Dollar Rejection is Why America Ramped Up Oil and Gas Production – Rob Kirby

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Macroeconomic analyst Rob Kirby thinks the dollar shortage and liquidity crisis has something to do with the booming oil and natural gas industry. Kirby points out, “America is producing an awful lot of energy, but they are not making money doing it. What is it that would make them want to do that? That’s when I started thinking about the rest of the world or the rest of the story. The rest of the story goes something like this: Venezuela used to sell all of its oil in dollars. Russia used to sell all of its oil in dollars. Iran used to sell all of its oil in dollars. Iraq used to sell all of its oil in dollars, and up until very recently, Saudi Arabia used to sell all of its crude oil in dollars, but I believe they are now selling some of their oil in currency other than dollars. So, we have many millions of barrels of oil that were formerly transacted in dollars, and these barrels of oil are now being priced in other currencies.  The dollars that used to buy that oil are now looking for a home, and they didn’t have a home. So, America had to create a home for those dollars, which is why America has ramped up their crude oil production. In the 2004 time period, America’s oil production bottomed out at 4 million barrels a day, and now it is producing 12 1/2 million barrels a day making it the world’s largest producer of crude oil. These barrels America is producing are all being sold for dollars. They needed a place or a home for those dollars. Let’s just say the dollars that were left over when Venezuela, Iran and Russia stopped selling their oil for dollars created a spill on the floor, and they needed a sponge to soak them up. That’s why American crude oil has gone up dramatically, and that’s why American oil production is forecasted to grow even though they are taking losses on every barrel they are producing.

Kirby goes on to say, “Global dollar rejection is why America had to ramp up American oil production to begin with and global dollar rejection is accelerating. This is not going to stop. So, America is going to need to produce more and more dollars to soak more oil priced in dollars that America will produce at a loss. . . . Creating all this extra oil and pricing it in dollars makes the dollar look strong. Nobody producing these incremental barrels are making a penny. They are all hemorrhaging cash. The fact that all these dollars that are going into something that is hemorrhaging cash and losing money is the real reason why there has been no inflation. All these unwanted dollars are financing money losing operations. If these dollars were going into things that made money, the returns would be invested and would be causing observable inflation. The opposite is occurring, and the dollars are disappearing.”

Kirby predicts, “There will come a day when foreigners will collectively say no more dollars in trade. The day is coming.”

In closing, Kirby also says that President Trump is surrounded by people who do not tell him the truth. Kirby contends, “I don’t believe President Trump is informed. I do not believe the people around him would dare inform him with the truth because they would be afraid of what he might do in reaction. So, information is being withheld from the President, and he has a bunch of treasonous dirt bags basically surrounding him. . . . America is not in a good spot right now nor is the world by extension. . . . I don’t see many bright lights on the horizon, and I think where we are headed is a pretty dark place.”

Join Greg Hunter as he goes One-on-One with Rob Kirby, founder of KirbyAnalytics.com.

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After the Interview:

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Comments
  1. Joe Avg

    I think Rob is generally right regarding the Oil problems … the drone assault on the Saudi oil facilities have barely moved the oil prices … this tells me the global economy is very very weak … and oil prices may soon be headed lower.

    • uncommon sense

      I suppose Stan has gone long oil, specifically shale oil lol.

      • paul ...

        Actually Stan might do better going long oil then going short gold … because so much “smart money” is currently short gold … right now the “smart money” commercials are short 345,145 gold futures, which means that they are short 34.5 million ounces of gold … at today’s price of gold the notional value of these “short” futures contracts is about $51 Billion dollars [$51,000,000,000 dollars is a lot of money that Stan and others will need to cover if Trump succeeds in getting the US dollar down to help the oil shale industry get the higher price for oil they need to survive and keep the US energy independent]!!

        • paul ...

          What Stan does not realize is that weak oil … https://www.zerohedge.com/s3/files/inline-images/2019-10-01_12-31-06_0.jpg?itok=5o6-phCQ … is a “National Security Issue” … and the fact that it continues to be so weak indicates the world economy is not doing as well as Stan is trying to tell us it is … since we don’t have a strong economy … a dollar devaluation is needed to raise the price of oil (so the US shale industry does not shut down … which will threaten US National Security) … with other Nations “printing fiat like crazy” the US would have to “go Zimbabwe” to make the dollar weaker … but there is another option … Trump could do a worldwide deal whereby the US dollar is re-set 50% lower … the consequences of which “will easily double the price of gold” (i.e Jim Rickard’s says a re-set will likely drive gold 5 times higher)!!

    • K.Wayne

      In the not-so-distant past OPEC conspired to lower the price of OIL to ensure the American frackers hemorrhaged. The implicit consequence was destruction of Oil producing competition as well as Bankruptcy … not only of the Frackers but also the Bankers who funded the Industry with untold Billions $. Fast forward to 2019 and we see the FED conducting REPO on an unlimited basis. Whilst we haven’t exactly witnessed a Bankruptcy with the associated defaults, systemic blockage and market turmoil, what we have (without it being known to anyone but the insiders) is a financial failure somewhere in the system. Whether that is Manufacturing, Oil/Gas, Domestic or International…. it is entirely covert. What is clear although is that there is a cash shortage/credit issue. That cash shortage has been the result of building stockpiles that cant be cleared to replenish the cash. Most at risk are the Banksters and the financial system in which they breed and spread their virus. Their collective exposures to the sub prime Debt/Junk Bonds in many industries (including Oil/Gas) combined with the OTC Derivatives leads one to conclude that a default/collapse of Biblical proportions has /is being avoided. For how long……??

      Fear gripping the market at this point would send the Globe into a downward spiral from which there would be no escape (the new FED rule of keeping the narrative consistent is categorically employed). Nothing could prevent the Next Great Depression. No amount of REPO (aka QE) will save the Markets or US !!
      I sincerely hope that we are spared this catastrophe.
      But I sense that the incompetent fools in charge will not be able to avert this disaster.

      The Dollar rejection has been a work in progress, initially resulting in a stronger Dollar. In the goodness of time it will be the undoing of the American economy and our standard of living will deteriorate dramatically. Our false economy (built on Debt expansion) will be exposed as a fraud (not unlike many global major players who use fiat as a currency and money). Our Dollar will become worth…less. I would argue that it already has achieved the status of having Zero value. It is a promissory note … offering payment of some value in the future. We have been conned by those who have control of the printing press.
      We are indeed headed to a very dark place and it may come sooner than most anticipate.

      • paul ...

        K … the world economy is so weak that even bombing Saudi oil infrastructure can not increased demand for oil sufficiently to keep the oil price up … the only solution I see is what Trump sees we need … “to crash the US dollar” … as Eric has noted “cut the dollar in half and the price of oil doubles” … so … what the “smart money” shorting gold to the tune of $51 Billion dollars are not considering is that when the US dollar is cut in half … “the price of gold will double”!!!

        • paul ...

          Rob Kirby confirms for us that “global dollar rejection is accelerating … and that it is not going to slow down or stop” … until what? … most likely until the US dollar gets cut in half (and the price of gold doubles)!!

          • K.Wayne

            The Petro-Dollar rejection was talked about several years ago and as I said has been a work in progress ever since. Kirby hasn’t made any startling observation there except he has made a connection with the REPO and US Frackers/Oil.
            Next Cab off the rank … US Bonds will go sub-prime. Its inevitable when you consider the meaning of de-dollarization.

    • Rob

      Dutch bank ING’s chief economist has said “fully fledged” digital currencies will be developed by central banks in just two to three years:

      https://www.coindesk.com/ings-chief-economist-predicts-central-bank-digital-currencies-in-2-3-years

      This is a very big step toward the necessary requirements to take place during the first three and a half years of the 7 year tribulation:

      https://sumofthyword.com/2016/10/04/the-rapture-of-the-church-is-after-the-tribulation/

    • paul ...

      If Kirby is right … and US oil companies are now producing 12 1/2 million barrels a day making the US the world’s largest producer of crude oil … why are oil prices being kept so low??? … US shale oil companies are currently on the verge of bankruptcy … and these Shale oil companies are in big debt borrowing trillions from the banksters (who are now on the hook for all these loans to shale oil producers) … so the Oil and Bankster Neocon Cabal “need more attacks” on the oil facilities in the Middle East to get the oil price up (pulling Bldg 7 on 9-11 helped this Cabal a little … but these oil and banking interests are having trouble getting “the big war” in the Middle East “they really need” out of an independent thinking Trump) … so I think they have had enough … and have now given the order to Pelosi to start impeachment proceedings against Trump … I believe Trump in response to this new attack on him by the Oil, Bankster Neocon Cabal has ordered the Saudi’s to make peace with Yemen … and he is now suggesting he will remove all oil sanctions from Iran … I think Trump knows “This is All Out War” and he needs to put both the Oil and Bankster Cabal into bankruptcy (Trump knows a lot about bankruptcy) … if Trump can force the Oil and Bankster Cabal into bankruptcy … he can then “Nationalize both the Oil Companies and the Banks” … “then” … any money earned from oil and banking can be used “to directly balance the US budget deficit” and make America Great Once Again!! … and likely the real reason the Oil and Bankster Cabal has ordered Pelosi to “Pull It” and begin impeachment proceedings against Trump (which is as phony as Bldg 7 collapsing in it’s own footprint because of fire that is not hot enough to weaken steel)!!!

      • Chip

        Nationalize oil and banks? No thank you comrade… Chip

      • Stan

        Hey Paul: How is the Gold Pullback going?

        • paul ...

          Stan: How is the worldwide US dollar rejection going??

        • uncommon sense

          Good to see you are giving Jerry a rest.

    • Beverly

      Mr. Kirby,
      Thank you for discussing such an upsetting subject. Thank you for making these truths known to the world. The collapse will have to happen. Unfortunately, you are right when it comes to war. I think the powers know that they will have nothing left if they use nuclear. They won’t have a planet and they won’t have any people to rule over either. These people have got to be stopped, because they are destroying everything on the planet, literally.

    • linda Thomas

      This guy is just wrong about the oil industry here in the USA. You do not just “turn hundreds of thousands of existing wells off or on” it doesn’t work like that. I challenge you to list a number of companies selling petrochemicals for a loss.
      the IEA just put out their long range projection, read it, they project a 50% increase in petrochemical demand into 2050.
      Oh and btw when you plug an electric car in where do you think the energy to charge it comes from? Overwhelmingly from energy produced by NATURAL GAS.
      Look out your window, I’ll bet there is a NATURAL GAS line running down the middle of the street in front of you.

  2. Anthony Australia

    Always some excuse by the oil cartel, I remember when they said we would run out in the 80’s, one excuse after another.
    $1.75AUD a litre here today.

    • Hockey Puck

      Hi Anthony. IMO the whole issue of Peak Oil was NEVER about a shortage in supply. NEVER! That narrative was simply propaganda to keep us confused and stupid. The issue of Peak Oil was always about the COST OF EXTRACTION. And Kirby just validated that point again. It doesn’t matter how much oil there is in the ground. What matters is how much it costs to get out of the ground. If I have a billion dollars of oil under my house but it takes 3 billion to get out, what good is it? Am I going to spend $3 to get $1.

      The simple fact is that the oil industry needs higher prices to justify the cost of exploration. That’s a FACT! If I told you there’s a great job opportunity in Thailand and you could work for a wage that’s below the poverty line ($1.90/day), would you take that job? Of course not! You’ve got better things to pursue. Well, it’s no different for oil companies or any company. If they cannot see a reasonable profit, they’re not going to risk billions of dollars chasing a fantasy. It’s not about greed. It’s about Business 101.

      That’s why Mr. Kirby’s argument here was so compelling. Why would anyone sell something for a price that’s less than cost? On the surface, it makes no sense. So, as I see it, the REAL issue of Peak Oil (not the fake one, not the bullshit narrative we were given) is still with us. You can’t have a forever expanding economy when the most basic input, energy (i.e. fossil fuels), is becoming too expensive to produce. So what Peak Oil advocates have been saying since the beginning is we are in for a period of catharsis until we can transition over to some other kind of cheap fuel.

      The economy of exponential growth that we’ve known for centuries is in trouble. It was always unsustainable. Where in nature do you see something that grows forever? We’re just reaping the fruits of that model after a 500 year run: anemic growth, corruption, “Screw your neighbor, Look out for #1”. That’s what happens when societies collapse. The only thing that regulators can do is kick the can down the road another few months by printing fake money.

      The other lesson that 2008-2015 taught the Elite is that when the price of oil gets too high, it’s like a massive tax on the global economy and the economy collapses. So as much as the Elite would like to raise oil prices, they can’t. The world economy won’t allow it. Where Peak Oil alarmists went wrong (as did everyone else) is they never imagined central banks papering the streets with money to keep everything afloat, nor did they imagine them financing horizontal drilling, even if it wasn’t profitable. Oops! So they were only 90% right!

      The amazing thing is that it looks like physics has had the breakthrough of a century. It appears that the whole idea of stars producing energy through a nuclear reaction (the standard spiel we were indoctrinated to believe in high school) was WRONG! It’s now been proven in a lab that the Sun is an electrical phenomenon. If that’s so, we may have a whole new source of clean energy that will revolutionize the planet and bring forth a whole new era. Check this out: The Safire Project: https://www.youtube.com/watch?v=DTaXfbvGf8E

    • ConcAmDad

      “They” are still firmly in charge- the criminals remain free, distractions abound with the fake left/ right dog and pony show and low and behold gold is down $30 today.

    • Steve Davis

      Petrol costs about $2.40 / L in New Zealand. That’s $5.70 US per gallon according to my calculations. (assuming 3.785 L/gal, and 1.5 NZD/USD)The UK is even worse. That’s why they have such small cars there.

      Looking on https://gasprices.aaa.com/ today’s average price in the US is $2.65 per gallon, which is less than half of our price. The US has cheap fuel compared to us.

      • Anthony Australia

        Cheers Steve, why is it so high in California? Tax

    • PCP

      Great speech RK.

    • Beverly

      It might be good for all of us to get one of those electric scooters that you’re seeing around campuses these days. We’re going to need some way to get around–a bike, a horse, whatever. When this all comes down, we will not be able to get gas anymore and we are going to need to find different ways of traveling. People need to stock up on soaps, ointments, rags for toilet paper, toiletries, first aid products, medicines, etc. We all need to get it while we can, and hopefully we have a place to store it. And, we better have a tent or trailer too, in case of getting kicked out of our houses.

  3. Anthony Australia

    Bullish Gold, bearish Oil.

    • uncommon sense

      Like I said many times on this site shale oil is a con and a very dangerous con which has given America a false sense of energy security. These knuckle-draggers that say renewable energy is uncompetitive (despite the evidence that it is cheaper in many cases) are endangering American energy policy. Thankfully the free market is taking over and deciding which energy sources are growing fastest.

      • Eric

        Please tell us which renewable is cheaper. They also are all cons dependent on gov subsidies. Yes they all get subsidies but show me your cost basis.

        • uncommon sense

          So which form of energy doesn’t get subsidised? It is a myth that only renewable energy is subsidised. Many of the solar auctions within the last few years have been unsubsidised and subject to the free market.

      • Freebrezer

        Un S. I wish the public would pull their heads out of there @$$ and take a hard look at nuclear. Most of the Nuke plants built in the USA are/were for one purpose – produce weapon grade uranium and plutonium for building a whole bunch of [email protected]#$ing bombs and a by product was that they did produce electricity (and semi cost effective). Take a hard look at the French and their nuclear energy program – most plants are designed to burn the uranium and not produce bomb grade by products … thus they are very cost effective and much more efficient at utilizing/burning the Uranium. And I have not heard of any minor, moderate or major problem with the Frances nuclear plants – nada, zero, etc…fukushima was a one off – built to stand an 8 earth quack and it withstood a nine – the facility took the earth quack but the design lacked and did not account for a tsunami – unfortunate but also an eye opener per where they should be built. Per alternatives – I think the wind turbines are just an ugly eye sore to the landscape!! Plus wind turbines slaughter birds “Director of Science Nature Conservancy in Wyoming, Holly Copeland remarked, “Over a half million birds and about a million bats, a study in 2013 by Smallwood, et al showed.”

        • Uncommon Sense

          Yes but that one nuclear reacter has compromised half the globe and polluted the Pacific. The security costs are horrendous and the nuclear waste takes thousands of years to become safe. Horrendous technology. Also what I’d somebody bombs a nuclear facility using drone technology or is attacked in cyber warfare. More scenarios unaccounted for?

          • Uncommon Sense

            By the way how much wildlife has fukushima destroyed or weakened? How much wildlife was destroyed in the BP oil spill? This damage is irreversible. How perverse to soley attack renewables for killing wildlife. Not to mention all the wildlife killed by fracking from the poisoned water tables due to the chemicals used.

            • Freebrezer

              it is perverse when oil kills wildlife … but it is not when ‘green technologies’ do?? Really? isn’t the goal to produce new technologies that are both safe to the environment and produce clean energy? & How perverse to soley attack oil companies for wildlife death in the gulf when fertilizer run off kills far more every year! https://www.usatoday.com/story/news/nation/2019/06/10/dead-zone-near-record-zone-forecast-gulf-mexico/1407088001/

              • Beverly

                The pig industry in some states is absolutely polluting rivers and the air and makes people sick and animals too, I’m sure. When you eat pork, you are also eating parasites that make you sick. Why are we allowing this and the rivers and air to be polluted by this?

          • Freebrezer

            U – please sight sources per “Yes but that one nuclear reacter has compromised half the globe and polluted the Pacific.”

      • Chip

        Renewables are NOT a viable alternative to “fossil” fuels (which don’t actually come from fossils but that is a discussion for another day)… Chip

        • Uncommon Sense

          Well shale oil sure as hell isn’t a viable alternative. What is your plan then?

        • paul ...

          We have the technology to make oil right from all the CO2 in the air (and in the process release oxygen) … when the oil is burned it uses the oxygen we released by making it … it is a zero sum process … effectively “green oil” (CO2 neutral) … Trump should impose sanctions on the oil, coal and gas industries to force then to begin “making fuel right out of the air subtracting CO2” rather then subsidizing them to drill for fuel products that add CO2 to the air!!!

    • Eric

      Reset the dollar lower and oil prices rise. Kill 2 birds with one stone.
      The dollar needs to be lower and higher oil prices will support the oil industry.
      We’re talking major inflation but that’s coming anyway.

      • K.Wayne

        Killing 2 birds with 1 stone……but…..
        Once the wheels are in motion of Inflation…there wont be any stopping it. Rates would have to move upward rather dramatically … to halt the advent of an Inflationary Depression. We all know the Globe cannot support higher rates let alone real positive rates.
        A Dollar reset just brings about the end game much sooner.
        I do believe that the so called financial wizards at the FED know this already.

        • Beverly

          “The economy will be propped up like a man on high stilts. It will be propped up for as long as possible and then it will be like the stilts get knocked out from underneath, suddenly. This will happen overnight.” –John Koyle. This is a prophecy made clear back in the 1940’s, with another one made by the same person saying we wouldn’t bother to pick up dollars off the ground. These prophecies are coming to pass just like they were prophesied.
          Kirby is confirming those prophecies.

      • paul ...

        See … Eric is right … we don’t need to bomb, bomb Iran or bomb Saudi infrastructure or deny Russia the ability to sell oil … in order to get the oil price higher … all Trump has to do is get the US dollar lower … if Trump can cut the value of the dollar in half … the price of oil will double … saving the shale oil companies and the banksters who loaned them trillions … but what the ordinary folks who’s money saved buys half as much as before? … they need to buy gold that will by twice as much as before (unless they listen to Stan and save fiat paper instead of gold and silver)!!

        • paul ...

          You know … as everyone waits for Trump to re-set the dollar lower … they completely forget that God did the re-set long ago … under God’s original “re-set” he made certain metals “rare” … people simply have to wake up to that fact … “the re-set” has already taken place … it was done by God long ago … waiting for Trump or the IMF or the Banksters to come up with “their re-set” is a fools game … the re-set is already set in stone by the hand of God … and those smart enough to buy “what God has made rare” will be way ahead of the games men play (to fool those who refuse to use the brains God gave them)!!!

  4. Mark James

    Great interview! Rob Kirby looks very well after all he went through!!

    I have a serious question. I understand “burning money” when $7 Trillion is wasted on wars which create no “future economic value.” But if gas is being sold at a loss (as he proved – sale price < production cost), isn't that a benefit (discount) to the end buyer – whether that buyer be here or abroad? So is Rob Kirby's argument that businesses, consumers, producers, etc do NOT have inflation because the cost of creating their goods / providing services is decreased because of the offset of cheap cost of energy? So basically, they don't need to increase the cost of their goods or services because of cheap energy? So, let's say labor costs (or other costs) are rising, it is offset by the cheap energy that is mass produced (for no purpose than to keep money flowing)?

    My point is that, unlike wars, the gas is eventually used — not necessarily wasted (like bombs or crashed tanks / planes). If they were burning oil fields or literally releasing gas (or burning off the gas) to no economic benefit, that is money flowing out of the economic structure. Instead, it is going back into the economy. The way I could see it benefiting (although, as Rob Kirby says…. makes no sense) is by offsetting rising costs.

    Am I going in the right direction here?

    Thank you! Very thought provoking and interesting analysis!!! Maybe I need to watch his interview again.

    • William Stanley

      Mark,
      I liked your comment. I don’t think we yet have a truly coherent explanation for some of the recent phenomenon. Without accurate data and transparent accounting its really hard to get a handle on any of this.

    • john duffy

      Its all a scam. The cost of production of oil is higher than the selling price. This is made up by the surreptitious printing of money. Sure this makes oil cheap for Americans, but it moves the in inflation to other nations by artificially devaluing their currencies. Basically foreign nations are paying for America’s cheap oil. When they figure this out, the US military usually steps in to keep them in line.

      • Mark James

        John Duffy – With respect, this is where I get lost when you write, “it moves the in inflation to other nations by artificially devaluing their currencies”. Shouldn’t the US money printing devalue the US currency and cause inflation here as dollars return home? Like they did in Zimbabwe? This is where I get confused on Rob Kirby’s analysis. I really don’t follow the logic. Again, he is smarter than me, so I am missing a connection. I also DO believe that there is probably WAY MORE money printing out there than even the $21 Trillion that Dr. Mark Skidmore and Catherine Austin Fitts found. That is just 2 government entities they looked at for a certain number of years! Unless, like I posted above — that deflation of gas pricing somehow offsets other increasing costs which allows us to show no “net” inflation. Of course, we know from John Williams (Shadow Stats) that there IS real inflation. To say otherwise, I just do not believe. I watch our expenses VERY closely, and I know that things are more expensive today then they were just a few years ago.

        And K. Wayne – I think Gerald Celente has been saying Crony Capitalism for years. So I am not sure if you will be able to trademark that. 🙂 Not sure if he has “PEAK” Crony Capitalism. But you have a point! It is totally not sustainable. But I don’t feel like our economy has been sustainable since 2000, and 2008 should have been the end. The explosion of debt, financial instruments, and derivatives is just astronomical compared with the underlying assets.

        Thanks for the responses.

    • K.Wayne

      Ultimately it is not sustainable.
      This is effectively what I would label as PEAK CRONY CAPITALISM. There is nothing else to describe it and it is symptomatic of the day and age in which we live.
      I take credit for coining the phrase and for calling it is what it is. Lets see how long it takes the media and financial writers to pick up on this and re-quote it.
      The FED has a lot more questions to answer in light of what they are doing. The Truth will inevitably come out….whether by an Act of Congress or through some mishap or bankruptcy. Their time is limited. Their 100 year charter has expired.

  5. Jackson

    Greg could have a quick xtra interview with Pastor Shane Warren who in 2012 received a prophetic vision about a “dollar storm” whereby FRNs repatriate at once to USA from abroad. Also that oil would no longer be priced in dollars. Also that foreigners were conspiring to undermine dollar. And also that SILVER, not so much gold, would spike hugely on these events. https://youtu.be/87l4512Q4rY?t=1038

    Like many of Clif High’s forecasts, often chronological time is not the key but other event coinciding (time markers). Not long after Shane Warren’s prophetic vision, Clif High made a prediction about silver. The coincident events he said then are instead appearing now as the deepstate is being rolled-up by Trump. https://www.youtube.com/watch?v=i_3pNA5c2ec

    • Occasnltrvlr

      I figure the “dollar storm” will be what triggers the Global Coastal Event.

  6. Paul in oz

    Thanks Greg for that episode … My mind is numb from explanations on so many things that I could not reconcile. Mr. Kirby’s appears flawless and without equal … Many of your guests identify ratholes and make similar assertions, but none have shed light in the rat holes like he just did. There is nothing that can be added except to re-iterate, get prepared and stay prepared. The shell game may continue for a substantial period or may end very soon … but at some point the jig will be up!

    • Paul in oz

      sorry this should read Mr. Kirby’s analysis appears flawless and without equal

  7. AndrewB

    Hi Greg
    Great interview with Rob Kirby – thanks.
    Maybe I’m just dense, but to my mind Rob did not tie his thesis, about dollar absorption into the fracking money-pit, to the SUDDEN shortage of cash (dollars) in the Repo market. Is it because the banks have lent oodles of dollars to the fracking sector and the loans are in default – due to the losses being generated? If so, this could not have come as a surprise to the Wall Street banks or to the FED (since the shareholders of the FED are the Wall Street banks – per G. Edward Griffin). So, maybe the unexpected need to inject yet more dollars into the Repo market (gift more dollars to themselves, at the expense of our children and grandchildren) was not unexpected at all. Just QE under another guise.

    I do not disagree with Rob’s analyses of the fracking industry, international rejection of the US dollar, etc., but I remain to be convinced this is the principal reason for the Repo ‘debacle’. Alasdair Macleod of GoldMoney has an alternate explanation. Not suggesting Alasdair’s analysis is more valid than Rob’s – in this dystopia of lies, TPTB force the propaganda-immune to speculate – but his theory is well researched and worth a read. I can’t post the link here, but readers can find the article by searching;
    ‘US Repo-calypse: The Ghost Of Failed Banks Returns’

    • William Stanley

      Andrew,
      Good points!

    • Freebrezer

      A – I read the article yesterday, I think it is ALL of the above! …i.e. I add it in with Kirby’s inputs; along with Armstrong model showing a big change in the first of Jan-21; along with Kyle Bass’s analysis of the huge corruption in the Chinese market; the Japanese QE to infinity; EU at asinine negative interest rates … this time it is a cacophony of world bad investments, world bad decisions (mainly by the large bankers for greed), hugely over looked fraud every where; and a young generation educated/corrupted via with radical socialism that will result in the perfect storm … and at this time the USA has a political class that blatantly lies (Dems), protected by a corrupt media … the political turmoil that is going to rock the USA is going to rock and shatter the world! Those very dark clouds well over the horizon portend something very bad cometh this way to the world!

  8. AndrewB

    Here is the link to the Alasdair Macleod article mentioned in my earlier post :
    https://www.zerohedge.com/political/us-repo-calypse-ghost-failed-banks-returns

  9. Red

    Rob is just great Greg, You know the whole “market share” bs has been the mantra and model for every corporation for at least 100 years. Amazon I doubt has ever been profitable just servicing existing debt to hold “market share” anyway i ramble, but Rob brilliant ,brilliant guy. Essentially USA is just a corp servicing debt…was gonna say corporartion but maybe corpse better description. not funny I know but on the bright side every other nation is in the same debt bubble…

    • uncommon sense

      It has been my contention that the emperor has revealed himself to have no clothes after threatening China and Russia over Venezuela and then backing down. Now any country will feel emboldened to act in defiance of the US global dollar policy.

  10. Fredrick (Rick) Getzschman

    Rob and Greg you are right on the money. President Trump is surrounded by scum bags, they are going to continue to keep Donald Trump in the dark, his cabinet and government employees will continue to leak like a sieve and the problem the United States is facing is since 1913 there has been no lawful money of account. The federal reserve is a well crafted slave plantation scam and it’s been over for the federal reserve for a long time now. They have kept the fiat dollar alive by gimmicks that are running out for their economic scam. The truth is the United States has no laws in effect, it’s a pirates ship of Official Pirates, my term for Officialdom is accurate in that Public Officials and Public Employees are “Pirates of the United States Constitution and Bill of Rights”. The whole nation is operated on contracts and some contracts will be enforced if it benefits Officialdom and their pirate federal reserve system. Every State Governor is the head pirate in each State, it does not matter what private political party they belong to, US politicians are scum of the earth, the child trafficking, human trafficking, child stealing is operated by the Feds and Statees is just one racket of many. The whole dollar system is fiat currency of no account is lawless. The fiat dollar printed on demand or burned in a barrel is not lawful money of account, it is a debt instrument enforced at the barrel of a gun in all fifty states by the so-called courts, enforced all around the world by the US Military, that is why there are near 800 US Military bases around the world, to enforce the dollar on behalf of the federal reserve banks and US Politicians. The United States is suffering the rejection of the dollar for many reasons, one reason is the United States contracts are no good, worthless contracts and now everybody around the world has enough experience with US Officialdom to know they are no good, the fiat dollar is no good and the majority of the world is moving on and using currencies that are reliable, redeemable and of account. The only thing US Politicians are good at is crime against the people, waste, fraud, abuse, child stealing and lying every time they open their pie hole and spit out their latest lie, scam, fraud or whatever they are spewing. The problem that Officialdom has is that now a large majority of the US population acts like US Politicians, monkey see, monkey do. You can not expect much when the entire governmental system is lawless and they have done that willfully, knowingly and voluntarily. The Statees are out cremating human remains against the will of parents, creating fictitious obligations with the help of the Feds along with kidnapping, sponsoring kidnapping, forced and un-authorized enlistments of children into the United States Military, getting children to waive their rights by US Military legal departments getting recruits to sign away their rights by trick and schemes of Official frauds. All these crimes are occurring because there is no law in effect in the United States, the entire government is being operated on “emergency rule”, the emergency is the US Government has no lawful money of account and they have no law. That is the US emergency, printing federal reserve notes is a temporary gimmick that has been in use since 1913 when Congress gave away their authority to private bankers. Congress has no power, they gave away their power by contract to the private federal reserve bankers (the power to issue currency and regulate the value thereof ), that is why Congress and the Senate is packed with incompetent politicians and bar association attorneys. All you have to do is observe the above for yourself to see what is going on. Those private bankers as owners are making all the decisions and US politicians are the water boy / water girl carrying out the decisions made by the owners to the masses of Americans who will suck it up and consume those messages from the private banker owners. As more Americans awaken from their stupor, the worse conditions will get in the US. By the time a critical mass of 3% of Americans awaken to the scale of the crimes by Officials masquerading as Officialdom, when the big shift in consciousness occurs you will know when you see Washington DC is abandoned, the State houses abandoned, sitting empty while the whole control structure collapses. The outfits styled as “law enforcement” are not allowed to enforce the law, they have been limited by their owners the private bankers, private bar associations and other public pretenders to revenue raising schemes, cover ups on behalf of corrupt US officials, Corrupt Bankers, Corrupt Government Employees and mass arrests for use by corporations in slave labor camps styled as US Prisons and State Prisons, slave labor is what 85% of the US Prison population exists for that purpose alone. You might have the other 15% of the US Prison population as actual convicts of common law crimes and in that 15% is the medical cases of sociopaths and psychopaths, a group of people who did not make it into a US political office before they committed their crimes, they didn’t get their position as a banker, judge, attorney, ceo or whatever before securing an office that flies under the banner of “too big to jail” “too big too fail” , had that 15% waited to secure an office first they would not be in prison today. True story. One thing for sure for the US is we can see the decay, the collapse everyday, look at the degeneracy of the nation and those people are a mirror image of their so called leaders. The fracking business is to help paper over the loss of the international states rejecting the worthless federal reserve note debts. Public Official Corruption in the United States is massive in scope and massive in nature as the three bubbles begin to pop in real estate, automotive, stocks/bonds, insurance and Government, they will not be able to print enough money to cover it up, even with Warren Buffet and his cronies in Omaha, Nebraska in Turdshire Castaway. Public Official Corruption in the United States along with other corrupt officials has infected the general population with their lawless rackets, fiat currency, human trafficking, corrupt scummy government religious corporations, dirt bag bar association attorneys, the importation and encouragement of illegal drug use and other crimes against the families and their hatred of American families are just a glimpse of the crimes occurring in the State occupied courthouses (formerly known as county courthouses). My prediction is the corrupt officials will all flee when the big ship of state goes down and they no longer can hide behind the government corporate shield of limited liability, those famous Official capacity defenses without standing, those public pretenders in black dresses will run out and corrupt law enforcement will burn their uniforms when their revenue schemes are no longer feasible or profitable for their corporations. But hey I am just a man in a flyover State.

    • Larry Bradshaw

      Fredrick that’s it in a nutshell

    • Russ

      Seriously? No paragraph breaks? If you would put more effort in making your words readable, you might get more readers.

    • Freebrezer

      F – Please! – You left out a huge amount of the scum (big money/globalists) that comes from Europe, England, Mexico (google Mexican cartel drug wars, the photo’s are eye openers/and plain, plain brutal!), China etc,. … Yes – most Fed bankers along with most politicians are corrupt, but I think it is the American voter that got us into this quagmire – Vote sh$t in get sh$t out. Plus it all does not comes from USA. Have you checked the currency in say EU (Oops – Fiat), or say China (Oops fiat), Japan (oops fiat) … I can go on and on! Plus where do you suggest these scum are going to run to? If America gets a bad cold/flu I don’t think most people realize how bad it will be in most other parts of the world! The world/humans go through cycles, and the world has just experienced the greatest prosperity for the most humans in the last 80 yrs vs. the history of man kind!

    • john duffy

      The reason Frederick’s comment is so long is because what he says is that bad!

  11. JC

    You posed a good question Greg, “What’s going on?”
    Regarding Martin Armstrong and the dolkar, I see he posted something today on his private blog.

    Armstrong Economics
    PRIVATE BLOG – Liquidity Crisis & Dollar Hoarding Traces to Germany

    • JC

      Sorry, “dollar, not dolkar”.

    • Diane

      I read that JC.
      Wish I was able to attend the Orlando conference.

  12. William Stanley

    Mr. Hunter,
    My take is that Mr. Kirby has most of this right, but part of it not exactly right.
    (1) Of course he is right that we can no longer trust financial reporting in either the public or private sectors. As John Williams has pointed out, American inflation and jobs numbers systematically hide the ongoing Great Recession by understating inflation and overstating the health of the jobs market. However, IMO, although American institutions are a large part of that problem, they are not the only offenders. For example, does anyone trust the numbers coming out of China?
    (2) Mr. Kirby clearly is right that there is something awry about the continued flow of lending into the loss-making American gas and oil fracking sector. However, that looks to me to be a joint operation between the US Treasury and the Fed: I suspect that Treasury is pressuring the Fed to encourage lending into that sector in order to maintain US oil and gas output and, as a result, to suppress not only oil and gas prices, but the fall of the dollar relative to other currencies.
    The problem with that is threefold (at least): (a) doing so hobbles the ability of American manufacturing to sell into the world market, (b) the banks are (potentially) on the hook for the eventual defaults on those loans and, (c) when it stops, consumers will be hit with big price increases for oil and gas.
    I suspect that there is likely an understanding that the cooperating banks will be bailed out when their loans to the fracking industry are (finally) recognized as permanently under water. Otherwise, the banks would not be lending them so much money.
    (3) Mr. Kirby correctly notes the (presently) overseas dollars “are looking for a home.” My suspicion is that such money is flowing into US financial markets — thus buoying their prices — and ending up in US bank balances. Hence the continued low velocity of money. (Low velocity mathematically implies high holdings of money balances (a stock) relative to nominal GDP, which is a flow of money).
    Most of that money resides in deposits at banks. Thus, potentially, banks actually do have quite a lot of money on hand to grease the gears of the real economy. The problem is that the overall economy is lousy and the gears aren’t turning very fast. My guess is that that fact is being obscured by the false data regarding inflation and employment and the fact that the money is being created and lent to uneconomic, loss-making enterprises such as fracking, to consumers (which partly shows up as credit card balances), and to governments to cover fiscal deficits. As the (still denied) bad/impaired loans pile up, the banks tell us that there is a shortage of liquidity, hence the purported “need” for the recent huge upsurge in overnight lending to banks.
    (4) My disagreement with Mr. Kirby is about why inflation does not seem to be afoot. He thinks the money flowing into loss-making enterprises disappears. IMO, he would be right about that IF the loans to those enterprises were extinguished via defaults on the loans. However, so far the frackers have not defaulted and that money continues to flow back into the economy via the frackers’ business expenditures. Therefore, I suspect the lack of apparent inflation is only apparent . . . and Mr. John Williams is correct about the statistics. All that said, the bottom line is the same: pain is coming.

    • uncommon sense

      1) tick
      2) tick
      3) tick
      4) tick
      Top marks William!

      I might add as an afterthought, where will America obtain its energy from when this fracking industry collapses? Is there a sustainable energy policy in place for when this all fails? Will America be able to replace the lost oil and gas by purchasing from abroad and will this make America more dependent on foreign powers such as Russia and the Middle East for energy?

  13. Robert

    Let’s face it, just how much stuff do we need? This hyper consumerism has exhausted itself. We didn’t live like this prior to the 80s. Now we’re told we must buy something all the time to feel good. I grew tired of the stuff that owned me and sold off much of it. I live in a 458 sq ft apt now and I’m very happy. That hyper consumerism drove the markets higher, now the real economy of practical living will be the norm again.

    • JC

      Robert, I totally agree with you. I remember one time in the mid 80’s noting that the number of newer cars on the road far outnumbered the number of older cars. Prior to the 80’s it was the other way around.

      • uncommon sense

        let me guess, car financing (auto-loans) became more available during the 80s onwards? Debt and cheap credit is behind living beyond our means.

        • JC

          “uncommon”, good guess and exactly right!

    • K.Wayne

      Richard Russell said “Inflate or Die” with regard to the machinations of the Monetary/Financial systems.
      We are programmed to replicate this mantra throughout our life via consumerism.
      Should we venture into the world you prescribe (en masse) then we Deflate. Practical living as you refer it, will become extreme hardship. We cannot have the advances that we have witnessed in the last 3 decades without economic expansion, unfortunately through Debt expansion and Black Money.
      The Goldilocks Economy is a fantasy. This even though we educate many esteemed Phd Ivy League Economists and Financiers….and….that with all their combined knowledge and training…. still cannot deliver the Utopia we so desire and worship. Why?
      Because the system is designed to reward Corruption. Its is designed to reward failure. It operates without checks and balances. It feeds on Greed and Self Interest.

    • Freebrezer

      Amen!

    • Paul Anthony

      Great thoughts and post Robert! Thank you!

  14. Mike Cull

    something seems to be missing in this story. No mention is made as to how US pays the overseas enterty when Dollars are returned to Treasury. Something of value, generally swap for another currency, or gold occurs.
    MJC

  15. Ronnie

    Another brilliant interview. This will be on Zerohedge forsure.
    Wish you two could get a job with Trump. The planet needs protection from the Feds.
    Just a job, food-shelter and a bit of down time is all people need right now. (No moar wars will do just fine.)

  16. Joe Lalonde

    Greg,
    I hope my logic is wrong but the fix is in…
    I see Hillary Clinton as the next President.
    President Trump never put an investigation into Hillary’s former activities and now is weak on the lock her up and can’t use it.
    The Democrats went after and closed many opponents websites and the party has no viable candidates to effect President Trump.
    The only option left is to bring back the media’s champion…Hillary Clinton.
    The media is already doing interviews to bring her back…

    • Greg Hunter

      You are dreaming Joe.
      Greg

      • Uncommon Sense

        Metro Bank looking a little dicey over here.

      • kk

        Joe’s right, I am afraid. Killary has gotten herself some new plastic surgery and lots of coaching on how not to cackle and scream and she’ll be announcing her candidacy as the only unifier who can win as soon as she determines that all the other Democrat primary candidates have sufficiently bloodied each other. Then, she will have no choice, of course, to come in and save the day. Don’t you remember how good the economy was under Bill Clinton and how he governed from the center? That’s what we need more of / sarc.

      • Clare Doll

        Greg,
        Could you offer some sort of analysis on James Howard Kunsler’s latest article pointing out that under Bill Clinton, a treaty was signed between the Ukraine and the US outlining “Mutual Legal Assistance in Legal Matters,” specifically making LEGAL the platform upon which President Trump is currently being impeached.
        https://kunstler.com/clusterfuck-nation/civil-war-on/
        What bothers me about this treaty is that President Trump’s team surely KNOWS about this document but is letting the charade drag on. Please do not reiterate the 4-D chess play in which he is simply allowing the Democrats more rope to hang themselves, either. That has already happened thousands of prosecutable times over!

        • Clare Doll

          Typo, but same URL. MUTUAL LEGAL ASSISTANCE IN CRIMINAL MATTERS.

        • Clare Doll

          OMG, another typo! specifically making ILLEGAL the platform upon which President Trump is currently being impeached. The point being that Kunstler wrote a Hell of an article!

    • paul ...

      Talking about hypothetical’s (like Hillary becoming President) … what the hell is going on with the Fake News Media? “Now they are telling the truth”?? … first the NY Times outs the whistleblower “as a CIA agent” … now CBS and the whistleblower’s pro bono lawyers “are slugging it out”??? … this whistleblower’s confederates in the CIA will soon become known for all of us to see … and this latest CIA operation will then be seen for what it is … “another coup attempt” by Deep State Neocons and Demon-rats (that the Main Stream Media seems not to want any part of)!!!

      • paul ...

        Great editorial by Bob Moriarty … “An impeachment would be so wrong” … “it would lead to a dictatorship run by the Congressional/Military/Industrial Complex (CMIC)” … and … “that’s a world no American wants to live in” … “if they would just think about it” … and picture Hillary (or some Hillary clone) as President of the US the way Joe just did!! … http://www.321gold.com/editorials/moriarty/moriarty093019.html

  17. Jerry

    Greg,
    I hate to say I told you so, but I’ve been talking about the Saudis selling out to the Chinese for the past few years.
    https://www.usnews.com/news/the-report/articles/2019-08-23/saudi-arabia-longtime-us-ally-builds-ties-with-china

    Rob is absolutely right, the repos are trying to replace the loss of petrodollars that are being sold off to the Chinese. The petrodollar for all intents and purposes is dead. Contrary to what others say, a gold backed replacement system is waiting in the wings. You know it. I know it. And the central banks that have bought over 75 tons of gold in the last six months know it.

    Gold is being smashed so the central banks and their elite friends can load up on cheap gold before the reset takes places. What makes you think they would pay top dollar if they didn’t have to? I’ve seen this movie before. A corporation I worked for made their fortune by smuggling gold in from Canada during the depression. Those that were stupid enough to buy stocks and bonds found themselves in a close relationship with the ground when the bottom fell out. FYI my aunt that had contacts with Warner brothers moved her business to
    Hong Kong two years before the crash, Tell me she didn’t know something?

  18. Mark Gunderson

    Thank you Greg , as always a great interview. Rob always has great insight even if I don’ t like where he see’s us going. Peace be with you both.

  19. Dave Duclos

    Rob is spot on. Question is where, exactly, is the 21 trillion going to keep oil flowing at a loss? Is it going to the bank lenders behind the scenes? This knowledge would clear up a lot.

  20. andyb

    Greg: In Martin Armstrong’s analysis of cyclical events throughout history, it indicates that the next crash will occur around 2024 which, very roughly, is coincident to Strauss and Howe’s predicted Fourth Turning “crisis”.
    I’ve had a problem since 2015 with Martin’s prediction. I felt for sure that the psychos in charge couldn’t kick the can any further. Boy! was I wrong. Almost five years later and no crash or financial crisis. To be sure it is lurking just under the surface; there are far too many negative economic realities out there. But just maybe Armstrong will be proven to be correct and that would indicate that Trump will escape the crisis until after he’s re-elected.

  21. jon

    Hi Greg, Great interview. Rob’s analysis seems to be a positive in a dysfunctional global economic system. “If” the US can create more Needs and Wants with fiat dollars and keep the inflation and costs low in fiat dollars for the public. This certainly appears to be a positive. This is a subsidy to the American public, with the accumulated fiat by the powers that be. If as Rob says is resulting in less and less use internationally of US dollars, then this should translate into less and less trade with the US. I believe Wayne Jett that we need to get the current account deficit back to zero. The less trade imbalance due to less trade will force this issue, which will be good for the US. Overall Rob’s comments although negative in a moral economic way, is a positive in a bad economic system for the US citizen. Mass inflation ahead, maybe, maybe not.

  22. Da yooper

    How can Rob say there is no inflation when everything i buy is & has gone up in price & the size has gone down 20 – 30% over the last 2 or more years ? Food – gas – medical – prescriptions – auto parts – car & truck insurance – property insurance my property taxes… no inflation give me a F’n break. I just had my septic tank pumped & the price to do that went up 45$ from when I did it 2 1/2 years ago no inflation BS.

    The auto industry has priced themselves out of the market. Why buy new when as soon as you drive out of the dealers lot the vehicle is worth at least 30% less ……that is not a smart use of your money. I can buy a nice used vehicle for what i lose by buying a new vehicle.

    “American regulators dont regulate” …….of course they dont because the rule of law in America is dead …the rule of law does not apply to those “special” people who rule & bank & spew fake snews at us. Until that ends nothing will change. Invest in some rope because one day we will need to use it because that will be the only way this gets fixed.

    • Da yooper

      As I am getting ready to have lunch I am looking at a 10 lb bag of potatoes sitting on the kitchen island ohhhhhhhhhh wait it is NOT a 10 lb bag it is an 8 lb bag & the price when up as well …..dont tell me there is no inflation right there is an easy 20% inflation + the price increase.

  23. Paul P.

    Wow, what a fantastic interview! Hard to get my head around this but Rob Kirby laid out a probable scenario on the repo issue although I tend to think Deutche Bank and Ford Motor company downgrade by Moody’s are contributing factors. The world economies are slowing ( China, Europe, India) and the USA struggles to attain 2% growth. If the world economies are slowing dollar demand should be slowing. If Russia,China,Iran, and other countries are weaning off the US$ dollar via oil sales the US$ demand should be slowing- but is not. So something nefarious has to be going on and Rob’s explanation seems to have merit. The financial dark clouds are formulating similar to 2007-08 IMHO . The solutions of the last financial crisis did not solve the problem- Ultra Low interest rates and money printing and debt explosion. Sadly , these tools will be used again in the next crisis- but will they have the same effect? No! Thanks Greg for the great work you do!!!

  24. Arthur Barnes

    Greg, Mr. Kirby clearly states a case of bleak for America. Looking over the politics of the country at present with economics aside leaves one to wonder just how this Country can do anything but go down in stature. Now add Mr. Kirby’s economic theory in the mix and you get an explosive mixture of gasoline and fire. I predict a civil war is coming, we are experiencing a “cold” civil political war at present with a hot one to come soon after the demogods take power & create their banana republic they long for. Should our President be impeached based upon political made up facts from spys of the CIA inside the Whitehouse could well spark the civil unrest. I, for one, will go to the streets and protest. Question is: Will any of You?

  25. Mike

    Peter Schiff always talks about how massive price inflation will hit when all the printed dollars return home. The burning of excess dollars in unprofitable businesses is better than massive price inflation during the transition to a new economic system. Trump does have many swamp creatures around him but I think they are tools rather than controllers. Anyone who claims that “Trump is stupid” is definitely missing something. It seems that the financial reset is already in progress and the insane financials are a side effect. What do countries with excess dollars get for their money? How about destruction of the globalist cabal and freedom from their evil plan for humanity?

  26. paul ...

    This is interesting … we have Russia acting like the US (asking NATO to ban missile deployment) … and NATO acting like Iran (rejecting the Russian request) … seems warmongers (wherever they are located) act the same … https://www.zerohedge.com/geopolitical/nato-rejects-putins-request-ban-missile-deployments-europe

  27. Todd

    wow! This is just what I was thinking about yesterday! How can an economy keep going without profit? What is the future value of dollars? Oil=gas=food=real stuff=silver=gold! These real things have become anti-dollar! The dollar was once based on the real stuff! Then the government stole our gold and no one knows where it is! What happened to government by the people, for the people??? We are in the eye of a hurricane! Time to pray! We need Gods help! We need better politicians who support the constitution! Thanks Greg and thanks to Rob, great interview! God bless America! Let freedom ring!!!

  28. TJZ

    Greg,

    I have a different take on the above. Unlike 2008, when the U.S. issued TARP facility to underpin the bankrupt banks, we now have the the fed quietly funneling funds into the repo market for the same purpose. Again bank bail outs are occurring, inclusive of foreign banks, to prevent a collapse of the banking system, including our non collateral deposits. The same inter-bank refusal to lend is occurring!
    In a multi-polar and collapsing world economy, how else is the U.S. to protect itself without producing oil/natural gas, even at a loss?
    As for the U.S. printing of currency, how about China, Europe, etc? This constant pointing at the U.S. as if we are the only money printing culprits is ridiculous!
    Best wishes

  29. Country Codger

    Way to go Rob!!!
    Lo Iyrah!
    Shalom,
    CC

  30. Jallen

    Greg,
    WOW, What an interview, do I dare say maybe your best. Forewarned is forearmed, America’s days are numbered financially speaking. When will the people responsible for rigging the metals markets be put in jail? So these clowns invade Iraq because Saddam Hussein wants to sell his oil in non dollars, so we invade his country and kill him, as this is the first nail in Henry Kissinger’s Petro dollar. How about that evil Hillary and what she had done to Omar Khadaffi because he put his country on the GOLD standard and bypassed the dollar. We now know the weak spot of these clowns running America. I hope the boys at the GOLDMAN SACHS are shaking in their boots. When the SWIFT system collapses so will America as we know it as it will be the death knoll of the Almighty Dollar. A word to the wise, DIVERSIFY and protect yourself from the collapse of the almighty dollar. The boys are suppressing the price of Gold and Silver, take advantage of it. AGAIN, Greg this maybe the most important interview you have had to date as you are doing a public service awaking AMERICANS TO THE DEMISE OF THE DOLLAR. HATS OFF TO ROB KIRBY AND HIS MOST INFORMATIVE INTERVIEW AND HATS OFF TO GREG FOR SUCH A FIRST CLASS JOB INTERVIEWING ROB.

    Jallen

  31. Bradley

    Great Interview as usual with Mr. Kirby. His honesty and analysis are always refreshing and eye opening. I worry a bit that this stuff eats at him as you can tell he has a passion about it all, to see all this fraud exposed and brought to the attention of everyone. You have a lot of readers. I just wonder what would happen if each reader would save an ounce of silver every paycheck and spread the word. I think the only way to bust the paper fraud will be a dried up physical market. As Mr. Kirby has stated…”The regulators do not regulate”. Completely useless and a waste of tax payer money (as usual with government).

  32. joe

    https://kunstler.com/clusterfuck-nation/the-g-7-blues/
    Howard Kunstler often writes of the shale oil debacle

    • Greg Hunter

      Kunstler a smart guy too Joe!
      Greg

  33. eddiemd

    Great interview.

    Where does FATCA fit into this equation? Almost all worldwide finanicial institutions now report to the IRS on US citizens abroad. Would the IRS (CIA/FBI) be able to crash foreign systems through use of this act?

    I would suspect that all foreign banking systems are under control of the USA in some manner.

    Everything is in place for total control of finances worldwide. Interesting how Cuba, Venezuela, Iran, and North Korea are outside the system. Russia and China are getting out.

    Watched Guiliani rip into George Stephanopolous this Sunday morning news show. Guiliani putting out truth bombs with George trying to cut him off and shut him down.

  34. Marie Joy

    I think the American aerospace industry is prepping for WWIII.

  35. jake

    Hey Greg,

    good interview, but i think Rob will re-adjust his thoughts again. It not about oil. Since America is bankrupt, and taxes are not enough to fund the government US Treasury auctions are imperative. The problem is foreign central banks, and countries scaled back buying treasuries in 2014, and are buying gold. After decades deficits finally matter. Big banks have to soak up the treasuries since no one else will. Banks can’t absorb all the weekly treasury auctions. Eventually the Fed will have to buy them and monetize the debt QE infinity ( they will probably call it something other than QE to fool people. For those with metal and possibly crypto things should be big time in our favor. Everyone of your listeners & Rob should read over this thread by Bloomberg opinion writer. A lot of really good CFAs have also noted this.

    https://twitter.com/BChappatta/status/1177227010973872128

    Thanks Greg!

    • Greg Hunter

      Jake,
      There are so many reasons and way this could all blow up it is scary. I cannot discount this either and looks like an all of the above answer.
      Thanks for posting.
      Greg

  36. Robert Happek

    Rob Kirby is right. Exporting cheap oil creates demand for Dollars and stabilizes therefore the exchange value of the Dollar. In the past, the US imported cheap oil from abroad (mostly Canada and Venezuela) and paid for it with Dollars. So in some sense, the US is returning the value it received during the past few decades back to the world by exporting oil at subsidized prices. The main question is how long can this game go on. Nobody knows the answer, but it is certain that the oil age will end one day. If the shale oil and gas will last for more that 30 years, then the US Dollar will continue its status as international reserve currency for a long time to come. That gives the US also enough time to revive its manufacturing sector in order to be prepared for the end of the shale oil boom. That is what president Trum is trying to accomplish by introducing tarifs on Chinese and European imports.

    • K.Wayne

      To revive the manufacturing sector you need the Giant American Corporations to “Buy into” that theme. China and India didn’t steal our jobs…. our very own Corporations gave them away via offshoring. Its time for some hard truths.
      Tariffs will not remedy the situation….. merely punish the consumer and the Economy as a whole. Evidence is mounting by the day of the deleterious effects of Tariffs. Wait for the PMI out early this week. It will be a shocker.

  37. AH

    Just a breathtaking interview, Greg. We have followed these stories for years, and Rob ties so many threads together especially concerning the fracking boom and how it has never really been profitable and why it keeps going anyway. AND, he mentions the “missing money.”

    Then he highlights the corruption and a possible nuclear war. We live in very dangerous times.

    Thanks so much.

  38. James Brown

    Greg,
    Thanks for another great interview. I think I like Rob so much because he knows “aboot” the things that are wrong and he helps us avoid the wrong.
    WOW! $21 trillion in petty cash?!?! I need to work at that company (kidding). The U.S. Dollar/economy is the only game in town. The prevailing investment philosophy for all the big money/smart money people, right now, today, is, “where can I put my money and know that at least I’ll get most/all of it back?”. It’s called “Asset Preservation”. These people aren’t thinking about fundamentals, they are thinking, “When the worldwide economies RESET, which one will be left standing? Which one will leave me with the most RELATIVE wealth?” (by “relative wealth” I mean, if a guy has a billion dollars today and, after the reset, he has only a paltry $400 million, that $400 million will purchase the same basket of hard assets that today’s $billion buys – apologies to those of you, smarter than me, that didn’t need that explanation). They are just trying to grab a chair before the music stops. Amongst the major economies, the USA is the best. You can’t achieve “Asset Preservation” in Europe, Japan, China (Argentina, Turkey, ha, ha). The DJIA will be at about 30,000 this time next year. The other major economies will “Crash” first, sending money to the US markets, pushing up DJIA, NASDAQ, S&P. Yes, the markets in the USA will crash, eventually, not just yet.
    For those of you that don’t like my writing style, grammar and punctuation – God Bless You, please don’t tell my Mom, she was an English teacher.
    By the way everybody, I have been sending email messages every week, to the President (I call him “President Don” , because “Don is Right On!”), don’t hate me. All this bashing of “OUR PRESIDENT” is hurting every one of us, every household, economically. Put your politics aside and work to help humanity.

  39. john duffy

    Impeachment Sunday!

    https://market-ticker.org/akcs-www?post=236961

    • Greg Hunter

      John,
      Love Karl Denninger. Smart guy!
      Greg

  40. Roacheforque

    I think that Rob is correct with regard to the overall observation that the US shale fracking industry is, always has been, and always will be, a non-profit, money losing operation. Add to that, Trump’s boasting about the miracle of US energy production and one can see how he’d assume Trump is misguided. But then, being the Crown Prince of bankrupt ventures isn’t necessarily a top resume item for presidential hopefuls (ask Wilbur Ross about it). In the “derivative world” that Rob understands, indeed everything is upside down, because it has to be – to support the dollar.
    I do think that Alasdair MacLeod’s analysis of the specific repo market early warning signal is spot on (as usual) and as pointed out by AndrewB. It was written Friday, just 2 days after my article was written, and I missed it (due to a flurry of other activities) and probably would have never seen it if not for his link above.
    My article, written last Wednesday, is here:
    https://roacheforque.blogspot.com/2019/09/it-has-begun.html

  41. Stan

    Good Lord, Kirby again? This guy needs to wake up and smell the coffee. Our economy is dynamic, robust and growing comfortably. The Dollar will not crash – it will be the world’s reserve currency until at least 2179. Relax and enjoy folks. Keep your Dollars and sell your Gold. Cheers 🙂

    • Greg Hunter

      Stan,
      Says the man who bragged about shorting gold at #1,300 per ounce? Says the man who was long DB at $9 per share.

      • The Queen's Regent

        Why does everyone keep having a go at Stan all the time? This man is offering his free time to advise us financially and asking for nothing in return. You may not agree with his analysis but let’s try to be civil!

        • JC

          Ok “Regent”, how’s this?

          Thank you Stan for wisdom and guidance, I have woken up, smelled the coffee, and have seen the light thanks to you. Finally, I am at peace and can enjoy life and relax. Thank you and God bless!

        • Rodster

          Stan is a troll. I seriously doubt Mr Stan owns any gold, stocks in DB or even a Bentley. Stan is trolling everyone who responds to him. And the only thing Stan has ever “shorted” in his life was his name, Stanley.

          • paul ...

            Rodster … Do you mean the fact that he “shorted” his name from Stanley to Stan means everything about Stan in all departments … is “short”? … or simply that he is shortsighted??

        • paul ...

          Queen … I believe we USAWatchdoggers are being “very civil to Stan” by trying to keep him from shooting himself in the foot … he simply can’t read charts … https://goldswitzerland.com/wp-content/uploads/2019/09/g_eur-600×350.jpg … a great many charts of gold in various currencies (even if you are not a chart expert like Stan) “clearly indicate” that gold is in a major uptrend since 2000 (and the sideways move between 2011 and 2019 is now finished) … the world economy is now just starting to collapse and “real assets” like gold is surging worldwide! … https://goldswitzerland.com/central-banks-have-not-lost-control-they-never-had-it/

          • paul ...

            Just like the fake news media learned from Hitler … Stan probably figures if he tells a lie “often enough” people will believe it … telling us that gold is crashing … even when I put the charts of gold from 72 countries right in front of everyone’s eyes … showing gold making “new all time highs” around the entire planet … people must begin to use the brains God gave them to decipher the truth from evil lies!!!

    • Jerry

      Stan,
      Snore………..ZZZZZ…same ole shtick. Not cool bagging on Rob Kirby. He’s forgot more about making money than you’ll ever know in your lifetime Stanley. You’re such a douche.

      • Stan

        Jerry: I’ll wager you 85k that Gold will be lower 6 months from now. We will have a third party hold the cash.

        • paul ...

          Careful Stan … 85,000 USAWatchdoggers could take that bet by contributing “$1 dollar each” to Greg Hunter “for him to hold” (just in case you are right) and if you are wrong I bet everyone would let Greg keep the entire $170,000 dollars!!

          • paul ...

            Stan … Six months from now is April 1, 2020 … stop with the April Fool’s jokes Stanley!!

        • Jerry

          Stan,
          I would never bet anything with you. You’re a loser Stan. You have nothing but big ideas and a lot of troll time.

  42. Stan

    BTW, this will be an amazing week to short Gold. My timing model is calling for a huge down spike. You Gold Bugs are going to be hurting.

    • Greg Hunter

      Stan,
      Is this the same metrics you used to short gold at $1,300?
      Greg

    • Sir Manly Robinson

      Stan, I am considering investing a small amount in Bitcoin. I would be interested to know your views regarding cryptocurrencies and more specifically Bitcoin. Kind regards.

      • jim

        Sir Manly , You belong in the same padded rubber room as Stan if you are asking for advice from that idiot.

      • paul ...

        I too would like to hear Stan’s bullish views on Bitcoin to confirm he slipped off his rocking chair!!!

      • Stan

        Sir Manly Robinson: Don’t get involved in cryptos. You want a currency? Use the US Dollar. It has appreciated against Gold significantly over the past 10 years.

        • Sir Manly Robinson

          Much appreciated. The US dollar could well prove to be a better investment than the Brexit pound in which my salary is denominated.

        • paul ...

          Well … your not all bad Stan … for a man who understands crypto is a flawed currency I can’t figure why you don’t have the same opinion of the US “paper” dollar? … and why do you ignore all the charts that show that every other “paper currency” in the world is falling against gold???

        • paul ...

          Stan … you must study the charts more carefully … look at the price of gold (blue line) and look at the price of the dollar (orange line) … https://www.macrotrends.net/1335/dollar-vs-gold-comparison-last-ten-years … notice that when the dollar falls (gold rises) … also notice that when the dollar rises (gold goes sideways) … making gold the perfect “buy and hold” investment for all market conditions!!

        • K.Wayne

          ….”the US Dollar. It has appreciated against Gold significantly over the past 10 years”
          What charts or data are you looking at. I think you need to invert the page …… your quoted stat is completely false & mis-leading…..not unlike all the other stuff that comes out of your mouth.

    • Mark James

      Deep State Never Wants 9/11 Truth to be Revealed – Kevin Shipp (Pt #2)
      By Greg Hunter On September 15, 2019 In Political Analysis 181 Comments

      Stan: “I’ll even wager you 25k that Gold & Silver will be lower on Friday than the 09/13/2019 close.”

      Stan, Where is the $25,000 you ‘wagered’ for the week of September the 16th? Both Gold and Silver were UP that week? It is archived right here on USA Watchdog! Time to sell the Bentley you supposedly drive?

      • Stan

        Mark:

        No one responded to my wager. In fact, I have offered many wagers over the past few months. All you Gold bugs are afraid to accept.

        • Mark James

          Well, Stan, I thought sure you would say, “It was just a point I was making…” Instead you are saying, “Well my wager was never accepted.” You are a joke!! I don’t think you have $2,500 to settle that bet…. let alone your anything close to a Bentley…

          And you are presumptuous in thinking I am a “Gold Bug.” Just because I am here watching Greg’s analysis of news doesn’t mean I buy gold.

          You are just a troll, and your comments serve no purpose. You are as inaccurate in your forecasts as half the actively traded mutual fund managers. Maybe you did make other wagers, but I don’t usually read your posts because they are, well, garbage.

          I proved my point. And people here on Greg’s forum are smart enough to know you are a just a troll.

        • paul ...

          Investors don’t gamble Stan … especially when the odds of the dollar falling by 50% is 100% (assuring a double in the price of their gold investment)!!

  43. Donald Canaday

    In year 1934, the Saudi Arabia king met with American President Roosevelt and agreed that when oil is bought and sold that dollar was currency to be used. Fast forward in 2019, eleven oil production Countries as part of Austria OPEC conglomerate and American dollar is how oil is bought and sold on open market.

  44. Merry Piper

    Stunning interview. Thank you Greg and thank you Rob Kirby! “America is hemorrhaging dollars”. Wow. I may have to get out my trusty Martin guitar tonight and sing…. I don’t give a damn about the greenback dollar, I spend it fast as I can….

  45. SkeptiSchism

    A few things, the US isn’t truly energy independent. Shale oil is a light density oil, and US refineries were constructed/designed to handle the sweet crude oil we used to drill, and for Saudi Oil. So we end up importing a lot of oil to blend with our light shale oil.

    Also, these are all the effects of peak oil which isn’t simply we are running out of oil but that the remaining oil is very expensive to extract and due to lower quality more expensive to refine. However, the input costs rise directly with inflation, the more the banks and .gov prints, the more expensive production becomes to the point where oil companies cannot produce a profit.

    These are peak oil effects, but Rob is probably right the US treasury is shadow subsidizing costs.

  46. Bill B

    GREG:
    It would seem to me that if our oil industry was bleeding money as Mr Kirby reports,
    would it not be reflected in the stock market, with everybody bailing on the oil stocks.

  47. Mike R

    (a little off topic of Rob’s excellent analysis……but relevant to today’s most talked about news)…. Impeachment ??? Bring it on !!!

    Here’s what will happen, that few people understand about the impeachment process…
    1. The House can pass articles of impeachment over the objections of the
    Republicans, and refer to the Senate for trial. (ok, you knew that. Simple simon.)

    2. The Senate will conduct a trial. (yep and you know that too.) There will be a vote, and the Republicans will vote unanimously, along with a small number of Democrats, to not convict the President. Legally, it will all be over at that point. (you may not agree, but it doesn’t matter… here’s why)

    3. However, during the trial, and this is what NO ONE (in MSM world) is thinking about right now, the President’s attorneys will have the right to subpoena and question ANYONE THEY WANT.. That is different than the special counsel investigation, which was very one-sided in favor of dems opinions. So, it’s going to during the impeachment trial, (drum roll please) where we FINALLY will be hearing testimony from James Comey, Peter Strzok, Lisa Page, Bruce Ohr, Glenn Simpson, Donna Brazile, Eric Holder, Loretta Lynch, Christopher Steele, Hillary Clinton, John Brennan, James Clapper, and a whole host of other participants in this whole sordid affair of the past 2 + years, and the ensuing cover up activities.

    A lot of dirt will be dug up; a lot of truth will be unveiled. Massive Finger pointing will occur. Deals will start being made, and suddenly, a lot of democrats will start being charged and going to prison.

    All this, because, remember, the President’s team will now, for the first time ever, have the RIGHT to question all of these people under oath – and they will turn on each other. Like rats on a ship. (That in fact is already starting to happen if you watch closely enough.)

    4. Lastly, one more thing will happen, the Senate will not convict the President. Nothing will happen to Trump. Most Americans are clueless about political processes, the law, and the Constitution. Most Americans believe that being impeached results in removal from office. Nope.

    They don’t understand (or totally forgot if they ever knew) that phase 2 is a trial in and BY the Senate, where Trump has zero chance of conviction. Remember, the Senate is controlled by Republicans; they will determine what testimony is allowed — and **everything** will be allowed, including all the nasty from the dems, the FBI, etc and others participating in the previous coup attempts : i.e. DNC collusion with the Clinton campaign to fix the election in favor of Hillary; the creation of the Trump fake dossier; the cover up and destruction of emails that very likely included incriminating information. (that’s why we are seeing all of the investigations now revealing the subpeonas of all the people who RECEIVED emails from Hillary on those ‘private’ (and illegal) servers.

    They will incriminate each other for lying to the FISA court, for spying and wiretapping the Trump campaign, and for colluding with foreign political actors, especially George Soros. After the Senate declines to convict the President, we will have an election, and Trump will win.

    It will be a MASSIVE backlash against democrat petulance, temper tantrums, hypocrisy and dishonesty. Even minorities will vote for Trump, because, for the first time, they will see that democrats have spent 2+ years focused on maintaining their own power, and not doing anything at all about black murders in Chicago, record homelessness in California (possesses 50% of nation’s homeless), opioids and thousands dead, and other important issues that are actually killing people.

    And, we will spend the following four years listening to politicians and pundits claim that the whole impeachment was rigged. Yup. The moronic dems took the seductive bait. Now they get to swallow the jagged edge ‘hook’, and nuclear bomb laced ‘sinker.’

    So let’s move on to impeachment. Bring it Dems !

  48. Ivan

    Revering everything has been the devils way from the beginning. It’s the cross upside down . Right is wrong, good is bad, Jesus is satan.

  49. Christine Taggart

    Just for the record the gas wells in West Virginia are being shut down. I know this for a FACT. We have land down there. Just thought you would like to know.

    • paul ...

      CT … This is why a concerted effort is taking place worldwide to devalue the US dollar as Kirby explained … more expensive gas will keep the companies in business … it’s a National Security Issue (just like the missing $21 Trillion)!!

      • paul ...

        When the National Security of the United States is at stake they will steal $21 Trillion dollars without blinking an eye … Stan “I’ll make a bet with you” … that the US dollar is re-set and devalued by 50% … before the $21 Trillion is ever paid back!!!

        • paul ...

          And … if they do try to pay the $21 Trillion back (after the US dollar re-set devalues it by 50%) … they better fork over $42 Trillion plus interest to call it even!!
          You Know … even thought the Government is keeping the missing $21Trillion a National Security Issue … we American’s should still be getting interest on this money … the “chained” CPI for the coming year is projected to be 1.6% … that means the Government owes us citizens “who’s money was inappropriately taken” $336 Billion dollars in a cost of living adjustment … if paid out equally to every American citizen … this amounts to about $1000 dollars for each man, women and child … it is only fair … all we American citizens get a $1,000 dollar check in the mail this January … rather then the $336 Billion in interest money going into some Deep State “Impeachment Fund” or to pay for the vacation expenses of the entire Bankster Cabal and their immediate families!!

  50. unext

    For whom does the bell toll? It tolls for thee
    By Jim W. Dean, Managing Editor -August 25, 2019
    …from the Association for Defending Victims of Terrorism (ADVT)

    [ Editor’s Note: VT has worked with the ADVT for a number of years, starting after we learned that Iran had 16,000 terror victim families.
    And the worst of that was yet to come. We discovered that the US and Israel supported the Iranian opposition MEK terror cult, which had been responsible for 12,000 of those deaths, including 70 high ranking members of the Islamic Republican Party, along with a Chief Justice.
    https://www.veteranstoday.com/2019/08/25/for-whom-does-the-bell-toll-it-tolls-for-thee/

  51. JC

    Regarding dollars, for those who those who feel there is safety in having “FDIC insured” savings accounts, this is apparently an “illusion”.

    This article about bank insurance by Armstrong is rather frightening. Hope Greg can have Mr. Armstrong speak a little about this the next time he is a USA Watchdog guest.

    “Bank Insurance Clarification – A contagion eliminates all Rules!”

    https://www.armstrongeconomics.com/world-news/banking-crisis/bank-insurance-clarification-a-contagion-eliminates-all-rules/

    • paul jr.

      That article is not as frightening as Armstrong makes it seem. Armstrong brings up the FSLIC and state-run insurance funds. That has nothing to do with the FDIC. The FDIC today is not like the FSLIC was and they definitively are not like a state-run insurance fund. The FDIC has much more power to handle large bank failures and they have basically an unlimited amount of money available, if needed, to cover insured depositors. Did any FDIC insured depositor have to wait months or years to get their money back from a failed institution even during the 2008 financial crisis? The answer is no.

      Also silly Martin Armstrong confuses an IRA account in the bank to a 401k plan. He says that an IRA account would be at risk of having states trying to lobby to take those accounts to manage in order to bail out state pension funds. He is wrong. Not IRA accounts but may be 401k plans which are investment accounts.

      • JC

        “paul jr.” maybe you’re right but what if there is a contagion of such magnitude that all hell breaks out in the world financial system?

        Key words by Armstrong to remember are;

        “A contagion eliminates all rules!”

        • paul jr.

          I am right. If all hell breaks lose in the financial world you will still get your money that is insured. All they got to do is push a button. Now if the U.S. gets nuked or silly Planet X hits the earth etc… then all bets are off.

    • paul ...

      Read above what Armstrong lists as all the dangers of being in the banking system … and then tell me that being outside the banking system (in gold) is not the right thing for me to do!!

      • paul jr.

        And you are free to do that. However I prefer to have some money in the banking system to pay my bills.

    • Diane

      Thanks for posting this JC
      Caution ain’t the word here!
      Yikes

      • paul jr.

        It is not quite like Armstrong says however I am sure you knew about some of the dangers of having money in the bank before this. But of course there are dangers no matter where you have your money even if it is in precious metals.

  52. Jerry

    Important Update.
    A few months ago, a high ranking officer in the military I know, who was retiring in March, was told his retirement was rescheduled to take place in October 2019. Yesterday his wife tearfully told me, he was ordered in for a two year extension of duty. While I can only speculate, it leads me to believe we are on the cusp of some major military activity, either foreign or domestic in the near future? This man has a thirty year career, so it must be pretty serious for them to relinquish on their promise.

    • paul jr.

      I doubt if that is true. More than likely he told his wife that story so he could stay in the military longer against his wife’s wishes.

  53. Lord Ya Ha

    BREAKING SCUTTLEBUTT: London;
    Fox’s Paul Ryan, out within the year?
    Evidence he willfully used Fox, changed election results?
    Possible election tampering charges?
    Whats the motivation behind his outing?
    His efforts to impeach Trump.
    Seem’s it’s either him or the Trumpster

    Trump simply refuse’s Fox’s efforts to be sacrificed on the alter of, and to the Obombster!
    The American people refuse to let their God go, and it aint Obummer!!LOL!
    Take that old Shep!
    https://www.youtube.com/watch?v=ebiK6pU6mI0
    Yes old Shep has a wonderful home alright, Made of Gold, above New YorK.
    Them Yank’s, why we love em, even our resident Yank’s, Winnie, Madonna and Boris!
    Our un-holy Trinity!

    • Hamilton Boozer

      WOW! The deep creep’s must be pretty strong, can smell their creepy ass’s from here to six days and Sundays at bozzer hameys, to be able to take down old Sheppard!
      But Donald Trump taint old Shep. He will kick Thar asses from here to Sunday night Oscar’s!

    • Hamster

      Got Ya!
      And I not John, but Walter!
      OLD SHEPPARD smite THEM!
      https://www.youtube.com/watch?v=OgDVm9tUykw

  54. Justn Observer

    Greg, Interesting point of view from Mr. Kirby…as are others depending on their location around the globe. Much does seem to be tied to ‘energy’ …in one form or another.
    GW seems focused on the deep state’s preoccupation with ‘black market’ corralling the nuclear fuel rod market. using the ‘anti-fossil fuel meme’ to push toward their goal of be the provider of a’SMART METERed’ energy system with the added ‘benefit’ of it being a ‘contol’ mechanism. (So Brzezinski-Kissinger-Soros of them!)
    Other nations having an abundance of fossil fuel wish to get ‘their’ product to market. (Iran, Iraq, Venezuela, the Genie Energy /Golan Heights, Canada Tar Sands, and those countries setting up corridors for pipelines.)
    Other countries have exports and interests in other commodities with some countries having overlapping interests ie. gold, silver, mined metals ie. Switzerland as Mr, Greyerz mentions refines and handles 70% of Gold , Canada has substantial interests in oil and mining, as does other South American countries and Africa.
    All NEED to sell exports to off-set their balance of trade accounts and provide ‘wealth’ for their nations… The U.S. might have and is rightly hoping to do with oil what many other nations do…ie. subsidize there exports to do the same as a means to be ‘less’ dependent on ‘nations that do not like the U.S. too much and have used oil prices as a weapon (OPEC) which currently POTUS is hoping to avoid and keep from being an ‘enforcer’ of the oil spigot for others in Europe more reliant on their ‘neighbors’ (so much for the ‘good fence’ policy?.
    This comes at a time that like other nations, the U.S. the lack of ‘audits’ as to actual PM reserves held on account ….JUST AS….the lack of transparent ‘AUDITS’ of just how much oil is still in the oil fields…as some nations seem to favor ‘slant’ drilling and over taking adjacent territory – ah humm? An why some nation supposedly awash in oil are so headlong for building so many nuclear reactor, like Iran and Saudi Arabia? (Needs for running massive de-salination plants) while others build and fill the sky with old coal fired generation plants as an other nation pays some guys – ah hum, $1.5 Billion paydays for ?
    Then too – since so much is dependent on ‘energy’ = mining, farming, heating …with the latter causing a decided shift due to the weather …which is NOT as apparent over all…but the shift of it from differing regions… some cooler- others warmer – others dryer -others more wet = the irrational none settled- settled argument on ‘climate change’ which is more a shift then change…due to the stupidity of those like Al Gore. and the deliberate obscuration by others while Policy changes have been under way for some time…so as to manage risk and unmanageable alarm and yes, others who wish to take advantage of the ‘cycles’ which I believe Mr. Nenner is trying to get a handle on as to confirmation and implementation of what some nations perceive IS happening cyclically.
    Clearly one can see substantial shifts to ‘needs’ from ‘wants’ , and dramatic reallocations due to the ‘unmanageable’ effects of the sun, its spots, the solar wind disturbance…and the shear magnitude of the size of the sun in relation to the earth and its outbound direction for a time. That causing shifts in ‘needs’ and the production of those ‘needs’ as to locations and access to them…and the stress of the timeline of the shift in relation to the populations.
    We are entering a time of ‘cooperation’ NOT ‘confrontation’ and POTUS Trump is intellectually aware of this…even though the ‘idiots’ and neo-cons can not think past their deeply embedded psychosis and terminally blind philosophy of dealing with reality. I sense this is getting long so will only say…get a map and a protractor…put a circle around how far you would care to travel or expect needs for life to be fulfilled during the ‘current and impending’ climate changes…and possible disruption of delivery systems or sources. Ask yourself…why is Russia’s focus on the Mediterranean ? Why did China build those Ghost cities? What is grown where and where it is now NOT? and where is energy more and NOT? and how much $$$$ is needed to shift from what to where? all while the insurance companies are being overwhelmed the obvious. How many times will people ‘rebuild’ or ‘replant’ until they realize or ‘get’ the message! That said, some would think plucking mangos , avocados drinking margaritas or Mai Thai’s and catching a tan beats the heck out of dancing with a snow shovel… Personally-am thinking those migrating north are going the wrong direction. They might consider reading more Paleo – climatology. Take a bowl with a line around the side, and put a dot on it, fill it to the line – tip the bowl 21degrees as you spin it slowly…is the surface of the water rising or is the dot in rising and lowering in relation to it? Plant two pans sprouts, one with a glow light at the optimal distance…the other at a distance in relation to the sun being 1 million miles further away… THE TIMES – THEY ARE A CHANGING ! and that same TIME for meaningful decisions and CALLS for a possible locations change is running short…or…you can PUT it off… RISK on or RISK off…
    It is 9/30 /2019 – one of my neighbors will be disappointed when the sun comes up, another other will smile . One a gardener the other an elk hunter…it snowed here last night.
    Point being…some too busy talking and running POTUS Trump down…others fear what he MIGHT have to say … and of course those be the swamp creatures that control those dark pools… Life will require energy…which the Creator provided and means to be free like water to all HIS children…but the ‘lessor’ gods/children of the ‘fallen’ angel hope you’d rather subscribe to their meter do they not?
    https://en.wikipedia.org/wiki/John_G._Trump
    https://youtu.be/PwxNTGpM1cQ
    https://youtu.be/KHVXk6mKx_k
    =
    https://electroverse.net/category/crop-loss/
    https://electroverse.net/category/extreme-weather/
    Greg, thoughts on farming from North Carolina: https://youtu.be/GXusAt0EpGA
    Maybe…the next election will be, ‘its the TSI and sunspots or lack of them stupid?’
    https://www.youtube.com/playlist?list=PLHSoxioQtwZcJj_9clLz7Bggso7qg2PDj

  55. Stan

    This ain’t no pullback – it is a crash! And who warned you?

    • paul ...

      There will be no pullback in the dollar … as overnight it can be re-set to crash … and who warned you Stan?

  56. Stan

    Gold following the same pattern as the great crash of 2013.

    • paul ...

      No Stan … gold will follow the same pattern as the great crash of 1929 … after the 1929 stock market crash many investors redeemed paper currency for physical gold … knowing holding physical metal was better then “a paper promise” … as gold prices rose more and more people hoarded the physical precious metal … sending prices even higher … to stem the redemption of physical gold it took a Presidential Order “to outlawed private ownership of gold” … which the majority of people had the God given good sense to ignore!!

  57. Justin

    I need a little more information to understand this.

    By what means are these unwanted dollars financing money losing projects? Please expound more about how this “soaking up” works.

    If every barrel is being sold at a loss, then why would the producers continue to do that?

    Are they receiving subsidies? Are they getting loans and running up massive debt?

  58. Your Brothers

    Thank You Donald Trump!
    From us whose grandparents stuck it out in this, in reality a southern city, in the heart of the Mid-west and yes we proudly acknowledge our smattering of eastern European blood!
    https://www.youtube.com/watch?v=6G4bxA2Gfnc
    Were a great mixture up here in Detroit and were back and we like your promise to keep America great. Were with you in all you do and the thin blue line is still blue, but always for you!!
    You’ll never know how much we love you for all you do for our great country and UAW!!!!!!

  59. Matt

    If Mr. Kirby’s insights regarding the U.S. oil fracking/shale industry and the stove piping of excessive dollars at a net loss are true, this is extremely troubling and another jab in the gut to those Americans praying for a return to honest money. Greg, maybe this is a reason to strongly consider investigating alternatives to oil. It is, after all, the “Petro Dollar” and how ironic the U.S. government is using this very industry to further manipulate the true value of the dollar on the world’s currency stage.
    I am sick and tired of the decades of currency manipulation. At this point, I would settle for all the hardships born from dollar fiat’s death. I rather live closer to economic honesty than another day in this perverted, distorted, global economic circus.

  60. H. Craig Bradley

    NOT A CHANCE

    https://www.youtube.com/watch?v=rHM49Lc2-so

    Von Trap has been talking $10,000 an ounce gold for the past three years. Not ever going to happen. Dream on. If his clients believe that, well fine. I do not. Neither does economist Martin A. Armstrong, based on his blogs. $5,000/ounce tops and sure not now. Maybe after 2030 A.D.

  61. john

    ohhh thats so wrong,
    ask armstrong martin 70%of the dollar are outside of amerika .
    everybody wanna have dollar becouse its the save haven.

  62. JC

    I don’t know about this dollar rejection concept.
    The euro peaked in 2008 at 1.47 and it’s been all downhill from there.
    At the moment it is 1.09. Seems that Martin Armstrong has been right about dollar strength. It seems there is strong demand for dollars overseas.

    Look at this historical annual chart of the Euro/Dollar exchange rate.

    https://www.macrotrends.net/2548/euro-dollar-exchange-rate-historical-chart

    • Gary C

      John, I would NEVER bet against Armstrong, as I subscribe to Socrates, and he is deadly accurate.
      As of today he warned of the need for dollars, as all other currencies are in the shithouse.

      There will be extreme volatility going forward, like we have never seen before in all
      global stock markets.

  63. tim mcgraw

    The Federal Reserve is dumping over $100 billion per day to 24 special secret banks to keep the REPO market solvent.
    Chaos is on the way. Gold may help, but you better have skills, health, and resilience to survive.

    • mike r

      its back down below $50 billion, and going to near zero. end of quarter tax payments.

  64. Justn Observer

    Greg,
    Much more clarity as the ‘clouds’ clear…thinking Panic – Desperation is closer to Hysteria? … the meda-data does not support ‘their’ claims…and POTUS with this meta data/ research can win this…’their’ fear is not just impeachment failure but the exposure of endless years of criminality by many… massive drug dealing/weapons and theft of nuclear secrets, material, an extravaganza of selling out of the U.S. !
    https://youtu.be/PyHK6rGaZhU
    https://youtu.be/KjujUhbrgpg
    https://brassballs.blog/
    https://brassballs.blog/home/cia-and-fbi-and-hillary-clinton-use-crowdstrike-software-to-tap-and-collect-and-sell-surveillance-information
    https://brassballs.blog/home/are-checks-from-dnc-to-fbi-contractor-crowdstrike-connected-to-murders-of-seth-rich-and-shawn-lucas-question-mark
    RUDY —ARE YOU LISTENING? PEOPLE NEED TO TWEET THESE TO TRUMP and email these links to their FED. and State government officials and demand action…!
    The MSM is mockingbird….they will NOT cover this…it is up to POTUS Trump supporters to spread the info- share the links. Sitting quietly in a closet and praying is ok for sure…but so is helping expand the awareness for a possible just and peaceful outcome…

  65. Thomas Blow

    Greg,
    You are one of the few who go beyond what is happening and ask what the endgame is.
    Bix also asked this question (https://youtu.be/JjOEdc65QzE) and provided his opinions but he is a crypto bug and IMO we may get better answers from Fitts and Holter.
    I want to quote my reply to his video, though, there are ideas to explore with F&H or your other sources. (no need to post this but okay if you want to.)

  66. Gina M Mancarella

    We’ve got the goods on Trump now !!!!!!

    • Greg Hunter

      Gina,
      Yeah and you said everybody “will Bow down to Hillary, she will be president”!! You mean like that?
      Greg

      • Homey Comey

        Greg,
        They all have to bow down now, like that and get it, where it hoit’s, da moist!!!!!Even Fredo is gobsmacked!!
        Like Mr. T. use sta say, “I pity the fool’s!”
        Greg, this is like watching the Titanic sinking!
        WOW, we brought these fools out, here on USAWatchdog.com! “Gina Treadhead, ad infinitum ad nauseam” We baited them and then their own inflated ego’s brought them down to their own just desserts, to now, to get their slimy necks rung at the hands of an angry populace. The great smelly, Wal-Mart down home folks.
        Parting is such sweet sorrow, GOOD RIDDANCE, Gin’er and all your ilk! As Dr. Dave Janda say’s, at least enjoy the ride!LOL!
        P.S. Hope this got you fightin mad, because your MAD!
        https://www.youtube.com/watch?v=64afy1vbSqs

    • Uncommon Sense

      Haven’t you heard? Trump supports communism. Just complimented the Chinese on 70 years of communist rule. Makes sense why he wants a centrally planned economy. Didn’t he used to be a Democrat?

      • Greg Hunter

        Un,
        You are being stupid here. Trump supports the U.S. Constitution and all the Amendments. That is a stone cold fact. Congratulating China on a 70 year anniversary is really not the same thing. It is a PR move with a tight trade negotiation going I have not been posting your comment on this communism angle because it is really dumb and mean spirited. Trump is such a communist he’s putting tariffs on China and stopping Huawei. I could go on.
        Greg

        • Uncommon Sense

          Well I guess Mannarino is dumb as well then as it was in his video. Trump is supporting a Communist centrally planned economy by egging on the Fed to take more aggressive action. Trump obviously is against free markets and prefers a centrally planned economy. It is the ugly truth and everything else is window dressing.

    • Mike R

      Hey Gina – 3 people directly, and nefariously tied to Ukraine, are 1) Pelosi, 2) Schiff, and 3) Biden. All 3 are highly compromised people, and hence you have the impeachment false flag, designed to cover up coup. certain bad actors from the CIA has these people highly compromised and “HAS THE GOODS on Them.” Schiff, ran a pedo ring in LA, and he was Campaign funded (illegally so) by corrupt Ukrainian oligarchs, who are also tied to Nancy Pelosi. Pelosi has a ‘ukrainian’ aide, who happens to be a foreign spy. Biden and of course his very stupid son Hunter, are highly compromised as well. All 3 have a deep personal incentive to institute the impeachment process, and all 3 were VERY panicky, when Trump did that phone call, which also was intentionally leaked to a corrupt CIA agent, to set up this trap for these highly compromised people, and the dems in general. Trump was INTENTIONALLY right over the target, and Pelosi and Schiff in particular were crapping their drawers, as they KNEW Trump had the goods on them, just like the corrupt actors in the CIA did who was using them to attempt this coup, covered up by an ‘impeachment’ false flag process. its not all of CIA, just some treasonous rogues. Trump has military intelligence and backing, that blows away anything the CIA has, and by comparison, the CIA and most of them are 3rd party contractors, are literal hacks at what they do. Many foreign intelligence operations also blow away what the CIA can do, so those operations are very likely cooperating with our military to PROTECT THE PRESIDENT and PROTECT AMERICAN CITIZENS.

      People in this country dont get any of this stuff, and are very naive when it comes to how our country is designed with protections, whereby, the President is FAR MORE important, than the congress is, and congress could actually be dissolved instantaneously, using the INTERNATIONAL EMERGENCY ECONOMIC POWERS ACT. Many people can be (and have been) compromised in our congress by corrupt corporations, and corrupt foreign influences, and unfortunately many of them at this very time, are highly corrupted on the demoncratic side of the fence, including Pelosi, Schiff, Schumer, Maxine, Tlaib, and AOC, along with many others. The Clintons especially fostered foreign corruption via their Clinton Foundation, which Barr is hot on the trail of blowing that wide open, which implicates a significant chunk of the House side of demoncratic congress, of which the Clintons have compromised as well, which is how they got to be so powerful, using billions of foreign dollars to essentially completely sell out American citizens, and sell out a lot of our congress, to foreign influences. If it looks like our congress people on the Dem side were actually against Americans, its because they are, and were compromised, and acting on behalf of corrupt foreign influences. They try to play this game of blaming Trump of the things they are actually guilty of, precisely because he is not one of them, has not been compromised, and is actually FOR the American people. He keeps hitting too close to home, and many of them are deathly afraid he will most certainly expose them, so they are very desperate to oust him any way they can. Any coup by corrupt CIA outsiders (Like Brennan) and treasonous insiders, will not be successful. Any impeachment process will end up with a lot of people heading to prison, and pretty much the implosion of the demoncratic party. This is why you have seen the GOP stand aside very quietly through a lot of this almost appearing to let Trump take all the blame, while Trump actually takes this head on, and many people work in the background, that are on his side. The military has Trump’s back, and the American peoples back. They will take out the crooks in the CIA, and the crooks amongst those compromised people in congress. Brennan was full of himself, and full of crap, and blowing hard when he said, the CIA can take Trump out 6 ways to sunday. Nope. Aint gonna happen. Our own military could easily take out the entire CIA, and FBI, and anyone else acting against the President, who was elected by the AMERICAN People. Sorry, but they dont protect treasonous losers and also rans like Hillary Corrupt Clinton.

  67. Justn Observer

    Greg,
    Considering the interview with Mr.Kirby and LPG … shows that to be a sector that IS bucking the trend of the indexs. What the Brexit and CMUSA trade agreement and other mutual agreements Trump is working on adds remains the question…but his analysis appears to be above and moving across water nicely…

  68. Justn Observer

    https://youtu.be/L6xgD6s26Ro

    • Greg Hunter

      Justn,
      Are you really George Webb? If you are please post under your real name.
      Greg

  69. Rick K.

    Here’s the plan for the monetary system …
    http://www3.weforum.org/docs/WEF_Global_Future_Council_Financial_Monetary_Systems_report_2018.pdf
    And China is the model for Global governance. FF to 08:00 to here Klaus declare China will be #1… https://www.youtube.com/watch?v=QPhBk1UqFpo
    Trump is calling for lower interest rates and dollar devaluation. The FED is loving that because the more debt that is issued (out of thin air) against collateral that can be claimed upon default, the more power the central banks have.

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