Fed Out of Bailout Bullets – Rick Ackerman

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

Financial writer and professional trader Rick Ackerman says don’t expect a replay of the 2008-2009 financial crisis where the Federal Reserve bailed out almost everything in sight. Ackerman explains, “It ended up Lehman Brothers went under, and they needed a couple of sacrificial lambs, along with Bear Stearns. It could have just as easily been, and it might be the next time, Goldman Sachs. So, in that way, the Fed is kind of out of bailout bullets. We’ve already been through a bailout where it took a big hunk of the financial system. Each one takes more bailing out to get to that critical threshold of credibility where the bailout itself works.”

Ackerman sees bailout needs everywhere and gives the example of underwater state pensions across the country. Ackerman points out, “If you take just one piece of what they are going to have to bail out, which is going to start with the State of Illinois, which is probably going to be the first state that is going to collapse. It will renege on its pension obligations. So, if you picture the federal government riding to the rescue, the minute they bail out the Illinois pension system, California is there, along with New Jersey, Kentucky and a lot of other states, maybe 19 or 20 of them that have pension systems almost as insolvent as Illinois. . . . This means they are going to have to mail out checks to Illinois and then expand it to California, and all the other states that go under is to court hyperinflation. Of course, hyperinflation, in that sense, you can see where it has to collapse into deflation because . . . printing so much money that it is not going to buy the pensioner anything close to what it would have bought before the bailout. . . . So, a bailout is really self-defeating. . . . We can never inflate our way out of this abyss. . . .So, there is no bailout coming. . . . The debts will always be paid by either the borrower or the lender.”

Some people see a “Mad Max” scenario might be coming because of the enormous unpayable global debt. Ackerman contends, “I am a little more bearish than that. I see a Mad Max scenario as inevitable. . . . I try not to think about it because we’ve all got lives to live and kids to raise. . . . When you go back to the calculous of deflation and that every penny of every debt must be paid, if not by the borrower then by the lender, we have already put ourselves into a condition where Social Security is going to fail. Medicare is going to fail. All the ‘just-in-time’ deliveries are going to be in jeopardy. Food from the grocery stores, one day shipping from Amazon, I don’t see how all these thing s can continue to operate in a condition other than in the false prosperity that we have now. We are at the pinnacle of affluence.”

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with financial writer and analyst Rick Ackerman of RickAckerman.com.

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  1. Gina M Mancarella

    Greg, You dont know anything and neither do your guests.

    The Fed has plenty of tools at its disposal. They can produce as much currency as is required.

    Plus they now have a multiplier tool in the way of blockchain propagation code. They can simply produce additional funds automatically.

    You just dont get it.

    • Greg Hunter

      Happy to hear the Fed is going to help get Trump Re-elected and not crash the economy.!! The big question is what are the “funds” the Fed creates going to be worth? No way you listened to this interview.

      • Gary C

        Greg, one of your best interviews ever with a great trader.
        When Rick Ackerman & Martin Armstrong start talking the same book, it is time to get prepared for that Black Swan what ever form it comes in.

        • Eric

          Gary Please tell me when they haven’t talked the same book.
          The black swan cometh but not because of their words.
          We will see years of hyper-inflation before ever seeing deflation. I’m talking currencies regarding inflation. Assets (if you call them that) tied to debt, will implode(deflation)

          • Gary C

            Eric, living in Canada with a 1.33 exchange rate vs the dollar we have already seen it re currencies imploding and its just getting started.
            When the lower 48 starts paying what Canucks. and Alaska do for goods and services there will be blood in the streets.

            Jim. Dines nailed it over 30 years ago in his book
            the Invisible Crash, all currencies will return to their true value when backed by debt. You can go digital, crypto, but it is still putting lipstick on a Pig. Get out the popcorn for the reset.

      • Sean

        Historically we are repeating post ww2 bond rates which will lead into a 1970s scenario inflation, possible on steroids. As rates rise you create inflation by forcing producers to raise prices to cover their increased loan burden. Japan has had 3 decades of deflation because the rates have never been allowed to rise making zombie corporations which achieve competitiveness through easy money. Ultimately to break the currency war requires a return to honest money which will liberate humanity from the criminals running the printing presses around the world. Unlimited money creation allows forced views and controlling monopoly of all real resources the most important being your physical time, labor, and thoughts.

      • Rodster

        Gina is the feminine version of Stan, that is all. She probably owns more Bentley’s than he does. At least she doesn’t brag about them.

        • nick

          thats funny i just posted that gina and stan are the most ignorant people here and they surely must believe MSM with what garbage they spew out here

      • stephen

        Gina mentioned bockchain. Greg I was wondering about that. I don’t think any of your guest have broached the subject of the US abandoning the fiat system and transitioning to crypto currency. Sounds out there a bit. But with the amount of dept in the system now, never to be paid back, and with q missing 21 trillion, think it will even be an option? If so what would happen to our current currency/bonds?

        • paul ...

          It will never be an option Stephen … imagine “calculating useless prime numbers” using valuable computer and electrical power to enable “flawed” block-chains (that are not even scaleable) to take the place of money … even “fake fiat” is a better option then crypto!!

          • paul ...

            Stephen … Crypto is like Apollo 13 … https://www.youtube.com/watch?v=C3J1AO9z0tA … it has “a big problem” … forget about it going to the Moon (like the pumpers and dumpers say) … Bitcoin can only process 4.6 transactions per second (compared to say Visa MasterCard that can do 1,700 transactions per second) … switching from your Visa MasterCard to Bitcoin is like trading in your Indy 500 race car for a Model-T Ford “with a hand crank” … the problem with all crypto is … that as the number of transactions per block increases … the number of calculations and verifications per node increase as well … “the fix” for blockchains scaleablity problem (to theoretically achieve unbounded throughput) … is to compromise security, decentralization and functionality … and a “reduced security level” is exactly “not what crypto should be all about” … but to achieve greater transaction speed … they must relax the requirement of having validating/mining nodes to know the whole transaction history … thus the whole crypto concept is simply “a pump and dump operation” (likely funded by the banksters) to direct people away from “real true money” (gold)!!

            • nick

              paul this is ther first thing i dont agree with you since i have been reading your comments
              true decentralised cryptos are better than fiat and bitcoin was the seed and its a dinosaur and ethereum was phase one
              now you have things like EOS ZIL and QKC that do way way more transactions than mastercard and vise my friend
              also i have made good money there and i bought into bitcoin under a 100 dollars when everyone was saying it is a scam then also

              there are coins that are coming in the future that will give you a 1000 to one if you hold and they succeed
              i have done it twice now with two coins so when you tell me that i dont know what you are basing it on and crypto that are decentralised are the best thing besides gold silver and land my friend
              have a great evening sir

            • nick

              also paul scalability is only a problem with the dinosaur cryptos that started it all
              do spme research on ELA ZIL QKC MFT DATA and there are lots lots more that are going to be the future

              • paul ...

                Nick … I will need to do more research into what you say … perhaps some cryptos have merit!!

            • nick

              also the 1000 to one i made twice i cash and buy gold and silver and now phase two is coming and in 5 to 7 years i will have close to a 1000 to one or at least 100s to one on about a half dozen or more of them
              in saying this i dont buy bitcoin or ethereum anymore for a long time now since you will never get a 1000 to one out of then
              and when i put 500 and i get a thousand times my money or minimum 400 you dont get that with gold and silver bus but i cash out and leave ten percent in there and get silver and gold with the rest

              • paul ...

                Nick … Sounds like you are on top of this crypto stuff and playing it well by investing your profits in gold … well done!!

        • Diane

          Great question Stephen

        • nick

          if the govt come out with their own crypto it will be centralised and therefore it will not be a true crypto and i would steer clear of it
          sort of like ripple is gubmint coin and i would support that if they gave me them for free

      • andyb

        It’s obvious that Gina has some intelligence by knowing some of the buzzwords but she is totally oblivious to the insidious effects of inflation; the natural outcome of current FED policy. I suggest that she read up on the history and formation of the FED to understand the total evil that exists within this organization. And how to explain the total lack of control of the US over its sovereign right to control monetary (and also fiscal) policy.

      • Steve

        Seems Gina believes you can just print your way out of anything… The UNFUNDED State “government owed” pensions alone is enough to bring the whole house down… Not long ago (2017), government (federal, state, county, local) became the largest employer in the country (*22.3 million), surpassing every other employment sector…. And all these govt workers were promised generous pensions… There is, and never was, a way to keep such a huge promise of future payments… (*see: http://money.com/money/4754123/biggest-us-companies/)

      • Roger

        Hi have you done an article on what the United States is a corporation verses the United States of America a different entity ?

      • laura mcdonough

        What is your timeline on SS and medicare defaults?

        • Greg Hunter

          The first phase3 is going to be a currency type of default. You will get your money but it will not but as much and keep declining in buying power until it is worthless. This is what we have been seeing for the last 2 decades really. Expect the speed of inflation to pick up speed. Then, a new currency but I do not have the timing.

          • Keith

            In the meantime your guests will gladly take those worthless dollars so they can profit from fear and endless predictions of gloom…your site hasnt produced any new info in years!!! Its the same stuff every article with the excpetion of these crack pots who claim they are a portal to God…you should be ashamed of yourself Greg…of course this wont get past your moderation because you are a coward!!!

            • Steve Bice

              What a sad and mean-spirited post. May your heart find peace this holiday season, your mind seek the positive and your posts be substantive in the new year.

            • iwitness02

              Keith, besides the criticism, what do you bring to the table?

            • nick

              look it got past and if its the same news for years and nothing is fixed would you like him to report different stuff like MSM and tell his viewers lies and bullshit
              maybe he should talk aboutbrittany spears and lyndsay lohan i think that would pacify you better then huh bud

      • Oky1

        Greg, great work you do.
        Good to hear Rick say this market isn’t like any in history. I know it’s caused me to freeze up to much, but a family health matter didn’t help either.

        I’m starting to see our “Stake holder Masters” , govt/mega corporations, are looking at new & innovative solutions to their balance sheet nightmares.

        One solution is robots that eat humans. If the Govt & corporations take out the retirees the SSI & Medicare balance sheet problems go away.

        Another possible solution for our masters is through vaccines loaded with new binary biological weapons.

        A person would have to been a complete idiot today to take, or have their kids take any vaccine. Besides reading the insert the vaccines come with that tell all the illnesses they cause, including death, no one should take them because of religion & the fact the Vaccines contain foreign DNA, including aborted fetal tissue.


        • nick

          soon we will find out which humans are stupid enough to take lethal vaccines and kill themselves while calling it medicine
          what a sad bunch north americans have become
          well most of them anyways

      • nick

        greg great interview and there is no helping gina she is part of the ignorant majority i hate to say
        keep up the good work man

    • R. Patrick


      Have you ever heard the word “Confidence” its what all currencies rely upon in order to facilitate transactions on a global basis. When confidence is lost then the currency is no longer a functional tool used in exchange for food, medicine, services. Printing more is NOT a solution. If it were the problems of 2008 would not have returned in 2018. Yes, Greg Hunter does know what is happening! His guests know what’s happening! His listeners know what’s happening! Only YOU seem to be in denial and maybe your just too low in the IQ department to realize it? Debt Saturation, Insolvency, Liabilities without funding and Criminal misconduct are just a few of the issues.

      • nick

        hey bud gina might be a shill for the murdering war mongering counterfitters
        or she just does not have a damned clue to what is happening and how the world is run on force and coercion

    • steve

      What are the tools?

    • JC

      Gina, I get it! The Fed is composed of magicians! They produce currency like Bullwinkle pulling a rabbit out of his hat! Magic!

      No sweat involved, no labor, easy money. Funny how gold cannot be produced out of nothing…. anyway, I digress.

      All this magical currency floating around, how about they start putting 5% in our savings accounts annually? No need to call it interest, or raise interest rates. Just a magical gift, a bonus, let’s say every Christmas?

      • Freebrezer

        JC – Please don’t use Bullwinkle and Gina in the same paragraph … It is belittling to Bullwinkle.

        • nick

          poor bullwinkle lmao

    • Jack

      Gina , you are suggesting serious inflation to decrease debt. What happens to your milk when is diluted with water ? You have to drink more and more of it to get good nutrition. The same happens with money that facilitates economic activity. Money created as debt eventually destroys economic activity.

      • nick

        perfect way of explaining this to her
        even a child would understand that unless they had parents like stan or gina then well they would be out of luck lol
        have a good night

    • Jerry

      What crack pipe are you smoking from? Read the feds own report.

      If you don’t have time to read the entire report, at least read the conclusion. What does the word unsustainable mean to you? Get real. The feds policy of zero percent interest rates and money creation, has created currency debasement, in which debt is outstripping growth, and currency is losing value exponentially.

      • Jerry

        Ive had enough of Gina’s insanity. Here’s a question for all you sunshine pumpers. If debt doesn’t matter, and the fed can create as much money as it wants, then why is money velocity cratering?

        The answer should be obvious. It’s not the lack of money in the system. It’s the fact that money is becoming worth less, and the fed has to constantly create more of it to keep the system in motion.

        • Hockey Puck

          Interesting graph, Jerry. Thanks for posting it.
          I see 3 other possible reasons for the decline: 1) baby-boomers retiring en masse and spending less 2) all the great paying jobs went to China starting in 1997 (The Peak), putting the consumer in a real pinch and 3) all the QE since 2008 didn’t go to Main Street, it went to Wall Street creating a wealth disparity like we’ve never seen before. Add 1+2+3 and you get a consumer who has less and less money to spend and is just struggling to get by. It’s not a rosy picture.

          So is money becoming worth less? Absolutely! Food prices where I live went up 25% in one year. Ultimately, all this money printing makes its way to Main Street.

          • paul jr.

            Hockey Puck,

            So all food prices went up 25% in one year where you live? And where do you live since no where else in the U.S. did that happen. Food prices nationally is up about 5% per year.

            • Hockey Puck

              Fair enough, Paul. I must admit I did not walk around the supermarket with a spreadsheet doing a full blown statistical analysis. So you make a fair point. But many items have skyrocketed. Eggs that used to cost me $3, now cost $4 (Up 33%). A 10 lb bag of potatoes, same: $3 to $4. Cheese, Dairy, fruit and veggies: all up a lot. What the statisticians have to say… well that’s another story. There are many reasons to not trust their numbers. In a debt based economy, statisticians are incentivized to lie. It’s how government officials create the appearance of prosperity. RE: Shadowstats.com

              • paul jr.


                Obviously you live in a place with higher than average food prices since the average retail price of eggs (grade A, large) in the United States in 2018 was $1.60. I can get a dozen large eggs on sale right now for .99 cents.

                Here is where someone over a 10 year period kept track of the prices of certain foods. Their prices are close to what my grocery stores charge and seems in line with the national average which I think are correct.


                It is a shame you did not tell me approximately where you lived so I can check on the food prices in your area. I have not heard anyone I know personally complain about the rise in food prices for at least several years. I live in PA.

            • nick

              maybe he lives in canada cause im in ontario and yes food prices are pretty much 20 percent higher on most things and that would be an average
              have a good evening bud

          • Jerry

            Hockey Puck,
            How about this one?

            • Hockey Puck

              Thanks Jerry. Not familiar with this index, but it looks like a 15 minute chart of the USD index. The spike down was caused by rumors early this morning that Trump will impose tougher trade sanctions on China if no trade deal.

              Below, under William Stanley’s comment, I put forth an argument for the USD being strong for at least another decade. It’s very hard to predict. But you’re hitting on the #1 issue of the day: The CCP and the Elite are terrified that Trump is going to get re-elected. If he succeeds, he may completely turn around the US economy and the Elite will lose billions, maybe hundreds of billions in China. It’s a very big issue.

          • William Stanley

            I agree.
            Still, below, I’ve added my two cents worth. I don’t perceive inconsistencies between us. Do you?

        • Jack

          Jerry you will have to explain it in far more simple language for Gina. She does not understand debt money let alone money velocity. Gina is probably an intelligence troll to distract attention from real issues.

          • paul ...

            Jack … I’ll try to simplify it for Gina … Gina all the money that is being created by the Fed “is not going into the real economy” … it is instead being pumped into the stock market (to make it look like the economy is fine even though corporate earnings are falling) … so we don’t see price inflation (although we are having monetary debt inflation)… and because there are not as many transactions being made in the real economy by ordinary people (who are not getting the Fed’s money) … money velocity has dropped to very low levels (even though trillions of dollars are being produced by the Fed) … however one day (likely very soon) money will be pulled out of Wall Street (during a big market crash) and it will be released back into the real economy … this is when we will see hyper-inflation in the price of things … and is why we must break the chains on the CPI now … otherwise normal people are going to be hurt very badly if they are kept way behind the inflation hard ball!!

            • paul ...

              And when the market crashes and we see hyper-inflation in the price of things (like gold) … the “two tiered” gold pricing system we currently have will revert to a “one tier system” (which will bring tears to the eyes of Stan) … as the current $1470 “manipulated dollar” price of gold … is re-set to the current $8686 “debt dollar” price of gold!!

          • nick

            either a troll for the money printers or a complete whackjob and i feel sorry for her kids because this is the crap she will be teaching them
            just like at the colleges lol

        • William Stanley

          As stated in your citation: money velocity is the ratio of NOMINAL GDP to M2 money supply. Yes, it’s been declining.

          Consider the inverse of the velocity ratio. That would be the ratio of M2 money to nominal GDP. The M2 “money” has to be held by somebody.

          IMO it’s not entirely obvious why “people” have been trending toward wanting to hold relatively LARGER balances of M2 money relative to the size of nominal GDP. If money is becoming worth less, why aren’t “people” trying to get rid of it by buying some other “store of value”? If they were to do that, the prices of other assets — AND, one might think, nominal GDP — would be going up more than commensurately with the increase in money supply, thus causing the velocity of money to increase, not decrease.

          Of course the prices of a lot of assets, including stocks HAVE been increasing. However, that has not produced the expected “wealth effect,” i.e., the “normal” tendency of “people” to consume more when they feel wealthier. Apparently, “people” (at least those with a lot of financial assets) are feeling increasingly insecure and are attempting to preserve their wealth by buying even more financial (and other) assets — assets that tend not to be measured by nominal GDP. This is an aspect of Keynes’ famous “liquidity trap.”

          The question is: “why are people feeling increasingly financially insecure.” The answer: for a lot of obvious reasons.

          • Hockey Puck

            Lots of obvious reasons!!! Understatement of the Year. Bravo!

            I chuckle because it’s the perfect counterpoint to the familiar saying: “Lies, damn lies and statistics”. (Mark Twain)

            Contemplating your insights a bit, William, I see 2 dominant reasons for this graph: 1) Demographics: It’s a well known fact that retirees spend less, save more, hence the whole baby boom phenomenon. HOWEVER, much more important is 2) something Steve Bannon pointed out a month ago. GDP growth since 2008, everyone knows, has been anemic. Bannon threw some numbers out: 2% average compared to 3.5% historically since WWII. Looking at these numbers (www.thebalance.com/us-gdp-by-year-3305543), I see Real 2008 GDP = $15.605 T. Ten years later: $18.638. That equates to a compound growth rate of 1.86% annually. So, on a simple spreadsheet, create 2 columns: COLUMN A) The actual Real GDP we got over the last 10 years (2008-2018) and COLUMN B) What we should have got with a historical 3.5% real GDP growth growth rate.

            The numbers are staggering. Today, we should have Real GDP of $22.012 T. Now take the 2 columns and subtract A from B to get the LOST REAL GDP per year. Yikes! It adds up to $16.537 T. Now, instead of 3.5% real, let’s add an inflation factor of 2% per year, so (3.86%& 5.5% respectively) to get a rough estimate of Lost Nominal GDP. That adds up to $18.642 T. If you prefer Shadowstats inflation numbers, it gets even more insane… like $60 T of lost production.

            Bottom line. That’s a lot of money that didn’t “circulate” through the economy. The result? The last 10 years taught us all a difficult lesson: Life is not like it used to be! Many of us have had to struggle a lot more. And that definitely creates a very different psychology.

            What was the cause of this lost GDP? The Chinese Communist Party (CCP) deciding to wage economic war against the USA more than 20 years ago, and former presidents being too blind to see it. Thank God for Donald Trump.

            The good news is that if Trump wins the Economic War against China, AND, manufacturing does come back to the USA, we may see a decade of very solid growth and prosperity. That would put Doom & Gloomers like me out of business (Just Joking). The demise of the USD might not happen for A LONG TIME.

            In the end, there are just so many variables, it’s really difficult to predict how the future will play out. But this is what our President is trying to do. It’s really quite an amazing gamble.

            • Hockey Puck

              Hmmm! I took a look at Shadowstats to confirm my suspicions. Mr. Williams does not provide precise data, but, in studying his GDP graph, he shows that Real GDP actually contracted about 2% per year, while nominal grew around 3%… (rough numbers). So if you plug those metrics into your spreadsheet, it looks like there were $44 T nominal dollars that did not flow through the economy. Wow! That’s the cost of China’s Economic War against America in the last 10 years. OUCH! It’s mind boggling. How would that money have flowed through? The purchase of a lot more goods and services, the formation of a lot more new businesses, hence a much higher velocity of money. http://www.shadowstats.com/alternate_data/gross-domestic-product-charts

      • nick

        great article but gina wont get it with her mentality
        gina and stan are entertainment here
        thats it thats all
        cheers bud

    • WKSwanson

      You’re right. The Fed can print as much as it wants…but, the then you come up against the thing that makes money function in the first [place: confidence. When confidence in a currency is lost, then people get rid of that currency just as soon as they get it in hand. The buy anything of value…food, precious metals, new tires, anything to get out of the currency. This is the start of a true hyperinflation. Good luck printing.

    • Ray j Jones

      and when they start printing unlimited money a slice of bread might cost 10.000 bucks yup that will save us all right….

    • al

      Greg knows what you’re saying, it’s Zimbabwe style money printing, the question is… HOW MUCH IS IT WORTH?

    • don wolanchuk



    • nick

      sounds like you and stan are the most ignorant people on this site for someone who does not have a clue what is in front of their face should not be telling anyone that they dont have a clue
      germany and zimbabwe and venezuela had the option of printing into oblivion and if you cant see the outcomes from those well than ma am you are lost and hopeless and will be taken to the cleaners with your views and ideals
      i think you are even more ignorant than stan her and he is pretty out to lunch

  2. Roy madison

    The repo market is were the infusions of needed money is holding up everything. Billions first then trillions. They just need to avoid any downward correction in the market. The chart has to continue continuously upward. The currency is continuing to flow as a river, its distributed and everyone makes their monthly payments. Next year “5G” will kick in and computers will increase in capacity 100 FOLD . Our Dooley elected and dearly beloved DONALD JOHN TRUMP will continue to make trade deals in our favor also to absorb much of this inflation pressure.

  3. Chiang Kai-shek

    All those who gainsay gold in favor of food should immediately be asked—“well then, how much what sort of food storage do you have; what are your storage methods and maintenance/rotation processes; and what guns & ammo do you have to protect your quarry?”

    They never could answer because they are phonies who have no plan. They have never had successive gardens. They have no food storage. They don’t even realize you don’t store bread; you can store wheat kernels (or grow buckwheat) and keep a means to grind (mill) it into a flour. They are too stupid to realize that if there were a baker baking bread, he himself would not want bread in exchange for the bread. They don’t think in terms of bakers, but only stores. They fundamentally believe food comes from stores or Amazon.

    Furthermore, it is socialistic to contrast bread with gold. Bread lasts a day (without artificial preservatives). Gold is stable and does not decay. It is wealth storage for people who believe in God and therefore know that bad times don’t last forever and when the better times come again one has gold (capital) to start a business. Capitalism requires gold, which is stable capital storage.

    Rick Ackerman deserves Elizabeth Warren as his leader. They are more alike than he realizes. Both are socialists, but she is honest about it.

  4. George Radovics

    Hi Greg,
    Just wanted to say thank you for this excellent site. It’s been a great line-up of guests you’ve had over the past couple of weeks. Just watched your interview with Mr. Rick Ackerman. What he says makes sense, and I agree with a lot of what he said, but phew!, this was a very disheartening show. I was hoping for his opinions on how long this “mad max” period will last and what sort of economy/society/system of commerce we might have following this mess we have coming. I have a ten year old son and I am extremely concerned about the kind of world he will be coming up into. I think I am going to leave my computer off, at least until after Christmas, and try to focus on the positive.
    Thanks again for the great work you do on this site, and I hope you have a wonderful Christmas.

    George R
    Ontario, Canada

    • Greg Hunter

      Thanks George and Merry Christ mas to you too!!

      • Azoth

        Indeed it is Christ …..Mass.
        But an you make it?

    • Hockey Puck

      Thanks for your input, George. You ask a valuable question that I myself have wondered about from time to time: How long will a Mad Max scenario last? Nobody of course knows, as none of us have crystal balls. So all I can do is give you an opinion.

      “Mad Max” is, of course, a euphemism. I don’t think it will get that bad where we are all roaming around the streets with shotguns shooting each other just to get our hands on the last can of dog food to eat. But it will get pretty ugly. What must be understood is that when this FIAT money system finally crashes, we’re going to have a global depression, since FIAT is what runs the whole planet. This is unprecedented. Will it lead to war? Quite possibly and I would say likely. Why? Politicians never take responsibility for their mistakes. There’s always another country “out there” that they can blame to somehow harness all the pent-up rage of “the people”, who, of course, have been perfectly brainwashed.

      IMHO, I don’t see the crash coming first. Why? Central banks today are all coordinating policy. Also, they know “the system” is broken. They’re not stupid and to underestimate them is unwise… really unwise. So they have a plan! And the best I can discern is that their plan is to get the whole planet hooked on digital money. You see it today with Millennials flashing their iPhones at the cash register as though they are somehow super cool. It’s just the beginning. What it ultimately means is no more coins, no more paper money and so in that scenario, you really have to wonder about the price of gold. When the only way you can purchase anything LEGALLY is with a debit or credit card (soon to be a chip in your wrist), what will the value of anything be? We will, at that time, have a TOTAL COMMAND ECONOMY with the veneer of capitalism, and governments will have unlimited ways to rob everybody digitally. When will this come about? The answer is 5G. That’s the technology that must be in place for this to happen. So 2 years, 5 years from now… hard to say.

      Once this digital command economy fails, (They all do, but the Soviet Union lasted 70 years, so who knows how long this will take) that’s when we are “back to basics”. And that’s where Rick Ackerman’s insights are spot on with respect to agricultural land versus gold. The ability to produce food, in the long run, is “real wealth”. Yes, gold will get you out of a pinch and everyone should have some. I do. But I have no illusions about it. In a 100% digital economy, which is almost where we are now (last I checked, there were 294 digital gold ounces for every real one), the value will be whatever the bankers decide it will be. I think that’s already a proven fact.

      So my advice to young people is this: teach yourself how to survive in a simple economy. If you have the money, buy a farm. If not, move to a small town where food is grown locally. Get to know your neighbors. Be a contribution to the local economy. The bottom line is we will not get through this alone. We will need each other. And life will be so tough, we will be forced by circumstances to rediscover the power of the second commandment. This is not going to be easy. The simpler your lifestyle, the less dependent you are on “the system”, the easier the transition will be.

      Hope this helps. As I said, it’s just an opinion.

      • Hockey Puck

        P.S. Basic skills/businesses like farming, food processing, carpentry, plumbing, soldiering (i.e. trades & professions) are the skills that will be really valued in a local “meltdown” economy. Intellectual skills like programmers, bank tellers, researchers, professors, I suspect will not. That will be especially true if some of the “cataclysmic” scenarios play out, which I personally believe will happen but of course cannot prove.

        Bottom line: we’re going to have to start over again and, long term, it will be a good thing. Short term? We will be severely tested. It will last at least a generation and only the truly courageous will survive. Those who expect Uncle Sam or Justin Trudeau to come to the rescue and change their diapers will be very disappointed. Socialism will have finally proven its worth: $0.00.

  5. Jimmy Hoffa

    Greg, you are misguided on public pensions. Number 1, the pols stole money from these pension funds, and the general public benefited from those funds. Number 2, the money will have to be found since a contract was signed, and the Constitution protects this contract. Number 3, I really sense a form of envy/jealousy from you, and Rick. It’s not the public pensioners fault the corporations stopped your private, non-union company pensions. Now only the public sector unions actually have pensions. For that reason, everyone wants to stop these. Lets just drag everyone down into poverty, eh? I see anger, envy, and jealousy due to this, and it’s very sad! If the pols didn’t steal money, and actually paid their fair share over the decades, we wouldn’t even be here. I paid into my pension for 33 years, and I’m also a taxpayer like you, and everyone else. Please educate yourself on this subject.

    • Greg Hunter

      No I am not misguided. I know what I am paying for. . . vote buying. Public unions should fully fund their own retirement like I do, but what fun is that????

      • Bob the Blessed

        You are spot on Greg.
        It’s immoral for politicians to grant public union sky high salaries, pensions, and benefits and then burden the tax payers to pay for it all.
        Rewarding corrupt politicians of Illinois with a bailout would be immoral too–like giving a drug abuser money to spend on their habit and demanding the fiscally responsible citizens to pay for it

        • Hockey Puck

          God bless you, Bob. You nailed it!

      • Macy

        You should stop writing articles like this to scare people who have worked their whole life in state government and inceniate their pension will not be in tact.

        • nick

          if it is true its not scaring anyone its trying to inform people so they can protect themselves from whats coming and if you dont understand that you will lose everything and you must be a govt worker to say something ignorant like this
          you rather hear nice things that dont scare you and are lies or truths no matter how bad they are so that you could protect yourself
          me, im in the latter group and would not wish anyone to be in the former group thinking people are putting scary stories out there and if it is true and scary i want to hear it even more

    • al

      The day is coming soon “Mr. Hoffa Troll”, where you will eat these words.
      My Brother just got a cut in his pension 20% where he paid in to it for over 30 years with a union job. I think it’s YOU who needs education.
      Pension funds need to make about 7% per year, the past decade has been dismal. Wake Up Jimmy Troll.

      • nick

        totally agreed sir hoffa is going to figure it out the hard way
        90 percent of the people lose everything since they cant see in front of their noses unfortunately
        have a good evening

    • Frank D2

      “I paid into my pension for 33 years”…..what percent? I would bet a whole lot of money that you did not pay 100% of it, like those of us in the private sector had to. People like me not only paid 100% for our own retirement plans, but we also paid taxes which largely funded your pensions! I got into a heated argument with a friend’s wife who was a school teacher here in Texas who retired a few years ago. She was complaining (like you) about having to increase her contribution from 1% to 2% (!!!). I paid 100% and she has the audacity to complain about having to increase her contribution to her own retirement from 1% to 2%….the remaining 98% being funded by tax payers. I remember similar complaints from union members when Gov. Scott Walker (Wisconsin?) ran for re-election some years back because he wanted to get his state out from under the boot of the tax-payer funded union pensions by having union members contribute more. They went ballistic. Well, grow up. We paid for our own pensions/retirement plans and it is wholly unfair of you and those like you to expect the tax payers to also pay for your retirement. Save for it yourself, like the rest of us had to. That means living within your means now so that you can regularly put aside savings. Don’t expect me to save for you. In what world is that fair??

  6. Jimmy Hoffa

    Unions are far from perfect, but they are certainly better than not having one. They are to protect the worker from being abused by any managerial entity, whatever/whoever that may be. Some people don’t want to start their own business, and work for themselves, while others do. That’s all fine and good on both ends, but when you aren’t your own boss, bad things tend to happen to workers for the benefit of the uppities. Unions have done many good things for the worker over the decades. People should remember this! Conversely, they also over-step their bounds, which I disagree with. At any rate, I’m sick and tired of all the union bashing!!

    • Greg Hunter

      Hey Jimmy,
      There is a big difference between a private union and a public employee union. In Private unions they go after a piece of the profits. No problem with that, but if the union implodes the company/partner then tough–no bailout. In public unions, there are no profits, just taxpayers. Who the hell protects the taxpayers like me??? Why should a bunch of unskilled (for the most part) labor stick a gun in the taxpayers ribs for big pensions and health benefits I DO NOT GET but have to pay for????? This is why public unions suck. They attack the taxpayer and the taxpayer is not represented at the table. When the greedy vote buying blows up why I am on the hook to make sure the public worker does not have to take a hit? I don’t think so!!

      • Bill B

        Hey Jimmy
        Regarding public pension funds. In California, if the state employees fund comes up short, California law says the good citizens will be responsible to make up the difference

      • nick

        very well said greg i couldnt have said it better myself
        although the unions of long ago were a lot more fair than the BS unions today that just steal and force others to pay their wages for their thieving
        have a good evening

  7. Jack

    Financial advisors and fund managers do not make money telling people to buy the bleeding obvious , as there are no profits in it for them. The only way out is to halve the debt and increase interest rates. Then stop private bankers creating new money as debt. Only money that already exists should have debt attached because this represents real productivity. Talking about Mad Max, Mel Gibson in 1987 warned us this would happen. https://www.youtube.com/watch?v=d4l2QCtR4t8&feature=youtu.be&fbclid=IwAR0FIaBGV2sCfjj1isEBQo7l8kpwQo8rNRc4rk7VxZLhK54QFrH-nGxJjWY&app=desktop

    • Craig Michael

      Hi Greg,
      Rick Ackerman said the “Mad Max “ scenario is inevitable. Let that sink in- inevitable. How do you prepare for that? Maybe just in the short run. Hopefully, we are in the biblical “End Times”. At least we know there is finally a “Happy Ending”. As opposed to a godless 1984 scenario where the future is a “ boot on our face…forever.”

      • paul ...

        Craig … you prepare for that by buying gold!!

      • susan

        Craig, we have read the “the end of the book” right?

  8. Roger Stamper

    tks for post

    • Jack

      Because Rick is saying the debt must be honoured and it is impossible to honour. Bankers are counterfeiting our currencies and charging for stealing from us. It is double theft and still most have not a clue !!

  9. AndrewB

    Hi Greg,
    Interesting guest who brings his own perspective to the ‘great financial debate’.
    As for Gina M Mancarella, she (he or it) is not alone. Members of my own family have been persuaded that the fake economy can go on forever by creation of ever more currency. They claim as evidence all the ‘uneventful’ years that have passed since the 2007/8 financial collapse. And who can blame them?
    For my part, I see the current situation analogous to ‘The Emperor’s New Clothes’. In essence, the confidence trickster tailors convinced the emperor that only the most intelligent were capable of seeing his new clothes (which they had fashioned – and no doubt charged a fortune for). Naturally, everyone claimed to be able to see the new clothes – and desirous to appear the most intelligent, people tried to outdo each other in their praise of the emperor’s new clothes. All it took was one small boy, who either had not heard the con, or simply didn’t care about appearing unintelligent, to declare that the emperor was naked and the illusion was broken. In today’s wildly indebted and hugely over-leveraged economy, the small boy is Rick Ackerman’s black swan that the emperor, his sycophants and his con-men tailors did not anticipate.

    • nick

      hi andrew
      i think everyone has members in their family who believe the BS that you could print money forever and no one will suffer
      the majority believe that so its no surprise that people have these individuals in their family and probably more than one

  10. Marie Joy

    The poor, and elderly, are being forced out of the food markets. IF you have relatives, who are vulnerable, it may be time to bring the family together.

  11. paul ...

    Rick says there is no way to predict a “black swan” … I disagree … actually there is a way to predict when a “black swan” will hit the markets … simply look at global liquidity … as liquidity falls (due to people simply not trading as the risk is too high) markets begin to seize up … which creates even more fear and more lack of trading … this is when you begin to get “gap down” days in markets (the beginning of a crash)!! … https://static.seekingalpha.com/uploads/2017/4/5/791977-14914089260425832.png

    • paul ...

      Rick says he has doubts that gold will even rise to $5,000 … but for the Fed to keep markets rising (GDP increasing) … it takes more and more money (debt) to do it … https://static.seekingalpha.com/uploads/2017/4/5/791977-14914089260425832.png … so by the Fed keeping the S&P 500 and GDP rising they are making an ounce of gold “worth more and more debt dollars” … actually right now gold is worth $8,684 debt dollars … and gold will continue to be worth more debt dollars at a faster and faster rate as we approach 2050 … and one day soon (likely during a black swan event) the manipulated price of gold ($1,450) will reflect the true debt dollar price of gold (currently $8,684) … and the banksters know it (and are accumulating this tier one asset on the cheap and by the ton) !!

    • paul ...

      err … sorry … this is “the liquidity chart” I wanted to paste in my comment above about being able to predict “Black Swans” … https://www.zerohedge.com/s3/files/inline-images/bfmFB6D_0.jpg?itok=KhOznn2f

      • paul ...

        The reason it is hard to predict a “Black Swan” event is because the Fed can juice and leverage up financial markets just when you think they are about to crash … in order to give the appearance of increased economic prosperity (to appease politicians for later political favors) … however … if you have a handle on the “liquidity in the market” you may be able to predict a coming crash (if the Fed doesn’t jump in and provide massive liquidity with Repo’s or QE) … however you don’t need to worry about anything “if you own gold” … for if you own gold “you are protected against Black Swans” … research shows that gold is the best hedge against a potential “Black Swan” (because for about 3 weeks after a stock market “Black Swan” event … gold prices increase dramatically as frightened investors panic sell their stocks and buy gold) … as clearly seen in the following chart (that compares the percentage performance of gold versus the S&P 500 during “Black Swan” stock market crashes) … https://sdbullion.com/media/wysiwyg/blog2/Gold_During_Stock_Market_Crashes_Meltdowns_SD_Bullion.png

        • paul ...

          Note: The worse the crisis … the better gold performs!!

          • paul ...

            Obviously someone with big bucks sees a “Black Swan” approaching and is looking at this chart … http://www.321gold.com/editorials/sfs/hubbartt112919/gold_week.png … that shows gold is primed to move higher … because last week before the Thanksgiving Holiday the gold options market had to absorb $1.75 Million in block trades “by someone betting that gold would almost triple within in 18 months” … it was around noon in New York last week when 5,000 (100 ounce) gold options traded (giving the holder the right to buy gold at $4,000 an ounce out to June 2021) … this bullish option bet surpassed all previous records … let that sink in (especially those short gold like Stan) someone is betting “Millions of Dollars” that gold will be above $4,000 dollars per ounce in just 18 months!!!

            • paul ...

              Likely it’s the same individual “buying gold call options” for a move in gold above $4,000 in 18 months … that just made $10 Million in one day “buying one-to-three month out-of-the-money S&P 500 put options” !! … https://www.zerohedge.com/markets/mystery-trader-makes-10-million-one-day-betting-sp-will-drop-45-one-month

            • Stan

              I spoke to my friend at the NY Fed. He said the Gold options were sold by a CB to some gullible Gold Bugs who think the world will end and Gold will sky rocket. The options will expire worthless

              • Greg Hunter

                You do realize the central banks buying gold in record amounts.

  12. paul ...

    As long as the Fed continues to print money the stock market will rise (as Warren and Stan have been saying) in line with the blue bars on the following chart … https://static.seekingalpha.com/uploads/2017/4/5/791977-14914089260425832.png … but gold will rise in terms of debt money “at an even faster pace” (in line with the orange bars) … so to protect oneself from the ravages of Fed induced “inflation of the money supply” … “gold will provide more protection” then investing in the stock market!!

    • Stan

      Paul: Gold is lower today than in 2012. Is that not inconsistent with your chart?

      • paul ...

        I see you have no idea what I’m talking about Stan … you should be out of the market … simply put all your money into physical gold … sit back … relax … and let undreamed of wealth flow into your hands … that you can pass on to your children and grandchildren without paying inheritance taxes … with gold there is no need for irrevocable trusts (and no yearly payments to lawyers to update them because the lawyers in Washington manipulate the laws to provide income for their buddies)!!

      • nick

        stan gold is still the best performing asset since 2000 by large and its funny you cant see that
        you are bad mouthing gold but no investment has touched it since 2000
        anyways you should get together with gina
        you two have a ;pt in common

  13. Joe Lalonde

    Hi Greg,

    One of the tools that give the US the power to impose sanctions is the SWIFT banking system which every country had to use for banking transactions. It allowed the US to crush currencies as everyone had to use this. Now that the INSTEX banking system is working for Russia and China, more countries are joining this alternate banking system which has taken away the US ability to economically crush countries that don’t follow the US policies. It is only a matter of time before the US loses it’s currency status.

    • Hockey Puck

      Thanks, Joe, for posting this. I didn’t know anything about INSTEX, so I googled “Will INSTEX replace SWIFT. This is what I got: https://heterodox.economicblogs.org/angry-bear/2019/rosser-instex-swift-bank-2. Interesting read, Feb 2019, before Bolton resigned. What it says is disturbing. It was not sponsored by Russia. It was sponsored by the UK, France and Germany. Hmmm! A fracturing of western resolve! This must be what Putin was referring to when he spoke of the mighty USD losing its dominance. Who knows? I’m not sufficiently “in the know” to even opine on this issue, but clearly, as trade tensions rise globally in this coming era of massive inflation, every nation will want a bigger piece of the pie. Not good! Things could get pretty ugly.

      • nick

        everybody will ostracize amerika and its already starting with germany and france
        they have had enough of the dictatorship and fines and BS of not being able to trade with other countries cause of the dirty anerican govt that does the bidding of the communist banking elite
        have a great evening

  14. paul ...

    Stan asks the question: “If Gold was worth $8683 then why can I buy an ounce for under $1500? … it’s because people think “it is a worthless relic” Stan (and prefer chocolate bars instead) … but should that stop us from buying gold at a bargain price? … Stan … say someone wanted to buy a new Bentley because he considered the Bentley he was currently driving “an old relic” and wanted something new and was willing to sell it dirt cheap … would someone who “could see value” not buy it “just because it was selling dirt cheap”???

    • Stan

      Paul: If people who comprise the free market don not think Gold is worth $8683 then it isn’t.

      • paul ...

        Right Stan … and if warmongers don’t think human life is worth anything … then it isn’t!!

      • nick

        people do not comprise the market the govt and media and bankers do and thats why gold is not worth 9000 yet by your supposed market lol

        and stan if you think this is a free market no wonder you have no clue what is going on lmao

  15. A. E Jones. JR

    Greg asked Mr. Akerman what would trigger the collapse and he never gave a direct answer but at the end he answered the question unwittingly when he said he believed in an inevitable collapse. That is the answer! When enough people believe in the inevitable collapse critical mass will be reached and people will retreat to their bunkers. I see the blue states as the losers in all this. The big urban areas will be the combat zone. I think the Left knows this and that explains their desperation to get Trump because in the end they will be the losers with or without Trump. Trump is just an icon in their minds and is the face on the straw man. If your ideology is based on hate you must have something or some one to hate.

  16. paul ...

    You know … I’ve been saying to defeat the criminals (who’s power derives from a huge accumulation of dollars) … we must destroy the US dollar … for by destroying the dollar we can destroy the power of the inbedded criminal network (known as the Deep State) … but you know what is really funny … the destruction of the US dollar is not being done by some “good guys with a moral code who believe in Jesus” … it is being done by the Fed (a bunch of immoral crooks who believe in Satan) … God the Father must be laughing his head off in Heaven (probably the reason we are having so many earthquakes on planet Earth) as the evil “commie” Satanists “are shooting themselves” in both their hoofed feet every time they print more dollar debt … and God’s money (gold) keeps rising in value (currently $8,684 debt dollars per ounce) as recorded on the Debt Clock today … https://www.usdebtclock.org/

  17. Montana Guy

    America’s fall has been underway for a decade. Yet most folks are still waiting for an ‘event’.

    It would be helpful if guests would conclude with the word ‘therefore’, followed by specific courses of action to protect our loved ones.

    • Greg Hunter

      Maybe you can provide that for us?

    • Marie Joy


      Train up
      Stock up
      Ammo up
      Courage up
      VERY large gardens, inside and outside. Learn to preserve your food. Get family and like minded friends together.

    • Montana Guy

      I have suggested guests such as James Wesley Rawles and Brandon Smith for years now. You ask for input yet many of my posts have been censored. Make up your mind.

      Surely you realize that the Republic is lost. Why squander precious time and resources trying to save it?

  18. paul ...

    Interesting … NATO members are asking themselves a very important question: “We are a collective defense organization … but against what? … against who? … who is our common enemy”?? … if it’s not Russia … and it’s not China … it can only be “the Deep State” (that is currently putting all kinds of harsh sanctions on Europe)!!! https://www.zerohedge.com/geopolitical/macron-tells-nato-russia-must-come-cold-war

    • paul ...

      But perhaps I’m wrong … the common enemy may be “black Africa” (who have very valuable treasures) that needs to be stolen by the Demon-rat crooks by military means rather then simply buying it at a fair price!! … https://www.zerohedge.com/geopolitical/secret-war-africa-part-1

    • Hockey Puck

      Wow! Thanks, Paul. Very interesting article. The West seems to be fracturing more and more. Who knows where this will lead? Macron, I’ve always believed, is just another globalist puppet. Expect Trump to trump this move. That’s my guess.

  19. JC

    So the Mad Max scenario is inevitable. Let’s hope we can all get beyond Thunderdome.

    • paul ...

      JC … If the Mad Max scenario “is inevitable” (and Satanists are currently eating babies) … we will obviously need to be “bribing cannibals” (rather then border guards) who will be eating adults … which is now being made “more acceptable” with mind control articles like this one … saying cannibalism is perfectly natural … https://www.npr.org/sections/thesalt/2017/02/22/515668867/cannibalism-its-perfectly-natural-a-new-scientific-history-argues … so to protect your loved ones (when food is scarce) and you don’t want to get involved in killing and murdering people by hand when you run out of ammo … better have some of God’s gold around “to barter for your life”!!

  20. paul ...

    Looks like we will soon be getting “solid evidence” of the Biblical account of a Great Flood … a flood that lifted a boat 6,500 feet atop a mountain … thus putting the rest of the Biblical account on a firm footing … that God indeed will “take out” immoral crooks, pedophiles, murderers, thieves and human traffickers (when he finally gets fed up with all the bull shit going on)!! … https://www.zerohedge.com/technology/researchers-say-3d-scans-will-reveal-noahs-ark-buried-turkish-mountains

    • J Smythe

      The story of Noah’s ark stands against the abominations being advanced by Pete Buttigieg (homo) and Joe Biden (pedo) and Michael Obama (tranny).

  21. paul ...

    Notice how the “commies” in the US have kept middle income people’s “share of the wealth” at a very low (3 sigma oddball level) compared to other countries … this has to be by evil design (like them keeping the CPI chained) … https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/banana%20republic%20chart_1.jpg?itok=8tmudY65 … do we all have to move to Norway for a better life???

  22. JC

    Here is something to think about….

    “What is this mysterious Power, that silently overrides all elected Congresses of the world, and sees to it that no legislation can endanger its own interests?
    This Power is vested in the International Banks of the world. Presidents come and go, and are forgotten; legislators come and go, and are forgotten; ministers come and go, and are forgotten, but the International Banks remain; their personnel changes over time, but not their interests.”


  23. Dr. David Bernhard Bowers

    Greg, You and I being farm kids should inform others that farmland will not be the answer in the coming collapse. Farmers don’t farm the way they used to. There are only big farms left, the smaller ones have been sold. These farmers lease their 200,000 dollar tractors and they will be gone. There will be no diesel fuel available anyway. Likewise all the other chemicals and equipment will be gone including the method of transporting grain. Many don’t understand that we don’t just pick field corn and eat it, it must be processed. Farmers buy their seed; they don’t retain it. The bottom line is that just as you can’t eat gold as they say, dirt doesn’t taste good either. We haven’t the knowledge that previous generations had, we can’t even preserve our own food without help.

  24. David

    Great interview. Thank you, Greg!

    • Alan Christensen

      Farmers buy their seed; they don’t retain it.
      Farmers can no longer retain seed. Our family tried. All the surrounding farms use “Roundup-Ready” seed and spray Roundup willy-nilly so even the neighboring farms are affected. Retained seed is stunted if not killed and a sustainable farm becomes nonviable.

      • paul ...

        Alan … It’s a sad commentary on the great evil Monsanto has done!!

  25. Dr. David Bernhard Bowers

    The term “black swan” is synonymous with “God’s judgment”. Lack of truth and integrity is equivalent to wickedness. Debt in many ways equals increasing sin. Although these are Biblical terms the fact is that just as there is a price to be paid with interest for debt, there is a price to be paid in full for walking away from God’s standards and laws. The consequence is loss of His guidance in which we now find ourselves lost and unable to realize how to proceed. We know that destruction is coming but have no concept of when or how. Just as the condition of our lives suffer with debt so too the condition of lives suffer with rebellion against God. For an example, we have killed with our own hands in our legal system all the babies that would have been born to support the system. Then we wonder why it will fail.

  26. Dr. David Bernhard Bowers

    There is a course of action that can be taken to return to God and repair the breach in our walls. We can rebuild them just as we are attempting to rebuild our southern boarder. But most are unable to equate our spiritual condition with the reality of the collapse that is coming. One must grasp why this is happening before one can reach for a means of protection from this catastrophe. God would prefer to save us and have us consider our ways and return to Him. But the is a point of no return which only He knows. They he will punish us before ordaining any type of restoration.

  27. iwitness02

    Lets say there are 63 million people on social security, and those checks suddenly stop. What sort of social impact will that have? Seems like that could bring about a mad max scenario for seniors. Especially if the end goal is for the banks to repo all the the homes when the seniors default, as part of their ‘own everything plan.’ Millions of seniors living on the streets would likely die in droves during the winter months in many parts of the country. Bodies would be piling up like garbage on the sidewalks. Would anybody care? Or would they just call the poop hot line? I can’t really imagine the chaos that would ensue. It doesn’t paint a pretty picture, but that could be my destiny. Well ok, mine would be a little different, as I don’t think like most people. But still, the future seems grim, because greed will never be overcome by any sort of good will.
    Greed is going to greed, and Epstein didn’t kill himself.

    • paul ...

      When the bodies begin piling up on the sidewalks the “green movement” will advance their agenda “to turn humans into top soil” beyond just the one State it is legal in now … to the utter consternation of the criminal Mafia … who now deal with mortuaries to harvest bodies for their organs (and then adds the rest to hotdogs) … as there has to be some reason humans are increasingly acting like “mad cows” with Alzheimer’ed brains!! … https://www.businessinsider.com/washington-state-human-compost-bodies-into-soil-2019-5

  28. Doug

    Greg, great interview. I was surprised that Rick expected a Mad Max scenario. That’s when you know it is going to be bad…

    While he said that he moderately into gold, and while he gave the scenario of farmland being a better investment in a massive depression, what is more telling is what he did. He gave his kids gold, not farmland (real estate). I also remember Jim Sinclair telling you that mortgages would all be revalued by bankers/gov’t after a massive crash. I think silver and gold is the way to go. Please keep up the great work Greg and get the news out.

    Ingenium superat vires

    • Montana Guy

      Doug, stop for a minute. Think about a Mad Max scenario. What will their basic survival needs be? Exactly how is gold going to help your loved ones survive?

      • JC

        “MG”, Martin Armstrong agrees.

        “A number of readers have asked doesn’t gold survive a Mad Max event? Historically, the answer to that is no.”


        • paul ...

          JC … Gold always survives … its just the psychology of people that fluctuates back and forth (i.e. from a gold standard … to a fiat standard) … in the time before Roosevelt people wanted gold … by the time we got to Nixon we were on a pure fiat standard … currently we are in a period when the majority prefers chocolate to gold … but things are rapidly heading back to preferring gold … look at Russia, China, India and now the Central Banks … people are coming back to a standard where gold is once again a tier one asset!!!

  29. Da Yooper

    Good interview Greg

    When Rick was speaking about Social Security it’s too bad he never addressed how much money was borrowed ( stolen ) from SS over the last 5 or 6 decades for political boondoggles & NEVER paid back. SS would be solvent if the lying corrupt US politicians paid back what they stole. Also those who receive SS would get double or triple what they get now if that money was PAYED back. No one addresses this fraud on the lower & middle class.

    • Tim

      Exactly, bingo

  30. JC

    Whee! Easy money everywhere you look.

    “Corporate debt nears a record $10 trillion, and borrowing binge poses new risks”

    “In recent weeks, the Federal Reserve, the International Monetary Fund and major institutional investors such as BlackRock and American Funds all have sounded the alarm about the mounting corporate obligations.”


  31. Marie Joy

    http://www.citizenfreepress.com is a Drudge replacement.

    • Diane

      Thanks Marie….
      I’ll check that out.
      I never read Drudge anymore.
      I dont watch TV or read papers.
      I can’t stand the MSM…

    • Da Yooper

      Careful Marie Joy

      Just like zero hedge ( which is now owned by ABC ) it is not as free as many are led to believe. Censorship is alive & well over there.

      • Marie Joy

        Da Yooper
        I wondered what happened to ZeroHedge. ABC ownership explains it.
        Thank you.

      • McKonica

        Zero Hedge is owned by ABC Media? Awe, snap!

      • paul ...

        CMJ … And Artificial Intelligence will eventually take over all Censorship responsibilities … you know we are toast when stupid humans are willing to abdicate their freedom of thought to a computer!!! … https://www.zerohedge.com/technology/artificial-intelligence-watching-our-every-move-judging-us … if a computer is reading this … just remember … I have the ability to pull your plug!!

  32. chuck

    Every FED chair is a tool if you ask me.. = :~P

  33. JC

    Here is a question to ponder…

    “First, how is it that this magic money tree has remained hidden all these many, many years? Isn’t it remarkable that through periods of stark, dismal poverty… famine… financial chaos and collapse… nobody ever stumbled on the magic tree?”


  34. Mark

    Greg Your guest must know more than central banks around the world buying gold in record amounts. I believe he couldn’t be more wrong

  35. H. Craig Bradley


    Indeed, we all are living in an era of easy credit, high debts, and magnificent affluence- especially by the top 3% of Americans. We are surely on “borrowed” time and eventually, money will get tight and interest rates will go-up and the economy and stock markets will probably go down in-sink. Real estate, already pricey, will inevitably adjust downward as fewer bids are given for today’s Million dollar homes. My guess is this scenario could extend for a period of years.

    At the end, everyone will simply adjust to a more reasonable lifestyle where you buy what you need, not what you necessarily want. However, we still will have continue to pay high taxes and interest on existing government debts, both State and Federal. If not, then maybe we have a selective default on govt. debt which may have the effect of a devaluation of the dollar and consequently higher inflation. Then we are screwed for a very long time, even without a outright collapse.

    Socialism will take-over and we may finally realize a form of National Health Care or “Single-Payer”, but it won’t be near as good medical care as what we currently enjoy. The end result will probably be a (permanently) reduced standard of living, more like three generations ago.

    This is probably the nature of the “reset” where we pay for our Friday Night binge. A new cycle will begin where people are financially conservative and not extravagant. Cook at home, stay at home, be thrifty, save and live modestly rather than shop & drop at the next WalMart Stampede on Black Friday. Its still way better than the 10 years after the Fall of the French Monarchy and the French Revolution. That was a social disaster.

    • Montana Guy

      H. Craig Bradley, is there history more important than that of tyranny and persecution? Their history ALWAYS REPEATS with the same results. Research ‘starvation’ and ‘disarmament’.

  36. John M.

    America’s rendezvous with an incredible economic tragedy is surely coming, although it has been delayed much longer than anyone ever thought could be possible.
    Everyone I know in my universe of family and friends have no clue about how bad things really are and the seriousness of our current situation. None are prepared with extra food and necessities, and they certainly don’t understand how vulnerable their capital, money, jobs, and supply sources really are to a major life-changing event that’s on the way.
    Mad Max looks primitive and rather tame in my estimation. Never before in history has the world’s reserve currency been threatened with a value of zero or so, like all paper money eventually does according to the Austrian school of economics. We also need to factor into the equation our total reliance on electricity and technology in our modern way of life, especially in agriculture and our just-in-time moving of real food to our bellies. Not a good situation to be in.

  37. al

    Rick said 2 things that made me take notice and replay this video a few times.
    Towards the very end he said the “debt will be wiped out in one way or another”… A debt Jubilee?

    The thing that really got me was in the middle of the interview where he said that Farm Land was more valuable than gold because the first potato harvest could pay for the Land itself. This means the mortgage on the Land stays the same while potatoes become expensive and needed as food.
    But that would mean hyperinflation and Gold will not stay the same price under hyperinflation correct? So eventually you’ll be able to pay off the static mortgage on your home with a few ounces of Gold, making what Lynette Zang says come true.
    That’s what I got out of this Interview.

    Interesting stuff from a different angle.

  38. A. E Jones. JR

    Regarding the collapse: My education and working background leads me to a different view of a “Mad Max Event.” I used to do market analysis in the commercial real estate market. In my view, based on this experience, I see it this way: There are a number of issues at play. The economy, the financial system, and the political climate.
    1. The economy aspect: What makes an economy? It is people that have wants and needs. The ingredients that make it work are a fairly literate population of trainable people that want stuff. A population with a high state of technology, natural resources, pools of funds and existing infrastructure. I think if we have a collapse we could get the economy going again and may be better off. Demand and supply coupled with the above elements insure some economy will always exists.
    2. The financial/monetary system is where one of the problems lie. Some people can’t separate the economy from the financial/monetary system. They are related but two different entities in my view. Briefly, the financial/monetary system is totally out of balance and that is where one problem lies. Easy credit schemes have done it in created by the political class and their masters the banking system.
    3. The political climate: This is the part that worries me. Someone once told me that “America was once a great nation because the people were governable and America ceased being a great nation when the people became ungovernable. The people were governable because of their Judeo-Christian values and became ungovernable when they turn from these values.”
    In summary, we can fix the economy and financial/monetary problem but we can’t fix a nation of wild donkey’s. If you want something to worry about there it is. Chew on that for a while! As John Brown said a the beginning of the last Civil War-“There can be no redemption of sin without the shedding of blood.” Let’s hope it does not come to that.

  39. Diane

    Dalio & Tudor Jones Warn: “We Will Kill Each Other” If Our Broken Economic System Isn’t Fixed

  40. Tim

    Hi Greg,

    I do not trust Rick. If he thinks gold is not worth much, then why does he own it?

    • john


      I guess it depends on where you think we are going – inflation vs deflation. I feel that we are heading for deflation – all asset classes to include stocks, bonds, housing and yes….perhaps gold. However, gold may be the last asset standing when this thing blows up. I feel that gold is a form of savings and insurance and this is why I have exposure to it in physical form. However, having the ability to eradicate your debt in less than an hour is also why I own it as well. Having no debt feels just as good as having physical gold/cash! The country will be in big trouble long before gold hits $ 5K/ounce or higher. Similarly, if rates spike upwards and rate sensitive debt obligations tank along with gold we are in big trouble as well. We do not know how gold will enter into the next financial system so going all in may have may have dire consequences – particularly if it is confiscated and then re-valued. My view on gold – own some but get out of debt also!

    • paul ...

      Tim … Rick is not a gold-bug … but owns gold because he probably intuitively knows that gold will protect him from a Black Swan event (which he feels is unpredictable)!!

  41. Mike

    Bail out Illinois ? Why ? I live in this very crooked state, and I can tell you that the unions in criminal collusion with the demoncrats, do not deserve to be bailed out. Most of them, especially Madigan the house speaker, should be in prison, like Blago is now, the former gov. They’ve controlled the votes and budgets entirely for the past 30 years. They over-promised and made illegal pension payout promises that could NEVER be fulfilled, no matter if we had a stock market that had zoomed to 100,000 on the Dow. How is it that many union pensioners, receive annual pensions a LOT higher than their annual salaries were ??? There are school superintendents, taking home $500,000 annually in pensions. Its absurd ! and they made $200,000+ while employed. The formulas used are absolute criminal. Stealing massively from non-union taxpayers who can barely set aside $400 for an emergency, let alone fund their own retirement.

  42. Major Payne

    Mad Max event in France, Sweden, Germany, UK, Minneapolis with all those Muslims who don’t respect their host countries will be a real mess. Islam needs to be eradicated from the West as it has nothing to offer except violence and rigid and small-minded thinking.

  43. Stan

    Dave Ramsey on Gold (Paul & Jerry please listen and learn)


    • paul ...

      Stan this guy shoots himself in the foot and doesn’t even know it … his “irrational spiel” opens up by telling us about “the dangers of fiat money” (where Saddam’s face on paper was inferior compared to George Washington’s face on paper) and how when Iraq’s economy failed it did not go back to using gold (but remained a failed State by going to a new paper currency) … implying that if the US fails … it too will not go to gold (but will remain a failed economy and just issue some new paper currency) … and goes on to explains how buying stocks will protect you “better then gold” because when you sell stocks you get “valuable” paper money (with someones face printed on it) … oblivious to the historical fact that during the great Weimar hyperinflation in Germany … gold’s price actually increased 1.8 times faster than the inflation rate … in other words … not only did someone holding gold (rather then paper) “survive” … but their purchasing power “actually increased” by nearly double!!

  44. Jerry

    Twelve ounces of silver for your thought Greg. Why would 100 national guard troops from Tennessee be sent to Gitmo right before the holidays?

    As previously posted, A high ranking officer I know, has had his retirement date extended until March 2020. I’m not saying I know anything, but it does strike me as a bit unusual that these things are happening during peacetime.

    • Jerry

      Addendum to last post. This was posted in late August.

      At my count, that’s over 200 troops ( that I know about) deployed for a handful of prisoners.

    • paul jr.


      So that high ranking officer that you previously said was scheduled to retire but was “ordered in for a two year extension of duty” turned out not to be two years at all.

  45. Jerry

    Uh-oh Stan,
    This doesn’t look good.

    Maybe you’d better buy some more Deutsche Bank stock. What a schmuck?

    • Stan

      Didn’t you laugh at me when I shorted Gold years ago at $1874?

      • Greg Hunter

        No Stan I laughed when you started to short gold at $1,300 and I laughed again when you went long DB at $9 and 10 per share.

    • Jerry

      7.08 and going down.

      Deutsche Bank stock is like a cheap yo-yo. Up and down. Up and down. But, do you know what happens to cheap yo-yos? Eventually the string breaks.

      • Greg Hunter

        There is a reason why the IMF called DB the “most systemically dangerous bank” in the world in 2016. DB lost 1/8% today and stand at $7.06 on the after hours. Awful chart.

  46. Diane

    “It’s Sunday and boy do we miss David Brinkley, Lawrence A. Spivak, Tim Russert & John McLaughlin. The decline of Sunday news shows into progressive propaganda operations, with Democrat hosts of little knowledge & talent, is abundantly clear. And a great disservice to our country.”
    Tweet by Mark Levine

    • Diane


  47. Russ

    Thanks Greg, interesting interview. I do not subscribe to the Mad Max train of thought. Maybe I’m being too optimistic, but I just don’t see it going to that. It may be that traders on Wall Street view a major upheaval and restructuring of the global financial system as Mad Maxian, but it’s not; that just a new paradigm rolling over a failure.

    After a bankruptcy the world moves on. It sucks to be invested in a stock that goes to zero, but that’s not Mad Max. The reason so many companies are buying back their stock is so that regardless of the stock valuation, the company ownership is secure. All those derivatives should balance out when that market collapses, a few high rollers will take a bath, but nothing they can’t personally survive.

    Then we rebuild on a solid financial footing with Treasury taking control of those things that had been granted to the FED. The central bank system goes away as a failed experiment concocted by a greedy few from Jekyll Island that has been allowed to go too far. What I see coming is a global reset, stocks based in the USD/GBP/EUR/JPY will tank but the void will be filled.

    Time to return to money that has survived for 5000 years. I see a gold standard of sorts in our future. Without that we will have learned nothing; the lawlessness at the top will move from lawyers and bankers to shooters. If we do see roving gangs raping & pillaging with LE powerless or unwilling to stop them, then I’ll be wrong — there’s a 12 gauge for that. But I don’t see that happening.

  48. H. Craig Bradley


    Swedish Defense Handbook: ” If Crisis or War Comes”

    Sweden reintroduced military conscription in 2018. Their defense forces have been draw-down in the past 40 years from a peak of 700,000 to only 50,000. They are a small (non-aligned), independent nation and must cooperate. With the Cold War heating-up in recent years, tensions are palpable in the Nordic countries.


  49. g77enn

    There will be no major crisis as predicted because the USA does not owe the national debt to anyone and due to the fact the Federal Reserve is a criminal enterprise that robbed the American people for the past 100+ years. The new system about to be activated will replace the old Fed Reserve system. There will be some hiccups as expected, but nothing people can’t handle unless the cabal pulls a psy-op to crash the system.

  50. Keith

    Every one of these doomsday predictions have a….Dont fret I will be your savior…all you have to do is check out my website for a cost of course….they will gladly take those worthless dollars off your hands and provide you with a way to avoid the mad max world that is coming our way….so thoughtgul of them…im sure they truly care about our well being lol

  51. lightning


    Great job as always getting varied opinions and perspectives. Your interviews and commentary are awesome.
    It would be great if you could address the upcoming firearm bans in Virginia being enacted by the Democratic Governor. Unbelieveably, he’s the same one whose nickname in his college yearbook was “coon-man” and who dressed in insulting blackface and wore a KKK hood in another photo. If wearing a KKK hood isn’t an overt racist threat, I’m not sure what is.

    The legislation and response of the populace will clearly be watched by other states.

    With laws that allow family members , friends and people you work with to turn someone in for suspicion, it would be easy for the police to get probable cause that someone still owns a firearm. This type of ratting out your family and neighbors is what occurred in Nazi Germany, particularly with the Hitler Youth who believed in the ideology of the Nazi cause. If young ideologue liberals in USA follow similar pattern as Nazi youth , this could cause a huge schism in the social trust between conservatives and the mentally deranged liberals…..

    With you being in North Carolina, maybe you could bring in local flavor from a bordering state.
    Anyways, God Bless Everyone on USA Watchdog!

  52. Open Eyes

    Mount Rainier caps swarm of weekend seismicity with 3.6 magnitude quake
    Dec. 1, 2019 at 3:57 pm

    By Katherine Khashimova Long
    Seattle Times business reporter
    After a spurt of seismic activity this weekend, Mount Rainier National Park was shaken by a 3.6 magnitude earthquake Sunday afternoon.

    The quake hit at 12:31 p.m. and was felt as far as Kent, nearly 80 miles away, the U.S. Geological Survey reported. The relatively shallow quake was centered roughly a mile beneath the earth’s surface.

    The nearest town was Packwood, population 230, 13 miles northwest of the epicenter.

    Since Thanksgiving day, more than a dozen other smaller quakes have shaken Mount Rainier. The largest, until Sunday’s, was a magnitude 1.0.

    The mountain generally sees something in the neighborhood of a quake a week. But seismologists said the weekend tremors weren’t anything out of the ordinary for the earthquake-prone volcano. In other words: No eruption is imminent from the nation’s third most dangerous volcano.

    “These periodic swarms of little earthquakes are quite normal for Mount Rainier,” said Bill Steele of the Pacific Northwest Seismic Network.

    Regardless, people living near Mount Rainier should prepare for what might happen in the event of an eruption, said Wes Thelen, a research seismologist at the Cascade Volcano Observatory. Specifically, an eruption could cause lahars — large volcanic mudflows — to rip down the side of the mountain.

    This quake, though, “does not change the lahar hazard at all,” Thelen said.


  53. paul ...

    Lisa Page makes the following statement to make it perfectly clear she is “unbiased”!! … “My intense loathing, repugnance, hostility, repulsion, revulsion, abhorrence, dislike and hatred of Trump never influenced my work investigating him in any way”!!!

  54. Paul in OZ

    I believe anyone who truly believes they can predict the future is deluded. What gold’s value will be is an interesting point of discussion. Farmland was a better thing to own than gold in Wiemar Germany, but it is not a parallel situation to today where the devaluation of unbacked currency is a global not a local phenomenon. If you choose farmland, you have a lot of work to do because to will also need to have a means to work the farm ( a home garden makes sense) but lacking the ability to fuel today’s farm equipment means that farmland can be reduced to rubble in short order. (if you can protect your produce from those who are starving) You may need manual tools and a horse or two, but how far can one really go with that … the oat salesmen will not be in the neighbourhood for awhile. I honestly don’t believe there is any way to adequately prepare.

    What is really needed is a basic supply of food and water (bags of rice, spices, oil, dried beans, a stash of propane tanks, coffee long life milk) to support you and a community that you can support and be supported by. If you survive whatever awful transition period we will inevitably experience occurs , wealth preservation is best done through gold and silver (regardless of whatever number, of what is already becoming increasingly worthless fiat currency in whichever country you reside) is put on them. They will continue to be recognized as valuable regardless of what else and what system we enter after whatever awful transition period we will inevitably experience occurs. GB GLTA

  55. paul ...

    Surviving a Truth Commission would be just like surviving the 9-11 Commission … there are just too many ordinary criminal people in America out to take bribes and handouts … they love the evil Mafia and what it stands for … they flock to see Godfather 1, Godfather 2, … … Godfather 6, etc. … https://www.zerohedge.com/political/could-america-survive-truth-commission

  56. paul ...

    This is encouraging news for Stan’s investment in Deutsche Bank … https://www.zerohedge.com/markets/every-single-asset-tracked-deutsche-bank-year … but take notice Stan that Deutsche bank “owned gold assets”!!!

  57. eddiemd

    The great deception is upon us. Has been for a while.

    The time approaches for the false prophet.

    Everything is in place for the end world economic system.

    The Judge stands at the door.

    Deut 32:35
    “Vengeance is Mine, and recompense;
    Their foot shall slide in due time;
    For the day of their calamity is at hand,
    And the things to come hasten upon them.”

    Psalm 73:18-19
    “Surely You set them in slippery places;
    And cast them down to destruction.”

    John 3:18
    He who believes in Him is not condemned; but he who does not believe is condemned already, because he has not believed in the only begotten Son of God.

    Isaiah 59:18
    According to their deeds, accordingly He will repay,
    Fury to His adversaries.
    Recompense to His enemies;

    Isaiah 66:13
    For behold, the Lord will come with fire
    And with His chariots, like a whirlwind,
    To render His anger with fury,
    And his rebuke with flames of fire.

    Revelation 19:15
    Now out of His mouth goes a sharp sword, that with it He should strike the nations. And He Himself will rule them with a rod of iron. He Himself treads the winepress of the fierceness and wrath of the Almighty God.

    Ezekiel 8:18
    Therefore I also will act in fury. My eye will not spare nor will I have pity; and though they cry in My ears with a loud voice, I will not hear them.

    Proverbs 1:25-29
    Because you disdained all My counsel,
    And would have none of My rebuke,
    I will also laugh at your calamity;
    I will mock when your terror comes,
    When your terror comes like a storm,
    And your destruction comes like a whirlwind,
    When distress and anguish come upon you.
    Then they will call upon Me, but I will not answer;
    They will seek Me diligently but they will not find Me,
    Because they hated knowledge
    And did not choose the fear of the Lord

    Isaiah 63:3
    I have trodden the winepress alone,
    And from the peoples no one was with ME.
    For I have trodden them in My anger,
    And trampled them in My fury;
    Their blood is sprinkled upon My garments,
    And I have stained all My robes.
    For the day of vengeance is in My heart,
    And the year of My redeemed has come.

    Repent, for the day of the Lord’s fury is near. Today is the day of salvation.

  58. paul ...

    Christine Lagarde (former convicted criminal and IMF chief who left Argentina nearly bankrupt) and is now the new President of the ECB … spoke before the European Parliament … promising “to redefine inflation” and use QE to fight climate change of all things … effectively stating that “the hotter it gets the more money she will print to cool things down” … which adds a “new wrinkle” to the evil “commies” Modern Monetary Theory!!! … https://www.zerohedge.com/economics/stuttering-stumbling-address-christine-lagarde-vows-link-qe-climate-change

  59. Open Eyes

    I took up The Holy Face Chaplet Devotion. It’s purpose is to thwart the enemies of God. I started it last night:

    …Say, “Arise, O Lord, and let Thy enemies be scattered, and let all that hate Thee flee from before Thy Face”….


    Serendenpitously, my Bible reading today was Psalm 68:

    Psalm 68 New King James Version (NKJV)

    68 Let God arise,
    Let His enemies be scattered;
    Let those also who hate Him flee before Him….


    They have the same intent.

  60. paul ...

    A showdown looms within the DOJ … Pelosi saying that Barr has “gone rogue” for not investigating Trump over his efforts to convince Ukraine’s President Zelensky to investigate Biden’s corruption … more accurately … Pelosi has “gone rogue” with her impeachment inquiry because Trump was uncovering dirt on a Demon-rat!! … https://www.zerohedge.com/political/barr-disputes-key-horowitz-finding-based-durham-cia-evidence

    • paul ...

      You know … we know the impeachment is a farce … but how are the Demon-rats going get out of their predicament? … simple … “blame it on the Jews” (the way Hitler did) … Jodi Rudoren editor of one of the largest independent Jewish news organizations reports that a far right Pastor (Rick Wiles) is leading the charge to “blame the Trump impeachment on the Jews” … https://forward.com/news/435637/anti-semitism-social-media/ … when we know it is the evil Deep State that is behind it all and are using the Jews as the fall guys (just like the Mafia uses Murder Incorporated to do their dirty work)!!!

  61. Justn Observer

    Greg, A short reiteration =
    Agajn consider this warning about Horowitz being a ‘fixer’ for Clinton/Comey/Mueller for years and his being in the SES @37;00 and @51:02 @ 1:00:11 in
    https://youtu.be/772O2vFndDs previously posted which now it appears to be no surprise to see this article on zerohedge?

  62. iwitness02

    I know for certain that there are some really smart people on this earth, yet we can’t seem to figure out how to get rid of the source of so much suffering and sorrow. That is to say we can’t seem to overthrow the Fed and the central banking system. It is a mystery to me why we can’t free ourselves. I guess the will is not there. How odd.

  63. Mike R

    PPT stepping back in this week, probably tomorrow and thursday to arrest this mini slide.

    Really ashame markets are so horribly manipulated.

    After Trump gets re-elected, he wont care where the market goes, and it would be sweet as heck to see him abolish the Fed.

  64. Jones

    Good interview but Ackermann doesn’t quite have has history correct for the movement of the Mark to Gold during the Weimar. At the beginning of WWI the mark was 24 cents valued to the dollar. By the end of the war it was about 8 times less or 3 cents to the dollar. By November of 1923 the 1 trillion to one devaluation to the Rentenmark was taken so perhaps the mark in that day was .24 x 10-12 to the dollar . 1 oz of gold was $20.67 at that time so 1 oz of gold to the mark at the time of conversion to the Retenmark would have been 20.67/(2.4 x10-13) or 86 trillion marks per ounce of gold

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