World is Comfortably Unaware of Approaching Disaster – Andrei Polgar
By Greg Hunter’s USAWatchdog.com
Best-selling author of “The Age of Anomaly,” economist Andrei Polgar, says the world is set up to be blindsided in the next financial disaster. Polgar points out, “Right now, after so many years after the ‘Great Recession,’ not only are people comfortably unaware, but even worse yet, the entire idea of financial preparedness has been discredited. I have noticed this because I have been on many shows promoting my book. . . . People are not that interested in financial preparedness. A common element was always this: People have made predictions, and they didn’t pan out. Other analysts have made gloomy predictions, and they didn’t pan out. So now, the general public has essentially been numbed. One of the big issues I talk about with my book is sustainable financial preparedness, and it’s a tough sell. It’s a tough sell because people are even worse than just ignorant in an uncomfortable way; they are downright dismissive with anything that has to do with financial preparedness. So, on top of all the problems with our economy, and on top of all the political issues you are well aware of, we also have this general state of not even apathy, even worse, contempt . . . of financial preparedness in general.”
Polgar says, “Market crashes are cyclical. Of course, we are going to have one, and I am not afraid of the idea of a market crash. I am afraid of what happens when the chain is broken or, to put it differently, when the status quo no longer works. . . . Your readers comment about being comfortably ignorant. That makes perfect sense. People have in their mind, yeah, there is going to be a crash, but central banks and governments will have it all under control.”
Polgar predicts, “The next crash will be the worst the world has ever seen . . . because problems have kept accumulating. Now, we have come to accept the unsustainable as status quo. We look at the GDP ratio of Japan that is over 200% and we say it’s all fine. We look at Italy with 130% debt to GDP and say it’s fine. We look at France, Belgium and the United States with debt to GDP at around 100%, and we say it’s fine . . . they’re going to do more of the same and hopefully that’s going to work. That’s what keeps me up at night. What happens when that chain breaks? . . . . If things are this bad right now when, for better or worse, nothing is burning, what do you think is going to happen when we are going to have to deal with all our problems, when we have to deal with the unsustainable nature of our system? Things are already unbelievably bad here in Europe. We are buried under excessive bureaucracy. We have, for the most part, a pretty spoiled population, and this is true for other Western populations. . . . In Romania, at least we understand that sometimes systems fail, whereas in the Western world . . . way too many individuals are just getting by as it is. They are overly indebted. They are overly dependent on the system functioning flawlessly. If a small crack appears, then these people will not be able to cope with it.”
In closing, Polgar says, “The system will break from bottom to top. . . . As bad as things are in the Western world, I see much more pain initially in emerging markets. . . . Developed countries like the United States will be the last to fall. . . . The baseline scenario I am afraid of is . . . having our usual market crash followed by a loss of confidence of central banks and governments to keep it under control. To simplify it, we will have deflation first followed by a loss of control that ultimately leads to an inflationary spiral.”
Join Greg Hunter as he goes One-on-One with economist Andrei Polgar, the best-selling author of “The Age of Anomaly.”
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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.
So the question is will we still call all this global chaos and financial destruction just another “Recession”? Let’s hope not becuase what happened in 2008 was not your normal everyday run of the mill, “recession”. Was it even a recession, I doubt it, not when youth unemployment in parts of Europe runs between 30-50% and according to John Williams from Shadowstats.com the real unemployment rate in the US is in the 20-26% range when you factor in the 90 million plus who gave up looking for work.
Greg, I like this kid, great job.
This guy had one of the best interviews I’ve seen…I will follow him more, thanks
Refreshing interview Greg. Thumbs up!
As long as Central Banks, fractional reserve banking, and fiat currencies exist; we are all slaves.
Figure it out.
I’m done with this shouting into the darkness. End the FED! End fractional reserve banking! Bring back sound money! Or it is all just noise.
Many “Black Swans” will arrive in the same time frame.
The “Big Reset” will be upon the world.
Currency must continue to flow into the financial system faster than the demand for it expands. Because the maintenance of asset values is the KEY for the present system of debt to continue.
It is the financial system of credit that enables modern logistics. This “just-in-time” delivery mechanism depends upon letters of credit to operate. The reset will bring a catastrophic discontinuity. The global credit system will cease to function.
The cities have 3 days of food supply in the system. After that? Its Mad Max.
No point in starting a new post,you said it in plain english and right in your progression to mad max.
I’m comfortably prepared and numb to reality.
We are totally dependent on everything working in a perfectly synchronized fashion. We are truly unaware: shockingly naive, smug in our own normalcy bias, and unprepared. We have everything… thus, we have everything to lose, which will make the fall even harder. We mistakenly put faith in government, the same institution that got us in this predicament to begin with.
Quote of the Day: “Every step and every movement of the multitude, even in what are termed enlightened ages, are made with equal blindness to the future; and nations stumble upon establishments, which are indeed the result of human action, but not the execution of any human design.” – Adam Ferguson
Great guest and fascinating interview.
David – Correct you are Sir
The majority of the population continues to be paralyzed by normalcy bias, cognitive dissonance, and the propaganda from those in power.
A very rude awakening awaits.
OutLookingin … as you say: “the majority of the population continues to be paralyzed by normalcy bias, cognitive dissonance, and fake MSM propaganda disseminated by those in power to keep people asleep” … therefore most people are likely going to be ill prepared when the time comes … so it is up to “those who are awake” to take action “now” to prepare their local community to work together so as to maintain stability during a major economic event … talk to your neighbors “now” … discuss what the community can do together in the event the grid goes down or food supply chains are broken (make sure every neighbor in your community is on board) … this will make the Nation as a whole much stronger and less likely to fall into a “Mad Max Situation” where everyone out for himself … the Deep State is always eager to use any dire situation to prey upon society and consolidate their power … so it is up to “awake individuals” to talk with their neighbors and make community preparations “now” … like where chicken coops can be set up to provide eggs for breakfast … how water can be distributed from those who have wells … or make electricity available for common use by those who have solar power … discuss “now” how vacant land in parks, etc. can be planted with potato’s and arrange for guards to be posted to protect theft of community property (like vegetable gardens, etc., etc.) … for once events unfold … it may be too late to come to common agreements or to mutually work together to acquire what the community as a whole will need in quantity for their families … so plans should be made “now” to organize and work together … hammer out “strategic emergency plans now” … otherwise whatever each individual has currently stored away when the event unfolds is all that individual will have for the duration … better that individuals focus on common efforts and work together on community preparedness “now” … which will offer everyone “a better chance” at survival!!
It can get very bad … even with a community of like minded individuals … as you will eventually run low on ammo keeping the hoards away … so consider making “bows and arrows” … and perhaps chop up some of the kill from the night before to leave as “food” for the new invaders who will come for what you have the next night!! … https://www.zerohedge.com/news/2019-01-16/defending-venezuelan-homestead-eventually-people-will-come-what-you-have
You are right but I fear what Andrei said… people are downright dismissive and hold contempt…this is no easy task, but try it we should.
Adam … at least we still have our guns … the people struggling to survive in Venezuela had their guns confiscated … https://www.zerohedge.com/news/2019-01-17/how-gun-control-became-instrument-tyranny-venezuela
Time to get an Aussie on the show please Greg.
Professor Steve Keen?
I’m keen on that Tone!
Extreme Weather and Earthquake’s in the Colonies
Say it ain’t snow: 2 winter storms, then an Arctic blast from the ‘fractured’ polar vortex
Doyle Rice 1 hr ago
https://www.msn.com/en-us/weather/topstories/say-it-aint-snow-2-winter-storms-then-an-arctic-blast-from-the-fractured-polar-vortex/ar-BBSixii?ocid=spartandhp
Stay indoors: Warning issued as Australia’s heat wave hits record highs
By Helen Regan and Ben Westcott, CNN 4 hrs ago
https://www.msn.com/en-us/weather/topstories/stay-indoors-warning-issued-as-australias-heat-wave-hits-record-highs/ar-BBSj6Nc?ocid=spartandhp
4.7 magnitude earthquake reported off coast of Ocean City, Maryland
Sara Swann 8 hrs ago
https://www.msn.com/en-us/weather/topstories/47-magnitude-earthquake-reported-off-coast-of-ocean-city-maryland/ar-BBSix6N?ocid=spartandhp
I wonder if a lot of people also think/ask – so what do I do to prepare? When they get an answer, they are skeptical that the person providing the gloomy prediction and an answer to it is just running a scam. Having said that, what does one do to be financially prepared?
I think Andrei suggests that you must decide what is best for you in several different circumstances.
Obviously everyone is dufferent
You consider things and do the very best you can
Scott … Say you have a lot of credit card debt right now … and it is impossible for you to pay back your loan quick enough (to be free of any obligation to the banksters before the crash hits) … one thing you can do to be financially prepared is go negative fiat dollars (that is max out your credit cards before the economic system goes bust) … then if all banks go bust in the coming crash (and are not around to collect the debt you owe them) you will be well ahead of the game … however you should use some of your maxed out borrowed money to buy gold and silver (which will likely rise 10 fold) just in case you have bad luck and the bank you have to pay back survives … as the gold and silver you buy will most likely be worth many more times more then your entire loan!!
When gold reached it’s high at $1923 … India then placed an import duty on gold purchases … and the price of gold collapsed … now that gold has reached it’s low at $1045 … India is about to remove it’s import duty on gold purchases … will the price of gold rocket upward? … we will soon see!! … https://gracelandjuniors.com/wordpress/wp-content/uploads/2019/01/2019jan15gold3.png
You know … most people don’t realize just how cheap gold currently is … anyone who bought an ounce of gold when it was $34 dollars back in 1934 … and held it for 85 years … and sold it today at it’s current price of $1295 would have made 38 times there money … but … since the current dollar is now only worth 2 cents compared to the 100 cents of a 1934 dollar … those 1295 dollars you just got for your gold (now worth only 2 cents each) … means the real inflation adjusted price you just got for selling your gold is $25.90 … so after holding an ounce gold for 85 years and selling it now … means you would have taken a loss of $8.10 on your ounce of gold (a loss of 23.8%) … so anyone buying gold today is actually buying it cheaper then if you bought gold back in 1934 (85 years ago) … but compared to the US paper dollar gold was still a good investment because it only lost 23.8% of its value while the US dollar lost 98% of its value!!
Now as everyone knows I’ve been buying nickels to hold “as cash” rather then paper dollars … people don’t like nickels because they weigh a lot and are burdensome to store … but consider the benefits … the current melt value of a nickel is 0.0365795 cents … so a dollar’s worth (20 nickel’s) today is worth $0.73159 cents (compared to the 100 cents 20 nickel’s were worth back in 1934) … so a dollar’s worth of nickel’s has taken a loss of 26.84% since 1934 … only a few percent less then what gold lost (23.8%) … so those people who can’t afford to buy gold and wait 85 years to lose 23.8% of your money … should seriously consider buying nickels … buying nickels today is highly advantageous because the current US dollar (that is only worth 2 cents) can still buy you 20 nickels (with a total melt value of $0.73159 cents for your 20 coins) giving you an immediate profit of 36.58 times your money or a 3658% gain on your money in one day (that is like an annualized gain of 1,335,170% on your money) … for gold to give you 36.58 times your money it would have to be re-set to $47,371 dollars in one day … so why wait for gold to be re-set … simply turn in your paper “debt IOU” dollars and hold on to the pocket change (ordinary Jefferson nickel’s)!!
Now … I know what everyone is asking … what about silver? … well back in 1934 an ounce of silver was worth 0.34 cents … today it is worth about $16 dollars (but since today’s dollar is only worth 2 cents) … the inflation adjusted price of silver today is 0.32 cents … so silver only lost 2 cents over the last 85 years (or only a 5.9% loss compared to golds loss of 23.8% and the Jefferson nickel’s loss of 26.8%) … so as Jim Sinclair says: silver is gold on steroids … silver is your best buy today, then comes gold, then comes Jefferson nickels!!
So poor men buy Jefferson nickel’s … men of modest means buy gold … but rich men (or soon to be very rich men like USAWatchdogers) buy silver just like JP Morgan Chase!!
To truly comprehend the utter magnitude of the colossal theft the Fed banksters have perpetrated upon the American people … I’m going to repeat myself : Anyone who bought an ounce of gold when it was $34 dollars back in 1934 … and held it for 85 years … and sold it today at it’s current price of $1295 would have made 38 times their money … but … and here is the rub … since the Fed made the current dollar now worth only 2 cents (compared to the 100 cents of a 1934 dollar) … the 1,295 Fed paper dollar notes you just collected for your one ounce of gold (each now worth only 2 cents each) … means the real inflation adjusted price you just got for selling your gold today is $25.90 … consider in your mind the unbelievable magnitude of the Fed’s theft … after holding an ounce gold for 85 years and making 38 times your money … selling it today … gives you a 23.8% loss off your purchasing power!!! … think it is time to end the Fed and send the evil banksters to GITMO to be hung for treason???
But guess who the banksters hung instead 2000 years ago (Jesus Christ) and who they shot (Lincoln and Kennedy) … because these men wanted a fair and just monetary system and Jesus simply overturned a few of the banksters tables!!
Paul . . .,
Your numbers are different from mine and yield the opposite conclusion about gold:
https://www.usinflationcalculator.com/
http://www.onlygold.com/m/Prices/Prices200Years.asp
Paul . . .,
Don’t forget to put the right years in the calculator that I’ve provided.
Nickle is an industrial metal, not a precious metal. As industry declines, so will the need and value of your nickel.
In high inflation fiat currencies, the first things that go away are coins. It these environments, first the one unit fiat notes become lowest change, then tens, hundreds, thousands… you get the picture.
A nickle is only valuable because the store clerk will give you something for it. When they stop accepting it, you will not be able to find the average store that will trade food for the melt value of a non PM coin. As a matter of fact, early in the crash, you will not be able to trade PMs except with dealers and well positioned people.
I know there is a group of people that think because the US Treasury issues coins they won’t be effected by the decline of Federal Reserve Notes. Even the coins issued by the Treasury are fiat. You will never get close to any melt value as it will be so costly to actually refine the base metals to purity that it isn’t worth the effort.
Plus, being based on being 1/20th of a Federal Reserve Note, people have the mind set that a nickle is almost worthless. You will not be able to overcome this mindset.
Just my two cents and worth less than its melt value.
For a currency to work, it has to have wide acceptance as a store of values. In my humble opinion, that isn’t our modern coinage. In my opinion, you will not be able to overcome the built in inertia that small change is worthless. Take 400 nickles and get a Silver Eagle or pre64 silver coins.
GALAXY 500,
I had leaned toward small caliber ammunition as a likely unit of exchange. You’ve now convinced me that an accurate scale and pre64 silver coins (dimes especially), are a really good choice. And if worse does not become worst, they can still be fairly easily sold.
William Stanley is correct … gold was $35 dollars in 1934 … not the $34 dollars I used in my calculations (however it doesn’t make a big difference to the calculations) … as for the inflation calculator provided (that uses Government CPI data that is highly manipulated) … I simply don’t trust it!!
paul …,
I’ve got to agree with your point about the CPI being manipulated. But so, also, is the price of gold, IMO. So, where does that leave us on a going-foward basis?
Billionaires with billions in paper dollar debt notes from the Fed (otherwise known as US dollars) are for the first time in their lives “getting out of these debt instruments” … to buy gold … https://www.zerohedge.com/news/2019-01-17/billionaire-investor-sam-zell-says-hes-buying-gold-first-time-my-life
Fantastic interview. Greg, Andrei is a very good guest, very articulate and I look forward to hearing from him again.
Lo Iyrah!
Shalom,
CC
Greg,
Pardon me for my obsession. This is important.
https://youtu.be/6tyjnnJRYMI
Let’s summarize.
– carriers returned to home ports.
– troops being called home.
– construction crews sent to Gitmo.
– two company’s of military police sent to Gitmo
– two prison barges sent to Gitmo
– homeland security issuing an alert.
– Northern Command Emergency personal linking preparations and training with local and state law enforcement for an emergency.
– military units training for civil unrest, and urban warfare.
– the EAS system being linked with all the major cell phone companies in October.
– EO signed restructuring military court martials on 03/01/2018
– EO signed extending emergency status for twelve months on 12/31/2018,
– Brent Cavanaugh seated the Supreme Court in October.
These are just a few of the points I know of that can support the hypothesis that we are on the cusp of a major event in this country. Before you comment, do the research the way I have and you will find that there is plan going forward that will substantiate these facts,
–
–
Now in effect.
https://www.army.mil/article/215594/2019_brings_changes_to_military_justice_system
Slowly we crept . Step by step.
https://www.zerohedge.com/news/2019-01-16/federal-judge-orders-rhodes-rice-other-obama-officials-respond-over-clinton
This just gets better and better.
https://thehill.com/opinion/white-house/425739-fisa-shocker-doj-official-warned-steele-dossier-was-connected-to-clinton
For those looking for quick justice, I am often reminded from the native side of my heritage, that justice is sweeter when it is served one bite at a time. Say what you want about the Donald, but his approach to detail is very methodical.
Jerry,
You are correct sir, this is important!!
Greg
Drum roll please.
https://files.catbox.moe/vssz36.jpg
According to http://www.courts.com the Federal Courts will run out of money on 01/26/2019.
Here are more links.
https://www.usnews.com/news/best-states/maine/articles/2019-01-14/federal-courts-in-maine-to-run-out-of-money-this-week
Jerry,
Thanks!
Great interview! Mr. Polgar just describe virtually all of my family. I am so old that I remember people saving so much every week from their pay checks for the long-term; US Savings bonds, then CDs, later IRAs and 401ks. I don’t see that in today’s generation. The are narcissists just living for today, with zero financial discipline. If they want something they borrow money. Sadly many of their parents/grandparents subsidize and enable their children’s poor choices. Yes Mr. Polgar, we have a ‘spoiled population’. A rude awakening is coming for all of us, but especially them.
Dear Gregg: 16Jan19
Thank you sir, for all your good work. I found the interview with Andrie Polgar very interesting. I find a point of view from Central and Eastern Europe to be particularly interesting. These people have been through a lot and seem to more appreciate the values of freedom and democracy. Keep up the good work.
You do not have to post this correspondence. I have another suggestion for you to interview. This too is a Romanian who seems to be on “our team”. His web site is https://www.youtube.com/channel/UCU-j4uuM70znbqYLORLp9NQ/featured “Freedom Alternative”. He is very well informed on things European as well as other areas. He is very anti communist, pro capitalist, pro limited government and pro free speech. He is trying to educate the people of Central and Eastern Europe as to the problems of the West and is trying to get people to take action. He is struggling and you might be a big help to him and to our common cause worldwide. If you do happen to have him on your show, ask him to put on a better looking shirt.
Again, thank you for all you do.
Ray J. Price
Great interview! Andreis advice to invest in yourself, try to prepare your best and expect the unexpected. Liked hearing his stories of person acomplishment/trials. Humility
You know … many people hoard currency … because they are told that to prepare the best is to “get out of debt” … but you could look at things another way … for isn’t hoarding bankster currency (fiat money) simply hoarding “debt IOU’s”??? … so to really actually “get out of debt” … shouldn’t one be getting out of the Fed’s fiat notes and instead buy real things (like food, silver, etc. with it) … what the American people do to get out of the fiat debt notes the Fed creates (US dollars) is use credit cards to buy “real things” with dollars they don’t own (which is really pretty sneaky) … because when the banksters monetary system collapses (like in Puerto Rico when all those holding notes lost everything as the debt just disappeared) … Americans will be left with the “real things” they bought on credit … which can then be used to barter with … to survive … it’s sort of like taking out a loan to buy income producing property!!!
Thank you Greg for having on this guest! I truly appreciate souls who grew up poor and in Romania that means dirt poor! Andrei is on the mark when he said:
“For the love of God don’t be a one trick pony!”
Father’s word teaches Christians to be a “two trick pony” when it comes to money:
1) Stay out of debt unless you like being a servant to the rich:
Proverbs 22:7 The rich ruleth over the poor; And the borrower is servant to the lender.
2) If your a rich Christian who wants to go to heaven Jesus has some advice for you:
Luke 18:18-30 And a certain ruler asked him, saying, Good Teacher, what shall I do to inherit eternal life? (19) And Jesus said unto him, Why callest thou me good? none is good, save one, even God. (20) Thou knowest the commandments, Do not commit adultery, Do not kill, Do not steal, Do not bear false witness, Honor thy father and mother. (21) And he said, All these things have I observed from my youth up. (22) And when Jesus heard it, he said unto him, One thing thou lackest yet: sell all that thou hast, and distribute unto the poor, and thou shalt have treasure in heaven: and come, follow me. (23) But when he heard these things, he became exceeding sorrowful; for he was very rich. (24) And Jesus seeing him said, How hardly shall they that have riches enter into the kingdom of God! (25) For it is easier for a camel to enter in through a needle’s eye, than for a rich man to enter into the kingdom of God. (26) And they that heard it said, Then who can be saved? (27) But he said, The things which are impossible with men are possible with God. (28) And Peter said, Lo, we have left our own, and followed thee. (29) And he said unto them, Verily I say unto you, There is no man that hath left house, or wife, or brethren, or parents, or children, for the kingdom of God’s sake, (30) who shall not receive manifold more in this time, and in the world to come eternal life.
Please pay close attention to how the apostles ran the first church after Pentecost:
Acts 2:42-47 And they continued stedfastly in the apostles’ teaching and fellowship, in the breaking of bread and the prayers. (43) And fear came upon every soul: and many wonders and signs were done through the apostles. (44) And all that believed were together, and had all things common; (45) and they sold their possessions and goods, and parted them to all, according as any man had need. (46) And day by day, continuing stedfastly with one accord in the temple, and breaking bread at home, they took their food with gladness and singleness of heart, (47) praising God, and having favor with all the people. And the Lord added to them day by day those that were saved.
The church has moved far away from those principles of true love but Father will move His “elect” back to them in their wilderness during the tribulation:
Revelation 12:5-6 And she was delivered of a son, a man child, who is to rule all the nations with a rod of iron: and her child was caught up unto God, and unto his throne. (6) And the woman fled into the wilderness, where she hath a place prepared of God, that there they may nourish her a thousand two hundred and threescore days.
Prepare accordingly:
https://sumofthyword.com/2017/02/17/usward/
Hamburger Heaven
_______In___“The Age of Anomaly”
https://www.msn.com/en-us/sports/ncaafb/clemson-qb-trevor-lawrence-calls-out-fake-twitter-quote-praising-fast-food-at-white-house/ar-BBSilUh?ocid=spartandhp
Greg; A good discussion of the problem with no solution, no discussion on how to increase real wealth in the economy. Financial economists are a different breed they deal with money flows, banking sorcery (the invisible hand) and fiat fallacy, outright speculation and theft from the people, at the expense of the real physical economy. The creation of new wealth is accomplished by Physical economists, economics is physics, physical input (plant, equipment, machine tools etc. and investments there in threw a credit system not a fiat system) equals an output in new wealth, without speculation. The writings of Mathew Carey, Henry C. Carey and Lyndon H. LaRouche Jr. deal with physical wealth creation and physical production. Glass-Steagall, low interest long term credit issued by the U.S. Government, create a national development bank and a commitment to fusion electrical generation, a space program to advance technologies are what is demanded, if we are to indeed survive this crises.
Greg,
Mr. Polgar is a very interesting guest. The idea of being able to land on you feet and keep going even if you lose practically everything is a new one. I also like the suggestion of humility because we really don’t know the final outcome of a crash scenario, so we need to stay alert and not assume our preparations will always work.
His own personal story of how he always saved every dime he could, and he still lost it all because of family circumstances shows how we never know. As you always say, “Fear not; God the Father and His Son, Jesus, are firmly in charge.” That must be our bottom line.
Thanks for always having thought provoking guests. You have a wonderful program.
Greg,
Great interview with Andrei Polgar. Many years ago, I had the pleasure of working with a Romanian woman who had recently immigrated to the USA with her husband. She was a techie and he was an architect. She started her own IT Consulting firm and he passed the architecture exam here in the USA on his first try (in English, his third or fourth language!). Both did very, very well. We became really good friends. At one point we were discussing the education system differences between the USA and Romania (under Soviet influence at the time). What she told me was that in the USA we are, primarily, taught to memorize (important occurrences, dates, names, places, etc.) but that in Romania they were taught HOW TO THINK (to analyze and problem solve). Andrei’s take on things and how he “got to” his point of view, very much reminds me of me old Romanian friend. We have much to learn. Our education system, by and large, sucks.
It’s going to be hard to think for ones self … if you can’t find truthful information on an internet controlled by this commie … https://www.zerohedge.com/s3/files/styles/teaser_desktop_1x/public/2019-01/google-e1547648561243.jpg?itok=R7LEOWSx … who is now manipulating your search results to change your behavior!! … https://www.zerohedge.com/news/2019-01-16/google-manipulated-youtube-search-results-program-users-behavior
In a few words: Succinct (clear), Practical and very timely.
A fresh voice with excellent advice.
This Man is a true find, thank you Greg, we can all benefit from Polgar’s information.
One thing though, bitcoin is more effective than gold pertaining to a non-confiscatable cross-border asset, however you still need an Internet connection and the other party to know what it is and how to derive value from it. I know about atomic swaps and smart contracts but the technology is still new and largely unknown. Gold is understood by everyone, well hidden gold is better than bitcoin where there is no ledger to divulge how much you have. Just my 2 Satoshis.
Thank you again Greg
Andrei Polgar says: “The world is set up to be blindsided” … but almost everyone knows a financial disaster is coming … what will really be blindsided by … is a “false flag” Alien Invasion by ET “greys” (that the Deep State is now manufacturing “like sausages” in their Deep Underground Laboratories) … and they plan to put into their Deep State manufactured greys into Deep State manufactured flying saucers … and “Fake an Alien Invasion” … so the Deep States newly created “Space Force” can then fight “continual wars in space” allowing these gang bankster parasites to continue to screw Trillions out of the American “herd of sheep taxpayers” … who will be easily panicked (like in 1918 into forking over Trillions and sacrificing their children’s lives To Save the World for Democracy) … this time around the American people will be duped into sacrificing their money and children “To Save the World for the Neocon/Commie/Fascist Warmongers”!!!
You know … we were given fair warning by Ronald Reagan years ago that the Deep State likely had in mind using a “false flag alien attack” in order to further their One World Order (as the Deep State Shadow Government has always used “horrific wars” repeatedly over the last 100 years to terrorize and destabilize nations world wide to consolidate their power) … however now it seems both Russia and China are on to the Deep State … and are refusing to be drawn into a hot WWIII … so let’s hope people worldwide will be just as wise … and reject a Deep State “staged war waged by extraterrestrial invaders” as being highly implausible and utterly ridiculous … as aliens have been trying for centuries to guide mankind toward “a higher moral consciousness” (i.e. the Ten Commandments, etc., etc.) … most people were not fooled by the CIA-directed “Hollywood production” they ran on 9/11 … nevertheless it does not mean Deep State won’t still try their “false flag alien shenanigans” … for they have become more and more desperate as Trump now puts the screws to them!!
It’s good that Trump is preparing a counter weapon to shield every city … that can be used to shoot down any Deep State’s flying saucers flown by their cloned “Greys” (they are currently breeding like sausages at their underground bases) … just in case the Deep State ever dares to use them in a “false flag alien invasion scenario” to garner American public support for a New World War!! … https://www.zerohedge.com/news/2019-01-17/trump-says-space-new-war-fighting-domain-plans-missile-sensors-shield-every-city
The only thing being breed like sausages [sausage isn’t breed] is stupidity among the masses.
Question. Do you think the Chinese Communists, The Hindus or the Russians, nuclear powers all, will go along with a plan to diminish their power?
I don’t see them going along.
Great interview!!! Thank you!
I really like Andrei!
What an interesting young man!
Thanks for this interview Greg.
I will be following him.
Thanks! I agree Diane!
Greg
What he says! for about 3 years now I’ve been saying to investor friends, never put all your eggs in one basket. Even though I am relatively poor, I have some cash, some silver, some crypto, plenty of firewood in the barn, plenty of food in the pantry, medicines stored, large garden with fruit trees, veggies and herbs, chickens, Rabbits, dogs and cats. Above all, I am everyday thankful for that which God provides.
I think you got it Margie!! Thank you for sharing.
Greg
You have helped me with this, I assure you! I have really buttoned in my ear the end message of your Friday summaries! 🙂
This makes me happy Margie!! Thank you.
Greg
Margie:
You are living a very rich life!
I have family members that are very rich financially that are living very poor lives to the extent that one recently committed suicide and that is a pity.
I believe in focusing on living a rich life and not being rich.
At the end of day(life), it is what you experienced in life – not what you built in wealth.
Be well and live rich!
Sayonara, I so agree with you! I actually feel incredibly rich even though I don’t have as much money as some friends and family, many of whom have huge overheads and don’t really own their homes and other things (mortgages and credit). They all work very hard, but don’t have a chance to enjoy the sun rises and sunsets, or a soft breeze in the sunshine, or a gorgeous dragonfly hovering over a flower, or the purring of a cat on your lap.
Margie, “Invest in things that keep you warm” living in Canada I always keep a two year supply, six cords of wood on hand, as it is our primary source of heat, and during a emergency can be very hard & expensive to get.
Keep doing what your doing, “Investing in yourself”
Great guest. Please have him on again. I would be interested in hearing his views on any variety of subjects. A very well inform young man.
Amen to that!
So Greg and doggers, Here on the homestead we strive for redundant systems … for example we have multiple water sources which are three drilled wells, one of which is shallow and supplies 100 gallons per minute, in addition we have multiple seasonal springs that are tied into our gravity fed cistern system. The reasons for this is not only for the end of the world scenario but where we are the power goes out on a fairly regular basis and we have a 1200 gallon cistern that supplies 30 pounds pressure to the house which is plenty of pressure to run our instantaneous propane hot water heater. So when the power does go out we still have a hot bath !! In addition we have a Grundfos SQ Flex pump in a Faraday container that can be operated direct from solar panels with no interface. This is only one of the redundant systems that we have built and the purpose of this post is to suggest to readers that we can do something to prepare and get ourselves independent of systems that without which we will die. Yours in Faith and Liberty, FN, DB
Greg, We are in agreement that at the outset of this interview we were unsure of the direction and value of your guest … but … Mr. Polgar displayed great humility and value, Thank you. I do believe that Mr. Polgar has read my book!! I have maintained that we must lead with humility and contrition; honesty is paramount. Again thank you Greg for having Mr. Polgar on the program. DB.
Thank you DB. I always take a chance when booking a new guest. This one paid off big.
Greg
Greg,
This is the best interview you have put forward lately. Finally somebody that tells us what’s is going on. The world is asleep! Remember, we are the idiots that have voted for these crooked politicians! The question remains, when does the world wake up?
Humility. I have never heard that word in an economic discussion before. An interesting point to bring up. I have been humbled by hardship, uncertainty and fear during the course of my lifetime. It has taught me to see things for what they are, and not the way I want them to be. This has been an advantage in many ways. I am quicker than any of my friends and family to react to perceived trouble. I have been called a bullheaded bastard, but I get things done to confront perceived problems. I don’t need approval to pursue answers and take action.
I enjoyed this discussion with Andrei. I too, am a hands on type of person. I appreciate that perspective. I also feel like I’m channeling obama. I never say I, this many times in a single post. Will try not to, ever again.
Hi Greg
First I really appreciate your videos and the guests that you have on your show.
Specifically, I’m a little fuzzy What & how Deflation effects us as citizens. I understand that prices go down; ie RE, produce etc; however, what the effect on Mortgages etc that are fixed. Perhaps a guest could go into detail the various ways one can protect themselvees.
I understand Gold & sliver will provide a base for recovery; however, are there additional hedges that I, and many people are not aware of. Plenty of discussion on hyper inflation but not much on De-flation.
Thanks Greg
Skip,
In simple terms deflation is debt destruction. Think of that $74 billion in bond debt that Puerto Rico defaulted on in 2017. Those bonds are worthless and destroyed. Prices go down because there is less cash is available because the debt ball of cash is gone down the drain. Now spread that thought out to the bond market. Lots of debt could be destroyed or defaulted on in a meltdown. This is the very simple answer.
Greg
Good interview Greg
Interesting guest with a European perspective.I am a retired business owner. I have personally done what he his talking about & end up dealing with a corrupt dishonest stock market . Rentals where the tenets have more rights the the property owner. I could go on & on. Maybe the legal system backs property owners better in Romania than Southern Michigan . It would be nice if you can have him back on 4 months out to see how his perspective changes.
“The markets can stay irrational longer than you can stay solvent .”
Ya mean rigged – suppressed – manipulated… once you understand that. It all makes sense the markets are corrupt & not honest he does not address that . Yes bad things happen BUT he ignores the built in fraud & corruption.
“What should people in the US be worried about ?
You should worry about what ever it is that could weaken your country so that in the end it could be weak enough to be a burden “candidate” for hyper inflation ‘
LIKE an invasion of 3rd world trash from the middle east & from south of the border courteously of the chuck schumer’s & gerorge soros’s of the world ?
What a treat to hear this man. Thanks, Greg.
Markets can be irrational for an extended period of time? Markets can be manipulated for an extended period of based on an agenda that may be rational for the manipulators.
What a breath of fresh air; predict nothing and stay humble.
Mr. Hunter,
Thanks! I’m reading his book now.
Greg,
Most economist that anyone interviews talk above my head. Andrei Polgar did not. He was thoroughly and made it easy to understand especially the Deflation/Inflation scenario. I loved this interview. Your questions to him and his reposes. Plus I was educated. This is one of the best if not THE BEST economic interview you’ve done in my opinion. Great Job and THANK YOU!
Ken
This guy Mr. Polgar is brilliant, and he got that way by having
to go through the hard lessons of life. Please have him on again.
Outstanding interview! A humble economist will be listened to and respected. Thank you for having a spectacular new guest! Please consider having him on again!
If the Demonrat Speaker of the House Pelosi does not invite Trump to make his State of the Union Address before Congress … Trump should do it right from the White House directly to the American people … then at least we won’t have to listen to all the “phony applause” we always get subjected to by these “Representatives of Special Interest Groups”!! … https://www.zerohedge.com/news/2019-01-16/pelosi-demands-trump-delay-state-union-over-shutdown
Perhaps Demonrat Pelosi is not inviting Trump to give his State of the Union address before Congress because Supreme Court Justice Ginsburg will not be able to make it … as she is now working from home … https://pbs.twimg.com/media/DwqeHBxVsAEL1gC.jpg
well that just backfired on Nancy, and her colleagues, as now their flight To Davos, just got cancelled by Trump. They were on the ‘bus’ and had to turn around. Trumps’ timing is still awesome.
on the SOTU, Nancy made a large strategic blunder too. Trump, the great entertainer, will now be free to do his own SOTU in front of any favorable audience he wants.
She just got him out of the most BORING event on the planet.
Great find Greg, always good to go outside of the US Whores for Hire when you are looking for an honest assessment of the financial madness. He’s absolutely right, there may never be a “reset” or there may be, it all depends on how much can be stolen by who has enough power to pull one off or not.
When you ask what it is going to look like to the man on the street, consider this. What exactly IS the debt anyway? Well all of the debts are some third party’s investments, right? Like pension funds, hedge funds, managed money accounts, right? So if is all craps out, the first people to see a “loss” will be pensioners, because what can they do once they are ripped off by cry like babies anyway? Pension vaporization will be the absolutely the first thing that happens and you can see it well underway in Detroit, Illinois and New Jersey. Yes the states will borrow and borrow but will have to raise taxes and that is what you will see next, big increases in state taxation. I don’t think the federal government is going to have a problem because as Catherine Austin-Fitts always tells you, they can just pull more money out of their Magic Hat. The feds will only have a real problem if and when other, less than friendly nations stop using the USD completely. That may or may not happen. God our father is not controlling things right now, for He is waiting and watching until it gets to the boiling point, and THEN He will take over and straighten it all out. Keep the Faith Greg, and Praise the Holy name of Jesus.
I don’t know why China is so defensive about Taiwan?? … If China bought up Manhattan Island … and wanted to defend it and Wall Street from the American people living on the mainland … we American’s wouldn’t mind it one bit!! … https://www.zerohedge.com/news/2019-01-15/china-warns-us-navy-chief-will-defend-taiwan-claims-any-cost
Smart guy and he’s right, the market can outlast all of us. Greg you might want to speak to your friend Greg Manarino, he basically has been saying there is no currency reset coming and the market will continue to be inflated with liquidity. Unfortunately I think he’s right.
He is right, Armstrong has projected a panic cycle due next week, could be a severe
correction, however money from Europe is still propping up the market, and US Dollar
as it is still the least ugliest horse in the glue factory.
Amazing new guest!! The last 10 minutes was probably the best, in my humble opinion! Great Stuff!! Thank you both!! 🙂 THUMBS WAY UP!!
Kudos Greg,
You allowed the guest to speak his mind but asked for clarification when necessary’ You were both brilliant. I can’t think of a better segment in maybe a year. Way to pull the rabbit out of the hat and please bring him on again soon.
It’s a “tough sell” because the “kid” is late to market.
We’ve had 10+ years of all the best swindlers, hucksters, and carnival barkers SCREAMING as loud as possible that the sky is about to fall. Naturally, they had a PROFIT based motive for doing all their interviews, writing all their “best-selling” books and DVD’s, MP3’s, etc., and holding all their “conferences” – “seminars” – and “conventions”, and publishing their “newsletters”.
So yes, the “kid” is VERY LATE to the market with his message of “doom and gloom”.
Ashame, too. But give him time. He’ll learn.
Remember what PT Barnum said….”NO ONE, and I mean NO ONE, ever went broke UNDER estimating the intelligence of the American public.”
But then YOU know that !
Congrats !
Yo are an idiot Dan and really do not know what is going on. I suspect you are going to be really poor in the future. Go back to sleep. Polgar was talking about people like you when he said this, “It’s a tough sell because people are even worse than just ignorant in an uncomfortable way; they are downright dismissive with anything that has to do with financial preparedness. So, on top of all the problems with our economy, and on top of all the political issues you are well aware of, we also have this general state of not even apathy, even worse, contempt . . . of financial preparedness in general.”
Greg
That was H.L. Mencken Dan.
50/50 rule Dan,
If Greg and I are right and you do nothing…….you die.
If we’re wrong, we have some extra food to eat. Big deal!
By hey, your supposed to be the one with all the brains so don’t worry about it. Greg and I are just carnival barkers.
Good math Jerry. Minor stupidity is painful. Major stupidity is fatal.
We ceded our children’s education and future to a bunch of Luciferians and now we are suffering from that bit of stupidity.
In our defense, it never occurred to us because in our youth, we had great TEACHERS and were taught civics. However, ignorance doesn’t absolve our sins.
We listened to Andrei’s interview twice.
Excellent.
He also speaks English with an American accent. Impressive.
Why is Andrew Weissmann still on Herr Mueller’s Team? 37 million dollars and still counting! Shysters!
https://thehill.com/opinion/white-house/356253-judging-by-muellers-staffing-choices-he-may-not-be-very-interested-in
Greg, Gina’s young girl the president’s supposedly had an affair with, LOL!
What a hoot! To think our favorite spook, has a loose spoke! She must be having a rough ride!
https://www.msn.com/en-us/news/world/model-claiming-trump-secrets-deported-from-thailand/ar-BBSmxUC?ocid=spartandhp
CAIR’s National Outreach Manager Jinan Shbat Is Open Supporter Of Jihadi Group Hamas & Rep. Rashida Tlaib
Will the establishment media challenge Jinan Shbat for her support for Hamas, or Rashida Tlaib for her closeness to Shbat? Not on your life.
Robert Spencer — January 17, 2019
https://freedomoutpost.com/cairs-national-outreach-manager-jinan-shbat-is-open-supporter-of-jihadi-group-hamas-rep-rashida-tlaib/
When Rashida Tlaiban called the president a M. F.er, she was talking to us Americans.
They should send her on a slow boat to Pakistan, then a mule, to a doctor in Afghanistan and give her that operation her boyfriend and Sharia law wants her to have. Cant have it in Dearborn no more, Rash!
“The system will break from bottom to top”
Yep. That is already baked into the system. I have to say I am exceedingly impressed with Andrei’s knowledge and understanding of systems. I am also impressed with his acknowledgement of his limitations and his motivation to put his mother ahead of himself. In my experience in life, those who think they know everything usually know very little and those who think they know very little usually know far more than they realize. Andrei is in this camp. As for knowing what the future holds, he is correct in that it is absolutely outside of human ability to accurately predict things. This is why, as the advice was given, minimize debt, keep life simple and do not put all your eggs in one basket. Be prepared for a wide range of developments. As for what the future holds, I have found the the things written in the Bible to totally reliable. Big things are on the horizon. What is unfolding now was predicted long ago.
Trump not showing up at Davos (along with other world leaders) is predicting what the future holds for the evil elites who have stolen and monopolized the common peoples future to garner immense fortunes for themselves and their criminal cabal … https://www.zerohedge.com/news/2019-01-17/its-reunion-people-who-broke-world-author-explains-why-davos-should-be-cancelled
The only thing wrong with your analysis is that Macron and May are globalist stooges. Macron and May are likely afraid that in their absence, they will lose power.
Macron has nearly unified the Free French citizens to start a 2nd revolution
500,
You may be correct sir.
Greg
Greg,
Loved this interview…a refreshing alternate opinion! Need to take this young man seriously.
Change of subject (albeit late): hope WNW#367 touches on….
I’ll NEVER buy a Gillette product of any kind for the rest of my life. I hope they’re over-leveraged and slide into BK when the bond market implodes ….as some of your guests imply.
Gina’s Favorite Movie?
https://www.youtube.com/watch?v=3fQJCXkSqbY
EVERYONE EVERYWHERE NEEDS TO SEE THIS!
https://youtu.be/3vw9N96E-aQ
Hi Greg,
You asked, “What should people in the U.S. be worried about if not hyperinflation?”, in response to Mr. P’s comment that the U.S. is strong, so our main concern should be to focus on whatever it is that can weaken our country so that in the end it becomes a good candidate for hyperinflation, as history has shown that it is weakened countries that are susceptible to hyperinflation.
Let me add to his answer. What is a clear and present threat that can weaken our country and make us susceptible to a loss of confidence and can heighten our fear of an inability to pay down or manage our debt? The answer…Socialism…the immoral theft and redistribution of wealth, that WEAKENS the productive capacity of a nation.
It is our clear and present danger and this tsunami wave is starting to swell. And it will continue to swell right into the 2020 Presidential election!
Jen,
I couldn’t agree with you more. The educational system has brainwashed the students such that socialism going forward into the near future seems all but guaranteed, unfortunately. During the 2.16 election, the local high school held their own election, and voted in, who else, Bernie Sanders, since he told them they could get a free college education I suppose.
Amen Jennifer!! I agree.
Greg
I will add, even though I am sure that you know this, that the more they steal, (AOS is now aproposing 70% tax rate on the wealthy, who account for the majority of the taxes collected. And Deblasio has offered free healthcare to all in NYC, and he is a possible presidential contender!)….the more they steal from us, “their” American working “herd”, as they believe that they can tax us whenever and for whatever they choose, for THEIR interests and agendas, they impoverish people, especially the middle class. And they will not stop. Enough is never enough. They will continue this process until they have squeezed every last penny out of everyone, until they equally impoverish all, except themselves, in their “Quest for Equality”!
Thus, citizens become disabled to pay off their debts. Large businesses gradually become nationalized and fall into disrepair,. All this as the welfare base grows and grows. “Socialism works until you run out of other people’s money.”. And the money does run out. The tax base dwindles and comes to a grinding halt. During this process the currency declines in value until it reaches a tipping point.
As this outcome becomes more apparent, confidence is lost, and what started as a walk leads to a run on the currency.
Since the U.S. is the largest debtor nation in history, this would absolutely trigger a hyper- inflationary event!
Witness Venezuela, once the wealthiest country in Latin America.
As Donald Trump says, the liberal left wants to make the U.S. Venezuela. It would be great if Trump wins again in 2020, but who will we get in 2024?
These are very dangerous times for our country.
I still believe in something like a series of organized marches on Washington to attract public awareness and the media. ( I brought this up to you once).
Not a Tea Party label. A Pro-American, Pro-Constitutional, Pro-Freedom, Pro-Individual Rights, Anti-Government Corruption,, Anti-Two-Tiered, ANTI-SOCIALIST March. An “In Your Socialist Face” march.
But how to reach and organize a large mass of Conservatives for such a showing? The Right and Conservatives need to be less complacent. They need to be bold. They need to stand in confidence and protect their rights! They need to organize and push back. If not for the fact that my mother has become disabled by strokes and needs my constant care, I would try to organize this!
Well, thank God for Donald Trump…and you…and Dr. Janda.
Regards,
Jennifer
Greg, your guest said: “The baseline scenario I am afraid of is . . . having our usual market crash followed by a loss of confidence of central banks and governments to keep it under control.”
I think for many of us who regularly visit usawatchdog.com), that “loss of confidence of central banks and governments” is already here, is it not? Maybe we (here) are all just a little ahead of the curve, so to speak?
We are not facing a depression; we are on the verge of a collapse of the largest Ponzi scheme that has ever been pulled. Every dollar of deficit spending (inflation) is the principal of an issued (new cash) Treasury security. The obligation is to (eventually) pay the principal PLUS interest. The interest is never created; it does not exist. The collapse of the scheme is procrastinated by issuing more debt and using new principal to pay current interest. It is a classic Ponzi scheme.
It was extended ten years ago with a $700 billion extension by congress. It is again returning but with the primary dealers overloaded with deficit spending Treasury securities they cannot unload at a profit. Ref. https://thedailycoin.org/2018/08/16/a-look-at-the-federal-reserve-through-a-different-lens/.
What is the political action that can be hyped to the public that will result in more deficit spending to extend the above Ponzi scheme ?? ANSWER: Socialism.
Nice post!