Dollar on the Brink of Disaster-John Williams

WILLIAMS_092_wade.JPGBy Greg Hunter’s  (Early Sunday Release)

Economist John Williams has a dire prediction for the U.S. dollar.  Williams says, “I don’t see what will save it at this point. . . . Now we are to the point that the dollar has been ignored for years.  The federal deficit has been ignored for years. . . . That’s what we are on the brink of disaster with, and that is what has to be addressed now, and that’s not happening.”  Williams also contends, “The way I see it, the dollar could go to zero in terms of its purchasing power.  You don’t want to have your assets in U.S. dollars.”   How are we going to get there?  Look no further that the dismal first quarter gross domestic product (GDP) numbers that officially only eked out .1% growth.  This is one of the reasons why Williams thinks a “renewed broad economic downturn continues to unfold.”  Williams goes on to say, “We’re turning down a new.  The first quarter should be revised to negative territory, and I believe the second quarter will be reported negative as well.  That will happen by July 30 when you have the annual revisions to the GDP.  In reality, the economy is much weaker than that . . . . Generally, when you adjust for inflation and you use too low of a rate for inflation, that overstates the economic growth.” 

Williams says the government rigs the economic numbers, and it gives a false impression of recovery.  When you remove all the accounting gimmicks, Williams says, “Starting with the recession that started with the end of 2007. . . . in reality, it was more of a plunge and then stagnation. . . . What we’re seeing is we’ve been stagnant and bottom bouncing and maybe a little bit higher, but we are turning down again.  The reason for this is the consumer is strapped and doesn’t have the liquidity to fuel growth in consumption.   Median household income, net of inflation, is as low as it was in 1967.  The average guy is not staying ahead of inflation.  For decades, you could get consumption from the future by borrowing more money and expanding your debt.  That all blew apart in 2007 and 2008.  Now, you don’t have the ability to borrow money the way you used to, and without that, there is no way consumption can grow faster than the rate of inflation. . . . There is no way you can have positive sustainable growth in the economy without the consumer being healthy.  It’s just not going to happen.” 

So, with another “plunge” in the economy coming, how’s the dollar going to hold up?  Williams explains, “You are not seeing an annual deficit of $400 or $500 billion dollars.  You are really seeing something close to $6 trillion.  That is beyond control, and it raises the question of long term solvency of the U.S.  It is a big concern for the global markets.  It’s really the reason why nobody outside the United States wants to hold the dollar.  Now, look at the U.S. economy, it is turning down.  Economic strength is a big factor in the value of a currency.  As the renewed downturn gains wider acceptance or wider recognition, that will intensify the selling pressure.  When someone starts selling, it’s going to be a race for the door, and I am looking for a dollar selling panic to be the trigger for the onset of hyperinflation.”  What we are seeing in inflation now is a pickup in inflation, but it’s not a hyperinflation.  Massive dollar selling–that will be the trigger for the hyperinflation.” 

On the budget deficit, Williams predicts an explosion of U.S. debt.  He says, “All the projections on the budget deficit are based on positive economic growth going forward.  With the ongoing contraction, you’ll see a much worse budget deficit.  It’s going to do bad things to the banking system.  The Fed is going to be easing, and they’ll say they are easing to stimulate the economy; but in reality, they’ll be doing this to prop up the banking system.  The rest of the world sees this and they don’t want to hold the dollar, and they will sell off the dollar.  The Fed is going to have to come in and prop up the system until it falls apart.”

 Join Greg Hunter as he goes One-on-One with economist John Williams, founder of 

(There is much, much more in the video interview.) 

After the Interview: 

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  1. Stu

    Greg, Thanks for having John Williams on again. His courage to show the true economic statistical trends is unwavering and the political machines are only willing to tell us what they think we want to hear to stay the course. The US Fed’s quiver is empty other than US Dollar manipulation. BRICS & Associates are spending dollars on tangible assets including US Real Estate and once they minimize their exposure to dollars the plug will be pulled.
    We are seeing epic proportions of corruption in banking and political networking including foreign lobbyist buying influence in Washington D.C.
    The system is allowing global (NWO) priorities to trump USA needs. In other words, our political leaders are too focused on issues abroad than those at home like creating jobs in America. Their behavior is testing the resolve of Constitutional America Patriots by ignoring the US Constitution in their actions to make it null & void in the New World Order. But the Constitution will rise again and American order will be restored.

    • Greg Hunter

      Thank you Stu.

  2. Ugly

    I am seeing inflation. Went to the garden center and noticed seeds prices higher than last year. Sweet corn packets, larger ones, were near $6 for not too much seed. A tomato transplant of Beef Steak was $3.30. Fertilizer and pesticides up in price too. I can buy this cheaper at one or two stores, but it does show how many outlets are raising prices to keep profitable. Bought propane at $4 per gallon. We live in a dollar system, but friends we need to buy tangibles. They are rising….

  3. Ugly

    American Friends, our Govt says we have a $17T dollar economy (now I will give 15 minute pause so all can quit laughing). Let’s use John’s $6T annual deficits, which are probably very close, thus that means our deficit spending is 35% of the entire economy. That means to have a stable dollar, 35% will have to come somewhere. That is either inflation, taxes, or devaluation, or all the above. This also means 35% per year for 3 years is over 100%. So, what do we really think is going to happen soon?

  4. Randy

    Greg, thank you for having Mr Williams back, he calls em as he sees em. After all, math IS math. If I may, I would like to share a link to a blogger who has allowed me to get my simple mind around the deflation, inflation, hyperinflation debacle . They are tedious , many thousand word essays but educational. He mentions several of your guests (in positive respectful ways) in many posts.

  5. Dan

    Peter Schiff and Paul Craig Roberts have been making similar statements. Remember that the debt exploded when the Democrats took over the purse strings in Jan 2008. If the Democrats inherited any deficit, it was the 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. Since then we’ve created more debt as a nation than in all of the years from our country’s founding through the year 2008 combined. The Fed thinks QE is the answer to the problem, but all that does is postpone the inevitable. I think this is by design: “We are on the verge of a global transformation. All we need is the right major crisis and the nations will accept the New World Order.” -David Rockefeller

    • bobnoxy

      Bush Jr. doubled the national debt, and we know that Reagan tripled it. And the first trillion dollar deficit was signed into law by Bush Jr.

      So this is all the Democrats’ fault why? Your facts coming from Fox News?

      When Clinton was ending his second term, Greenspan went before Congress warning that at the pace we were on, the national debt would be paid off in ten years, and to him, that wasn’t a good thing.

      You can Google that. It really happened.

      • Greg Hunter

        My 2 cents–both parties just take turns ripping us off. That said, the Obama Administration has turbo-charged the debt picture. Under his Presidency the national debt has acquired more debt than all past presidents–combined. Stunning, and I am not sure a Republican president would have done anything differently.

      • tonyn

        i was unaware that any of those presidents increased the debt. i was under the assumption that Congress did that . . .

        I’ll admit that I didn’t Google it so I could be wrong, I used the Constitution as my source. (Article 1, Section 8)

        But don’t take my word for it. Go to the US Treasury website and check out the numbers for yourself:

        Use the dates and political affiliations of the majorities in CONGRESS and you will see that the DEM controlled congresses dwarf what REP controlled congresses.

        Or you wont.

        • bobnoxy

          You almost make it seem like the president just rides along with what Congress says. You’re right, it is supposed to be Congress that sets spending and tax law, starting in the House.

          But Reagan pushed hard for re-arming the military and deficit spending to boost the economy, and Bush Jr. pushed hard for tax cuts while waging two wars.

          In both cases, Congress went along with one popular leader, and one that was ”a war president” and of course, cowed into going along for fear of being painted unpatriotic, weak on terrorists or simply un-American.

          Greg, I agree that both parties sold us out and all are responsible. Obama? Huge disappointment, no doubt.
          But the spending by Reagan and Bush Jr. are well documented, and no one ever dared cut taxes while starting one, not to mention, two wars.

          Remember ”Reagan proved the deficits don’t matter”?

          • Mike Soon Over

            All actions have reactions, Carter had the nation in a troublesome time. We were about to collapse due to a 50 percent climb in inflation over a 5 year time period. If you recall gold went to $800 a oz. Japan in 1978 would not take US dollars in commerce. Blue team red team is for the uninformed. Both sides sell us out. Just my 2 cents, no harm meant.

      • JC. Davis

        bobnoxy, You are correct. I must add the American government is not a democracy , nor a republic, it is a oligarchy. Big banks run the elected offices. All of them from the ground up. Voting is a waste of time if one is looking for improvements. Republicans, and democrats both have sold the country to the highest bidder….THE BANKS BOUGHT US IN 1913

      • Galaxy 500

        So the debt was going to be paid off in ten years under clintonian policy? Hahahah
        people have to start thinking for yourself and take a basic math course wouldbe good too

        • bobnoxy

          Er…actually, yes, but you could have looked it up before jumping in like that. I saved you the trouble.

          Which math course were you taking when this was going on?

          • Greg Hunter

            You don’t really think the deficit is actually shrinking? You seriously do not believe the government numbers do you? Even USA Today admitted the debt was much higher than the “official” numbers a few years back: The debt is still growing and the “official” numbers are still a sham. USA Today is hardly a right-wing publication. Look at what Laurence Kotlikoff (a Democrat) said here on a few months ago : John Williams of recently said on USAW the deficit really grew at a $6 trillion annual pace and he gets his data from the U.S. Treasury. Link: You are starting to sound like a paid troll from the Democratic party. (Both parties have paid trolls, by the way.) If you are trying for some spin to make the Republicans look bad and Dems look good please go somewhere else. Both parties are to blame for the enormous mess we are in. The Dems are taking the heat now because they are the party in power. It is that simple.

          • Galaxy 500

            I have dual degrees in accounting. Sorry that you believe this BS but unlike you, I can do basic math (OK, I can also do calculus, quadratic equations and imaginary numbers but I didnt want you to feel overwhelmed as this is simple arithmetic) and I understand that their calculations were not based in real account or math but uses special “government” accounting that wed put a corporation in jail if they used it on a financial statement. Like you said, check before you right something so f’ing ignorant. Real world big boy math figures in future liabilities and the real amounts spent.
            Low information voters like you piss me off asthey believe anything some writes that support their position even when they know its make believe. …especially when they know its make believe.
            Good luck Dude. Make sure you stop and asked the crossing guard before you enter the intersection.

          • John

            What you failed to realize is that all of these rosy projections were made during the Y2K Scam, the biggest tech bubble in history.

  6. Eschew Obfuscation

    John Williams says hyperinflation will be here by the end of 2014. Where is the calm, assuring presence of Martin Armstrong when you need him most. LOL!

    • Galaxy 500

      While Mr Armstrong states that the Roman Empire expanded its debt without inflation till it collapsed, as you suggest, the plain and simple facts dont support this fairy tale conclusion.
      Economic pressures (being unable to pay its bills) forced it to contract and collapse in on itself until there was nothing left. If massive debasement of currency is not inflation, then the world is flat and natioanl socialists (Pelosi, Reid, Obama) are good people.

      • Galaxy 500

        From the CE 240’s to CE 270’s, the Roman Antoninianus (double denarius) went from about 40% silver by weight to about 2%, 1/20th of the amount of the from 30 years earlier. Pay for Roman soldiers more than doubled while the cost of wheat tripled. Sound familiar?

  7. vincentg

    I hope this viewpoint goes mainstream.

    But even if it does we can’t fix this system for if we try it will cause a total collapse.
    We have past the point of no return several years ago.

    Fiat money doesn’t work!

    All we can do is wait till the system breaks down and then if we learned our lesson we can go back to a Gold and Silver based system and do away with the Federal Reserve.

    We never really needed a Reserve Bank.
    It was sold to us as the savior, the lender of last resort, should things get bad in the economy.
    That is the the first step to making banks more important than all others in this country.

    All that was needed was an insurance system for depositors.

    Do loans ever disappear when a bank goes bankrupt?
    If your next door neighbor lends you $500 and dies do you owe the money to his heirs?

    Banks in the past have given loans went out of business and the loans were picked up by other banks. Those banks then foreclosed on mortgages of properties of loans they acquired from defunct banks.
    But the depositors of these defunct banks lost all their money
    This system needs to be better thought out else we will repeat this cycle over and over

    The laws created since the creation of the Federal Reserve in 1913 have all been leaning towards giving the banks what ever they want.

    But no matter how they structure it still the depositors lose as it’s the depositors that foot the bill for inflation.

    Add to this the problem of all the manics on Wall Street that come up with new ways to sell the same products twice or try to create fail safe bets that always seem to blow up in spectacular fashion.

    There’s a lot to do in order to put things right.
    But will those that take control do what’s right?

    I doubt it.

  8. Mark Brander

    Greg will you please post this comment so that people can know about the Obama prophecies received by Pastor TD Hale and prophet Linda Newkirk? It is important for people to know who it is that is occupying the White House and why he has been deliberately spending the USA into bankruptcy.

    • Mark Brander

      Forgot to mention the website Greg…

      • Galaxy 500

        really? Last photo I took on a plane had the same optical illusions caused by dbl paned glass and bright light. And you are putting this as some mystery from God.
        Check please….its time to leave the bar

        • Mark Brander

          Yeah ‘Dude’ really…. If you had taken some time to look at the videos you would have seen they are also be photographed with the second sun in other captures as well, including one from the Hawaii Observatory…

          • Galaxy 500

            its called optical illusion. Or are you part of the Heavens Gate cult looking for that spaceship in the tail of a comet? I see a lot of people trying to lead believers astray. You see, this book I am rather fond of, its called The Bible, warns me about people peddling BS

  9. george

    Hi Greg, another good report, just would like to know more about the preparedness one should take to be ready outside of food and gold, is there a way to get that information to a person in basic terms. Perhaps like top five things to do before anything happens.
    thank you…

    • Diane Ryan

      George, yes the thought of prepping can be daunting. Here is one approach; a list for every week for one year. You can modify it to meet your needs, climate, etc.

      Prepping is big out here is the Pacific Northwest. About 50 families were represented at a get-together last week. One of the best recommendations came from a savvy old timer replying to a younger family which just moved here. He urge him to have 2 other families which agree to come together if things get bad. A good way to get to know folks is church fellowship, volunteering to help with ‘barn raisings’ etc. Survival food and gear is great. Camaraderie is priceless.

      • Galaxy 500

        Sounds wonderful. People of faith and like mind. Power

  10. allen ols

    GREG HT LETTER CAME OUT today, here is a profound paragraph:

    Thanks to MarceloF in Rio de Janiero, a Hat Trick Letter subscriber. He reports on persistent rumors. He wrote, “I want to mention that there are rumors here in Brazil, that there will be a freeze in the money in the bank accounts. I live in Rio. So I wonder how would this be related to the Global Currency Reset.” Expect a freeze to make large movements impossible in order to prevent exploit the sudden shifts and changes. Conclude easily that there are enough signs to suggest that all is not well in the Western banking world, serious ailments unaddressed. Something big could happen soon. Important changes are coming, very unclear exactly what.

    Thanks also to WesleyS in Sao Paolo, another Hat Trick Letter subscriber. He reports on confirmed word about significant changes coming, highly disruptive to the USDollar currency regime. The following are his words, his points, my edits for flow. The Bank of China (BOC) opened bank offices a few years ago in 2009 here in Sao Paulo. In late April, a conversation of length took place with a investment manager. A room was closed, and a talk took place for an hour. During the conversation the urge came to discuss several important topics, because the BOC officer knew so much. Topics she mentioned without hesitation were the decline of the Dollar and its removal as a global reserve, the new gold-backed currencies from Russia and China, the Yuan Swap Facility usage. To my amazement, she confirmed everything to me. She is expecting actions as soon as this July, when the BRICS Development Bank officially begins its operations. Furthermore, she mentioned that many Brazilian investors with liquid investments in the United States are coming to her office in the last few months asking for assistance. They wish to move completely their assets from US to Asian markets as soon as possible. They anticipate negative factors to hit the USDollar soon with a big impact. The Bank of China and its investment office help them to transfer and invest in Hong Kong markets, the most desired location to place funds. Challenges exist regarding investment in China for Westerners. She opened up in several ways, just from my initially stated worries about the US markets.

    • Lucho

      As someone that lives in Brazil- albeit in Rio de Janeiro, and not São Paulo- I can state clearly that there will be no freezing of accounts here. A “confisco” (confiscation, or freezing of accounts) was done under then-president Collor; he was impeached soon after. Attempting a confisco now is worse than political suicide, it is equal to calling an Alabama redneck a yankee to his face. You will not leave the situation without permanent scars. As much as I frequently rail against the brazilian tendency to mindlessly follow the local MSM, even they have limits. Somewhere along the line, we americans have lost that.

      About the rest… Just because Brazil doesn’t appear in he financial media much, don’t think for a second that Brazilians were born yesterday. Their finance minister, Guido Mantega, has the greatest poker face of this generation…

    • Galaxy 500

      Brazil is more corrupt and has a bigger financial mess than we do. They can not even construct a few stadiums for the world cup and as far as the summer Olympics, the sailing venue is an open sewer.

  11. mushroom

    This is a richly meaningful interview ranking among the best. John Williams has an absolute genius for crystallizing complex material into a simple presentation.

  12. Rory Christensen

    What’s Phenomenal about the inflation is this is not only an American problem but a global problem because the US Dollar is the Global Reserve Currency. In Australia Food prices and rental prices the last 5 months have shot through the roof in the capital cities. The food prices on current trajectories have across the board increased on average 30% in Melbourne alone.

  13. Puddin

    Williams may be right, like a stop clock. But not now. Not when the rest of the world looks worse than the US.

    • Ugly

      Don’t forget the axiom of ‘the bigger they are the harder they fall’….don’t forget that.

      Let me illustrate. Let’s say there was a big business owner that had 5 key employees. The owner made tons of money and spent it on himself many times. The 5 key employees worked and helped this business grow and went along with the outcome of its time. Then came debt and then more debt. The owner told his 5 key employees that he has to cut wages and benefits to save the business. He did so on his way to a vacation home in Hawaii. Years later, the 5 key employees saw their lifestyle greatly reduced while the owner had his increases all thru his whining.

      The 5 key employees got together in secret and said enough. This big business owner is in debt at our expense. They said, ‘why don’t we leave him and start our own business and compete against him?’ You know, he had all the debt and not us. If we leave we can at least start from scratch, whereas he has to pay his debt or go bankrupt.

      You see. The others are leaving the USA. The USA has the debt of the dollar game. If others leave, what are we going to do about it?

      The bigger they are, the harder they can fall….

    • Galaxy 500

      Not all the rest of your the world is worse. Funny…little Switzerland who limited immigration and actually protects its borders is doing well.

  14. Agent P

    Notice Mr. Williams comments on the dollar echo Mr. Paul Craig Roberts comments from a roughly 6 or 8 month ago interview right here, where he bluntly stated:

    “It’s NOT when bonds are dumped, but when the dollar is dumped…”

    Notice also, how both William’s and Robert’s views are echoed – but even more technically precise, from Rob Kirby’s analysis of same dynamic?

    Notice lastly, that all of the stuff you likely read, post 2008, on various economic blogs/analysts websites, with regard to the so-called ‘bond vigilantes’, and how they would eventually step in to correct the misallocations and false signals created by government money printing (yes, although the Federal Reserve is not ‘technically’ an arm of the Federal Government, they are Most Definitely, an AGENT), have rather conspicuously not shown up to right the wrongs?

    There is a very good reason for that: There are no ‘bond vigilantes’ because the U.S. bond market is an entirely ‘captured’ entity, whose only real concern lies with foreign entities and what they may or may not do as a result of our misguided foreign policy actions – right in their own backyards, and how that might affect $dollar-denominated currency markets… At issue here for the U.S., is not so much that we do not understand what is at stake, but that we have become to Arrogant to see it… All you ever hear is how ‘deep’, how ‘liquid’, and how ‘irreplaceable’ the U.S. $dollar/bond market as dominant worldwide currency, is. What you Don’t hear is how quickly other nation’s can act – and are willing to sacrifice, albeit for a short period of time, towards moving Away from the $USD. Do they relish the risk? No. Will they act if they’re finally ‘Fed’ up with US…? Don’t bet against it.

    Which brings us back quite neatly to the beginning, i.e., the $dollar itself. People had best start paying attention to ‘obscure’ little stories – like the one last week about the USDA sending out RFQ’s for body armor and .40 cal SA rifles. If you do not understand that under-reported stories like this are joined at the hip with potential and likely downstream effects of a ‘crisis’ in the U.S. – a crisis that could very well be precipitated by an immediate ‘shock’ as the result of a country or cascading series of nations deciding to ‘dump’ the $dollar – perhaps not wholesale, all-at-once, but even just a small move in that direction, then you are doing your nature-given ‘early warning systems’ a grave disservice.


    • Winston Churchill

      Being the cleanest shirt in a burning laundry ,matters not at all.

  15. libertarian jerry

    As usual,Greg,a great interview. I’ve been following John Williams for years and he is usually spot on. My take on the situation is that America is bankrupt by design. That is the globalists and elitists want to undermine the American economy while at the same time creating a large dependency class of people who either are employed by or live off government and it’s taxes. This large dependency class can easily be controlled and thus be maneuvered into a major war. As “war is the health of the state,” whats is left of our Constitution and our liberties will be ground under the feet of tyrants. After a disastrous war,probably with a limited amount of nuclear weapons being used, the American people,especially the dependency and political class,and most of the world will be morphed into a one world government controlled by these same megalomaniac globalists. This is how I see things unfolding. We can only hope and pray,for our children’s sake, that I am wrong.

    • Frank

      Bankrupt by design! Yes, exactly! You’ve got it now. Unless you understand this you’re not fully comprehending what’s going on. Even more is the spiritual dimension which is most important.

    • Chip

      not a pretty picture you paint Jerry but in the context of world events i see share your sentiments…

    • Paul from Indiana

      What Libertarian Jerry is describing is modern feudalism. Feudalism does indeed create dependency and control for the reigning class. What is needed to complete the feudal scenario is NO PROPERTY OWNERSHIP in the working, formerly middle, class. You have heard me harp on this before. Please take this possibility into consideration. Best always to all USAWatchdog participants. PM

      • Diane Ryan

        Yes, and Agenda 21 is the tool being use by the globalists to destroy private property rights.

  16. smaulgld

    Wow, the great interviews keep rolling in. John is right QE is not helping the economy, its an ongoing bailout of the banks- I call it bailonomics.

    For the past 30 years the Fed has been riding to the rescue to pump up the paper economy every time it falters.
    Given that the economy needs low interest rates, how will they be maintained if the Fed doesn’t continue to buy tens of billions a month of U.S. Treasuries and mortgage backed securities? Who will buy the bonds that the Fed doesn’t buy, and at what price?
    “Belgium”? !
    China, the largest foreign holder of U.S. Treasuries, has already signaled its intention to stop adding U.S. Treasuries to its reserves.
    What will you do if the market crashes?

  17. Jerry

    I was really reluctant to post this information, because I know as soon as I do I will be labeled as a crackpot. But the source I received this information from, has never been wrong. In fact he has been accurate 100% on all of the information I have received.

    According to this high level source the reset has begun. He is predicting a failed military attempt by NATO in mid June to take down the Russian military in Ukraine (possibly a black swan event) followed by the installment of the Yuan as the new world reserve currency in several eastern markets by mid July beginning in Shanghai . According to this source the Chinese have stepped into the void left by the departure of the Western Banks from the commodities market, as a result of Gold depletion in both the London and New York vaults.

    The pressure is really beginning to take a toll on these Banks Greg. The manipulation techniques that once worked to stall market pressures and the Chinese no longer work. Walla all the dead Bankers . John Williams is correct, its happening right now. July 15th may not be “THE DATE”, but it definitely signifies the beginning of the end of the dollar as world reserve currency. We have moved from paradigm shift, to reset mode for sure.

    I know there are lots of doubting Thomas’s out there, so you do whatever you think is best with this information. I know what I’m going to do. My conscience is clear.

    • Greg Hunter

      You are not a crackpot Jerry. This is some information folks can judge for themselves. Thank you for posting this.

      • Galaxy 500

        Sorry Greg, put me down as a doubting Thomas as I know of no info source that 100% outside of God.

        • Galaxy 500

          And Jerry, by no means am I calling you a crack pot

      • Woodrow

        I will, he is a crackpot.

        He, nor anyone else, still hasn’t provided no proof of The Fed money laundering scheme that Paul Craig Roberts claims to have occurred. Now this poster claims a “high level source” of a reset and military intervention?

        “We are going to be invaded by martians next year”

        That’s according to my high level source – If I’m wrong, I’ll just move my date back. I can play that too.

        What his post does tell me is he has no idea of how our monetary system works. New Reserve Currency? Please tell me who wants that? China? What a joke, Reserve Status means you go full trade deficit and the insinuation is that China becomes the holder of The United States “hot money”? Yea ok. This is the writing of followers of conspiracy theorists and “crackpots” following to0 many whack jobs on the internet.

        Whack jobs that call for the next “collapse” – that never comes, and when their wrong, come up with a new excuse or date. Hate to tell you, but we already had the “crash”, we lost 41% in the DXY in early-mid 2000’s. Now we’re all being made poorer through Fed policy (at least anyone not in the top income echelons), and yes they have been caught doing unscrupulous things, but please provide proof of the current claims, which that’s what they are – claims.

        So again, please come up with not only proof of what you’re claims are – in The Fed’s case a criminal act occurred, and for credibility sake, name these “sources” . If you can’t, then at least display your economic & monetary prowess and answer my questions, I’d love to know how The U.S. and China switch places as you claim they will.

        • Greg Hunter

          First od all I did not say this “U.S. and China switch places as you claim they will.” I and many guest have repeatedly said the world is moving away from the USD. Second, there is plenty of evidence that China is gaining on the U.S. in terms of the size of it’s economy. Widely reported predictions is China may overtake the U.S. as the world’s biggest economy. Here is one of many sources (CNBC) that claim this: Lastly, Dr. Paul Craig Roberts continues to lay out his case with the Fed and Belgium buying enormous amounts of U.S. Treasury bonds. This is a fresh article out today by Dr. Roberts: . I don’t have the power to charge and prosecute people and the Justice Department has not indicted a single top banker for widely reported enormous frauds. I sense a lot of anger in your comment. If you want to be this critical, then please use a real and verifiable name. I don’t post anonymously, either does Paul Craig Roberts. Why should you? Please respond with a real verifiable name, so we know you are not some paid troll.

          • Woodrow

            Apologies, wrong reply, I was attempting to reply to Jerry.

            No, not paid anything, I just think for any of us to gain traction and credibility, we can’t make unfounded accusations or speculations without proof. Otherwise, you, me and others just get thrown into the conspiracy loony bin (even if there is some truth) and discredited.

            Nope, no real name on this venue, I do in fact use my real name in my home state an locally. If you want to send me an email, I’ll be sure to privately verify that I have been at this issue for years. We may not agree on everything, but I think we eventually get to the same place in some form or another.


        • emeniag

          Wood, your forgetting the golden rule, he who owns the gold, {physical}, rules. Just ask the Ukrainians, or Alan Greenspam.

        • Jerry

          “The stupidity is strong with this one”. Like I said do whatever you like with this information. If you think I’m making it up, ignore it. But please enlighten me as to what government report you consider credible? Its people like you that thought people were crazy when they mentioned government surveillance 20 years ago. Until we discovered the NSA with Snowden. Yep. The government wouldn’t ever lie about anything would they?

        • Jerry

          This is for you.

          I realize it doesn’t have a government stamp of approval on it like you would want, but it is an independent source that verifies that the east is pushing away from the dollar.
          Which one would you are you betting on, Gold or Janet Yellen’s printing press? I’d like to know.

          • Woodrow

            You do realize in the big picture, Russia is insignificant on a global economic scale right? If this were a deal between China and Japan, then it might raise some eyebrows. China and Japan would also have to stop buying U.S. Treasuries and dump what they own at the same time to precipitate any monetary shock to The U.S. This would screw them as much as us, and you might want to check on who the biggest holder of gold is – it isn’t China, not by a mile.

          • Galaxy 500

            you wrote,”Russia is insignificant on a global economic scale right”
            If you believe this I am unsure if you can be saved. They have a larger manufacturing base than we do, they are a major oil and gas exporter and they have a large educated population. What do you call a significant economy?

        • Colin - 'the farmer from NZ'

          Dude – I’m going in to bat for Jerry here.
          Fact…… Belgium’s population 11 million
          Fact……. Belgium’s 2012 GDP 483 billion USD
          Fact???? Belgium suddenly since Aug 2013 ‘purchased’ $215 billion in US treasuries. This equates to a bit less than half the countries GDP.
          FACT…..Belgium by March 2014 total holdings of US treasuries totaled more than $380 billion.
          Go figure.

          FACT… The FED is owned by a private banking cartel.
          FACT…Fed chairman Yellen recently made it clear that the Fed would never allow a Govt audit to take place. She also added that she found it hard to believe that Congress didn’t fully trust the Fed. LOL What is this women on!
          This last comments rivals Bernanke’s statement in 2005 for flat-out gobsmacking delusional ignorance –
          ” we have never had a decline in house prices on a nationwide basis”
          or the all-time classic –
          ” 2008 – ” the risk that the economy has entered a substantial downturn appears to have diminished”

          Re your take on US reserve currency status.
          You probably agreed with Yellen when she publicly stated that the $US would always be the worlds reserve currency.
          Maybe you two should get a room together.
          More than likely the bankers of the below countries also held similar views in their hay day.
          1400s Portugal/ followed by Spain/Netherlands/France/Britain/US/…
          The US$ is rapidly loosing its reserve status – just look at the facts.
          Year 2000 one half of world trade was denominated in US$. 2012 this figure was down to I think 33%. 2012 on and it is in absolute free fall. You would have to live in a cave not to accept this.

          Your comments on China and reserve currencies redefine the word ‘bazaar’.
          I don’t believe China desires reserve currency status – they are simply not that dumb. If you want to find out about why a country shouldn’t yearn for reserve currency status research the “Triffin Dilemma” . They simply want to make their Yuan more attractive and for it to be backed by gold. They would then be included in a new type of global reserve currency known as Special Drawing Rate SDR.


          • emeniag

            Spot on Col! For a Kiwi, your not all that bad. Your one bad arse, dude!

          • Galaxy 500

            Dude! Well said

    • allen ols


    • Beligerant

      @Jerry: Time for a Bank Holiday? Here’s the proof starring a couple very recognizable faces in politics for a total of 2 minutes and 26 seconds. Now put 2+2 together and it helps to paint a picture why Corzine defaulted on a bunch of gold / silver contracts. Remember when all of those Billion$ of dollars mysteriously vanished from Corzine’s customers accounts? We could argue they already had a mini-Bank Holiday except it was exclusively for the slaughter of precious metals in order to stave off a real Bank Holiday.

      • Galaxy 500

        What broke Jon was his interest rate swaps not his god and silver positions…JP Morgan took his PM positions

    • smaulgld

      ” the Yuan as the new world reserve currency in several eastern markets by mid July beginning in Shanghai ”

      Perhaps the Yuan won’t become the new world reserve currency but a regional reserve currency.
      The Balkanization of currencies is enough to damage the dollar; there probably doesn’t need to be a full scale replacement of the dollar as the world’s reserve currency to lower the demand for the dollar to the point where the value of the green back drops 30% and causes price inflation in the U.S. as cost of imports soar.
      Thanks Jerry

    • Ugly

      In any time of past history where the USD index was below 90 for any length of time, we fell into a recession and later we recovered. The time periods where the USD was below 90 usually lasted less than 12 months during those recessions, or economic slowdowns. Today, we have had an USD Index averaging under 90 for about 7 years now. The signs of the dollar demise is there alone. Here are my two indicators that reset is here.

      1. The USD has been above 90 only a few times since 2006–8 long years.
      2. Banks are paying virtually zero interest on savings and CDs.

      What does the two above tell you about the dollar and it’s future?

    • Frank

      Petroruble, petroyuan, and petrogold are on the way and actually petrogold is already here. Germany’s made their deal with the Russians. As long as they can avoid being attacked by Russia in this coming WW3 (Ezekiel 38-39 war that sets up the anti-christ), you will see a gold-backed Nordic Euro as well.

    • bob

      even if your timing is off, agree, do i want this,no. do pray!

    • armando

      I subscribe to almost everything relevant (both Pay & Free). I dont know who your souce may be, but what you´re saying goes well with what I´m getting and have been able to piece together. I continue hoping ¨The System¨ will keep from imploding until late 2015, but more and more I believe this is too optomistic. While I consider myself adequately prepared for the ever nearer global reset, I continue to take actions (physical PM´s, relocation/residence overseas, etc…) which will provide my family with the best posibility to ¨survive and thrive¨ in an uncertain future. However, unlike many, I for one hope the banksters and our sold-out governments find a way to prolong this inevitable end for as long as possible. Many people dont realize that when this finally blows up, countless people will suffer and even die – even those of us that have prepared and are lucky enough to be in the right place will be impacted greatly. Instead of wishing for an accelerated colapse, I suggest people continue to prepare while enjoying the many things modern life has to offer. One day the world as we know it will be no more and much of what we take for granted today will not be available at any price. Greg, another fine interview – thank you so much for what you do my friend.

      • Ugly

        I agree. I hope it keeps proceeding slowly. When those days get here, we will have wished for these days back. All you can do is live today and prepare for tomorrow. I don’t see how we can sustain this environment when madness is about to hit….

    • Paul from Indiana

      Jerry, old “crackpots” such as you and I will be making our stand together at the new Alamo, coming to a place near you and me. What the Left and the so-called NWO don’t understand is that some of us actually BELIEVE the stuff about freedom and liberty that we were raised on. As James Russell Lowell wrote in his poem “Once to Every Man and Nation”: then it is the brave man chooses, while the coward stands aside. Best always to you and yours. PM

  18. ck

    John Williams is a truth-teller among a cabal of liars. Thank you for your courageous message, sir.
    Greg, may I suggest another courageous truth-teller that should be a guest on your show . . . JEFF NIELSON, from His latest commentary on the virtues of deflation is an eye-opener!

  19. Snorky

    I try not to get caught up in the deflation vs. inflation debate. To me, it is kind of like a religion/emotional attachment with some bloggers. Regardless, the price of food here in southern California has risen considerably recently (especially ‘organic’, which I try to buy whenever possible). Some of it is due to drought (i.e., not inflation — aka hyper-printed money). However, if you combine a drought, police actions/wars, and social programs, that is a sure-fired recipe for much higher prices across the board IMO. And if their is a simultaneous loss of confidence in the currency, then BOOM — there’s your hyperinflation. Best to be prepared. Keep stacking. Thnx for another great interview, Greg.

  20. bigo

    becoming inured. We been on the brink of the dollar for years now. Maybe they constructing a ladder and dive board at the brink? You never know, they might have a while yet for construction.

  21. Larry

    Greg, John is the perfect guest at this time. He is so clear and direct their is no misinterpretation of what he means to say. The days of making choices to save your wealth are drawing to a close. I am sure most of the people on your site have had a similar
    experience to me. Friday nite we had dinner with very good friends of mine who we had not seen for 6 months. I knew he was not hot for gold sold I normally don’t bring the subject up. He went a little further in his discussion than he would want to and explained that he was aware that the world is going to crash but he can’t face the reality and only can deal with positive info. What could I say? Not much if I wanted to keep him as a friend. I have only been able to talk openly with one friend locally and my two sons. What a world to try and navigate.

    • Greg Hunter

      Just because your friend is on the train tracks and he wants to ignore the oncoming train doesn’t mean he and his family will not be flattened. Some people you just can’t help. Stay away from him and continue putting you and your family in the best position possible.

  22. Frank

    …”The Fed is going to have to come in and prop up the system until it falls apart.”

    Should read:

    The Fed is completing its end game destruction of the USA by “propping up the system” until it falls apart.

  23. bob

    this man is great! he always tells it the way it is. i don’t care if he is democratic, republican or as curly says “i’m a pedestrian”. ( a scene in the 3 stooges.) maybe you should look this scene up. john’s background stands!
    i like how the people you interview are now talking not only gold and silver, but actually any tangible item..aka daily needs or food., something that can be used in the future that you can barter, trade with someone else. greg, this is another great interview. if people don’t see the writing on the wall from your interviews, you have gone far beyond to help us get it, then there is nothing else to tell them. all we can do is pray for those people.

  24. Jeff

    Jerry says……..'”I know what I’m going to do”….. So tell me, what are we going to do. I’ve known about this for yrs and tried to prepare. But the questions keep coming…… When your supply ends then what? When you’ve exhausted your fuel storage ? When you can’t sell your metal because it’s illegal? When your every move is watched ? When a band of zombie’s or your neighbor discover you stash ? When they find your garden? When your close, trusted group get desperate to take care of THEIR family will your planned arrangement survive ? When society collapses ? ………just a few things I think about while trying to prepare……… not really that neg considering the circumstances……… and after all my considerations I am reminded this is all about the separation of the grain from the chaff. We are being forced to make a decision. A spiritual fight between good and evil.

    • Jerry

      Preparation is more than storing rice and beans. It requires you to be the best you can be:
      – spiritually
      – physically
      – mentally
      I know I have a lot to improve on, that’s what I meant by my statement. All I have to offer to my friends and family when the time comes, is my belief that this is a temporary setback, and that we will all get through it, and make it to a better day. And we will. But it requires you to make a stand as well for what you truly believe in. When everything is said and done it will come down to that.

  25. Michael

    The end result of the sudden death of the dollar might be summed up in Revelations Chapter 18 ~ The Fall of Babylon which very well could be New York City, just a thought

    • Rick Shade

      The fall of Babylon is the end of false religion…when the governments of the world.. (New World Order) get tired of her whorish practices, and destroy her over night. (good web site if you want simple Bible truth)

  26. Vato Del Sur

    Thanks Greg. I really appreciate your interviews. Síguele compadre.

    • Greg Hunter

      Thank you for your support!

  27. Miggy

    The inflation we see is because of money printing. The hyperinflation is because faith is lost in the dollar and everyone is trying to get their hands on anything but. Money printing/heated economy inflation is different than hyperinflation.

    Putin goes to Russia to discuss a mega energy deal this week. If they finally get this done they may announce the deal will be done outside of the dollar. This may start something.

    Gold is a wild card. Be well, John, and God Bless.

  28. Matt

    Greg, Putin goes to China. I said Russia. Please correct. Thanks.

  29. Mouse Click

    I had a thought, if the U.S. is expecting a tsunami of Dollars, the money could be used to send the DJIA higher levels. Or to clear the system, a large scale war could take place in Europe or the Middle East – target rich environments are good for the military industrial complex. If inflation was to take off overnight, there will be social unrest.

  30. JC. Davis

    Greg, I always love to hear what John Williams has to say. A thought of oxymoron came to mind. ( Slow motion hyperinflation. ) A drip ignored fills the tub eventually. Thanks for all you do.

  31. smaulgld

    Was thinking about John’s comment that the dollar will go to zero. While the dollar is being printed and debased, there are not other currencies that stand in stark contrast as alternatives. As such too much of the world either relies on or has reserves in US dollars so it collapsing to zero in one event is extremely unlikely with the amount of central bank coordination we now have with vested interests in keeping some value in the dollar.

    More likely is a devaluation of the dollar of 10-40%- just like has happened with many other currencies.

    Even a phasing out of the dollar is possible, but to wake up one morning and find the dollar is worth zero doesn’t make sense since countless obligations in the United States (taxes, mortgages, work contracts etc) and around the world are in dollars (oil contracts, foreign obligations owed to the US etc) and will require dollars to be paid which keeps some demand for the dollar and puts some type of a floor on how low the dollar can drop.

  32. George Silver

    Dear Greg
    You do love to confuse your listeners.
    First we have the “expert” Martin Armstrong who says ‘the only game in town is the US Dollar’ and he has the ‘stats’ to back this up.
    Next you have the “expert” John Williams who says ‘quick get out of the Dollar it’s about to collapse’ and he has the ‘stats’ to back this up.

    Who is right Greg? Or are both of the wrong?

    • Greg Hunter

      George Silver,
      What is coming to the world has never happened in human history. I am trying to put out as many views a possible to help navigate this.

    • smaulgld

      Greg is not confusing his listeners, he is providing in depth interviews with some of the most informed people regarding the current state of the economy and where it might be headed. The program is not all about what Greg’s point of view is- you can get that on Friday in the weekend wrap up.

      The show to my mind is intended , not to confuse, but to inform by providing a diverse group of guests. For example, Jim Willie, a frequent USAWD guest disagrees with John Williams on his prognostications, but respects his data gathering. If you sift through the prior interviews you can find many instances of conflicting points of view among the guests and the people who post here.

      I disagree with both Messrs. Armstrong and Williams on the direction of the dollar but my thinking was sharpened, not confused, by listening to both points of view. I am grateful that Greg is providing us with a series of intelligent interviews with a diverse group of interviewees and a forum where we can comment and read the reactions of what the many intelligent posters here have heard.

  33. Tommy

    I don’t believe that Russia and China are going to bring down the dollar. No one is going to survive a U.S. collapse. Also, the U.S isn’t going to let something like that happen without starting a world war. I don’t know what is eventually going to happen, but I do know it’s not going to be good.

    • George Silver

      Dear Greg
      Now you have left the comfort and anonymity of the big corporations you have a duty to have an opinion.
      You deserve, as a thinking man, to have an opinion. Let’s hear it.
      You don’t have to worry about big advertisers anymore.
      You just can’t sit on the fence being a loudspeaker for whoever comes on your show.

      • Greg Hunter

        My “duty” is to be fair and objective. I am first and foremost a journalist.

    • wd


      What do you think Ukraine is all about?

      1> The formation of BRICS
      2> A different world reserve currency
      3> EU will reject dollar and adopt new currency
      4> BRICS is backed by gold, commodities, manufacturing and sound econ fundamentals
      5> BRICS also represent countries on the verge of billions exploding into the middle class.
      6> US renedered impotent for 30 years or more.
      7>BRICS WILL SURVIVE collapse or go through it much easier.

      • Jerry

        You represent true American hubris. Evidently you missed the paradigm shift that has been going on globally the past few months.
        In essence the other world economies were faced with a choice. Either be pulled under with our economic debt, or break free and form their own markets. They chose the latter. China has 2.5 Billion people. Do you not think they have a built in market?

    • smaulgld

      I agree. China holds about a trillion in $ reserves and has plenty to lose by openly lobbying and acting against the dollar. They may only move against the dollar if they are sure they can offset their dollar losses with gains in their own gold held reserves, increase in Yuan value and prestige that would lead to taking over the leadership of the world economy. That is a tall order and strategically China/Russia will move incrementally not rashly.

    • Ugly

      What will happen in USA is confiscation, reverse ownership, and slavery. We will be owned and told what to do. 1% bosses that became rich through the Ponzi scheme of printings, and the other 99% peasants that went along and became slaves. The 1% will drop the dollar when all their wealth is transferred to another source leaving the 99% with the dollar debt. Thus we owe, and the only way to pay is thru transfer of ownership. Yes, civil unrest will probably happen, but it will be the 99% fighting each other instead of going after the 1%….(these are just my opinions).

  34. woody188

    It’s interesting how quickly people will discount the United States market. Yes, the US market is in decline. It is so much larger than other markets, even a big fall would still leave the US as a top player in the global economy. And just where does Asia and the BRIC’s expect to sell their goods should the US falter?

    They will be hurt even more by a decline in the US than those in the US. We’re talking wide spread unemployment and starvation, which will lead to turmoil and general chaos across all the developing nations. I sure wouldn’t want to have my investments in developing nations should the US crash.

    I’ve often wondered about the denominations noted on the gold and silver bullion US eagles, or the Canadian maple leaves, or the Chinese panda. Each have a dollar or yuan value printed on them. For instance, 1 ounce silver is noted at $1 US dollar, $5 Canadian dollars, and $10 Chinese yuan. Are these possibly indicators of the future value of money from each of these countries?

    I just paid about $20 US Federal Reverse fiat for 1 ounce of silver stamped $1 US dollar. With some like Williams saying silver will go to $50-$200 fiat US dollars per ounce, does that seem about right for a currency reset?

    The Weimar Republic is one of the few instances we have to compare, as they were industrialized and also borrowed for their war efforts. They went from 4.2 Marks per US dollar (we use this because the dollar was backed by gold at that time) to 4,210,500,000,000 Marks per US dollar in just 3 years. When the Reichsmark was installed, it took 1 trillion Marks exchange for 1 Reichsmark, which was valued at 4.2 per US dollar.

    If the USA follows the same curve, should hyperinflation set in this year, we can expect it to be more moderate at the first, with it increasing exponentially over the course of up to 3 years. I believe we won’t go for three years because of the dollar reserve status. The crash of the US dollar will be much more rapid, but also shorter term as many countries have already prepared their own exchanges.

    It’s important to note the USA, Canada, and Mexico also already have an alternate currency formerly referred to as the “Amero.” This was leaked almost a decade ago by Steve Previs of Jefferies International but has been denied and discredited ever since. Whatever they want to call it, there will be a regional currency revealed as the replacement for the three currencies of these countries and it will be touted as necessary because all trust in the Federal Reserve will have been forever destroyed. They will not be allowed to create a new fiat currency without the US largest trading partners having a say in how many are printed. And this was always the desired outcome to lower US standards and prestige and integrate the US as just another client state to a global government.

    • Tommy

      If you think the US will totally collapse and the rest of the world will go on and thrive, good luck with that.

    • Winston Churchill

      ‘When it gets serious you have to lie”.
      I doubt China has anywhere near that amount of UST’s.
      They might be in their name, but really ?
      That would be exceedingly stupid after 2008, and the Chinese are not stupid.
      The PBoC was made a primary dealer to hide their real holdings, not to
      facilitate further purchases.
      Just put yourself in their position, and think what you would do……

  35. DUPONT

    I like very much what Mr William is doing but I think there his forecasts are wrong.

    The dollar will not go to zero and not in the not so distant future because of international flow of funds from westerners which will come back to USA from the BRICS.

    Anyway, with the dedollarization is speeding up I think the dollar will finally lose something as 30/50% with other major currencies (and maybe more with gold but on the very long term).

  36. art barnes

    Greg, the dollar may go to zero and become worthless but not before the U.S. Military’s bullets fire. What I’m saying is this country will not now accept anything but top dog status and will take us to war to correct the run on the dollar, or at least destabilize the other countries currencies at the same time. The geo-political climate of Washington, the military industrial complex, most of the American people, & the elite will not accept a depression of Mr. Williams magnitude without using its military power to go down fighting, just watch and see. That is why I believe Mr. Williams is wrong on an out all “run”; in order to avoid war China & Russia must go slow & easy till this Nation accepts the change of world power status which is another generation or so; and, that is just exactly what China & Russia are doing. The new generation is becoming ever so world minded and not nation minded (nationalistic), you can see it in the culture if only you are willing to look. Unless Putin or whoever gets reckless I think its just a very slow slog to a third world status and acceptance of a lower ring on the latter in geo-political terms for the U.S. Otherwise, its all out cat out of the bag war and its “helter-skelter” aftermath.

  37. Roderick

    I have been telling people within hearing distance the truths of what people like John Williams have been stating for a very long time now.

    Those that know me well wonder about the events unfolding because this has been forestalled so long and the system seems to stay afloat. Of course that is only because of the plunge protection team, the endless money printing, QE, etc. Those I do not know shock me with the denial they have when I try to warn them about a economic meltdown on our doorstep. One lady I talked to today tells me how the economy is actually improving!

    Oh how badly I feel for these deniers who drink the kool aid. Their world is soon to be turned upside down.

    Like Mr. Williams say’s.. knowing what is soon to be can be useful to prepare for the hardship. It is much better to sit on a high rock to view the landscape than have ones head in the sand as the ostrich does. That big bird with his head in the sand is easy prey to the lion.

    • Diane Ryan

      Roderick, I agree. I often wonder if the deniers have been literally ‘turned off’ by a higher power; their eyes do not see, their ear do not hear. If the hand of God ever molded the founding of a nation, surely it was America. But we as a nation have abandoned Him. Surely He is not pleased.

  38. Jim

    My local school system, in northern Indiana, was able to pass a referendum in the last primary May 6th (people voted themselves a tax increase). 40 cents per $100 of accessed valuation. A small group did this (mostly school connected) while fixed income folk and some others apathetically sat on their behinds. Big money to farms and businesses already paying a lot. Farms nearly gone in this township now. The county has their hand out for a local option income tax to address economic shortfall. We’re having a tax expert from the Farm Bureau hierarchy in Indianapolis addressing a meeting next week where we have invited government officials to see the basic 3 ways this can be done.
    The noose continues to tighten. I could go on a long time about how our prosperous community got to this condition. When will public servants figure out they need to slow down pumping on the money well before real catastrophe becomes evident? Symptoms of the problem John describes are rearing their head here. It astounds me how many people are clueless about the situation on our doorstep. Let alone how we got here. Not as big a problem for your viewership to understand Greg. Thank you.
    P.S. Our food banks are having trouble keeping up here now with what has been relatively good times here the last couple years.

    • Paul from Indiana

      Jim, I live in Scott County (72). Folks over in Jefferson Co. (Madison Consolidated School Corp.) voted overwhelmingly this election against a supplemental school-tax initiative. About ten years ago, people in Scott Co. voted in a remonstrance, forcing the school board to cancel plans for new buildings. People here have had enough. It’s time for government to scale back its presence, as opposed to just constantly seeking new revenue. Come south and ditch the Rust Belt! Best always. PM

  39. Robert B

    It is not a coincidence that interest rates are unusually low at just the time when the baby boomer generation is beginning to retire. It’s intentional and consistent with the purposeful destruction of our country. Most people cannot be convinced of this. But if you consider this carefully, you will see it.

    • Jim

      Ya know my dad and i worked like slaves a long time to get things clear. Now the buck stops with me since dad is 97 but still on the farm with us. My third biggest expense , with about 75 head of dairy cattle of various ages on the place, is property tax. I thought we owned the 2 farms but right at a 1000 a month for prop tax and another 500 for insurance I think I need makes me wonder if we own the property . All part of a grand plan I suppose.
      This drivel about saving the small farms keeping some of the food production from being concentrated into fewer big farms is BS. If the consumers want the production to be more diverse, relative to production unit size, the regulatory and taxing authorities need to back way off. One thing for sure. I won’t be the one selling my soul for a few groceries in the future. If you’re an urbanite or city dweller I would find a farmer and try to make him a good friend with what John says is coming.

  40. Barry Munro

    Martin Armstrong says there will never be hyperinflation in the US because there has never been hyperinflation in a reserve currency in history! John Williams says otherwise. Which respected economist are we mere mortals to believe. Can you Greg, or someone, not get these two economists together to hash out their differences and come to a common thesis so we can act on a singular concept going forward. It really is a disservice to investors to have respected economists with such disparate views of the world giving advice on matters of such critical importance. Isn’t anyone else as frustrated as I am about these inconsistencies?

    • emeniag

      Greg, Barry has a great Idea. remember Hollywood Squares? Paul Lynd was great on there, as were all the celeb’s. hosted by Peter Marshall, if I remember correctly. Maybe you can have one once a month, which would give you time to get commitments ect..You could get all the guest’s back from the month and grill them with questions from the WatchDogs, add some of your wonderful sarcastic humor and it’ll go viral each and every month and picked up by the networks! I’d bet my bottom dollar on it!

      • emeniag

        You can call it Watchdog Squares, I’m sure it could be done technically and nobody has to leave their homes or were ever they are, the beach or cornfield!!!!
        P.S. Greg you don’t have to leave these up, I just wanted to encourage you on the new Hollywood Squares, i think Hollywood would take notice and love it!

  41. Galaxy 500

    Thanks for having Williams back on. Refreshing to see his fact based analysis.

  42. Galaxy 500

    Why does Eric Holder believe that equality can come from oppression of another group? Is it because that its OK to discriminate against whites?
    excerpt: Attorney General Eric Holder took a swipe Saturday at Chief Justice John Roberts’s jurisprudence on the issue of race, arguing that forcing the government to be entirely color-blind isn’t the way to heal America’s racial ills General Eric Holder, who has suggested that critics of the Obama administration are motivated by race and referred to America as a “nation of cowards” on race issues while blasting Americans who resist more gun control laws, suggested that those opposed to President Barack Obama’s policy agenda of “fundamental transformation” are quietly prejudiced.

  43. A. Hall

    Greg: As I have told you- All that John W. says is true AND it is all planned by the New World Order gang. This is all planned years-decades ahead!! They want JQ public in debt up to their eyeballs. And it is now happening!!


  44. Perri Gorrara

    John Williams makes a great deal of sense in his measured, logical and thoughtful article on the state of the American economy and the US dollar.

  45. John M.

    Most of the American sheeple have not really recognized that we have been in a protracted structural economic depression for a long time, nor do they understand that monetary inflation (printing money) causes price inflation. We are at the beginning stages of a hyperinflationary depression that will probably be the worst strain the world has ever witnessed. Most of the pain associated with this occurrence will probably be reserved for the United States.
    It’s imperative to understand that this is all happening for a reason: to bring about a new world order and to destroy America which is the primary force that can prevent this from happening. The death of the dollar and the end of our freedoms has been engineered by the tyrannical forces within our own country— traitors every one of those SOB’s. It’s disingenuous that the uninformed will be swayed into blaming China, Russia, and all them nasty “terrorists” for America’s decline and problems, when America has been destroyed from within.
    Sorry to be so glum, but I see no reasonable possibility that things will change for the better especially as war and other violent distractions seem to be close on the horizon.

  46. Matt

    Greg, thanks for the interview. I appreciate your work, and the ability & time it takes to do this.
    For the last 3 years, at least, and possibly going back to 2008, Mr. Williams has been making a yearly call that HYPERINFLATION will hit on such & such year. He’s been wrong the whole time. I have no doubts that we will see some type of event, possibly HYPERINFLATION, possibly massive DEFLATION. I believe that the FED is running blind, as you probably do…….Here is my issue, and it’s an issue I have with most alternative media programs/shows:
    *If John Williams has been making a call for HYPERINFLATION for the last 3-5 years, every year, and it hasn’t happened, Why do you not ask him to explain the missed “call” each year, and why it went wrong?

    It amazes me that interviewers, like yourself (but you are not alone), don’t hold these “guests” and their “calls”, accountable. It would bring so much more credibility to you, the show, and also the guest.
    The MSM overlooks a tremendous amount of information, missed “calls”, etc. I see this being the same (on a very small scale), on a different side of the spectrum.

    I look forward to your future shows.

  47. David E

    I wish you would have asked Mr.Williams about his failed predictions for hyperinflation which he stated would occur no later than 2010, then 2011 and by 2014. His credibility is diminished because of them.

    • Winston Churchill

      Go read his long reports over at I have been for years.
      Williams has been totally consistent about his arrival year for hyperinflation, actually
      bringing it forward from the projected 2020 as Govt. policies hastened its arrival.
      You neither read ,nor listened too what he really said.

  48. brian

    The best advice to give in regard to preparing for the collapse of society is to do everything one can NOW to affect the course of events and seek to head off the collapse by restoring the rule of law and to uphold the ideals enshrined in this nations constitution. Once the society collapses there is nothing that can be done other than to resign oneself to the fact that they are going to have to confront a very very uncertain future fraught with hardship, misery and regret.

  49. Calgirl

    What exactly should we be celebrating on July 4th?

    US Marine General Smedley Butler had the same problem. He said that his Marines gave their lives for United Fruit Company’s control of Central America. “War is a racket,” said General Butler, pointing out that US participation in World War I produced 21,000 new American millionaires and billionaires.

    “The United States launched 201 overseas military operations between the end of World War II and 2001, and since then, others, including Afghanistan and Iraq.”

    Not a single one of these wars and military operations had anything whatsoever to do with defending the US population from foreign threats.

    • wd


      I just read that, OUTSTANDING…what an angle; pre- WW2 , He attained the highest rank a general could recieve at that time. I never saw the war bonds angle…AMAZING.
      The “trickle-down effect” from airplanes to mosquito nets (both of which never used).

      And young innocent lives pay the price for corporate greed!!!

  50. Charleston Voice

    How Fractional Reserves and Inflation Cause Economic Inequality

  51. Chip

    Another great interview Greg. i would like to know/understand the composition of the $6 trillion annual deficit that John says is the “true” deficit. i think he’s including SS and other unfunded liabilities? Thanks for this site…

  52. Robert

    I talked with my bank’s manager yesterday. She offered me a FREE savings account! (HUH?)

    • JC. Davis

      Robert, first Tennessee in Nashville gave me 100 bucks to set up a direct deposit.
      3rd time in 4 years. I will change it out in a few months and wait for my next offer.

  53. Jerry

    The writing is on the wall for the dollar, if you know how to read it.
    Follow the money.

  54. Outlooks gin

    Inflation? According to “official” stats it’s under 2 percent. To anyone with half a mind this inflation level is nothing more than a load of bull excrement! Case in point; While working in the garden yesterday my weed wacker ran out of cutting line. Did not have any more on hand, just the empty container. Took that with me so to buy the same stuff. Compared price points on the two containers; Last year at $3.49 this year at $4.99! For exactly the same stuff! A 43 percent rise in the price in just one year! And yes, I bought the new roll of cutting line (same length) at the same hardware store. When I mentioned the higher cost to the store co-owner, he said their suppliers are handing down higher prices and that they are obliged to pass them on to their customers. Inflation? You be the judge.

    • art barnes

      Ya, got it, and ask any employee at the hardware store if they got a raise in the last year, I’ll bet not! Prices of goods are rising, wages are stagnate. This will continue onward until the middle class is the new working poor class; I suspect its the unintentional consequences of taking care of the elite, bankers, etc. and not main street, after all, if new money can’t be created by increased demand for products and services, then it can be made by taking from those who have some of it (the middle class) and give it to the upper echelon class. Frankly, its working, the questions is for how long?

  55. Tim

    With all due respect to Mr. Williams, who may be correct. If you trade forex or any type of commodity, you’ll know what I’m talking about. According to the Commitment of Traders Report, “smart money” is NOT betting on a dollar collapse anytime soon. In fact, smart money has been quietly and steadily accumulating dollars for many months now.
    If a dollar collapse was imminent, smart money would be treating dollars like nuclear waste, and selling on rallies. Study the red colored “commercials” line for yourself if you don’t believe me. The broader market almost always follows the lead of the commercials, who actually “take delivery” of a currency or commodity, like sugar, orange juice or USD’s. Taking delivery is the Key to large price movements. Not speculation.
    Here’s the chart all professional traders use. I suggest you learn how to read it…. Just sayin folks!

  56. Jeff

    Michael says… ” The Fall of Babylon which very well could be New York City, just a thought “……. I used to believe we were special and most of the Revelation stuff would stay across the pond…….But then I realized how we have been destroying lives and countries thru wars and financial corruption. Now when I go back to Revelations with a different mindset, it seems we are the great evil and will get our just deserves…… I wouldn’t be surprised to see Nobama suffer a mortal wound and then come back. With todays phony false flags produced on scripted scenes it would be easy. It would create more racial hate and give him reason for martial law (and no elections, guns, ect). He certainly has the ego for it……… Sorry to get off topic, Greg.

    • Agent P

      The issue is Tim, ‘smart traders’ can be and often are, Wrong… The fact is the United States economy in its current state, cannot tolerate a ‘strong dollar’, as perverse as that sounds. Secondly, I have ‘stack of stuff’ (cut & pasted archives) of articles over the past (2) years by a gaggle of respected economists, analysts, bloggers, etc., all either suggesting or outright prognosticating, a $USD bull, with some projecting .90+ or higher on the $DX. Sorry fella’s, that ain’t happening… And it’s not by accident. Foreign policy and arrogance has sealed our fate Tim, and it is the lack of understanding foreign policy along with the interconnected nature of global economies AND foreign policy that leads to situations that the U.S. currently finds itself in. The global shift away from the $USD is already in motion and Nothing is going to stop it, nor the descent of the United States into a lesser role on the global stage and near 3rd-world domestic standards of living for a large swath of the population here. Sad, but true…

  57. Jeff

    Tim, there’s always someone on the other side of the trade…..If they are accumulating dollars then the dollars have to be coming from somewhere…… 2 guesses……. Besides, everything today is manipulated and the Fed is controlling the actions of the big banks……So I’m saying the rest of the world is dumping and the Fed is directing the purchase of said dollars. Just like they are funneling dollars to buy treasuries in Belgium…..Get use to it, as there’s going to be a big pile of dollar paper coming home……… Besides, the smart money’s buying gold, not dollars.

    • Tim


      You are 100% correct. I believe the Fed is doing most of the buying. But, it is a MASSIVE accumulation of $$ by the Fed. This will have a very interesting effect on gold, and inflation.

    • wd


      That “chart ” Tim refers to shows the dollar trending way down…it seems that the example he used proved his argument wrong….

      • Tim

        That’s not how it works. I’ve been trading commodities for 30 years. The big boys are buying dollars all the way down to the bottom. They don’t buy at the top. It probably is the Fed doing most of the buying. When they own it all, the price of dollars will soar, as they dump their gold futures on the market. I would stand aside if I were you, and let the big boys do their thing. Gold will be crushed. Yes, it is a corrupt and rigged game. Traders know this and try to go with the flow, not against it. Just sayin be careful, and learn how to read a COT report.

        • 2015

          That’s not really how it works anymore Tim.

          The world has changed quite a bit since you were trading.

  58. Jeff

    Tim says ….” Taking delivery is the Key to large price movements. Not speculation. ” Try taking delivery of gold, especially silver……’ll get paper dollars or nothing. Another example of the corrupt market. All made possible because the Fed is the printer, enabler, and director of bank manipulations….. The Comex and Forex are as corrupt as all the other markets……..We live in a “Matrix” world where nothing is as it seems. They can make it “look” like the dollar is king (by buying dollars and selling paper gold) but it’s still a worthless piece of crap……Predictions are a dime a dozen (ask Williams) but I still say a 30% drop occurs this yr. Followed by a few more 30% drops…..Those holding dollars (especially treasuries) will be puking their portfolios and like in Argentina asking themselves, “why didn’t I buy gold”……..Well, the rest of the world did. Our citizens just lamely listened to their lying gov.

  59. Mark

    Question for the posters here: if things play out as assumed and the dollar drops by say 30% in value – what will that do the prices of real estate? Will it go down or will it go up? Will people have to apply more money to essentials and less to non-essential items, and will assets that take a long time to sell take a hit ?

  60. David W

    Dear Greg:

    First, I wanted to say thank you for having the courage to tackle some of the most important financial issues facing our country; issues that most reporters have either actively tried to avoid or at the very least, down-played.

    Second, I wanted to pass on to you a few signs of Dollar Flight that have, as of yet, gone unreported in the mainstream media. But first, let me give you a little background about myself and my company in order to place the information I have, into context.

    My name is David W and I am President and Founder of a manufacturing company I set up back in 2006, here in China. We produce components for everything from cooling systems for power-plants to LNG Tanks for buses and trucks, from plastic sports bottles to the rubber gaskets that hold your car’s windshield in place. Suffice to say, we produce a wide variety of specialty products for the Global Community. And what we have noticed recently from our US based Clients is two trends . . . .

    1.) Our US based Clients have recently begun negotiating/implementing changes to the terms of our Purchasing Agreements that will allow them the ability to pay in currencies other than the US Dollar. Usually, the most requested forms of payment are now in either Euros, Rubles, or Dinars.

    2.) Tied to this, we have also noticed that our US based Clients are relocating their payment centers out of the US, usually New York. Instead, we are now being told that we will need to be invoicing our US Clients through their foreign offices, located in such places as Moscow, Singapore or more times than not; Hong Kong.

    The companies involved are household names.

    So if they are starting to diversify their payments away from using US Dollars, we (meaning I and my Chinese partner), can only assume that they know something is coming and that being tied to a US Dollar based transaction could place them at a competitive disadvantage.


    David W.

    • Greg Hunter

      David W,
      Thank you for posting and reporting this important street level information!! Very good sir.

    • Jerry

      Thanks David.
      That’s exactly what I’ve been hearing to. The new exchange system is coming. Most Americans are either in denial, or to stupid to recognize it.

  61. Steven

    Thanks for Having John on!! Seeing Inflation all around went to McDonalds today a Mcdouble used to a 1$ well now its a 1.49$ or 50% inflation if you had 10,000$ in the bank before it would buy you 10,000$ Mcdouble today it only buys you 5000 You just loss over 50% of your money due to Inflation…. Ouch and its just not at Mcds I am starting to see this at the grocery store and virtually every wheres else the dollar is losing its value and its only a matter of time till Hyperinflation comes like a thief in the night and leaves americans Broke as well holding the bag on a bunch of Worthless Paper Fiat Currency WILL COLLAPSE Make no mistake were entering into the early stages its coming be prepared!!!

  62. henry

    OK, I’m out of debt. I have 2+ months of food that I cycle through. I have significant amount physical gold and silver coin. I still have significant amount in US banks in dollars. I have an IRA and 401k that I don’t feel confident that will maintain their value. I don’t know what to do with my dollars in US banks. Will the banks go under? I could by real estate but if interest rates go up then property values will crash and in hard times renters will not be able to pay the rent. I can’t figure what, if any, US stocks are safe. Are their foreign mutual funds that are denominated in something other than dollars? If the US goes down won’t stocks around the world go down too? Any suggestions?

    • Greg Hunter

      Keep doing what you are doing and stay physical for everything.

    • emeniag

      oh henry, When all else fails consult the manual, {the Bible}. Life is fragile, handle with prayer!

    • Galaxy 500

      And dont share what you are doing and what you have on hand with anyone

  63. Jeff

    Love the real world examples from David W…….. Tim says…” When they own it all, the price of dollars will soar, as they dump their gold futures on the market “……… when they own it all the price will rise ????? They will own it all because nobody wants them. German marks, argentine pesos……. They had plenty and no one was begging for their currency…….. They already dump paper gold and the rest of the world is moving east to do their transactions in REAL physical gold. Not the corrupt Comex delusion……Who know where they try to drop the price. But it will be a last desperate attempt that will fail……We need to get over the idea that we still rule the world. We’re sitting here playing monopoly while the rest of the world decided they don’t want to play with cheaters any more. They have already left the room. We will be fondling our worthless monopoly pieces (like children) while the rest of the world holds all the real wealth…….The rest of the world is sick and tired of the US. You can have your pieces of paper. All of it.

  64. Felicia

    Greg, Thank you for having Mr. Williams on. His depth of knowledge and his desire to share it, is a real blessing. I have a link with 2 videos that I believe would benefit your viewers. Actually, its the 2nd video which I want people to be sure & watch. And it is the prayer spoken by the vid author that is the most important. The video and more importantly the prayer deals with why we as a nation are where we are and what we need to do about it. May you all be as touched by it as I was.


      Thank you for this link, Felicia, though I think the website linked here is in its own “last days”. may be a resource for clearing up some of the “end times” doom and gloom folks seem to be focusing upon.

  65. Galaxy 500

    here’s another conspiracy theory…I hear there is a sweet video on it too. You see the CIA using project ultra used mind control and took over flight 370.
    And what VA scandal? Clay Akien will fit right in up there in DC

    • Galaxy 500

      Where are the conspiracy squirrels…I left them a nut

  66. The Heart

    Ahhhh…the gathering of wise hearts here is magnanimous.

    Bless’ed thanks to all for the great commentary.

    Huge prayers for all souls on board.

    Family up!

    • Greg Hunter

      “Family Up” I like that. Sweet and profound at the same time!

  67. 2015

    It’s a near certainty that in another five years war will have killed most of the younger generation in this country.

  68. Mouse Click

    The best way to minimize the confusion is to pay attention to the actions, and brush off the rhetoric. Economic collapse doesn’t mean there will be a Dollar collapse. Just guessing, government services will be cut, and interest rates will rise, it might help to strengthen the Dollar. The people may be sacrificed to maintain Dollar Hegemony. Don’t forget the DHS has purchased 2.1 billion bullets. If government agents are going to do their jobs, they have to be paid in Dollars, back to the point of Dollar Hegemony. I am sure the tricksters on Wall Street are working on strategies to cope with a high interest rate environment. The Dollar isn’t necessarily about legal tender, it is about power.

  69. Roger Berreth

    Thank you, Greg, for your website and your Youtube channel. I watch every one of your videos and read your posts. I tell a few friends about your site. You are appreciated. If you ever come to Idaho to speak, let me know.

    • Greg Hunter

      I have never been to Idaho but I heard it is beautiful. Lots of green and rushing rivers.

  70. NorCar Survivor

    Is this an exit door move and why aren’t your guys speaking about this as a starting point?

  71. Rick Shade

    The bleeding economy will continue to wreak havoc on the “wealth” of America. When the pound was replaced by the dollar, it didn’t mean the English were destitute. the people lost a lot, but England survives…..even now. Same scenario now. It has already been a bad 3-4 years. I don’t know for sure, but I’d venture to say the majority of people are paycheck to paycheck, and little reserve for the next layoff or downturn. People will adjust….and make ends meet if they can. However, the government will continue to be hungry, and want to sustain itself, at ever greater cost to the people. this is the great illusion. Where people think the government is there to help them, the opposite is true. It mismanages and devours…and is…in fact….a big leech….. spending us into war, ruin, and waste.

    But it is worldwide. Russia is no safe haven. neither is China. I look at it this way. The elite are the ultimate leeches.. (bankers)…and they play their game and hope it all continues without too much blunder. Unfortunately, they are willing to “reset”, because it means they will lose land, or wealth, if they start things over fresh for the many… that will never happen. therefore, the economic waves will occur…and depressions and war will always arrive….because of the eventual excesses in wealth and poverty…a result of human greed and avarice. You just can’t legislate love and compassion….

  72. Rick Shade

    I meant the elite are “UNWILLING TO RESET”…typo, sorry.

    google “golden Jubilee” for good insight into how to prevent ruin economically….

  73. Sandiegoman

    Japan’s QE is way worse than US. Why wouldn’t Japan be the first to crumble.

    Also, John states that hyperinflation will hit due to selling of the US dollar. Wouldn’t the fed just soak them up like they have done in the past?

    It seems that all here have very strong opinions that don’t save any room for gray areas. I question everything… Thanks, SM

    • Greg Hunter

      What do you suppose would happen to the U.S. the day after Japan crumbled?

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