Collapse in Credit Coming-Chris Martenson
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Co-founder of Peak Prosperity and economic researcher Dr. Chris Martenson warns the next financial collapse will start with a default in the credit markets. Dr. Martenson explains, “Demand is down. Supply is down. That’s the underlying story. We think the first part of this story is these credit instruments will get wiped out. It could be a sovereign default. Who’s first? That is the question in the world. Is it going to Venezuela? Is it going to be Brazil? Could it be Turkey? Interesting story about Turkey with the downed Russian jet. We just don’t know. If we have a big sovereign default in one of these countries, that could be the trigger. Maybe it’s a company like Glencore that would be a repeat of Lehman. We just don’t know, but we do know there is going to be a collapse in the credit, and then we will have the next stage of this where the central banks freak out one more time and pour more money into the markets. We believe, this time, money will be given to people like you and me. . . . Once the Federal Reserve sends you and me money, whether it’s a tax rebate or check, it doesn’t matter. You should run, not walk, and buy anything you possibly can with that because that is the next stage of this story. Stage one is collapse.”
Can’t this go on as long as the Fed prints money? Martenson says, “The way we have constructed the economy is unsustainable. Everybody knows that. You can’t grow infinitely on a finite planet. Look at the debt. We have added $57 trillion of new debt to the world since the crisis in 2007–$57 trillion. How much has the global economy grown in that span of time? The answer is about one-fifth as much. Anybody knows you can’t grow your debt faster than you are growing your income. That’s the system we are trying to sustain. We don’t think it’s sustainable, which is why we say people need to begin preparing, but we think there is a way to prosper too. Everything we see now is confirming that we are at the beginning of a very long period of very disruptive adjustments.”
On the unsustainability of ever expanding debt, Dr. Martenson contends, “The United States has doubled and redoubled its debt and gone through five doublings of our debt in four decades. If we want the next two decades to look like anything like the last two decades, we are going to have to see not one, but at least two doublings of our debt. Really? How are we going to create more debt by a full doubling? The answer is–we won’t.”
Join Greg Hunter as he goes One-on-One with Dr. Chris Martenson of PeakProsperity.com and co-author of the new book “Prosper! How to Prepare for the Future and Create a World Worth Inheriting.”
(There is much more in the video interview.)
After the Interview:
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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.
If you are in the US or Canada, you need to watch TLBTV: The Money Changers – Banksters – 26 November 2015
It is 2-hours long covering current issues with an action plan that include:
1) build-up of state militias
2) taking control of money and banishing all criminal banksters for ever
3) states retrieving all control ceded to the Federal Government owned by Crown and Vatican
4) use Iceland as a model
5) get rid of centralized insurers that control medicine, medical drugs, & social security.
6) do all of this peacefully – if the Federal Government opts for violence, then be prepared to make a stand. Americans are well armed. American servicemen are awake and know who is the real enemy.
7) transition will be difficult but necessary if you don’t want to be slaves forever and to export terrorism and enslavement all over the world.
….
Oneno
I think most people on this site realize the International Bankers are in control and THEY use the governments of the world to slowly tighten the noose of tyranny and totalitarianism around the throats of the citizens of the world. The only answer is Jesus Christ and He promoted “SEPARATION” from the world system. The original Greek word for CHURCH means CALLED OUT…Jesus said COME OUT OF BABYLON! We should all quietly and PEACEFULLY separate ourselves from this world system. Start small homesteads and communities far from the large population centers and wait for it all to collapse..it surely will in the not to distant future.
That strategy might work for a little while as long as it takes for OBAMA to covertly bring ISIS into the US in large numbers mixed with an even larder number of refugees as done to Western Europe.
Over-population is THE central problem facing man in these difficult times. Try convincing religion oriented people about controlling population and see the result.
Stephen Moore has used written several articles using land statistics from the Food and Agriculture Organization of the United Nations:
Interpretation of the Population Table 2009
Overpopulation Calculations 2009
Population Table 2009
What you are seeing in Europe, you will start seeing here going forward as the number of births far exceeds the number of natural deaths for at least a hundred years and from continued poisoning of the environment and destruction of the biosphere that we all need to live.
The soil itself is losing life each time crops are planted and cannot be replenished by simply applying fertilizer. That life instilled in the soil takes tens of years. Unfortunately, our science has no way to quantify that life energy.
This Earth is all we have.
The criminals responsible for all this mess must be imprisoned!
And all of us need to think deeply about the over-population problem! Ultimately, we are all responsible for that problem.
Oneno,
If we have to reduce the population let’s start with everyone associated with the NWO and the Georgia Guide Stones. They should go first.
Greg
Greg: and redistribute the trillions and trillions of dollars they have stolen from the world. Then- don’t allow them to go underground to the cities we paid for when Nibiru(planet X) comes soon! Many locations underground will be buried as the poles shift.
Everyone has a finite time for life on this Earth. That time may be extended or shortened depending on environmental factors.
Just as I do not agree with NWO policies for depopulation covertly via endocrine disrupting chemicals in our environment or overtly through war and financial repression, I cannot call for imposition of the same on anyone.
I am merely suggesting, that people of the world assess available data for basic life support defining population limits and then agree on a course towards those population limits (via natural deaths).
Thereafter, rules need to be observed to adhere to those population limits.
The current mindset is not only destructive on populations but also on the Earth. This mindset must change toward the positive consciously and with respect towards all peoples.
(My) experience suggests, life does not end with physical death. The spirit transitions through another educational phase before it re-enters a new physical host on Earth as a child of man.
To allow an optimum life for that child, one would want a global mindset that strives for optimum living conditions rather than the current mind set that is destructive.
The cycling from spirit to physical to spirit continues until the spirit no longer requires a physical host and can then start it’s evolutionary phase in the spiritual realm. The spirit as a fragment of the Creation is immortal and it final evolutionay form (and primary goal) is a merger with the Creation.
Hence the need for sensibility and prudence for life choices in the physical realm with respect for others for the same optimal transition to that final goal.
Oneno, the notion of reincarnation does certainly not call for limitation on population numbers on Earth. There are btw enormous uninhabited livable areas on this planet. Pollution problems can be handled in a sane manner. That defining population limits sounds like freaky Rosicrucian gibberish. It’s not the large populations that is the problem, it’s the wicked few.
@Hilde, please give details on:
‘enormous uninhabited livable areas’,
‘Pollution problems can be handled in a sane manner’, and
“it’s the wicked few”.
With the exception of deserts, I know of no ‘enormous uninhabited livable areas’. All liveable areas are spoken for by flora and fauna.
Why are ‘Pollution problems ‘ NOT being handled in a sane manner now?
Who exactly are the wicked few who can usurp governments, religions, communications media, … Who pray tell?
Are you familiar with the works of William Stuart – of The Invisible College fame?
“Thereafter, rules need to be observed to adhere to those population limits ” . So how many will you allow to live on this planet? 500.000.000?
Oneno,
Just pick up a map. See the green areas with country sides and woods? There’s room for us on this planet.
That’s right. If anyone doubts that there are plans in the works for a New World Order, with goals for a reduction in world population, all they have to do is to read the Georgia Guide
Stones. I guess this is one of the reasons that taxpayer money is used to support Planned Parenthood, and the the remainder for Chem Trails and food poisoning!
Greg, You have GOT to give us an upvote button!
Thank you Terry you are very kind, but I don’t think that’s going to happen anytime soon. It is a good idea.
Greg
Greg, I know we’re suppose to love our neighbors, but, I can’t help but to agree with you. We’ve seen far to much treason by elected officials and appointed cronies. The Rockefellows and Rothschilds, have along with there globalist puppets have been responsible for untold millions of deaths. They are in my opinion the root of the cancerous growth pledging the world. It may take a direct act of the sovereign God to bring them to justice.
AMEN!!!
My single piece of advice for you, oneno, is to put aside your preconceived notions of religion long enough to watch this documentary. There is hope and you just might see things differently. Back to Eden gardens. http://www.backtoedenfilm.com/
Back to Eden Garden.
We hear this all the time, but and it’s always the White man’s fault right?
Obama is over populating the US with Mexicans and what not – that is the real problem.
White people left to our own devices have brought our populations under control. So are we applauded for this? Hell no! Invasion time!! Poor widdle wefugees got nowhere to go…
I’m sick of hearing this:
“The immigrants are doing the jobs White people won’t do. The immigrants are having the babies white people are too lazy to have.”
The key word in “population control” is “control”. Why is India allowed such a crazy population, and yet Americans are told they are using too many resources. Next minute, the exact same commies saying this are desperately trying to INCREASE the US population with non-whites.
So, which is it? What do they want? Do they want the US population lower or do they want it higher? They say lower, yet do higher.
Actually, they just want it LESS WHITE, same as in Europe.
Read Kevin Galalae (search for PDFs available free online) for answers to most of your questions on why Caucasian populations are declining.
In India, two Priministers (Mother and Son – Ghandi) were assassinated because of their attempts to control populations. Nevertheless, de-population in India continues covertly via internal and external factors.
One way to mitigate competition with new arrivals is to become more industrious and business minded. Sever all dependence and ties with the state relating to socialism. Buy local and trade local within your own communities.
The Obama speech in Paris should be a cause for great concern. Obama wants to put a price on Carbon emissions and water as per COP 21. Someone should remind Obama, that man is 18% carbon and 57% water. Neither should not be priced at any level.
The claim of water shortage is a myth on a planet that is 3/4 water. Weather manipulation is the biggest culprit for droughts experienced in regions that would not otherwise experience drought. Americans should make Obama answerable for the covert weather manipulation programs responsible for drought in the western states including large parts of Texas.
20% of Earth’s fresh water is stored at the poles and can be accessed at a fraction of the cost of imposed carbon and water taxes. This fact should be pushed before Obama in a public setting to make clear that there is no water shortage problem.
Read James McCanney to learn the how and why of precipitation at the poles together with the illusion of Global Warming as a result of images of gigantic ice sheets breaking-off at the poles. Global Warming is a myth perpetrated for fraud just like the flat-Earth theory!
Thanks, but they were rhetorical questions. I know why we are being hounded to extinction.
I will read Kevin Galalae’s PDF “Killing us Softly” as that seems to be the most popular.
I’d recommend watching the video of Barbara Specter on youtube. That’s all you need to know about the destruction of white populations.
The account of what happened to Lot, Abraham and Sodom is worth reflecting on here. Abraham pleads with God asking if a city, even a nation could be spared for just one good man, Gods response is clear; any man woman or child worth saving would hear the Lord, trust the Lord and leave such a place on account that its fate was decided the day it was made.
But to read on, we see that in escaping the fall of one wicked place we still must contend with what it is within us that allowed for us to reside in such wickedness to begin with. It is not enough to simply trust the Lord once and for the sake of sparing ones own life, the demand that Gods love places upon us is great and it is a burden satisfied only by accepting help from the very God who placed it upon us. Without God we are truly lost, it is the love and grace of God alone that separates what is alive from what is dead, and it is in knowing this that we then learn to truly see clearly; to make the distinction between what is good and what is evil.
Hi Oneno;
Just for perspective, the entire population of the earth could be put in Texas with 1,000 square feet per every man, woman and child. (7.3 billion people in the world, 7.3 trillion square feet of land in Texas).
If you are interested in the math, consider this article.
People also need space for physical activity and recreation. Yes, I know there are lots of recreation centers with exercise equipment that you pay a certain periodic fee to access. The problem with such facilities is the lack of a natural setting and the requirement to pay a fee.
To circumvent this problem, people will opt to bicycle to work daily up to 15 km one way. This by the way is very effective for the environment, health, and some form of recreation (personal experience). So right there you need that much space in the form of a paved road for at least one person making use of that particular road.
Growing nutrient dense food done via Back to Eden gardening also requires space.
In the same way there needs to be space for trees and wild life – fauna and flora – those wood chips for the Back to Eden garden has to come from somewhere to such an extent so as to allow availability for Back to Eden gardening that covers as much land on the Earth as possible so that maybe one day even the deserts might be re-claimed.
Man had been conditioned with a throw-away mindset – where one flushes the toilet and all that waste magically disappears. No consideration is given to the holistic dynamics of the biosphere.
One has to come back to the thought of the meaning of limits as we do live on a planet with finite dimensions and a finite capacity to service the needs of it’s inhabitants.
Our weather is driven by the solar wind where the Sun has it’s cycles based on it’s limits to generate the solar wind. (Deep subject in itself – see James McCanney)
A 1000 sq-ft may be enough for you
Yes Oneo, and we must also preserve some areas on our planet in their natural state for reasons of biodiversity. Humans have already caused the extinction and decline in numbers of so many animal and plant species – at an unprecented rate. Animals and plants , not just those used by humans, must also have their space.
Some links on zero hedge with related issues requiring some thought:
http://www.zerohedge.com/print/517223
http://www.zerohedge.com/print/517257
http://www.zerohedge.com/print/510974
About a decade ago, I had discussions with workmates on a related subject. My part of the world was experiencing a deluge of migrants from China. From my perspective, the population density of the city had doubled in the span of 7 years. From their point of the view, this large city was like the countryside.
I quickly realized, these migrants were clueless about the lifestyle one finds in the countryside in North America. As populations continue increasing, that concept will disappear.
With all the automation (robots/androids) in the pipeline, what are all these people to do for a living? The movie “The Fifth Element” comes to mind.
It seems the more we over-populate the greater the loss of culture, identity, and connectedness with nature.
In fine-fluidal spirit form there is no risk of over-population. However, when we are hosted within physical bodies on a finite world with a finite capacity to service the needs of it’s inhabitants, and there is dissonance concerning unchecked population growth, we have a very serious problem. We all live on space-ship Earth.
Yes! Texas has been blessed. But please, don’t call all of those nutcase liberals to come here. We already have enough of them. They tend to bring their politics with them.
You are right about our military…and they have a VERY BIG BEEF about the corrupt, immoral wars they have been ordered to fight. They enlisted to defend the Constitution. They may decide to actually do it.
And a lot are from Texas.
We know how to fight for liberty in Texas. You may not agree with the reasons for taking the Alamo and defending it, but you have to admire the cohones of a small group of men (about 150) volunteering to hold off an army of 3,000 for 13 days, KNOWING NO HELP WAS COMING!
Excellent interview.
On the lookout for a tax rebate in 2016. If we get to that point.
The next 5 weeks should be very interesting.
Thank you Dr. Eddie.
Greg
Very well said. And, as a Christian, I agree!
If the Fed/US Govt “helicopter drops” any money to the public, my advice is to use it to either pay off personal debt or to buy gold/silver.
Malthusian. Malthusian. Malthusian. Malthus predicted similar problems in the 1700s. As the population grew faster than agriculture there would be scarcity of resources, etc.
Here we are practically 300 years later. I have read his crash course. All reasonable ideas, but have not come to pass. Oil down to 40 dollars is not supposed to happen with increasing demand and decreasing supply ( tenets of his crash). Can the gov’ts create more credit? Like Obama’s inauguration cheer- “Yes, we can”. Just look at the bank of Japan. They came right out and said, “We are going to buy (i.e. issue credit) for any and all bonds (deficits) submitted by the Japanese government. That is unlimited spending financed by unlimited credit. (I am still wondering why the yen did not fall off the charts the day of that announcement) Anyway, can they do it? Here in Japan, we now have government funded toothpaste with the logo of our local town character on it. Someday, we WILL pay for this financial nonsense.
Fan There IS a limit to how much debt (you call it credit) that can be accumulated. The laws of math and physics can not be changed……. We have $40 oil not because of supply/demand, but from sheer manipulation.
Handing free crap (in any form) out is how the system works to keep the elite in power. Especially before elections. This time it will be done to calm the natives and put the zombies back to sleep. Given enough free stuff the citizenry will welcome the new monarch with open arms…….. Hell, that’s probably the plan.
JL, I agree with you about limits, and manipulation, and plans. We have, nonetheless, gone beyond many of our limits, and there will be consequences. My mother has already ponted out Japan’s next Hitler. This man is currently a minor figure, but as the consequences of current fiscal policy start to unfold, and a period of worsening status comes, the people will clamor to be rescued. One just hopes these things don’t develop the way they are looking to develop.
Don’t be shy, tell us the name of Japan’s next “Hitler.”
I too believe that Japan is on a suicidal run to hell. Japanese culture is so unique, so sincere, and so very intense. People don’t realize what Japan is capable of. They forget that Japanese men carved their intestines out with a blade for someone else’s honor. They forget that Japanese men climbed into planes and crash them into deck’s of American warships for country.
Moreover, everyone ignores the fact that Japan is an island nation that sits in one of the most violent areas of the world. It’s a doomed area of the planet. All it takes is a powerful earthquake somewhere near Tokyo, or an asteroid hit somewhere in the Pacific, Bering, or Arctic oceans to completely wipe Japan off the map as we know it.
The leaders of Japan understand this. They understand that Japan is doomed. This is why I believe they are on a mass kamikaze operation. They will not go down without a fight, and when they do they will take the whole world with them.
I believe Japan is the spearhead of the next collapse. When Japan’s financial house of cards collapses because of a natural disaster or of male hubris in the Rising Sun, the entire world will follow.
Japan is the linchpin….
Regarding the name of Japan’s next Hitler. Although having been asked to reveal the name, I am not gong to do so- only because I don’t want to be sued for defamation of character. That said, let me clarify the comment. My mother, a long time resident of Japan and someone born during WW2, watching Japanese politics, said to me, “Watch out for this man. He is Japan’s next Hitler.” We have here, a relatively young politician, who appears ready to take draconian measures to achieve his goals. This man is currently jockeying for power. A student of mine, who is essentially a redneck, likes this politician. With the current PM Abe, who is claiming and taking powers not done by any administration since WW2, we are setting up a situation, where, as the economy in Japan tanks further, and the people become worse off, they will clamor for someone to rescue them. The stage is being set then, for a politician like this to take charge and have at his disposal tools of power which have not been available since WW2. (I am writing about Japan, but realistically, my analysis could be applied to many countries). So while I do not name this individual, please understand the political/economic situation which could bring him to national power.
Let me throw in another tidbit. My father, five years ago, looking at the world situation, said to me, “WW3 is not going to happen in my lifetime, but it will happen in yours”. My father, bless his soul, died four years ago.
Interesting exerpts from a book I am reading, “City of Dunedin, New Zealand” by KC McDonald:
Concerning prices after World War II:
1) “All costs rose sharply after the war, and continued to rise with an almost majestic persistence. Inflation produced a bewildering situation where the vocabulary of the currency changed its meaning almost daily. The yards of financial measurements shrank to feet, and comparisons from year to year of amounts expressed in money lost their validity.”
2) “Fluoridation of the (Dunedin Municipal water supply) water in the interests of dental health has been much discussed, but here as elsewhere there has been strong resistance to the idea of compulsory medication. In a poll taken in November, 1959, the proposal was rejected by 14,247 votes to 8,312. This however, may not be the end of the matter.”
Imagine that, actually being given the opportunity to vote on something like that! I don’t ever remember the issue of Fluoridation ever being debated and then voted on in the USA, much less that of GMOs!
Just like old Ben Franklin said once outside Independence Hall when
the Constitutional Convention of 1787 ended, when asked by
Mrs. Powel of Philadelphia:
“Well, Doctor, what have we got, a republic or a monarchy?”
With no hesitation whatsoever, Franklin responded:
“A republic, if you can keep it.”
Hope each of you have the Happiest of Holidays!
Sincerely,
CD
I live in New Zealand, and I don’t remember such a vote either. That was a long time ago.
Now, our political class completely ignores us. Well, not quite. They are replacing us with Chinese so they study us to make sure we don’t get upset and say anything that might make our replacements uncomfortable in any way.
Don’t look to New Zealand for any signs of hope. Same shit here.
Re Fluoride, Pagosa Springs in CO succeeded defeating the water additive. They did this by saying it would be too expensive for those who did’t choose it to remove it. A resident there told me that was the only way they could do it. Fluoride puts scales on the pineal gland.
Greg…Thanks for setting up the excellent interview with Chris. Really appreciate your efforts. My only concern is that after listening about all of Chris’ concerns at the end — he then finishes by saying “…this actually may not happen…” (?). Does he have confidence in his findings? My concern is that if he has done painstaking research and checked it carefully, and thought about alternative scenarios — then he should just stand by what he said or say — look, I am 80% confident that I am right on my views. Otherwise, you have to discount what Chris says as just another doom and gloomer who is worrying people. I believe that Casey research in the book Crisis investing in the 1980s had the same impending doom tone — and here we are 35 years later.
In short, well done Greg. I just feel that if Chris is not confident in his findings he should just not show us the book, not sell access to his peak prosperity website and leave it at that. Otherwise, he should stand behind what he says.
Greg,
I always enjoy Chris Martenson. He brings a very calm, levelheaded, approach to the discussion. The big news is, tomorrow the IMF will grant Reserve Currency Status to the Chinese Yuan.
http://www.wsj.com/articles/imf-expected-to-name-chinas-yuan-a-reserve-currency-1448769634
Before everybody discards this move as “no big deal” you need to understand that this is the first phase in China’s economic strategy to seize total control of the worlds economic market. Phase two (which is only weeks away) is when China moves to reset Gold prices making Shanghai the main Gold trade platform in the world. When this happens it will turn the world markets on their ear. China has been planning this for months, and when it happens the Central Banks will lose control of the markets. Gold will spike. The dollar will collapse, and the Yuan will be the worlds new international Reserve Currency.
The bigger question is will the western criminal cabal let it happen before it starts a war? I honestly don’t think the BRIC alliance wants that. They have put to much on the table to let it go up in smoke. It has become apparent to me that the (supposed) Russian plan that was shot down by Turkey(supposedly) was a black opts operation to gin up a war in Syria by the western banks. It makes absolutely no sense why Turkey would do that after signing a credit swap agreement with China, and a gas deal with Russia. This has Langley written all over it. I guess we’ll find out soon enough if there is another attack in Syria? I put nothing past these people.
Jerry,
King World News’ audio of Dr. Paul Craig Roberts gives a good view to the Turkey shoot-down of the Russian fighter.
Addendum to my last post.
I rarely take King World seriously, but I think this time they nailed it with the Gold prediction.
http://kingworldnews.com/this-will-cause-the-price-of-gold-to-jump-hundreds-of-dollars-in-a-matter-of-days/
I absolutely think this is the central banks last play on Gold. Paper contracts will meet their doom when China seizes control of the market in December. This is all being set up to collapse the outdated Bretton Woods, Petrodollar dying, western bank manipulating system. I will be keeping an eye on the “Price Fix” because that will give us some resemblance of a timeline. All I know is that the PBOC has said it will happen before the end of 2015.
Update. Yuan now Reserve Currency.
http://www.bloomberg.com/news/articles/2015-11-30/imf-backs-yuan-in-reserve-currency-club-after-rejection-in-2010
Gold fix is next.
More on the inner workings of Turkey. Syria is just another Ukraine.
http://www.globalresearch.ca/impacts-of-turkeys-aggression-the-turkish-stream-is-dead-disruption-of-gas-pipeline-routes-to-the-eu-russias-economy-in-crisis/5491756
You will notice that with this move, the EU has essentially sealed their own doom. The vast majority of natural gas in Europe is controlled by Russia. Winter is coming and when Putin drops the hammer on natural gas prices in Europe it’s over. The globalist played right into his hand, by jerking the strings on Turkey.
Excellent as so often Greg. CM takes a truly ‘holistic’ approach to meeting the future with proper preparation as well as contentment.
Good interview. I noticed Mr. Martenson touched on the subject of energy, especially oil prices. So my question is, why are oil prices so low? We all know that oil prices are controlled, at least in part, by speculators. With all the turmoil in the world at this time, especially wars in the ME, I’m failing to see how oil prices can be so low? Not complaining by no means, just cannot figure it out.
Therefore, Greg, or anyone else out there can you please put this into perspective?
Regards.
Ed –
Short answer: today’s low prices are a product of :
1) slowing demand due to a weakening global economy
2) oversupply due to US shale while OPEC has maintained robust output
The US shale boom is a ticking clock. None of the producers are profitable (in fact they’re bleeding cash profusely at sub-$50 oil), but have perverse incentive to produce as long as they can get funding. That funding is now in the process of drying up, but the worst has yet to happen. Expect 2016 to be a horrific year for shale producers and output.
Meanwhile, the slight oversupply of oil in the world right now has generated an over 50% decline in the price of oil over the past 12 months. This is a huge overreaction by the market.
As low prices in general, and the emerging shale carnage in particular, discourage new development and lead to well shut-downs, we are setting ourselves up for a global supply crunch at some point in the next 1-3 years. If a few percentage points of oversupply have led to a 50+% decline in oil’s price, how much of a price spike should we see if we enter a period when oil is undersupplied by 10% or more? That question has our full attention right now.
The price of oil is low right now because there is a supply glut. There are tankers lined up and waiting for weeks or months to unload.
The reason there is a glut is because Saudi Arabia has over-produced oil, disregarding what the other OPEC members want. Why has Saudi Arabia over-produced? There are basically two theories –
1. To drive the shale oil producers in America (Saudi Arabia/OPEC’s competition) out of business by allowing the price of oil to fall below the point of profitability.
2. To weaken Russia, which relies heavily on income from oil.
With the worldwide economic slowdown, less oil is needed for manufacture and transportation, so this contributes to the supply glut. Also, with low oil prices, oil-exporting countries need to produce and sell even more oil in order to break even. This has a deflationary effect on the price of oil.
I personally subscribe to the first theory. I’m enjoying the lower gasoline prices while we have them; it can’t last forever.
Here’s one that no one wants to address…The elites are divesting themselves from oil. Why does everything have to make sense? The profit of it is of no real consequence to them today…at all. They have used the profit thing up and are now ready to move on.
They manipulate it one way or the other to create turmoil when high, calm when low. What was the first thing that they did to create calm in 2008? Dumped fuel prices. In August of 2008, it was $4.00 gal. in Montana…by Jan. 1, 2009 it was $1.30.
When it begins to rise this time, the sky will be the only limit, we’ll never see these prices ever again…if we are even able to get it at all.
That goes for other real items as well, food, clean water, safe shelter, etc. Fuel will be the key to collapsing society…destroying mobility and delivery will crush the unknowing. It will be to much for them to handle.
It’s funny that everything of real value that has always kept humanity alive just isn’t worth a damn anymore.
Plan well and, “don’t go down without one helluva fight”
Good to see you commenting Last Man.
Greg
Grafique … Chris basis a lot of his analysis on oil … this could be a very serious mistake … the oil cartel is headed for collapse (due to the massive solar energy build out worldwide resulting in decreasing demand for oil) … the oil supplies from “high cost fracking” will likely never return as “free energy from the Sun” becomes the worlds new energy supply … all cars will become totally electric with solar panels on the roof, hood and trunk and the natural gas we use to heat our homes can be done away with as solar panels on the roof of the house can make electricity to break water into H2 O2 gas that can be burned to heat our homes … solar is going to destroy the oil and gas cartel and the electric power cartel … free energy from the Sun will create an economic boom as the cost of oil, gas and electric are a large part of peoples monthly expenses … and guess what … silver (the bankers are now driving below $13 dollars per ounce) is critically needed to create this solar energy revolution … the bankers are on the wrong side of history … they thought “they” would have infinite money for free … instead “we” the people will have infinite energy for free!
Solar can NEVER replace fossil fuels. The waste and pollution from millions of batteries that will have to be changed out on a yearly basis will dwarf anything you’ve seen to date. EROEI math does not work out with wind or solar. ALWAYS have to have duplicate infrastructure of gas, coil, or oil fired power plants for when wind is not blowing or sun not shinning. Sorry Sir, the math simply does not work out… chip
Chip … you are wrong … a nickel – iron battery will last “one hundred years” without replacement … that is more then the lifetime of most people, cars, appliances and solar cells … the world needs silver to covert the light to electricity … and nickel to store the electricity created … the energy cartels are toast … and I’m currently stacking both metals!
Paul, does such a battery exist? I have made a similar argument to the one made by Chip, in that what do we do with all the toxic batteries? I am not familiar with the type of battery you mentioned. Highlights? 100-years sounds fabulous! Can it be recycled?
Well said Grafique! You’ve nailed it.
Sorry, I just quit listening. The interview sounded like a commercial for his book.
Carol
Carol,
What do you want? Don’t buy the book.
Greg
Greg, another home run. Mr. Martenson was clear and well-spoken. I thought he explained his ideas very well.
Please keep ’em coming! You’re knocking them out of the park!
I agree Carol. I went back to this guy’s website and it was all pitch and no substance. What is this guy selling? I don’t know. A book? Environmental collapse? Economic collapse? After watching 3 or 4 short videos and reading the free sample of the book, I have no idea. When someone talks more about what they are selling and goes on and on an on about the product but never names the product I resort to that time-tested phrase from ancient Rome: buyer beware.
No one who actually visits Chris’ website can possibly say it lacks substance. The volume of absolutely free information there is close to overwhelming. I have been a member of his site for years now and I still haven’t gotten to it all yet. The new Crash Course alone is something like four hours long and is absolutely free.
I am tired of hearing complaints that so and so is just trying to sell something. Who isn’t trying to sell a product or service? You can say that about PCR (books), CAF (Solari report), Mike Maloney & David Morgan (metals and books) and so on. I personally sell my time, it doesn’t mean I don’t provide top notch service in exchange.
IMO Chris is doing his best to help people through some coming tough times just as the rest of Greg’s guests are and of course Greg himself. If it was all about the money for Chris he would never have quit a far more lucrative gig to do what he does now.
To be clear, I am a capitalist. I have no problem with people selling their skills or talents or ideas. The issue I have with some of these financial gurus is they tell you how bad things are and then they tell you the solution is to buy what they are selling. I am fine with someone that has a book for sale that I can buy on Amazon or their site. I am not fine with newsletters and special information that is nothing but a sales pitch with one goal in mind: to profit the seller. I am a skeptic.
I did hear an interesting interview yesterday on http://www.caravantomidnight.com and will probably buy Barry James Dyke’s book, “Guaranteed Income: A Risk-Free Guide to Retirement.” Sensible, logical, and coherent.
Follow up comment to Casey: I didn’t say why I am a skeptic. I am over the age of 50 and served in the U.S. Army, Signal Corps during the Cold War in Europe. My security clearances were TS, NATO, Cosmic, Atomal as it was necessary for me to be allowed in to secure areas to perform my duties as a teletype repair technician (31J10). I have a BA in Philosophy and took two years of university-level Latin and was able to study abroad in Rome, Italy, at Campo di Fiori in the late 1990’s. Those were glorious days. (If anyone was curious as to why I write the way I do, this is the simplest explanation Although I read Herman Hesse and D.H. Lawrence when I was young and their writing style, or so I am told, is now considered “old fashioned”).
Thus I have no formal education in economics or business other than a basic Business Math course and Accounting 101. What I do have is the ability to learn and to read and think in a critical manner. I didn’t find sites like USA WD because I was bored. I am on this site because after 2008 I realized the MSM financial media was full of themselves and not being honest with the public. Those lies that were peddled by CNBC cost me the home I loved. They cost me five years. It took me five years to repair my life. I am, once again, a homeowner. You don’t want to know the names I call Ben Bernanke and Wells Fargo. Yes, I am still angry and furious that a smart, educated, informed person could be screwed so badly and caught so unaware!
I would prefer to avoid such another such financial calamity in the future. So if you think I am too picky, or too harsh, or my words unkind, forgive me. The bankers certainly didn’t find their rules too harsh nor unkind while they profited as millions, like myself, have suffered the consequences of their foolishness.
There are two cliches, axioms, poverbs that come to mind: the ancient Roman warning, “buyer beware.” And a more modern version: “a fool and his money are soon parted.”
Okay. I am fine being taken for a fool once. I am doing my best to make sure that I am not taken for a fool a second time.
Atta girl, Faith! Oops, I mean ‘atta, lady’.
Thank you kindly sk!
I am no friend of he banskters or any new hucksters. I call it like I see it. Plain. Direct. To the point. Blunt.
Faith, thank you for your heartfelt response and your context. My context is as a guy who will turn 50 in a couple of months who like you thought I had the world figured out having a Harvard education, world travels, a law degree and 20 years of law practice under my belt. How wrong I was.
For a supposedly educated and well-read person I was clueless about the real story of our economic and monetary systems until fall of 2012 when someone recommended the Bob Wiedemer book, Aftershock. It was a shocking story, but to me it rang completely true.
Shock was followed by terror. I frantically devoured all of the alternative economic and financial media I could get my hands on and began to panic that we could soon lose everything we’d ever worked for. I was furious on realizing that I had been lied to my whole life by just about everyone I was supposed to be able to trust. There was a pretty bad depression phase where I really ramped up my self medicating (not proud just honest here). For the first time in my life I went into therapy. Fortunately I was lucky to find a therapist who “got it,” and she was terrific at just calming me down so I could work the problem as I saw it. Chris and Adam’s guidance helped me immensely with this effort.
Anyway I was not intending my remarks to sound in any way critical although they may have come across that way. I was actually just worried that you and others may miss out on what to me personally is not only a source of great information but also great inspiration and positive thinking, something that is often in short supply with me.
Do this for me: Some rainy weekend afternoon kick back and watch the crash course, it’s free and imho well done and explains in detail the concerns Chris and Adam have about the current trajectory of the economy, the planet and our species. Next, spend some time looking over the “what should I do” section, also completely free at http://www.peakprosperity.com/page/what-should-i-do.
If you come away from all that still feeling that you got nothing out of it and that Chris and Adam are just carnival barkers and snake oil salesmen I would be surprised. If that is the case, however, then call me orthopedic shoes cause I stand corrected.
I am not in the comment section here very often but you sound like an interesting person and a good conversationalist. Thanks again for your note.
Cheers, Casey
I have to agree a little myself. Certainly not the best interview.
Just about every author promotes their books. It’s what you do.
I agree though, many of these books are just rehashes of internet stuff. Dmitri Speck’s book about gold manipulation seemed to be a notable exception though.
Cryptic Little Sister made a lot of noise on this website as if he was privy to secret info. One thing he said was that the pending National Defense Authorization Act (NDAA) would contain an increase of billions of dollars, specified to be spent in Ukraine. CLS said that by this, we would know that a collapse was near (not sure why military spending in Ukraine pointed to an imminent collapse, but that’s what he said).
The NDAA has passed and been made public. The text referring to Ukraine says:
“SEC. 1250. UKRAINE SECURITY ASSISTANCE INITIATIVE.
(a) Authority To Provide Assistance.—Of the amounts authorized to be appropriated for fiscal year 2016 by title XV and available for overseas contingency operations as specified in the funding tables in division D, $300,000,000 shall be available to the Secretary of Defense, in coordination with the Secretary of State, to provide appropriate security assistance and intelligence support, including training, equipment, and logistics support, supplies and services, to military and other security forces of the Government of Ukraine for the purposes as follows:” The breakdown in spending follows this copy-pasted text.
As you can see, a total of $300,000,000 was earmarked for Ukraine, not the “billions” CLS predicted.
I had maintained that CLS was no more than an attention-seeking phony. This proves I was correct.
G – Thanks for the follow up!
Not really defending the ‘lil sis’ here; but what if she was counting the money that gets “skimmed” off the drug trade and other black market activities and diverted and steered into various projects that cannot be openly funded or publicly supported.
I mean, at the risk of sounding slightly cynical, no one here really believes that the “illegal” drug trade can operate with such impunity, high level of organization and profitability without being possibly, somewhat more than tolerated by the very institutions and organizations making such substances illegal in the first place.
No, Brian, CLS was adamant that the money earmarked for Ukraine would be in the NDAA. It’s not there.
Because she blew the whistle, “they” changed it.
Grass roots action!
(Joking BTW)
I agree with Brian.
The black ops money going to Ukraine will never be known. Backdoor aid is available outside normal channels and is unaccounted for on the books. There may even be support coming from the Saudis and other groups not friendly to Russia.
Just remember that all levels of government intelligence and military are potentially involved in the drug trade. Even the Marine Corps; just ask the Col Sabow family about the goings on at El Toro MCAS.
Brian
‘lil sis’, in my interpretation, was quite clear. If she or he was counting the money that gets “skimmed” off the drug trade, etc., she or he would have said so.
I do not disagree with your premise about the “illegal” drug trade. Grafique nailed this one from the start. Will the system begin to collapse now in earnest after the passage of the 2016 NDAA? It may. But ‘lil sis’ was quite clear that it would be due to the billions earmarked for Ukraine and Syria that translated to the cause and effect for his or her predictions.
Greg, thank you for the last 2 interviews. Very well done!
Yeah, you and Grafique are correct about the ‘lil sis’; there is no denying that. I guess I was just looking to use the opportunity to make a point about how things get funded.
I agree, Brian. Who knows how much “black money” is spent, and for what dreadful purposes?
I look eagerly for the day when all secrets are shouted from the rooftops.
Great interview Greg! Chris is one of my all time favorites & I love all your interviews!! Please try to get Ellen Brown on and discuss the safest places to keep our “cash” from the banking cartel thugs reaches once the derivatives de-resolution starts. Thanks for all your work!
New article posted.
AA
http://antoniusaquinas.com/2015/11/29/black-friday-symbol-of-americas-economic-and-cultural-decline/
I checked out this guys website before commenting. Some of the forums are dead. No one has commented in a year, or more. I can tell this guy why his forums are dead, people have to register to comment. People are over that. People know they are being tracked.
I am not clear if this guy is a peak oil guy. I don’t believe in peak oil, it is a fraud. It is untrue. Oil is a naturally occurring subtance that has nothing to do with dinosaurs. For those of you in the dark I am an advocate of abiotic oil, meaning oil that is a naturally created substance that is self-renewing.
I clicked threw this guys sit and saw you can watch 3 minute soundbites that are highly produced. The stupid tree graphic with the rays of light in the background is wierd and intentional. It reminds me of the rays of sun flags and graphics used by some asian countries.
Once again, this guy has a product to sell. Buy my book is the answer. Oh spare me. If you want to educate people and help them survive please be more than click bait.
Telling people to “run not walk to buy stuff” while credit still flows is foolishness. Buy what? Buy silver and gold on credit? Or just buy more consumer stuff? This guy is very hip, slick and cool. Too cool for me. Too packaged.
I appreciate that you have various points of view, Mr. Hunter. You are amazing. I do appreciate you having diverse points of view on this site.
Faith If things devolve into handing money out to everyone then I think he’s saying go buy everything you need immediately because inflation will make everything unattainable……. Everything you NEED would be the operative word.
The reason I asked is that many Amercians are no longer able to distinguish needed things from wanted things. Thus my question. Very apropo since Friday was the most hyped shopping day of the year.
Faith – Don’t you mean like Arizona’s flag? I don’t know any “Asian flags” with those graphics, and if you’re talking about the Japanese navel flag that is dead and buried.
Sugoi, actually, yes it does remind me of the Japanese naval flag. The colors are different. People can use various graphics and put them together to form new meanings. I just found the overlay of the two graphics manipulative. Too perfect. Add in the music and the entire site reeked of propaganda, to me. I found it cloying.
Faith,
The reason Martenson appears slick is because he has been saying the same things for the last 4-5 years. I know because I’ve been a subscriber. Unlike this site, he entertains no opposing views, or economic models which factor in the black budget, money laundering or other nefarious money making schemes by the criminal elite. Many people, including Martenson, wring their hands and say the money printing can’t go on, but it does. Japan has been at it for over 20 years! I think there’s a lot more going behind the scenes than most commentators can imagine.
If you read a article of his, there is always two parts and you have to register to read the second part. When I see that I’m gone!
Same here John Duffy. Same here. I was looking at some of the videos and the forum. There were silver, gold, and platinum forum members. Did they pay this guy to be allowed to post on the site? Something is not adding up with this guy. I don’t know what but this guy gave me the creeps. He is just a salesman / con artist. That is my honest take on him.
I would say it is better to buy precious metals and survival items on credit than to buy consumer junk from China during the holiday season. Fixed low interest credit is a bargain now for the smart shopper of precious metal, especially silver. Metal in hand bought with cheap credit is not a bad idea.
What and where is the scientific evidence for abiotic oil? Abiotic oil is truly a “faith-based” belief system. If there is evidence, Faith, (chuckle, chuckle) please let us in on it.
Sam, the best evidence, for me, was that there is off-shore drilling at depth. It is ridiculous to think that dinosaurs, or fossils, are the reason for the existence of oil. I am not an expert. After hearing various points of views on the subject it is logical to conclude that oil is a naturally created substance.
I read the popular books written by Jeremy Rifkin, “Entropy” and Howard Kunstler, “The Long Emergency.” Peak oil? What peak oil? There is a string of oil tankers sitting in the Gulf of Mexico (right now!) waiting to deliver oil to refineries in Texas.
What peak oil? What oil shortage? Certainly all of the easy oil has been found and some is being kept unavailable. Peak oil theory is just another manipulation by various people for their own benefit.
As Mark Levin said earlier today on his show: “Carbon dioxide is air.” Indeed. However the environmental fanatics don’t care if they charge you a fee to breath air. Is the air clean? Who cares as long as TPTB make a profit.
Off-shore drilling at depth is not evidence. Your opinion is faith-based, wishful thinking. Slowing economies world wide have greatly reduced demand for oil. That’s why the illusion of a glut…
Hi Greg,
Don’t know how you do it, but you always manage to get the best and most diversified guests out there. (What’s your secret to making such great contacts?).
Chris Martenson is similar to Mike Maloney in that they have a great macro and overall view of how the credit/debt based system works and how it is unsustainable; and they both explain it very well to the common people.
Keep the great interviews coming, as I never miss any of them.
P.S.: Message to anyone from Chris’ team: I’ve been trying for over 6 months to post in the Forums on PeakProsperity.com but always get the “You are not a person but a robot” message when trying to do so. I always correctly enter the “Capchas” and I’ve fixed all the browser settings and still get this message. I’ve written twice on your Contact Us page about this problem but never got a response. It’s very frustrating not being able to participate/post in the forums. (Greg I apologize for this P.S. but hope you will still post it).
Dan –
I’m the co-founder of Peak Prosperity along with Chris. We’re sorry to hear of the obviously frustrating experience you’ve had trying to create an account on our site. Getting denied as a ‘robot’ is not a common experience, so we’re concerned it’s happening in your case.
Please contact directly at [email protected], and we’ll work with you live to fix the issue.
cheers,
Adam Taggart
Wow, nice customer service!
Greg, don’t you want yr audience to be honest and be critical if thats what they feel?? If everyone just loves what you present….cmon…criticism is interesting.
Tulip,
Use a real name it you would like to criticize. It will mean more and you won’t come off looking like a disruptive troll.
Greg
Thanks Greg.
I enjoyed listening the CM interview; he’s one of the more forthcoming, call-it-like-he-sees-it interviews; ie he makes sense to me and doesn’t couch his assertions with disclaimers.
BZ! I appreciate your hard work!
Hank
Thank you Hank!
Greg
Greg: You’d better get these “experts” on target. Who cares about finances with planet X coming into our solar system and destroying everything on the surface. Paper money, stocks, life insurance policies, or even gold and silver.
Like the smartest woman in the world (Hillary)said, “what difference does it make!!” Most people won’t be here? By the way- she isn’t very smart- but is high up in the bilderberg group- called protection!
Start asking your guests about this twist in the plan!! They won’t even know about it- unless you tell them in pre-interview
Al, just curious, if you truly believe a planet is coming close enough to wipe out all or nearly all life on earth very soon, can you really find nothing better to do than watch and comment on financial videos?
With all respect, dude, I can think of a thousand things, without even trying, that have to be far more important – or fun!
I already made a similar comment. If we are going to become extinct from an object hitting us then WTFCares about anything. Seriously….
Jeff, not to be crude, but if I believed such a thing, my wife would find it difficult to escape the boudoir.
Maybe I’d let her out to grill a nice filet mignon or wild salmon and bring me a snifter of Grand Marnier (neat).
Al:
Why concern yourself with destruction of the earth’s population by Planet X when we humans seem to be doing such a fine job of it ourselves? Apparently the Alinsky agenda and all the trimmings will get us long before a Planet X.
Chris can’t see how all the new debt that must be created can be taken on by people who are at their debt limit … so he thinks the whole system will collapse (it’s just a mathematical certainty just waiting to happen) … however … as long as the bankers make sure their fiat is not redeemable in gold or silver (by manipulating the price of precious metals downward as they expand fiat … doubling … and re-doubling the amount … they “can inflate endlessly” … the Fed (can take on its books all the debt necessary to run government) and was set up in 1913 in order take the peoples currency off the gold standard in 1930 and off the silver standard in 1964 … and they achieved their goal of a complete fiat system world wide in 1971 (when Nixon’s closed the gold window) … since 1971 the Fed has been free to print to oblivion … now what happens when the Fed prints to oblivion … it systematically loots the middle class as exponential fiat paper printing makes the dollars in existence worth less (creating an inflation in the price of goods and services) … people during the 1970’s recognizing this inflation of the money supply began buying gold and silver … but the Fed under Volcker clamped down on gold and silver in 1980 so the bankers could continue printing fiat paper with abandon … they simply had to manipulate the price of gold and silver downward to stem any movement into precious metals as an escape mechanism people could use to avoid the Fed’s exponential creation of fiat used to balance budgets, fight perpetual wars and pocket trillions in cash for themselves … although the bankers “achieved their goal” of a total worldwide fiat based monetary system where they could print money “to infinity” … the bankers still feared gold and silver (even after getting precious metals out of the “official money supply”) because people were still taking fiat cash out of banks to buy physical precious metals in bullion form … fearing fiat paper withdrawals from the banks (that could not be met) and would force the closing of banks …the manipulation of the gold and silver price downward had to be continued in earnest (to show people that precious metals have no value) … but people are not that stupid … they could see the Fed was creating exponential amounts of fiat (even if M3 was no longer reported) … so even though the Fed pushed the price of gold and silver down people continued buying it … the problem this creates for the Fed is that as peoples disposable income is used up “buying cheap gold and silver” less money is available for spending to boost economic growth … and also as people see their “net worth” in the accumulated gold and silver bullion they have stacked fall in value (they don’t feel as wealthy) and cut back even more on their spending.
The Fed can continue manipulating precious metal prices lower and lower but the purchasing power of Americans will be even more drastically lowered … because as the Fed “inflates” fiat (in a Zimbabwe manner) to meet budget, military and social program requirements it lowers its purchasing power … less purchasing power creates economic hard times … people like Dent, Armstrong, Ackerman, etc., etc. call this “a deflationary condition” when it is exactly the opposite … it is pure and simple “inflation” … where the official inflation numbers are simply manipulated to show “no inflation” … these people are dead wrong … we are not in a deflation (where fiat paper money is getting more valuable) … we are seeing exponential increases in fiat world wide (look at Japan, EU, etc., etc.) … this is clearly fiat money “inflation” … the slowing of economic growth we see is due to fiat inflation making currency worth less combined with the manipulation of precious metals lower (which makes peoples net worth less).
All the bankers exponential fiat printing and manipulation of people’s hard money savings lower … has put the Fed in a bind (they must now consider ways to give the people some money i.e. raise interest rates, lower taxes, etc. … so just when the bankers thought they achieved “utopia” (a New World Order) by getting gold and silver out of the “official money supply” where they could happily and merrily print and print fiat to infinity at zero cost … gold and silver still came back to became an albatross around their necks … now they have to try to lower entitlement payouts by all types of devious means … chem-trails, fluoride, etc., etc. to effect a “lower average life span” … make workers pay checks smaller by shipping good jobs overseas (so as to pay out lower Social Security checks) … death panels, etc., etc, … allowing Mexicans, Syrians, etc. into the US (to fill the “demographics gap” so there will be enough younger workers to pay the baby boomer generation (as they retire) or are simply poisoned to die before collecting … I can go on but you get the point … forget those people who say we are going into deflation (the inflation numbers are being manipulated i.e. no COLA increase this year) … we are in fact in a Zimbabwe type “inflationary explosion” of the fiat money supply worldwide … I think Mike Maloney was “conned” by Dent into believing that a “hockey stick” exponential curve is actually “a sine wave” … exponential growth never acts like a sine wave … money supply growth is currently growing and will continue to grow “exponentially” (inflation) … as the bankers simply “pull strings” and manipulate numbers to make things “look deflationary” … but this is their “Battle of the Bulge” … we have China and Russia attacking them in a pincer movement … the bankers dream of a 1000 yr New World Order where they could infinite fiat to infinity at no cost to them will go down to defeat … and peace will return to the world of finance … when we return to hard money as Andrew Jackson wanted for all Americans.
Paul, I agree with most of what you said.
Monetary inflation and price inflation are two different things but often confused. I despise conversations where the elite economist drones on and on about monetary inflation or deflation and fails to distinguish this from price inflation and deflation. It annoys me greatly.
About the ZERO COLA this year, I have a question. Did Congress and Federal employees receive a COLA this year or was it also zero? I doubt very much that any Federal employees had to sacrifice much of anything. I am fine with active duty service members receiving a COLA but when it comes to Congress and the other Federal employees, I think it is time for cutbacks and layoffs.
Faith … I believe Federal employees (including Congress) will get a 1.5% increase … but Federal retirees and Social Security recipients will get ZERO or less because Obama Care medical expenses will be going up because of inflation …
As for Monetary inflation … everyone should know by now it is rising exponentially … as for price inflation … buying things with fiat dollars (that are becoming worth less due to exponential printing) becomes harder and harder for people on “fixed incomes” … and the crooks won’t even give people in retirement a proper COLA … which should actually be about 7.9% this year according to John Williams !
Another quirk about 0bamacare is although it cost everyone and thus is a negative on the economy it actually is responsible for most all the positive GDP numbers ….. Put another way, you’re paying a tax to propagate the lie that the country is actually growing. But then, everything’s a lie now, right ?
Jeff L,
Karl Denninger is up next to talk about the Obama Care disaster he predicted years ago. O Care is helping to kill the economy and there is really no two ways about it.
Greg
Thank you for the update, Paul. It doesn’t surprise me one bit to hear that the bureaucrats in DC will get a COLA while seniors and veterans will get nothing. Despicable. They ought to be ashamed of behaving so badly.
Paul
Excellent analysis. Thank You.
I hope you are correct about, the “… but people are not that stupid …” comment.
A great wrap up of the macro from 1931 to present. I would like to add that from 1980 to 2007, middle class Americans did quite well since they were the first waves of investors in a growing Ponzi Scheme.
I love Reagan but he is the one who allowed the Ninon’s default to turn into a Ponzi. Clinton made it worse/prolonged it by suckering in more investors from Mexico than China via the NAFTA.
The problem we are facing now is that the latest investors, mainly the Chinese and the Russians, have become aware of the Ponzi scheme just like the middle class Americans did back in 1970’s.
W. Bush did the Hail Mary Pass in 2001, using U.S. Military to keep astray investor, Saddam Hussein, from the euro. Obama is trying to keep it all togehher by acting like a ghetto punk. Personally, I’m ashamed to be a citizen of this once great nation. 2016 will be a do or die election. This cannot go on much longer.
Greg once again great interview. A few months ago I asked if you could ask a big financial Guru a question as regards to a Black Swan event, which was – ” What would happen if tomorrow, one for the ratings agencies downgraded the US or any other leading economy. I know we can guess at the scenario, but is it a real possibility? it is the one black Swan that no one mentions.
keep up the good work , Cheers Al.
I think a rating agency arbitrarily downgrading the U.S. would result in that rating agency’s demise. Unless they are instructed to do so. They are NOT independent,if only on the surface. I have a suspicion, and just that,that China might get snubbed again with the IMF.
One thing we have an infinite supply of are numbers. Why can’t the debt keep growing? What’s the difference between 60 trillion, 120 trillion, 1 guadrillion, 1 quintillion and on and on? It’s all unpayable.
Ask Germany
Just a quick note on “black fri.” movement of boxes through ups. I work part time and we had 63 short trailers, and 17 long trailers. many were only 10% full, a lot full loads, and several 50% full. Today is our biggest day at our hub.
I tell you we were standing many times with empty belts in the small box movement area, called “smalls”. VERY UNUSUAL!!!
We started the shift at 1:45 am, and stopped at 8:00 am. and normal start time is 3 to 4 am.
It was “lite” to say the least, and wed will tell us more with online sales movement from amazon/ebay/overstock/ and others. I will keep you informed.
Bill H. My keyboard is broke and haven’t been able to type much, thus the copy and paste in response to your articles. I am on J C Davis’s laptop, as we live 10 min from each other. I do read all your stuff, and enjoy it.
Jim W. I listen to ALL YOUR INTERVIEWS, and of course my main daily read is USAWATCH DOG,
YOU GUYS ARE WONDERFUL!!!! THANKS AND MERRY CHRISTMAS.
Chris is one of the best minds in our community; thank you Greg for having him on your show.
The thing about the price of gold being set at the COMEX (and LBMA) as an increasingly leveraged price which is declining should not be considered as a false price. Yes, you read that correctly. Why? because the increasing leverage, of around 300 to one means that there is a decreasing amount of gold backing the IOU derivative – and the price is reflecting this trend. One could also look at it from the risk side based on this leverage. The real point of this (as a theme expressed by Chris and yourself) is that paper obligations/derivatives are priced as the declining assets they are. The fraudulent nature of this is based on the fact that they are officially “seen” as the same as the metal. The Chinese, and wiser buyers everywhere welcome this fraud to accumulate the real metal. And when it ends, I agree the rise will be astonishing.
But by then all paper will burn.
Best,…
G.
IMF adds China’s yuan to basket of top currencies
http://news.yahoo.com/imf-adds-chinas-yuan-basket-170627081.html
YOU NAILED IT JERRY. CONGRATULATIONS, NICE JOB!
I agree Macray. Jerry is the man, and this may be a part of the reason for the (criminal) 300 to 1 leverage in the gold market.
Greg
Greg, don’t be deceived by this move.
I fully believe as “V” and many others do, that the Yuan being added to the IMF basket is a Trojan Horse. Once China sets all of its trade platforms up in Yuan, they’re going to pull the trap door on the dollar by resetting Gold prices making Shanghai the central hub. This is it! I wasn’t sure until I saw this.
http://thebricspost.com/china-construction-bank-named-zurichs-yuan-clearing-bank/#.Vl4rbnzrsfh
Right now China is flooding the banks world wide with Yuan liquidity and bonds. Forget about next September they’re going after it right now. The lynch pin is the Gold Reset. Keep an eye on that.
Jerry,
You have called this all the way in like radar tracks an incoming missile. Good work!
Greg
Jerry, congrats. I have been hanging back and watching this unfold. If I have been silent, it is because I agree with you and have been unable to dispute your claims.
When people continue to refer to the US dollar as the cleanest shirt in a hamper of dirty shirts, that says something. People right now are stuck with the USD. Once their is a viable alternative the floodgates will bust wide open. When? How? I don’t know. It is only a matter of time until the USD ponzi scheme implodes and self destructs.
Yes, I agree, high compliments and gratitude to Jerry!
With the International Monetary Fund officially designating the Chinese yuan a global reserve currency … what kind of paper would people now tend to want to hold? … Exponentially growing fiat paper backed by “hot air” at Fort Knox … or “very limited paper” that has some real “gold bullion” to back it up? … Now what I want to see is “convertibility” announced by the Chinese … making the yuan “convertible into gold” will bring the world monetary system back to “a hard money basis” … and inflict “a major defeat” on the fiat banker thieves destroying the middle class!
I agree Paul. If the Chinese decide to back the Yuan with gold all bets are off. I think the Chinese are running out the clock and waiting. They know the USD is backed by nothing but the “full faith and trust in the US government.” Sure. That works out great until people no longer trust the US government and realize they are all corrupt liars. The Chinese are just waiting for the world to catch up. Why fight when your enemy can fight itself?
Hi Greg,
You know, I’m a loyal listener and believe you have just about the best site of its kind out there.
On this one, I basically agree with what Carol Smith and Faith wrote.
TRY SOME TRUTH!!!!!!!!!!!!!
TED
Ted. Can you expose the lie ? Facts not opinion? Feel free to correct others. We need to stay focused on facts not feelings. What are we 2 trillion in debt? Has any one thing improved from 2008. Help me out of the lie you speak of.
I am sorry Ted and Allen. Allens name was still in the posting cycle. I James C Davis posted the above.
Congrats Jerry, finally we have a winning prediction.
debt is not money at some point some body is going call the usa bluff!!! then what
Greg:
Outstanding interview! I did some research on Chris and PeakProsperity when you announced he was next and I am highly impressed with his work. I have a lot of studying of his work to do as his work is probably the most comprehensive and best that has been provided to date. I understand that the world is changing negatively at an accelerating rate, but Chris’s work has given me a glimmer of optimism for the first time in years. You and your site are the best! Be well and Prosper in these challenging times.
Sayonara
Geezzzz……Cut him some slack; he just published a new book less than two weeks ago. Call it salesmanship if you want; but he’s excited about it! Whether you decide to buy it or not, USAWATCHDOGers are among the first to be advised that its out there…..thanks to this website and interview. btw….his website has a lot of valuable information.
Mr. Martenson made a comment about California earthquakes…..that only 3% of the population is prepared. I would have found that hard to believe until we experienced one of our worse ice storms this week. (Entire state declared a State of Emergency.)
During this crisis, I have followed the local electric company’s FaceBook page and it is very disconcerting how unprepared people seem to have been. People wrote, “the electric company knew days in advance the ice was coming and THEY did not prepare.”……and, “I pay THEM to handle problems like this”…..and, “This is not the Stone Age, this should not happen”. All I could think of was Katrina and the New Orleans’ Superdome.
I understand they are extremely frustrated, but I just wonder how the populous would respond to the type of “collapse” discussed on this website.
I think the FaceBook comment, “the electric company knew days in advance the ice was coming and THEY did not prepare.” perfectly demonstrates Mr. Martenson’s approach…..”the ‘Crash Course’ was the problem definition….but, “the book, Prosper, is the solution space.” Some saw the ice storm coming, but seemingly did not prepare (mentally, physically or spiritually); expecting the electric company to make it somehow disappear…..(normalcy bias?)
Btw….I did notice Mr. Martenson’s website offered information on emergency/disaster preparation…..most of it I’m sure most USAWATCHERDOGers already know, but it’s a good review.
Yes, my electric was only out 4 hours; but my closest loved ones are among those who will be lucky to have power by this Thursday. And as prepared as I thought I was, I now know there is a lot more for me to do.
(On the other hand, I saw many people helping others to remove trees, clean ice off cars, checking on each other and offering assistance.)
Greg, you should see if you can get this guy on. Do a Google search on his name and see his experience. Impressive. Has written several books/novels but what he writes in this long but informative post sounds like exactly what is currently happening in Europe and the middle east… Chip
http://www2.libertysflame.com/cgi-bin/readart.cgi?ArtNum=43332
Greg who is this Glencore Chris is talking about? The mIning company? Please tell me it is not the Glencore that administers my small company pension. Am I staring at another Enron? Thanks.
Yes Dan, the mining company. There are many reports out there that say the company is in deep financial trouble.
Greg
Mr. Hunter, I thought Glencore was a hedge fund? I read http://www.zerohedge.com and have seen that name in recent months in a number of articles.
Faith,
I think this is the company that has trouble. http://www.glencore.com/ Here is one of many stories about the financial trouble the company is facing http://www.thenewamerican.com/economy/markets/item/21677-will-glencores-financial-troubles-trigger-an-international-collapse
Greg
Thank you Greg! I did a search on zerohedge and a number of older articles popped up. I think I got it confused with some of the hedge funds that are having problems. I appreciate the clarification.
No problem Faith. It’s hard to keep it all straight. It’s what I spend most of my time on. Very confusing indeed this world we live in.
Greg
When somebody speaks of a ‘credit collapse’ , I don’t think anyone can possibly speculate or define what that possibly might be, or how much, or where, or really anything specific enough to be meaningful. The problem with this type of hysteria and hand-waving, is that without specific definitions, or possible implications, it leaves any listener up in the air, grasping at ghosts, and no real solution. So all it does is provoke anxiety, as you can’t possibly prepare for any potential threat or ‘enemy’ that you don’t know anything more about than someone’s vague notion. Further, Its impossible to prepare for every single scenario, that anyone can imagine, let alone even be possible for worst case, as no one has a clue what worst case is, or will be. If any reasonable business leader such as a CEO attempted to prepare for such vague notions as mentioned here, the CEO would be ruled insane, and the board would summarily fire him. Instead of doing this scene here, listening to what will almost assuredly turn out to be in hindsight, false prophets, and making your day a nightmare, why not live each day as if its your last, live in the moment, enjoy it and your time with your family, or work colleagues, and make the best of THAT MOMENT ? I’d be shocked if at least 75% of the listeners here, weren’t either seeing a shrink or taking anti-depressants or anti-anxiety medications of some sort. Its not a knock, but seriously people, try taking a ‘chill pill’ (placebo and call it that) like a Vitamin C, or have yourself a glass of wine, at the end of the day.
Mike R,
To compare Martenson’s analysis with “hysteria and hand-waving” is link comparing a Vincent van Gogh painting to a page in a child’s coloring book.
Greg
Any news on the retail news for the economy for the black Friday and Cyber Monday?
I don’t know how it could be better?
I thought this was a great interview. And what’s wrong with an author promoting his/her book? It’s a considerable undertaking writing a book and, of course, the author wants to share his/her perspectives. In the end we all get to choose whether to buy it or not.
Anyway…great job! Here’s Chris’s full background on a podcast just released, if you’re a fan of Chris Martenson: http://www.theselfsufficientlife.com/ssl9/