Banks Not Going Broke, They Are Broke-Rick Rule

rick-ruleBy Greg Hunter’s

Rick Rule is an expert on investing in all sorts of natural resources, and that includes gold and silver. He thinks it won’t take a “catastrophic event” to move prices higher in precious metals.  Rule explains, “You remember the decade of the 1970’s?  The shocks to the financial system were severe but survivable.  The gold price went from $35 per ounce to $850 per ounce.. . . As you can see, I am not a young guy.  I was a finance major, and the way I learned accounting, it’s not like the banks are going to go broke, the banks are broke. . . . It isn’t a question of ongoing bank solvency.  It’s a question of real bank solvency and how long people will believe in the system. . . . If the major players had to face a liquidity squeeze, even the level of magnitude they faced in 2008, I suspect the fiscal tools available are constrained enough now that they would be unsuccessful in containing a broad liquidity base contagion.”

So, we would see bankruptcies and failures, and the Fed would have to let things go. Rule contends, “I don’t think they would have any other choice but to let them go.  My suspicion is we are going to skate through this without a catastrophic situation.  I could be right and I could be wrong, but I think in terms of the gold price, it doesn’t matter.  If the system is tested, tested and not wrecked, it will be extraordinary for the gold price.  What people fail to recognize is the simple arithmetic that you and I owe each other, and other countries, $20 trillion.  That’s $20 trillion in liabilities.  That’s 20 with twelve zeros.  People don’t focus on it because it’s almost an incomprehensible number.  Beyond that, we owe each other in the context of promises in excess of $100 trillion.  That number doesn’t come from a cranky old guy at Sprott.  It comes from the Congressional Budget Office.  How on earth are we going to resolve $120 trillion on balance sheet and off balance sheet liabilities before we consider state and local debt and underfunded pensions?  My suspicion is we get out of this in one of two kinds of defaults.  A formal default where . . . they say to 64 year old Rick Rule that we made you promises on Social Security, Medicare and Medicaid, but we lied.  We say to holders of U.S. debt where we gave a full faith and credit promise that we lied.  Those are official defaults.  That requires telling the truth, and I think that is unlikely.  I think we will have a series of unofficial defaults where we devalue the net present value of the obligations, which is a different way of saying we devalue the . . . currency, gradually like we did in the 1970’s.  I think that will have the same impact on gold and silver prices.”

On the best thing President-elect Trump can do for America, Rule contends, “If Mr. Trump can roll back restrictive regulation in the United States, we are our own greatest enemy. If he can make the United States great again in the sense he keeps us from competing with ourselves, then we will see a spectacular economic boom in this country.”

Join Greg Hunter as he goes One-on-One with Rick Rule, President and CEO of Sprott U.S. Holdings Inc.

(There is more in the video interview.)

After the Interview:

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  1. ross

    Give me Bill Holter or Rob Kirby any day. Rick seems to be too smug and arrogant for my likings. How can $2.50 per hr labor in China be more efficient when those workers cannot afford to buy the products they produce.? It is subsistence slave labor Rick and you seem to think this type of deregulation will be good for the USA.

    • The Seer

      I agree. Rick is not a visionary in my book. Nothing new here. Does not jive with recent Clif High, either. The signs are all here. Complete restructuring, write offs, new platforms, undoings and redos, jail time, etc etc Lots of jolts coming. Not biz as usual.

  2. Tin foil hat

    The late singer Prince left behind $25.4 million worth of real estates, $110,000 cash and 670 oz. of gold bars which worth around $800,000. He owned zero stock and bond.
    Donald Trump only have around 200 oz. of gold.

    • al Hall

      And the point of this is what??

      • lastmanstanding

        Prince Rogers Nelson, born a regular guy from Minneapolis, Minnesota with talented, honest parents had the gift of music. While I didn’t care for it at all, he was realized and snatched up the bastards that run this planet and exploited by them. I don’t think I need to explain any more than that to you Al.

        His point was, that Prince had his assets in a majority of the items that everyone talks about here daily. The fact that he was “different” than most of us here is a moot point…proof that he believed in real, tangible, earthly items.

        Personally, I believe that he woke up and realized that he was being used and unfortunately had no way to extract himself from it…just like Michael Jackson. Without getting into a big discussion of these guys lives, ultimately they were destroyed by the “fake” media…and perhaps themselves.

        Once your awake in the music biz and your exploitable talents are no longer useful and a detriment to those who are using you to control a certain demographic, you become expendable. It is pretty easy to see who is in favor at the moment and who could be next.

      • Tin foil hat

        al Hall,
        Prince didn’t hoard gold because it’s shiny, he did it for an alternative saving outside of the system. Yet, he didn’t hoard excessive amount of gold.
        Prince’s gold hoard is 8X more than his cash in the bank. He had bare miminum of cash to handle daily expenses which is indicative that he had no faith in the financial system. Yet, his gold allocation is less than 0.4%.
        My point is one’s ability to produce revenue, being a farmer, doctor, energy producer, POTUS ….., is more reliable than hoarding gold in preparation for the coming reset.
        Personally, since my ability to produce revenue which can keep up in a hyperinflationary environment is limited, I have 20% allocation in PMs. If the reset were not disorderly, I would be fine with or without the PMs.

  3. Rick Geisler

    I listened to Rick Rule and he had some good info but there was this overriding feeling that he wasn’t totally forthcoming. That he was holding back on things about the economy he knew for fact but would not disclose. He said 2017 would be fine then said black swans could devastate everything. Ok Trump could succeed but Deep State could kill it all. From one Rick to another I would love to know what you were not trying to tell us. Or am I ready for the basket weaving group at Club Coo Coo?

  4. This sceptred isle

    Those that doubt gold is money have to answer one question: Why do central banks hold gold?

    • Matt In Pa

      Looking at CNBC top left corner shows Gold and Silver prices. I’m convinced

  5. This sceptred isle

    The Achilles heel of the paper precious metals complex is silver. Gold contracts can remain paper forever or be settled in cash whereas industry demands physical silver.

    • Guest

      According to Ben Bernanke, “it’s a tradition.” 🙂

      • This sceptred isle

        Who would have thought central bankers would be so sentimental…

  6. Lars

    Wonderful !
    Finally just a straight forward intelligent explanation of the
    reality. No drama, no doom and gloom just well thought out
    and lucid. Those with level heads using logic and deductive
    reasoning make good decisions. Forget the drama queens,
    Rick Rule is successful for all the above reasons.

    • David Logue

      Well said

  7. Anthony Australia

    Simply brilliant Mr. Hunter!
    The pendulum has swung! Keep it up kind Sir.

  8. Frederick

    He is spot on about precious metals and the dollar I’ve noticed any slight dollar weakness is accompanied by a surge in the metals so by that gauge if the dollar has a substantial pullback I think you could see a huge rally in the metals So having some as an insurance policy seems VERY prudent In physical in your possession of course
    People will be quick to condemn him based on the fact that he sells metals but this is wrong and shortsighted on their part

  9. David John Williams

    Hi Greg,

    When I first heard about the Goldman Sachs appointments I didn’t know what to make of it either but Paul Craig Roberts made some good points worth hearing in his interview with Max Kaiser. I have come to trust and respect Roberts greatly. Here’s the link if you haven’t seen the interview.

  10. Dan

    Haven’t commented for awhile although always listen. WOW, I really enjoyed listening to Rick Rule. I like how articulate he is & his nice even delivery as opposed to some of the other “doom porn” commentators. Couldn’t agree more with his assessment re: the 20 trillion (or 120 trillion) owed. Am afraid that Trump is going to just do more deficit spending to try to stimulate the economy (where have we heard that before?). Also agree with his view that you can tell a politician is lying by the fact that his lips are moving! Sadly, Trump has already backed off of many of his campaign promises & his appointment of a former Goldman Sachs honcho is most telling, although I remain hopeful. If he leaves the Federal Reserve intact (with no audit), I’m afraid that it will be more “business as usual” for the most part!

    • Chip

      Let’s hold judgement until after he’s sworn in… Chip

  11. Mike from the North

    If you want to know what is coming in the next few weeks and months….LOOK BETWEEN THE LINES.

    My gut has often been right when it comes to the big picture of things.

    My gut tells me the next few months will be significant in developments.

    • Frederick

      Just look at how the DOW is struggling to break 20 K It appears it cannot and when this occurs with any asset it usually means a crash or big correction is coming

  12. jim c.

    All of these predictions of PM`s only going up slightly shows there lack of knowledge of the manipulation going on. PM`s will either stay were they are or skyrocket higher. Manipulators can`t force it down too much lower or minors will go out of business and physical buyers of it will gobble it up so fast to the point of depletion. it will only go up huge when they loose control of manipulation. And I believe manipulation is coming to an end very soon.

  13. Bill Howland

    Yup, Gold and Silver to be up slightly for the year, USA starting to run a bit more efficiently and people reinvesting in the USA due to higher perceived efficiency – at least compared to Europe and Brussels. What’s not to like?

    • Frederick

      What’s NOT to like you ask? Well for starters the derivatives and the debt levels Or the actual unemployment rate of 24 percent Or the velocity of money at 60 year lows Need I go on?

    • This sceptred Isle

      “The U.S. Federal budget deficit is $441 billion as of the most current budget estimate. That’s for Fiscal Year 2017 which covers October 1, 2016, through September 30, 2017. The deficit occurs because U.S. government spending of $4.073 trillion is higher than its revenue of $3.632 trillion.”

      There is nothing efficient about the American economy.

  14. Concerned american dad

    Great- so basically yes- they are in control of their ststem and will continue to be. It has been shown that they rig it and the consequnces if the are…………que the crickets. Criminality goes unpunished and move along. Have you gone grocery shopping lately? Have you notice that a box of crackers is the size of a paperback and the crackers themselves are tinier than they once were. Seems like you can go ahead and book Bill Holter for Jan 2018, maybe then we’ll be a couple weeks away from something happening at that point. Until then, continue the slow grind. One thing of note- the political system has so much wasted time built in, where nothing constructive is actually accomplished.

    • Guest

      I share your sentiments. It seems that nothing matters anymore.

    • This sceptred Isle

      good old shrinkflation. Still it is good for those following a diet!

  15. XuscitizenSweden

    …..sorry for the delay.
    I just would like to say to You and your Family, along with those you hold close,
    *Best Wishes for a Happy & Healthy 2017* ad infinitum.
    I along with many truly appreciate your dedication to ‘the cause’.
    Best Regards X-

  16. Chip

    Let this sink in for a minute, one trillion seconds is 32,000 years!!! No, that ain’t no typo, thirty-two-thousand years… Chip

    • Diane D.

      Chip, math teacher here. Wow, I had to check your math. You are absolutely correct. That is an unbelievable number and a great way to express a ‘trillion’. I’m using that in class. Thanks!

    • Paul ...

      So a Trillion dollars is spending $1000 dollars per second for 32 years … or $32,000 dollars “per second” for one year!! … and dilution of the dollar is occurring “at even a greater rate then this” … why people still have “confidence” in these US dollar IOU’s is beyond me??

    • Mike R

      Chip great analogy for our debt situation. Very very very few people can fathom what $1 trillion dollars really means, nor how long it would take to pay that level of debt off versus amount of taxes brought in annually by the IRS. So $20 trillion doesn’t sound bad, because it sounds just like ’20’ of something. We used to talk in billions. So people just think its a few more zero’s. $20 trillion simply is not repayable. $120 trillion in unfunded liabilities is worse than not repayable – its the end of life as we know it. We (our country) has built a life than cannot be lived, by anyone, in any decade from here on out. Standards of living, (middle class), right now is a complete fiction. If you don’t find a way to completely re-orient your life, you are going to get sucked down the toilet with everyone else.

      Personally, I don’t think people in our society today, on an individual level, have the courage to dare imagine, how much our living standards could really drop. I doubt they wish to even go to those thoughts, because they are worst than any nightmare you can have today. More than 3 billion people on this planet, earn less per year, than any of you do in a day. Even if you are on minimum wage. You never come close to ever seeing any of these people. There are no homeless on the streets of USA, that have it as bad as 3 billion people do, who literally live from hour to hour. We as a society cannot ever donate enough to support these 3 billion people. So we take that completely out of our minds. Whatever you would provide in the way of value, food whatever to these 3 billion people, 98 cents of every dollar is eaten up to just get that level of ‘value’ to those people. What we don’t realize however, is that for all that we THINK we have, with that $20 trillion alone in national debt, not counting corporate, state, city, etc debt, we are really just as close if not worse off than those 3 billion people. Because they are literally ‘surviving’ with next to nothing, while each of us in America, at least for this minute have thousands of times more than these 3 billion do in terms of energy availability, transportation availability, food availability, clean water availability, clean air availability, sanitation availability and on and on, besides even our income or wage availability.
      The ONLY reason we have any of this, is due entirely to that $20 trillion dollars of national debt, many trillions more in unfunded ‘promises’ that represent at the very least $120 trillion, and globally at least $300 trillion in debt for the other 3 to 4 billion on this planet, that are not those very very very poor 3 billion who literally ‘have’ nothing.

      In 8 hours, the other day, our national debt went up $100 billion dollars. Does anyone here still believe that even individually, we are not living WAY above our means,let alone collectively ??? I don’t know the answer of how I’m going to survive this, or help my family survive this, but I certainly do know without one iota of doubt, what we have here in the US for our standard of living’s is going to change. I don’t know that if I had $10 million, that I would feel anymore comfortable than having just $500,000 in some form of ‘wealth.’ Because the system around each of us, is all interwoven, and inter-dependent. Something is going to give. Don’t know when, or how, but the sooner you individually contemplate what the worst is that can happen, the sooner you might be able to prepare to some small degree. It might be so tiny, that it adds just a few extra days to your life.

      • JC Davis

        Mike R Thank you for this post.

  17. Gadfly

    Another gold bug. Right now, the investment class with the strongest relative strength is U.S. Equities, followed by International Equities. Thirdly, comes Commodities. So, what would it take for precious metals to move from third place to first place? Entirely different global markets, that’s what.
    What else might it take? A serious loss in confidence in Government by most people. Right now, voter and investor confidence is euphoric over President-Elect Trump and all his promises. They have real HOPE. So, we have to wait and see if first Trump falls flat on his face. A good bear market (-25%) and recession might cast some doubt on Trump. Until then, gold is not going anywhere fast. In a recession, gold would initially go down with everything. ( Ideal time to buy-in or add to your position). Use your own common sense and eventually, every gold bug will turn out to be correct- Someday that is.

  18. Jerry

    The bond market is collapsing globally.

    I fully believe that in an attempt to save the global markets you will see the IMF transfer many, if not most, of the emerging markets (BRICS) into the Chinese alternate exchange system in the coming weeks. The lifeboats are launching from the U.S. Titanic. Will it work? Probably not, but what other choice do they have?

    Bill Holter was absolutely right when he talked about liquidity seizing up in the system. You can see it in the Federal Reserve Money Velocity Charts. The 4th quarter report should tell us exactly how much time we have left before banks are forced to lock their accounts down.

    • Greg Hunter

      This is the financial elephant in the room that nobody wants to talk about.

      • Jerry

        Here is the last Money Velocity Chart published 12/22/2016

        It doesn’t take a rocket scientist to see where this is headed. The only time banks make money is when money is changing hands. You can bet they will freeze their accounts before they default on their payments because that is what banks do. To avoid a panic they have no other option but to spin the normalcy bias in the media to keep the herd from getting spooked. The reality is we are sitting on top of the biggest debt bubble ever created in history.

        I find it humorous to listen to those that spin the debt instrument theory. No business on earth can operate with unsustainable debt. At some point money has to be exchanged in order to support taxation. Business don’t get to print money out of thin air like governments do, and when there’s nothing left to tax, governments collapse to.

        • Jerry

          Did I say the banks were trying not to spook the herd? I guess the PBOC got the memo.

          Really what else can they do? Curbing capital outflows is just another politically correct term for “bank run”. Imagine how you would feel if CHASE Bank told you where and how to spend your money. Can’t happen here? Wrong. The beta test for western banks is going on right now in India.

        • Mike R

          Keep in mind that M2, also includes M1, which is the amount of money in circulation. Therefore, the Velocity can and will drop if the FED is still injecting money into the system. I believe everyone thinks that the FED is not still injecting money (i.e. No QE), but that is not the case at all. They have to keep injecting more and more money, as much of the existing money is going to pay off debt, which is where ‘fiat money goes to die.’ MZM is no longer reported, or M3 is no longer tracked, which would be an indicator to see that clearly a lot of money is continuously being injected. The apparent ‘value’ of our currency units, is not showing up yet as inflationary as it would be, because so much money is going to pay off debt, or ‘dying.’ The problem with this, is that we forget that our entire system is debt based, and therefore more and more debt has to be created, and that issuance of ‘credit’, simply cannot stop accelerating. The acceleration portion is the most important, not just growth. Rate of growth has to be there. Without the acceleration, they could not keep the entire system afloat. Picture it this way…lets say you want to ride in a hot air balloon, and you say hey this is great and we can keep afloat as long as that balloon stays the same size, and the air inside of it is heated, and stays lighter than the atmosphere. In a way, the debt issuance is like that air, except with our system, there is a leak in that balloon, and now you not only have to heat hot air, but you have to apply more and more heat bc new air (colder air) keeps coming in. The money that is going to pay off debt, has to keep increasing at a faster rate, just like it would be if you had to keep heating more and more air coming into that balloon. Worse the higher you go the colder the air outside of the balloon gets, so you never reach a stable amount of heat, to allow you to stay afloat. Our monetary system is thus similar to that hot air balloon, with a huge leak. This may not be the best analogy, but suffice it to say, there is no way possible that the FED can stop creating more and more money, and no way that we can stop or even slow down the issuance of debt, unless we are willing to just let the system collapse. Politically, there is no soul on the planet, who is willing to let that happen on their ‘watch.’ This is why politicians have suspended having any ‘debt ceiling’ (and before they did that it was all just rhetoric anyway about having one), and have all but completely abandoned the concept of a ‘balanced budget.’ Any President or politician who ever promises a balanced budget is lying through their teeth. Its a mathematical impossibility with the design of our financial system. The US also HAS to remain a reserve currency, to allow the system to even exist. We also can never abolish the Federal Reserve, because of this need for continuous monetary injections. To allow that primary reserve currency status to continue, we need to continue to have the biggest military (by far), and spend at least twice as much as the next closest nation. At some point this ends. Just as the Roman empire did, that had to keep on conquering more and more land, and making a bigger and bigger military (plundering resources to ‘feed the beast’) until they couldn’t. They devalued their currencies many many times, even issuing new ones. Then it ended. Literally, our path is no different than that of the Roman empire. Roman Empire lasted about 500 years. We will probably not make anywhere near that long, and likely end at half that long. Its very hard to say though. We could go another 50 years, or even 100 years. Or less than 10.

      • andyb

        The liquidity issue is bigger than the elephant; it is TRex, and the only eventual way out is hyperinflation, or as Jim Willie says, a systematic USD devaluation. There will be a triggering event. It could be the EU breakup which now seems to be set in stone. Or perhaps, a major TBTF bank defaulting in a transparent way. By that I mean that technically, in 2008, all Western TBTF banks had defaulted, but Bernanke’s $20Trillion papered that over, but it took a FED audit 2 years later to reveal it. Or as Rule suggests, a final implosion of the Sunni/Shia conflict restricting oil supplies. I somewhat agree with Rule’s contention that we may escape the Big One and just muddle along. After all, many of us didn’t think we would survive 2015 (Armstrong’s cycle prediction of 3rdQ15, and the Shemitah), much less 2016. But as I am listening to the Tillerson Hearings, it is obvious that the anti-Russian psycho war mongers are doing their best to hamstring Trump’s stated desire of peace, not war, and to proceed apace with the PNAC agenda of constant “humanitarian” interventions to maintain what little appears to be left of US hegemony.

      • Mike from the North

        President elect Mr. Trump has a very short window of opportunity.imho

        He either is a good guy or he is not and we will know as soon as we see what he does with the ESF.

        He also needs to honestly address the debt situation very quickly.

        The world cannot move forward without changing course. The time for band aids and distractions is over.

        The time to bring back the rule of law is now. FAILURE TO ACT ON ALL OF THESE MATTERS is paramount to the healing process.


        Are you going down in history as the man that attempted to save the world or the man that took the world to the edge?

        May God be there to help you.

        • susan

          When did the phrase “rule of law” come about? Not too long ago. Whatever happened to law and ORDER? We need to get back to law and order in this country.

    • Tin foil hat

      Thanks for the heads up.
      The IMF needs to create 50 billion euros X ??? of collateral to meet the shortfall in the ECB to avoid another liquidity crisis. Perhaps the systemic change could simply be allowing gold as a qualify collateral with ??X leverage. Gold price would inflate through the roof but I wonder if it would/could be contained like the real estates and stock markets without causing much ripple effect to the general economy.
      IMHO, I don’t think IMF should/would risk global systemic instability by transferring anything into the untested Chinese alternate exchange system until it’s back by gold or other hard assets.

    • Jerry

      More evidence piling up that China and the BRICS are preparing to break away from the dollar peg.

  19. Hugo Stigletz

    20,000 billion***** not 2,000. Great interview!

    • Greg Hunter

      My Bad, Thank you Hugo!!!

  20. Papa J

    Rick, I love your collection of helmets. I hope you have some of the weapons of the eras to go along with them.
    Interesting interview that brings us away from the big gloom and doom which unfortunately I believe will happen soon. I just think we need a cleansing of the human race.

    • Greg Hunter

      Thank you Papa J!

  21. john duffy

    Time for good men to stand up and put a stop to these crimes against innocent children by these beasts!
    F.B.I. Investigating Threats Made Against PizzaGate Researcher

    • Frederick

      Thank you from the kids for your VERY relevant post Mr John Duffy

  22. john duffy

    Rick Rule made the comment that it would cheaper for the US to buy the oil rather than to steal it. Its not about the oil, its all about maintaining the petro dollar, which allows the US to keep the reserve currency and fund its military complex.

  23. francis m reps


  24. Russ

    Thanks Greg, probably the best Rick Rule interview I’ve heard.

  25. Errol[in like]Flynn

    US Media, Intel Agencies go Full Throttle against Trump
    Wednesday, 11 January 2017
    After unverified reports surfaced that President-elect Donald Trump once had Russian prostitutes urinate on each other in a bed the Obamas previously shared, the #GoldenShowers hashtag shot up the trending charts on Twitter.

    Trump Unleashed: Calls CNN, BuzzFeed Fake News, Failing Pile of Garbage
    Wednesday, 11 January 2017

    The war between Trump and the media in general, or at least CNN in particular, to reach biblical proportions!

    Aussies are ready to Revolt and Drain their own Swamp
    Tuesday, 10 January 2017
    Drawing on shocking results from his recent research that showed Australian voter satisfaction at a record low, ANU political professor Ian McAllister told the latest controversy surrounding sidelined Health Minister Sussan Ley’s use of taxpayer funds was exactly the sort of behaviour by politicians that’s stirring an electoral revolt.
    (9 hours ago) Mark said:
    She claimed $1.7 million on travel related expenses in 2 years. It’s an absurd amount of money and politicians should be forced to live on the age-pension like the rest of the country when they retire. Then we will see how quickly they are willing to make cuts to the current age-pension!

    Canadian Judge Suspended for Wearing “Make America Great Again” Hat
    Tuesday, 10 January 2017
    A Canadian judge in Hamilton, Ontario, has been suspended after wearing a Donald Trump hat on the day after Trump’s victory in the US presidential election. The judge, Bernd Zabel, reportedly made explicit pro-Trump comments in court. Both actions violate a judge’s obligation to be politically neutral.

    • Charles H

      But Trump IS politically neutral. Both the Dems and his own party hate him; plus he isn’t even Canadian. This is an indication of the depth of PC hatred out there. PC is most often a prohibitive control: but if you hate the ‘right thing’ – it’s totally justified, by extension.

  26. Roger

    Yeah we will see

  27. Flyboy

    Seth Meyers Interviews Kellyanne Conway About President-Elect Trump
    Late Night with Seth Meyers

    Agree or disagree on policy with her but you have to give her credit for running the campaign, that succeeded in giving we the people in flyover, the greatest upset of the coastal sheeple, so far, in their lives.
    But we must give credit where credit is due, to president Qbama, for personally doing what no republican could ever do, completely destroying the democratic stranglehold on the country, they lost over 1000 seats nation wide, the senate, congress and now the presidency. Thank you Mr. president and thank. . . thank God?!

  28. Bill

    RE; The Donald is a Russian agent/he attended sex parties. Aside from the slander, what does the msm expect to gain from this?

  29. Pinocchio

    Good news !!!! One of my sources inside Federal Reserve just told me (via Skype) that Federal Reserve will issue a special paper currency to pay all of USA government’s debt. It is 1 trillion dollar bill with the face of King Kong on the front side and the picture of Georgia Guidestones on the back side. Above the picture there is the Federal Reserve’s new motto in bold letters: “In God we trust. The rest is a Ponzi scheme.”. On the bottom right corner there is a safety hologram showing Rambo holding a dynamite.

  30. henry

    While the $20 trillion federal debt and the $100 trillion unfunded liabilities are concerning, shows that, according to the Federal Reserve, the total hole that we are in is $67 trillion (federal debt, state debt, local debt, mortgage, credit card, student loan, …) and $104 trillion in unfunded liabilities. That makes $171 trillion. If this number is divided by the number of taxpayers, the result is $1.475.000. Furthermore, the median income of a worker is $30,000/year. These are all raw numbers from official sources. It doesn’t take a genius to see that this debt is not payable. Everyone is pretending that it is payable. When people realize this, it is difficult for me to predict what the government will do.

    • Mike R

      Ha. So everyone making $30,000, would only need to forfeit their entire income for 49 years, and it could be ‘paid off.’ Talk about ‘indentured servants.’ The debt $ trillions keep growing annually, and the largest segment of the boomers, keep retiring at the rate 10,000 retirees per day, so they are sucking those $$$ from the system in ever greater quantities, while not generating any new income into SS. Such a beautifully crafted Ponzi scheme. (sarc)

  31. Johnny McTonny

    No Jubilee years ever done. Now you know the real reason.

  32. Flyboy
    Kelly Anne Conway_Unverified Trump-Russia intel claims

    Trump holds first press conference since winning US Presidential election (FULL)
    Streamed live 4 hours ago, Posted here for our overseas USAWatchdogs

    The event comes amid reports about Trump being influenced by Russia that he has denounced as ‘fake news.’
    This video is from RT frankly because they got the best one out there of many from the government corporate owned/cia influenced/ shaped/ corporate media, that I must presume are of poor quality because they know they’ve been caught with their pants down. If your a Trump fan you’ll find it very entertaining. Chalk up another one for the Trumpster!

  33. Robert Lykens

    Greg, I love your guests who, like Mr. Rule and John Williams, are calm, reasoned economists who base their opinions on statistics and economic fundamentals.

    May I again make an unpopular statement and remind everyone that the Paris Conference on the Middle East begins this Sunday.
    Please pray that God will strengthen the positions of Israel, Prime Minister Netanyahu and the Israeli diplomatic corps and turn back the spiteful machinations of Satan, who has sought to destroy Israel for its role in bringing into the world the Redeemer – the Jewish Jesus Christ.

    “Let them all be confounded and turned back that hate Zion.”
    – Psalm 129:5

    • susan

      I agree. Everyone needs to continue praying as we did during the election!! Please continue to pray everyone. God hears your prayers.

  34. Diane

    This is interesting…..what do you guys think?

    He is leary of Bitcoin, but predicts people will hoard gold coins in troubled times. I suspect people will want to have old used real silver coins because they would be recognized by more people.

  35. StClareSeeds

    I think you should consider having Charlie Johnston on for an interview. He is an alleged prophet with a critically important message for humanity. If he is correct (and it looks like he is), we are in for a really rough year.

    Please please please read the following article:

    • Julia

      Stclaireseeds: I believe people are already aware of the danger and are praying.

      • StClareSeeds

        That doesn’t mean we should just stop trying to get the word out. That’s why Greg has his website with new interviews all the the time. Greg can never be sure which interview might convert another Liberal, I thought the previous link would be another source for Greg.

        Not everyone is aware of the danger, that’s why half the county voted for Hillary. If everyone was aware of the danger, the USA wouldn’t be in the problem that it is.

  36. eddiemd

    Off the subject for a moment.

    The lastest “fake news” attack against Trump in regards to CNN and Buzzfeed. I don’t understand why the use of the wording “fake news” when the Trump people should use the term “propaganda” or “disinformation”. I believe that Trump should begin to change the narrative and label the disinformation for what it really is. He should point out that these corporate news services are propaganda outlets for disinformation.

    That brings up McCain. This dirt ball is a public enemy. He along with Lindsey Graham represent a clear danger to the Republic. These two traitors should be brought up on charges. Perhaps Wikileaks has background email traffic on these two (among many other criminals; Leahy, Feinstein, Pelosi, Ryan, McConnell) that can be released.
    But it is McCain that represents the most danger with his release to the FBI of an obvious smear against the next president. McCain was reelected here in Arizona because his opponent, Kirkpatrick, would have been a total disaster.
    From the perspective of a physician, I believe that McCain more than likely suffers from early dementia. I highly suspect that during his captivity of 6 years, he was deprived of essential vitamins (B in particualr) and minerals that resulted in some brain damage. A chronic deficiency of B12 can result in permanent neurological damage. Over a period of 6 years I suspect that he sustained permanent damage.

    I would recommend neuropsychological testing for McCain and any congressman or woman over the age of 70 to assess fitness for duty. I also believe that a review of the medications that these people take is appropriate. There are a number of medications to include anxiolytics (benzos), sleep medications, pain medications, antidepressants, and mood stabilizers that can alter thought processes. Throw in some martinis and you get the picture.
    The department of transportation excludes commercial drivers and pilots from driving/flying with certain medication use. Why should people in congress agitating for war with nuclear powers be excluded from the proper screening for psych/mental illness and or perscription drug use?

  37. flattop

    GREG; While listening and watching our senators vetting the Secy of State and Home Land Security Candidates, it occurred to me that its all show and tell. The Senators wishing to bloviate and inflate their EGOs more or less.

    • Greg Hunter

      You are correct Flattop.

  38. Carolyn

    Thank you Mr. Hunter for bringing on Mr. Rule. He gave interesting points and coincides with others pong of view in a smoother version. I defenetiley concur with others comments.

  39. Lord Ha Ha

    Slain DNC staffer’s father doubts WikiLeaks link as cops seek answers
    By Malia Zimmerman Published January 10, 2017
    Six months after a Democratic National Committee staffer was gunned down on a Washington, D.C., street, suspicion that he may have been the source who passed incriminating DNC emails on to WikiLeaks persists despite his own parents’ strong doubts

  40. donna

    Could you or one of the people commenting on here explain to me why the debt clock shows gold and silver price today as $1000 slv and $9000 gold? I see people commenting on this from time to time but do not understand what it actually means or why the gov. would let banks manipulate the price of metals to just advertise the true price on the debt clock page? I hope I do not sound like a complete idiot but figure if I don’t ask I will not learn and the people commenting on this site are the best. Thank you.

    • This sceptred Isle

      Not sure. Is it the amount of government debt divided by the number of ounces of gold and silver? I wonder what organisation is behind the debt clock website. Is it a governmental agency?

    • Paul ...

      Donna … the debt clock simply divides all the fake dollars the Fed has printed into the world … by all the ounces of (gold or silver) that exists in the world … to come up with their number! … however all the fake dollars the Fed has admitted to printing and what they have really printed is most probably two(2) to ten(10) times higher … so we must multiply the debt clock numbers by between 2 and 10 … to get the “true value” for gold and silver!!

      • This sceptred isle

        Agreed. The fed has done much more quantitive easing than they have admitted to otherwise there would have been a more violent reaction in the markets.

        • Greg Hunter

          I agree TSI. When we eventually see the off-balance sheet debt everybody will be stunned.

  41. al

    No fake news here.. Greg.. you’re awesome! As for gold, I don’t pay attention at the minor swings up or down. I pay attention to $100 moves on gold in a day! That’s when it’s over for the current system. Until then, meh… $1,400 gold doesn’t excite me at all.

  42. Walter Baumgarten

    Excellent Greg, a great interview! This fellow is very intelligent and I was very impressed in how he put forth the points that he did. Yes the American dollar is desired by those who invest because the Fed has more guns than anyone else and offers the biggest returns on investments, but it was not that long ago that Bernie Madoff was able to offer similar profits for his clients. We all know how that one ended, eh? A lick and a promise from the Fed today may have investors flocking in for “returns” but it will not take much for that happy dog to turn rabid and bite the hands that feed it, for after all, the deception and the money printing cannot go on forever. And remember my friend, when gold and silver go up in “price” it is not so much a case of the PM’s gaining more value, but of the pictures of dead presidents losing the value that they supposedly have. Be well.

  43. Jocko
    Obama Says He Told Trump to Trust Intelligence Agencies
    1 minute

    Trust me i’m a doctor, trust me i’m a lawyer, trust me i’m a spy? Trust me i’m your hacker! I’m your used car guy. Trust him he’s a politician who came in from the cold.

    Ex-CIA leader: ‘Surprised’ unverified intel given to Trump

    It’s “very important to remember that sources, even the best CIA sources, get things wrong all the time,” Morell added. “They lie to enhance their credibility, right — to try to get more money.” FAKE NEWS: There is hope for our guy the psycho?

  44. DLC

    Well into a nuclear winter there will still remain in DC — John McCain and the cockroach.

  45. Jocko

    Barry Obama’s new gig, Minister of Propaganda! He set up new law and position as a new job after presidency. The golden thorn in Trumps you know what.
    Max Kaiser is upset! Pushes back___WOOOO! Huge bailout scheme, You scratch my rear, we’ll scratch yours, monopoly_FAKE PROPA B.S.!

    Buford Pusser. Buford Hayse Pusser (December 12, 1937 – August 21, 1974) was the Sheriff of McNairy County, Tennessee, from 1964 to 1970. Donald J. Trump is the new sheriff [Buford] in town and mad Max [ax] Kaiser is seriously considering deputy sheriff! Watch out scum, their coming. . .
    Born in Sweden, to a Russian Jewish mother and a Swedish father. Lola Iris Viola, a big band leader, actress, and singer, and Birger Ragnar Svenson, a personal driver, athlete, and bodyguard for the King of Sweden. Bo emigrated to the United States and then, when he was 17, joined the United States Marine Corps, serving until his honorable discharge six years later. His first state of residence in the United States was Georgia, where he became familiar with the rural Southern accent he later employed in some of his roles. . .Walking Tall 2 (1975)Full Movie Buford’s back… and this time he’s out for blood. Sheriff Buford Pusser continues his one-man war against moonshiners and a ruthless crime syndicate after the murder of his wife in late 1960’s Tennessee. (1975)
    Kenneth Bennett5 months ago
    No 2 way’s about it, Buford was the man,,,I hope we get Trump cause I really beleave he’s gonna be our [AKA]the united state of America’s MAM….wish trump the best.go usa go usa 

    serenaleagh grace5 months ago
    What a man what a man what a mighty fine man, Tailem bend South Australia, luv you b

  46. glen charles

    is play dough a good investment right now?
    its grabbing more headlines than gold just now,

  47. Zak

    Isis? Sunni vs Shia?

    Does he no realise that Isis is a CIA/Mossad invention for proxy terrorism?

  48. Errol[in like]Flynn

    KellyAnne Conway, Anderson Cooper clash over Russian intel report
    CNN Published on Jan 11, 2017

  49. Jerry

    I would take this as a warning sign that China is getting ready to totally decouple from the dollar.

    PIMCO is giving its investors a heads up before the Chinese make their move. Should that actually happen, the dollar will most likely be competing against a gold backed Yuan in the market. The Chinese have beat us in manufacturing and now they’re about to give us a lesson in trade wars. As far as gunboat diplomacy? Forget it. The United States is in no position to take on both Russia and China and the BRICS know it. Trump at this point should just shit his mouth before he sticks our economic foot in it.

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