Fed Can’t Get Out – Buy Gold Now – Jim Rickards
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Four time best-selling author Jim Rickards says the Fed “throwing in the towel” on rate hikes is signaling a big problem for the economy. Rickards says, “The Fed was tightening to get ready for the next recession. . . . You need to cut interest rates somewhere between 4% and 5% to get out of a recession. How do you cut interest rates 4% if you are only at 2.25%? The answer is you can’t. You have to get to 4% before you can cut 4%, and that’s what the Fed was trying to do. . . . How do you raise rates in weakness to get ready for the next recession without causing the next recession that you are preparing to cure? That was the conundrum. I never thought they would get it right . . . and, as of now, it looks like they didn’t get it right. Meaning, they tightened so much to get ready for the next recession they slowed the economy.”
Rickards says, “Bernanke painted them into a corner, and they can’t get out. There is no escape from the room. By the way, one of the reasons gold is preforming so well, the Fed has proved that they can’t get out of this. They got into it, but they can’t get out of it because every time they try, they sink the stock market. They sink the housing market. They raise the specter of recession. They slow economic growth. They don’t want that. So, they sort of pause and maybe tiptoe back into it, but they really can’t get out of it.”
On gold, Rickards says, “People always say there is not enough gold to support commerce and trade and the money supply. I always remind them that is nonsense. There’s always enough gold, it’s just a question of price. At the current level of around $1,300 per ounce, that’s too low. . . . What price does (support commerce and trade)? So, if you take . . . supply and say back it by 40%, divide by 33,000 tons, that comes to $10,000 per ounce. Could it be higher? Sure . . . if you used a larger money supply, you would need a higher price. If you would use a larger percentage . . . that would be a higher price. If you do that math, you can get to $40,000 per ounce easily. I want to make this clear. These are actual calculations based on actual numbers that are publicly available for money supply. It’s not made up. It’s not science fiction. It’s just a simple question. If you wanted to go to a gold standard today without causing deflation, given the amount of gold and given the amount of money, what would the price have to be? The answer on some very conservative calculations would be $10,000 per ounce. . . . The time to buy gold is when sentiment is low and people hate it. . . . So, the bull market is intact.” We are in the fourth year. Bull markets start off slow because of all the bad sentiment, but then they gather momentum. So, it’s still not too late to jump on this train, and my expectation is this will pick up. . . . The signal the gold market is getting right now is the Fed is throwing in the towel. . . . They made some headway, but it came at a high cost because they slowed the economy . . . and they can’t continue. . . . Now, they are going to be desperate for inflation, and that is very bullish for gold.”
Join Greg Hunter as he goes One-on-One with best-selling author James Rickards as he prepares for the release of his next book called “Aftermath: Seven Secrets of Wealthy Preservation in the Coming Chaos.”
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After the Interview:
There is free information on JamesRickardsProject.com. To preorder a copy of “Aftermath: Seven Secrets of Wealthy Preservation in the Coming Chaos,” click here.
My take on this is that fiat money, which is a placeholder for wealth, is vile. Fiat money has nothing to back it up, I believe the gold standard is better but at the same time, I believe money should be value, I wouldn’t oppose our coins being made of precious metals to give them value, I know that people would claim that if that happened people would just melt the coins to make more money selling the metals but in reality, this will solve the problem of inflation because the government is not going to want to make more money if it knows that the money is going to be worth less than the materials it’s made from and this is a good thing from how I see it, if you have anything to say about this please reply.
We need to demand these politicians be convinced of treason, laws are like cheese, there are laws and then there are holes where you can avoid following the law by going inside a hole where you’re not technically breaking the law, but your still getting away with doing whatever it is the law is trying to prevent you from doing, it’s a common tactic among politicians.
I am of the opinion that it would be a good idea to issue currency notes that have gold actually embedded being that gold can be pressed down to one molecule thick. Some would say well folks would just melt out the gold … but why … you have just destroyed the note which is usable for commerce and you have a minute amount of gold in your hand that you will now do what with? Any thoughts? DB (PS, I think Karen Hudes may have rolled this idea out some time ago).
The problem having the “Gold Standard” is that it forces Governments to live within their means. That implies no $1 trillion defense budget, starting shooting wars around the world, paying NGO’s to overthrow governments. Bribing other governments to do business with you.
In other words being on a Gold Standard requires that Governments can’t spend money like drunken sailors in a red light district. That’s the problem with being on a Gold Standard. Being on a Gold Standard will drastically reduce or eliminate government entitlement programs.
The other problem with being on a Gold Standard that individuals like Jim Rickards fails to address is that we “HAVE PUT CLOSE TO 8 BILLION PEOPLE” on this planet throwing money around and designing our banking, monetary and financial systems into a complex networked globalized behemoth. Good luck trying to keep 8 billion people alive when you can’t spend well above you’re means. Try telling that to every economy around the world. Politicians around the world get votes by making promises they no they can’t keep.
Being on a Gold Standard never works because of greed and power. As soon as politicians find a way they will disconnect the gold backstop and return to a fiat currency.
The Gold standard means following the Constitution. And as DBCooper states, it would stifle all the worldwide control BS. Amen to that.
BTW We have no gold.
The politicians of today and for quite some time have seen to it that the US Constitution is no longer followed as the Framers and Founding Fathers of our great Nation, intended.
You are right but then you read about the Black gay actor Jussie Smollett who had 16 grand jury indictments and they were all dropped. So a black gay man can stage a “MAGA” hate crime and walk free. At least the Chicago PD is totally ticked off !
And if that wasn’t good enough we have politicians and government Deep State agencies looking to make s**t up about the POTUS to boot him out of office. Only in America, wow !
Trump is going to be a disaster for America by promoting shale over renewable energy. When the debt bubble bursts only California will be able to keep the lights on.
Oil murders wildlife – period.
Quite true on renewables, Greg and Shale is also a money loser if not for ZIRP. The Shale companies are losing their @ss, producing shale. You should have Steve St. Angelo from the SRSRoccoReport on one day. He follows and writes extensively on energy the dude knows his stuff regarding energy and PM’s.
And that they will, guaranteed.
The new money system will be an electronic currency that rides on the blockchain:
They are selling this to the public as a decentralized platform but they know they are the gatekeepers to the internet who will completely control who and who is not going to be able to buy or sell as this new electronic money system is fully phased in through the “aftermath” of the next global crisis:
The “aftermath” is called the “tribulation” that our Father has always planned on using to fully separate the sheep from the goats and the wheat from the tares based on this alone:
Revelation 12:11 And they overcame him because of the blood of the Lamb, and because of the word of their testimony; and they loved not their life even unto death.
The testimony of Jesus is required to stand in the congregation of God:
Rob. Folks that want to be wealthy will fall into temptation and a snare. Then many foolish and hurtful lust. The separation of man to man could be soon. The weeds will be destroyed, and the food saved. The evil is taken first then the good is magnified. Pre trib is foolishness / deception.
Being on a monetary system of intrinsic value is the common mans friend
Everyone that gets worked up over nation politicians is missing the mark
You can have any system you want, capitalism, communism, socialism, the end game is the same. Over time, a bloated system that is the enemy of a peaceful life
Any institution that has thousands of layers of government or management is ineffective due to two inescapable factors:
Incompetence and corruption
No system as bloated as ours can be fixed from within. Incompetence and corruption are systemic
Local, communal governance is the answer. Vote with our feet and let it play out.
Most rank and file employees IMO, do an honest job. However, large enough, all entities will be plagued with variable degrees of incompetence and corruption
The one positive returning to the gold standard is at least it keeps excessive government spending in check. It’s the friend of the common man
I agree Rodster…good point.
How ’bout getting rid of politicians that have been on office more than one term…which is long enough to be bribed or controlled.
Rodster, I believe Mr. Rickards suggestion for the increase in value of gold exists for the purpose of supporting a gold backed fiat currency system. As he explains in a video (available on you tube entitled Gold: The Once And Future Money) how a fractional held level of gold could support a new monetary system whereby in order to print more money to support growth you need more gold which you will have to buy on the market or from new production. The increase in supply will inhibit growth.
As you appropriately point out in other posts governments tend to overspend, which in reality is why Nixon suspended the Breton Woods agreement. Since then the overspending train as been exacerbated to the point which is clearly becoming untenable. Thus the myriad of presenters on USA watchdog suggesting a reset is inevitable.
It seems unlikely that a system whereby currencies whose sole backing is confidence in the elected officials of the country issuing that currency will no longer be accepted by either citizens burned by this existing fiasco but more importantly the trading partners of that country. Countries who are not self sufficient and capable of producing everything at the most economical level will need to offer back something of recognized value beyond faith in central banks.
If a gold standard or partial gold standard is to be implemented a price reset is required. In that video I alluded to above, he explains how that is possible and overcomes the objections against its implementation. As many people point out the problem is fat cat elected politicians who like feeding from the trough that we fill for them. The day of reckoning is coming … believe it and protect yourself with some precious metals or don’t and hope for the best.
In any case the best case for owning gold is simply when the federal reserve came into being in 1917, the average cost of a home was $5000. Today, $5000 is not a down payment on a home. Gold was pegged at $20 so an average house cost 250 ounces. Today those 250 ozs would provide a much better down payment giving you the ability to buy a home valued at $325,000.
Albert Einstein once defined “insanity” as doing the same thing over and over and expecting different results.
All fiat currencies eventually find zero value because they become debased currencies. It has happened throughout history with the same results. Backing Fiat currencies with gold, is well “fools gold”. It always gets unpegged because politicians can never say NO to votes and will invariably increase debt levels because of promises made that no amount of gold can support. It’s not theory, just reality.
And that’s what Rickards fails to mention because he knows that gold back currencies have a certain shelf life before they again become 100% fiat currencies.
Rodster, I couldn’t agree more regarding politicians … however the people who have depended upon a reserve currency and have not had a vote (over 7 billion of them) will begin voting unofficially, (of course the demonrats may want them to vote illegally anyways). By that I mean the vast majority of the population who accepted the internal corruption of the US and its now worthless dollar are beginning to have choices. Outside of complete obliteration of humanity because it gets escalated to nuclear, the fed will be handcuffed externally since foreign trade will soon be unwilling to no longer accept a currency backed by nothing but the corruption of American politics.
In the last few centuries your analysis is of course, spot on. However this is more like the power, might, and corruption of Rome. The collapse of the Soviet Union was a mixed blessing. It, in the short term eliminated the threat of nuclear holocaust and provided a degree of improved opportunity for many oppressed citizens of that bloc. It also positioned America to have absolute power which they used corruptly to an absolute level bringing us to where we are today.
Of course in America the politicians will not back their fiat currency with gold and once again begin a fiscally responsible pathway. The continuation of MMT blessed by the will of its citizens is just as likely, or perhaps more likely than the return to the rule of law.
If the president is not successful in returning the country to the rule of law the country will likely devolve into anarchy, the seeds of division have been well sown, party lines are blurred and for the most part self interests are the god of the vast majority of the politicians, which is simply the interests of the deep state. The country once known as the land of opportunity has been eroded and the wealth generated by the opportune is being vacuumed up by the deep state who have no use for the people other than as a means of production and their own personal wealth generation.
That force will more than gladly take what is left, leaving nothing but memories of lost greatness and mayhem and move on to exploit the next generation of greedy politicians in another country with a backed currency only to strip it away when they can capitalize most on its absence.
Any country who decides to back their currency with gold is asking for trouble and the gold backed currency will have a certain shelf life, it always does. The Chinese are the worst offenders. They have created and exceeded debt levels far greater than the USA. These guys are the antithesis of fiscal restraint. So if anyone thinks the United States is bad and fiscally irresponsible than the Chinese will make the US look like a frugal grand ma.
These guys are literally taking the old adage of building a bridge to nowhere to the next 10 levels. They are literally building “ghost cities” and “tearing them down” just to keep the citizens busy.
And are we supposed to think the Chinese can make the Gold Standard work for the Yuan? It will become fools gold thinking those guys are any better than the US at making a gold backed currency work. They could for a short time but it will get unpegged not far down the road.
Now if they as many say are using their gold to buy a seat closer to the IMF’s pecking order, that’s another thing but the IMF’s SDR is also a Fiat currency.
In short the world’s “eCONomies” are too globalized, too highly complex and require absolutely “INSANE” amounts of debt levels to function, let alone feed 8 billion people on this planet. The Gold Standard ship has long left the port and has set sail a long, long time ago. It won’t work in our current globalized economic, monetary and financial world. It’s like trying to fit a square peg in a round hole.
They claim Einstein was a plagiarist, so repeating the same thing paid off for him big time!
Beenanke is a lying swine.
Albert Einstein once defined “insanity” as doing the same thing over and over and expecting different results.
All fiat currencies eventually find zero value because they become debased currencies. It has happened throughout history with the same results. Backing Fiat currencies with gold, is well “fools gold”. It always gets unpegged because politicians can never say NO to votes and will invariably increase debt levels because of promises made that no amount of gold can support. It’s not theory, just reality.
And that’s what Rickards fails to mention because he knows that gold back currencies have a certain shelf life before they again become 100% fiat currencies.
My reply was meant for Paul in oz
So Rodster, paper is the answer .. get your value in paper just like the Wiemar republic did … A great example of successful fiat without anything backing it … Pay the debts in Wiemar dollars and as for feeding 8 billion people … it is nobody’s responsibility other than each of the individual 8 billion people … nobody is going to take care of you, you have to take care of yourself … take your 1917 $20 and I’ll take my ounce of gold .. we will see who eats longer. P.S. when your supply runs out, my soup kitchen will be open.
I never said paper is the answer. I said that the “Gold Standard” is not the answer because our highly leveraged and highly indebted based globalized economies are incompatible with the Gold Standard. It’s like trying to fit a square peg into a round hole.
Owning gold and silver is one thing, backing it with gold won’t work because the major economies around the world require “INSANE” debt levels to operate. If they are forced on the Gold Standard they would not be able to operate and instead, they would collapse.
Does beads better suit you? Find the flaw in Mr. Rickards presentation on you tube Gold: The Once And Future Money …. gold has worked in the past, can work in the future … of course as I have agreed with you all along … politicians with screw it up eventually, but you need more and than paper and beads to re-instill confidence …. It may be fractional (was in the past) but I say it can work. It is easy to say what won’t work … but make a stand say what will enable confidence to be restored.
“of course as I have agreed with you all along … politicians with screw it up eventually”
You answered the question why the Gold Standard won’t work. Our fractional reserve currency and banking policies require exponential growth of everything including money supply and debt to function properly.
Again the system is too highly leveraged and relies on insane high levels of debt to function properly. It’s not just a problem for the US but a problem for every economy around the world. In order for the Gold Standard to work and last the test of time, you would need a total collapse of the entire global economic, banking and financial system and replaced with a system that drastically limits spending for everyone.
You will lose a good portion of the global population because governments around the world would not have access to the levels of credit to support their economies. The current banking, monetary and financial system is designed to grow debt at insane levels. A gold standard works opposite to that.
I’m not trying to out words in your mouth but rather understand you … so what you are saying is basically throw in the towel … there is no long term solution and never will be. The current world wide debt crisis will result in massive devastation, whatever occurs after the devastation will be corrupted by politicians and there is nothing a person can do to improve the impacts of those devastating affects.
I agree the old traditional gold standard is not the answer. Do you know anything about FreeGold? If you don’t, I recommend FOFOA or THE ANNALS OF ROACHEFORQUE.
tin foil, so how is free gold different then Breton woods … US reserve backed in value fractionally at 40% at $35/ oz? or the British system backed by 20% … its all about the right price to get the fractional gold system correct … watch Mr. Rickards video on you tube. Nixon suspension of backing the $ to gold was the beginning of the failure … that is what Rodster means by politicians doing stupid things.
“… this connection to the dollar is changing, and the entire FX paradigm with it. As the dollar system is gradually abandoned, those major currencies become less affected by it – thereby “less connected ” to it – and more connected to balance sheet gold reserves. Sovereign gold reserves will become a MAJOR determinant of relative currency value, ….
We will still have debt. We will still have currencies and derivatives. But these will all be valued by an FX regime that weighs their relationship to freely traded, free market priced physical gold. Ask any central banker about the only unencumbered asset on their balance sheet, which is now declared a “tier one” asset by the BIS.”
FreeGold will be (I hope) defferent then Bretton Woods, its price will not be fixed at any price to any system nor will it be fractional to any currency – IT WILL BE THE GLOBAL CURRENCY WHICH DENOMINATION IS IN OUNCES.
When that happened, gold price will float and can no longer be molested relentlessly in the FX market, it will no longer be classified as a commondity which can be easily manipulated via the Commodities Futures. I suspect all regional currencies will be digital (NIRP if necessary) and crypto will be used in short-term international settlements denominated in ounces.
We are living in interesting times especeally in your neck of the woods. Whatever is happening in NZ seems to be a template in the making.
Good point! .. bottom line is when all else fails, gold increases in its attractiveness … maybe it will be a stupid bubble like so many other things, or maybe it will simply not be subjected to the arbitrary price increases, because as Rodster so correctly points out, the politicians will make int0 a crap sandwich if they can. All in on gold for me!
My take on the issue regarding currency (a monetary issue) is that fiat money, which is a placeholder for wealth, is vile. Fiat money has nothing to back it up, I believe the gold standard is better but at the same time, I believe money should be value, I wouldn’t oppose our coins being made of precious metals to give them value, I know that people would claim that if that happened people would just melt the coins to make more money selling the metals but in reality, this will solve the problem of inflation because the government is not going to want to make more money if it knows that the money is going to be worth less than the materials it’s made from and this is a good thing from how I see it, if you have anything to say about this please reply.
Blood & Gut’s!
Washington: The Warrior (Documentary)
Economic Armageddon May Start In Australia
We are not escaping the GFC this time, that’s a given.
It makes my difference whether we have a Gold backed world currency it will always be manipulated only this time to a higher price when more currency is needed.
Jim has lost some faith in the IMF SDR and so he should. It will just be another fiat currency and they have very little gold to back it. XRP is supposed to be the new international crypto but can we trust any crypto that Quantum computers with the help of Artificial Intelligence can break any code ? Silver may well be too important industrially to let market forces determine price. Many sources are saying there is far more above ground gold than silver. The question is, in times of market chaos , will the suppression continue to work ? In reality ,silver is far more important than gold because it has over 10,000 industrial uses. According to Jim Willie, China has already issued the Gold Trade Note and many countries already are trading directly in Yuan.While China has enormous debt and huge bubbles in real estate + shares , they have enormous industrial and technological capacity which the USA has lost.
“Silver may well be too important industrially to let market forces determine price.”
I would argue that is why market forces need to determine the price of silver. Selling silver dirt cheap has facilitated its waste in non essential products such as silver in socks/clothing, ipods etc. A fair price for silver would encourage industry to use it far more sparingly and promote the search for cheaper replacements.
A good contrarian play might be to invest in coal as when the silver runs out or is swallowed up by investment demand, solar energy is going to struggle (at least until they find an alternative).
Greg – SPM 13 years ago today. Sorry.
Resistance in NZ are having trouble getting out alternative thinking to the public against a media saturated with narrative.
OK so not censored…
Understand NZ had what many older people consider was a blatant attempt at a communist takeover. PM made gun decision by decree/dictate. Commissioner of Police demanded guns from public even before laws made and assented by Queen. Expect legal challenges including dissolution of government Whitlam style. Disobedience and death threats made. Warnings of assassinations if necessary. DOS on Police servers. Many complaints about Muslim prayers and PM in scarf. PM is not a Muslim nor a good Christian – actually a fallen Mormon with a wimp husband. PM only owes allegiance to the people of NZ and fundamentally to the Queen.
Media absolutely pumping white supremacist narrative for week as a pervasive problem. Stefan, Milo and Lauren demonised again. Ike seems to have been conveniently kept out of Australian tour at same time. Anyone likely to think and speak to the public removed. Draconian censorship laws to prevent examination of facts – several common people charged as an example to others. Later Day Saint Jacinda made to look like Mother Theresa – even talk should have Nobel prize. No ability to post differing views to articles etc. No comments allowed. Only official story telling people what to do and think revised as necessary to fit things revealed. People encouraged to emote and sympathise with the loss rather than think about what actually might have happened. Totally exaggerated response. Kindergartens against guns – we are all Muslim now sort of stuff. There is no native threat or endemic problem. Shooter imported from Australia most likely because local skinheads not really interested. Unnecessary displays of force and menace since as armed Police visible on street giving notion they will shoot to kill on sight even though sole ‘terrorist’ arrested very quickly. Some articles emerging with idea of turning in suspicious neighbours. Resisters with family feel some intimidation to speak up with their opinion as climate has been set to demonise white males etc . Active resisters expecting some sort of detention or blacklisting for taking a stand. In the past Army have had drills to round up terrorists and dissidents.
Japanese almost made it to NZ in WW2 except for Americans. Absolutely need to hold arms for self defence. Police try to strip everyone of the right to defend self for own convenience and sick entertainment. Not practical as they are always too late to a crime scene. They were late to this one as well and it is obvious 5 eyes didn’t pass info on. Police at top with attitude problems have been well played and exploited.
Thank you Neil for that powerful testimony from the street.
Our most prosperous period was while we were on the silver standard. Once Nixon took us off it, the Fed gained more control over the money supply and everything started to go to hell. Let’s just return to the silver standard even is a $1 has to equal 1 gram of silver – or whatever. Probably won’t happen because Congress is too busy hating President Trump.
John Fitzgerald Kennedy
The silver backing of dollars.
JFK was in the process of creating a physical silver backing standard, when he was assassinated. It had gotten so far as the Treasury printing truck loads of US dollar silver certificates. When LBJ ascended the presidency on Kennedy’s death, the first thing he did was order the destruction of these silver certificates and the sale of the physical silver reserves. Hmmm…
Silver backing of dollars –
For further information on JFK’s executive order #11110
Read the book “Crossfire” by Jim Marrs.
You present a very interesting case. There is actually a Wikipedia article on this. It is strange–they seem to indicate that JFK was against silver certification as late as Nov, 61, but then apparently became convinced that worse things could come if the USD didn’t have some metal backing it.
How would they pay for all the wars if they did that?
this what I was saying last blog, this zero hedge article confirms my view:
“US Completely Invalidates All Of Its Own Arguments About Crimea”
Yet, another confirmation of my views previously on Venezuela from this zero hedge article:
“Russia Gives US Red Line On Venezuela”
I said it before and I will repeat it, Russia will do in Venezuela what she did in Syria and Mr. Abram who snapped at Rep. Omar when she confronted him with his euphoric stance on his massacres in Nicaragua leading to regime change is going to get a bloody nose in Venezuela.
US will fail in Venezuela the way they did in Syria.
They drove the country to abyss with sanctions under our wonderful POTUS and both US and Russia will burn the country to the ground, my prayers to the innocent people that will perish in this reckless criminal behavior the way Syrians did.
From same article I am quoting:
“Abrams is no ordinary diplomat. He is a regime-change specialist with a criminal record for sponsoring terrorist operations, specifically the infamous Iran-Contra affair to destabilize Nicaragua during the 1980s.”
What am ASSet our POTUS has added to his cabinet…!!!!
How do you reach that conclusion I have no idea.
Russia is RUTHLESS and they decimated my mother land to literally ashes.
However financing TERRORIST by US participated in that decimation.
My point here Greg is:
ALL ARE IN CAHOOT.
And the playbook is played in Venezuela the way it was played in Syria.
It is an observation I am making here, so please do not lay on my words what is not intended, I am a voice of wisdom here, do not shoot me down with a claim that US is not good enough for me, IT IS MY ONLY HOME LEFT FOR ME, I DO NOT WANT TO LOSE IT.
You are talking apples and oranges! Mohammad represents the Syrian/Muslim world-view who are looking for a tolerable master in which to grovel in mutual coexistence with Sharia Law. Americans on the other hand are looking and willing to die for those antiquated western ideals of justice and liberty. Just as there is no difference between the Allah and God (sarcasm)…the vision we share for the future of America also holds little similarity. SOD
Our policy of harvest and destroy is not any different from the harvest and destroy of communism, I beg someone shows me the difference, had we had the wisdom to have a policy that wins hearts we would of won in lots of places from South America to Middle East, so it will boil down to elephants fighting squishing the grass that I am praying for all along.
DO YO SEE MY POINT?
PLEASE TRY TO …!
Two wrongs does not make it right.
If America had not destabilised it in the first place Russia would not have needed to go in. Not the first time Russia has needed to clear up your message (remember Syria?).
not for long, 10k a day are dropping out if the middle class, in 10 years this place will be worse than Venezuela . Greg, you say ” provided for”? you sound like a commie, nobody is entitled to anything, it’s eat what you kill always has been, always will be. Ricards is one of the best snake -oil salesman , he is CIA all the way , when I heard him say inflation had only reached 2% I turned the interview off, as John Williams will show you with solid statistics, inflation in the US is around 10% right now, so anyone with a fixed income will be dumpster diving in 5 years . and of course as I have said before the dollar price of gold will never keep up with REAL inflation , so more and more the average American falls further behind each year. why do you think homeless are growing exponentially? The big problem as always is GREED the FED , the banks , and big corporations, who have commoditized people . if the problem is to be addressed , businesses must step up ( as Henry Ford once did) and pay folks more , but without a government mandate , not out of altruism , but because it is GOOD Business , Henry Ford understood this , but guys like Bezos, Gates . Apple and the rest don’t get it, pretty soon nobody will be able to buy their products , they are shortsighted and GREEDY
And Henry ford trusted Muslim Yemenis and accommodated them to Dearborn MI because they are hard workers honest people ethical and no DRUNKS that do not see where the bolt goes….
He trusted Americans too.
Are you implying Whites are drunks that can’t put cars together? I suspect you are because you have consistently shown an anti-white bias in your posts.
Doc, Be honest with yourself for once: you will be happier in the miserable
dust and tyranny of your beloved Syria than the comfort of the free USA, which will never measure up in your eyes. Your reliance on ZeroHedge as a favorite basis for your conclusions is misguided. I believe you are genuine in your beliefs and a thoughtful man of integrity, and I appreciate your contributions here, but your heart is elsewhere. Follow your heart. Best always. PM
PfI, In my opinion you give him too much credit for honesty and intelligence and are inviting destruction and desolation. The good ‘doctor’ functions in denial and deceit.
Yours in Faith and Liberty, FN, DB.
Sometimes you gotta take the high road. Keep on keepin’ on, Bro! Many thanks and best always. PM
Once you stop funding, training, mobilizing terrorists to Syria
Yet, another confirmation of my views previously on gold and silver from this USAWatchdog article:
“Fed Can’t Get Out – Buy Gold Now – Jim Rickards”
Hey Mohammad – go back to your home country and MSGA! Last time I checked, the Russians were invited into your country by your elected leader to help restore order after many years of civil war – we do not want that here. What makes you think we failed in Syria – the failure was that of the Syria people who over-populated their land and then formed sects to war against each other for the dwindling resources. The only people that could save you were you – and you decided you had created such a mess – you needed to get out. You are a coward.
I am staying here.
wether you like or not.
Am here to stay.
Whether you learn, “doctor”, to spell or not. By the way, this man, an ex-Muslim, has some very telling perspectives on Islam. His view has the ring of truth. What do you think of him? There are more and more Muslims leaving Islam the more they are exposed to the liberties of the West. And so there is hope for us all.
Greg, You are doing a huge disservice to your listeners by recommending they buy gold. I can assure you that anarchist “Make America Great Again” terrorists who hoard gold will be looking down the barrel of a gun at 4:00 am in the morning when a no knock U.S. National Guard raid happens to them and all their belongings are confiscated for challenging the sovereignty of the state. Those that make sudden moves however innocent may die in a hail of bullets as our men in the service are trained to kill the target in a hail of bullets just just like the video game. Short Story ? DONT BUY GOLD ! Unless you want that no knock surprise some morning. Dont bark up the wrong tree, Greg !
Greg is right Gina!
Gina’s predictions have always been 100% wrong.
I’m no “gold bug” , but with Gina telling us NOT to buy gold…..good enough for me.
I’m buying in!
Yes in NZ and Aust the catch word is Right Wing Terrorists used by our political leaders and MSM after the Christ Church killings. Conservatives are usually for country and keeping culture that works and this is their new ploy to bring in Global Governance of the communist variety. Destroy the family and make all dependent upon the state. Total enslavement.
There you go again with your “I can assure you….” crap. I remember all of your past “assurances” that Trump wouldn’t win the nomination, then he wouldn’t win the election, then he wouldn’t take office, then he wouldn’t last ….blah, blah, blah. Don’t you ever get tired (and embarrassed) at being SO WRONG, SO OFTEN?!?
Greg, thanks for allowing even the most ridiculous postings be presented on your forum.
I say it is ridiculous for a number of reasons. Firstly, Gina provides absolutely no alternative action a person can take to address the clear and obvious problem created by the ludicrous debt level which beyond a doubt devalue existing fiat currency.
Secondly, before national guards break down doors, draconian laws will need to be enacted to make the holding of gold illegal. Although this is altogether possible since it occurred in the 30’s, it is a bit of a warning to the so called maga terrorists who may also have their hoard in privately held vaults, or in the form of gold backed crypto tokens.
Thirdly if social order breaks down in the US beyond what has occurred in countries who have far less regard for citizen rights to the point physical expropriation occurs patriots will not stand still rollover and accept tyranny.
It is truly hard to believe a person with such moronic thinking actually spends any time watching any of your attempts to help people prepare for what clearly will be a very difficult financial period for all countries.
“Gina” is here because it’s his/her JOB. Or, Satan has internet access. Everything Gina says is PUKEY and revolting. It’s the kind of crap demons would speak through a person who is posessed. Vile in the extreme.
Gina, Your comments seem almost psychotic? Maybe even a bit over the edge or in a panic? Are you close to this all ? or a desperation setting in? I do hope the Mueller ‘investigation?’ cover-up and ALL evidence is released including the Weiner laptop insurance files and Hillary emails the clean up crew has not allowed …but do hope everyone does take Bernie and Nader’s and Schumer’s advice and releases everything and is supportive of a new special council to cover the other side= fair and balanced as they say… Some new stuff from Canada is making the way to help it seems and had some new wrinkles as to reasons behind so many oddities this past decade=
or maybe you can help explain some of this while those here hope to help POTUS re-industrialize the U.S., wrestle the tentacles of the huge octopus that is strangling the world via the banking cabal…and energy produces that take the substances (natural resources) and suck the life out of the earth and it’s people for themselves! Greed & Power is the name of the game…and identity politics are the tools! Drop the hyphens, the religions, the classes, and races… People need to dump ‘party’ and tribes and just be human. And it seems clear those you endorse ARE NOT…though there is enough out there to pass the blame beyond ‘party’… seems there has to be a time when the people really do say ENOUGH …and deal with it affirmatively… Enjoy, it’s rather like a mirror which I can not believe you can be comfortable with…
Oh my goodness Gina more? Are these some of your friends too?
””clean up on isle 9””?
and NO we do not want another ‘commission’ to look into stuff like JFK, 911 etc…. (commissions are where the facts go to die- we need aggressive honest investigative police work AND GRAND JURIES! before those actually involved die off or fade away. As for ‘Fox and Friends’ how about maybe they are getting it wrong….much egg on the face coming for them soon Thinking one needs to get a map like in the movie America Gangster and pin up where and when all the dead bodies wash up or bankers, attorneys, immigration ecb5 visa people, truck and shipping crews and Hollywood celebs and computer techs. Seems there is a difference it seems between Russia Russia Russia…and Ukraine, Ukraine, Ukraine, Iran Iran Iran, and Pakistan Pakistan Pakistan?
The books =None Dare call it a Conspiracy, The Unseen Hand, Thy Will be Done, The Secret Team, The Rise of the Fourth Reich, The Brothers, Obstruction of Justice …dove tail like a 10,000 piece gig saw puzzle? maybe a change to ‘if the glove fits one must convict’…have ‘they’ been planning to add Trump?
If the people vote in a democrat president will the US government kill gold holders Gina? Is that what you are saying?
Greg, Interesting but old news. The United States was built on a system known as
the American System of Political Economy. To find out what that is in our fake news, fake history (Ivy League re right of history), in a culture where some of the citizens don’t know if they are a boy or girl, is no easy task. The easy way to school yourself on The American System of Political Economy is to go to LaRouchePAC . Other sources which are harder mentally to understand (again fake history) read Henry C. Carey, F. List, Alexander Hamilton, E P Smith, Green Back Currency Lincoln or FDR’s New Deal, again it is a difficult task to get an true economic history for our country. In short a National Bank with low interest long term credit for building national projects, industry and agriculture and a commitment to the general welfare of the population, NOT the private banker or Wall S. . Gold and Silver were always a touch stone of value for our national credits and currency as were the hard labors of The American People. You will find out that Donald Trump’s Enemies are same as George Washington’s.
Thanks Greg, as expected this was a great interview. I know Jim Rickards has discussed gold previously, but I don’t recall him going into such detail on how he arrived at the $10K per ounce number — excellent tutorial/discussion. Thanks again.
Jim Rickards says to “buy gold now” … however … what if the banksters are as crooked as I think?? … it may pay to wait one week … just until after April Fool’s Day passes (in case you may get it cheaper) … if the banksters don’t drive gold down … then by all means … buy yourself some more gold and/or more silver!!
Been following Rickards and his work for years, having read some of his book.
But I have come to the conclusion that: RICKARDS IS A PAID SHILL FOR THE ESTABLISHMENT.
I will easily PROVE my assessment by providing EVIDENCE to back it up.
To do this, first, here are two of his statements (which he has made not only in this interview but the previous ones on USAWatchdog as well):
1) In this (and previous interviews) he states that inflation is “steady” at 2%.
2) “It’s mathematics”, he says: Gold can be valued at [US]$10,000 (or much more) an oz given 33,000 tons of **global supply*.
For the 1st statement: Why the heck would an intelligent guy like this utter that inflation is at MERELY 2%???
And also say that the Fed “wants” inflation but can’t get it. I call his BS on this! He knows VERY WELL that [REAL] inflation is NOT 2% or ANYWHERE NEAR IT. Your previous (impartial) guest John William is more on the money with inflation which is more at 5x what Rickards states – namely at 10%, not 2% (see http://www.shadowstats.com/alternate_data/inflation-charts).
Brief, there is no way a man of this intelligence would utter such nonsense, unless he is doing so ON PURPOSE (i.e., to make the Fed NOT look as bad as they REALLY are and have been for decades!)
Next, for his 2nd statement about gold. His fuzzy math DOESN’T ADD UP AT ALL.
Firstly, he is pricing Gold SOLELY in $US which is a fallacy, as gold has gone decisively up against virtually ALL other currencies except the US dollar in the past year. So, such “theoretical” pricing is pure nonsense and meaningless.
Also, he is assuming (or doesn’t explicitly state) that this revaluing of gold would be in US dollars – but what about other currencies? If it would only be in US dollars then of course HE CANNOT use 33,000 tons but would have to use [at most] 8,000 tons.
Moreover, he NEVER EVER mentions that the “official” reserves of Gold held by the USA which is stated by the World Gold Council is at around 8,000 tons are most likely ***NOT ACCURATE / PROVEN / CONFIRMED***. He NEVER mentions that neither Fort Knox nor the Fed have been AUDITED (in terms of their gold holdings) in over 50 years.
And he also does not mention the multiple rehypothecation/lending, i.e., ownership/claims on the SAME bars of gold claimed by MULTIPLE PARTIES. So, assuming that the US indeed has this gold in the first place is an assertion that he is BLINDLY making. It is more likely than not that the US has far LESS than its stated reserves. So, a careless assertion/assumption on his part.
Also, for the 33,000 tons number, he seems to be ASSUMING that – whoever holds the other 25,000 tons would be WILLING to back the US dollar (yes US dollar) (otherwise would he be stating a new “world currency” – he is not clear at all on this). Do you REALLY think Russia, China, and India would use *their* gold to back a new US dollar after their decades of mismanagement of the world’s reserve currency? (even an SDR from the IMF – which Rickards often states – would be unlikely that these eastern giants would be willing to partake, as the IMF is directly controlled by the US + Banking Cabal)
Thus for #2 and gold pricing, how the heck would this make ANY SENSE? Really bad analysis and assumption altogether.
One has to wonder if he is making these insane assertions in order to sell more books or to keep the [false] hopes up of the little people (i.e., us), or both.
Furthermore, he ADMITEDLY states that he was special counsel that helped SERCURE A BAILOUT for LTCM (one of the biggest ponzi schemes in US history) to the order of $3.6 billion at the time – an extremely huge sum which inherently was PAID FOR BY THE US TAXPAYER. Moreover, he seems to take PRIDE in his partaking of this huge theft.
Lastly, he has been uttering these two things from above for YEARS now.
So, please anyone prove me otherwise that he is not a PAID SHILL for the Banking Establishment (and/or Fed) and part of a huge deceptive MISINFORMATION CAMPAIGN.
I backed up all my assertions with FACTS, so please do the same if you wish to counter them. We all need to have a much more HONEST discussion; otherwise we will continue to be DUPED and MISLEAD as fools to slaughter.
P.S.: I challenge Mr. Rickards to personally rebuke any of my statements/assertions above; if he has the guts of course.
From the book “Communiqués From The Vast Right-Wing Conspiracy” (Thomas Wigand):
When the next “financial crisis” hits, and the present activities of high finance, government and NGO’s seem to be making this inevitable, the result may well be a “SHTF” of historic, even Biblical proportions. Leverage will do that. Just imagine what will occur when what remains of the middle class finds out their bank accounts have been forfeited to bailout holders of derivatives … even as welfare nation may find that they EBT cards no longer work, or are rendered valueless in a hyper-inflation. Little wonder that many in high finance are now plotting their escape.
Now ponder if this is could all be a set-up by the Collectivists-Progressives – a form of Cloward-Piven strategy applied to macroeconomics and fiscal policy. Are they harnessing the greed of Wall Street et als., intending to later (proverbially) hang them? Alinsky were he still alive, and his ilk skulking around today, certainly hope for a fiscal crisis that could be used to disillusion the middle class and poor, to claim that free-market Capitalism doesn’t work, and to exploit that rage as a catalyst for revolution:
“There’s another reason for working inside the system. Dostoevski said that taking a new step is what people fear most. Any revolutionary change must be preceded by a passive, affirmative, non-challenging attitude toward change among the mass of our people. They must feel so frustrated, so defeated, so lost, so futureless in the prevailing system that they are willing to let go of the past and chance the future. This acceptance is the reformation essential to any revolution. To bring on this reformation requires that the organizer work inside the system, among not only the middle class … A reformation means that masses of our people have reached the point of disillusionment with past ways and values. They don’t know what will work but they do know that the prevailing system is self-defeating, frustrating, and hopeless. They won’t act for change but won’t strongly oppose those who do. The time is then ripe for revolution. ” — Saul Alinsky, Rules for Radicals: A Practical Primer for Realistic Radicals
By no means is this intended to excuse the greed and shortsightedness of Wall Street and financiers across the globe, but consider the possibility that they too are being used as part of a big set-up to create fertile ground for revolution.
“There are no morals in politics; there is only expedience. A scoundrel may be of use to us just because he is a scoundrel.” – Lenin
Interesting move by the fed to say no more rate hikes…They must of thought this dovish action would push the markets higher….Ill have to admit i dont ever remember the fed
saying in march, that there would be no more rate hikes the rest of the year…Were they worried about the inverted curve ?…..hopefully everyone here has at least some gold or silver…. 40,000$ gold is fantasy ,,, nobody is going to buy it at that price and no one is going to trade their home for a few gold coins….Many have said 5000,to 10000 gold and 150$ silver, that seems logical…..The world will never go back to a gold standard,, its to honest and there is no room for deception, the next currency we see will be the same for everyone…Trump being reelected in 2020 will hold off our misery a few more years……One only has to turn on the news to see the days of sorrows
I will clarify one thing, with high inflation and a loaf of bread selling for 50$ , in that atmosphere we could see 40,000 or higher gold, the sky is the limit if your using monopoly money
Thank you Greg good job.
Rickards says “Inflation is nowhere to be seen ”
I beg to differ..all of the following have gone up for me….. right now multi- pules of the government inflation statistics …just for starters…. food – Gasoline ( 30 cents up in the last 2 weeks & spring driving is weeks away ) – property taxes – car insurance – auto parts & repairs & last but the greediest…… Medical & BIG PHARMA ………. Inflation running at “half of 1 %” ………LMAO ……what universe is the fed living in ?
I always remind myself regarding the fed
( ” Figures dont lie – But liars sure can figure ” )
We need to end the out of touch corrupt money changing federal reserve – imf – bis .
Our national debt clock has gold at $5,306 and silver at $656
that’s about a 1 to 8.5 ratio
What did Rickards mean?? … when he said: “the future is not going to be us living in caves surviving on our food rations but more like America in the 19th and 20th century”??? … isn’t that the time of America’s “Industrial Revolution” ?? (and our “Great Depression”)?? … the Industrial Revolution was a very prosperous time … it was good time to be alive … a time when people were working and making a buck (when a buck was worth a buck (100 cents)) … but he also seems to be telling us that … in order to get to that “promised land” we must get through a coming currency re-set with some “real wealth” intact in our pocket (is it so that “we with the gold” can be the driving force creating America’s new businesses and infrastructure??) … while those “without gold” will be the ones who suffer a personal “Great Economic Depression” ?? … as the value of all their paper money (they saved “thinking it was a store of value”) becomes worth less?? … seems to be a Tale of Two Cities!!
Were we given “enough time” to buy precious metals (for us to become the “wealthy elite” in this coming Industrial Revolution Rickards sees?) … it seems the “engineered crash” (monetary re-set) is just about upon us … why has the Fed destroyed money and tightened into economic weakness over the past year? … was the reason to turn the yield curve negative? … and has Trump’s trade wars and recent summit failures also happened for a reason? … look at the timing of the Brexit chaos happening right now across the pond … is it all “designed” for a reason?? … are the globalists “now pulling the plug” on the world’s economic life support system?? … did they allow Rickards to give us fair warning for a few years and keep the price of gold and silver “low” just so that they can have a clear conscience? … and wash their hands (like Pontius Pilate did) before the Money Changers implement their economic “Final Solution” on God’s children??
You know how whales release “bubbles” in a circle to herd the krill into the center and then come up with their jaws wide open to swallow up and devour the corralled krill? … well the Fed creates bubbles also … and “positions their kill” by creating bubble conditions where there is “no return on capital” … in such conditions “their kill” won’t deploy capital in real assets … and will tend instead to hold “fiat paper CASH” … cash that “will be devoured” in a jaws of the banksters currency re-set devaluation … got real assets? … got gold?? … got silver???
On April 1st the banksters will make gold a Tier 1 asset … now let’s try to think like a crooked bankster … why would the banksters choose “the 1st of April” to make gold a Tier 1 asset??? … do you think perhaps to make gold look like an April Fool’s Joke??? … as they “drop the price of gold on that day” to confirm in people’s minds the worthlessness of gold?? … don’t be fooled by their likely manipulation … rest assured “gold is no joke” … for the banksters will be converting all their paper debt assets into gold “hand over fist” if they manufacture an April Fool’s Day drop in gold’s price (but China and Russia will obviously be stepping in to buy massive quantities of gold “to take advantage of any manufactured downturn” which should help to stem the downward price slide in gold somewhat) … but rest assured “as you also take advantage of any such downturn by buying more gold” … as the banksters are in a bind … they must eventually push the price of gold upward by at least 10 to 20 times “or more” … to bail themselves out of all their worth-less fiat paper currency, notes and bonds!! … so as Greg says so often “fear not” … gold is “God’s money” and he is in charge of making it “in limited quantities”!!
We had the same reflection has you when he said this. ” the future is not going to be us living in caves surviving on our food rations but more like America in the 19th and 20th century”??? ” This doesn’ t make any sense to us also.
He said to buy silver to barter but food buying canned food wouldn’ t help? Maybe Greg can explain this.
Also when he said their is no inflation , I don’ t known where he is buying is goods but they is inflation and John William also said so.
A gold backed currency would end up like the COMEX inflated 250-1
Greggie! I would STRONGLY urge people to have a look at this. Much love, Greg M. “A Deliberate Act.” Click HERE: https://www.youtube.com/watch?v=Pdwg9QNEXuc
There will be no soft landing.
Hi, Greg. How’s the troll-bashing going?
Greg Mannarino got some of his videos taken off of Youtube. He probably told you already.
The Fed is not an island in the world of money. QT is just a transfer of debt from the Fed to the Exchange Stabilization Fund (Rob Kirby confirmed this). The official inflation rate is a lie to make a decade long recession look like “growth”. The globalist cabal behind the global banking system has the biggest criminals in world history. Even Jim Willie has trouble expressing the magnitude of the criminal conspiracy.
Thanks Greg for the great interview. Rickards is well spoken and knows economics well. Bernanke had no right to experiment with the American economy. I wish I could afford a monster box of silver liberty eagles. I agree with Rickards that going back to an economy like the world had in the late 1800’s, early 1900’s is the answer. Thanks again for the interview.
Greg, none of my comments are coming up.
Regarding the banking system’s change in gold to a teir I asset, Jim Rickards said:
“I think it’s symbolically important, but I don’t think that by itself, at least in the short run, is gonna have much impact on the price of gold because US banks aren’t going to
use it. In other words, are they allowed to – yes – but the only banking system in
the world that I’m aware that’s actually using gold, where the banks have gold on
their balance sheets (and yes it’s a good Tier one asset), is Turkey. I’m not aware
of any major banking system that’s doing this.”
To me there is a problem with this conclusion. If gold is so unimportant, then why upgrade its status to Tier I???? If you have no intention of using it, why make this change? To fool everyone into buying it despite the massive effort in holding down the price? I highly doubt it. US banks may not use gold but you can be sure Chinese banks will, as will Russian banks, along with any other bank that has it. I am strongly suspicious that there has been an ongoing organized and purposeful effort to financially wipe out the US and Western world. But you know what – if true, then those behind the scheme are going to get nailed. They will lose 100% of everything – and I mean everything. They can no longer hide behind a corrupted and rigged system such as in the past.
They (Unelected Rulers) are Masters of the Hegelian Dialectic …..problem, reaction …..solution.
Bankrupting the World is their MO…whilst ensuring an ongoing divergence in wealth.
Gold may well be classified as a Tier 1 Asset, but again all that implies is that the financial wizards can & WILL use fractional banking to whatever degree they choose.
We all agree that the current path of Money creation (DEBT) is unsustainable. The world is saturated. However the critical issue is one of not being able to force the public to spend money. Credit issuance has fallen off a cliff. This creates a virtual downward spiral for economic conditions.
The mantra of Inflate or Die….has not succeeded. Normalization and QT are absurdities. The only path is to continue Inflating whilst reducing Interest rates to Zero then to a NIRP. That is when the implementation of the Reset takes hold. They created the problem, we are witnessing the reactions /consequences……they are ready to provide the solution. The Solution (for them & US) is not GOLD. It is an Electronic Currency that is fully Centralised.
I understand that JR along with the likes of Jim Sinclair, Egon Von Greyerz (and many others) purport that Government (International) Debt can be balanced with a revaluation of Gold to circa $10,000 or more. That may have been the solution for a distant past. But it never resolves the issue/necessity of compounding money creation. In other words it would need to be an ongoing adjustment. A more feasible and acceptable process (for the Elites) is to create a System of Electronic/Digital currency where the requirement to spend is imperative – lest you accept that the Banksters will charge you for holding money in their Banks. NIRP is coming to America as is the Age of Electronic Currency with all of its nefarious properties.
War on gold and the financial endgame.
For those wishing to gain insight into what is about to occur read:
“The Big Reset (revised edition 2015)” by Willem Middelkoop
Highly recommended reading for the serious financial mind.
I do differ with Jim on the outlook for silver and believe that it offers additional leverage vs. gold. One of the reasons was actually embedded in his follow-on comments, when he said that silver could be used for barter during a period of crisis, when banks and ATM’s are not working. If that is true, then it could result in a premium for silver vs. gold.
Secondly, the current gold/silver ratio is out-of-whack relative to historic norms and silver could out-perform simply to bring the ratio back into a more typical alignment. Third, as the prices for both metals advance, gold will become increasingly out of reach for most individuals. Thus, in turning to silver as a substitute, it may climb more in percentage terms because of that extra demand among the masses.
Finally, I will repeat something I have said before. Should the U.S. enter into a hyper-inflation, the difference between $10,000 an ounce and $40,000 an ounce will become meaningless. If you sell your metals at ANY time during a hyper inflation, you will be no better off than those who never had them. For example, if gold is $40,000 one month and $1,000,000 an ounce a year later (during a hyper-inflation), then of what benefit was it to sell it at $40,000. The only way to maintain your insurance policy, is to hold the metals for the DURATION of the crisis, until you emerge out the other side with a new currency that is backed by something real. At that time, the metals could finally be re-monetized back into currency.
The benefit of selling gold early may be to clear your debts. For example, you have 100k in debt and you have 10 ounces of gold that you have been holding for years at an initial outlay at 13K. Gold goes ” stupid” under the current currency system and you liquidate your gold to cancel your debts. This would be smart as you enter the other side of a reset debt free. You have to do this prior to the reset because with the reset there will be a revaluation of your debt. The trick is to have debts cleared prior to the reset with golds price appreciation but enough gold intact in your possession on the backside of a reset to start over. Consequently, any plan of accumulating gold has to be associated with a reciprocal action of retiring debt as this allows for debt retirement with gold appreciation but also acts to protect your gold liquidation as it will require less outlay to clear financial obligations. Now lets just say that gold is to become a tier 1 asset for the banks come this April and it starts moving higher to say a modest $2000/ounce and you are holding 200 ounces with 100k in mortgage debt – could you then just show up at bank “x” with 50 ounces and eradicate your mortgage debt? Could you show up with 20 ounces in order to get a certified check to go purchase a car?
I would like to add something to my previous remarks regarding silver vs. gold…
However likely or unlikely it is for the U.S. government to once again outlaw the ownership of gold, I think they are even less likely to outlaw the ownership of physical silver. If I am right about that, it would give silver one additional important advantage.
“Don’t fight the Fed” has provided investors with solid guidance for over 20 years. The re-emergence of central banks’ gold buying for holdings diversification and emergency liquidity is an omen to all investors. If you do not have gold in your portfolio now, it’s a wise time to start accumulating.
Studied portfolio diversification dictates only 5-10% gold. Mr. Rickards termed ‘Chaos’ is great for selling books but shouldn’t confuse investors on how much gold they really need.
Investors are becoming aware that Government and Central Banks’ experiments of economic stimulus for cash flow generation to service and pay down accumulated debts has failed. That leave them with only one non-‘chaos’ choice, debasement of the liabilities. As currency values decline, fixed ‘asset’ values rise. Gold is not alone in the fixed asset sphere.
Don’t fight the ‘Fed’s’.
Jim Rickards has many more connected brain cells than I ever had, and a fantastic power of recall – probably, second only to George Galloway. I bought and read, cover to cover, Jim’s book, ‘The Death Of Money’ published in 2014. That said, while he appears to be expounding ‘revolutionary’ views, he is an inveterate insider – having participated in governmental war games. Having read one of his books, and having listened to many of his interviews, I believe the listener should be alert and sceptical.
Jim starts the interview with a confident assertion that, ‘Inflation has been nowhere to be seen’. Really! Try telling that to people on modest incomes who have suffered increases in the prices of energy, education, health, local taxes, travel. Add to that, the covert inflation represented by the ‘shrinkflation’ of food packaging – same price for less quantity! Perhaps Jim also failed to notice the massive inflation of asset prices – stock and bonds. Really, is that possible or is he simply supporting the establishment narrative?
Everyone who has ‘taken the red pill’, surely the majority of your listeners, knows that the official inflation numbers are a crock. Constantly manipulated to keep the appearance of inflation low. This diminishes increases in social security and also falsifies GDP growth – if the real rate of inflation, per John Williams’ ‘Shadow Stats’ of between 8% and 10% p.a. were factored in, GDP would show consistent negative growth.
Also, In ‘The Death Of Money’ Jim waxes lyrical about the SDR taking over in the event of a fiat currency collapse. Who would have any faith in a basket of collapsed fiat?
Jim talks a good talk, but, buyer beware! Just saying.
Indeed. And he asserts there are 8,000 tons of gold still inside of Ft. Knox.
Totally agree AndrewB. I disagree on his silver viewpoints. o me his totally misses the mark on silver. And inflation…your statements are totally fact. Jim is always worth a listen for quality nuggets but people need to understand his background.
I always enjoy J.R. and will buy his book. Thanks!
As you say: We need to get ready and stay ready.
The ride only gets bumpier from here. We are going to win this war, but it’s far, far from over. And wars are VERY messy.
New Jersey wants to take away our Second Amendment rights … but look at the work around the Patriots are giving them … https://www.youtube.com/watch?v=U9zio3k3eVk
Rickards is the only guy that I have heard that actually makes sense when talking about gold. Many others seem to waffle a lot, and make these conjectures, but Jim is remarkably consistent in his story, and has a reasonable rationale for his statements. Who really knows if he will be right, or whether gold can actually go up much, without continually and repeatedly being suppressed by all of the central bankers who are trying to ‘hide’ inflation. The suppression is unreal, and is costing billions of dollars (if not now cumulative trillions since its been done for so many years) in the use of paper derivatives, but its all using paper US dollars, which has also been heavily devalued anyway, via ZIRP and QE.
So I guess the FED and global central bankers must figure so much of it is being de-based anyway, and since they can print it out of thin air, why not use it to devalue and suppress gold, via shorting derivative plays. What a REALLY rotten game though, for all US citizens, and even the world, who actually believe the US dollar has some real value left, since the appearance is being given, that gold isn’t rising very fast vs the dollar, and a pretend level of small inflation is all that is happening. Of course those of us here, know factually that inflation is out of control, with plenty of hard evidence, and then people like John Williams at Shadow stats doing a fine job of backing that up with REAL facts and numbers.
It is frustrating though, that gold and silver can be so easily suppressed.
After 74 years isn’t it also time for Trump to fully recognize Germany’s Sovereign rights regarding its critical and strategic oil and gas supplies and its trade with Russia (which provides security not only for Germany but for the entire Euro Zone Region)?? … and hence … by Europe being friends with Russia we can abolish NATO and bring American boys home … which will help to reduce our trade deficit and provide funds for rebuilding our infrastructure and re-industrializing … this way we can eventually go to a Treasury “gold backed” dollar … which will help us keep our status as a Major World Power … or would we rather become a Third World Nation with a Zimbabwe currency??
Greg, next time you have Bill Holter on, ask him what he thinks of Jim Rickards?
If gold is going to go through the roof why would there be anyone selling it? You would have to be stupid to sell in those conditions.
Trump is safe Greg, he has the backing of the Pentagon.
The people have become tired of so called civilian public servants who think they are political experts, without any real credentials or policies to back them up.
Back a business man or someone connected to the military. The citizens of Thailand have spoken and a few more countries may follow this new trend.
From the Washington Post, March 24th:
Conclusion of Mueller probe raises anew criticisms of coverage
“Nobody wants to hear this, but news that Special Prosecutor Robert Mueller is headed home without issuing new charges is a death-blow for the reputation of the American news media,” Rolling Stone’s Matt Taibbi wrote in a column published Saturday, a day before Barr nailed the collusion coffin shut. He added: “Nothing Trump is accused of from now on by the press will be believed by huge chunks of the population.”
Didn’t we just have a banking royal commission here? These clowns are still lying even when all the indicators are pointing south.
From CNN Business:
An inverted curve has been a reliable predictor of a coming US recession for decades. But market experts advised investors against panicking for the time being.
Strategists at the Commonwealth Bank of Australia said that while the inverted yield curve is “an ominous sign,” they aren’t predicting a US recession anytime soon.
Craig said he interprets the US bond market move as a sign of slowing economic growth around the world.
“This means that we don’t expect the market to collapse, but neither do we expect equity returns to be that inspiring from here,” he added.
Seriously, ATMs don’t work, banks close and you can’t access your funds but it won’t be that bad in the long run and we will all make it out okay if you buy and read his book?
In the US people freak out over the smallest things and if it gets as bad as Rickards and others including myself think it will, this will be Armageddon. You won’t be going to the local farmer with a shiny silver coin and exchanging it for food. This will be in a Mad Max scenario where it will be kill of be killed for the most trivial of things.
My guess is Rickards knows this and will be long gone to perhaps an island in the Pacific before this happens. Funding his departure will be the buyers of his book that purports there is hope, when in truth there is none. You’re only chance is to get out of the killing zone, aka USA, while you can as nothing else is going to work.
Removing access to one’s savings whether by Bank’s shutting their doors, removing electronic access or via Bail In’s….
Jim, I feel you are very close to the mark on what transpires on the Road to Ruin in America. “Bail-In” is Law in USA. Forget your FDIC because Bail-In process will precede any Insurance for Failed FI’s.
Bring on the Wall…to keep the Zombies in.
De-Population is one of the Agendas of the UN – Agenda 21. What we have in front of us is a very bleak scenario. Silver or Gold coins do not get you through it. The exchange mechanism will not work. 99.9 % of the population do not have any awareness of the true value of PM’s.
Big price movement in the platinum, +$15, which doesn’t make much sense. It’s not a monetary metal which usually get manipulated and doesn’t have much industrial demand at this juncture.
I understand pallidium is probably moving up on momentum but what’s going on with platinum.
Silver will just tag along? A Silver rally is just a conspiracy theory? Really, when the historic gold to silver ratio is inverted at such a manipulated and historic high level of 85 to 1? No way. Bullfeathers. When the balloon goes up, silver will take a moonshot and outperform gold. I stand with Mannarino and Mr. Gold on their bullish silver statements.
If governments can just print any amount of money, why should I pay my taxes. What ever taxes I owe they can just print that much more, and I will use my tax money to improve our economy by buying stuff.
We never did escape the clutches of Royalty/Nobility/Aristocracy.
Pay your taxes for the privilege of having protection from warring tribes/nations and also the right to work 60 hours per week and be underpaid for it. Hmmmm seems fair.
Just because it is in the media (including ZeroHedge) does not mean it is factual or even accurate. Have you learned nothing about believing the media over the past 2 years??? In addition, Trump does NOT show his cards, meaning that you shouldn’t be surprised if his administration supposedly did one thing, when in fact, they are really doing something else. Quoting ZeroHedge is not an “insider” knowledge of true events.
Dear Greg; And regarding the comments by Mohammad: I was trying to follow his thinking and am having trouble. First he blamed Trump for Crimea as I read his reference on ZeroHedge. First flaw is that Obama, Clinton(Hillery) and Ambassador Alexandria Dirty Mouth were the ones trying to harvest and destroy the Ukraine and being outplayed by Putin on the Crimea. I don’t know what Trump is doing on it but I thought he has been trying to get us out of that folly as well as Syria. Sure it was probably harvested by the Deep State and their Globalist buddys like Clinton’s and Soros’. But do not forget that whole mess was about Natural Gas pipelines and still is. Although the Globalists may have decided they best get on the Silk Road train instead of trying to shake a big dog by his tail, meaning the west end of the Silk Road, Syria.
As for Venezuela, Trump sees that as in our back yard and unacceptable to let Russia have it. HE should have moved earlier when he was thinking aobut it. Now Putin has outplayed him like he got Obama on the Crimea. Again I bet Trump listened to incompetents or traitors inside The White House instead. I bet he is pissed more at his own advisors than Russia. And he will not do what Obama did causing a mess in Syria. When he decides to fix it he will go with overwhelming force. I say crap on nation building, if we take it we keep it to send home all these refugees and migrants.
One more thing Greg, sometimes we do not understand what Mohammad is trying to say. But he makes us question and think. But he does not sound like the old Mohammad. I think he is a new guy under that name.
“When he decides to fix it he will go with overwhelming force.”
Like Bush went into Iraq, so smart, so smart.
Greg, I also want Jack from NZ to know I appreciate his reporting from the NZ. I don’t always understand him either.
I will say that I saw the TV video of the NZ police running around showing their automatic toys. My impression was they were loving a chance to show off the hardware and play tough in a country that never had much crime until they started letting the problem children from the world. Yes, if I was a resident, I would be very upset with the Commie Government noise the idiot politicians are making, like I think Jack is. That they are all Muslims is a premium joke, I saw that on the news too. Those people re idiots who think that. But it won’t be nice when they implement Sharia. The first thing they will do is smack, literally, that PM whacko into a burka and make her tend the goats. Makes you chuckle from the outside looking in, just like the EU. I Just never want to be them.
The Commissioner of Police has come out today 11 days after the event and said Police will continue to open carry assault weapons in public for an undeclared period for the public’s reassurance. This is completely unnecessary. The lone offender was immediately taken into custody on the day. Resisters will have a different perspective on the motive for this extension of a non existent crisis.
Various complaints are in progress using the system against the Commissioner and it is likely we will succeed in having him removed from office for various deficiencies and offences. Make no mistake there is an active opposition to this only some visible.
We have identified CIA and CFR players previously and they are monitored.
“The lone offender was immediately taken into custody on the day.”
You mean the lone TERRORIST…Right?
He was a foreigner who came to a remote country on a mission to murder a large number of people for imagined political effect. He appears to have been unhinged and had multiple agendas some of which don’t make sense. It is not clear what he represents other than being a sadistic nutcase. I don’t think most NZers are terrorised by the event but more saddened by the tragic deaths and annoyed he brought his shit here. NZers have expressed their regret and their empathy toward the victims. We don’t have and didn’t have any prior animosity toward Muslims or any other minority group in our society. I would put him in the mass murderer category rather than get wound up over race, religion or creed. Too many people are easily manipulated by the notion that ‘terrorists’ are all pervasive. He may well be the tool of a larger and more sinister plot by those who would absolutely love to exploit the reaction to staged terror for their own ends. Don’t be lead my the media to resentment and retaliation. He has offended against our society and will be tried and sentenced in due course.
TERRORIST, perfect definition of the word, terrorizing civilians to achieve a political gain which is here white supremacy. he flashed it when arrested.
Yo can sugar coat it but won’t change the fact.
HE IS A TERRORIST….!!!!
Mate your getting just bad as the MSM, does it matter what he’s labelled as.
120 Christians killed by Muslim TERRORISTS during the same week. Any mention in the MSM? Not a peep.
And, oddly, initial reports said there were other shooters involved in NZ. There is a lot of false flag evidence here. Check it out…
You just can’t see the forest for the trees. The Muslims in NZ are not terrified or afraid. They are all over the place, getting as much attention as they can from the sympathetic media. The only ones who are terrified by the latest event are the legal gun owners in NZ.
They are taking people’s guns for saying bad things about Muslims, on someone’s say-so. Someone reports them, and an army of cops raids their house. Media ignores it of course.
We had a weird case in Chch today of a man who apparently was identified as a gun owner by a member of the public being hunted down and attacked in his vehicle at 3am. It was reported he died of stab wounds although there was a report of a neighbour hearing a man calling out for help. He was said to have no guns with him at the time. Whatever is going on here you can be assured there will be an attempt to keep this climate of pervasive fear going. Call it synthetic terror. I think if the contrived gun grab goes poorly we can expect another event somewhere in the country to reinforce opinion. We need to be vigilant to that.
I have entered a complaint with the Police Complaints Authority about the unnecessary intimidation of citizens by way of the Police still brandishing lethal weapons on the streets, and also a letter to the Governor General asking for immediate removal the Commissioner of Police from office for a number of reasons I wont list here. I may publish the letter later.
Greg’s Bread is Buttered
Greg Hunter gives free time to guests and an audience in exchange for free advertising of their book. Readers who unduly criticize guests often find their comments deleted. This is a matter of necessity if guests are to be expected to return again. Many do. So, its a site for loyal followers of the gold as a investment theme and other investment selected investment ideas. I might add giving specific investment advise without a signed Advisory Agreement is against SEC regulations and is a illegal practice punishable by fine. Watch how much you suggest gold or any other investment or asset to your readers or expect a complaint.
Show me where Greg has EVER given specific investment advice on this site. I dare you.
Telling his readers to “prepare” is NOT specific investment advice. You sound like a millennial first year law student. You clearly are in over your head so you’d better get back to your books otherwise you are going to fail your next law exam.
Thanks for busting the ghost man.
Go haunt some other blog…ghost ahole.
You’re a fool
It takes way more than giving specific investment advice to run afoul of the SEC’s regulations. That is especially true for “publishers,” e.g., the “press,” such as USAWatchdog.com.
RE: “Greg Hunter gives free time to guests and an audience in exchange for free advertising of their book.”
Now, what exactly was “exchanged”?
If it was exposure to a devoted audience in exchange for talking and offering opinions, isn’t that what all of the mainstream news networks do all day long — even those that are financially oriented?
As for SEC complaints, you’re the one who should be careful: Are YOU trying to manipulate the price of PMs by trying to chill discussion of their merits? Furthermore, I wouldn’t be surprised if the SEC would take a dim view of anyone trying to abuse their regulatory process by making frivolous claims in order to harass the press or otherwise chill free speech (much less trying to manipulate the price of PMs). I suspect, moreover, that courts would not look kindly upon such tortious conduct either.
Great interview. I love it when Jim says “everyone” should own a monster box of silver. That alone if came to fruition would create the “silver on steroids” he claims probably will not happen. What is his definition of everyone?? The silver market is tiny.
California: Hundreds Of Protestors Rally Against Rep. Ilhan Omar At Hamas-inked CAIR Fundraiser
Robert Spencer 4 hours ago
You should check out valurum .com 1/10th gram of gold ,thin as a dollar in your hand; it is real money or asI spell it monei lol.
Surely it wasn’t all about defeating communism.
CNN Looks Humiliated On Russiagate While Backpedaling
I was asking my self why someone is digging in the high caliber university about admissions of students following bribes in form of donations when this has been going on for long time, so why now, and why so harsh to the degree of indicting the parents involved in the scandals making an example of them and a precedent?
Then it occurred to me and this link from Cohen’s congress testimony hinted to the narrative:
So what IF:
The Democrats want to know if Trump’s degrees where bribed in with donations?????
The FED is part of the Socialistic Economic System. Bank of England and Basil, Switzerland are the other controlling parts. The FED knows exactly what it is doing; it is performing Global Socialistic control over the world’s economic system. The FED is never “behind the curve”. The results that you see, recession, depression are all caused by the FED/ Bank of England/Basil.
England was controlling the Global Empire before WW2. After WW2 they went underground [quiet] but they still control a large percentage. For instance, they, through the COMEX control the world wide price of metals.
It is time we changed our view points so that we do not continue to listen to their propaganda. “Its not our fault, we are surprised…”. Then why do they still exist if they are that incompetent ?????
To whomever post the link to this video:
I thank you for connecting the dots in regard to the curious case of the $135B briefcase in 2009. That caper has been bugging me for 10 years.
Btw, Mohammad is wrong, as usual, about the connection between the $135B briefcase and Yamashita gold.
The bonds in the briefcase is likely the gold bearer bonds which the Chinese Nationalists bought from the U.S. Treasury in 1949 when the Chinese Communists took over the mainland. It’s not unreasonable that the nationalists prefer to keep the gold in the U.S. instead of Taiwan when they weren’t sure if they could withold the communist onslaught.
Hard to say…since the world is awash with stolen gold, art, gems, and bonds since the end of the WW’s and prior and later…lol
Shady deals all for sure…
“… suggest the recovered treasure ( Yamashita’s Gold, the Golden Lily Treasure, ….) was in excess of 280,000 metric tonnes of gold.”
Accordign to World Gold Council, the best estimates currently available suggest that around 190,040 tonnes of gold has been mined throughout history.
The numbers don’t add up. There are way too much gold in the Phillipine as per the article which you have posted. I’m sure if there were gold in Phillipine post WWII, we wouldn’t leave them there to be guarded by the likes of Marcos.
$2.3 trillion missing dollars from DOD a day before 911 is lot more than $0.24 trillion in covert and illegal Black Eagle Trust’s bonds. Perhaps 911 is the one stone which killed a lot more than two birds.
The whole video has one possible truth:
Japan is the issuer of gold bearer bonds likely agains a gold hidden in one of them pacific Islands like Karen Hudes maintained all along and now there is fought over it .
Likely US after winning the war took over the bonds in the fifties and now they are after the asset (gold)
I have been warning about this for the past six months,
Homeland security put out a warning in December. Crickets from readers. If you are not prepared with countermeasures, you will beg for a FEMA camp. Military personnel and law enforcement have been preparing, especially in zone three. Washington D,D.
OT- My gut feeling says Jussie Smollet charges being dropped is a political move in rebuke of Muellers findings of no collusion. The string pullers, of which I suspect Obama and Michelle may be behind, are deliberately doing to this to piss off the conservatives but there’s many on both sides that are outraged. This was a democratic party vs republican party action to further incentivize the far left against the center and right side of the political spectrum. This was nothing but an in your face political favor that may backfire.
Greg, For the record I voted for Obama twice. I was a liberal for most of my adult life and was quite proud of America when we elected our first black president. I thought we’d reached that post racial time in our nation, but I was wrong.
In the last two years of Obama’s 8 year term, I saw the racial divides being sown to get Hillary elected as Obama suddenly cared about people of color, particularly black people, when he didn’t pay much attention to their plights in the years prior. He seemed to favor the lgbt crowd as the climate became politically favorable to do so. Nothing wrong with that, just saying it as I saw it. He didn’t give succor to the black community until Hillary entered the arena and then suddenly black lives mattered.
As an old white male, and after seeing my sex, color and age group being demonized as whats wrong with this world and then further demonized by Democratic candidates like Biden, Beto and others to suck up to guilt ridden white liberals and far left minority activists who play the race card, I just feel we guys in the above age group need to call out what I believe is racist, sexist and age related prejudices being used to divide us …and Im not afraid to say what I see happening and use racial based tones in my comments.
I think were all equal, but somehow white people arent suppose to have opinions on racial matters these days and I’m calling bs.
I think old white males did a lot of good for our country and I think we need to stand up for ourselves. I also think there’s many people of color who will agree with me as I see many youtube vids made by people of color who see the racial divides being sown by the left, and dont like it anymore than I do.
Being for lawful immigration makes a person a racist according to the leftist these days and I’m tired of being mislabeled by people who claim to be tolerant only if they approve the perspective.
I’ll define who I am, not my adversaries.
One more thing regarding this Jussie Smollet issue and the dropping of all charges … I wonder if the Justice Democrats group ( I noted their role in the election of AOC in another of your recent threads) had anything to do with this strange decision by the state AG. Afterall, part of the goals of the Justice Democrats is to get their candidates into the DA and SA offices to lessen the charges on groups they believe are marginalized people. Jussie is hardly marginalized.
What do you call a Democrat who changes his positions while on the fly ?
– Monkey Branching
Lol, I can think of a few other things but I’ll be nice. Btw, Robert, you are welcome to the real world.
Jim’s take on using a gold back currency is interesting but he’s not being totally honest. Sure you can reprice gold but if you don’t change the money system then you’ll eventually be back to square one, history has shown that. You can’t use gold as a backstop in our current debt based money system or the politicians will find a way to cheat the system, they always do.