Dollar and America on the Road to Ruin

By Greg Hunter’s  (revised)

In the last week or so, I’ve noticed an unusual amount of really well written and researched articles warning of impending doom and financial horror.  These articles are not written by a bunch of angry uneducated bloggers but by money managers, investors and financial writers.  All are people who got it right leading up to the meltdown of 2008, and my bet is they are right again.  The mainstream media (MSM) told you after the 2008 crash, “Nobody saw that coming,” which is a bold faced lie that will not work again.

Jim Quinn of wrote a tour de force of troubling realities you will never hear on the MSM.  Quinn lays out the case for coming ruin with stats, charts and razor sharp logic in a post called “Illusion of Recovery–Feelings vs. Facts.”  In his summation, Quinn says, “There is no avoiding the final collapse of a boom created solely by credit expansion. Those in power will never voluntarily relinquish their grand game of pillaging the wealth of the nation, so economic collapse will be the ultimate result. They will continue to use propaganda, printing presses, and half-truths to further their agenda. But those who examine the facts will come to a logical conclusion that we are being sold a great lie.”  (Click here to read this very long but very good Jim Quinn post.)

Other headlines read “Many of Us Will Never See Happy Days Are Here Again.”  The reports site a multitude of statistics showing America in ruin.  Did you know “49 percent of all Americans live in a home that gets direct monetary benefits from the federal government”?  (Click here for that story.)  How about this little post titled “Why The Notions Of Systemic Failure Or Going To Zero Are On Par With Bigfoot & Unicorns For Most Investors.”  Money manager Graham Summers cites two ugly monstrous facts, “1) US commercial banks currently sit atop $248 TRILLION in derivatives  2) The US Federal Reserve is now buying 91% of all long-term new US debt issuance (at the same time China and Russia are dumping US bonds).”  (Click here for more on this story.)

Other titles include:  “A Financial Crisis in 2012 is Inevitable! Here’s Why,”  “Government Is Dead Man Walking-The Fiscal Situation Is Much Worse Than Most People Realize,” and “The Financial Crisis Of 2008 Was Just A Warm Up Act For The Economic Horror Show That Is Coming.”   All these were written in the last week or so, and all feature sound analysis.  (There were several more I left out for the sake of brevity.)  Please keep in mind, these stories only talk about the facts and fundamentals of the economy.  War in the Middle East is not mentioned in any article.  When you consider hostilities featuring Syria, Iran, Israel, China, Russia and the United States, the mind boggles.  War would bring collapse, chaos, and financial calamity in very short order.  Oh, and by all means, let’s throw the European debt crisis into the mix for good measure.

Wall Street insider and financial expert James Rickards thinks the most likely scenario coming is “chaos” that will come from the collapse of the U.S. dollar.  In an interview this week, Rickards said, “There is still time to pull back from the brink, but it requires a specific set of policies: breaking up big banks, banning derivatives, raising interest rates to make the US a magnet for capital, cutting government spending, eliminating capital gains and corporate income taxes, going to a personal flat tax, and reducing regulation on job-creating businesses. However, the likelihood of these policies being put in place seems remote – so the dollar collapse scenario must be considered.”   Rickards thinks things will get so bad the U.S. government will “resort to emergency economic powers.”  What does that mean?  Rickards continues, “Few Americans are aware of the International Economic Emergency Powers Act (IEEPA)… it gives any US president dictatorial powers to freeze accounts, seize assets, nationalize banks, and take other radical steps to fight economic collapse in the name of national security. Given these powers, one could see a set of actions including seizure of the 6,000 tons of foreign gold stored at the Federal Reserve Bank of New York which, when combined with Washington’s existing hoard of 8,000 tons, would leave the US as a gold superpower in a position to dictate the shape of the international monetary system going forward, as it did at Bretton Woods in 1944.”  (Click here for the complete Rickards interview.)

The financial collapse is already in progress no matter the MSM happy news spin.  Real estate prices continue to decline despite a 30-year mortgage rate at or below 4%.  Millions more homes will be foreclosed on in the next few years.  The true unemployment and underemployment rate is 22.5%, and there is little hope of turning things around quickly with American manufacturing gutted and shipped to China.  A record 46 million people are on food stamps.  At least 90% of all mortgages are supplied by the government.  The Fed is holding a key interest rate at 0% through 2014 and is starting a new round of money printing (QE.)  In the wake of the 2008 crisis, the Fed pumped out $16.1 trillion to bail out banks and companies around the world.  It wasn’t enough money because, today, we face another even bigger financial calamity. Vehicle sales have been propped up with a new round of subprime financing.  America’s debt to GDP is 100% or more, and another debt ceiling increase will probably be necessary before the November election.  The banks are allowed to use government accounting fraud to make them look solvent.  Most U.S. states are not only flat broke but underwater with massive debt loads.   Bankers who created this mess with trillions of dollars of fraud are not prosecuted for fear of speeding up the coming collapse.  Fuel and food prices are rising, and inflation is running at 11% (if it were calculated the way the government did it in 1980).  As the dollar is debased, inflation will spike.  Those are just a few signs of an unfolding tragedy.

The biggest problem America has is crushing debt that it will never pay back.  Dollars are loaned into existence, and many have been created to prop up the banks and the economy.  You cannot fight a debt crisis with never-ending bailouts and currency creation.  That’s like fighting fire with gasoline.  A monumental change is coming, and for most Americans, it will be painful—especially for the unprepared.

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  1. jay

    This artical is the best iv read. We should all repost it.The written words in it are prophetic.

    • Greg

      Thank you Jay and Ambrose.

      • Ben Davis

        Your article only scratches the surface of what several other investigative reporters have written as well. If you have not seen, read, or heard about David Wilcock writing about “FINANCIAL TYRANNY” and the biggest covered up secret of the known world, in history, I would suggest for you to take a peek on his website. You will be completely shocked on the vast amount of information (all valid) that David has published. FOR FREE! It took me all day to read every detail of the financial crisis and how it got here, not to mention where it’s going in the very near future (like this year). The estimated statistics that you wrote about are pretty close to what everyone fears. However, being in business for 30 years and having to lose it all in only 2 years, has me more skeptical about what the real plan is all about! I can’t imagine what the 300 million citizens of the US will do once the truth is finally disclosed. Much less, the rest of the world in struggle to boot!

  2. Ambrose


    I agree with every thing that you said. However, I don’t think the economic crisis is our biggest problem. I believe the most urgent thing is to restore the Law and Order in America.

    How many times have we seen the Feds make a deal with their Wall Street buddies and avoid going to jail? As you already pointed out in your last article, the five big banks are trying to buy their way out of any current and future legal liabilities and they will probably avoid any jail sentence. Congress legislate laws that benefit Wall Street and Wall Street help their politicians with campaign contributions and insider information of investments. If we don’t fix the legal system and stop the loopholes, the corruption between government and corporations will continue and nothing will prevent the next meltdown.

    I finally understand what CHANGE Obama was talking about in his campaign. He was referring to the signs that more and more Americans are holding up near Highway exits and asking other drivers for (pocket) changes (so they can make a living.)


    • BlackMill

      Not to mention the maniacs are positioning the military for war, again and this could be the grand finale, the big bang.

      It’s beyond sensible comprehension, just pure friggin insanity.

  3. Airborne 71

    In this election year the powers that be have no guts to do what is right for our country . Those in power want to keep it an so if the economy tanks , The dollar collapses , Gold is once again illegal to own . the thought peocess is ” Well, we will blame the other party for this mess .” Thanks Mr. President and congress, great job .

  4. George

    Greg and fellow Watchers,
    It is not that people can not understand what is happening it is that People do not want to understand what is going on. If the people face reality, they have to face the decline in the standards of living and the hard times to come. Instead, they choose to party like its 1999 and pretend that the good times of loose credit will return.
    God helps those who help themselves. Preparing for an emergency is a good idea. Do not you have a spare tire in your trunk? So why do you have a little cash, gold, food and firearms stuck in a safe for a real emergency?
    Me, I am working to protect my family and our assets and prepare for the hard times coming. And to all those poor fools that believe the police is here to protect them, they need only to look at the riots in CA where 20 or 30 yards from a police barricade, a truck driver is nearly beaten to death without police intervention. In an emergency, the police are here to protect the government, not the citizen.
    I am one of those dumb asses that voted for Obama believing that there would be positive change not realizing that it was possible for the Dems to control the presidency and both houses of Congress. I was a registered Republican at the time but I realized I was a conservative both fiscally and morally. I take responsibility for my vote and I will never suspend my values and morals to vote for someone.
    My father taught me that to really understand a person, look at their actions, not their words as actions always speak louder. Obama is a grand demagogue but if people only look at his actions and those of Congress to see what is going on they would understand. All I can say is, “Be afraid, be very, very afraid.” The MSM is a propaganda machine painting a rosy picture of fantasy recovery while Congress passes a law allow for people, American Citizens, the President decides are dangerous can be held FOREVER without trial or even a hearing. The government has granted itself power to freeze or seize all assets in a state of emergency on grounds of national security. Then look at how the dictators took over. If you do not see stark, startling parallels, I pity you.
    Even someone of average intelligence can add 2 and 2 to get 4; If they get 5, it is because they are irrational and want to suspend the laws of reason.
    By the way, did anyone see the article by a research saying that the uninformed voter was necessary for a democracy to work? This is shades of Orwell’s 1984 and Rand’s Atlas Shrugged.
    Be Afraid! Be very, very afraid. Let those that have eyes open them and look around before they shuffle of the cliff with the rest of the lemmings that abdicate the freedoms granted by the US Constitution to American citizens.

    • Greg

      Love this quote, “It is not that people can not understand what is happening it is that People do not want to understand what is going on” Amen brother. You had me at hello.

    • Just the Facts

      Well said George.
      Greg’s article just goes to show that regardless of the country or the times–many men would rather deny a hard truth than face it!

    • g.johnson


      don’t be hard on yourself for who you voted for in the last election. you could have voted for mccaine, you know, that guy who co-wrote the indefinite detention bill.

      there is really not much to choose from in our elections anymore (if there ever was). the best we can hope for now is ron paul. beyond him it really makes no difference which corporate shill gets elected. and to be honest, i like dr. paul, so i would not curse him with election. he would, at best, be able to get some messages out there to the uninitiated, but he would be one lonely and elderly man facing a hostile congress and media.

      you are right george. the american dream remains only for those who will not wake up.

      • tony xaviel

        I disagree that the US gov holds 8000 tons of gold.There has been no audit since the 50 ies.I do believe they will confiscate foreign gold which will provoke more hostilities.We no longer are the “good guys”.Our gov has been hijacked by criminals.( the global elites who print “money” and out nothing,charge interest on it) They belong to satanic cult orders ie Bilgerbergs, CFR,Trilaterals,Royal Instutite.They usa Obama to destroy.Here in Calif they hire Chinese to rebuild roads,bredges etc.THEY WILL NOT HIRE AMERICANS TO DO AMERICAN WORK.Reported by ABC news.They are so evil they create the collapse so as to manage it.Why do they have FEMA camps folks? Thry fear the Vets, because they have the ability and will to stop them,once they get over their DU illnesses and the PTSD brought on by following their illegal orders to murder in our name, believing they are patriots or just following orders. The entire fraud war on terror is the war on the US public, to strip( and grope) our remaining rights.Now I know why there is a second amendment

      • Buddy

        When the last presidential election came around, it was apparent that a vote for either of the two major party candidates was a vote for further tyranny. I didn’t vote – – you know that you don’t have to vote for an evil, even if it’s the lesser of two.

        My guess is that the only way to get out of this collective madness is to vote locally, and support local government while divorcing ourselves from the federal.

  5. Edward Ulysses Cate

    In a way, truly understanding economics is similar to truly understanding karate. Master says “You must understand how finger bends.” What is unsaid, that the student must figure out, to truly understand, is all of the implications. It isn’t done in ten easy lessons.

    In economics, a master would say “You must truly understand promises.” I’m sure most folks were told at a young age, “Don’t make promises you can’t keep. and keep the promises you make.” Now it’s up to the student to truly understand all the implications of the fact that ALL paper transactions are promises, even the folding money in your wallet. If promises are being kept, things are good. If promises are not being kept, things are not so good.

    Simple statements, but the implications are enormous. Then you’ll understand who’s telling you the truth and those, such as MSM, who are not. It takes a lot of effort to be able to truly defend yourself from almost daily assaults to your body, your mind and your soul.

  6. Brian

    Great Article Greg,

    What is not to be overlooked is a possible “melt up” in the stock market. Dow + 5% on the year, Hang Seng +14% on the year etc…
    The FED is committed to keeping interest rates at historical lows, the 10year bond currently yields 1.7%. The FED’s ‘mandated’ inflation target stands at around 2% year over year. So as you can see they are committed to stagflation, let alone inflation when the dollar crisis comes.

    I think in the future (if not already) we might witness the shift in the velocity of money from Public investments to private investments particularly in the dividend paying stocks. This is for 2 reasons:
    1. Corporations have more cash stashed on their books since the 80’s takeover boom. In fact they have so much cash stashed some might say their stocks are undervalued.
    2. Why invest in public bonds anyway? The yields don’t keep pace with inflation, and in the case of most governments they don’t have the financial means to pay it back.

    Best Regards, Brian.

    • Greg

      Yes, I think the stock markets will go you right along with the money printing. The problems from that will come later, but the Fed will and is printing enormous amounts of digital cash to try and stop the fall in the economy. Thank you for weighing in.

      • Richard

        The amount of digital cash (ie: credit) that has been created is astounding. I asked Mike Shedlock how many dollars had been created, both real and digital and he sent me this link to see the amount of digital cash (ie: credit) exists as US Dollar credit.

        This is where all of the money “printing” is occuring. And it is astounding. All of that is multiplied off of a scant $3.2 trillion in actual physical cash.

  7. Art Barnes

    “…American manufacturing gutted and shipped to China”, wow, I have been complaining for over 30 years about it, all to deft ears. How does the average Joe like the service job instead of a steady paycheck in manufacturing? The manufacturing jobs go first leaving a service economy, then it slides on to non-union third world type jobs like fast food which cannot support a modern family as we knew it. A strong country all starts with a strong manufacturing based economy which we no longer have. Our two party system both sent the manufacturing companies to China and now refuse to campaign on buying American as first choice to help the gutting slowdown. Lets face it, manufacturing is not coming back to these shores. Our great middle class is being torn to shreds one family at a time without replacement, all at the same time your told by Hanity and those non-realist republican MSM the next election will fix it. You can’t fix something that is so far broken that it can’t be fixed and I think that is what those you quoted above were somewhat to trying to say. I my mind the last option will be a war that will give the Government the contrived necessity to do the emergencies outlined in your article. Your conclusion that a monumental change is coming is a fact but whatever form it actually does take is only speculation but you can bet one thing: it won’t be pretty and liberty will be curtailed along with the economic conditions.

  8. nm

    Jim Quinn says the following:

    “There are 242 million working age Americans. Only 142 million Americans are working. For the math challenged, such as CNBC analysts, that means 100 million working age Americans (41.5%) are not working. But don’t worry, the BLS says the unemployment rate is only 8.3%”.

    If this is the case, then shouldn’t the unemployment rate be 41.5%?

    • Tyson

      Yes and no. Not everyone who is not employed chooses to be employed. Example, my wife left a job as a Pharma counsultant making $180k a year to Homeschool our two daughters. Is she unemployed? Yes but not really. likewise for anyone else who has left the work force voluntarily for a higher calling. Then again, there are those that purposely choose to not work and suck off the teet of mommy government, and those that legitimately can not find work.

      8.3% is a number just to make you feel good. Don’t you feel better? What’s wrong with you?

  9. Barry

    There are so many voices now screaming collapse. It is getting quite shrill. We’ve been living under this cloud for so long now, I just wish I knew when it would all fall apart. I fear for my children.

  10. Cris Reeves

    A great article with some very salient points. The main question now being, how do you prepare for the aforementioned chaos?

    From over here in the UK when I read an on-line article such as one published recently in the Duluth News Tribune stating “Duluth police say they want to treat jewelers and antique dealers like pawn shops when it comes to their dealing in precious metals”….then it’s time to start worrying.

    • Greg

      Thank you for weighing in with your real world reporting from across the pond.

      • Cris Reeves

        No problem Greg. We’re all in the same boat.

        You don’t have to be an economist to understand that, other things being equal, massively increasing the supply of something diminishes its value. Inflation is a cowardly and pernicious form of tax. People who have done the right thing are penalised. Governments expropriate savers. Productivity falls, competitiveness dwindles. That’s why, as our own Chancellor of The Exchequer put it when he was in opposition, printing money is the last resort of desperate governments.

  11. Steve

    Greg, great piece! Quoting the people you did you put a lot of power behind your assessment. From the reading, and listening to interviews, it is spot on.

    Two things in particular:

    The MSM, if it ever really told the truth, two scenarios atleast,

    nobody would believe them


    there would be a run on the banks, the stock market would crash and there would be riots in the streets in an instant. Perhaps its a good thing the MSM isn’t saying how bad things are??

    This quote should scare anybody into action get out of the banking system and protest…

    “it gives any US president dictatorial powers to freeze accounts, seize assets, nationalize banks, and take other radical steps to fight economic collapse in the name of national security.”

    Perhaps when this bill was passed, it had the best intentions at heart, but with the world in debit and most Americans in the same boat, these powers scare me. Why? Let me ask you a question, do you trust your government anymore?


    With the defense bill just passed, that the army can arrest anyone and throw away the key, in my opinion…. the above quote is exactly where we are headed, dictatorship …..scary and like you said, not many Americans even know about this.

    We are heading to the end of a culture and society that will be looked on as the good old days and it will really be the good old days because of the days ahead….the government will control more power and the citizens with less liberty, while the masses listen to American Idol, etc, will be numb and say, we didn’t see it coming.

    • Greg

      Thank you for the analysis and support!

  12. David Conrad

    My friend,

    If you are correct (you usually are) then I think it time for me to pack up and head to Costa Rica. They say it is nice there this time of year! Keep up the good work.

    • Greg

      Thank you David, I’ll pack a few bags and load up the wife.

      • Holly

        If I’m not mistaken, we are headed for a GLOBAL collapse. This to me means GLOBAL, i.e. meaning all countries around the globe. We are now just being held up by Wall St. and fiat money until everyone is ready to collapse at generally the same time. As the ole’ saying goes “you can run, but you can not hide” strongly applies here. We, the world can not walk into the NWO if there are a few standing countries that won’t oblige. So, it’s either oblige or put your boots on, you choose.

        • Greg

          You are spot on in my book. What is happening right now is on a global scale! Thank you for your sharp analysis.

  13. Pat Zeller

    Fantastic article. I forward so many links to family and friends, but it falls on deaf ears. I think this one will be the turning point!

    • Greg

      Thank you for the promotion and support Pat. Don’t forget to take care of yourself.

  14. skyking38

    Most people that read material like this posting are like all others …. main street media addicks included with one exception. We may not be able to change things (short term) however we can make it our goal to be prepared for the inevitable future happenings even if we don’t know exactly how they will be played out. Like saying I will die is true but …. who knows when. Default will happen, but when? We can only be prepared and being prepared is different for each of us. For a pauper being prepared might be one bag of dried beans, while a rich person might have a fortress with ammo, food, water, fuel, gold/silver and the works. Simple motto: Be Prepared!

  15. ONTIME

    It is imperative to remove this administration and their misconceptions of what is good for America, it is equally valuble to remember that, government such as this is why we are in this current predictament and that no matter how badly these utopians think that keynes, socialism and big government are the key to all societal ills, it is really nothing more than a strangulation of the guarantees we were given to maintain and repair by way of the Constitution and the bill of Rights.
    Defying the laws of economics and freemarket capitalism, intruding and making cronyism a part of business is not going to ever create a productive, balanced society, it will infact make elitism and incumbency the means to dictate a status quo that stifles a meaningful nation and a decent, productive manageable economy.

  16. wheatcountry

    Greg, A great piece that everyone in America should read! This is right on and needs a bigger audience. Everyone should share this with friends, family, co-workers etc. I hate to say this but America is about to be judged. God Almighty will not stand by and be thrown out of every facet of our lives. Every time I hear the news anymore some moron is telling us we can’t have God in our schools, public buildings, the military, even at ground zero we can’t have the Cross that bore hope for so many. It’s coming and it will be big. Our founding Fathers would be appalled at our rejection of the very principles this great (past tense) nation was founded upon. Unless we turn back to the bedrock ideals of our forefathers this nation will be held accountable.

    • Greg

      You are lucky to live where you do wheatcountry. Farming communities in the Midwest will do much better than the rest of the country. The USA id the super power of food!!! Thank you for your support and promotion.

  17. mayeeden

    World War Three is prophesied in Revelation Chap. 9 and it breaks out and spreads from the area of the Euphrates River. endtime .com with Irvin Baxter is following this with breaking news stories every day. Go listen to archived radio shows under the radio section.

    • Greg

      Thank you for the comment and content!

  18. Dave

    What they say is likely true, however, we have heard that we are on the brink for 3 years running. Every year I have been told that it is not too late yet and the system can still be saved.

    I have been holding gold and related investments for a few years now, it has not been easy. The shares have done next to nothing…they are actually worth less than when gold was under $1000.00.

    They weren’t kidding when they said this will be a slow motion train wreck..but every year I start to question my sanity in the area of gold investment. In the last three years you could have bought shares in a company that makes lipstick for dogs and you would have out performed gold related shares.

    Just venting here Greg….I know what you say is true but it could be many years before any kind of hard times hit.

    • Greg

      I have not been telling folks we are on the brink until recently. Many have been forecasting a crash in late 2012 OF early 2013. The Fed will once again pump out tons of dollars to bailout its buddies but the reaction in terms of inflation will be more severe. If there is war in the ME, forget it we will be in for a very hard landing. Thank you for the comment and you can always vent here anytime!!


    • M SMITH

      I would check out, I will leave it at that! Greg, gives the truth & it’s a blast of fresh air! Thanks Greg..
      Daily Reader

      • Greg

        M Smith,
        Breath deep my friend! Thank you for the kind words.

      • Nick

        I concur! FOFOA has some of the most erudite and spot-on insight into the future of the dollar and gold. Cheers.

    • Susan

      Dave – Buy coin. Don’t leave a gold or silver investment anywhere where you cannot physically put your hands on it.

    • Buddy

      It is not only imperative to remove this administration but to also remove all federal administrations from the awesome power that has been accumulated by the federals. There is nothing sacred about the USA union.

  19. William S

    Greg, I am sure I speak for most lucky enough to find your sight that you are a beacon of light for all of us who have suffered through the propaganda and disinformation from the criminal MSM for many years. I have known for decades that the predominately New York criminal MSM cartel was nothing more than a propaganda outlet for the corrupt financial kleptocracy that runs the government, unfortunately, I am not a writer nor do I have your credentials as a reporter.

    Greg Sir, you are an honorable person. I am sure you make less money being honorable and honest, but someday Sir your will get your reward for being a man of honor and integrity, and please know that real Americans that are awake and understand the how screwed up our country is REALLY TRULY APPRECIATE truth telling sights like yours.

    Thank you, thank you, thank you. Everyone on this sight needs to do their part and pass Greg’s web site around to everyone you know.

    • Greg

      William S,
      I am so honored by your comment and support–THANK YOU!

  20. Dave

    Thank you for the reply Greg

    I guess at certain points I feel like one of those weirdo types who hid out in the mountains 30 years ago waiting for the end of the world…which never came.
    Most people I know think I am a fool who is listening to a bunch of outlier commentators. MSM does not make it any easier. I have gotten to the point where I no longer talk to people about it.

    Oh well…time will tell.


  21. Terry

    I have a question, is it better to pull out my 401K and pay off the house and take the hit with penalty and tax or let it ride and hope for the best. I’m working on getting out of debit but it is slow going. I am prepping food and stuff but it’s little at a time. Any advise would be great. If (or when) the dollar goes, what will happen with what little money I do have and what happens to the my debt.

    • Greg

      After the MF Global bankruptcy I seriously question the integrity of the stock market and brokerages. $1.2 billion of segregated client assets are still “missing.” The decision is yours and yours alone. Good luck. Anyone else want to take a shot at this question.

  22. Nick

    A most laconic analysis, Greg. I haven’t seem someone be able to write such an accurate depiction of where we are headed in so few words. I fear if one were to read this and not ‘get it’, it may be lost for them. So many are asleep, thank you for waking people up! I don’t know how long this game of charades can continue, but for the unprepared Americans, I hope it drags on longer so they may find their own ‘enlightening’ moment, and prepare.

    • Greg

      If I can only wake up a few then at least I have done something. Thank you for your kind words.

  23. Ted Heath


    Im am a high end paint manufacturer. In 2008 my sales dropped by way over 50% and have never recovered in fact still slowly decline. My raw material costs have gone up over 150% and in some instances they have gone up 200% in 6 years. I have not been able to pass much of the costs on to the customer. But, according to the Fed inflation is no risk and housing is recoving.

    I was recently talking to a Branch Manager for a large Regional Accounting firm, he is a CPA. I told him I was concerned about eventualy hyperinflation like where a wheel barrel of dollars would not buy a loaf of bread, but you can sure go down and pay your mortgage off with it. He said “they (meaning the Fed) wont let it go that far”. So here is a super smart accountant saying he believes the Fed is still totally in control. Because of the Main Stream Media, the Sheeple get slaughtered in their sleep, even many of the really smart ones.

    Imagine a bunch of people driving down the Freeway in heavy Fog conditions. The bridge up ahead is out and there is a huge drop off to the ocean below. Guys like Greg are standing in the middle of the Freeway entrance the Bridge waving their arms and screaming “STOP BRIGE OUT AHEAD”. Some stop, most people turn to the other passengers in the car and say “look at that nut screaming and wildly waving his arms to try to stop traffic” as the barrel ahead down the road.

    Im sure sometimes being right and doing the right thing is a lonely place to be but we stand with you Greg and respect and admire your efforts. Keep up the good work and thank you for sharing your insight and knowledge.


    • Greg

      Ted Heath,
      Thank you for the reporting from the front lines of the real economy.

  24. Luis Chavez

    Greg, I wish your views were wrong…. but sorrowfully,
    you are right on the money.
    I hope, we all be ready for it.
    Luis Chavez Romo
    Queteraro, Mexico

  25. Liquid Motion

    Lies , LIES & DAMN LIES…..the TRUTH is out there.
    It’s for all and sundry to find it …and more importantly believe it.
    What MSM (Govt/CB’s) do not want to do is warn the proletariat..of the imminent danger ahead. TPTB have control for as long as the masses are not aware/remain complacement.
    Sure I understand the “living in denial mentality” as much as the “less educated”. But centrally planned economies have structured themselves to ensure that “knowledge” does not dissipate into the population at large. The less they know…the better….!
    What I read and comprehend and understand about the happenings of the world, is difficult to pass onto others who aren’t like minded. You are seen as a crackpot, some even look at you weirdly…while others are too simplistic in the attitude or are believers in the governments of the world being the saviours of their souls. Even quoting experts in the various fields seems at times, to fall on deaf ears. No one wants to know (cares) !!!
    In a world contructed of debt /credit cycles and debt money, we all live in servitude. Freedoms are limited and our course is predetermined.
    Survival is as much about understanding as it is preparing …but to what end, when everything we have, every singular possession becomes literally a “subjective possession”.
    Playing conspiracy theorist games with the MSM/Govts./CB’s is becoming quite the art form fact the norm….almost like a sport..if I may add. Who can disprove the “facts” the fastest with the most convincing argument. Whose crystal ball is the clearest..
    No one knows the future or what it holds….the danger is however that our thoughts become actions…and our actions can become destructive. A self fulfilling process which once it gathers pace, like a tidal wave, it becomes unstoppable.
    The Central Planners perhaps know how this all unfolds and expect to be able to reconstruct once the clouds have parted.
    On the other hand…I DONT THINK SO !!

  26. slingshot

    Greg. I do admire your ability to write, “In Your Face”, articles. Your weekly wrap up is a well defined condensed version of the news. Even more appreciated is the commentary by those who speak out on the issues at hand. It is remarkable that there are many who take these issues lightly, even as the implications may directly or indirectly have dire consequences in their lives. As we approach the line of demarcation, the urgency will increase to a level never seen before. Acts of desparation will fill the news broadcasts.
    Watching the primaries, one has to look at the numbers of the returns. The tell tale signs of where the country is headed. In spite of all the government intrusion, the feeling of “Don’t Rock the Boat” prevails. Another point is the amount of replies here at USAWATCHDOG are comparably low to other sites that are less informative. I have seen Greg’s commentary at other sites and I can not fathom why the replies are not in the hundreds at this stage of the GAME. This concerns me.
    There are many with the money and preparation to flee the USA. Even George Bush has a farm in Paraguay as I read. So if the Big Boys can do it, more power to you. The fact is, sooner or later the same problems will reach you no matter where you go. Its going global.
    To Prepare or Not to Prepare, that is the question. Whether to Trust the Government or do what is necessary to Safeguard my Country and Family. This is by no means a simple undertaking and the decision to do so can be stressful and I truly understand those who make household decisions instead of preps which include gold, silver, guns and other items. Do what you can and stay informed.
    I have been a long time reader of USAWATCHDOG and Greg, has never been an alarmists. “Just The Facts, as SGT. Joe Friday would say. I applaud those who have maintained the wisdom of many years, conviction in their beliefs and the backbone to put it on the line.

    Greg, is one of them.

    I want to be honest here. First time readers have a long way to go to understand the depth of the trouble we are in, to the point that it may be impossible as there are many tangents that are major influences. Deception is the name of the game and the only way to see the truth is to search for it. There are many commentaries that explain the effect but not the cause or the surface cause and not the underlying one. Reading Mr.Peter Schiff. Mr.Tibbits from the Rolling Stone, Max Kaiser. Mr. Celente and sites like the Daily Bell, Golden Jackass, Dollar Collaspe are very informative. You must go further back to Another and Friend of Another and the Trail, who have long stopped their comments. Friend of Friend of Another has a site and it it is well worth the time reading. A great deal of what they have said has come true.
    With DHS, the Presidents, Execitive orders to suspend the internet, even Greg will, “Go To Ground”. That is,”Fall Silent”.

    • Greg

      Thank you Sling!!

  27. Don Quixote

    THX 1138, I can see many of you are not going to like your white suits, assigned living quarters and jobs. Ahh, life in the dome and little pills to keep you happy. Move along, nothing to see here. You won’t be needing your gold and guns. We have your best interests at heart. BTW, how old are you?

  28. Dirk

    What a pleasure to find this article {via Sinclair’s site} and the commentary afterwards.
    You can’t always put a finger on why a situation is bad, sometimes you just get that bad vibe/feeling.
    We’re approaching the rocks and the officers and crew are partying like there’s no tomorrow. Tomorrow will come and America’s true Patriots will be needed.
    Looks like most here will be able to step up when the time comes. God Bless and stay strong.
    Thank you Greg for your thoughts and insight!
    Carry on.

    • Greg

      Thank you Dirk.

  29. Brad

    Had a discussion last weekend at a duck club with a friend that worked inside the beltway about the current state of affairs. He immediately went into politician mode bemoaning the difficulty of keeping everyone in every area of the u.s. happy while cutting spending. Saying we have to be careful about cutting too much from this group or that one, and, oh yeah, we have to make sure the opposing side can get on board with it. I’m sure you know what I’m talking about.

    He asked me how I felt about the situation. Wrong question to ask. All I said was, “We are screwed.”. He then said I had to be more specific. I basically said that I was a realist, and that everyone else arguing over how to treat the cancer patient, while important, was reaching a point of diminishing returns. Meanwhile, while they are arguing, I am looking over everyone’s head at the clock behind them and asking the question of whether the cancer is even still treatable, or, at the least, how radical will the treatment have to be in order to save the patient, not whether the patient will like the treatment that will save his or her life.

    As I told him, all that ever matters in any situation is the end resultan regardless of what excuses are profered up. In this case, regardless of how many excuses are applied or how much arguing is done, which drains vital time from the decision making process, in the end the patient either lives or dies. I told him that the opposing party or some lobbyist or some group is no longer everyone’s enemy…the enemy now is a clock silently hanging on a wall.

    It’s like they’re wired to think that everything is fixable if you just make enough people happy. Great guy though.

  30. norcar survivor

    Lets remember that Obama selected the head of GE as his jobs czar. and what did we get, a major shift of GE jobs to Chine. Did we see any repercussions for that move? Not even a ripple. our country is both blind and negligent in it’s ability to see the future. A few of us warn and prepare while others like Greg shout it from the roof tops and yet we are the paranoid, backwoods hicks clinging to our “Guns and Bibles”. well truth is we are clinging to those things and a lot of other things too and when the SHTF occurs, they will be running around like scared children because that is what the Government wants them to be. Problem Mom and Dad are not waiting in the wings to swoop in and save them. Then the true meaning of a powerless citizenry will be more apparent than ever. God help us all. None of us who prepare take any joy in being right when this all comes down. I am reminded of occasions when you see a small child doing something stupid and you know that it will lead to pain and suffering and just before the parent turns around, it happens. Your heart just melts for the child and you pity the poor soul for not knowing and resent the parent for not paying attention. That’s where we are. People are standing up in the shopping cart of life reaching out just a little too far and we car see the cart tipping. I am not going to watch, but I know I will hear the screams anyway. Peace to all and be ready.

  31. Nigel Addison


    Very interesting read. Many of us will no be surprised by the fact that a crash is coming – it is an almost tangible feeling in the air. All we can do is prepare as best we can to help our families and local community. It does not help when the people around you think you have lost the plot however. I will be sending your article to as many as I can (incidentally – I found your article as a link from Llamedos). I fully expect the government to make owning gold illegal eventually and a gold confiscation event will occur. It has happened in the past.

    We need to get the message out in our own small way to make more people aware. Funnily enough I heard a radio interview with a “respected” economist on BBC Radio 4 Today pogramme this am. he was comparing the austerity measures we are taking in the UK with the keynesian approach by the USA and stating that the USA are doing better as a result!!. So, there you have it, printing money out of fresh air is the secret to solving this catastrophe (sarcasm)

    Keep up the good work

  32. Wild Bill

    “To contract new debts is not the way to pay old ones.”

    George Washington, letter to James Welch, Apr. 7, 1799

  33. Sean

    If you are a globalist, how do you get patriotic Americans to agree to sacrificing national sovereignty in exchange for integration into a broad regional governing system like the EU?

    It’s not easy. You either face the fact that there will be serious bloodshed and you go to war against a well armed population.

    Or… you incrementally deconstruct and reduce American confidence in the current system by breaking every important aspect of the country, until you reach a point where a solution that integrates the United States with other nations is appealing to the majority of voters who have not been taught critical thinking, political science, or sound economics.

    That’s what we’re witnessing today. The globalists expect a significant amount of resistance to the plan, so while they are in the process of breaking down trusted institutions and decimating the economy , the globalists are also using their control over Congress and the White House to implement laws that will enable them to crack down hard, fast, and strong on any citizen who stands up to defend national sovereignty and the US Constitution.

  34. riogranderoadkill

    Great article! (As usual.)
    I have a theory that the reason the MSM caters to the administration is that in the not-to-distant future THEY will need a bailout. How could the liberal powers deny a “loan” to their best supporters? The spin of the unemployment stats from last week exemplify the constant pumping of the administrations hype.
    I have no doubt that the MSM caters to their advertisers also because an economy that isn’t booming provides less advertising money. Even FOX financial (Excluding Charles Payne and Liz McDonald, sometimes) has become complacent on questioning the facts and figures thrown out by the government.
    Sometimes I think that if Ron Paul isn’t on the November ballot, I’ll just vote to re-elect President Obama and get this game of kick-the-can over with. Then after he destroys the economy we can rebuild based on the lessons of the last hundred years. Of course my logical wife points out that if we couldn’t stop them from destroying the nation, how can we expect them to rebuild any better?

  35. Martin


    It has been there to see all along– it just seemed too far fetched that a sitting U.S. President could adhere to such a destructive set of beliefs.

    “Although speculative, if the Cloward-Piven strategy is the basis of the left’s game plan, spearheaded by Alinsky devotee Barack Obama, it certainly explains the President’s inaction and detached attitude.
    The greatest nation in the history of the world is teetering on the brink of a catastrophic economic crisis. America was pushed to this point by a rapidly-expanding national debt and a stressed-out entitlement system; in the center of this crisis is the President, who insists on expanding it even further, all in the name “fairness” and “social justice.”
    As a default date nears and the President threatens seniors that there’s a chance they may not receive their Social Security checks, it has been revealed that the federal government disperses a stunning 80 million checks a month, which means that about a third of the US adult population could be receiving some sort of entitlement.
    Since the 1960’s when Cloward-Piven presented a socialistic guideline to usher in the type of evenhandedness Obama lauds, America’s entitlement rolls have swelled from eight million to 80 million. If the nation’s ability to disperse handouts were ever disrupted, it’s not hard to see how chaos would erupt should an angry army of millions demand what Cloward-Piven called “the right to income.”

    Read more:

    As we wind up at yet another “CRISIS” (IRAN) -I would like ONE reason why the Keystone pipeline has not been started -YESTERDAY – – WE ALL KNOW THERE ISN’T ONE. AS the Canadian Prime Minister visits China to sell them the oil that the U.S. under the C-P act refuses to buy. Accident?– Yeah right !!

  36. Jim Hardy

    Greg, while I do not dispute anything you said, I cannot help but feel there is more to this picture than meets the eye.
    After all why would the powers that be bring down their very own system?
    Could it possibly be that there is a long term plan to save the economy through war much as was done in WWII?
    We have in recent years seen covert wars on the Yen and the Euro.
    We are arguably on the verge of monopolizing the oil supplies of the middle east.
    Is it possible that the whole worldwide financial fiasco is simply a form of economic warfare in which while we are suffering to some extent, but is bankrupting the major economies of the rest of the world to a much larger extent.
    If the Yen and Euro are taken out of the world trade picture, would that not leave the Dollar as the only alternative for worldwide trade? Would not that demand for dollars then not increase our ability to run ever higher and higher deficits?

    • Buddy


      In answer to your questions, the powers that be a filled with their own hubris. The next war will be soon, as Israel and its patron are already readying to war against Iran. No, the USA won’t monopolize mid-east oil – – too much competition for it. The financial fiasco is most probably from political promises which had no bases. The US$ probably won’t survive at negative interest rates.

  37. Bob

    Always “Doom and Gloom” with you guys.

    • Greg

      Please tellus all some really good bonified news. Be my guest.

  38. Sean

    Time to duck and cover. BDI has fallen lower than it did in early 2008:

  39. TNGirl

    One of the best things about your website is the delightful commentary that follows each article.
    It is comforting to know that now, in the early stages of this economic and social “capitulation”, that there are others who see the truth and who are making preparations accordingly. This is the hope for the future.
    Those who choose to ready themselves(financially, physically, spritually, psychologically etc., etc.) will prevail. Even if nothing happens, these skills, at the least, are beneficial to our existence and well being.
    I think my grandmother called it “common sense”. Of course, she also said that you can’t cure diarrhea when you drink downstream from the cows.
    Now those are words of wisdom.

    • Greg

      TN Girl,
      Love the words of wisdom!!! My folks have a farm in Missouri. I pass through TN often and it is really beautiful!!

  40. Tom

    Obama wants to collapse the economy. Then he will make the claim that capitalism is a failed economic system.
    The real truth is that the USA has not had a true capitalistic system since the Federal Reserve was established in 1913.

    • Greg

      You may be right. The new $25 billion mortgage fraud deal will expedite the collapse of real estate in this country not prop it up.

  41. Pete Moss

    a year ago when silver hit a high of 50.00 or so
    I was hearing about this being the top, that silver was frothy.
    I also heard the idea that selling silver then, and buying gold may be a good idea.
    I headed off to the local coin store and sold some silver,
    same day bought gold with the proceedes.
    Dealer didn’t want to just “trade”
    “make one transaction, sell silver, then buy the gold”
    I was happy to see over time that gold held its value
    while silver was struggling, (still like silver though)
    I asked the dealer if he was going to issue a 1099
    “No” he said “but you will have a tax consequence”

    recently I have been reading that the previous capital gains law
    had expired, for weeks I searched the web as to what the new
    cap. gains tax would be for ’11
    interestingly (ugh) the rate would be your tax bracket 15%-25%
    later that changed to 28% for long term cap gains
    less if kept for less than 1 year.
    for years there have been views about the P.M markets and the threat of confiscation…
    sell some silver… there is your confiscation…
    some one please tell that I have bad info about this
    going to see the accountant next week

    • Greg

      You have no duty to report unless you sell. Then you pay tax only on the gain. Thank you for sharing.

  42. Tom Nacey

    I pledge allegiance to the flag of the United States of America
    and to the Republic for which it stood,

  43. kenny

    Right on Watch Dog……..the website where truthbetold………GOD BLESS YOU.

  44. Holly

    I recommend the book “Cold Sun” this is going to be a game changer for everyone. The author is John L Casey, available on Amazon for about 15 dollars. I am sure this is no accident either.

  45. B Danielsson

    The best anyone can aim for now is to come through the storm relatively unscathed, and hopefully be able to build something good from the debris and rubble. This makes me break out in a cold sweat!

  46. B Danielsson

    Here is a poignant piece written by a coping mom in Ireland. We will all be in the same boat…

  47. AJ

    I’m going to go commit suicide now.

    • Greg

      Don’t Please don’t. Take action and do not give up!! There is still time to put yourself in a better position.

  48. moe

    to riogranderoadkill: The reason that the politicians do the bidding of the MSM is because of the FACT that they (MSM) make allot of money during each election. Where do all those millions of dollars go from the campaigns?

  49. Fallon T Gordon Sr MD

    The best chance we have is to return to The Constitutional government the Founders and Framers have given us! This would require getting rid of The Federal Reserve, adding a Gold Standard, electing a Constitutional President [There is only one running], electing only a Constitutionalist Congress and making sure our present and past laws are Constitutional. These measures would get rid of ALL of the debt and return us to the only government that has been successful in our past history. This is easy to accomplish! Just make sure to elect Constitutionalists for President, Vice President, Congress and the same for our State Governments. This is a sure-fire way out of the economic mess and give us restoration of our basic government.

  50. TN MadMax

    I’ve been in middle TN. all my life and in the last decade or so seen countless companies, places of businesses excedra go out of business or move to Mexico and they are still dropping off like flies here….Here are just a couple few everyone may know about or heard of-Warnaco,Samsonite,Carriers…. Point is they’ve been leaving for quite some time now and with every move to Mexico or going out of business here I have seen countless friends and family members afflicted by these adversities…So does anyone even know why they’ve been leaving? I’ll tell you why, because slowly but surely they have been gleaming a short glimpse into this once great nations demise and it’s not so distant future to come by way of others losses and corporation leaving and failing and moving out to 3rd world countries because we’re going broke or already are more like it and they knew it! That’s why… And they’re still collapsing and leaving as we speak! We’ve only seen the tip of the iceberg folks the whole berg is yet to be seen! And u can bet on that… Because I see it everyday and its only getting worse….This Country is collapsing all around us and most are to blind to see or simply just choose not to and that’s sad…I use to be proud to be an American but now I’m not so sure and would’ve probably been better off to be a china man because they are gonna own us in the end anyway along with every other country probably… We’re so far in debt to them that it isn’t even funny…. Before it’s over with the company I work for might move to Mexico because just about every other one is….Guess all we can do now is sit back and see what happens in the end game because it’s just about here…Crime is at it’s highest here and rising,families at a record homelessness and on and on and on… So whoever sees it’s getting better or thinking it is, is only dreaming… Everyone needs to wake up and smell the coffee because it’s coming….

  51. John

    I have been looking around in new subdivions, and familiar with builders types of homes offered. The agents usually have a few homes currently being built they call ‘inventory’ homes. These homes on paper have all the upgrades which would cost us more, but they are selling at a 20% discount. I can understand if a home has been on the market already built for some time, and you can’t sell, they then lower the listing, but these are homes not yet finished. Anyway I don’t understand how they can sell it that much cheaper (i.e. sounds too good to be true). Ex. a home model with upgrades would be selling for 310K (if I had it built new), but an ‘inventory’ home they have being built now with those optionis is listed for 260K. If the home has the new options, how can they get away with selling it for 260, and how does it differ from me walking in to have them start building a home with options that push it over 310.

    Thanks in advance

  52. Monnie Matthews

    “Washington’s 8,000 tons of gold”—-I’m willing to bet that most or all our gold has been leased out or otherwise obligated to foreign creditors. I’d also bet that much of our infrastructure and land have been pledged as collateral. You know the finale is near when so many experts are all going on record with predictions of catastrophe.

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