Economy Has Not Recovered-John Williams

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

Renowned economist John Williams says forget the happy talk about the so-called “recovery”—it ain’t happening.  Williams contends, “I wish I could say things are booming, but indeed they are not. . . . The GDP in the last three quarters, if you believe what they put out, is the strongest economic growth seen in more than a decade.  That’s not the common experience. . . . The consumer is in terrible liquidity straights. . . . The reality is the economy has not recovered.” 

Williams goes on to say, “In the fourth quarter in November and December, the traditional holiday season was the worst Christmas shopping season since the economic collapse in 2008.  January (2015) is off to an even worse start.  It looks like the first quarter is going to contract before and after adjusted for inflation, and that is very bad news. . . . You got retail sales, industrial production that’s going to be weak, and the housing sales numbers have never recovered . . . Any measure you look at is still well below coming into the recession, and again that’s tied to the consumer’s liquidity.”

So, why does America seem to be doing much better than the rest of the world?  Williams explains, “What’s been at work here is the perception that the U.S. economy is recovering, and the Fed doesn’t need to provide any more quantitative easing (money printing).  The dollar has strengthened, and as you see, our major trading partners moved towards quantitative easing because of the recessions they have.  Well, guess what?  We have the same problems as our trading partners.  We are still in recession.  They just do the numbers a little more honestly.  We’re not done with quantitate easing. . .   As it becomes clear that the U.S. economy is still in recession, or a renewed recession, the speculation will come back that the Fed has to renew its quantitative easing or expand it . . . that will hit the dollar very hard.  As the dollar sells off, you are going to find oil prices spiking a new, inflation spiking a new and eventually the rest of the world will dump the dollar.”

Williams goes on to say, “The underlying fundamentals for the dollar just could not be worse.  Fiscal conditions have not improved.  Deficit numbers last year were small according to headline numbers, but if you look at it with generally accepted accounting principles, it was still about $6 trillion . . . per year.

Williams called for the beginning of hyperinflation sometime in 2014 but has now revised that prediction to 2015.  Williams says you will know hyperinflation is starting by watching the dollar.  Williams says, “The first stage of it will be a reversal of the dollar.  We are not going to have hyperinflation until you see a massive decline of the dollar.  That will start the process.  You will see the flight from the dollar, and the Fed is going to have to absorb them.  That will be the trigger for the money supply growth within the system which will exacerbate the inflationary problem and the deficit problem and the funding problems.”

Williams says the Fed has given a false sense of security but did not fix the problems that led to the last meltdown.  Williams warns, “People say everything is fine again—nonsense.  You had a panic in 2008. . . . The system was on the brink of collapse.  The Fed and the federal government did everything in their power to prevent it.  They pushed things into the future, but they didn’t do anything of substance to address the underlying problems.”  So, are we going to have another panic?  Williams says, “Yes, and that is the type of thing that can break at any time, and you just don’t have the options you had in 2008 for buying time into the future.”  Williams adds, “The odds are high you are going to see the beginnings of hyperinflation this year.”

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

(There is much more in the video interview.)

After the Interview:

There is free information on the home page of  You also can buy a paid subscription to John Williams’ detailed reports by clicking here.


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  1. mushroom

    Wonderful interview. This is exactly what I need to plan for the future.

    • S

      Any chance to get the Academic Economist, Steve Keen, on the show?

  2. allen ols


    ………..Even the goldbugs are lost in their desperate attempt to keep up the good talk. They are lost in their domestic analysis of money supply and think gold is declining because there is some robust US economic recovery. They fail to grasp that the ONLY reason gold will EVER rise is not due to inflation, but a collapse in confidence. That is a significant difference. They hate to listen but look, the national debt was $1 trillion in 1980 and it now is approach $18 trillion. Gold was $875 and it is trading at $1230. The Dow Jones Industrial were at 1,000 in 1980 and are trading at 18019. I think waiting for 35 years to make a profit is just crazy. These people keep fighting everything and the entire world is wrong – never them.

    • Jeff

      Allen I call propaganda BS with a lot ignorance to boot…….. Convenient how you pick and chose your time lines. One timeline for gold, one timeline for the Dow. Why didn’t you start at the 1970 timeline when gold was $35 ? Why not start at the turn of the decade for comparison ? 15 years is a good time frame……. In 15 yrs the Dow rose @ 50%. In inflation terms it’s down……. It’s down even though the manipulators continue to pull major Dow components (the great companies that used to run our country gone broke) and replace them with new “improved” companies. So, like everything else the gov does, what the Dow really represents is a continually, massaged and improved collection of companies. Yea, just more lies…………. Gold, on the other hand is up @ 400% in that timeline. That’s after @ a 50% drop…….. You know the ‘ol story, timing is everything………If you don’t like my timeline then maybe go back to 1970 when gold was allowed to rise from $35…… Let’s see… $35 to present day $1225……

      • Al hall


    • Al hall

      Allen- the numbers you state are true. But, The Dow now I believe is made up of totally different member companies. The companies of the 1980’s are gone- out of business, or crappy companies now. If they were the same companies it would be a far different Dow number- not 18,000.
      Then, you add in inflation of 35 years to the manipulated Dow number- lower still..
      It’s all a fake game on those who look at that crazy Dow number. The markets are all rigged, to include GOLD/ SILVER.
      My elite friend told me decades ago.= Gold and silver is the only real money- it’s the money we recognize!! Said get out of anything paper- and I did! He told me to get out of the markets before the crash in’08. he knows what’s going on!!
      While the federal reserve bad mouths gold, tells us it crap. They are buy it hand over fist. As John Williams said- ” they know what’s happening”. And they are getting ready!— Are you? I’m ready!

    • allen ols

      Jeff, al hall, and others,

      This is a a quote from Martin Armstrong, 🙂 check the link below the paragraph, I actually have no clue what your talking about, or what he is talking about, but I smiled when I posted it and said “this will open a can of worms. lol

      • Jeff

        Allen I was quite aware you were using other peoples words. It goes on a lot around here……. You’re right about one thing though……like you said, quote ” I actually have no clue what your talking about, or what he is talking about.” …………… If you don’t mind next time just cut/paste the article and tell me what YOU THINK….. That is, when you figure out what you’re talking about (nice out).

        • allen ols

          what did i do ; wander into nazi germany? I think i will post what i want too, the way I want to, and u post what u want to ok 🙂

      • OzFan

        Lmao @ Martin Armstrong….he’s such the gold bear yet did 11 years for contempt of court for refusing to disclose the millions he stole in gold from his client.

        You need to do your homework Allen because you failed big time.

        Where’s the gold Marty? Lol

    • Sid

      I find the works of Martin Armstrong very intriguing, especially his Economic Confidence Model. But I don’t know why he is blind to the blatant manipulations of the markets (not just precious metals). After all where would the markets be without the QE programs, or the Libor riggings, or flash trading or the Plunge Protection Team.

      As for gold, didn’t Mr. Armstrong see this recent headline?

      That said, Martin Armstrong is predicting the turn for gold may come in 2016.
      Interestingly, this parallels the views of investor Jim Rogers, who called the gold top in 2011 and anticipates a buying opportunity in the next year or two.

      • Jeff

        Sid The problem is no one’s right all the time. So like picking and choosing your “timeframe” , following someone because they got it right once (or twice) could also be detrimental to your pocket book…… I’m pretty sure I read where Armstrong’s forecasts have been wrong (someone here set me straight). I know for a fact Rogers has been very wrong on many calls (short technology, long sugar, long China market). ………….. Long story, short, the market is a difficult beast and we ultimately make our own decisions…………btw, anyone who can’t admit the markets are rigged are on drugs.

    • Timmy

      True, gold has gone up a little bit and the stock market has gone up a lot. That being said and understood, I still lost more money in the stock market for some reason. It’s like a casino.

      1000 to 18000 sounds like a win, in theory. In practice everyone loses their shirts if they don’t know exactly what they are doing. It’s not free money by any means.

      If the MF Global investors had gold coins instead they’d be better off.

      It’s not that easy this investing game. What is easy is buying a few gold coins and forgetting about them.

    • UKTramp

      He finishes by saying that confidence will burn. You didnt include the last paragraph.

      “Gold remains under pressure as the dollar rises. The US share market is not ready to collapse because as the world turns more nutso, the dollar remains the only game in town. This is never about money supply. It is about CONFIDENCE. As the ECM turns down, then you will see the US economy go with it and CONFIDENCE will crash and burn.”

      Since he says gold will go up only when confidence crashes and then goes on to say confidence will collapse then surely he is saying gold will go up. Not that I pay attention to Martin Armstrong………….

  3. paul

    There are more people in America today working in “retail” then in any other category (for wages close to the minimum wage) … and this is what the government planned for us when they began to offshore our good high paying American jobs to China.

    Now to make the American employment numbers “look like” they are growing … the government will have to provide incentive for people to hold six(6) jobs each [instead of just three(3)].

    According to John William’s 2015 is now showing “the weakest absolute start” to the year since 2009 … and just what will the American government do when the retail sector of the economy beings to have some serious trouble … because sales of “rose-colored” glasses begins to drop off?

    • David

      i dont understand why armstrong thinks nobody will lose confidence in the US$. debt going from 1-18 trillion doesnt inspire much confidence. If it wasnt for the US military destroying countries that try to step out of line the dollar would be toast already.

  4. Solomon


    Thank you for having Mr. Williams on again. His input and commentary is ALWAYS a most honest and value resource. Great job. Short, not sweet, honest, and to the point. What a value you provide to those of us who are interested in the truth. The true power that IS knew that you where not to retire at CNN. Thank you again for the great and honest service that you provide.


    • Greg Hunter

      You are vey kind Solomon, thank you.

  5. John Q

    what happens to people with Student Loans? Is it better to pay them off before hyperinflation or after?
    Please advise.

    • Greg Hunter

      John Q,
      The government may allow you to work them off but rest assured all loans will ultimately be re-priced in a new currency. Of course I do not know this for sure it is my humble opinion.


      • John Q

        Thanks for the quick reply Greg!
        Thats great to know. I think I’ll pay them off as soon as I can so i’m not a slave to my loans.

        thanks again.

        • Greg Hunter

          By the way, it’s not just me saying that either. I first heard they will re due the loans in a new currency from Jim Sinclair.

          • Charles H.


            The Banks always win. Mexico borrowed Billions, from the US, to build housing in Mexico through Mexican Banks. When the Peso was devalued (1994-ish?) – the Banks, who had to pay-back their loans in Dollars, had to pay with more Pesos – which was passed-on to the mortgage holders. Payments were doubled and tripled. Consequently, a great part of the Housing Market was repossessed. When the Swiss Franc de-pegged the Euro, all loans to other currencies now have to pay more in return. If the Dollar is replaced – I feel quite sure that those who borrowed will have to make-up the difference, or lose their equity.

            • paul

              There is another way for John to play his student and other loans … and that is to simply put the “extra payment money” into silver instead of paying down the loan faster … because in any “re-set” (although the loan amount might “double” in the new currency re-set) silver could rise by more then ten(10) times … and in addition there is always a small chance of a “loan forgiveness Jubilee” (as mentioned in the Bible).

              • Jeff

                John I completely agree with Paul on both counts (fwiw)…… My first thought was what if Nobama goes thru with his student loan forgiveness scheme ? The king will do anything to buy a vote. And Paul’s silver idea has a lot of merit. At least you would have the silver protection in your pocket. If there’s a reset tell the scums in DC to stick it. They’ll just waste it on bombs and banks anyway.

                • Jeff

                  I once asked Sinclair for his advice on choosing between having a loan or having some gold. He told me to get the loan. So he also agrees with Paul.

    • Al hall

      John: When the dollar collapses- other countries won’t take dollars anymore. Many won’t take it now!
      The government has a new treasury dollar already printed. We’ll have to trade in the old dollars for the new USA only crap dollar. When this happens- the trade will be approx. – trade in $10 old and only get $7 new. A 30% haircut- instant inflation. I hear over time the haircut will be 400% inflation. What cost $10. then will end up costing
      The elite’s have you right by the ba–s, as they have planned!! Gold / silvver is one of your only hopes.

      • andyb

        For 3 years now, I have maintained that the USD will be devalued at least 30%, most likely before the end of this year. The announcement will be a Friday afternoon dump after the market closing. By the next Monday, gold will be at least $1600; unfortunately, you won’t be able to find any at the $1600 price. The lack of confidence globally in the USD will cause another devaluation of at least 30%. Gold will jump to $5000 will no bids. Things to monitor carefully: the USDX and the Euro— if the USDX hits 100 (or close) and/or the Euro hits par (or close) against the USD, that will be the signal for the start of the devaluations.

        • Silence is Golden

          I think you are fairly close to the mark there.
          My calculations show an end of summer peak for the DXY. From there she is in freefall and the BEAR market in the dollar will show its ugly teeth. It will indeed be accompanied by the devaluation process and the revaluation of Gold.
          Interesting article I read yesterday about the noise coming from the BIG Banks in client advices and letters….. on how bad things really are and that caution (in lieu of risks) should be taken at this time. Salient point made was that they did the same thing just before 2008/09 crisis. I strongly believe they know what’s about to unfold and don’t want to be seen as NOT making it fully communicated. Hard to see the truth in anything they have said previously….but this time it is starting to resonate with a lot of the things that not only myself believe to be true, but well respected people in the industry are saying individually and collectively.
          If you haven’t booked your ticket out of Dodge….now might be your last chance.

  6. kevin

    I wont argue that our economic situtaion is dire but this guy depends on spewing doomsday to make a profit….all these experts have zero clue on how and when the next financial malay will occur. They are all leeching off a common theme…..No way can anybody predict the billions of possible scenarios that occur in the global economy at any given moment.

    If everyone starts dumping the dollar? Where are they gonna go? If hyperinflation occurs in the US? The whole entire globe is FUBAR!

    • Greg Hunter

      No, economist John Williams does most certainly NOT “depend on spewing doomsday to make a profit.” Mr. Williams sells accurate information to multi-billion dollar hedge funds and multi-national corporations. (His client list is secret.) Mr. Williams is not paid for a negative forecasts, but for accurate ones. You would best be served taking this free information and analysis and applying it to try to shield yourself from the coming calamity this is surely coming. I don’t appreciate your disrespectful tone especially from someone who has never commented before. It smacks of a paid troll comment.

      • Mike

        Anyone that dismisses what Mr. Williams says is likely going to be uninformed and in great peril at some point in the not very distant future.

        When it comes to real data, Mr. Williams is the best.imho

    • Al hall

      And, you will be part of that group wishing they had listened.. Prepare for the worst now while you can. We may not know when- but it is coming. My elite friend in saying about mid-Sept 2015. A lot of crazy crap is planned now for September.
      Pope for the first time every address joint-session of Congress- being kept quiet now.
      Asteroid coming to hit Atlantic Ocean- not many know this yet.

      Who says people are kept in the dark?? It’s all in who you know!!

      • Rick Perkins

        A similar, more easily remembered thought:

        Destiny finds those who listen,
        and fate finds the rest.
        So learn what you can learn,
        do what you can do,
        and never give up hope.
        – Marshall Masters

        • a

          Rick: that a good phrase- and I do listen to Marshall Masters- also Bob Fletcher- both are saying along with my black-ops scientist friend that Nibiru is approaching. Nibiru will be trailing massive amounts of junk rocks behind it as it passes Earth twice, inbound and outbound.
          Marshall does not talk about the asteroid coming in about 6-7 months expected to hit near P. Rico. NASA scientist told my CIA friend about this. He said a minimum of 30 million will die in USA alone. 400 Foot tidal wave to hit US east coast and gulf coast.

      • paul

        Yes … the asteroid supposedly will strike the Atlantic near England … but don’t worry until you begin to see massive meteor showers that according to the Bible (Revelation 6, Verse 12) will arrive first!

    • Jim

      Timing is difficult. However anyone with business/finance and knowledge of accounting knows our current path will not yield a favorable future. Many thought the deficit spending/financial rigging would collapse long ago. The powers that be have jerked money and finance around to allow unacceptable behaviors on a lot of levels in this country, and it continues as we “go for broke.” Like the mainspring in a watch you can only wind it so tight till it breaks flying apart. Than a mess of biblical proportions will ensue for many. Like boy scouts I think we should all try to prepare. It may all happen in a way we don’t anticipate but somehow on the backs of the people the ledgers will be balanced.

  7. Tim

    As much as I like and respect John Williams, he should stop making predictions for hyperinflation as he has been wrong for the past several years. Will we eventually see hyperinflation of the U.S. Dollar? I don’t know. I don’t know what to believe anymore. During the dept of the last financial crisis I moved much of my life savings into precious metals, and lately I’ve been questioning that decision. Right now my PMs are worth much, much less than I paid for them. I wish I had put my money into something else (e.g. real estate).

    • Greg Hunter

      Are you trading, or, are you getting ready for a financial calamity the likes of which the world has never seen? If you are trading, then, you f’d up. If you are getting ready and shielding yourself and your family from a one in every 6,000 year financial calamity, then you are in fine shape.

      • Tim

        I’ve never been a trader, Greg. I bought PMs in order to protect the wealth that I worked so hard for. And it’s not much. I’m not a man of means.

        I’m just tired of the manipulation of the financial markets, particularly the precious metals markets. We don’t know how long it will continue. Maybe we really don’t understand it.

        • Greg Hunter

          Tim there is an old saying and that is “There are three things than cannot stay hidden, The moon the sun and the truth. The true health and wealth of this global economy is going to be revealed. Stay prepared my friend.

          • Mike

            Yes Tim. In the end you actually are as prepared as one can be.

            Yes, I too could have made more gains the last few years had I stayed in the manipulated equities.

            I chose not to and yes I am taking lots of heat from those that say I am wrong believing in PMs.

            The past is the past. The future is going to get ugly and when it does your PMs will provide you with REAL value and possibly a glimmer of hope.

            Stay the course.

        • West Tejas

          Tim, why do you complain about the manipulation? It’s kept the U.S. in decent shape given the outcome of countries like Venezuela, Argentina, Ukraine, Greece, Spain, Cyprus, Russia, etc. While I don’t like nor agree with manipulation its bought everyone in the U.S. and Europe precious time.
          But don’t worry I believe its coming to an end shortly. In a couple years everyone will look back and call these the golden times, so enjoy them while they last. What most don’t understand is their little stack of gold and silver will last a few months and then they will get to experience the true wrath of hyperinflation along with everyone else. Unless you have a massive amount of money to invest in precious metals, food and a safe place it’s all but guaranteed you’re not going to enjoy the upcoming financial debacle.

        • Charles H.


          I also, am not a man of means. I translated a CD to gold when interest rates headed below 4%. I translated the greater part of a cancelled Insurance Policy – a self-sustaining and self-paying one, because one Guest spoke strongly about not waiting. I’ve “lost” HALF that value, compared to what can be bought now. Would I rather have a bunch more for waiting? Absolutely! But I got what I got; I rolled the dice at the time – and I’ve lost, compared to now.
          Do what you can; take your lumps. and stay the course. No one knows what will make the difference in the future.

        • Rich

          @ Tim,

          I feel your pain. I think most of us do.

          However, we really have not lost anything. The measuring stick we are using and have been taught to use our entire lives is broken.

          The key, at least in my opinion, is to measure against other real assets. And not the broken dollar. For example, here where I live a person could buy a working farm with all mineral rights, etc. for around 5 ounces of silver per acre while we were still on the silver standard. We will again, someday be able to trade 5 ounces of silver for an acre of good farmland. Regardless of what the broken dollar is telling us.

          Anyway, it is a difficult transition getting away from measuring everything in dollars. But we must learn this type of thinking in order to win the war.

          Hope this helps,
          Blessings Rich

        • Terry

          Tim, You DID protect your wealth,even if your timing was bad. I may be wrong, but I believe a golden opportunity exists right now. This is the 3rd time in my life [57] I’ve seen it. We have a chance to get in at the bottom. As in the past, 1140 is the “new” 240.
          Markets have been manipulated since the days when a sturdy wife might cost you 3 wolf pelts. A real honey might cost you 4. Taking down an ice age wolf with a sharp stick was risky and that pelt represented the value of that work. Then of course some asshole Cro Magnon “businessman” thought “Why don’t I just raise wolves from pups?”and the wolf pelt market went to hell in a handbasket. Now, a “sturdy” wife was 10 pelts and a “One Million BC” Raquel Welch type was 25! So you see, your gold is not wolf pelts, it’s a scantily clad in squirrel skins, spear throwing wife! Stock up while they are still a bargain!
          Of course if you believe obama and his minions of Gruberesque economists, all is well and you should just sell your gold low and “invest” in the stock market. Me, I know little about economics, but I don’t believe proven liars.
          I would buy more to equalize your “buy at the top” strategy and keep doing whatever it is that got you this far in life. That way, instead of dying in a knife fight over a road killed possum, you will still live in a house and drive a car and feed your family. Just the fact that you realize there’s a problem ahead puts you ahead of the game. Double down and stay the course. Just my opinion.

          • Terry

            At the other end of the “metal” spectrum, junk car bodies are $20.00[that’s right, TWENTY] a TON! So if they dock you $5 a tire[they do] that means you have to PAY to get rid of what has always been a resource in big demand for worldwide manufacturing. That is the REAL measure of a dustbowl economy. Worldwide.
            During the last “crisis” when obamas “cash for clunkers” program ruined my business, the price for scrap metal shot up and I adapted by going into that business for awhile. A 72 Chevy dump truck and a 48 Ford loader on a trailer. I bought stuff from area farmers that had been “in the trees” since the Great Depression, for fifty cents on the dollar. Old farm equipment. Steel, iron, copper, aluminum. All at all time highs. Gold and silver were also at “all time highs”. So put that together. Forget about the bankers and asteroids and look at what is in front of you. $20. a ton IF you strip the tires off and pay $4. each to get rid of them. Is gold low?

    • Al hall

      Tim- Please don’t blame John W. It’s always a best guess. The elite bankster have changed the time line many times for the collapse. My elite friend told me the collapse would happen 2-3 years ago. They did not expect Russia to stop them in the over throw of Syria. He then said as they work this out as time goes forward, they would put people into as much debt as possible. Obama was selected by them to be President to collapse this country- his crazy spending adds on to all of our debt. ISIS was a CIA created group formed to take down Syria, and create more fear around the world. They want people in fear-always.

      Please- see this very short video. Remember as you watch and listen- In 1974, Dr. Carol Rosin was warned by Dr. Wernher von Braun about a series of events that will happen in the near future, all of which WILL BE BASED ON LIES . The ‘Last Card’ that remains is an extraterrestrial invasion. But remember the year, and the meeting she attends. They speak of wars coming to the middle east, terrorist by name. BUT, this info was plans for the future. They happen much later in the future- now in the past,
      The elite’s plan that far ahead.
      My friend has told me – when Saudi Arabia is attacked by terrorist the collapse will be near. I’m hearing now that ISIS is now inside S. Arabia in small groups. Time is near!!
      In order, Dr. von Braun warned of the following:
      Russia and the Cold War
      3rd World Countries / Rogue Nations / Nations of Concern
      Extraterrestrial Threat <> click for video

    • Mike Soon Over

      Tim, I do OK but by know means a big shoot just a blue collar guy in a fine trade. Let me guess and say most everyone here on WD makes 2 to 10 times the money I do. However, I have not once regretted buying Silver or Gold at a higher price than what it lists today. I recall the late 90s and early 2000s it being really cheap. I recall buying Morgan and Peace Dollars for as low as 6 or 8 bucks each and junk silver at 3 or 4 times face. But more importantly I recall selling SLV in April of 2011 for $50 a oz as I had at felling we hit the top of the mark for that time. (I got lucky) I’ve been in the coin market/dealer for 20 plus years doing local shows and selling out of Coin World and Numismatic News. Iv’e met many fine and well educated people over the years but the real wake up call came in 2005 when many of us talked about the National Debt hitting 5 Trillion. I don’t understand much about Derivatives and or the World markets though I do know some on the dirty game of Banking. So in 2005 a 5 trillion dollar debt today in 2015 18.2 trillion and when Obama leaves 20 trillion, that’s not to mention Unfunded liabilities. It seems to this GED blue collar guy time is just about up. MSM and the State Ran TV is doing someones bidding and the game will soon be over. Finally, the point I wanted to make is $50 a oz silver will equal pennies on the dollar in the next couple of years, its not important that silver hangs around $17 a oz its important some month, some year in the future because…. JUST BECAUSE YOU’LL BE HAPPY YOU HAVE IT. Please remember coins, Silver, and Gold was never to be a Investment but Insurance like any other insurance and someday again you’ll be happy you have it. Many thanks to you Greg and all the Watchdog commentators and followers. (Love the comments.) Iv’e learned much from all of you. “REAL MONEY IN THE END WORKS”. A story soon to be written.

      • Jeff

        All great replies to Tim…… I would add the pessimism towards gold and the optimism towards the “market” is historic. Like my discussion with Allen, timing is everything…… If you’re on the right side of the trade I believe you will soon be rewarded. But when you look around it won’t be pretty.

  8. Gregory Mannarino

    The mainstream narrative is that the global economy is in a recovery and the United States is leading the way. If this is true, then why are world central banks turning to gold right now? According to BloombergBusiness, an article which was published on February 11th, “Governments added 477.2 metric tons to their reserves, the second-biggest increase in 50 years and 17 percent more than a year earlier.” The world central banks realize that the end of the debt expansion cycle is here, and the one who holds the most gold wins…

    • Greg Hunter

      Spot on Gregory! We will see you again in the next few weeks.

    • Al hall

      Greg: Yet people still don’t buy gold/silver. I go to the local coin shop often- more people selling( maybe they need the cash) than I would expect. They must believe the main stream CNBC duds. Sell at these low prices- crazy. A few like myself just keep stocking up, it’s on sale here and now.
      If the elite’s are buying, and they know the inside scoop–I’M BUYING TOO!!!!

    • Rick Perkins

      If the central banks want gold and the dollar begins to fail drastically, might history be repeating itself? Might “gold speculators” then be blamed in part for the dollar’s demise and this “crisis” used as be grounds for issuance of an executive order to eliminate that speculation?

  9. Jeff

    I appreciate someone who lays the #’s out as John does. Everyone loves to say “well it hasn’t happened yet” so it’s not going to happen…….. Isn’t that just a perfect example of todays collective mentality ? That mentality also has no clue what a $ Trillions is, nor cares……….. Totally agree on his oil price prediction (no surprise there).

  10. diane

    As a Californian like Mr Williams…we agree with his advice to prepare. Any disaster could hit any time….natural or man made.
    I really liked his comments at the end of interview. Very excellent advice and we can all do this best we can and we will sleep better and be unafraid or at least less afraid.
    If I have canned food, water, full tank of gas, some small bills on cash and other necessary goods…especially toilet paper.. I will be doing all I can.
    Thanks Mr.Williams and Greg!!!! We all hope we will never be in this trouble…but just in case…I’m hedging my bet here!

    • Terry

      Diane, Those “small bills” might be good for double duty.

  11. David

    great interview, i dont think its possible to predict exactly when the whole thing will blow but it will blow. i bought pms a few years ago and still feel happy with that decision. Speaking of bold predictions is there any chance of getting harvey organ back on?

    • Jeff

      David I actually believe it’s ALREADY blown up. I think what we are seeing is a continual cover-up of the truth. The MSM does a good job of painting everything rosy….. Without the EBT card (food stamps) there would be millions standing in line for food. Welfare, SS checks, ect are provided via printing money (counterfeiting) we don’t have. Those programs are as broke as the rest of our nation……. While everyone watches their favorite TV distraction the US burns…….. The few economic indicators that aren’t distorted reveal a dying patient……. Lumber prices, copper prices, electrical usage all tell a different story than the MSM……. The Baltic Dry Index clearly shows this is a worldwide event. How many indicators do you know that have dropped 53 out of the last 55 days ? [ ]

  12. James Hastings

    Another good one. When the system shakes itself out……will we still be able to view your program? 🙂

    • Greg Hunter

      I hope so James.

      • Al hall


        I “HOPE’ HE IS WRONG!!

        • Jeff

          Al I very much appreciate your input here. This is why I come to Greg’s site which he has so graciously provided to us…….. Could you expound on what you see “coming from the skies” ?

        • Charles H.


          “Hope” is an essential emotion, which fulfills an essential purpose. Is Fear or Stress real? Then Hope plays an important part in the whole; otherwise lopsidedness would be the norm. Be careful who or what you take as an authority. If you have two legs, and use them; then you have much more – and balance will serve to keep you going.

        • Silence is Golden

          Why do you buy Gold…when you know what’s coming from the skies. Do you plan on taking refuge in some underground bunker or city developed by the elite, when we are hit with the Armageddon event?

          • a

            Silence is Golden-CUTE!
            I have planned for 10 years . I know money is and will be worthless. Gold and silver is the money of the elite’s- I buy what they buy. Food, water, weapons, and underground when we have to. I follow where the arrows point. Elite’s building underground – I did the same.
            No, I’m not one of them- but have inside friends that show me were to go and what to do. Prepare bro!!

            • Silence is Golden

              A genuine question …A !
              What will gold and silver be useful for when you are but a select minority in a de-populated world ? Assuming what is coming from the skies is not a light show but something more sinister and devastating.

              • Charles H.


                Those who DO survive, might be esteemed as valuable drones – worthy to conserve?

                • Silence is Golden


                  Value/Worth might take on a different meaning in the future. They are subjective terms after all. What is perceived to be of value today may become superfluous.

  13. aps

    Greg, thank you for all you do. You are an honest broker trying to bring us the truth and facts of what is happening currently economically.

    Without the truth/facts, one can not make good decisions. Been on your site for the last 2 months and it is an oasis in a desert of lies and deceit. Again thank you and God Bless you.

    • Greg Hunter

      Thank you Aps.

  14. Al hall

    Greg: John says the king dollar is strong. But, if looked at closely- it’s only strong because it’s compared to everything else that’s just weaker. Or, it’s the best of all that’s bad right now. And you are right Greg, when this happens it will be very quick collapse.
    been told this for many years now.

    • Jerry

      My contacts say the reason the dollar is spiking right now is because the Treasury is buying back its own bonds at record levels making it appear that the dollar is stronger than it actually is. When you look at the low level of interest paid on a 10 year Treasury as compared to the RMB, one would conclude that they are correct. There is no driving force in our economy, that would cause this type of spike. Its is an “Illusion” created by the bankers to delay the inevitable a little longer.

      • Al hall

        Jerry– agree with that- many are saying this is the final spike in the dollar before the collapse. I’m ready

        • Silence is Golden

          First we will see a correction to ~90 on the DXY.
          Commodities will retrace over the next 4-6 weeks. This will set a trap for the futures players (esp. Oil and Energy).
          Then the Dollar spikes to over 100 on DXY and commodities get cleaned out. Towards the end of summer we should see the final peak in the Dollar. After that its bombs away.

    • Jeff

      Al I try not to interject scriptures on Greg’s site but after reading Rev Ch 18 I have a greater respect for what’s coming……. The multiple times 2 statements stands out are quite revealing……..” In one hour” is the description continually made…….. The other description is how the merchants of the world, kings, and those in the shipping business “will stand at a distance” from fear of that one hour destruction.

      • Greg Hunter

        “Scriptures” are good here especially if you are making a point. Fire away. Thank you for involvement in the site.

      • Jerry

        Jeff, here’s one of my favorites.
        Rev 6: 9-10
        9.And when he had opened the firth seal, I saw under the alter the souls of them that were slain for the word of God and for the testimony they held.
        10. And they cried with a loud voice saying how long o lord holy and true dost thou not judge and avenge our blood on them that dwell on the earth.

        I would say before this is all over we may all have the opportunity to become Martyr’s for our belief’s. Especially if you are a Christian in the Middle East.

        • JC Davis

          Jerry the saying floating around my garage is to have enough to prepare to make it to the guillotine. No better way to die then praising Jesus.

      • paul

        If a big asteroid hits the Atlantic … expect about 600 foot high tsunami’s to hit both Europe and the US east coast … but there will be plenty of time to take avoidance measures … because before the big one hits … Jesus said … “the great tribulation will be preceded by celestial signs” … like a blood red moon, great swarms of meteor showers, earthquakes, volcanos, etc. … according to astronomers a blood red moon is not due until 9/11 to 9/23 of 2015.

        • Al hall

          Yes Paul- this blood moon will happen 9/23/15 – the last of 4 in the last 2 years. 3 one will be in April I believe. These are important to the satanist elite’s- these people are sick people!

    • Brad27

      Al, I agree. The dollar is the best looking horse in the glue factory. A good measure of the health of the dollar is how much you pay for a plumber or a mechanic. $90 and hour would have been complete fantasy not too many years ago.

  15. Jack

    I’ve been following your site, Greg for a couple years now. I just really appreciate you, John Williams and Greg Mannarino so much because your honesty, concern and caring comes through and it is so genuine. Regarding Martin Armstrong- he likes bashing gold bugs but when you asked him in a previous interview if he would own gold when the crisis hits, he replied “Of course.” That’s all you need to know.

    • Greg Hunter

      Yes Jack,
      There is a big difference between a trade and wealth preservation strategy. Thank you for weighing in here my friend.

      • Mike

        My simple way of travelling through this transition period.

        I have much more confidence is my PM holdings than in my cash holdings. For that reason I sleep better at night.

        I have a great deal more confidence in the conclusions I reach, than in those that are shoved down my throat by governments or MSM. For that reason I sleep better at night.

        I have more confidence in the individuals like Mr. Williams than I do with the mouthpieces that we see on MSM that simply read what they are given to read and only ask the questions that they are told to ask. For that reason I feel I more accurately informed and therefore sleep better at night.

        The timing of when the ponzi scheme unwinds is not known. What is known is ALL PONZI SCHEMES FAIL.

    • allen ols


      Here is 4 star admiral JAMES “ACE ” LYONS speaking for 2 minutes on isis, Komenhie, and casper wineberger under Carter admin. and R. Reagan.


    • Karen

      Exactly Mike. Your description is exactly how I also operate in my personal and financial life amongst all conflicting information. As far as gold, another reason I do not worry about the price going up or down is that I started buying gold and silver coins that I find to be of personal interest to me; ( i.e., Lunar bullion coins and coins with nature themes). So, not only do they eventually become collectables, but I enjoy owning these coins on an aesthetic level. But they are still pure gold and silver and will protect my wealth. And if no bad times occur, I will continue to enjoy being a “gold bug,” and my heirs will inherit these beautiful coins. A win-win for me, regardless of price they are assigned in fiat dollars.

  16. Ross

    Another great interview Greg. Note ; they say just 3% of notes and coins are created debt free by our Govts because most new money is now digital and created as debt by private banks for home loans, business debt and credit card debt.

    During the Great Depression many people were paid in cash and did not keep their money in a bank. Thus there was far less debt during this era. This among other reasons of no self sufficiency, no Glass Steagall Act ,very little manufacturing and derivatives having first priority, makes us all prey to looting by our Govts and the Banks.

    • paul

      Yes … only the “pocket change” coins produced by the US Treasury is “debt free” money … so if you must hold “US currency” … it should be in the form of (copper, nickel and zinc) coins under your bed … not paper IOU’s … because copper, nickel and zinc have a much “greater intrinsic value” when compared with “a paper dollar’s value”!

  17. Smaulgld

    The dollar is only strong because the fed has stopped QE and is threatening to raise rates

    People forget the Fed printed more dollars in six year than anyone could have imagined when they started in 2009.

    Just because they stopped QE claiming it worked-it didn’t- doesn’t mean they wont start again. QE is now a “proven central bank tool” no longer and “extreaordinary measure”

    Quittin’ QE is easy, the fed’s done it three times already.

    They will be back at the printing presses soon.

  18. JC Davis

    Greg. Here is a thought. If a person had connections in China lets say to exchange one currency for dollars the day China drops the dollar there should be Millions floating around to buy. Then send wire transfer back to a USA account to pay off loans. I don’t know if it would work. Just a thought.

    • Johnnie

      That’s pretty much what the Federal Reserve, Bank of Japan and every other highly indebted interest are trying to do! Trash their respective currencies and live to print another day. I’m sure they know the jig is up soon, but like a bank robber, you stay on the run until the very end. As a bank robber, you are not going to turn yourself in. You figure you will probably get caught, but you still want to try to get away with it.

      Martin Armstrong seems to think gold will only go up when confidence is lost and the public start to participate in purchasing precious metals. Still, this may not be required if China stops getting it’s gold and a quantum leap in the gold price occurs. Gold has climbed considerably during the last 6 months in most world currencies while up slightly in USD. I think the high USD is an aberration. Every week another European nation is introducing negative rates and markets are holding out for rate hikes in the US. Can’t see it happening unless the US is truly insulated in a bubble from the rest of the world, but with $30+ billion a month in trade deficit with China, I can’t believe the US economy is that healthy. I think the world is fighting a technological induced deflation largely caused by advanced manufacturing (providing cheaper products while reducing employment required) and the internet which upturns every business model it touches (allowing services/information/entertainment) to be available for basically free. Most governments and their citizens are up to their eyeballs in debt. Only publicly traded corporations and the extreme wealthy are swimming in cash.

      • JC Davis

        Johnnie. WOW. What a Great reply.

      • Charles H.

        “… but like a bank robber, you stay on the run to the very end.” Superb!

  19. Gary

    Greg great interview but its allways samething same people I lnow News changes every day still waiting for the Hal Lindserly interviee

  20. Mike

    In the end we can only do what is possible.

    Do I wish I had more PMs, more stocked food and the like…of course I do.

    Do I have enough….what is enough….
    I take great comfort in just knowing that understanding what I do prepares me better for dealing with what will eventually come to pass.

    We here are so much better prepared for the tough times than most simply because we have the awareness of what is coming.

    I feel for the masses that have been massaged into a semi conscious state.

    They will add to the chaos and unrest that is coming.

    Governments have failed us by simply lying to us.

    • paul

      Mike … according to the Bible you will need to store away a minimum seven(7) year food supply … to get you to “the other side” of the great tribulation!! … having a farm to grow your food “may not do the trick” because the blackened sky (due to volcanic ash, etc.) can block out the Sun for years … and weather (without summers or sunlight) will be very cold … not exactly ideal for growing food.

      • JC Davis

        Mike and Paul. I for one have realized the value of learning today is the best preparation for the future. Presently learning Foraging for wild food. Of course you have to have the land to eat from.

  21. Orion

    John is a great technical analyst and I very much appreciate his sorting through the fictional government statistics and revealing the true economic indicators. Unfortunately, many people chastise technical analysts like John because they can’t predict an exact time when the economies will turn. In fact, what they have trouble predicting is the depth and breadth of illegal activities that the Fed and central banks will resort to in order to keep the flawed, debt-based banking systems alive. Nevertheless, the true economic indicators are predicting a future financial calamity. The government statistics are like a bikini because what the reveal might be interesting, but what they cover-up is more significant. Thanks John and Greg.

  22. brian

    As more and more time goes on we see clearly that this is not so much about managing the supply and movement of money, but manipulating and controlling peoples perceptions, expectations, thinking and behavior…..if that is not terrifying enough then just take a long look at the grossly immoral and aberrant nature of the people pulling our strings.

  23. OutLookingIn

    Strong US Dollar? Or, Irrational Exuberance?

    The US dollar has closed higher for 30 out of the past 39 weeks. At present, among currency traders 93.7% are dollar bulls, an all-time record high! Large speculators in futures and options, hold an all-time record net-long position of 72,897 contracts.

    Only one other time has the US dollar increased in value by so much in such a short time period. That was in 2008 just before the crash! What could go wrong?

  24. Jerry

    Greg you might find this interesting. The Freedom of the Press index for 2014 ranks the United States 30th in the world. Sweden was number one. North Korea was dead last.
    I’m surprised we weren’t ranked lower considering all the government manipulation and control. Not mention cabal corporate ownership of the big four.

    • wd


      Dont know if you saw this…

      “You know things are bad in the ship-building business when… amid considerably larger than expected losses, China’s COSCO announced that it has dis-assembled 8 vessels in January alone (including 3 bulk carriers) and will be decommissioning and disposing of them as it awaits a “more conducive” environment. It appears that is not coming anytime soon, as The Baltic Dry Index just hit 522 – a new all-time low (down a stunning 53 of the last 55 days).”

      I still remember when you called that event last summer with 24 hours of that Ukraine jet being shot down. Thanks

      • Jerry

        If the longshoreman strike goes on much longer in California, the Chinese may quit sending their goods altogether. Who could blame them? Their cargo ships have been lined up out the harbor for weeks.
        I have watched trainloads of COSCO goods headed to major cities for distribution. A breakdown of this magnitude would be devastating to our supply system.

  25. Ray

    I’m not a rich guy, I have a little pension, and collect a small social security check that allows me to live. Since the crises of 2008 I have paid off my house, sold my cars and bought a small compact car. Right now this minute everything is ok. So now I’m stacking gold and silver. If this crises somehow blows over I will still have my pension and SS checks, but if the worse happens I will rely on my gold and silver. I have got a lot of beans and rice, water is my big problem. I have no idea what is in the future but I believe it isn’t going to be good, all my research tells me this is the big one. I can give all kinds of reasons why I say the future is going to be devastating for most people, maybe even me.
    Greg Hunter is a great source of information which I greatly appreciate, John Williams provides us with honest and reliable statistic, someone to listen too.

  26. Larry White

    If it’s OK I will offer this comment to this discussion. You don’t have to only take the word of people like John Williams that the system is at risk. Both the IMF and the BIS (Bank for International Settlements) have issued numerous warnings over the last year that the system is at risk. I covered the latest BIS report on this here on my blog:

    If the IMF and the BIS are both concerned that the entire system is at risk, it seems reasonable that all of us should be too. I do notice that the media gives very little attention to these reports and warnings issued by the BIS and IMF.


    • Greg Hunter

      Lank you Larry for posting additional information on the John Williams post!!

    • JMiller


      You are correct that the IMF and BIS and others are concerned about the financial system, especially when it comes to derivatives, and they should be. And you are correct that steps have been taken to try to minimize these risks. I however do have one question for you. On your blog you state the following:

      “Country after country has passed legislation that allows everyone who owns a bank account to potentially be “bailed in” if the whole system is at risk of failure.”

      Could you please point me to the LEGISLATION that says that my FDIC INSURED DEPOSITS in my bank located in the USA is included in any Bail-in or any legislation that insured deposits in Europe or Canada are included in any Bail-in. I do not believe that insured deposits, at this time, are included in any bail-in legislation or proposal any where, and for good reason. I do believe that uninsured deposits at the Global Systemically Important Banks are included and in a way all uninsured deposits always have been at risk of a loss in the case of insolvency. In the case of IndyMac bank uninsured depositors received 50 cents for every dollar of uninsured deposits. In some other bank failures the uninsured depositors received even less. Also I believe that foreign deposits are also not FDIC insured.

      I would appreciate very much if you can give me an answer Larry. Thanks.

      Note: If any one else is going to make a comment please read carefully what I just stated above. I know that things can change and some here would say the all bank accounts are at risk of confiscation at any time and you should not have any money or at least as little as needed in the banking system etc… Thank you.

      • Larry White

        Could you please point me to the LEGISLATION that says that my FDIC INSURED DEPOSITS in my bank located in the USA is included in any Bail-in or any legislation that insured deposits in Europe or Canada are included in any Bail-in. I do not believe that insured deposits, at this time, are included in any bail-in legislation or proposal any where, and for good reason.
        Thanks for your question. I actually worded that comment that way (using the word potentially) because my own research (which I posted in an earlier article on my blog-link below) indicated that US accounts under the $250,000 insured amount should still be protected. Other countries have different insurance limits. What we know is that uninsured amounts definitely appear to be at risk of bail in. Of course, many people feel that in the event of a systemic crisis, the insurance protection would go away completely. But I agree that so far I don’t find legislation that subjects insured amounts to bail in. I did an article about the G20 communique where they issued a statement about this issue. It’s pretty long and complicated. Here is the article I wrote about it back then:

        In this article I noted that it appears the new standards the G20 were promoting would exclude insured deposits, but not uninsured deposits as you mentioned (that is how I read the document). If anyone has new information or sees an error in my earlier article, just let me know. Thanks again.

        • JMiller


          Thanks for your replies. I agree with what you said. While there is no legislation or known proposals to include insured deposits in a bail-in they are still at risk if there is a very severe financial collapse. In fact everything is potentially at risk, even gold and silver since they could be confiscated by the government.

          I found a lot on your blog that interests me and I have some more questions for you and comments that I would like to make so I will do it through your blog. Thanks.

      • Jeff

        JM Basically the whole western world has passed legislation focusing entirely on your deposits……. The problem is the debt in the world is 100’s of $trillions…….. The funds in the FDIC don’t even cover 100th of 1% of the deposits. There will be no gov rescue next time as the gov is broke also. So the plan is to take your money……….Google “bail-in” One more reason to buy gold.

      • Larry White

        After reviewing my blog article several times, I decided that using the phrase “country after country has passed legislation” was a poor choice of words to convey the thought I was going for. I rewrote that part of the article to hopefully convey the idea better. That idea being that in a systemic crisis, there are serious regulations in progress in many countries that could cause regular bank accounts to be “bailed-in”. Certainly for amounts above insured amounts.

        It’s a complicated subject because the banking rules endorsed at the last G20 summit are not easy to interpret for the average person. But they do appear to leave open the door for even insured deposits to be at risk if I read them properly. This link I put in the previous reply will go to an article where I looked at that issue the best I could to show where the language is in that G20 document that makes me think insured deposits could eventually be at risk (not under current legislation).

        I would enjoy others looking at it and offering their thoughts on it as well. Thanks again for asking the question because I think it pointed out a poor choice of words in my blog article. Take a look at the new version and see if it makes better sense. Attorney Ellen Brown has also written some on this issue:


        • paul

          And what faith can anyone really have when given “a promise” by government or a central bank?
          Didn’t the government just report the unemployment rate fell to 5.6 percent? (because they count one person holding 3 part time jobs as three fully employed people in America)!
          And didn’t the Swiss central bank recently promise to keep its franc pegged to the euro? (two days before they un-pegged it)!
          The FDIC promises to make good on hundreds of trillions of dollars in bank accounts with just a few billion dollars in reserve. But reading about FDIC or G20 promises does not guarantee they will be kept!
          The only money you can truly count on having in a banking meltdown is the copper, nickel, zinc, silver and gold coins you promise yourself to put under your bed now before the meltdown (as long as you keep that promise to yourself)!!

          • Jeff

            Paul Are the pennies and nickels still all copper and zinc. ? They sure feel worthless.

      • Silence is Golden

        You are persistent JMiller I give you that.

        There is a discernible inconsistency in your comment. You acknowledge the problems and risks associated with derivatives but are nonplussed because you have the Blue Seal of Insurance from the FDIC.

        Some clarification might be in order.
        Q: Are you concerned about the “Derivatives” time bomb ?
        Q: Do you have money in a Bank ?
        Q: Are you aware of the risks of having said money in a bank ?
        Q: Are you aware who holds the bulk of those Derivatives ?
        Q: Do you have any faith in the Rule of Law as it stands ?
        Q: Do you believe the US Government is Bankrupt ?
        Q: Do you believe the FED is Bankrupt (if it were forced to adopt mark to market values of its so called assets) ?
        Q: Do you honestly believe the FDIC can withstand a call on its reserves (should the need arise) notwithstanding the above Bankrupt nature of the Government and the CB ?
        Q: Are you assuming the rule of Law will prevail and that a bankruptcy event of any/all Banks will not affect your claim on dollars you have lent to the financial institution ?
        Q: Can you predict the future ?
        Q: Are you qualified to provide financial advice to the public.

        Are you again unintentionally misrepresenting your opinion (not making it clear) or being taken out of context ?

        Would it not be unreasonable to air some caution instead of waving a GREEN flag and giving permission to put your money in a Bank?

        Right now all I can see is you holding the Black and White Flags whilst pushing the button for the Green traffic signal.

      • Jerry

        You really need to read this article I posted a few weeks ago. There is legislation that has been passed that puts American taxpayers on the hook for a derivative default.

        The government is making up the rules as they go, because they essentially have no economic plan to divert the said economic collapse that is coming. You’d have better odds of keeping your money playing the slot machines in Vegas, than keeping your money in a bank at this point. But what the heck” Go ahead and spin the wheel and place your bets.

  27. Wim

    Thank you for the interview Greg, enjoyed it, always love to hear a clear view.
    February the 10th Peter Schiff had a podcast titled ‘I’m Living in an Economic Twilight Zone. On many topics the masses got maneuvered into The Twilight Zone. In a way the masses got hypnotized, brainwashed all over the place, blind for the actual truth. I hope after The Grand Collapse things will get triggered to make people see, like Jesus Christ (JC) made people see the spin doctors at the time, The Religious Rulers, who altered his story after they got him executed for his views, which got growing attention of the people. Like James Hastings posted, let’s hope we will be able to see you after The Grand Collapse, whenever or whatever way it will happen, and initiatives like yours Greg hopefully going viral. And when the truth tellers/saints go marching in, hopefully rocketed by the comeback of JC. Some periods I can see that possible future reality, but then looking at this world it seems a dream in The Twilight Zone, as history repeats I really hope that cycle gets broken one day. May the view of the founding fathers of America go viral one day, and the Source of Love (in and outside us) bless us all. Expect the unexpected.

  28. Sid

    I respect John Williams work. But I wish he would have pointed out the GDP calculation was changed in 2013 so it adds about 3% to the result. And if I am not mistaken, the U.S. is the ONLY country in the world that calculates it that way. So the government says GDP grew 2.4% in 2014 but after you SUBTRACT 3% then aren’t we really in a Recession? Am I wrong? Greg, in the future can you point this out to remind people?

    The good news:
    U.S. Economy Grew 2.4% In 2014!!!

    The Bad News:
    It’s Only GDP Tricks, Not Real Growth

    U.S. Government’s New Way Of Calculating GDP

    Recalculating how the US calculates GDP will not have a happy ending

    • wd


      Yes you are absolutely right…they have added things like copyrights and other residual type payments…I have been yelling this for the last year! Glad you noticed, this was a slight of hand trick.

  29. Andy Sloan

    Verses 15-68

    God bless all!

  30. Jerry

    Greece says no to the first rattle out of the EU box.
    I’m wagering that France and Germany will be the first to bail on the EU if a deal can’t be reached with Greece. Bets anyone?

    • Greg Hunter

      I can’t see how this gets worked out where there is not a crash now or a little later. Heads a crash now–tails a crash in a few months, but a crash either way.

      • Jerry

        Greg. I agree. I think it was interesting that Angela Merkel and the president of France flew to Moscow two days ago to meet with Putin. I think a contingency plan is on the table to join the BRICS if things continue to go bad with Greece. I don’t see Germany getting hosed over again. Lets not forget the Germans had their gold stolen, and Angela Merkel has had the NSA tapping her phone calls to Russia. I think the whole thing comes apart this week and a war starts in the Middle East.

      • Jerry

        Greg when you see how much debt the EU really has, Greece is the least of their problems.
        No wonder they are printing money.

  31. Don

    Dear Mr. Hunter, thanks for having Mr. Williams on wrap up. As always he’s seeks to convey truth like yourself. I’m one who would have to acknowledge that I’m not sure how all of this is going to play out, but like most I’m saddened and some times angered at what I see our leaders doing, which is why I continue to try to write Rep.’s in my state. Its seems to me that the global economy is left in a deflation to the average man, because the QE’s are used to only help bank balance sheets and fund run-a-way government spending. I know they know that what they are doing, and so the plan must be just that. though out history this sort of thing has been played out several times in cycles and the poor and middle class have been destroy by it. So I’d have to say the powers that be planned it this way to shift as much wealth to the upper class. Love to have any thoughts you may have. Farewell

  32. jimha

    The dollar weakens against what. The Euro is set for extinction and everybody knows the Yen situation. The measurement system is flawed so you can’t really measure the dollars strength until the precious metals manipulation ends.

    • Charles H.


      Correct. I wouldn’t be surprised if there are more tons of paper Derivatives, than there is of gold. I think they conjure them up willie-nillie by the boatload – believing nobody will find out. Go the way of some Bank’s basement flood. The price quoted in the US is worse than a bad joke. The East will have to pull the plug.

  33. Jack

    Hi Greg,

    Thanks for all the work you do to uncover the truth. Have you ever read the FOFOA blog? It is a very compelling case for what is in store for gold, and the role it will play in post ‘king dollar’ paradigm. Recommend this recent post to all your followers: It would be awesome if you could find the author of the blog get him on your show.



  34. Jerry

    As I have suspected, ISIS real target is Saudi Arabia according to this article.
    If this is true, I’m sure Russia, Iran, and Turkey would be glad to step aside and let it happen. Here’s why.
    1. It would be the end of the Petrodollar.
    2. It would put Russia, and Iran in complete control of the worlds oil after the Saudi’s
    have completed destroying the U.S. shale oil companies.
    3. Backroom deals have already been cut between China and several of the young Saudi princes that want control of power.
    4. The Syrians want their Gazprom deal with Russia completed.

  35. A R M A G E D D O N ?

    Russian researchers expose breakthrough U.S. spying program


    By Joseph Menn

    2 hrs ago

    The U.S. National Security Agency has figured out how to hide spying software deep within hard drives made by Western Digital, Seagate, Toshiba and other top manufacturers, giving the agency the means to eavesdrop on the majority of the world’s computers, according to cyber researchers and former operatives.

    That long-sought and closely guarded ability was part of a cluster of spying programs discovered by Kaspersky Lab, the Moscow-based security software maker that has exposed a series of Western cyberespionage operations.

    Kaspersky said it found personal computers in 30 countries infected with one or more of the spying programs, with the most infections seen in Iran, followed by Russia, Pakistan, Afghanistan, China, Mali, Syria, Yemen and Algeria. The targets included government and military institutions, telecommunication companies, banks, energy companies, nuclear researchers, media, and Islamic activists, Kaspersky said. (

    The firm declined to publicly name the country behind the spying campaign, but said it was closely linked to Stuxnet, the NSA-led cyberweapon that was used to attack Iran’s uranium enrichment facility. The NSA is the agency responsible for gathering electronic intelligence on behalf of the United States.

    A former NSA employee told Reuters that Kaspersky’s analysis was correct, and that people still in the intelligence agency valued these spying programs as highly as Stuxnet. Another former intelligence operative confirmed that the NSA had developed the prized technique of concealing spyware in hard drives, but said he did not know which spy efforts relied on it.

    NSA spokeswoman Vanee Vines declined to comment.

    Kaspersky published the technical details of its research on Monday, which should help infected institutions detect the spying programs, some of which trace back as far as 2001. (

    The disclosure could further hurt the NSA’s surveillance abilities, already damaged by massive leaks by former contractor Edward Snowden. Snowden’s revelations have hurt the United States’ relations with some allies and slowed the sales of U.S. technology products abroad.

    The exposure of these new spying tools could lead to greater backlash against Western technology, particularly in countries such as China, which is already drafting regulations that would require most bank technology suppliers to proffer copies of their software code for inspection.


    Much more in this Reuters post, at;

  36. Ed Martin

    I am old but have been young… and have found that timing is everything. Yet to access it required a clairvoyance not possessed.
    However, I do prescribe to the Noah principal…”.better a year early than a day late.”

  37. Art Barnes

    Greg, 21 Christians beheaded in Libya, ISIS threatens Rome, Denmark killings, Yemen falls, more territory lost in Iraq to ISIS, Libya lost to ISIS for the most part, and so on & so on, all the while the President and Congress are going to spend months debating what to do; does our government validate the “peter principal” or what! From the Western Front, holding on by a thread.

  38. A R M A G E D D O N ?

    Millions at risk of losing coverage in Supreme Court health law case

    The Washington Post

    Erin Meredith, a fifth-generation Republican who lives in Austin, was no fan of President Obama’s Affordable Care Act, which she considered just another wasteful government handout. She didn’t sign up for a health plan until late last year, when she felt she had no other choice.

    By then, Meredith, who is 37 and has two children, had gotten divorced and lost the insurance provided through her husband. Her new job, as an office manager for a roofing company, didn’t offer benefits. About the same time, she learned that her headaches and fatigue were the result of a rare condition that affects the oxygen level in her blood. She couldn’t afford to spend thousands of dollars on doctor’s visits, and her desperation slowly turned to panic.

    In November, at a friend’s urging, Meredith looked for a health plan on the federal online marketplace. With an income of about $30,000 a year, she discovered she qualified for a government subsidy of $132 a month. Her premium would be $89 a month.

    Now that she has coverage, she doesn’t want to lose it. “I can still feed my kids and put gas in my car,” she said. “I’m not trying to go to Cancun or carry a Michael Kors bag. I drive a 2009 Mazda and I’m just trying to make it in my little apartment and not be on government assistance.”

    Meredith is one of about 6 million people whose subsidized insurance hangs in the balance as the Supreme Court takes up a case that poses the most serious challenge to the Affordable Care Act since the court found the law constitutional more than two years ago.

    The plaintiffs in King v. Burwell insist that people who buy coverage on the federal exchange are not entitled to subsidies, noting that the law says financial help is available for those who enroll through exchanges “established by the State.” The Obama administration argues that Congress clearly intended to help everyone who qualifies for it. The oral arguments are scheduled for March
    About the only thing both sides agree on is that the subsidies are critical to the health-care law, whose second open enrollment season ended Sunday. If the Supreme Court bars subsidies for people in 34 states, some say the law will unravel and the number of uninsured will soar. Others say the White House and Congress may come up with a solution. And still others say that at least some states will rush to set up exchanges. But any alternative would raise a host of legal and practical questions and could be difficult to implement.

    The sorry solutions. . . .

  39. Coalburner

    One more for Tim. Tim many of us have a similar tale and have decided we were right and are hanging tuff. Just one more PM that you need. Get some lead and learn how to use it. We have no idea which crash will be first or the follow on! You will have 50 milliom friends out here looking to maintain civilization.

  40. Brent

    Hi Greg,

    This is a counterpoint article that came out today. You and everyone else should read it. John Williams and other guests you have had are mentioned in it and why they are wrong about an imminent economic collapse. The author would also make a great future guest to come on. I am an avid reader of, but I rarely comment so I did feel this was important enough to make a comment. Keep up the great work!

    • Greg Hunter

      In order for this to work the rest of the world is going to have to allow the U.S. to print money to buy oil and many other goods. I think we have War first and that indeed will crash the global system. I ‘d hedge my bets and get into some sort of preparedness. There are so many unseen black swans floating around out there anything can happen. Thank you for the link and for the comment!!

      • JMiller

        ” I ‘d hedge my bets and get into some sort of preparedness. There are so many unseen black swans floating around out there anything can happen.”

        I completely agree.

  41. A R M A G E D D O N ?

    ‘Cloud’ over Mars leaves scientists baffled

    AFP Isro

    4 hrs ago

    Amateur astronomers have spotted two strange, cloud-like plumes high over Mars, deepening the mystery of what constitutes the Red Planet’s atmosphere, a study said Monday.

    The phenomenon was observed on March 12, 2012 over the “terminator”, the boundary between day and night on Mars.

    One of the plumes developed in around 10 hours and lasted for about 11 days, shifting shape from “double blob protrusions” to pillars which merged into a “finger”, the study authors wrote.

    A second was spotted nearby on April 6, 2012, and lasted about 10 days.

    Their trails were vast, extending between 500 and 1,000 kilometres (300 to 600 miles) in north-to-south and east-to-west directions.

    The “clouds” — if that is indeed what they were — were seen at high altitude, at about 200-250 kilometres, roughly above Terra Cimmeria, which is part of Mars’ rugged southern highlands, according to the paper.

    Mars is being scrutinised for signs of water and volcanic activity, both of which could theoretically nurture some form of life.

    Clouds of dust or ice crystals have been spotted occasionally over Mars in the past.

    But they have never been as extensive as the latest two, and they always formed at an altitude below 100 kilometres.

    The plumes could be made of particles of water or carbon dioxide, said the paper published in the journal Nature Geoscience by a team led by Agustin Sanchez-Lavega of the University of the Basque Country in Bilbao, Spain.

    Alternatively, it could be an aurora, similar to the shimmering light show that develops in Earth’s atmosphere when solar particles collide with Earth’s magnetic field.

    Past surveillance by scientific orbiters have suggested Terra Cimmeria to have a “strip” with a strong but localised magnetic field.

    If correct, the Martian “aurora” would be a remarkable 1,000 times brighter than its terrestrial equivalent.

    But “both explanations defy our current understanding of Mars’ upper atmosphere,” the scientists admit.

    Picture of plume on Mars; © Provided by AFP Amateur astronomers spot two cloud-like plumes high over Mars, as seen here on September 30, 2014 from the Indian Space Research Organisation

    Original post; ◄ Luke 21:25 ►

  42. david brownallen

    This is an important video. Power to shutdown your business, especially if your a coin dealer.

  43. Conrad

    BBC NewsEUROPE 6 February 2015 Last updated at 05:05 GMT
    Severe winter weather has been causing chaos for many across parts of Europe.
    Sweden, Italy and Spain are among the countries that have seen arctic weather over the last few days.
    Schools and roads have been closed and the bad weather is expected to continue over the weekend.
    Tim Allman reports. SEE VIDEO, Below;

  44. Conrad


    Russia’s next-generation military – in 90 seconds

    6 February 2015 Last updated at 12:43 GMT
    As Russia cuts down on spending elsewhere, it is pumping more money into its military.
    BBC News takes a look at what it is spending its money on.
    Video produced by Mohamed Madi

  45. Conrad

    BBC NewsASIA

    Japan’s resurgent military – explained in 60 seconds
    14 January 2015 Last updated at 16:43 GMT

    Japan’s parliament has approved its largest ever military budget, the third rise in defence spending in as many years.
    Since WWII the country has been constitutionally bound not to deploy combat troops abroad.
    However, Japan says China now poses a threat to its interests in the East China Sea and that it must boost its military capabilities in response.
    Video produced by Mohamed Madi
    Read more
    Japan boosts military forces to counter China

  46. Conrad

    Japan boosts military forces to counter China

  47. Conrad


    17 February 2015 Last updated at 10:21 ET

    Islamic State militants ‘burn to death 45 in Iraq’

    Jihadist militants from Islamic State (IS) have burned to death 45 people in the western Iraqi town of al-Baghdadi, the local police chief says.

    Exactly who these people were and why they were killed is not clear, but Col Qasim al-Obeidi said he believed some were members of the security forces.

    IS fighters captured much of the town, near Ain al-Asad air base, last week.

    Col Obeidi said a compound that houses the families of security personnel and local officials was now under attack.

    He pleaded for help from the government and the international community.

    The fighting and poor communications in the area make it difficult to confirm such reports.

    Earlier this month, IS published a video showing militants burning alive a Jordanian air force pilot, whose plane crashed in Syria in December.

    Al-Baghdadi had been besieged for months by Islamic State fighters before its fall on Thursday.

    It had been one of the few towns to still be controlled by the Iraqi government in Anbar province, where IS and allied Sunni Arab tribesmen launched an offensive in January 2014.

    Pentagon spokesman Rear Adm John Kirby told reporters on Friday that al-Baghdadi’s capture needed to be put in perspective.

    He said it was the first time in the last couple of months that the jihadist group had taken new ground.

    However, Ain al-Asad air base, where about 320 US Marines are training members of the Iraqi army’s 7th Division, is only 8km (5 miles) away.

    The base was itself attacked by IS militants, among them several suicide bombers, on Friday. The militants were eventually repelled by Iraqi troops backed by US-led coalition aircraft.

    In a separate development on Tuesday, the influential Shia cleric Moqtada Sadr announced he was withdrawing his forces from an umbrella group of Shia militia fighting IS alongside the Iraqi army.

    He cited what he called the bad behaviour of other militia within the Popular Mobilisation Forces, whom he accused of “wreaking havoc through murdering, kidnapping and violating sanctuaries”.

    Shia militia have been accused of kidnapping and killing scores of Sunni civilians since Islamic State launched an offensive in northern Iraq last June that saw it seize large swathes of the country.

  48. Conrad


    Islamic State defector: ‘I joined out of fear’

    16 November 2014 Last updated at 23:13 GMT

    The extremists are not just accused of killing western hostages, but also Syrians and Iraqis on a massive scale.
    A defector from the IS group has been speaking to the BBC’s Paul Wood in Turkey, about their brutality in the Syrian towns under their control.

  49. Stonewall

    It’s always better to be early than late for anything. So a very tiny minority of the
    population have some inkling of the magnitude of what is going at us and are trying
    as best we can to prepare, but the vast majority of people haven’t a clue and when
    this experiment of creating endless prosperity out of thin air explodes the families
    who believed the BS and haven’t prepared are going to be in terrible shape. The
    old pictures of German people stoking their wood stoves with Dutch Marks during
    their hyperinflation period are real and people shouldn’t forget that. To get a feel
    for how bad conditions can get I suggest watching an old movie called
    Dr. Zhivago.

  50. Stonewall

    In my comment above I wrote ” what is going at us”. Of course it should be “what is coming at us”.

  51. Conrad

    Greece crunch-time as Euro talks break down
    54 minutes ago

    The Greek government says it is confident that a deal with its creditors in the Eurozone can be reached, despite the collapse of talks last night after it rejected the conditions for extending its bailout.
    Eurozone finance ministers have given the country’s anti-austerity government until Friday to agree.
    There is concern that Greece could run out of money and be forced out of the Euro.
    Our Europe Correspondent Gavin Lee reports.

    How Greece and China are doing business
    9 September 2013 Last updated at 04:57 BST
    A growing business relationship is developing between China and crisis-ridden Greece, where unemployment is at a record high.
    Greek companies are increasing exports to the Chinese market, although they are still only one-twentieth of what China sells there.
    One company just outside Athens, carbonated drinks producer Frutop, has tripled its exports last year, thanks to sales to China.
    And at the historic sights of Greece, Chinese tourists are arriving in growing numbers – a welcome boost for the country’s biggest industry.
    Mark Lowen reports. VIDEO;

    Read more
    Can China lead Greece out of darkness?

  52. Conrad

    Oop’s, Europe Correspondent Gavin Lee reports, video; Greece crunch-time as Euro talks break down

    • Greg Hunter

      This is big. Either Greece defaults of gets a debt cut and both will produce a financial crash one sooner than later.

  53. Larry Galearis


    It is always a pleasure to listen to you and John Williams…..
    A thought that is not ‘out there’ very much: it is not just the oil price that has been attacked in the economic warfare scenario Mr. Williams describes, it is also gold. So the perversity of the monetary attack on the rouble also relates to supporting the dollar. We are beginning to see another strong intervention period in the gold and silver paper markets now and more of this is likely ahead. To some extent, this is occurring in all the important commodities and their ultimate goal is suppress prices of tangibles of all types to pre 1990 levels. To TPTB, this would hide the monetary crisis. I do not think this will be achieved because at some point “stuff” stops being produced and the economy collapses. So in the meantime we watch the important “canaries in the coal mine” like gold and silver to see how low these criminals can suppress the price. We should know that banksters and governments – in the West – would not care if the gold and silver miners ceased operation); we have, after all, seen what they would do to oil prices out of political considerations and there is nothing more politically important than gold and silver prices. And yes, they will try for $250US gold prices and perhaps achieve it. Why? Because that price is a derivative price that at best is backed by 1% to 5% gold – about the same worth as costume jewellery.

    Only about 1% of us know what is going on and are taking steps to protect ourselves. I know (as do you) how difficult it is to reach the public about what is really going on….The vaster majority is amazingly resilient in their efforts to preserve their uncomplicated world views and this is going to have most tragic consequences for whole populations. This includes our own families. After a while it gets tiring to try.
    Best to you,…


  54. dee garmon

    Thanks for having him. He is so knowledgeable and so humble.
    Compare and contrast him with the so-called experts of MSM
    and you know what I mean!

  55. Greg walsh

    I think you are a great interviewer. Not because of what you say, but because of what you don’t say. You shut up when your guest is talking. Very rare. Most interviewers I have seen are not content to just sit there and listen, they feel it is their right to interrupt and ask another question before the first one is answered . No, that is not an option. Is it because they want to appear erudite or knowledgeable or part of the answer? Don’t know, but it is incredibly annoying. Great job Greg

    • Greg Hunter

      I still screw up some too. Thank you for your kind words.

  56. Emeth

    I notice that Martin Armstrong has some interesting comments on the economy, gold, the Dow, Bonds, the depression etc. It is worth reading …

  57. Thomas j harmon

    Brilliant interview Greg

    • Greg Hunter

      Thank you Thomas.

  58. John B

    Hey Greg,
    You should get Stewart Thomson on if you can and ask him to explain what’s happening with gold.
    Martin Armstrong looks very impressive and sounds like he knows what he is taling about but I bet nobody truly and fully can understand most of what he says. I think Mr Thomson could clear things up. He has made comments about Martin’s work before in his paid newsletter, and he makes clear arguments.
    BTW, I’ve found his predictions to be very good.

  59. Matty

    USAWatchdoger’s, might be interested in the example of Jabez, a descendant of Judah, who was “more honorable than his brothers.” Jabez prayed to God: “O that you would bless me and enlarge my territory and let your hand be with me and preserve me from calamity!”— 1 Chronicles 4:9, 10.
    We can imitate the honorable example of Jabez by being specific in our prayers, especially by asking God to help us fulfill the purpose of what we learn here , and of course, in his word the Bible. We also can rightly ask God to preserve us from calamity, not by shielding us from its effects entirely, but by helping us all to avoid being overwhelmed with grief or the effects of evil. God answered the prayer of Jabez, and He will do the same for us, the followers of this truth and faith strengthening site!

    “Keep Your Fire Burning.” 1 Thessalonians 5:16-19. Just as a literal fire needs fuel, oxygen, and heat to be sustained, the Watchdog’s can use three components to keep their enthusiasm burning.

    First, “always be rejoicing.” (1 Thessalonians 5:16) We can gain joy—which will fuel our enthusiasm—by meditating on the blessing of being approved by God. Second, “pray constantly.” (1 Thessalonians 5:17) Prayer is like the oxygen that breathes life into a fire. We should lengthen our prayers, pouring out our heart out to God. Third, “give thanks for everything.” (1 Thessalonians 5:18) A thankful heart warms our relationships with our Lord and brothers. “Maintain the warm feelings of appreciation,” “as opposed to a cold spirit of criticism.”

    From the prayer of Nehemiah: “Do remember me favorably, O my God.” (Nehemiah 5:19; 13:31) Nehemiah was not afraid that God would somehow forget him and his work in his service. Instead, he was asking God to remember him with affection and to bless him.

    Likewise, we can trust that God will remember us favorably if we apply the basic lessons we can learn here. For instance, we should let our wholehearted love for God and fellow man be the primary motive for our preparations and subsequent survival. (Mark 12:30) Abraham loved Jehovah with his whole heart, and God remembered him with affection. Even after Abraham had been dead for a thousand years, God referred to him as “my friend.”—Isaiah 41:8.

    So let’s love our neighbors, especially our brothers and sisters in faith and of course our fellow poster’s on USAWatchdog, spread throughout the earth, whom we most likely will never ever meet. (Mark 12:31) Like the good Samaritan, who “made himself neighbor to the man who fell victim to the robbers,” we should take the initiative and reach out to those who need help. (Luke 10:36) To illustrate the point, there was a older, knowledgeable family member, known for his warmth and love. He once exhorted a young man and wife, part of the family, to be diligent in their preparations, using the expression, “early in the day, early in the week, early in the month, early in the year.” After observing them for a few days, though, he said: “Forget what I told you. You’re already working too hard. Slow down, so that you can last.” His kind, compassionate counsel has helped them to, carry on, as they behold that fast approaching great day of our God and son Jesus Christ!

  60. Christina Depallio

    So is this not a good time to buy a house? If I want, will i get a lower price house with a higher interest rate? Wouldn’t that be the same as if i bought at a higher price now with a low interest rate? This is so confusing…

  61. Eric

    OK I am a babe in the woods. Average man, average income. I hear the warning and only got one shot to invest in some actual currency. Now without being some spiteful mean internet jerk can someone please (who is immensely knowledgeable in this area) give me your truest thoughts on silver? is $16.42 an oz the best I should expect to see before this impending doom? Or is it in my favor to wait a tad bit more to see $14 or $13 an oz? I have been watching for a bit and wish to pull the trigger but if a true collapse is coming I need the best sure shot possible as I will only get one trigger pull. I know others have more income and money to play with but I truly dont and could use the best educated guess on this. ANY real genuine response would be greatly appreciated.

    • Greg Hunter

      Nobody will be mean to you here. You are welcome and there are some of the nicest smartest folks on the web commenting here. The problem with waiting for the bottom is you may not be able to get the metal at the lowest price. You may pay a very high commission as well. Back in 2009 silver dipped below $9 dollars. You could not find it at that price and if you could the commission per Silver Eagle coin was $6. My advice is to start dollar cost averaging now. We are headed for a real world calamity and this is insurance and not a money making trade.
      I would also get some food and water you can store. Anyone else like to give a few thoughts to Eric please do.

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