Fed Still Working Against President Trump – John Williams

By Greg Hunter’s USAWatchdog.com 

Economist John Williams says the Fed is still not in President Trump’s corner when it comes to the economy. Williams contends, “The Fed was working against him (President Trump) on the economy, and they still are. Their primary concern is the banking system, and that certainly has to be supported, but when you have a weak economy, and this was fueled by the tightening of the Fed, I don’t think Trump is going to get blamed for that. It’s going to go against the Fed, and I don’t think it is going to hurt him that much in the upcoming election.

Williams says the real numbers say the economy is getting worse and not better. Williams thinks “The Fed is going to feel pressure to cut interest rates .5%” and not .25% that Fed Head Jay Powell has been indicating. Williams also thinks the Fed is going to feel pressure to start a “new round of QE.” Why? Williams says, “First of all, the economy is that weak. I am seeing it in the numbers, and I am sure they (Fed) are too. . . . The headline numbers that you hear are bloated, and they know it. . . . Construction spending is a lot weaker than reported. . . . So, we know the GDP is overstated. . . . They just reduced payroll employment . . . They overestimated payroll growth by 501,000. This eliminates 20% of the employment growth you have seen in the last year. . . . This also will be reflected in the GDP, and it will continue to get weaker. The Fed should be recognizing they have some bad numbers here. I think you are going to see retail sales numbers weaken. They will be out later this week, and also industrial manufacturing numbers will be weaker. They will be out next week. This is all before the FOMC (Federal Open Market Committee) meeting. The economy is weak enough that they’ve got to do something that will stimulate the economy by cutting more than a quarter point. There is a fair shot they go a half point (cut) and if not, they will be easing again soon. As things turn more negative, they are going to have to turn back to quantitative easing (money printing).”

Contrary to mainstream media propaganda, the tanking economy is clearly the Fed’s fault. Williams points out, “When the Fed started tightening quarter after quarter, which started in 2017, and at that point, the interest rate was 1.5% for targeted Fed Funds. When we finished 2018 in December, they were up to 2.5%. The underlying interest rate there had been doubled in a year. That’s not gradual and non-disruptive to the economy. It’s very rapid and turned out to be very disruptive. . . . When they (Fed) said they were going to raise rates another couple of times in 2019, which is when the market crashed, that was around Christmas time, and then all of a sudden, they start backing off.”

In closing, Williams says, “The Fed is not just working against the President. It is working against the interests of the American people. What the Fed was doing was in the best interest of the banking system, and the banks own the Federal Reserve. There’s a conflict of interest right there. . . . . I think you are going to see that the downturn here is pretty bad. It’s not just a little softening in the economy.”

Join Greg Hunter as he goes One-on-On with economist John Williams, the founder of ShadowStats.com.

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After the Interview: 

There is lots of free information on Shadowstats.com. The report Williams is compiling from emails from USAWatchdog.com viewers on the condition of local economies as seen through the eyes of people at the street level will be published on the home page of ShadowStats.com for free in the next few weeks. If you want even more detailed reports that cut out all the accounting gimmicks to get an accurate picture of economic data, you can become a subscriber by clicking here.

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Comments
  1. Stan

    I hate Gold

    • Greg Hunter

      Stan,
      Gold hates you. My bet is it will be left standing and you will be knocked out of the box.
      Greg

      • Anthony Australia

        He hates himself deep down, why else would anyone flaunt and be so consumed by materialistic possessions.
        (I have 3 Bentley’s means Jack Shit to people of any moral substance)

        • Anthony Australia

          We all should try and give a little back to our fellow humans, people that brag about riches can stew in their own juices, when there are so many suffering on this planet.

          https://youtu.be/Uwo5rjiIEsQ

        • Steve Bice

          Who knew Matchbook cars made a Bentley?

          • Steve Bice

            “Matchbox”

            • anni

              I laughed so hard. Brightened my day.

        • Stan

          I earned my Bentley’s by shorting Gold in 2013

      • Diane

        Hang in there Stan, you’ll be able to buy Boardwalk and Park Place and put up hotels!!!!!!! 🙂

    • paul ...

      Stan … The sad thing is that the evil banksters who’s paper money IOU’s you love Stan … are out buying gold (and adding it to their reserves at the fastest rate in 19 years) … you must get over his hatred you have for gold Stan … it is “God’s money” and it will save you from the evil banksters!

      • paul ...

        More people need to stop being boneheads!! … as Trump just said: “It is only the naïveté of Jay Powell and the Federal Reserve that doesn’t allow us to do what other countries are already doing. A once in a lifetime opportunity that we are missing because of “Boneheads.” … https://www.zerohedge.com/economics/trump-says-fed-should-cut-rates-zero-or-less-so-us-can-refinance-debt-and-lenghten

        • paul ...

          Lets think about what Trump just said … and I’m not talking about the word “Bonehead” … I’m talking about him saying the Fed is “missing out on a once in a lifetime opportunity” … a once in a lifetime opportunity to do what? … print a zillion US dollars and weaken the dollar before a re-set?? … we all know something is in the works to end the role of the US dollar as the world reserve currency … could it be Trump wants to take advantage of our ability to print away our debt before it happens??? … and could it be just months away???? … we know the role of the US dollar must end … but could a bank holiday and re-set be so very close????? … is this why the RSI reading on this chart … https://www.speculative-investor.com/TSI%20Pictures/gold_weekly_300819.gif … is so high?????? … we know from Jim Rickard’s that some form of IMF SDR’s will be the basis for “a multi-currency reserve system” … that will ultimately be based on “their” digital money (forget Bitcoin and other so-called block chain currencies) … the IMF’s “digital SDR’s” will be completely controlled by central bank authorities and they will require the elimination of all national fiat cash in international trade in favor of their international digital money … eventually every cent the people of the world spend will be monitored by the international banksters … and this cashless society would set the stage for the implementation of a worldwide confiscation of wealth under “bank bail-in laws now on the books in every major industrial country since 2014 including the US”!!

          • Greg Hunter

            Paul,
            That tweet from the President came out at 2:42 am just a few hours after I posted the John Williams interview. Coincidence???
            Greg

            • paul ...

              Greg … hope it means Trump is tuned in to USAWatchdog.com for the truth he can’t get from the US News Media!!

            • Keith wilson

              Greg. I told you months ago that I believed Trump was watching and reading comments on usawatchdog.com. I even have a conspiracy that he is making some comments himself on your site.

              • Greg Hunter

                Thanks Keith.
                Greg

      • Sir Manly Robinson

        Is it my imagination or is gold going up and down with the US Dollar recently? Has anyone else noticed this? Have they become simultaneous safe havens?

    • Jerry

      That’s right Stan.
      Load up on paper and digital promises. What could go wrong?
      Have you ever heard of the term unencumbered hard assets? Evidently you’ve never done business with a bank.

    • Rob

      Stan our Father likes gold so much He is paving the streets with a form so pure it will be transparent:

      Revelation 21:21 And the twelve gates were twelve pearls; each one of the several gates was of one pearl: and the street of the city was pure gold, as it were transparent glass.

      And only “all Israel” will be there to walk on it:

      https://sumofthyword.com/2017/12/19/all-israel/

    • Free Slave

      It is easy to hate gold when you realize you are a landless peasant, unlikely to ever own any gold.

    • Frank D2

      Why? You were so brilliant, Stan, to short gold at $1300 (NOT!). Its now at $1500. Great call. Great insight. Maybe you can sell some of your DB stock to cover your losses in shorting Gold. Oh wait, your brilliant purchase of DB stock didn’t do well either. Poor Stan. So sure all the time. And so wrong all the time. You’re a male version of Gina! Or maybe you are Gina??? LOL.

      • Major Payne

        Stan’s a capital fellow. He’s having his fun here and providing us with lots of laughs. I don’t believe for a moment that he’s serious.

      • paul ...

        Frank … I think Stan was shorting gold at $1360 because he was looking at this chart and saw gold touching the top line … https://www.speculative-investor.com/TSI%20Pictures/gold_weekly_300819.gif … but he was fooled … gold blasted right through the top line on the chart “to close the gap at 1550” … now Stan is looking at the RSI (the highest in history) and shorting gold even more … without considering that the banksters are buying gold, the Russians are buying gold, the Chinese are buying gold, the Indians are buying gold, all the top money managers are buying gold, etc., etc. … so the RSI reading “is the highest in history” likely because all the smart money “knows something is in the wind” … either a re-set is very close … or a dollar collapse is very close to happening! … my take is that the extremely high RSI reading is not a sell signal but an indication of “something very profound about to take place” which will make gold shoot even higher … actually I’m being more of a contrarian then Stan … now if Stan is right … and gold corrects to support at $1360 (Stan gets his Bentley) and then gold powers higher … but the way I see it … too many people from Rickard’s to Greenspan are trying to warn the public about how essential it is to own some gold … so I’m ignoring “the highest RSI reading in history” and instead consider it a bullish warning “that something big is about to happen” … if I’m wrong … I live through “one more correction” before gold powers on up to exceed it’s old highs!!

        • Stan

          Paul: I have a proprietary timing model. It is highly accurate. You need to short Gold now!

      • Stan

        Holding my Gold shorts and DB. Time is on my side. No worries at all

        • Greg Hunter

          Hey Stan you have done pretty good with DB. Have to give you some credit there.
          Greg

    • M

      I love gold. 🙂

    • Justn Observer

      Stan, Unless your a well connected insider day trading gold…and not a ‘preserve’ one’s wealth in times of distress and uncertainty … your calls do seem to make no sense. Simply, by clicking on the 1yr. or all at the bottom of the chart makes your calls so remarkable/laughable? The chart seems to suggest your likely more often wrong than right.
      http://www.pmbull.com/gold-price/
      So many more today are aware of the ‘manipulation’ of the markets thanks to Greg and others which I tend to believe has had an effect of the ability to do so with ‘paper’. And how many more are much more aware of the COT and watching the roll over dates etc.
      Give people enough time…patterns can be recognized as well as the old ways that the elite have used operations like Gladio, have been used , retooled, and repeated. How many like Sibel Edmonds, Kevin Shipp, CAF and yes, Greg – have had the will and courage to help draw back the curtain at what price to themselves…
      That said…your statement seems definitive…so likely you never really buy it or hold it…you are simply always just using the paper to get more fiat and rankle or amuse those that do not share your view…

  2. roy madison

    I listened to a talk by Milton Friedman about the great depression. He said it was all the fault of the federal reserve and its policies . If they really were the cause , there is nothing to keep them from doing it all over again. They are some very bad actors .

    • Anthony Australia

      Oh course it is, dating back for centuries.

  3. paul ...

    As John Williams says: “The real numbers say the economy is getting worse … not better … so the Fed must stimulate the economy … by cutting rates 1/4 to 1/2 point … and likely will be doing quantitative easing (money printing) very soon” … and as the threat of a global recession looms on the horizon … I don’t expect central bank gold buying to end anytime soon as Stan likely does … in fact in the first half of 2019 central banks bought 374.1 tonnes of gold … and Stan is betting against these banksters and selling gold short right into the largest net increase in global gold reserves in 19-years … the Fed and Trump need to weaken the dollar against other currencies … but other currencies will also weaken … so it’s going to be a race to the bottom … and gold will be the last man standing … unlike Stan most people realize that you have got to own gold because “all the currencies will be losing value” … so everyone needs to buy gold “at any level” (forget trading the dips) because the actions of the Fed and Trump are being directed to drive the price of gold up, and up, and up!!!

    • Rachel

      thanks Paul

    • paul ...

      You know … it’s not just the Fed that is printing up IOU’s … other governments and corporations are selling paper (bonds) to get their hands on cash as quickly as possible “to buy real assets with intrinsic value” … all bonds are a fraud ( a paper IOU promising to pay you “essentially nothing” as the amount of printed fiat explodes upward at an ever increasing rate … just look at how fast the US is printing up paper debt called dollars … https://www.usdebtclock.org/ … and then consider that fiat debt promises are being printed up in other countries “at even a faster rate” (that’s why the US dollar is “relatively stronger” then other currencies) … so all the fiat currencies are being debased toward zero to solve the world banksters debt problems … but “solving the banksters problems” will leave people “with worthless paper money” … the people must solve their own problem … they need to act to save themselves by buying gold and silver “now” (as a re-set will always be made to occur without warning as the banksters need to catch people unaware to keep the transition to a new money system as orderly as possible)!! … https://www.zerohedge.com/markets/global-debt-bubble-enters-its-blow-stage

  4. K. Wayne

    It’s one thing understanding “Real” numbers (as presented by John Williams) when used to gauge the true status of the economy and extrapolate what the remedies should be….but an entirely different matter when you have control of Monetary policy (as the FED does) and use false metrics to decide whether its appropriate or not to lower or increase rates. To some degree we already know that the QE and the lowest rates on record have done nothing globally to stimulate growth…let alone here at home.
    I will refer back to my recent comment with reference to the matter of cutting rates at the next FOMC.
    K.Wayne 08/30/2019 •
    On the issue of the FED vs Trump…..I agree that on face value the FED will not come to the party…to make life easy for Trump or his re-election in 2020.
    In saying that what we have in front of us is the next FOMC meeting 17-18 Sept. At this point I would unequivocally state that the FED will NOT move on interest rates. The key was given at the last FOMC .. rates were taken down by 25 bps…..where Powell stated …..”mid-cycle adjustment”. One and Done ??? Dudley in his recent op-ed conveyed the message very clearly.
    Additionally ……..the Markets are expecting 50 bps cut at FOMC. Everything globally is centered around this “given”. When it doesn’t transpire …… what do you think will unfold ?
    The Stock Market has taken comfort (already) in this expectation….. and factored the 50bps into the pricing of everything and is happily on its way to new highs!!
    To be sure….the FED will not cut rates until markets correct by at least 30%. At that stage and perhaps by Dec-Feb 2020 they will start to aggressively ease on monetary policy….in the order of 50-100bps…..but not before widespread carnage and a destitute public…..with Trump taking the blame….using their “reckless policies” card.
    The trap is set. Time to get liquid very fast for the upcoming massive transfer of wealth.
    We then enter the world of ZIRP…where the entire yield curve out to 30 years stays inverted. Germany has just joined Sweden in the category of negative rates for their entire yield curve.
    Once at that level (which is then consistent with the EU/JAP) we will see the Banking Elite turn the screws and implement their next goal of NIRP in America. Then its literally all over. We will be following the Elitists Blueprint to perfection…..where cashless society/ digital currency in a multi polar world. One that is very different to what we have been accustomed to for 75 years.
    Don’t believe me ??? … this is from the horses mouth (soon to be the new IMF Chief replacing Lagarde who moves on to bigger pastures in the form of ECB but has the same intentions and beliefs ).
    https://journal-neo.org/2019/09/01/is-the-fed-preparing-to-topple-us-dollar/
    He presented this at Jackson Hole 3 weeks past …and it IS the BLUEPRINT for what they (the UNELECTED RULERS) are planning. BE warned.

  5. Anthony Australia

    Drop Dead Fed!
    The entire worlds central banks are in cahoots.

  6. JC

    Greg, check out this outstanding post by Martin Armstrong. Hope to see him back on USA Watchdog again in the near future.

    “How Was the Elite so Wrong with Trump?”

    https://www.armstrongeconomics.com/international-news/politics/how-was-the-elite-so-wrong-with-trump/

  7. paul ...

    You know … governments can’t afford to have the people lose confidence in their printed money … because a time will come when even if they say they are going to back their paper dollars with gold or silver … the people just won’t trust them!! … it may actually take weaving some gold directly into their new gold backed paper dollars to make their currency as good as their word and thus restore peoples confidence (knowing that they can put the paper dollars in a cubicle and melt the physical gold out) … that can never be done with “gold backed crypto currency” so don’t have any trust in crypto (no matter who creates it … it is still just a promise … like the Fed’s IOU’s that promise to pay you back “with more paper IOU’s” … crypto’s will promise to pay you back “with more electrons”)!!

  8. Marie Joy

    IF The Fed wants to destroy President Trump, they will let a huge recession happen. It is, after all, NOT about saving us. It’s about saving bankers.

  9. Jerry

    Greg,
    The groundwork has been laid for the next phase of President Trumps plan to take down the deep state. Check out this EO.
    https://www.whitehouse.gov/presidential-actions/executive-order-modernizing-sanctions-combat-terrorism/

    It is worth mentioning that many of the banks that control the federal reserve bank are foreign. Namely the City of London Corporation, the Bank of England and of course the Peoples Bank of China, who is said to own a controlling share of the Federal Reserve Bank. One of the largest gold vaults in the world, is located in the basement of the old J.P. Morgan Chase Bank building across from the Federal Reserve Bank in New York City . Guess who owns it? That’s right. China.

    Did you catch the terms confiscation of property and assets owned by foreign terrorist deemed to be a threat to the United States ? I can’t imagine a bigger threat to the United States , than a banking cabal threatening to crash the American economy and blaming it on President Trump can you? With Brexit coming October 31st and crashing the EU, the banking cabal is desperate to find a scapegoat.

  10. Da yooper

    Love to hear from John Williams a true Patriot

    One thought comes to mind regarding the corrupt fed

    Figures don’t lie – But liars sure can figure.

    End the corrupt fed do it for the children

  11. True Historian

    The FED/Central Banks are a corrupt FIAT banking system. The FED, in particular, is an anti-Constitution currency mechanism. Gold/Silver is the the USA Constitutional currency.
    “Destroy the FED”/”Kill the Creature”
    Read “The Creature from Jekyll Island”, Please.

  12. Prophet

    The fed rate is a measly 2% if the Roaring US economy cannot thrive under those conditions , one has to ask themselves just how Great is this economy …Trump has done some things to get us back on track, but if we need zero percent rates to continue , there are HUGE problems ahead..

    • K.Wayne

      Neither ZIRP or NIRP will fix the problem. The FED knows it too.
      Ray Dalio wasn’t kidding when he talked about a “Paradigm Shift”. He wasn’t just referring to the lopsided boat theory/herd mentality/rationality in relation to markets and investments. This is also about how accustomed we have all become to having the USD as the world’s Reserve Currency. We are indeed headed down a very dark path.

  13. Country Codger

    Fantastic Mr. Williams. We really look forward to and enjoy, each of your appearances.
    Shalom,
    CC

  14. paul ...

    Today is 9-11 and we get a wake-up call … that Hillary and her gang are still up to their old tricks … sending caravans of American weapons to Syria? … when is Trump going to stop Hillary and her buddies from supporting the terrorists in northern Syria … the Syrian war is supposedly over and 30,000 truckloads of American weapons are still needed by rebel groups? … to threaten who? … is it any wonder Turkey is buying more S400’s from Russia (just in case) … for who knows … Hillary and her gang may soon begin sending American F35’s to these terrorists … to overthrow who? … the Turkish government?? … https://www.zerohedge.com/geopolitical/erdogan-breaks-silence-says-us-sent-30000-truckloads-weapons-syria

    • paul ...

      Let us all remember that it wasn’t airplanes that took down the WTC and hit the Pentagon on 9-11 … it was terrorists (both foreign and domestic) who used bombs and missiles in their attack upon America to create a false flag “Pearl Harbor” event … so they would have an excuse to go to war and capture the poppy fields in Afghanistan for their drug trade!! … https://www.zerohedge.com/political/new-york-times-blames-airplanes-911-attack … it would have been a fitting gesture if Trump chose today (Sept 11) to bomb the drug cartels poppy fields in Afghanistan and announce getting out of that country after 18 years!!

      • paul jr.

        They used planes.

  15. Wm

    USA @ near full employment…wages up & spending only slowing a bit…China is a ”Paper Tiger” with Trump holding XI’s feet to the fire! You doom & gloomers have it all wrong again! The FED will lower rates & this Holiday Season will bring huge retail buying…
    Yes, pray for the Piece of Jerusalem…

    • K.Wayne

      Wm…take off the rose colored glasses. What planet are you on ?

    • Eugene Roberts

      Trump should of announced the start of repealing the Patriot Act.

  16. H. Craig Bradley

    PUNY MEN

    One thing I do agree with John Williams on is the economy is NOT getting better but instead, weaker overall. Aggressive Accounting and financial engineering allows many Corporations to hide their real earnings from investors. What good is it if a company must keep borrowing at cheap rates just to stay in business or pay their dividends ( coverage ratio)?

    Low rates are hiding a (growing) minefield of incompetence and insolvent companies and whole governments alike. Makes me really nervous to think about it. I think we are heading for real trouble and this mess is not going to hold together that much longer either.

    Manufacturing is hurting and President Trump’s Trade War with China is NOT helping this very important sector. Even though manufacturing does not employ that many people (7%), due to robots and technology, it still is a important part of the economy. In contrast, the much ballyhooed “consumer” segment is only about 35% of the total economy, while various government transfer payments are 15%-20% of the pie. If manufacturing is hurting, the economy is going to feel it and I believe the stock market is just coming around to this realization.

    REF: https://www.bloomberg.com/news/features/2019-09-09/a-manufacturing-recession-could-cost-trump-a-second-term

    According to Economic Forecaster, Martin A. Armstrong (Blog), this economic cycle (8.6 years) which began in 2015 will conclude (bottom-out) in early 2020. After that, we should expect increasing inflation as producer inputs become scarcer and more costly, pushing up consumer inflation overall. Higher relative inflation is coming in the next few years.

    So, I can not imagine why the FED would want to lower interest rates just to “keep-up with the Jones’s” and then have to later raise them all of a sudden down the road, causing another stock market crash and recession during the next Presidential term. No matter who is in-office or what they do, the Business Cycle always wins out in the end. We can not alter the business cycle with low interest rates or other gimmicks.

  17. paul ...

    On 9-11 … Russia’s banksters say there is a possibility for $25 dollar oil next year … is this part of a bankster “fake-out plan” … to make consumer prices on some items less expensive worldwide … while at the same time … they explode all world currencies into a hyper-inflation?? … anyone buying 50 to 100 year bonds based upon oil prices being pushed down (to show there is no inflation) are out of their minds … but one big benefit of this Russian 9-11 announcement is that … $25 dollar oil will put the evil “9-11 Saudi conspirators” into bankruptcy!! … https://www.zerohedge.com/energy/russia-considers-possibility-25-oil-next-year

  18. H. Craig Bradley

    ONE (Little) QUESTION:

    If the FED is lowering interest rates on behalf of the banking system with the hope that is will stimulate, then how do you explain the stated reason for Brokerage Charles Schwab recent layoff announcement ? ( The reason being that Charles Schwab Bank is coming under margin pressure as rates (unexpectedly) decline further and must layoff employees and cut costs ASAP in response).

    https://www.wsj.com/articles/charles-schwab-to-cut-600-employees-or-about-3-of-staff-11568160112

    • paul ...

      The ONE (Little) QUESTION you ask can be answered by just ignoring the “silly reason” Schwab is giving for laying off its people … if Charles Schwab’s banking arm has to pay out “less money” to its customers because interest rates are falling how does that create a “profit pinch”??? … the more likely reason is “lower rates is making their customers withdraw their free cash” held in Schwab’s bank … that Schwab used to make “trading profits” for the firm!!

  19. Walter Baumgarten

    I was in Washington DC three weeks ago and I was amazed at the amount of construction going on all over on the federal highways and the Metro train system. I would assume that these projects are being paid for by federal dollars and wondered whether the money was simply being printed up our of thin air, or pulled from any part of the budget that they cares to raid. The scope of what was underway was so large that surely it has to have an effect on how the numbers reporting comes out in their bogus reports. Back home in our state, the government is desperate for income and is taking away as much of the subsidies from our local municipalities as they can grab. Trenton is also floating more and more debt every day. It is certainly not as healthy as the spending might indicate.

  20. paul ...

    After the West created a color revolution in the Ukraine … what did Russia do? … they annexed Crimea! … did the West learn anything? … seems not … creating a color revolution in Hong Kong will simply result in China annexing this big world financial center and “taking full control” a lot earlier then it was agreed upon!! … https://www.zerohedge.com/geopolitical/beijing-has-proof-foreign-intervention-hk-unrest-summons-german-ambassador

    • Justn Observer

      Paul…what ya think before or after Hong Kong buys the London Stock Exchange = hmmm – after? then China would OWN the London Exchange?
      𝙻𝚎𝚎 𝚂𝚝𝚛𝚊𝚗𝚊𝚑𝚊𝚗 ⏳‏Verified account @stranahan · 7h7 hours ago
      Headlines + Hong Kong Makes Bid for London Stock Exchange = C=
      https://twitter.com/Stranahan
      foe other strange outings…

  21. Dave

    Calling Greg anti-Trump for honestly evaluating the economic situation and finding some clouds is self-defeating and dangerous for Trump supporters. Conservative talk radio has generally become 99% pro-Trump just as CNN is 99% anti-Trump. Both ends of the media spectrum are filtering news to fit their outlook. That is not good. And especially for Trump and the GOP who may have tough sledding in 2020. A certain radio host during the Obama years would take delight in highlighting month after month how the original economic numbers had been revised down. Things were worse than we thought he’d say. Now that person is mum on the revisions downward on many economic indicators. That shows a lack of candor. Honest evaluation is always the best approach – the good and the bad. Greg’s willingness to go there when so few others are is a breath o fresh air.

  22. Theta Lion

    John is right…. I think Wayne Jett’s recent PM forecast on your show is spot on.
    Martin will begrudgingly agree that PMs will be bought as a safe haven…..he hates gold….
    but he completely missed the last run up and he will miss this too.

    • Johnny

      You have absolutely NO idea what Martin Armstrong does with his personal investment portfolio. It could very well be he has amassed a treasure trove of bullion but prefers to maintain a public perception exactly the opposite of what he does. Can YOU think of at least 1 reason why he might do that ?

      Can you “think” at all ?

      • Theta Lion

        “Can YOU think of at least 1 reason why he might do that ?”……yea, Johnny, do your homework……duckduckgo “martin armstrong fort dix”. Gold is the perceived enemy of the bankers and Martin doesn’t want to get sent back for a return life ending stay in Fort Dix. For that reason alone, I can’t blame him…..they tried to kill him in prison…..he’ll never come out and support gold. In his shoes, I wouldn’t either. All due respect, I was attending his 2013 conference in Philly when the Bank of Cyprus bailed itself out with depositor money https://www.telegraph.co.uk/finance/financialcrisis/10024209/Bank-of-Cyprus-executes-depositor-bail-in.html …..the bank doing exactly what Martin was predicting what insolvent banks do that fateful Saturday afternoon. He is genius when it comes to banking but he’ll never promote holding significant amounts of bullion.

  23. iwitness02

    What really bugs me, is that we have an economy that can be heavily influenced by a presidential tweet, or a news blurb floated out by the media. An economy that can be influenced by words (usually lies from the MSM) is not a strong economy. It is all fraudulent in my opinion. Just as the Fed itself is fraudulent. (not constitutional)
    The DOJ, FBI DNI CIA NSA State Dept. IRS etc. all fraudulent. The only thing real, is that we the people are being screwed by government and the Fed and the worldwide central banking system. No justice, no sound money. So far the pretending is not ending. I know it takes time, but I was hoping that it would be ending in my lifetime. My faith is getting a little wobbly. The powers that be are so addicted to screwing the people out everything good and decent, that they are never going to stop.
    Hong Kong wants freedom. The UK wants freedom. I want freedom.
    I’m back to checking my hands to see which one fills up first.
    Everything I want is always a day away.
    Everything I don’t want is in my face, everyday.
    Contrary F’ing world we live in. Its really something to see.
    Sorry to be so negative. I think it has something to do with the world we live in.
    Seems to breed stress.

    • iwitness02

      Just to balance things out a bit: I do have full faith in the Holy Bible.
      I know that there will be salvation.
      I don’t live a life of despair.
      But I do get ticked off from time to time.

      • paul ...

        Jesus was bugged out the same as you W-02 … at least Jesus was able to walk right in on the banksters and overturn their tables … our only option is to continue to buy physical silver as they manipulate the price downward … knowing that eventually … they won’t be able to cover their shorts … and we can drive them into bankruptcy … the way we know Jesus wants us to!!

  24. Kay

    Trump is the only person in the ring who can handle whatever happens with our economy. If our economy crashes I want Trump at the helm to guide us through it. My concern is the citizens. I don’t think we have citizens that will work hard to get out of a hole. I hope Americans will rise to the occasion.

    John Williams is an honest reporter. They don’t make men like him anymore. I am sure Trump knows what Mr. Williams reports. Let’s pray Trump has a plan to keep America great even in a storm.

  25. Justn Observer

    Greg,
    If gold is going to go where they all say, why would anyone be selling it? And if they do…what are ‘they’ going to do with the ‘fiat’ they take for it…what are ‘they’ buying …? Land? Fixed physical assets like railroads or income producing businesses or supply channels for essential goods, food, and energy?
    With the huge world downturn of food production…one may not buy a bridge in Brooklyn…but some land in North Brazil, Paraguay? Oh, that’s right the Bush’s and Clintons already have.
    And if large amounts of PM are sold, that would soak up a lot of circulating currency…and would be a neat way to ‘tighten’ = create even more inflation at a time of possible/probable food shortages with the prediction of an early freeze well ahead of the late plant harvests? We should know that within several weeks. Looks like our friends in Australia and Canada are seeing crop disruptions already…and it did snow in Utah yesterday…and expect snow in ten states this coming week… And we are just entering hurricane season…so heads up southeast coastline…and then too…did they ever change those antiquated 30’s ownership/possession of PM laws? One does wonder if like the push for ‘gun’ registration…they already have via your phone/bank records lists of those ‘monster box’ orders Jim Richards spoke of? Lets hope if enacted…at least they give back some ‘new fiat’ for the confiscated ‘real’ wealth?
    And…if the weather does turn extreme….which direction would people think they would likely head if there was not a wall? hmmm
    Guess will leave off with a Trey Gowdyish quote , ‘in a whole universe of coincidences’ how odd that Jeff Epstein’s girlfriend Maxwell’s sister’s companies are being so well funded by the DOD /FBI data files? what? Could this be true?
    https://www.sbir.gov/sbc/chiliad-publishing-inc
    And of course on this date today, even on Fox News we get the bell toll and names read out…without a mention of the unanswered questions of the who and why…when most people do not ‘believe’ the general narrative?
    https://www.mintpressnews.com/newly-released-fbi-docs-shed-light-on-apparent-mossad-foreknowledge-of-9-11-attacks/258581/
    Never a shortage of food …for thought.
    Interesting too…is that the rebuild of the Pentagon was called the Phoenix Project, and it is built on swamp/tidewater land called ‘Foggy Bottoms’, a great place for swamp creatures to lurk?
    But I will digress and leave you with this…think the U.S. is NOT infiltrated at every level…including the cameras pointed at your cameras in children’s bedrooms and phones and your computers? Think again…
    https://youtu.be/olGSOydtOgY
    yup THOR in everyone’s computers including =
    𝙻𝚎𝚎 𝚂𝚝𝚛𝚊𝚗𝚊𝚑𝚊𝚗 ⏳‏Verified account @stranahan · 23h23 hours ago

     More

    𝙻𝚎𝚎 𝚂𝚝𝚛𝚊𝚗𝚊𝚑𝚊𝚗 ⏳ Retweeted 𝙻𝚎𝚎 𝚂𝚝𝚛𝚊𝚗𝚊𝚑𝚊𝚗 ⏳
    Do NOT MISS shocking, impossible-to-refute connection of Jeffrey Epstein and pedophile Ghislaine Maxwell to CIA, NSA, DOJ, DHS that nobody in the MSM is reporting on….

  26. paul ...

    American and Israeli air strikes “on a sovereign nation” is a sure fire way to get Iraq to expel all US forces from their country (could it be Bolton was fired for setting these bombing raids up??) … https://www.zerohedge.com/geopolitical/watch-us-jets-drop-40-tons-bombs-isis-infested-island-iraq

  27. James Brown

    Greg, Great stuff as usual. Hey, on one of your Friday wrap ups, can you talk about the labor participation rate? How many working age Americans are out of work? They can’t all have enough money to retire on. How many of them are collecting Disability Income from Social Security? How many are on food stamps?
    I work for five different companies, two are W – 2 and three are 1099. The government counts that as 5 jobs, when it’s really one guy with 5 different jobs and still under paid. They show a statistic, “177 million jobs”, but it’s only 87 million people employed.
    Nobody knows about this.
    Thank you Brother!

  28. Bill B

    GREG:
    When I consider what Bill Holter reported and then what John Williams had to say, it does not paint a very good picture for us. However, Gods word says, ” Trust in the Lord, and DO NOT lean on your own understanding. Only He knows the future. Someone famous says, ” Fear not, God the Father and his Son Jesus Christ are in complete control “

    • Greg Hunter

      Bill B,
      People cannot fathom this, but I think the only way out is a huge debt default. Yes Treasury default. The rich would be creamed because they have their cash tied up in bonds they think the public will always be forced to pay. Catherine Austin Fitts says, “If we can face it, God (the Father) can fix it.” “Fear Not” my Brother!!
      Brother Greg

      • john

        Greg,

        a sustained increase in rates will accomplish what you are saying – we can’t go forward without destroying the debt.

  29. Andy Johnson

    I thought Greg would do a 9/11 video. I wonder what Greg thinks about building 7. I wonder what everyone on here thinks about 9/11. I happen to know someone who knew it was going to happen and was told to stfu or else.

  30. Scott

    Very grateful for this timely interview, Greg – thank you. Mr. Williams is much admired and loved in our household.

    Wishing you the very best,

    Scott

  31. Anthony Australia

    The MSM are all over it now LOL

    https://mobile.abc.net.au/news/2019-09-12/debt-bomb-fallout-threatens-australian-economy/11505248

  32. Jerry

    Treasury department releases statement.
    https://home.treasury.gov/news/press-releases/sm772?fbclid=IwAR178cpLEvKKcRVI_buc0rX6eEPREP9RuMCm1gQ_h88npD_0ASnUMKJtSSg

    Confiscation of property and finances? Am I missing something here, or is the treasury preparing for some type of terrorist attack?
    For months my contacts have been saying the military is preparing for some type of civil unrest or attack in zone #3.FYI Zone #3 is Washington D.C.

    As we move closer to the elections, and Brexit in October 31, I am wondering how desperate the deep state will become? How far will they go to retain power? I am also wondering the real reason John Bolton was let go? And……. Im also wondering if he is related to that ass clown Michael Bolton.

  33. jim carter

    The President and the Fed do not have the same objective. The President wants prosperity so he will get reelected; the Fed wants to perpetuate their lucrative Ponzi scheme.

    The easiest way to analyze complex systems is to focus on basic points first. Conceive of a new nation on its first day wanting to fund operations by deficit spending. They induce a bank to give them credit if they promise to pay the bank the declared amount (principal), plus interest, at the end of the year. The bank gives them an exclusive form of purchasing power. At the end of the year, even if the nation acquires all of the credit that has been created, there is NO money to pay the interest. The interest was never created; it does not exist. A contract that cannot be culminated is an act of fraud and is void from its inception.

    Every deficit spending Federal Reserve Note in circulation has been created on a U.S. Treasury account maintained by the fiscal agent for the government as above; i.e., the FRBNY. The only way to continue the sequence is to issue more deficit spending security and use the new principal to pay the interest on prior debt. This is a classic Ponzi scheme. [The operation of commercial banks are not relevant to this sequence nor do they alter the result.]

    The deficit spending Treasury security that was conveyed to the FRBNY is auctioned as a decimal component (new cash) of securities to roll over maturing national debt. The money from the sale cannot go to the government. If it did so, it would eliminate any increase in the National Debt. It would also eliminate any increase in the amount of money (actually book entry credit) in circulation (inflation). Where does the money go ?

    Disbursements of all government funds from auctions of Treasury securities are handled EXCLUSIVELY by the FRBNY along with any related action which they wish to claim. Ref. 31 CFR 375.3. Roll over funds are paid to select Primary Dealers who are tasked with collecting redeemed securities. They are client accounts (not operational accounts) which have never been audited.

    Ref. https://thedailycoin.org/2018/08/16/a-look-at-the-federal-reserve-through-a-different-lens/

  34. Matt

    For the viewers calling out Mr. Williams on his failed predictions of hyperinflation, keep in mind this man is making educated guesses within unchartered economic territory. His greatest skill is relaying factual data to us. If he is asked for a prediction, it’s just that, a guess. Give the man a break and be grateful of his willingness to communicate such important information!

  35. breamrod

    I agree with Greg that we need a huge reset. Higher rates would do it I think. There’s way too much debt in the system. The pensions are going broke with O to low rates for these last ten years. The Fed knows this and that’s why they are so reluctant to lower rates. Lower rates just result in a huge misallocation of capital . I personally think rates here in the U.S. are going up. It will be interesting to see if Powell still says his little quarter point cut is a mid cycle adjustment. The Fed wants higher rates!

    • john

      Breamrod,

      I have been saying this for some time as well – rates are going to rise and we are going to have one hell of a deflationary collapse – stocks, bonds, housing – perhaps gold and silver as well – along with contraction of the money supply. Think about this one example but know it resides in every county/city across the US – a couple making $200,000 a year – living in an upscale neighborhood with a house costing $750,000 – parked out front is a nice $50,000 car x 2. They have very little equity in the house – essentially there because rates were low. Next, comes a spike in rates for which as the rates rise the value of the house and cars contract – now they are very upside down in the house as what little equity they had is obliterated by increasing rates which suppresses demand for high end housing – then they walk – just like in 2008 but now it is much worse. You can understand the inflationary argument because printing money has been the game – but velocity of money has been stifled – so inflation has been “contained” . Now, if gold is at $ 1500/ounce and rates are this low – will it have a chance of atmospheric levels if rates rise and there is a return to normalization of yields? The argument for increasing rates is just common sense – pensions need it, the government needs it to attract capital and the banks need it in order to increase the spread at which they borrow vs what rate they can charge on loans – banks need a rate of return also. Gold is a great asset but you will need to see its direction when rates start to rise. like any asset you have to know when to sell it.

      • Greg Hunter

        Gold works in inflation and deflation and maybe even better in a debt destruction cycle (deflation)
        You got to know when to hold it not sell it.
        Greg

        • john

          true – that is why it would be very prudent to watch the gold price as rates start to rise – if they even do. In the recent past, if I recall correctly, when the fed started QT gold went down. The argument against gold being that it does not pay a yield. This observation between rates and gold will become more obvious as rates start to rise – so you have to watch it closely. I own gold in its physical form – a lot. IMHO, the inflation message for gold has not materialized – look at its price as a function of money supply/rates and it is flat. I do feel that if the fed does more rate lowering gold will move towards $1900/ounce. However, if rates really start to spike there is going to be a big seizure in terms of liquidity and destruction of existing debt instruments and equities – gold holdings may be poised to enter into these markets right now if that scenario were to occur – so you can see as well that deflation can hurt the gold price – we just have to watch because we are in uncharted territory.

        • H. Craig Bradley

          Have some AU and HOLD It Tight, indefinately !

  36. H. Craig Bradley

    THE GLOBAL MONETARY CRISIS CYCLE BEGINS IN 2020

    This is going to be real difficult and impossible to escape, as the whole world is involved or effected, as be the case. America’s problems and the dollars problems are now the whole world’s problem and there are no exceptions. So, about all we can do is adjust our expectations to one reality: Maximum Uncertainty and Minimal Predictability. Uber Volatility Coming at Us ( A Storm Set ). There WILL be many financial losses. Therefore, you should expect to be reduced or expect (hope) to be lucky. Few understand what is happening, except Martin A. Armstrong, of course. Time for a repeat visit to USAW for more explanation later this year.

    https://www.armstrongeconomics.com/world-news/climate/will-the-elite-wake-up-in-time-confront-the-left-climate-fear-campaigns/

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