Federal Accounting Now Meaningless & Frightening – Catherine Austin Fitts
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts says the federal government made $21 trillion in “missing money,” discovered in late 2017, a national security issue the public is not allowed to find out where the money is. Fitts explains, “There is a big study we published at Solari.com. If you go to the annual wrap-up on DOD and HUD ‘missing money,’ we have a whole piece on FASAB Standard 56, and it explains how it works. Essentially, what it says is there is a secret group of people, by a secret process, that can take a portion of the financial statements on the books and make them secret. You cannot know what a secret is and what is not. So, when you look at financial statements at the Department of Defense, essentially, they are meaningless because you don’t know what has been cut out. When you add this to the other laws that they promulgated that allows them to classify income flows and allow the private contractors and banks freedom from complying to SEC regulations, what you’ve just done . . . is taken the vast majority of the U.S. securities market dark. If I am an investor and I am looking at anything impacted by the federal credit, all the way from U.S. Treasuries, Fannies and Freddies, municipal bonds . . . or the defense contractors and the banks that handle all the deposits of all the government accounts, I cannot know what their financial statements say. It’s meaningless. It’s very frightening what they have done. . . . I would not buy a Treasury.”
Fitts says investing now hinges on one main question, “The biggest problem when you look at investment today is: What is a good investment in a world where the rule of law exists, and what is a good investment when there is no law? There is way too much money going into military, going into war and going into force, and part of it is a real concern about lawlessness. . . . The value of an asset is only good if you can protect it.”
So, what investment is Fitts looking at? She has long been lukewarm on gold, but not any longer. Fitts now says, “The world is choking on debt. . . . It’s not just peak oil, it’s peak everything. So, it is one of the reasons you see margins falling, and we tried to fight it by blowing bubbles. We are reaching the end of that sort of strategy, and it’s one of the reasons you are seeing more and more people become aware of gold and want gold. They are saying, okay, the financial asset bubble game is over, and now we want real things. . . . To me, gold was a core position, and I have always felt that gold was a core position. So, I like gold now. For many years, I said I don’t think gold is going to have a good investment run. I am changing that this year. I think gold as an investment will do reasonably well this year, and it should. . . . Basel III rules are basically making gold more attractive and focusing more on financial soundness. Yes, the central banks and banks are going to be buying, but I think as you see global investors see the extent of the lawlessness, and like the determinations in the U.S. federal credit, they are going to be looking for real assets. Gold is just going to be a place to go. . . . Away from jewelry, you’ve got about a $3 trillion gold market. So, it only takes a little bit of a pension fund or a sovereign wealth fund to increase their gold allocation to run the market up. I think there is going to be a steady drum beat of support for the price of gold for some time to come.”
Join Greg Hunter as he goes One-on-One with Catherine Austin Fitts, financial expert and founder of The Solari Report.
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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.
As an Accountant and MBA Graduate from an AACSB-accredited Business School, I read FASAB Standard 56 when Dr Mark Skidmore discussed the implications. There was absolutely no way, in my mind, that an accountant (let alone the Federal Accounting Standards Advisory Board) would put together such a preposterous Financial Standard that would allow material misstatements, minimally without some form of disclosure. I was appalled when I read this garbage that is being promulgated!
Any Governmental Financial Statements under these Federal Accounting Standards have unquestionably no legitimacy. They are a waste of paper! It is reprehensible that this FASAB Standard 56 exists. It undermines all Governmental Accounting and is an afront to what all Accounts believe: fair and accurate reporting of the financial condition.
Read it yourself: https://files.fasab.gov/pdffiles/handbook_sffas_56.pdf
Sir, WHY are you surprised? It’s GOVERNMENT. Government exists for itself. If you didn’t know it before, you know it now. Best always. PM
I wonder what % of the US population the US govt regards as potential enemies.
I guess the % would be lower if the Democrats were in charge because they don’t fear their own supporters the way the Republicans seem to.
The Republicans fear their own supporters?
You’re using an awful lot of words to “the government lies”.
Thanks, Mark!
Special thanks for including the actual text of FASAB Standard 56. I’ve just given it a quick scan, but the way I read it is as follows:
1. FASAB 56 is the rule . . . UNLESS they secretly change it or make secret exceptions to it;
2. Reporting entities MUST disclose that they MAY be lying, but can’t disclose IF they are lying or HOW they may be lying;
3. Whole portions of one reporting entity (say DOD) MAY be “accounted for” in the reports of other reporting entities (say HUD) . . . but that can’t be disclosed by either entity, nor can the way that it’s done;
4. The aggregate budget MUST be accurately reported . . . UNLESS they secretly decide to falsify it.
WS, I have told people for years that the whole enchilada is corrupt …turn 360 and there is fraud and corruption everywhere so this FASAB 56 just falls right in line. I have a neighbor who is a communist … bear in mind that he would probably deny this with a statement like ” I am more of a socialist” … and my response is something like ” if you want to split hairs, fine but the end result is the same, Tyranny”. So this fellow years ago boasted to me that during Vietnam he was a conscientious objector and spent the war in a warehouse in Fairbanks Alaska sabotaging firearms. The more I dwell on this the more PO’d I get. And … this is the same communist who attacked me because Trump won the election !!
While on the subject of dogs … One of our dogs (we have five !!) is an Akbash, a Turkish livestock guardian dog … we do not have a predator problem and keep in mind that we have coyote; bear; cougar and oh yes don’t forget wolves !! Now if I could only teach her (Sassy) to deal with the communists as well !! Yours in Faith and Liberty, FN, DB.
DB,
I’ve got an idea: Invite your neighbor over to play with the sheep (but don’t tell him about Sassy).
DB
It’s still the wild West here, that’s Mid-West!
We have all you mentioned here in Michigan’s upper peninsula, also home of da “Yooper”, a frequent commentator here on USAWatchdog.com! Including communist’s in Dr. Dave Janda’s, Republica of Ann Arbor! In fact we did have wolf hunt’s until some out-stater’s, decided it was cruel and unusual. So now to the detriment of farmers and rancher’s, the State cant declare open season to help keep the wolves out the hen-house! Yet we still can slaughter the poor bears! It’s also hard to believe we still have Lions roaming here. Cougars, mountain lions. My buddy having recently ran into one snowmobiling. Not literally, but close enough to be scared for his life! By the way Michigan always was and still is an open carry state. In fact it’s been encouraged, in the once murder capitol of the world, Detroit. Now compared to Chicago, is a Shangri-La!
https://www.youtube.com/watch?v=X-1fBXDyiik
Cougar Encounter’s
https://www.youtube.com/watch?v=EXqMX5SXMnQ
He comes back near the end, skip to.
Killing Michigan Wolves
https://eu.detroitnews.com/story/news/local/michigan/2018/12/12/governments-motivation-questioned-michigan-wolf-killing/2268242002/
Packing heat in Detroit: Motown residents answer police chief’s call to arms
https://www.foxnews.com/us/packing-heat-in-detroit-motown-residents-answer-police-chiefs-call-to-arms
I wish I could use this standard to file my taxes!
Thanks everyone for your comments.
Please understand, as an Accountant, I studied government reporting in College (as all accountants do); however, I worked with non-governmental Financial Reporting, and Tax in my various roles. This was my absolute shock at reading FASAB Standard 56. It undermines everything that we, Accountants, believe. As William Stanley points out, not only are governmental financials allowed to be materially WRONG, but there is no necessary disclosure. I would sooner see a totally redacted report or a line that says “RESTRICTED” with an amount than have absolutely no idea what I was reading was accurate or an absolute fantasy. Governmental financials should be marked “Fiction or Non-Fiction” at this point.
Freebrezer makes a solid point. Taxpayers are held accountable (more guilty until proven innocent) to high standards; however, the government can produce fictional financial reports.
Greg, Catherine Austin Fitts is an excellent guest. I am so happy you brought her on. If you haven’t watched it, she dives even deeper in the real world implications of this.
Thank you Greg for all you do! Thank you Caterhine Austin Fitts and Dr Mark Skidmore for making us aware of this.
The rot began in 1913 when the private US Federal Reserve was created. Money created as debt has enslaved the planet and we are fast approaching the climax of debt saturation.
I understand everyone has their own belief system but what I cannot fathom is when this website is labeled a ‘Conspiracy Theory Site’.
I would have been offended by this 7 or 8 years ago but on this occasion I stood my ground. Yesterday during a geo political discussion; I gave a blank faced expression in response and merely said , “Good Thanks” to the ignorant garbage, that was spewed at me by the accusers. There is still to this day no meaningful debate when it comes to an alternative opinion or any research that challenges the ‘officail narrative, I’m afraid.
Crack on Greg, on and upwards!
Conspiracy theorist, racist, nazi, bigot, homophobe, sexist, et al, are all terms the left uses to shut down any conversation they feel unqualifed to discuss, unworthy to discuss and not in alignment with their own narrow beliefs.
The Mafia was a conspiracy theory.
So was Watergate.
And Project Gladio.
And the USS Liberty.
WAS…
If they say something’s a conspiracy theory, say “By that do you mean ‘currently unsolved’?”
Hi Greg,
You mentioned Dr. Skidmore but he has acknowledged that the missing 21 trillion was Katherine’s story. He didn’t believe her and set out to prove her wrong. It turned out that he and his graduate students concluded that she was right. You were among the first media outlets to cover this and the establishment media has ignored it or dismissed it. Your coverage must have rattled cages though. The federal government’s decision to classify virtually anything under an umbrella of national security is just more proof that Katherine was right all along. The silence of the fake media is deafening. This story is monumental. The impact will be greater than anything that we can imagine and the majority of Americans will be unaware that anything happening. This is arguably the end of America as we have known it happening right under Americans noses, the straw that broke the camel’s back.
Thanks Mal,
This is the biggest financial story in the history of the world.
Greg
Greg
At one time I worked as an Auditor for the largest CPA firm in the world. And I also watched the decline of the industry over the years so a lot of what’s going on now doesn’t surprise me. It’s just another symptom of the decline in America. People wouldn’t believe me when I came to Russia about 20 years ago and would tell them that the USA was more corrupt than Russia but Russia does it differently. I had already seen more than most people ever see going on in the USA. I have also seen more than most people will ever see here in Russia. Unfortunately, this is the biggest financial story of the history of the world and the people who control the US are the ones who pulled this off and are hushing it up as much as they can. This is the part you are beginning to see but there is much more. Oil and Natural Gas is another big part of the whole picture Russia has just won that battle which will also affect the Petro Dollar. By the end of this year, Russia will have 4 new pipelines in full production. They’ll have a new LNG plant near St. Petersburg completed. Another one on Sakhalin Island expanded for greater capacity completed. And the financing in place for a 2nd large LNG plant to be built in Yamal. Watch what Russia does with a 60 bcm volume of NG which Ukraine wants them to guarantee for their pipeline in 2020. The pipeline is owned by Rothschild and Putin hates them. Maybe Russia asks the EU for a Nord Stream III? Or just sends the gas somewhere else.
WRONG AGAIN.
Certainly the biggest financial “story” in the history of the “world” would be the fact that the so called “elected representatives” that composed the US Senate and House of Representatives sold the American people down the river forEVER when they abrogated their constitutional duty in 1913 to control the money and credit of this country and enabled a private group of banksters (gangsters) to rule over all of us in perpetuity.
EVERYTHING…and I mean EVERYTHING that has happened to our country in the last +100 years can be traced to that one single event.
For you to make the claim that a missing 21 trillion dollars is more important is ridiculous, and moreover, makes a mockery of the very few brave elected officials, such as LOUIS J MCFADDEN (chairman of the House Banking Committee), who more then likely paid for their VOCAL and VOCIFEROUS opposition to this abomination not only with their political careers, but with their LIVES.
We live under a tyrannical parasitic kleptocratic oligarchy (plutocracy) that has ALL of our, and our progeny’s future in their hands, and will NEVER loosen their stranglehold around our throats.
You can take that to the bank.
Dan
If you don’t think this is the biggest financial story in the history of the world then there is something wrong with you. Nobody cares about your rant on 1913 today and the 21 trillion may be the only thing capable of getting peoples attention and pissed off enough to do something about it. Your attitude towards the 21 trillion is ridiculous because this shows just how bad the American people are screwed and that there is no way out of this mess because there is nowhere to go for help.
Mr. Hunter,
I’ll bet that this is the only site on the internet where commenters are passionately arguing which is worse: the Fed, or FASAB 56 and $21 Trillion (known) missing from the government’s accounts!
Mal, you make some very insightful points that can not be emphasize enough.
1) FASAB 56 is a direct result of Ms Austin Fitts investigation and Dr. Skidmore’s concurrence. As Mark James indicates it is diametrically opposed to professional accounting standards. (I too am a professional accountants with standing in multiple countries.)
2) The combined investigation is 100% accurate.
3) The federal authorities will stop at nothing to protect the Ponzi scheme.
This implies that by the complete acceptance by the public and professions associations who should be speaking out against this atrocity there appears to be no hope for the country to right itself. As Gerald Celente says you need the 3 g’s gold, guns and a getaway plan.
Mal – I look at it two ways …1st) the conspiratorial view – maybe the USA government determined that there is a huge extinction event coming earths way and they have been building underground cities/places to house millions of people. You can rest assured none of us are on that list if this is so; or 2nd) It is the biggest theft in the history of man kind. I am not a big conspirator person (except for the deepstate killing both Kennedy brothers) … either way the truth is huge!
Now that Fund managers (who have a fiduciary duty to their investors) can’t logically invest in Treasuries anymore because financial statements are being made secret by the government … a Fund manager can’t legally invest in something “with a hidden financial statement” without incurring the risk of shareholder lawsuits … so … where are these Fund managers going to put their money the day they have to take it out of the Stock Market? … the gold and silver markets are small in comparison to the Treasury market … they could possibly put it into a Government sponsored crypto currency … but again … with lawless government they will likely have “secret wallets” … so Fund Managers are going to be forced into real assets “without liabilities” (like Gold and Silver) whether they like it or not … they just don’t have any other place to go … and the precious metals markets will (as Jim Sinclair says) “rise like they are on steroids”!!
This is interesting … JPM Chase is considering issuing “token coins” pegged to US dollar so that the value of the crypto coin stays stable … the new crypto token will be called “stablecoin” … so if a Fund manager is flush with cash from a stock sale he can deposit the dollars at JP Morgan Chase and receive stablecoin tokens … which can then be used to purchase a new security or gold “but on the block-chain” … sneaky way to keep “physical gold ” out of Fund managers hands!!
Even better than that … an Australian firm has issued 2 new crypto tokens, one redeemable for a gram of gold, the other for a gram of silver. All of the PM’s are insured vaulted and physically allocated The purchase price is 1% over spot. Another way to hide your PM holdings from those who mean us harm.
“rise like they are on Viagra” would be a better comparison, but I guess that would be free advertising for those dastardly pharmaceutical companies!
According to Martin Armstrong pension funds don’t invest in gold because for them it is a dead asset, they need yield for payouts. Who is correct Catherine or Martin? Good question.
By the way, Catherine is looking progressively better and better, when you had her on last November she looked like she had just rolled out of bed.
Pension funds probably don’t hold gold because of the lack of yield. However, if the price of gold starts to appreciate there will probably be lots of investment funds that will dive in there.
LOL JC
She travels around the world and the US almost non stop.
She probably just did roll out of bed off off a long plane flight.
Catherine makes the important point that there’s no point raising taxes until we get a grip on where the money is going.
I wonder if a taxpayer can file a lawsuit because of the hole in the bucket?
Won’t stop the criminals doing it though!
FASAB 56 should be a major story on every network and newspaper. Are there no accounting associations to have heard of this? How many people here that watch Catherine have an accountant that they use for their business? If they don’t know about this they need to be told/learn. In my opinion, this is the legalization of theft and shows the complete corruption of a “professional” class. Normal taxpayers should demand a similar escape clause that allows them to declare whatever they feel like on their own financial statements. I would say if this FASAB56 remains active it is the “crack” that will finally destroy the idea of “full faith and confidence” in the dollar.
Greg,
CAF is right. We no longer have a sovereign government, we have a military state that has been run by a criminal cabal. Period. Proof?
https://www.zerohedge.com/news/2019-03-01/us-army-takes-50-tons-gold-syria-alleged-deal-isis
The final struggle on who has control is being played out now between Donald Trump and the deep state. Behind the sunshine and lollipop technological illusion we live in, sinister things are taking place. People are dying. People are disappearing. And people are being arrested and taken to holding cells waiting for military tribunals. Is it a surprise that trials will occur in military courts? This is what happens when you live in a military state. Rex 84 lays out the blueprint for what lyes ahead. In reality we’ve been living under a state of emergency since 911. I used to be able to drive onto military bases to visit friends without going through security check points. But since 911 that became no longer possible.
Greg I’m afraid the outcome of our economic struggle will be determined by armed conflict inside this country. The criminal cabal will not release their death grip without a fight, and the patriots that elected Donald Trump have no plans to walk away quietly into the night. Liberty has always been bought with blood.
It’s not over.
The document says “ any links associated with Russian collusion” https://i0.wp.com/www.libertyonenews.com/wp-content/uploads/2018/05/b0370f20b14837da3f22fb8af6d4b240.gif
Bill and Hilary are supposedly in the Bahamas overseeing their charities. Ya right.
Like I said.
People are dying for the truth to come out.
http://www.batimes.com.ar/news/argentina/socialite-natacha-jaitt-found-dead.phtml
Jerry , I hope we will live long enough to see Truth. Justice , honesty come back to America. We are anxiously waiting.
Greg and Catherine are doing their part.
Let’s be strong and brave and help all we can.
Jerry,
Please provide some evidence of your claim that “And people are being arrested and taken to holding cells waiting for military tribunals.” Name names. Who exactly??
Respectfully,
Frank,
Most the information I post either comes from other links or my personal sources. Most of the time I’ve been wrong I’ve taken information from other links to be fact when they were not. My personal sources have not been wrong yet. To answer your question, the information I am getting on the arrest is from my personal sources that are on the ground. Without going into detail as to who they are, let me say that one is in the military, and one Is with a data company that covers the midwest. I usually compare information from both before I post. As to who is being arrested? we don’t know for sure who they are, but they are infuential people since the arrest are occurring in upscale neighborhoods. The vans are clearly homeland security, so these are not local law enforcement doing the raids. The big thing is they are being transported to military transport planes in Kansas. Right now that’s all I know.
Come on Trump … fire Powell and get the Ponzi Protection Team to keep their hands off gold and you will get the weaker dollar you want!! … https://www.zerohedge.com/news/2019-03-02/trump-says-dollar-too-strong-slams-powell-who-likes-raising-interest-rates
And if that doesn’t work “Nationalize the Fed” … we need gold to rise and the dollar to fall to enhance trade and diminish our Trade Deficit … expropriate JP Morgan Chase’s silver hoard under the RICO laws and then authorize a gold and silver backed dollar!!
Let’s stop the slaughter of future generations that had the good fortune to escape abortion … but were then put in chains with an albatross around their necks … let’s give them a chance at economic prosperity … they should not be forced to pay off the horrific debt’s of previous generations … let’s lift this unfair burden off their shoulders … simply Nationalize the Fed … the banksters are evil parasites drinking our Nation’s blood (the blood of our children) … even the ones they don’t catch out on the street after 10 o’clock (for use in their Satanic rituals) … it is time to turn the tide against evil … and hug the flag of liberty and freedom!! …
http://theeconomiccollapseblog.com/archives/14-reasons-why-we-should-nationalize-the-federal-reserve
Trump hugs the flag of freedom … but then surrounds himself with neocons like Bolton, Pompeo, Abrams, etc. men infamous for “promoting regime change”?? … Bolton recently said he saw Venezuela as a “big business opportunity” for American companies … noting that “it would make a big difference to the US if American companies could take over Venezuela’s oil production” … and “he” was considering sending President Maduro to the Guantanamo Bay torture camp (so who is our President anyway??) … then Marco Rubio tweets out pictures of Libyan leader Colonel Gaddafi’s mutilated corpse (easily taken to be a crude statement of intent for Venezuela) … I don’t recall Rubio being elected President?? … instead of hugging the flag Trump needs to assert his Presidential power and keep the neocon usurpers (who want to continue to do regime change) under control … he is not being paid by us Americans but that doesn’t mean he need not work for us and remove all the neocons surrounding him!!
At 15 minute mark Catherine hit the nail on the head! The ramp up in financial lies, dark pools, and military spending is proving the whole world is filled with lawlessness:
1 John 3:4 Every one that doeth sin doeth also lawlessness; and sin is lawlessness.
Father is simply testing every soul on the planet as to where their loves is:
1 John 2:15-17 Love not the world, neither the things that are in the world. If any man love the world, the love of the Father is not in him. (16) For all that is in the world, the lust of the flesh and the lust of the eyes and the vainglory of life, is not of the Father, but is of the world. (17) And the world passeth away, and the lust thereof: but he that doeth the will of God abideth for ever.
Father will test your love right up unto your end:
Revelation 12:11 And they overcame him because of the blood of the Lamb, and because of the word of their testimony; and they loved not their life even unto death.
Please study how Father views lawlessness so you do not lose your soul:
https://sumofthyword.com/2017/01/18/the-mystery-of-lawlessness/
This article is a “Real Downer”. I wonder how bad things really are? If they’ve declared government finances a National Security Secret, then…..
http://www.catherineingram.com/facingextinction/
She sure has not been reading the scientific papers I have read – YISH! “CO2 is blanketing our atmosphere” – a double YISH. CO2 is a trace gas … And there is just not much of it in the earths atmosphere (period!) … CO2 has gone up from 0.00035 to 0.00040 and this is the end of the world? And remember that the most important thing is that CO2 is plant food! CO2 is a rounding error vs. the real green house “demon” called (as I gasp in horror just writing the words) ‘water vapor’ ! https://www.youtube.com/watch?v=NYoOcaqCzxo
1) Greg fantastic interview and great questions. I mentioned before that government finances, and those of central banks, could theoretically be made secret if it was labelled as a national security issue.
2) I think the issue with gold’s lack of popularity is not so much a lack of yield as a lack of price appreciation. Fund managers’ obsession with FANG stocks (that have no dividend yield) shows that a lack of yield can be ignored as long as there is large price appreciation. Of course, funds would have to pay for storage of these metals, but if gold reached the ‘crazy’ prices predicted (in a ‘crazy’ financial system anything is possible) storage costs would plummet when you consider how much value you could store in each cubic meter.
I also think if silver reached a certain price, such as $1,000 (not impossible give Bitcoin’s price swings), this would provide a buying impetus from big money/funds. In fact, I would be amazed if countries such as China, with such long term ambitions, are not already stockpiling silver.
3) Real estate still will look attractive but comes with a lot of risk:
Maintenance can be costly and taxes can go up.
Real estate cannot be relocated or concealed.
If law and order breaks down real estate would come with increased security issues (vandals, squatters etc).
In the event of a global depression, rents will plummet.
3) I think, like sub prime, the sovereign bond market will chug along and risk ignored until a shock, such as a default on the yield occurs on some of the bonds (maybe because ownership has been transferred to a private corporation, which then went bust), which will raise questions.
4) Are stocks viable for private investors? They are mostly held in pooled accounts, on behalf of private investors, so if the stockbroker goes bust who owns the stocks?
5) The Solari report does look impressive with some great topics. Would CAF consider selling it in WH Smiths?
Is there any question Lucifer has a firm grip on New York ?
https://newyork.cbslocal.com/2019/02/27/nypd-ms-13-planning-to-target-off-duty-cops-at-their-homes/
The same place that erects statues to Baal and kills innocent children, now has targets placed on the backs of its law enforcement officers. I’m not making a prediction here, but if you live in New York you may want to get out now. Biblically speaking, when people in the past have done such things, bad things happen. Sodom comes to mind. How about Caligula? 911 was no accident. New York has always been the primary target that can inflict the most damage to this country. Its target rich with a large population, and intersecting financial centers. I would speculate there is another reason MS13 is targeting law enforcement officers in New York. In the middle of chaos, should first responders be targeted, any preplanned disaster plans will come unraveled to maximize casualties. That’s how evil these people are. And guess what? Bill and Hilary just happen to be gone. That should be a warning to you.
When the walls come falling down.
https://youtu.be/x2mzb7mBrnI
Communist “News” Network (CNN) and Fox “News” are very fake news.
agreed. they are the black and white on the checkerboard.
Prior to this accounting change along with the credit agencies lowering the rating on US debt the question was always there – why would anyone buy a Treasury bond from a country that was trillions of dollars in debt? Other than offering a temporary place to park money due to liquidity I fail to understand why there is so much faith in this form of paper investment. Not only are we trapped between a rock and a hard place in regards to rates but we are seemingly being more constrained in regards to time as well. Long term investment in bonds appears to be more shifted to the short end of the curve where money is just parked and awaiting a place ” to go”. We are not going to get domestic and foreign investment in this country with long term rates paying below the inflation rate and when deficits are out of control. Now, add lack of accounting discovery to the cesspool and it becomes quite clear that we are going deeper into a dark and murky area where financial ruin resides. Folks, I feel it would be better if we just took our medicine and start raising rates to reverse the last ten years of insanity and get these bubbles deflated, normalize rates to reflect the true costs of credit and to attract long term domestic/foreign capital. Keeping rates low is a short term bandage whereas raising rates is going to be painful but saves the patient from internal hemorrhaging and subsequent death. When you are on anti-coagulation (QE) even a a bandage can’t stop the bleeding. ( increasing debt, increasing deficits, and delusional beliefs that elevated bond prices, housing prices and equities are a reflection of a good economy but always knowing in the back of your mind that contrived rates is what got you there) What we need is some Vitamin K – (QT) and a blood transfusion – Vitamin Au. I suspect that gold being elevated to tier one status within the banking sector is synonymous with starting the IV – they just can’t decide if it would be better to inflate or deflate.
I think there is a general belief that sovereign states can always raise taxes or sell national assets to pay back their debts. I am not saying this is what I think though.
Good interview Greg
Who was it who said ?
“Let me coin a nations money & I care not who makes it’s laws?”
There is the 21 trillion dollar problem.
Corrupt bankers can buy off & corrupt all the needed politicians with all the”money” they invent out of thin air & bring down a country financially given enough …..time & the clock is ticking …..down
Greg I bought Daniel Estulin’s book – In the Shadows of a Presidency….. & as I am reading along I am thinking where have I read this before ??? Then I started reading all the foot notes & who is Estulin quoting or paraphrasing……CAF & The Solari Report over & over & over again. Just a FYI……….
Greg I was under the impression the gold from 911 was stolen ….when they removed all the rubble the gold was gone ????
http://quotes.liberty-tree.ca/quote/mayer_amschel_rothschild_quote_8bed
Bingo AndrewB …………nailed the problem spot on
Peak gaming of the system. I can’t wait to see the movie. I’m sure it will be coming to a theater near me.
There is more than just a hint of civil war in the air. It is getting darker all the time.
With FASAB Standard 56 the game is afoot.
Standing by.
Trojan horse straight ahead :
Well ,actually the crooks have a new strategy . I saw Frank Holmes out there today pumping gold, now Frank seems like a nice guy ,but he doesn’t understand the objective of these mega-mergers. The COMEX is out of gold so is LBMA , the paper gold game would be ending soon , so they need to come up with some physical in order to keep the price capped. Barrick is just an extension of the US Treasury , mostly owned Carlyle group who are the same guys who run the deep state. The idea here is to create a huge company that will actually have the muscle to set the gold price. The bid for Newmont seems irrational , until you understand the ultimate objective, which is to acquire all of these companies then sell forward their production, at around the cost of production or LESS . this would eliminate some of the Naked shorting now done on Comex because Barrick would at some point have to deliver the gold, but the reason for the mergers has nothing to do with a profit motive. Once the Barrick board has control they will be able to sell the production of all the companies they acquire at cost, if they lose money it won’t matter because Barrick is just a proxy for the US Treasury , so the losses just pile onto the national debt , and of course the share price gets killed , but they don’t care . These guys know that if gold breaks out to the upside that the whole dollar rig is up and they system collapses . Why do you think Barrick offered Newmont less than the current market price?( this has never happened before according to Pierre LaSonne ) why do you think paper gold has been smashed hard for a week straight and is headed down even further? of course they just stole 50 tons of gold from Venezuela, and before that they have been looting the gold in every country they invade in the guise of “regime change”. these guys are totally desperate , if gold breaks out and the sheep get wind of it, it’s game over for the dollar , and the end of the US economy
As Greg pointed out, they always steal the gold after invading a country, so it is obviously considered important.
Jack,
Nice!
Hi Jack
Your alanysis may well be correct. While time and experience has taught me to be circumspect regarding any positive scenarios for gold and silver, I would like to use the Barrick / Newmont takeover to paint an alternative picture:
I have been aware of Basel III since it’s publication in 2012 and, while there have been false hopes of implementation prior to its deadline, the elevation of gold to a Tier I asset under Basel III is scheduled to take place end March (“Beware the ides of March”) or on April Fools’ Day – the elites appear fixated by ‘significant dates’. Not only is gold to become a Tier I asset but, as I understand it, all other central bank assets which carry third party risk – including sovereign bonds – are to be demoted from Tier I status. This pretty much renders gold the ONLY Tier I asset (according to Basel III rules). This may explain why Central Banks have been buying gold since 2008 (when fiat currencies effectively went bust).
Back to Barrick / Newmont. As gold is to regain its historical status as money (Basel III), then the miners will be defacto the new ‘printing presses’. Hence suppression of the gold miners asset values and consolidation – enabling TPTB to continue to own and control the issuance of the ‘new money’ – gold.
I suggest that it will serve the Central Banks best interests to allow (assist in) a very significant increase in the value of gold (and silver) post Basel III because this will reflate their capital and vastly improve their capital / loan ratios. Even the likes of Deutsche Bank could become solvent given a sufficient increase in the value of its gold holdings.
Under the above scenario, I believe TPTB will end the sale of synthetic gold futures and become sellers of physical gold futures. As owners of the means of production (the miners) they will manipulate the price of gold by withholding supply, if ever demand is low, in order to maintain high prices. Yes, I know this is the absolute opposite of what we’re used to but stranger things have happened . . .
https://youtu.be/Cp-ov5T4DbE
Nicer!
One thing to bear in mind is that the amount of gold above ground is very large relative to production. Therefore, control of mining production does not imply control of the price. The banks etc. want to buy mines because the price is now very low compared to where it’s going to be (and where they may be in control of putting it).
An aside: Newmont’s stock price was going up — and Barrick’s was going down — for days before I heard anything about a takeover bid. Maybe I just didn’t timely get the news; or maybe . . .
Jack,
I hate to burst your bubble, but your late to the party. I’ve been posting the financial news about China’s plans for years. Especially about the Trojan horse infiltration inside our banking system.
https://www.rmbusawg.com
The globalist will try to reset the global currency system using their newly groomed proxy “China”, but it will fail. There is no honor among thrives, and when the time comes, someone will have to take ownership of the debt. Period. Greg is right. We may want to believe that digital currency is the future, but the bottom line is, banks always want physical assets to cover their investments.
Like I said. Physical assets.
https://www.zerohedge.com/news/2019-03-04/it-begins-chinas-largest-properties-developer-will-sell-all-homes-10-discount
Unbelieveable awesome report! Fantastic!
Shalom,
Lo Iyrah!
Shalom,
CC
well the problem with this is that the banks want their cake and eat it too. Yes I have heard about the pending upgrade of gold to a tier 1 asset, in which case , the dollar price would explode, but what about the dollar itself? once the dollar is dethroned as the reserve currency the US is finished , also remember the US has ZERO gold ( at least above ground) while China, India Russia have so much more. I would think that the US would be playing catch up for a long time and they are not buying any gold, in fact they have been selling it along with London in order to suppress the price and try to keep the dollar viable; therefore I think the US will fight tooth and nail to keep gold from becoming a tier 1 asset ( it is already recognized as such BETWEEN countries) so by upgrading it , it is just a cosmetic adjustment on the balance sheets of the banks , making official what the banks already know. I still believe that Barrick as proxy for the dark forces plans to grab as many mines as possible on the cheap and sell forward the production to keep the price capped for a few more years. of course eventually China will back it’s currency in gold and then it will be game over for the satanist US. By bringing gold back to be recognized as a currency again the whole fiat game would be up , so unless the bankers have control of ALL the gold in order to mark it up to $10,000 or more , thus making their debt look smaller and amounts of gold outside the system would create hyperinflation and of course you must consider that gold is leveraged over 500:1 now with paper claims , so if gold is repriced , anyone outside the bankers holding gold would want delivery , and of course they can’t come close to that. funds like GLD were expressly set up to effectively SHORT gold, anyone who has invested there will never be able to get delivery ex the big boys who have $1m or more, but when the scramble starts none of these paper gold scams will be able to deliver. so I am certain I am correct as to my thesis regarding Barrick/ Newmont trying to create a large enough to control the PHYSICAL price of gold, what everyone now says is a correction back from $1,350 is actually an avalanche to knock gold back under $1,000 and take it off the sheep’s radar once and for all. I would be massively short gold right now
If you are going to make this call “Jack” please use a full name and post your resume. I totally disagree and so does CAF.
Greg
Greg, for obvious reasons I must use the name “jack” . I am an insider , with all due respect CAF is much lower on the food chain then I am . If you want to discuss this matter in more detail you have my private e-mail address , I would be happy to fill you in , but you do not have my permission to distribute what else I say on your board. I was just trying to give your readers a little taste of what is to come . My contacts are from much “higher up’ than CAF . more likely , if you send me a private e-mail , I would give you a satellite phone to call , and we can discuss confidentially. I am a Ghost
Jack,
Email sent. Got it.
Greg
Mr. Hunter,
I wonder how many “burner” phones he (and you) could buy for the price of one call over a satellite link (even if he reimbursed you on you end). BTW, a satellite link is sure to be monitored by NSA (and forget about trying encryption). Moreover, since he’s sent you an email, his OpSec may not be that great. Not that YOU need to worry about that.
Be careful Greg.
Maybe cautious is a better word.
Russ,
https://www.geoengineeringwatch.org/ Read this and study it. I did.
Greg
jack,
Why not call yourself “Casper”? Unless you’re not a friendly ghost.
Well Greg,
I guess we’re about to find out.
https://www.zerohedge.com/news/2019-03-05/bis-warns-market-crash-risk-looming-fire-sales-over-mass-bbb-downgrades
Well China would love your thesis to be correct as that will be more gold to shovel into the dragon’s mouth.
Everyone says China is so weak. That China has issued so much debt etc. My belief is that it is like a card game where they have kept a card out of sight and everyone seems to have forgotten it, Gold is that card.
I believe that when China gets just a little bit more that they are going to do a currency reset that will be backed by a MUCH appreciated gold, Suddenly, they will not be weak but will be the richest nation in the world. Gold may hit a number that no one talks about today. As much as $50k/oz seems like the high end that anyone talks now . . . I believe that will become a bargain price much as $1k would be now And, I don’t think we will be waiting decades. Or, even semi-decades.
Good analogy. America overstates its gold reserves and China understates it – Massively!
“Appear weak when you are strong, and strong when you are weak.”
-So it appears both China AND America are scholars of Sun Tzu…
TSI – What is sad is that the west has been fed horse Sh$t vs. gold in that it is just a metal. What the masses of the west do not understand is that 1.3 billion Chinese and 1.4 billion Indian’s call it money … and those two dragons are especially hungry!
Yep, that is a lot of people to feed.
Jack,
Re: being short gold
The problem is that if your thesis of manipulation is correct (and I think manipulation is going on), going short could get you badly burned when the price bounces back. To safely play your game, you not only need to know that manipulation is happening or will happen . . . you need to know when. If you’re not an insider, you won’t know. I see this pullback as a blessing . . . and a possible buying opportunity, especially if the price drops significantly.
Good point William. A couple of years ago Clif High suggested borrowing money to invest in precious metals. The rationale being that the dollar would get weaker and precious metals would go to the moon imminently. Glad I didn’t do that.
You can buy small amounts of gold at these prices, but if you are looking for tonnage , as would a sovereign, the going rate is around $2,300US. AS for shorting paper gold it’s really pretty easy, if sentiment get’s too bullish , ( like on the fake gold site Kitco) they will come in and hammer gold , also ALWAYS go short a couple days before a FED meeting( doesn’t matter what the FED says) or option expiration days , you will make money 8 out of 10 times , then cover 3 days later . has worked like clockwork for 20 years or more
The Jack thesis that Barrick/Newmont are going to sell gold forward to keep the price down fits the commie economic model of owning a business “so as not to create a profit” … gold mining stocks have been screwing the public for years … it’s about time people are now becoming aware of this fact … and that they “should not own any gold stocks” only physical gold … so lets say the commies knock gold back down under $1,000 … that would mean they will need to get bailed out (just like the banks) to avoid bankruptcy … in effect subsidizing low cost physical gold purchases (with tax money from dumbed down American’s who would rather own a chocolate bar then a gold coin) … which is fine and dandy with China, Russia, India, etc. and of course us gold-bugs!!
On the bright side … eliminating all investment in the crooked and evil controlled gold stocks will provide more support owning “physical” gold (which unlike gold stocks can never go bankrupt or become worthless)!!
Jack,
Why would the US buy gold when it is allowed to steal it from other nations that they conquer via their “freedom & democracy” BS?
They would be crazy to buy gold when the world allows them to just take it.
No one in the US is going to stop it, are they?
You know…..that well-formed militia to defend against a tyrannical government. I can’t see one of those at present…..but I remain eternally hopeful that one will arise over in there.
Leave them to their pitiful game and let God sort them out at the end.
Either God or some nation that is tired of having sand kicked in its’ face.
That’s what I and most of the people on this planet are praying for.
Ray, Canberra, Sand Kicking (small feet) Nation
Hey Ray,
Why don’t you and the Kiwi brigade storm our shores and show us ‘faint hearts’ just how its done? Thru your incessant ‘broken record’ rants you apparently know exactly what needs to be done..Think of this as a public service project as you give us a quick, simple weekend shock and awe lesson and rid us of our criminal political class once and for all! We are a quick study with plenty of prior military experience here in America—I look forward to being schooled and amazed by the heroics of the Lap Dog Nation!! SOD
Ray,
I got a genuine kick(!) out of your “small feet” humor.
As for the stealing of 55 tonnes of Syrian gold: I’m hard pressed to see that it passes any rational benefit/cost test. Take the dollar value of 55 tonnes of gold and divide by the trillions of dollars the US has poured into its (and your) wars in the ME (putting aside any “collateral” costs, such as destroyed lives and limbs, etc.) The B/C will be way less than one.
Under FASAB 56 it would have been a lot easier just to steal such sums directly from the American people.
Moreover, the B/C calculation assumes that the 55 tonnes somehow inures to the benefit of the American people (and not just a few politicians and their buddies).
Now, if you could persuade the UK and the Commonwealth nations from trying to steal US elections (for their Clinton-connected co-conspirators) or helping China undermine US submarine security, etc., etc., maybe the world would have a much better chance.
Of course, the B/C ratio for stealing elections and helping China actually IS quite high . . . for certain Globalist interests. No wonder you feel so superior: you identify with the Globalist and sneer at those “stupid” Americans, who can be talked into anything.
Greg,
https://www.zerohedge.com/news/2019-03-03/theresa-may-has-received-peace-offering-tory-rebels
What a sham…
Now the theatre is prepped to shove down the throats of Brits a deal crafted by May and globalists that will be for GB a much WORSE inferior position than what they had before the referendum when they were part of EU, Classical playbook of circumventing the wish of the people to throw them into a worse position of invisible slavery shackles.
I have been picking on Brexit many blogs back because I KNEW WHERE IT IS HEADING, I know the playbook very well , I have seen it unfolding in front of my eyes many times before.
GB NO MORE……!
Like the old say: what goes around comes around, now they are PAYING their deeds to other nations in the past…
Mohammad
yes, but once China can’t buy physical gold with their dollar reserves , they will go ahead and quit using dollars for trade , so the Chinese want a strong dollar to buy more gold and if it is not offered cheaply from the west they will dump the Treasury bonds, thus the west is forced to essentially back it’s bonds and the dollar with physical gold , but they have run out, so this scheme with Barrick/Newmont will buy the US a little more time to cap the dollar price of gold, via mining it and selling it to the Chinese at cost
Bingo!!
You know … something is wrong with the thesis that Trump is going to allow the Chinese to buy physical gold “at production cost or lower” by the US Treasury subsidizing Barrick/Newmont … why put tariffs on Chinese goods but remove the “tariff” on China’s purchase of our gold by subsidizing their purchases (shouldn’t he be raising the gold price to $50,000 per ounce)??? … otherwise what is all the “political show about” on how he is imposing “tariffs” on China???? … and what of that other political show about ending regime change and stopping the continual non-stop wars!! … Trump should put a “tariff” on the warmongers … by telling them the US Government “will only pay production cost” for the weapons they build to protect their country (similar to the way gold mining companies have to sell their gold at production cost)!!
right you are …. funny to watch the BBC types … they see it that it is rotten but they keep doing their job which is to sell rotten deals ….. what goes around comes around
btw what is going to happen to british pound?
AJ,
Today something happened that is not unexpected (may be it was).
The voting on no-deal was removed from the business schedule and the chair of the house of commons was furious, I know from following up the parliament’s debates that he is leaning towards staying within EU, so this step is to keep the gun holding to the parliament’s heads threatening them with my-deal or DELAY. and delay will follow a delay with billions of sterling pounds payed to the EU for the penalty of extension.
Sterling pound will be a weapon in the hands of the brits (with the risk of inflation) if they break free from EU with no-deal , they can devalue the sterling pound and give Germany the middle finger and make it up with exports for the loss of market share that is likely to be temporary.
You have to keep in mind that GB cannot negotiate any trades unless they break free, however if they succeed and devalue the pound they will run the risk of inflation but it could be negated later on since they CONTROL the pound.
I do not think they will break free.
It will be surprising to see May jumping the cliff and pulling the stunt in the last second of no deal.
I think it will be an extension of article 50 paying penalty and more of the same until people are sick of Brexit and they come on knees asking to stay in EU.
I am following up on the matter which I find fascinating, will see how it goes.
I have a good reason to believe it is the END of the crown era allover the world starting with the hard one in England, because there is a new crown will emerge which is the KINGDOM OF ISRAEL that cannot tolerate other crowns.
May be that is why you see the writing on the wall for SA crown/Jordan’s crown / And above all queen Elizabeth crown.
Mohammad
Mohammad,
Did you ever consider The Queen of England sits on King Davids crown? If the current so called Israel creates a crown it will be a false one.
Jallen
It will be the real one, Israel is known in history of being kingdom and ruled by kings, our Quran speaks with utmost respect about king Suliman and king Dawood the father.
The law passed in Israel to consider it a “Jewish state” is seen erroneously by most as an apartheid state that promotes separation for racist reasons, I see it differently, I see it the preparation of Kingdom of Israel, when it arises it will rule obsolete the rest of the crowns in the world.
Mohammad
And Jallen the king David’s crown in GB is false, it is a bridge to the real one in Israel.
Whom will claim the thrown in Israel has to be with distinctive features, also the kingdom will claim the holy land from river to river, and will return to gold/silver coinage.
Mohammad
You know … that failed coup against Turkey’s President really got the neocons in trouble … making Turkey a bigger threat to the neocons then Iran … this is why the neocons have forced Trump to keep troops in Syria … but the more the neocons show “hostility toward Turkey” … the more they will drive Turkey into a military alliance with Iran and Russia (and perhaps China) … sort of like what they are doing in Venezuela … Turkey is already purchasing Russian S-400 missile systems so they know what the neocons are up to … but the more these neocons push to dominate the Middle East the weaker they get … it’s easy to see what these neocons are planning … they are likely going to make Trump impose sanctions on Turkey … the way they have on Iran and Russia … but this will only serve to bind together a formidable alliance … a new “Axis of Evil” they can send our children to fight to bring in more profits to the Dep State Military/Industrial/Bankster/Government Complex … they probably figure the Ponzi Protection Team can keep the gold price under control when they start their Middle East War … hopefully (with a lot of praying) and looking at the past failed actions of these evil neocons (always poking around to start a war) we can avoid one!! … https://www.zerohedge.com/news/2019-03-02/trump-move-us-troops-syria-does-not-bode-well-us-turkey-relations
From the looks of the conference between warmongering neocons … held to garner support to “create a new war” with Iran, Russia and Turkey … it has failed … and the supposed “Axis of Evil” held their own separate conference … not to foster in a new war … but to buy more S400’s and settle up the old war in Syria … https://www.zerohedge.com/news/2019-03-03/future-middle-east-astana-trio-versus-warsaw-debacle
If it is true that Trump is promoting regime change in Venezuela and Iran … then why all the self righteousness from his base about the evil Demon-rats trying to get rid of him … including me? … if we continue to go around doing regime changes … why should it not come around to bite us! … and all this struggle … to make this a better world … and America Great Again is for naught!! https://www.zerohedge.com/news/2019-03-04/us-tried-isolate-venezuela-it-has-only-isolated-itself
The month of March … may be the month Trump “loses his base” as he goes to war “to effect regime change” just like the evil neocons before him!!! … https://www.zerohedge.com/news/2019-03-04/pentagons-ides-march-best-month-go-war
You know … with all their failures to get a war started … it wouldn’t surprise me to learn that the neocons were responsible for getting things going between India and Pakistan … a big nuclear exchange would be welcome by the neocons as it will cause a mild “nuclear winter” … the mushroom clouds kicking dust into the atmosphere will block warming sunlight leading to average surface temperatures to drop in the Northern Hemisphere … this would lead to widespread crop failures and a significant reduction in grain yields … leading to 1 to 2 billion people starving to death … which should be enough cover to take all the evil neocons out of the limelight !!
so the “z” part of the banking bills post-08 housing crisis (dodd-frnk reveals private party/investors w conflicts of public interest)-meant the fed decided they just werent going to reveal thier deals to the public.
bait & switch
“Today, these currencies are backed by – mostly domestic bonds, US Treasury bonds and – gold in a dollar regulated marketplace where gold is a commodity priced by the dollar futures market. As the dollar function – collapses due excessive debts and – is replaced by gold used as a global reserve reference point for trading currencies, …… We will still have debt. We will still have currencies and derivatives. But these will all be valued by an FX regime that weighs their relationship to freely traded, free market priced physical gold (rather than in terms of dollar). Ask any central banker about the only unencumbered asset on their balance sheet, which is now declared a “tier one” asset by the BIS.
The matter at hand today is less “when” than “how gently we arrive” ………….. The dollar system is still buying time.”
One of the most insightful article in regard to the meaning of gold as a “tier one” asset and its changing role in the FX market.
http://roacheforque.blogspot.com/2019/03/special-fx.html#comment-form
Interesting comments by CAF re gold and real estate. She’s right that gold is a minuscule market at $13k per ounce, but the price could easily go to $1miilion per ounce. At any price it will always have no counter party risk. On the other hand, real estate has a significant counter party risk; the government’s ability to tax.
As for global corporate control, I want to remind everyone of the Swiss study that showed that 90% of the top global corporations were linked by Directors or stock ownership, all presumably through the machinations of the bankster cabal.
If the bond markets (which Martin Armstrong said are 10x bigger than the stock markets) collapsed, that is a lot of money that will be looking for a home. It wouldn’t take much of that to drive up precious metals by multiples.
But deciding when to sell it can be harder than deciding when to buy it.
It’s hard work making money from PMs, so don’t even try. Just get a bit as insurance and leave it at that.
Here’s an important link detailing how AOC, the two Muslim reps from Minnesota, and a few others were recruited by casting call by a group called the Justice Democrats. They are doing whatever they can to infiltrate the government. Well worth your time to listen.
https://www.youtube.com/watch?v=rsObPEj9ZAY
Major Payne
Gave it a listen. Makes sense to me. I couldn’t figure out how she could go from bar tending to grandstanding in congress. They must all be fans of
AC/DC…..dirty deeds done dirt cheap….. Surprisingly successful though.
AWESOME find! Thanks for the link… Chip
MP – thanks for the link … connected some dots!
Greg a Funny to share
TRUE STORY THAT COULD HAPPEN RE: OCASIO-CORTEZ.
A plane is on its way to Washington DC when Representative Ocasio Cortez seated in economy class gets up and moves to the first class section and sits down.
The flight attendant watches her do this and asks to see her ticket.
The flight attendant then tells the Representative that she paid for economy class and that she will have to sit in the back.
Representative Ocasio Cortez replies, “I’m a Democrat, I’m beautiful, I’m socialist, I’m going to DC and I’m staying right here.”
The flight attendant goes into the cockpit and tells the pilot and co-pilot that Representative Ocasio Cortez is sitting in first class that belongs in economy and won’t move back to her seat.
The co-pilot goes back to Representative Ocasio Cortez and tries to explain that because she only paid for economy she will have to leave and return to economy.
Representative Ocasio Cortez replies, ” I’m a Democrat, I’m beautiful, I’m socialist, I’m going to DC and I’m staying right here.”
The co-pilot returns to the cockpit and tells the pilot that he probably should have the police waiting when they land to arrest the Representative who won’t listen to reason.
The pilot says, “You say she is a Democratic Socialist? I’ll handle this; I’m married to a Liberal. I speak socialist.”
He goes back to the Representative and whispers in her ear. She replies, “Oh, I’m sorry.” and gets up and goes back to her seat in economy.
The flight attendant and co-pilot are amazed and asked him what he said to make her move without any fuss.
I told her, “first class isn’t going to DC.”
DY, Perfect !! Thanks, DB
Made me laugh, thank you
that was great … just have her serve a martini to the pilot at the end of the story … that is what she is good for.
AJ
The only problem is that it took AOC a 1/2 hr. to figure out how to make a scotch & water; a martini would be rocket science to her.
Thanks for the great interview. Yes, “Peak Everything”. Unless humans can find a new and very cheap or free source of energy; we are doomed. Wars will be fought for cheap energy.
PS; Martin Armstrong predicts that the price of wheat is about to go way up. This cold winter will hurt crops.
The Money gets Raptured, but we don’t. What a Rip Off!
Can’t fault Pompeo and Bolton …they are doing their damnedest best to get a war started with Iran (to get us all Raptured) when Putin launches his nukes … just like the damn abortion doctors and Cuomo (who are Rapturing babies right now by the millions)!! … Hey neocons and abortionists … what if the rest of us don’t want to be suicided … if you are so intent on going to meet your maker “just kill yourselves” … and leave the rest of us out of your “death wishes”!!
If Maduro fears for his life … I bet he starts ordering S400’s from Russia the same way Turkey has!!
And Maduro will probably tell the US the same thing Qatar just told the Saudi’s (“It’s none of your business”)! … https://www.zerohedge.com/news/2019-03-04/none-their-business-qatar-blasts-saudi-objections-doha-seeking-russian-s-400
As usual, CAF is fantastic. Greg, I have a question for you. I’ve noticed that when you tweet new shows, you share the YouTube link instead of a link to this website. Do you get any ad revenue if we watch on YouTube? Does it help you if we watch on one site instead of the other, or does it not matter in the long run? I don’t mind either way, just wondering which would help you more.
Greg,
The deep state is evidently on a full court press to stop President Trump as the next round of investigations is scheduled to start on Monday. https://www.governorpalin.org/2019/03/03/breaking-democrats-send-60-subpoenas-tomorrow/
Meanwhile Senator Nunez said on Fox News Sunday that attorney general Barr has until March 15th to release the FISA documents. Talk about a train wreck?
Let’s just call this what it is. Impeachment proceedings.
https://www.theatlantic.com/magazine/archive/2019/03/impeachment-trump/580468/
Lets stop “all” impeachment proceedings … this means stopping “regime change”!! … but I guess the Demon-rats think that by impeaching Trump they are stopping “regime change”!!
I agree Paul,
Here’s where we ought to be looking.
https://www.westernjournal.com/ct/aoc-facing-huge-scandal-1-million-allegedly-unaccounted-secretive-companies-exposed/?jwsource=twi
Jerry … It’s just FASAB 56 money … that should not have been disclosed for National Security reasons … the traitors that disclosed this information to hurt AOC are Deep State operatives who don’t want to see the Demon-rat Party divided … the few million dollars AOC hid away is nothing compared to the $21 Trillion the Deep State has pocketed (and they are pointing fingers??)!!!
This quote from AOC sounds like something I would say? … “I do think that a system that allows billionaires to exist when there are parts of Alabama where people are still getting ringworm because they don’t have access to public health is wrong,” … she is not a Demon-rat in my book!
Here in Buffalo even Mc donalds can’t make it, when they start to close there stores things are going get tough all over!!!
How about we commies make McDonald’s sell their products “at cost” … like we presently require of the gold miners!!
Is this 21 trillion dollars missing included in any way part of the 22 trillion national debt. It doesn’t seem possible we are really 43 trillion dollars in debt.
“Lance,”
Not part of it. Please study: https://usawatchdog.com/missing-21-trillion-means-federal-government-is-lawless-dr-mark-skidmore/
Greg
IF the money is phony, so is the debt. If the money is printed, so is the debt. It’s all made up.
That is why we have the 50 year Jubilee. Debt WRITTEN WRITE OFF because it’s phony.
A reset is needed but it won’t be voluntary. But because they still believe the debt is real there will be phony consequences.
Yes, ancient Babylon and Egypt realized that debt would eventually eat a civilization ( “The most powerful force in the universe is compound interest.” Einstein) so every 50 years or so they would declare a debt jubilee and all private debts were forgiven.
We could start by forgiving all student loan debt so that the younger generations could buy and house and start a family and KEEP OUR CIVILIZATION GOING!
Yeah … and let’s also forgive all the credit card debt those with foresight used to buy their silver and gold!
Both are on the wrong wishful side.
Debt is SLAVERY…And the TPTB will never ever give up its most powerful weapon ….DEBT….!!!
Mohammad
And the slaves always revolt.
They revolt when TPTB want and to a worse shackles.
Mohammad
I hang my head in shame.
https://www.theguardian.com/australia-news/2019/mar/04/the-killing-times-the-massacres-of-aboriginal-people-australia-must-confront
Don’t worry mate official Oz govt policy is to destroy the white race too so you’ll get the country you want in a few decades. No worries mate. Struth it’ll be obvious even to a liberal soon that evil whitey will disappear. No need to cry mate. Wipe your tears away, everything’s going to be alright.
Over 30 years ago, an Oz politician said “The aim is to make Australia 95% Asian by 2100”. Great stuff, finally a politician said something believable.
The odd irrational bigot objected, so Bob Hawke (then the Prime Minister) said “We will not allow the Asianization of Australia to become a political issue”. And its not, even though you can ride a train in Sydney and be the only white person in the whole thing. Do not notice. That’s the rule.
Australia has such a great future, so hold your head up high mate. Everything will turn out just perfectly with enough white guilt.
Bobby Mate, I think there needs to be a balance. I for one like the contribution some Asians have made to this nation, by Asian I am referring to SEA.
White skin is like having red skin back in the 1700’s … now it is the white mans turn to be put on reservations … what goes around comes around … but instead of giving us “infected blankets” to kill us off … they are giving us “deadly vaccines” … in the future “a dark skinned woman” politician will likely claim to be 0.0001% white (to get undue benefits and run for President) … she will likely be called “Paleface” (like that “white skinned woman” now running for President called Pocahontas)!!
Donald Trump most recently has complained about the dollar being ‘too strong’, and interest rates too high. This after the Fed has only barely modestly raised rates, and very slowly since 2016.
I think he needs to be very very very careful about what he is wishing for here. Once the dollar starts going down again, all the signs point to the dollar not finding any potential ‘bottom’ until around 70 on the index. Its around 96 right now. Thats a 27% haircut in purchasing power.
Problem is, once that sort of decline happens, with the debt increasing now as rapidly as it is, and no doubt with the Fed who will be way behind the curve, trying to arrest the decline, it will be seriously stepping on the interest rate pedal to the metal, with rates going a lot higher than they are now. the Fed KNOWS THIS BIG TIME.
That is why the Fed wants to keep raising interest rates, even if its slowly, because once the decline in the dollar starts in earnest, its like trying to turn the titanic on a dime. It can’t be done. The rapidly increasing debt, and rapidly increasing interest service on that debt, with interest rates raising, will have the perverse effect of whats been happening up to now, meaning the dollar will keep on declining. And there is a very serious chance it won’t just stop at 70.
The dollar is right on the precipice of rolling over into a 3 year cyclical decline. The Fed has tried really hard to push out the topping action on this, so with Trump now railing on them, folks like Cramer railing on the Fed, these are HUGE political mistakes where if the Fed does cop out to this rhetoric, the price of gold is going to go to prices unlike any of us have ever seen before. Central bank buying will be unleashed in massive desperation, since everything else in the world is tied to the dollar, and so much of the global debt held by others (in dollars) is going to hurt them all way worse, than it does us here in the US, at least in the early stages of any meaningful decline. The dollar remains in a secular bear market, that easily could go on another 20 years.
The next 20 years for stocks and bonds, at least here in the US, are not going to be pretty at all. Already Underfunded pension funds are going to collapse. 401K’s are going to be shredded. The 10,000 per day retiring boomers, aren’t going to be the high spending boomers they are today, with the stocks at peak values, and boomers scarfing up RV’s, luxury cars, and SUV’s, and filling up the coffers of many who have lived off their spending legacy.
Gold has taken it on the chin since 2011, and so Fitt’s timing on buying more gold, is a fairly obvious one, and not too risky at this point for her to say. the tail wind of a falling dollar, will have a lot of influence from here on out. And again, I think Trump better be careful what he is asking for in terms of a weaker dollar, especially if he runs again, and that could be a very big if, since the stock market could start crashing before 2020, and as much as Trump has bragged about the perpetually rising market, if it starts falling like it should, he is not going to want ANY piece of that and say adios to the American’s who supported him, and he’ll say thank you for the 4 years.
Mike R.
You are talking about a FIAT CURRENCY, it has only one way to go and that is to Zero and the dustbin of history.
Jallen
Greg,
This is really bad news.
https://www.agweb.com/article/farm-loan-delinquencies-highest-in-9-years-as-prices-slump/
One of my closest friends is a seed developer for Missouri certified seed co. He says the vast majority of their funding comes from corporate farms like Monsanto. Should smaller producers default that will put crop production directly in the hands of the corporations. Who do you think owns the vast majority of the farming corporations? Globalist. Food will become a weapon.
Tainted with Glyphosate … food is already a weapon!!
That is very disturbing, Jerry.
Also very likely.
Greg,
Great interview per usual. I have a question, considering the implemention of FASAB Rule 56, doesn’t that in turn, unfortunately, make call by pundits like Ron & Rand Paul to Audit the Federal Reserve now meaningless?
Anthony,
No not meaningless but now it cannot happen. It’s all national security.
Greg
Soon who we elect to be President will be meaningless (as it can be “anyone” the Deep State wants … “as a matter of National Security”!!
National Security has become a religion … and “Men never do evil so completely and cheerfully as when they do it with religious conviction.”
Blaise Pascal
[inventor of the digital calculator … predecessor to the modern computer used by the NSA today for National Security reasons]
I wish CAF would stop calling it FASB 56. It’s Statement of Federal Financial Accounting Standards 56. These are two different things. FASB stands for Financial Accounting Standards Board and there was a FASB 56 issued decades ago that has since been superseded that had nothing to do with the topic being discussed here. FASAB which is the entity notice in the second sentence above has to do with Federal Financial Accounting Standards. You have been making a concerted effort to say FASAB but she hasn’t picked up on it.
Tommy,
She knows what FASAB 56 is. Please just listen to what she is saying the dangers are.
Greg
I guess they could say criticizing gays or Mexicans is against national security too, and there goes the 1st Amendment.
If something is not a secret then banning mention of it is surely unconstitutional, isn’t it?
https://www.armstrongeconomics.com/international-news/politics/will-the-democrats-split-into-2-parties-after-aocs-threats/
This is eye opening to say the least.
I think it will come to pass.
Reminds me of 1968.
No matter wjatvside you’re on ..this is cause for concern
There is logic in all of us supporting AOC … divide and conquer is the name of the game … so as to destroy the Demon-rats … this should be cause for joy!!
Diane – My take AOC, Ilham Omar, Rashid Tlaib, etc, are the shock troops and are disposable. Their mission is to spew (vomit really) forth leftism, and put further cracks in the US constitution. The more discord they sow prior to the 2020 elections, mission accomplished.
Greg,
Surprise surprise surprise.
ISIS hands US operatives 50 tons of gold in Syria.
Gold is smashed down to the tune of 100 dollars.
Game is still on of harvesting and suppressing…
https://www.zerohedge.com/news/2019-03-01/us-army-takes-50-tons-gold-syria-alleged-deal-isis
Mohammad
Greg:
Have you found my alias on your site, as yet ? So far, I have outsmarted you. Told you before, you won’t find me unless I give my new I.D. Away. Not going to happen. Could be anybody but you certainly would not know it. So far, I have beat your system. This is always what happens when you try to suppress free speech. Not going to happen for long with someone like me. Just saying. I’m back, dude.
H.
You beat my system? Post the crap you were posting with your new name and I’ll take that off too. Truth is I got you to change and that is a win for USAW and everybody here who knows you are a jackass under the old name.
Greg
Boom, b####. That’s called a mic drop moment H. Craig Bradley.
Good for you Greg. It is your site; you are the boss.
As Winston Churchill said, “You have enemies? Good. That means you’ve stood up for something, sometime in your life.”
Greg,
While we are on the subject of gold and being able to get it, sometime back when Texas was first building their gold depository, there was a story that they could not retrieve their gold bullion from New York, or… because they weren’t members of COMEX. They have, from what I understand , somewhere north of one billion $ stored.
There has been nothing that I have seen in quite some time. Any ideas?
https://www.msn.com/en-us/tv/celebrity/roseanne-barr-calls-supernumbermetoo-accusers-hoes-slams-sen-kamala-harris-christine-blasey-ford/ar-BBUk7r4?ocid=spartandhp
Roseanne Barr calls #MeToo accusers ‘hoes,’ slams Sen. Kamala Harris, Christine Blasey Ford
Cydney Henderson 1 day ago
Rosie, we love you and aways will.
International Standard Version
Right now three things remain: faith, hope, and love. But the greatest of these is love. ◄ 1 Corinthians 13:13 ►
KDVR-TV Denver
Raw video: I-70 avalanche in rear-view mirror
Duration: 00:37 18 hrs ago
https://www.msn.com/en-us/news/videos/raw-video-i-70-avalanche-in-rear-view-mirror/vi-BBUkXBI
A driver captured the avalanche that closed I-70 in his mirror.
How Robin Roberts really felt about that Jussie Smollett interview
Mark Gray
https://www.msn.com/en-us/tv/news/how-robin-roberts-really-felt-about-that-jussie-smollett-interview/ar-BBUn52J?li=BBnb7Kz
In case you missed it. The wrong person’s won this years acadamey award for best actor. This guy should have won both! Brilliant criminal mind!
Man has achieved miracles in every field of human endeavor. ..Except Crime!
To bad there is a God, to bad. Could have been great! Instead, just another typical leftest political hack, fear mongerial. With an agenda!
https://www.youtube.com/watch?v=XjpkoPEn0cI
#cnnnews #breakingnews #trump
URGENT! ‘BYE…BYE…TRUMP !’ Mueller Probe Will Exposes Corruption of Dictator Trump Stupid
Mohammed Al-gasem Published on Mar 4, 2019
https://www.youtube.com/watch?v=pumCWg4T5Ow
We knew the mainstream lamestream bought and paid for, fake news mockingbird media were coming for the Donald, The Greatest Show On Earth! Grab the popecorn honey, this will be funny! Just remember, money isn’t funny. Especially when it’s ours! We the sheeple!
https://www.youtube.com/watch?v=8sC9BKDSwzs
Do we want another un- Civil War II ? Then don’t mess with Texas! Red is Texas, Texas is red!
https://upload.wikimedia.org/wikipedia/commons/d/da/2016_Presidential_Election_by_County.svg
Massive Avalanche_on M-30!
https://startpage.lenovo.com/player/article/nowthis_news-driver_captures_aftermath_of_massive_avalanche_on-5min/category/news/category/news
Ancient Rome was characterized by a sharp divide between rich and poor, a breakdown of tradition, and mores and general lawlessness, and “treacherous polarization.”
Mike Duncan
The Storm Before the Storm: The Beginning of the End of the Roman Republic
“But though there were no formal parties, it is true that there were now two broadly opposing worldviews floating in the political ether waiting to be tapped as needed. As the crisis over the Lex Agraria revealed, it was no longer a specific issue that mattered so much as the urgent necessity to triumph over rivals. Reflecting on the recurrent civil wars of the Late Republic, Sallust said, “It is this spirit which has commonly ruined great nations, when one party desires to triumph over another by any and every means and to avenge itself on the vanquished with excessive cruelty.” Accepting defeat was no longer an option. 63”
Mike Duncan
The Storm Before the Storm: The Beginning of the End of the Roman Republic
https://www.armstrongeconomics.com/armstrongeconomics101/economics/the-solution-4/
I feel for this president Greg, and for any observer he is been ambushed from every corner, latest is this:
https://www.zerohedge.com/news/2019-03-05/mueller-american-hero-says-former-trump-attorney
So this weasel is portraying Mueller as a hero on none other than ABC and indicating that :
“I mean, this is going to go through 2020. And if the president is reelected, it’ll go beyond that.”
So this weasel is already deciding on the outcome of the investigation that it will go beyond 2020 IF PRESIDENT TRUMP IS REELECTED?
And not a single investigation on Hillary?
This is too much, and too obvious that they are on a witch hunt.
Mohammad
Greg –
Thanks for another great interview. Wow. Three in a row – Armstrong/Pento/Fitts.
One question that I hope you can answer: Do you find the poster “Jack” credible after speaking with him ? Interesting theory he posted about gold price suppression. Armstrong always says that you have to have the masses on the wrong side before a major move takes place – and most (like me) are expecting a pop in gold.
Jack is not wanting to give me any identity and I am not sure if that makes the informatio0n worthwhile.
Greg
Greg hates Trolls. If you don’t I.D. yourself, he things less of you and does not trust you.
No “H,”
I just don’t like the way you think. I simply don’t find what you have to say intersting or accurate. You make work for me so, poof.
Greg
Greg,
One thing is obvious when you watch the congress in US and the parliament in UK when the representatives are debating, questioning and carrying out their daily business that they do not have teeth.
Seems to me the executive branch in collusion with the Judiciary branch had evacuated this important body from its power and it becomes more and more irrelevant.
That is scary.
Mohammad
Oh well the party is over.
https://www.theage.com.au/business/the-economy/australia-falls-into-per-capita-recession-as-growth-tumbles-20190306-p5122r.html
Hi Greg,
In Britain, we launched yesterday a challenge to the Green and Progressive Movement. Some of us have been working on money creation and money supply for over 30 years. My late uncle was a Director of the Bank of England and another retired Director told me the ‘Big Secret’ bout money creation – please read https://www.newchartistmovement.org.uk/welcome/real-greens-v-fake-greens-part-1-the-truth-about-money-creation-banking. A long read but totally based on facts. Cheers, Justin