow or raise their own food, provide their own fuel, survive 4 weeks without the grid?
Re. stuff “can easily be produced in the US with the relocation of factories”. Have you looked at our factories? Most are now Starbucks, cell phone stores, elderly housing etc. Have you looked inside the factories just sitting? They are empty. The machinery has been junked or sent overseas? It takes skilled machinists and machinery to make machinery. Where are they?
The scenario you painted skipped an important reality. Millions of Americans will die (see my 1st point).
“The scenario you painted skipped an important reality.”
Yes there are a lot of dummies out there. I suppose if push comes to shove an appropriate method of dealing with them will be employed. Unfortunately the downside of being near these dummies is getting caught in their wake of stupidity. But that is one of the risks out there as with many others….
D – good post and video!
Donald,
Great discussion and video!
However, IMO, it was a bit “nitpicky” to claim that Mr. Rubino does not know that the Fed actually creates the money that buys so much of the Treasury’s debt. IMO, Mr. Rubino was using a bit of shorthand: Although the Fed is a private entity, it is well aware that it owes its existence to political powers (yes, the Fed and its allies also try to control the politicians and, so far, pretty successfully). Therefore, the Fed actually does pay attention to what the President (who appoints the Chairman) and the Treasury want and, accordingly, IMO, it will continue to fund the deficits even while “negotiating,” sometimes by indirect means, the attached interest rates. Historically, the Fed has largely “accommodated” the Treasury’s desire for it to buy its securities in sufficient quantities to keep interest rates low (and fuel inflation).
I think it is encouraging that so many here understand the fundamental issues and that in large part we are debating/discussing the likely course of events in light of them.
https://www.youtube.com/watch?v=cFxTF7x2zsU
Cambridge House International Inc.
Published on Nov 2, 2018
https://www.youtube.com/watch?v=fjhLp8AHAYc
Great interview Greg
Just one tiny problem if the dollar collapses & Wall Street gets bailed out by the government & the American taxpayer does not bailed out American will become ungovernable. As it stands now the rule of law is a joke for anything democrat. Bailing out corrupt Wall Street will send Joe six pack to the moon.
I do think before the dollar collapses we will go to war to distract the GDP.
https://www.youtube.com/watch?v=TRbMQ4t2Nfo
I’m no fan of Galloway by any stretch, but this is just pure gold. Anyone who can hand US Senators their collective corrupt asses in such a way deserves at least some praise.
Bitcoin – I dont own it, and wouldn’t touch it with a 10 foot pole.
That said, folks were out hyping it again recently, and talking about its ‘stability’, and then with some “experts” forecasting $250,000. When I saw that, I laughed. I said to myself its about to take another dump.
Sure enough, today it crapped the bed, and drop 7% to around $5600.
Hyperinflation or not, there is no way on this planet, Bitcoin is going to be any ‘store of wealth’, EVER ! Its a total con game. Same thing with all the other crypto’s, which on average since their peaks, have collectively dropped now 99% from their highs. Bitcoin, and a small hand full of others, have not dropped that much, YET, but soon will. The total market cap of ALL cryptos is $185 billion.
Back at its peak in late 2017, the total market cap WAS almost $800 billion. Easy come, easy go.
The stock market could drop the same amount. Its bubbled up under all FUNNY money, printed out of thin air. Had we not had zirp for nearly 10 years, the cryptos would have never gotten that high. Same can be said for all sorts of other ‘asset classes.’ We are talking highs in so many things, that its possible none of us will Ever see these highs again in our lifetimes, simultaneously. The Fed and all central banks have been absolutely immoral doing what they have done. Very few now believe that, and would laugh in your face when you tell them that. We shall see.
Mike Me either I was tempted when it was spiking up but didn’t trust it as I didn’t fully understand it I’m SO glad that my common sense won out
The powers that created this mess are basically hoping things can hold together until this demographic/retiring wave who were over promised benefits by greedy pols die off…maybe that takes 25-40 years. Newer workers entering the workforce today are being told to get a full retirement they are going to have to work 50 years., well into their 60s. I don’t think we’re going to make it.
If/when the bailouts come you better be in the first wave, because you’ll get most of it, the second, third waves will get nothing.
All of the financial experts Greg interviews are knowledgeable and interesting to hear ,but I thought for sure the financial system would collapse in the early eighties when the national debt was only 2 trillion or so. Iam also beginning to think it can go on indefinitly. It’s like David Copperfield , you know what he does is impossible ,irrational and doesn’t make sense ,but then he makes the elephant disappear.
I’ve been reading Rubino for a decade. My only disagreement: isn’t our economy presently worse than the 1930’s Great Depression??
I discovered USA Watchdog.com through Rubino and Dollarcollapse.com while studying the economic philosophy of (drum roll – betcha a lot of you don’t remember this name) Doug Casey.
Hey, that’s it, Trump can appoint David Copperfield as treasury sec. and he can make the national debt disappear. Then he can conscript the Make A Wish Foundation and take care of everything else.
Here is an interesting “bit” of news … https://www.zerohedge.com/news/2018-11-14/bank-england-unveils-seven-deadly-paradoxes-cryptocurrency … one need not go into such complication … to know that … owning bit coin “electrons” on a computer file is like owning cabbage patch dolls or tulips or paper dollars (all Ponzi schemes) … there is “fleeting intrinsic value” associated with electron, cabbage patch or paper “currency” … simply put … if I write you an IOU on a piece of paper (like a one US dollar note) … or write you an IOU on a can of Carnation Milk … and then I fail to pay you back what IOU … the person holding the paper IOU has “essentially nothing” (and takes a total loss) … while the person holding the can of Carnation Milk with my IOU written on it … still has a Can of Milk to open and use in his coffee (if I default on my IOU) … obviously a can of Carnation Milk makes a better “dollar” … then a paper US dollar or an “electronic ledger bit” dollar … however … carrying around Carnation Milk cans on your back (with my IOU written on it) may be safer then a paper IOU or or a bit of electrons on a ledger … it is damn cumbersome to say the least … and it also has an “expiration date” beyond which it then becomes as worthless as a piece of paper or an electron on a ledger … but what if I printed my IOU on a slab of gold (that has no expiration date) and then I default on paying what IOU … you are left with a slab of gold!! (a very scarce element that has a non-expiring “rare intrinsic value”) … this obviously makes something like gold (or silver, platinum, diamonds, etc., etc.) a better “Bitcion” then anything the crooks are now creating on computers today … remember … when Bitcoins are defaulted upon … all you are going to be left with is a bunch of electrons on a computer file ledger!!!
Bitcoin is below “mining costs” now closing in on $5000 … people are finally waking up to the fact that the IMF’s SDR’s is just more “paper” … and that their attempt to make digital crypto take the place of the US dollar is now being seen for what it is … simply an attempt to replace paper with “electrons” under “their control” (unlike precious metals “in you hands under your control” !! … https://www.zerohedge.com/news/2018-11-14/bitcoin-crashes-below-6000-13-month-lows
Hey Demon-rats … what are you going to be doing to stop the slaughter of our nations children by the Mexican Drug Cartels? … https://www.zerohedge.com/news/2018-11-14/more-americans-died-drug-overdoses-2017-guns-car-crashes-suicide-together … Oh I know … take away our guns … so we can’t defend ourselves from the MS13 drug gangs pushing dope on American children … as the evil Mexican Drug Cartel would say “what’s the big deal … we are only killing gringos”!!
99.9 of the population, will demand higher and higher government spending! Even most of us here who talk a good talk when faced with no job, or loosing our house, or not being able to feed our kids, or a huge medical bill, etc. will all demand the government help us. We will vote for any politician who promises that help as it is our only hope. Even if you are financially able to provide for your own needs and don’t want government “help” there are at least 100 other voters who do expect government help and they will outvote you at the ballet box. Our Republic is dead no matter who is elected or what they do since we passed the point of no return long ago, it’s simple math now… Buy food that you can store on the shelf. It will be worth way more than anything else we can buy today with our monopoly money (US dollar debt note)…
DerStan,
That higher spending can go on until your currency goes poof!
Greg
yes that’s true, Greg. but unfortunately that’s more than what the Republicans are promising. as I’ve written before, no matter how evil the Democrats are, the Republicans continue to drive any intelligent and conscientious man to them with idiotic philosophies like: no man has ever died from lack of access to health care. even though the life-span of men has dropped by almost six years in contrast to women. the Republicans could sweep every election if they were simply reasonable. but this extremist dog-eat-dog mentality (which is not real capitalism by the way but just another perversion of socialism) destroys them every time. I despise the entire platform of the Democrats but I simply will not vote for a Republican because they scare me even more. They’re both communists. the only question that remains is: which brand or mechanism of communism frightens you the least. Republicans or Democrats. I’ve been around for 50 yrs. after all that time, my final assessment is still that the Republicans remain the worse of the two evils. not that there’s much difference.
Investigate Election Fraud In Florida & You Might End Up “Suicided” – Just Like Beranton J. Whisenant, Jr.
We will likely never know what happened in 2016 and what evidence Beranton Whisenant may have successfully uncovered. Dead lawyers don’t prosecute.
Dean Garrison — November 15, 2018
https://freedomoutpost.com/investigate-election-fraud-in-florida-you-might-end-up-suicided-just-like-beranton-j-whisenant-jr/
Greg,
What’s stopping the FED from literally just printing (computer) the money off book to bail out the cities and states as well as any bank and big company? Nobody will know about it. If they don’t get audited who would know? I suspect something like this is going on in the government anyways. No inflation from it, they just somehow are paying their bills.
Gregd,
Nothing but you are kidding yourself by saying there would be no inflation or downside.
Greg
gregd – printing money isn’t free. by flooding a market with money, it dilutes the value of the money that’s already there. crushing the savings and investments of responsible men and enabling the profligacy and excessive life-style choices of chronic-debtors and speculators. essentially creating artificially hyper-inflation but only for responsible and conscientious men. not for irresponsible and unconscionable chronic debtors. the exact opposite of what needs to be done and the consequences. a gov’t should punish responsible and conscientious men but reward them. it should punish irresponsible and unconscionable men. the original charter of the federal reserve expressly forbade a mechanim like quantitative easing because our forefathers undestodd the dire consequences of creating money from nothing instead of from the labor of men. by creating money from nothing, you devalue the labor or men. and so men don’t have an incentive to work anymore. unless you enslave them or threaten them with prison. and that’s where we are today. if the fed or gov’t continue to print money at the expense of men’s labor, eventually you get diminishing returns and more money has to be printed to compensate for the continued decline in availability of men’s labor. then there’s saturation and printing of infinite amounts of imaginary money is no longer enough to compensate for further decline in availability of men’s labor.
money is not a substitute for men’s labor. money is a currency that represents men’s labor. if you separate money from men’s labor (print it from thin air) then money represents thin air. not men’s labor. thin air doesn’t support the infrastructure. you can’t pay bills with thin air. the only thing that supports and infrastructure and pays bills is men’s labor. when there’s no benefit for a man to work, then he stops working. you don’t pay your bills anymore and your infrastructure collapses. it doesn’t matter how much money you print from thin air. it’s not the money that matters but the labor or men. money is just a representation. a currency which reflects that labor. when money and labor are directly related, you get something in return for your money. whatever a man’s labor can produce. when money and thin air are directly related, all you get in return is thin air. can’t pay bills or support an infrastructure with thin air. only men’s labor does that. substituting men’s labor with thin air is a bad and unsustainable economic philosophy. giving money to people without a return on the investment (besides thin air) is a bad economic philosophy. When you invest in parasites, all you get in return is nothing but a stone-age society. when you invest in men, you get civilization. does that make sense now?
TALKING HIS BOOK
The story goes on and on and on. Precious metals are close to a rebound and a bull market is just around the corner. Broken record. Not until the 2020’s. Hang in their silver dudes.
H.
So you failed math? right??
Greg
Silver Math: 2+2=8 ???
H,
Yep, you flunked math.
Greg
So did the silver aficionados, as well. Blind leading the Blind ? ( I bought a 1/2 bag of Junk Silver in Aug. 2014 and have not made a dime of profit on it thus far. Not exactly a high profit trade. It may or may not EVER pan out. Regardless, I spend $ 13,000 in cash to have some silver coins, sic. “money” as a hedge. Gold is more valuable because its rare and sparkles. Beyond that, its a false sense of security. Go figure
H.
Maybe you need to learn how to be a better investor? I know a guy (not me) who bought 4 bags of silver in 2008 and made a killing in 2011. I thought he was crazy at the time (2008) and then when he sold it (2011), I thought he was crazy again, but not so much now. He told me recently he’s been buying again. He thinks the math of the debt is awful, He tells me he is buying and waiting, but I am not giving you advice (I am not smart enough.) I am just passing along what my friend is doing. Maybe he will be right again and maybe not.
Greg
When people use the term 1930’s depression they mean a deflationary depression such as was triggered by the equity crash of October 29, 1929, and the subsequent horrible Fed and federal policy that the republicans pursued in the wake of that collapse.
And, of course when they refer to the Wiemar hyperinflation, well that is self descriptive.
But, all hyperinflations do eventually end in deflationary depressions.
I think that hyperinflation is so subjective a term that is for any real purposes it simply does not work in economics. Did Zimbabwe or more recently Venezuela have hyperinflation? Certainly, but you can’t define hyperinflation by 1,000’s of percent increase in prices alone. You have to consider duration period, relationship to overall prices in the economy, and the honesty of both the measuring and reporting of prices.
I get jumped on all the time for insisting that inflation is FAR higher than the Fed or BLS claim. In fact, the only place the CPI is even used now seems to be in the annual COLA adjustments for government benefits programs. It may still be getting used to determine some of the economic reports we see reported in the financial media, but, as of the GFC it is no longer clear what metrics and inflation data they are using to generate those statistics. I say this because for many years the government claimed I was getting no COLA increase due to falling prices (deflation) even as the actual prices I had to pay were rising, especially after 2014, and then accelerated in 2016 to today.
I believed they were faking the numbers in order to rig those economic reports, and thus justify monetary policy and fiscal insanity that otherwise would have proven toxic politically. Even the Fed does not use the CPI anymore, they use PCE, or to be more accurate they dumped that too in favor of CORE PCE! All measurements of inflation I really believe are utterly fictional and the only evidence you should accept is your own personal experience with prices no matter that those are derided as anecdotal and worthless.
If you use and believe the official numbers you are going to me miscalculating the prices of anything you are attempting to value. For example, if inflation is at 2% according to the authorities they will use that as the basis for the GDP deflator. So their measure of 5.5% will appear after the calculations as something around 3.7% when what if the REAL inflation rate is more like 8.7%? Then you would see the economy is actually in contraction. Not only that all other reports, like retail sales, which are measured in dollars adjusted for inflation , will be wrong. Reports like car sales which are in units sold, or mortgage applications will then start to look very funky because yu will see those dropping even as the GDP is rising allegedly.
I know my rent was budgeted at $700-800 per month in 2014 and I now have to budget $1,200-1,300 for the same size and quality of rental unit. How this cannot be considered hyperinflation is well beyond me and I will bet my degree in finance nobody can explain it to me unless they are picking an arbitrarily high threshold for the definition. In less than 4 years my housing costs were near 100% higher, I say that if you experience a sudden one time burst upward of near 100% in prices that can be called hyperinflation, or a smaller yet sustained increase over a period of several years such as my rent example.
In fact the Fed has one mandate, price stability, you often hear it said that they are also responsible now for full employment and broadly economic policy, but that is very recent and totally bogus, the latter are the province of the political sphere not the monetary. You will also hear that many price increases are one off, or mandated for social reasons, like the price of cigarettes, I paid $1.11 per carton of Marlboro in 1979 in the Air Force, I now pay $77.90, that is a 7,010% increase in 40 years, that is over 175% ANNUAL average inflation. That must qualify as hyperinflation, and 100% of the time the response is “quit smoking.” Talk about totally irrelevant. They were paid for in US dollars then and they are today, same exact product, the only difference is the price.
If you do a similar comparison of all items for sale you will find a few instances where such games as hedonics and substitution can legitimately be applied, but nothing like the games the BLS is playing with the raw data.
Good Advice. As in any investment, the timing and the buy point (price) determines how much profit, if any can be realized. Since peaking in 2011, precious metals have just been trading in a range. They can be very volatile. Remember, capital gains if any, are taxed at the fixed collectible rate of 28% regardless of your tax bracket. So, its not profitable to trade in most precious metals, paper or physical. However, some gold can be a good insurance policy but no guarantees there either.
I paid about $15.00/ounce for a 1/2 bag of junk silver in Aug. 2014. Its may be some time before it is more valuable. Kathryn Austin Fitts often jokes about gold: “You can always bribe the right border guard if need be”.
As an aside, Harry Dent recently changed his view on gold and now believes that gold has already bottomed around $1050/ounce in Dec. 2015 and basing around $1200/ounce. He has now moved-away from his earlier opinions of gold going down to a low of $800/ounce. He really can’t tell where the price will go. If you buy gold or silver, its a speculation. Unless the price is heavily discounted, I would not want to go all-in at these prices. Harry Dent thinks the next bull market in gold and silver will be around 2038 A.D. – 2040 A.D. where gold may go as high as $3000-$5,000 an ounce at the next peak. Problem is, we won’t likely be alive at that time. Next generation ?
Economist Martin A. Armstrong also thinks later rather than sooner but does not give firm dates for a bull market in gold because its impossible at this juncture. All depends on public confidence in the system. People’s moods are very fickle too. Not reliable.
Looks like the “Powers That Be” are anticipating a (future) crisis of some kind. Venezuela just debuted the “Fatherland” (I.D.) Card to keep track of every individual’s whereabouts and various social, financial, and political activities. This National I.D. Card was developed and first used in China. Now, its being exported to Venezuela. ( China exports totalitarianism ).
This could be OUR future in 10 more years or so. Democrats will undoubtedly like. Scary. No place to run, no way to hide.
https://www.texasstandard.org/stories/venezuelas-fatherland-id-card-raises-privacy-concerns/
If the Feds were to bail out everyone, you might want to check out the Chicago Plan. I think such a move is likely. Trump is already blaming the Federal Reserve for raising rates too fast and slowing the economy. I could see punishing the Fed in the next crisis by nationalizing the money supply (and possibly the Fed as well.) Then the government would spend money into existence rather than borrow it into existence.
https://www.zerohedge.com/news/2018-06-23/final-assault-war-cash
https://www.imf.org/external/pubs/ft/wp/2012/wp12202.pdf
https://steadystate.org/nationalize-money-not-banks/
In the short term a crisis may occur and a bank holiday, then implementation of the plan. The result would be temporary improvement and temporary prosperity. In the end, it is like giving congress a blank check which will result in hyper inflation, and collapse.
The next bank holiday and Chicago plan implementation could happen as soon as next spring or summer at the rate things are going.