Full Default of Global Debt Coming-Andrew Hoffman
By Greg Hunter’s USAWatchdog.com
Financial writer Andrew Hoffman says the Fed has a lousy track record for predicting the economy. Hoffman explains, “It’s not just the Fed, but all central bankers have been wrong on pretty much everything they have said. In the case of the Fed, in particular, which is by far the most important central bank in the world because what they . . . do destroys everyone else, it’s been three years, and they have been talking about economic recovery, and then they decide to raise rates just as the economy gets the absolute worst in our lifetimes. We are getting closer to the Yellen reversal when she is forced by markets to admit they have been wrong.”
Hoffman, who is a former Wall Street oil analyst, points out, “Oil is about to go under $30 a barrel, and it may go a lot lower. This is an historic imbalance, and it’s not just crude oil, but all commodities. . . . There has been too much money printing for too many years and too much financial engineering and cheap and easy loans, which has created a gargantuan oversupply of absolutely everything. Former Fed President Richard Fisher just went on CNBC and . . . literally said we manipulated the market because it was falling and we created a bubble, and guess what? It’s bursting, and there is nothing you can do about it. . . . One by one, they are all saying they were wrong. Greenspan is saying it. Bernanke is hinting at it. A lot of Fed governors that are leaving are hinting at this, and pretty soon, the whole world will know it.”
On the Fed raising interest rates again, Hoffman says forget it and explains, “You can’t have interest rates go up in the slightest—at all because we already have the highest indebtedness in the entire history of the world, not just here, but everywhere. On top of that, you created all this excess supply that never would have come to being, like all this oil. . . . I believe that when you couple that with all this debt, there is only one thing that can happen and that is a full default of all these billions and trillions of dollars of debt. Then, of course, the only thing central bankers know how to do is print money . . . and that’s what they are going to do until they hyper-inflate every currency in the world. . . . When I look at the balance of evidence, it’s impossible for me to consider a scenario where something extremely bad doesn’t happen in the next 12 months.”
Hoffman says things will spiral down so dramatically that, at some point, Yellen and the Fed will have to do an about-face on interest rates and resume QE (money printing) to try to pull the economy back up. The reaction for gold and silver prices will be to spike higher as Hoffman contends, “If the Fed actually comes out and says we are done with rate hikes and we are going back to easing again, I think a full flood of a dam breaking like in the Superman movie is what you are going to be seeing in the gold and silver markets. I don’t think the cartel will have a chance in hell of stopping the positive momentum. . . . Once the Fed admits it was wrong and there never was a recovery . . . I think that’s the endgame for the gold cartel.”
Join Greg Hunter as he goes One-on-One with Andrew Hoffman of Miles Franklin Precious Metals.
(There is much more in the video interview.)
After the interview:
Andy Hoffman is a prolific writer and writes a new article almost every workday at MilesFranklin.com. If you would like to read his analysis, please click here.
Well, Bob, don’t let US stop you! What are the stories that would send us into orbit? 🙂
Here is something that will send you into orbit…
The bankers are in the process of accumulating the wealth of the world. Very few privately owned assets can be termed “real wealth.” Genesis 47 describes how Joseph had storehouses full of grain to feed the people, but he didn’t have a welfare program. During the first year of the famine, Joseph took “ALL THE MONEY” the people had for only one year’s supply of grain. The second year he took all their cattle for another year’s supply of grain. The next year they said, “We have nothing left but our bodies and our land. Buy us and our land in exchange for food and we and our land will be servants to Pharaoh.” Genesis 47:21 states, “And as for the people, he removed them to the cities and made slaves of them.”
Se the whole story about the 1987 FOURTH WORLD WILDERNESS CONGRESS.
“Money” out of thin air. Looks like fraud to me. We the People must Arrest (Stop) them.
Am not sure who wrote this????
Joseph was righteous. he saved the wheat in its stalks for total of seven years before the famine.
He is the one who interpreted the dream of “ALAZEEZ” who saw 7 fat cows eaten by 7 lions, and 7 wheat stalks that are green and another 7 that were dry.
He had the knowledge because his heart was pure and clear like his dad Jacob. and he was known to interpret the dreams which is a science on its own.
he told them about the famine that will hit for 7 years so they have to prepare for it by keeping the wheat in its stalks for 7 years except whatever they need to eat.
He was depositing the crops of whoever wanted to participate in exchange of returning the wheat when famine hits for the same amount deposited.
1 for 1
Not like the evil ones we have
1 for 1+interest…..!!!!!!
The farmers were split in two:
One that followed Joseph who kept with him their crops for 7 years and they were spared the famine that hit for the next seven years, they did not lose their land nor their lives.
The second that followed the dark esoteric temple priests and they did not save with Joseph rather they saved with the temple that charged them INTEREST, they lost every thing.
Bob. Racked my small brain and MOJ doesn’t ring any bells with me. I’m just one of a million others out there that is concerned about other hard working, hard charging productive Americans who are being shafted by the medical industry.
It all started 5 years ago, when I took notice of the people in my life, generally older that were taking 10-15-20 different freaking pills prescribed by a doc, supplements, vitamins etc, etc…DAILY! So I ask, “what are these for, why, how freaking much money do you waste on this crap?” “Don’t you know that a well balanced diet, a walk and exercise will eliminate most of this garbage?”
So I look at the prescribed stuff. “This stuff is advertised on TV, have you ever watched the spiel the give you?” Answer, “yes”…Me…”who in the hell can advertise (their own business) like this…72 different side affects (for each pill!) that do/will/could make you feel even worse!?”
The medical industrial complex is who, and with whoever is running the US governments blessing. IMO, it is about $ and control. Especially now since only working, self sufficient people have to pay for it. Their ultimate goal is to burn you out on paying the high and increasing cost of insurance, wear you down, for you to “give up, quit, drink their kool-aid…and join “the dole” with those who love that wet dream known as “redistribution of wealth.”
Half of the US and then some has quit life. The only way that they can survive is for the federal govt to take money from producers with the barrel of a gun and give it to them. If/when there is no resistance, all hell will break loose and those psychopaths who want this will attempt to purge all. You and I both know it has happened many times throughout history.
But hey Bob, this time will be different…don’t you just love the word , “utopia.”
Blessings back at you…”don’t you ever go down without one helluva fight”
Hoffman and almost every other silver guru have been wrong for many years. Telling
people NOT TO BUY A HOUSE and to buy silver. Now a young generation will live as renters. Silver was the great scam of this generation and has ruined many lives. Why are there no good alternative media forecasters ? They have all been wrong. Silver is an industrial metal. It is no longer money. Buy gold.
“Once the Fed admits it was wrong and there never was a recovery . . .
When has the Fed ever admitted that it was wrong? Not going to happen….
Last Sunday former Dallas Fed bank president admitted the Fed was creating uncertainty and was like Lucy pulling the football away from Charlie Brown. Then Stanley Fischer, Fed Vice Chair said they front loaded the boom in 2009 by offering to give you two hamburgers today for one hamburger tomorrow. It’s tomorrow so he said the tide is receding and we’ll know who was prepared by seeing who is wearing a swimsuit. These two SOB’s are so arrogant admitting what they’ve created and at the same time caring less about all of us who they screwed, so yes they do admit their mistakes and know there’s not a damn thing anyone can or will do to them for causing all this. It’s MUCH worse than you think.
I highly recommend the documentary movie “The Act of Killing”. After watching that movie, I appreciate the wisdom of our founding fathers who provided us the constitution as a safeguard against tyrannical government.
The founding fathers of the current Indonesian government are killers and rapists who still prank about openly on the street and brag/reenact in front of the camera of their acts of killing. That is what America will be like if the Black Lives Matter movement were used by the government as the enforcers/brown shirts to fundamental transform this republic.
WOW! Excellent interview! Andy was sensational. Your guests are consistently economically fundamentally grounded. Again, it is all about WHEN? Based on everything I am seeing and you and your extraordinary guests are reporting, WHEN is happening NOW!
Thanks Greg – You are the most coherent voice in the wilderness of reality!
I have a very important question to all our precious metal advocates. Why have the Western bankers and miners sold so much gold/silver to China and Russia who they perceive to be the enemy ? Would they not keep this for themselves for when the proverbial hits the fan ?
Did they decide a while ago that US/ NATO military hegemony would reign supreme and the IMF a new SDR currency would supersede all moves to a gold backed currency ? Even with Russian success in Syria they continue to sell their own gold to China. Could some one please enlighten us on this dichotomy as our elite bankers cannot be that stupid.
IN short…the USD.
Gold is the antithesis of the Dollar.
Ross asked, “Why have the Western bankers and miners sold so much gold/silver to China and Russia who they perceive to be the enemy ?”
Who said bankers anywhere are selling gold? They did in the 1990’s, but, as far as I know, none of them are selling gold now. Funny that, eh? As to miners, they sell to make a living. Same as corn growers. Also, why would miners and corn growers perceive the people in China and Russia as the enemy? Because the talking heads on the TeeVee said so? And, nevermind there are middlemen, a.k.a. the sort-of free market.
helot, I put it another way. China is buying up a lot of the world’s gold production. Why would the Central Bankers allow this to happen when they could buy it themselves ? Bill Holter is suggesting that China has done a silver swap for gold and the West has obliged to stop defaults and keep a lid on prices. http://sgtreport.com/2016/01/the-chinese-silver-fox/ JP Morgan has bought 1200 tons of silver in the last few yrs. There is a lot of things happening behind the scenes that we don’t know about.
Silver is the Achilles’ heel not gold, it is scarce.
If that swap is real it is saving the ass of USD.
That increases my suspicion that China is on the same page as US against Russia + Germany.
China is after the biggest prize.
Do not forget the BRICS and what they stand for is totally anti USD. How can China be working against Russia. Its association with the US comes through the avoidance of default which if allowed to occur, puts a massive dent in the plans for the “Prize”.
China owns US.
They won’t let their belonging down.
if i have one single hope that this country may survive is because China will do its best to make sure so.
Russia + Germany is a lethal combo for China.
You have won me over to your conspiracy theory, including 911, and your assessment of Germany + Russia coalition is spot on.
China doesn’t want to be led by the US like a client state like Japan and she needs Russia as a balancing chip. However, she doesn’t trust a powerful German and Russia coalition either.
I infer China wants to keep the options open. She may join the German & Russia coalition or she may align herself with America depending on which way the wind shift.
Here is a clue:
Who is selling the gold at a fire sale to china?
My i say US?
And may i say that most of that gold is GERMAN gold which they just cried out to get it back and they were given the middle finger?
Thanks for the reply & clarification, Ross.
“China is buying up a lot of the world’s gold production. Why would the Central Bankers allow this to happen when they could buy it themselves ?”
That’s a good question. I don’t have the answer. I’ll have to mull it over. Perhaps the answer will be along the lines of: Rats, fleeing a sinking ship, build no nests?
Yes, ‘the seen’ and, ‘the unseen’.
Final thoughts for the evening: If all the world’s Central Banks were plotted on a horizontal line, would the B.I.S. be above them all? Would the B.I.S. ‘own’ all their gold? Does the B.I.S. buy gold? Is the East vs. West conflict really a deception, a distraction, and a head fake of sorts?
There is an elite fraction and fight to converge into a single entity.
They face a bigger threat from outside.
You have to think of :
1- black budget before and during the WWII.
2- the numerous number of UFO’s that hovered around after someone picked up the signal of the first nuclear explosion (which may hold the key to something much bigger that we do not comprehend yet but someone for sure was curious enough to pick it up)
3- the crash in Roswell in 1947 on which heel the National Security Act in US was established (hmmmmm)
4-the large amount of gold that is kept for the black budget. (part of it the Japanese gold in Philippine that Karen Hudes talks about)
5- the gold bearer bonds with numbers that are astronomical, and oddly enough was dismissed or buried as faked bonds (you do not fake 7 dollar bill that does not exist…you fake some thing in existence)
6- the SPACE PORTS that are certified.
7- the papacy that approved baptizing aliens….(Hmmmm.)
And so forth.
So elites are converging to face something of a greater magnitude that we are totally ignorant of.
Or that what they will let us think of.
In my opinion, it’s because the move from West to East is intentional. When you look at everything that is happening, it’s the only conclusion that makes sense. It seems that America is being gutted before everything moves to the East so that the banksters can continue making their fortunes on a fresh population without so much debt.
China has more debt than the USSA… Round about $28 Trillion as I recall… Chip
You are right.
China will go down like all the countries will when the big crash occurs, however as Bill Holter says, China will have plenty of gold after the dust settles, along with new infrastructures (roads, freeways, cities etc.). Since America has not maintained/kept up significant infrastructures, and depleted gold reserves, when the dust settles the power will transfer from West to the East. America has intentionally become a nation of consumers/cobblers with most industrial production occurring overseas. When the day occurs that US currency is not accepted for importing goods/food into America because it is worthless paper, the East will take a front row seat in their new dwellings and watch the carnage… because America given EVERYTHING away.
How much of that is borrowed externally ?
Regarding #5 gold bearer bond, are you referring to the two Japanese businessmen who were arrested in Italy?
And #6 space ports, what space ports?
You do not fake a non existing entity.
To fake something it have an original one.
US of America is running a Ponzi Scheme. China and Russia are making withdrawal from this Ponzi by converting their investments from digital statement currency to hard currency.
Bernie Madoff had no choice but to pay off whoever wanted to make withdrawal from his firm until there is no more money in the bank. The west is doing the same with the real money which is gold.
You should google “London Gold Pool” to get a better understanding via the historic lens.
The West has sold its gold – and the gold it was holding “securely” for other nations – to the East because of Greed. They wanted the money.
For every ounce remaining in storage, there are now 350 “owners”.
Grafique – Unfortunitely for the 350 who all have the same claim to the gold that the big banks do have will get shafted by the banks … possession is 99% ownership. But those 350 will probably be compensated with worthless banks stock or future ious.
Andy said he joined Miles Franklin in 2011. He was hired because he was saying the same thing then. Every year, 2011, 2012, 2013, 2014, and of course, 2015, Andy was writing about the economic calamity that was coming. Clearly 2016 is the year. Ok. Andy was wrong for 5 years. However, he is right about this year because it is the same thing he said in years prior. Eventually, I hope Andy is right because I would be so disappointed in Andy if he was wrong for another 5 years.
Can’t we just once have an interview by Greg Hunter with any of these people he has been interviewing repeatedly for years about, “why they have been wrong before continuing to be the reasons for an economic collapse to be much further into the future than imminent? Why can’t they continue to rig markets like they do and have done, and will continue to do for the foreseeable future?”
Why can’t we talk about why the people Greg Hunter has interviewed were wrong about their predictions?
Any one picking a date is likely wrong. That being said, they have the idea of the general market direction correct. It is hard to predict when a poncho ponzi scheme will fail but when they do, they fail spectacularly.
Life would be too boring…. 😉
I second that. I’m sick of hearing these people gloat about the few things they got right but never mention everything they’ve gotten wrong. Most of them have gotten a lot more wrong than right. Now that everything looks to be falling apart they make the bold prediction that, “It’s all going to fall apart…very soon!”. I’d recommend people just start thinking for themselves than trying to have these people tell you the future.
Last year..this year..next year.
People need to understand that it is THE MESSAGE that needs to be appreciated not the actual timing of the reset.
The message is the system is flawed and very likely corrupted.
For that reason the game has been extended and pretended for as long as possible.
Cracks are beginning to show and that should concern us all, as it may be indicative that failure of the system is likely at some point.
Therefore if we take to heart the saying that KNOWLEDGE IS POWER it serves us to appreciate the knowledge that people like Mr. Hoffman share with us.
He has the credentials and experience to play any side of the fence but he chooses to play the side of disclosing to us the risks rather than enrich himself by fleecing us like many are doing.
Instead of attacking him for the message why not thank him for sharing his insights.
I sleep well at night knowing I am prepared and when I do not sleep well it is usually because I am in fear for my friends who have not prepared.
Yes i am pissed about the mainstream media. However, that does not invalidate my question.
Why can’t they continue to be wrong?
They, Kirby, Hoffman, Holter, Celente, Schiff, Mannarino, John Williams of Shadowstats, Casey, etc…
All predicted this would end sooner than it has.
I listen to Greg Hunter’s interviews. I know I am right. It’s archived. This should never have remained as it has throughout the Obama presidency. We are going to have another president before those listed above are correct about their predictions. The ones they made and got wrong, as well as the new ones they are making.
My question is justified.
Very well Mr. Hunter, there will not be an economic collapse in 2016 because we are STILL in the process.
The success of this current presidency is that the process has been ongoing throughout, but no collapse. Therefore my question is
Why can’t they continue to be wrong about an economic collapse during the next presidency while we are still in the process?
Answer? It is in process
I will use Hillary’s description of “White Privilege” to reflect the ongoing collapse which is happening now.
America is a fish tank inside a burning house. We are the fishes inside the tank mistakenly believe the orange glow as another cylindrical event like sunrise and sun set.
Perhaps that is why everyone got the timing wrong. Nobody has seen or experienced a house fire. Therefore, they try to gauge the timing of the event to the closest phenomenon which they have seen before which is the sun rise.
You are absolutely spot on regarding the next collapse, it will be biblical.
I needed to add that I appreciate Greg Hunter for asking them to make all their predictions.
I’m glad that they got the timing wrong. As the matter of fact, I hope they got the whole thing wrong. Do you understand what you are asking? Do you really want $50,000 gold by the end of this year?
Gold is an insurance again economic calamity. 2011, 12, 13, 14 and 15 are blessings which the Chinese gave us. They did that not because they like us but to buy time to prepare themselves for the inevitable.
The volcano has been smoldering for the past 5 years. Do you want to stay put like the residents of Pompie just because it didn’t blow in the first few months after the first quake?
Btw, how many times have you heard a politician said we can never repay our debts? Do you think they are all fear mongers ?
Scott and Tim;
I’m not sure what world you’re living in. Greg’s guests are right now and have been in the past too. Baltic Dry is drying up. Oil is crashing. Equities are all over the place – mostly dropping drastically. Junk bonds are crashing. Unemployment is through the roof if you look at the real statistics. Global and sectarian violence threaten life as we know it. I have a feeling you guys still have your homes, jobs and food on the table – therefore – nothing is happening. I’m quite sure that things are normal for Queen Elizabeth as well. Do some research on Canada and Brazil. Not exactly your typical banana republics – it’s shocking.
I don’t doubt your list. I have heard it before many times.
Still they are wrong. It has not collapsed.
It will not while Obama is president.
That is the point.
Aside from the stock market or ANYTHING the Fed might say or do, the oil price collpase has gone on too long.
There will be many bankruptcies of oil companies and their financiers and any derivatives related to those deals.
and there is NOTHING the Fed can do about it-it’s already in process.
AND what if Russia voluntarily or involunarily defaults?
I feel your pain too BUT…..
I went into PM’s heavy in 2010 and saw them rise a lot through 2011 but then I have lost 70% of my value since. I even tried to get some of my associates to go into PM’s based on the fundamentals but they laughed at me and played the stock market bubble up. They are still in it and 3 times wealthier while I am -70% poorer. This has been very frustrating but then I have to think. Could I, knowing what I know and what most of Greg’s guests have been talking about…. been able to play that bubble up and ignore the fundamentals all these years? The only way I can live with losing 70% of my value is by looking back and thinking I couldn’t have been a sheeple and played it up knowing what I know will happen. I thought it would have happened any of those years, 2010, 2011, 2012, 2013, 2014, 2015, and now think it will happen 2016. I suppose it is possible it could go on for another 5 years but I don’t think so. The only difference is that the PM’s and miner’s I own will go up 20+ times in value and go up fast when it happens. So although I am worth 30% now, I will be worth 0.3 X 20 = at least times 6 of my 2010 value as far as preserving wealth… Most of the bubble players are scrambling right now and may very well lose all those gains and then some.
So, my friends who played the bubble up, most will not buy hard assets and just like the dot-com bust, they will likely lose their investments because they will not dive into wealth preservation. The very few who do… will be a small % and very lucky investors.
The only bad thing about this is that I suppose I could have played the bubble up and tripled my wealth from 2010, but knowing the fundamentals… I look back and cannot imagine myself being able to do so as it could have collapsed any of those years. So the ones who did play it up…. all I can say is ignorance is bliss.
Still, it has not happened yet but it WILL. So that is how I live with the fact that I am at present, worth 30% of what I was in 2010. It will happen eventually and I will be glad I stuck to my guns…. literally and figuratively.
IN OTHER WORDS, I would rather be wrong for 6 years early than wrong when the time comes.
Finally, I cannot blame Greg’s guests for calling the timing so poorly as I though every year the same thing. I truly do not think any of them are in the business to dupe people… I think they are just honest folks who see deeper into the rabbit hole and know that the enviable is coming. If the inevitable doesn’t come, it will be worse as that will likely mean a total nuclear war.
I have a question for you RichM.
How are you valuing your worth?
I assume you are using USD as the metric for value?
Sad. Very sad.
Nonetheless, you only have an unrealised drop in “worth” if using the USD basis for value.
There are no free lunches in this world….you must pay for everything.
In your case (as with many others)..that price is patience.
Those in the fantasy land of equities who believe in the never ending golden brick road…will be mesmerised by the devastation that will engulf them all. As you say the minority (smart money) will have left the dumb money holding the bag…past tense……(aka ….May 2015).
We are at the same place and time as the 1974-76 gold correction. The circa 46% correction has been replicated and matched for depth and duration. It will take another 4 years from now, for gold to truly shine.
Stay focussed…you will be handsomely rewarded and be afforded the luxury (like the Elite ) to pick up many assets for pennies in the dollar.
Yes I understand and thanks. I realize my loss in fiat USD’s is not really a long term loss because I bought hard assets and still have them. It’s just been painful is all but will be worth it I know.
Yes, being prudent while patiently holding something of tangible value is much better than the alternative of having nothing at all but worthless paper when it all blows. And when it does, all your stock market buddies (who played the rigged fools game) will come knocking on your door…
Great interview with Andy!
Just one gripe…. it’s about time all commentators and analysts joined forces and called out the Fed and exposed them for the lying, treasonous thieves that they are. Those of you who are knowledgeable and understand what this cartel has done to wreck the world’s economy will not be judged well by history when it is seen in hindsight that you did not campaign to disband them.
The financially literate are in effect complicit by not having made this challenge. The people that are ignorant in financial matters and can’t comprehend the complexity of it are the only innocents. The aware need to show leadership in this impending chaos otherwise you will very soon have a 4th Reich on your hands. How will you explain your lack of action after the event when you are asked why did you not speak out?
PS Whats all this talk about starting QE4…they never stopped QE3!
Colin you are spot on As Voltaire said to learn who rules over you just look at who you are forbidden to criticize Frederick in Turkey
p.S. Still peaceful here in our little village
Someone’s gotta (keep) paying the bills.
RE: “The people that are ignorant in financial matters and can’t comprehend the complexity of it are the only innocents.”
Are they really all that, “innocent”? I mean, – They Can Read – can’t they? !
They could learn -if they wanted too – the same as us, but they choose not too.
What’s that say?
…Did they participate and make things worse?
At the same time, it runs in tandem with, “Why can’t they continue to rig markets like they do and have done, and will continue to do for the foreseeable future?”.
It’s been described like an avalanche on a pile of sand. One grain of sand will eventually set things off, every time it looks like the avalanche is about to happen, The Fed flies up in a helicopter and grabs the grain of sand about to start the avalanche.
Former Fed official Fisher says they did that, and they are no longer going to, in one respect.
No one other than them knew beforehand. …You get the drift?
Austrian economists accurately describe that as something like: Bust, Boom – Pump – Bust, Boom,… then Crack-Up Boom! Crash.
Imho, “The aware” have been showing leadership in this impending chaos. It’s just that, eventhough commentators and analysts have called out the Fed and exposed them for the lying, treasonous thieves that they are, People don’t want to hear it! I.e. thehousingbubleblog in 2005, or Ron Paul and his supporters at the local level being marginalized and purposely shut-out in 2012.
All The People want is more ‘Dreamtime’ happy-talk and then complain and demand and expect a TARP/HAMP bailout when things go South.
How does that, ~1700’s saying about ignorance and freedom, go?
I don’t think the people want “dreamtime happy talk” The fact of it is most people eat three meals a day. When they hit the light switch at home the lights come on. Turn on your faucet? Water. Go to the atm you get money. Grocery store? Stocked full. Here in Georgia we have new construction going on everywhere. The reality is life is going on pretty much as it has for most Americans. Why would they thunj “Mad Max” is coming any day now?
Thanks for proving my point about ignorance Mark Maples, it appears you have absolutely no clue what ‘Dreamtime’ happy-talk is all about. This might help, read the whole bit:
“America is broke and impoverished. The surges of paper money generated by the Federal Reserve have created an entire false economy that is prone to breakdown and ruin.”…
The point I was making is that nothing much has changed in the daily lives of Americans. Alot of people have been saying a collapse is imminent, so far no collapse. My own opinion is that the system id terminal, 5 days or 50 years from now I don’t know. You sir, do not know either.
“I don’t think the people want “dreamtime happy talk””
The above wasn’t your original point? Are you moving the goal posts?
Anyway, you say, “nothing much has changed in the daily lives of Americans.” A great many people with ruined lives would disagree and the facts would back that up. (I.e. flat wages and rising costs of living coupled with 25 million excess and empty houses rotting away.) However; at the same time (even-though you generalize way too much) you’re kind of right. With gobs of credit & mounting debt, false notions of wealth, and false notions of reality, nothing much has changed in the daily lives of many Americans. Dreamtime, baby, Dreamtime.
Operation Chaos is a complete failure. As we are wiping out witnesses and financial connection with the snakes, ISIS is biting the hand that used to feed it. Be careful out there.
thank you for your concerns foil I am in a lovely quiet village near the Greek Island of Rhodes and everything is peaceful here Hopefully it will stay that way
I will use Hillary’s description of “White Privilege” to reflect the ongoing collapse which is happening now.
America is a fish tank inside a burning house. We are the fishes inside the tank mistakenly believe the orange glow as another cylindrical event like sunrise and sun set.
Perhaps that is why everyone got the timing wrong. Nobody has seen or experienced a house fire. Therefore, they try to gauge the timing of the event to the closest phenomenon which they have seen before which is the sun rise.
You are absolutely spot on regarding the next collapse, it will be biblical.
Off subject but then again….perhaps not…
Dr Angus Deaton [2016 Nobel prize winning economist] was recently interviewed on RT. I was totally gobsmacked to hear what he had to say at the 19.35 mark when he was asked the question;
Do you have a favourite Presidential candidate?
Deaton; replied and I kid you not:
“I am not tremendously enthusiastic about anything that I have seen so far.
My favourite would be if President Obama would run again for a third term. Unfortunately that is prohibited in the American constitution.
This is a Nobel prize winning economist.
There is no hope for the US….. or the world!
PS this is the link:
I can envision this Administration allowing Hillary the freedom to run wildly about the country (wearing herself to the bone with false hopes) in order to create the ultimate illusion that there will be an actual, valid presidential election for 2016. My guess is that at some point, this Administration could create an event that is big enough to declare MARTIAL LAW (could also be major war or a STOCK MARKET CRASH). I could see OBAMA (with his pen and phone) creating another one of his EXECUTIVE ORDERS declaring a need to stay in power for an unspecified period of time. Absolutely no one is officially standing against him and his unlawful actions now, and so I can see him doing this. Something feels really wrong (fishy) to me regarding this next election.. but I guess we’ll just see.
OMG, gag me with a spoon, if Obama stays on as president. I think there will be an uprising….
Please remember that nearly all economist that win this prize are hard core socialist. They don’t believe in capitalism and thus they really are not legitimate economist.
They cant run a lemonade stand or work in the real world so they “theorize” about the economy none of them are entrepreneurs.
Alex Jones at infowars.com seems to think Obama is being groomed for the Secretary General position at the United Nations
“the only thing central bankers know how to do is print money . . . and that’s what they are going to do until they hyper-inflate every currency in the world”
This is why the game will never end. There is an ebb and flow to everything everywhere, and PM’s might go higher, but these end of the world scenarios are simply fantasy.
Read it again. EVERY CURRENCY IN THE WORLD. So who the heck is going to buy the metal when all anyone has is worthless script?
Which is why PM’s will never go ballistic. And even if it ever did, it would be confiscated by the central banker controlled governments. History people. How do you think Fort Knox got gold in the first place?
Every fiat currency in the world has failed over time, bar none.
Fort Knox got some gold from confiscation and some from conquest. I don’t think that they will be able to confiscate your gold this time, after they have stolen your CD’s, IRAs and 401-Ks. To be honest, I don’t expect the Govt to survive the above mentioned thefts.
In the Great Depression, a dollar was still backed by gold. The country was a great exporter and had a current account surplus and a budget surplus.
You can’t really compare them to now.
I don’t believe there is any gold in Fort Knox as if there were why wouldn’t they allow an independent audit
Great point I have always argued that we were still viable during the Great D plus we were a creditor nation.
RE: “So who the heck is going to buy the metal when all anyone has is worthless script?”
I don’t know, let’s ask the Russians when the Soviet Union fell, or the people in Zimbabwe when their currency hyperinflated, or the Argentinians when things went to Hell there. There’s easy to find links online describing all that. And, don’t forget what the Vietnamese did when Saigon fell, many people there traded their “worthless” paper money for thin sheets of gold and headed for the hills. Now, how and why would they do that? [I had a hard to find link about that but lost it, any of you have it, or were there?]
Anyway, RE: “And even if it ever did, it would be confiscated by the central banker controlled governments. History people.”
Ah-hem, you mean like they outlawed drugs in America since, I don’t know, 1970, at least? …How’s that working out? I’m sure you won’t find any drugs in tightly controlled environments like say, prisons. Or, in every public school in America. Psft.
I think the Chinese and Russian will back their currencies with the gold in their reserve. We will probably back ours with federal public lands and whatever gold we have left in our reserve. The new currencies will be equity base instead of debt base.
If this fiasco could be resolved without going to war, the Chinese and Russian may buy real estates in NYC, San Fransico, Miami or federal lands here which will be dirt cheap with their currencies which is convertible to Russian’s oil, Chinese products from mines/factories or gold.
Greg and Watchdogs,
America and the world are about to pay the price as Ludwig Von Mises predicted in his great work HUMAN ACTION. The Fed through its funny money has created the Biggest Mal investment bubble known to man!! Liberals and Neo Cons are the dumbest people on the planet; the Neo Cons destroy with weapons of bombs, guns etc and Liberals destroy with their false doctrines. Liberals love to spend other peoples money for their pet projects. All liberals should be made to do hard labor for a year so they learn the value of money and all Neo Cons forced to live in a place under attack by the American war machine and the few that live write a book about their experience.
Hillary Clinton and those fools who want to vote for her are devoid of any itellect or common sense. We are about to face the worst economic crises the modern world has ever known and it will render the Liberals and Neo cons to the dustbin of history!!!
The Almighty G-d of Abraham, Issac and Jacob will not be mocked and his only begotten Son who lived in the flesh Jesus Christ is on alert! Central Bankers are reminded how Jesus chased the Money Changers (Bankers) from the Temple.
WOE UNTO THE CENTRAL BANKERS FOR YOUR TIME IS AT HAND!!!
A sign of hope- Young Brazilians are protesting in the streets and screaming ” Less Marx more Mises”.
Ludwig Von Mises was the real deal on the economy he wrote a book which destroys any theory of socialism.
I read that years ago. It is significant that one of the final chapters is “War”.
Hmmmmm…I just rechecked my Deuteronomy chapter, and it says there in black and white ‘when you lend money to your brother, do not charge interest, but charge interest when you lend to the foreigner’, so how do you expect the God of Abraham, Isaac, and Jacob to deal harshly with the bankers, when the bankers are only obeying the instructions given to them? No word, though, whether you are to create money out of thin air or whether you are to lend money already deposited in your bank….maybe up to the branch manager? LOL
Dear all WatchDoggers,
Just wanted to bring to your attention something I have viewed and that you should be familiar with
using and interpreting on your own, i.e. The COT report. This is a weekly “report” put forward by our “friends” at the US Commodity Futures Trading Commission , with an underline of “Ensuring the Integrity of the Futures & Swaps Markets”….yeah right…..whatever you say .
scroll down to ICE Futures U.S. > Long Form > scroll down 6 reports to “U.S. Dollar”
Anyway , getting back to these reports. They show us simple folk and others what is the positions thru the previous Tuesday of reported week what movements have transpired in so called markets. A bit of a lag/time delay in this world of technology where every financial move we make as well as markets is observed by the Banksters, but yet we can not see what they have done till Friday evenings and that only takes us thru the previous Tuesday.
In viewing the reports you will well see that as in all markets there are long positions and short position and both the Commercials /Banksters and Non-Commercials, i.e.HedgeFunders (who by the way are borrowing from the Banksters for these positions) are both long and short at almost all times….to what degree is the important question of balance. A good way to ensure your longevity I may add, not putting all eggs in one basket in simple terms. This also allows those with the deepest pockets i.e. Banksters,to maneuver (can you say manipulation?) those markets to their favor.
Getting back to my point at hand. My feeling in viewing the recent COT reports is observing the large , er let me take that back…..huge Short position the Commercials i.e. Banksters are currently at in the gold ole US Greenback , Dollar. The recent Friday report shows us the Banksters (“Commercials”) are Short 58,322 , Long 9,538 making a overall NetShort Position 48784 (Huge as historical positions go) and the Funds (nonCommercials ) on the other side of the “trade” with 53,589 Longs , 12,976 Shorts making them net Long
40,613 positions (also huge to their side of trade). The second grouping down shows you the weeks changes and you can see the Banksters piling on more shorts thru Tuesday and adding a few longs.
As a side note the Non-reportables are the inconsequential marks such as you and me , still something for the Banksters to see and take from .
You can view “Historical” reports from years past and even in the beginning of “all heck braking loose” in December 2007 you will not see Dollar position this skewed.
My take on these Liquidity Flows , for that is what they are, is the herding of the Sheeple into the “safety”
of U.S. denominated Fiat currency , and then when they, i.e. the Banksters are good and ready, put the hurt on all those on that side of the “safety trade”. When I say hurt , what I am portending to is a generational , well heck let us be real here, a multigenerational economic kibosh that will leave those unprepared with their heads spinning.
Those doorways are way too narrow for everyone “In” to get out , and it will be fast in my opinion.
Hope this helps a bit of understanding even if you take the “other side”.
Keeping the faith……..
That is also why oil is being set-up for a huge pop. The coming dollar drop will include war…….. I’ve been saying the banksters are setting themselves up to steal the oil/gold and oil and gold producers.
When I say “steal” I’m referring to pennies on the dollar. That includes $1000 gold and sub $30 oil….. I would jump on board if you can.
Unless usage icks up propelled by positive economic or military related activity I think a pop would be far off.
RE: “Those doorways are way too narrow for everyone “In” to get out , and it will be fast in my opinion.”
That’s exactly how the guys at thehousingbubbleblog are saying what will happen with things like investor owned housing and REITS. …I almost feel sorry for those easy money “investors”. Almost.
I’ve said it here before and I’ll say it again WW3 is coming and it starts this year.
It was a very informative report. It gives insight & understanding from the ground up in things most of us don’t think of or understand. Andy is a good speaker, clear & to the point, and sending a clear warning. He certainly provides the prod to more diligently prepare for what’s heading our direction! Fiddlin
Those of you who think that China is going to delay the launch of its Gold backed Yuan reserve currency until September, might want to rethink that theory.
There is a reason that AIIB is going online in mid January, and why the Chinese have set April 1st as the date they will reset the Gold Benchmark making Shanghai the central hub. With correlated currency devaluations it is quite clear that they are planning on separating from the Fed based dollar system, and not trying to compete against it. It is also quite clear that Gold will be the x-factor in this transition luring countries to cheap money that is backed by “real assets”.
The $54,000. dollar question is, how fast will the markets and the Fed react to this move, and what kind of destruction will it cause in the markets? I don’t know. But one person who does is George Soros. He has taken his money out of the markets and bought Gold. What does that tell you?
Addendum to my last post
China is preventing banks from purchasing dollars. What does that tell you?
They buy Gold in one hand, and drop dollars with the other. Does that make sense to you? But yet the MSM narrative is “China is going down the poop shoot”. Ah…I don’t think so. They’ve got Gold. We’ve got Janet Yellen.
I get what you’re saying about China, Jerry. However; at the same time, I don’t. From reading about things like over-production, empty malinvestment ghost cities and run away stock markets with multitudes of the unemployed, or soon to be, in China, over at thehousingbubbleblog it seems like they aren’t any better off than any other country, maybe even worse off. How do those facts mesh with what you’re presenting?
Pardon me if I’m using the housingbubbleblog a bit too much, it’s just that they’ve been front and center while thinking of your discussions.
Do not listen to western MSM media. They are peddling a false narrative about China. America is the one who’s broke. Who borrowed 3 trillion dollars from China? Us. Who has been printing money while China has been buying gold? Us. Two weeks ago the stock market began its slide when China devalued its currency in preparation for separation. What does that tell you? The tail doesn’t wag the dog. The U.S. has created 600 Trillion dollars out of thins air since 2000. Go to U.S.A. debt clock and check it out for yourself.
Jerry, I never rely upon MSM.
Over at thehousingbubbleblog, for one, they detail how China has been printing up fiat the same way as the U.S. China seems just as broke.
Anyway, thanks for the reply.
Telegraph Sponsored Content
Hmmm… nothing hinkey about that.
This article was originally produced and published byChina Daily. View the original article here.
And then there is this: China Daily. Well, if you are predicting again and this time mid Jan 2016, a few more days will tell the tale.
AIIB to open in mid-January
China is saying April for the Yuan gold fix and that the bullion banks better participate… or else https://smaulgld.com/china-flexes-its-gold-muscle/
Precisely. The Chinese are making plans while we’re arguing who the next power ball winner is.
(Dr. Stephen Leeb: Chairman & Chief Investment Officer of Leeb Capital Management )
Leeb has repeatedly stated that we are underestimating China and that they are better off than we think.
I found it quite telling that Andy discussed the Baltic Dry Index. When you correlate that with the Railroad Shipping Index it paints a pretty clear picture of what the actual economy really looks like.
Even products bought on Amazon have to be shipped somehow, so the excuse that box stores sales don’t really count towards GDP is a moot point. Others have even said that shipping has come to a complete stop. If that is true shortages may only be a few months away.
I know for a fact that my son (who does industrial sales for a major supplier) lost almost $500,000 in sales last year, because his supplier couldn’t meet the orders.
That tells me his supplier either doesn’t have the money to carry an inventory, or they are not getting product in a timely manner. Either way, companies cannot survive without sales.
Jerry, I agree. I remember seeing photographs and video footage long queues in the USSR for food and staples. No one my age (fifty-ish) grew up in the US with food shortages although my grandmother passed on a few recipes from the Great Depression and WWII when items were rationed. I still use those recipes because they are simple and they are a reminder. On Sunday I mentioned the fragility of the on-demand supply chain system in the US. I think that in the US we take a lot for granted. Not everyone, but many people do.
RE: “Others have even said that shipping has come to a complete stop.”
See my comment near the bottom of the prior USAWD interview, Mish says, nope. And, he has charts and facts.
Mish does make a few good points on the topic, but his conclusion supports Jerry’s overall thesis.
Myth vs. Reality
Contrary to popular myth, shipping has not ground to a halt. However, shipping volumes and shipping rates have both plunged. 2015 was a disaster by any measure.
There’s no need to exaggerate. Reality is bad enough.
Mike “Mish” Shedlock
I have some bad news. Here’s what’s coming to a store near you.
If everything is so good, what’s changed? Contrary to what government employee’s think, people do not work for free in the real world. The day a bakery can’t make enough money to pay its bills from bread sales, it will cease to send out its trucks. Its just that simple. Oil companies are no different. The profit margin is thin. $60. a barrel to stay in business. Right now its $31.
Next 12 months eh? I think I agree with him. However I’m hoping it comes sooner than that. I’m certainly no expert whatsoever but hearing comments about the Baltic dry index from which I understand is one of those charts that can’t be manipulated is at all time lows probably isn’t a good thing. Also I’m following Jerry’s posts about this Chinese gold reevaluation around the April time frame could be an overnight game changer. I’m with Sayonara about no elections for 2016. It just doesn’t seem like it fits their narrative. I caught a few minutes of dear leaders state of the union… Apparently you guys are all wrong because he thinks the United States economy is absolutely unshakeable… famous last words. Greg, I’m absolutely excited for this thing to come off the hinges. I know lots of folks don’t understand that or that I might change my tune when it happens, but what’s the point of life if it’s nothing but a daily grind. I have bought food water, ammo, and lots of guns over the last 2 years and I’m anxious to feed the needy, I’d rather starve than turn someone away from my door and I’ll protect my family and those in need from those who come to steal and destroy it. That to me is living and storing treasures in heaven is the only thing that matters. So let’s get this thing over with!!
The scenario Andy and all the rest describe is based on the belief those pulling the strings WANT a better economy. It should be apparent by now that “they” are doing everything possible to create just the opposite.
If you are honest you will admit “they” intend on bringing this system down. If I’m correct they will RAISE interest rates again. They are, in fact, attempting to destroy the rest of the world (by strengthening the dollar more) that intends on walking away from the dollar.
Kind’a like a child who takes his ball home because they won’t play by his rules. If we can’t win (rule) then nobody will.
Whats the acronym hc mean? Hold cleaning in shipping?
I thought he meant “healthcare”.
Excellent interview Greg.
Since I’ve been following AH at Miles Franklin, he has been the most *spot on* analyst regarding the direction of the world economy. He called the Chinese Yuan devaluation(to the day) and he had been correctly predicting that for over the prior year, also he predicted they would have to gradually devalue a minimum of 20%. In the Summer of 2014 he was practically screaming that the demise of the fracking industry was at hand, long before anyone else was thinking about it.
So after consideration of his thesis on bullish PM news which includes cratering global economic trends and currency implosions, i have to believe he will, again, prove correct that when the FRB reverses course on interest rates(lowers them) in the face of declining markets and growing bankruptcies. Then, the PMs will begin their big upward move and will be resistant to manipulation attempts due to the tsunami of buy-side orders and Calls.
As he warns, it is a fool’s game to predict dates and prices but I’m predicting that Silver is a 8-10X mover (from today’s price) by year’s end; Gold hits new highs as well .
Oh happy day!
Hoffman emphasizes points that indicate the silver is the most undervalued asset on the planet. Take heed folks!! Increasing demand in the face of declining supply. The absolute kicker is that the USGS estimates that silver will be the first element that will become extinct, even at prices considerably higher. This politically independent agency determined, in 2010 that there were 15-20 years left of silver on the planet. Considering silver’s strategically critical uses (for which there are no ready substitutes) in electronics, munitions, macro-and micro-biology, water purification, etc, what do you think the price will be in Year 10, Year 15? I can easily make the case that silver, eventually, will become more valuable than gold. After all, little industrial silver is ever reclaimed, while virtually all gold ever mined still exists today in some form.
RE: “This politically independent agency determined, in 2010 that there were 15-20 years left of silver on the planet. ”
That seems like hot air. How the heck do they know that? Can they count the fish in the sea, too?
Only 50 years left’ for sea fish, as of Nov. 2006
There will be virtually nothing left to fish from the seas by the middle of the century if current trends continue, according to a major scientific study. Stocks have collapsed in nearly one-third of sea fisheries, and the rate of decline is accelerating.
You still didn’t answer the question. How do they know how much silver is left?
Do they side step like when I asked if they knew how many fish there were in the sea, they come back with a guestimate of how many years worth are left. Psft. No one knows either answer.
Silver to become EXTINCT by 2020…
In a nutshell, the USGS were partly correct. We currently have about 15 years left of Silver in the planet, but we only have about 7-8 years left of economically feasible Silver available for extraction. …
“we only have about 7-8 years left of economically feasible Silver available for extraction. …”
Is this like saying, “peak oil’?
Any articles on Silver Flows West To East???
i have a few
Stating to look like 2015 with all these predictions. China/AIIB/BRICS/Gold Comex/US Dollar/Reserve Status/SDR/PETRO let’s keep our eyes focused on what we know is happening. Jerry, waiting for an update or more recent news as the world moves out the dead fiat dollar.
Former Federal Prosecutor Says Hillary Clinton Could Be Indicted Within 60 Days (Or FBI Will Revolt)
Tyler Durden’s pictureSubmitted by Tyler Durden on 01/13/2016 09:39 -0500
Submitted by AnonWatcher via TheAntiMedia.org,
The leaking of the Clinton emails has been compared to as the next “Watergate” by former U.S. Attorney Joe DiGenova this week, if current FBI investigations don’t proceed in an appropriate manner. The revelation comes after more emails from Hilary Clinton’s personal email have come to light.
“[The investigation has reached] a critical mass,” DiGenova told radio host Laura Ingraham when discussing the FBI’s still pending investigation. Though Clinton is still yet to be charged with any crime, DiGenova advised on Tuesday that changes may be on the horizon. The mishandling over the classified intelligence may lead to an imminent indictment, with DiGenova suggesting it may come to a head within 60 days.
“I believe that the evidence that the FBI is compiling will be so compelling that, unless [Lynch] agrees to the charges, there will be a massive revolt inside the FBI, which she will not be able to survive as an attorney general,” he said.
“The intelligence community will not stand for that. They will fight for indictment and they are already in the process of gearing themselves to basically revolt if she refuses to bring charges.”
The infamous emails documented extrajudicial killings by the U.S. allied rebels, and substantiated motives for warring with Libya as underlined by energy resources, gold, and silver.
One email dated 2011 describes in the strictest confidence “One rebel commander stated that his troops continue to summarily execute all foreign mercenaries captured in the fighting.” It continues to describe the training that some rebels received from the Egyptian Special Forces units, while French Operations troops worked along the Libyan border from Egyptian bases. “These troops are overseeing the transfer of weapons and supplies to the rebels.”
Amnesty International, in 2012, had reported on their discovery of militia (rebel) abuses of civilians and anyone potentially associated with the Gadhafi regime. In a report, it documented torture and abuse of detainees in militia-run facilities: whips, cables, and plastic hoses were used to beat the detainees who were also subjected to electrical shocks.
DiGenova emphasized the seriousness of Clinton’s situation during the interview. “I believe that that charges must be brought by Attorney General Loretta Lynch,” he explained, “[If Lynch chooses not to indict Clinton] It will be like Watergate. It will be unbelievable.”
ZERO HEDGE 1/13
I have read numerous times on this site that the FDIC is not backstopping bank derivative losses with the banks. Wrong! Here is the article.
As this financial free fall continues, you might want to ask yourself, is it a good idea to put your money in the hands of a bank that has wrung up this amount of debt? That goes for you government trolls too. Don’t think for one minute that you’re exempt from the financial theft that has taken place in this country.
Sorry Jerry, you are wrong.
The FDIC is not backstopping bank derivative losses. Derivatives are not insured by the FDIC. Only deposit accounts such as checking, savings, money market deposit accounts, CD’s etc… are insured up to $250,000. Nothing else. So that article is wrong to say that “derivatives guaranteed by the FDIC and Federal Reserve”.
Here is some info about the FDIC insurance and what is insured.
And Jerry, are you accusing me of being a government troll? Just want you to clarify if that is the case. And please, until you gain more accurate knowledge about this subject I suggest that you stick to what you know something about.
“So that article is wrong to say that “derivatives guaranteed by the FDIC and Federal Reserve”.
Really JMiller? The linked article by Bloomberg over 4 years ago is wrong? Has Bloomberg retracted their article? Just Asking?
Do you have an opinion as to why the US government adopted Bail-in legislation?
Yes Macray, that article from the Daily Bail is wrong to say that “derivatives guaranteed by the FDIC and Federal Reserve. Did you not check to see what is insured by the FDIC? It is only deposit accounts. Derivative contracts are not deposit accounts are they? They are financial instruments and are not FDIC insured. And I never said that the Bloomberg article, that was linked to in the Daily Bail article, was wrong did I so why should Bloomberg retract their article? I said Jerry is wrong. Also that quote that “derivatives guaranteed by the FDIC and Federal Reserve” is wrong, which is from the Daily Bail article, not the linked Bloomberg article. That Bloomberg article says that “the FDIC, which would have to pay off depositors in the event of a bank failure”. It does not say that the FDIC would have to pay derivative counterparties.
As far as why the U.S. government adopted bail-in legislation, which was agreed to by the G20, it was to recapitalize the banks in case of insolvency but not with taxpayer money as is the case in a bailout. Instead money from the bank’s creditors, mainly the bank’s bondholders, shareholders and uninsured depositors, would be used to recapitalize the banks which is called a bail-in. Unfortunately that may not be enough for a very large bank failure and some type of taxpayer bailout may also be needed. As far insured depositors, the FDIC insurance would cover them however in the case of a very large bank failure the FDIC insurance fund is to underfunded and would probably need to borrow a large amount from the Treasury. This borrowed amount would be paid back to the Treasury by the banks however the banks probably could never pay back a large sum. So I think that the taxpayers will probably end up bailing out the FDIC insurance fund if there is a very large bank failure.
” taxpayers will probably end up bailing out the FDIC insurance fund if there is a very large bank failure”.
That seems incongruent or totally out of step with “no more taxpayer funded bailouts”.
More than likely the FDIC would fail and post bankruptcy. The FDIC was stretched like an elastic band the last episode of stress on the system in 2008-09. It utilised its capacity in full to draw down its line of credit from the Treasury. Banks had a very hard time paying back the FDIC to allow full repayment back to the Treasury. The FDIC works off the principle of the Banks paying premiums for the Insurance that the FDIC provides. At $500BLN ..that’s a heck of a lot of extra premium. Anything above that is suicide for the FDIC.
I agree with what you said but is not the “no more taxpayer funded bailouts” referring more specifically to banks and companies and not to something like the FDIC insurance fund? But what choice is there? If insured depositors lose money do you agree that there would certainly be bank runs that could lead to a financial and economic collapse. Capital controls would need to be put in place to try to prevent it but it probably would just delay the inevitable. I would guess that the lesser of two evils would be to loan, essential give, the FDIC the money. I was also thinking that the FDIC may lower the insurance limit back to $100,000.
Right there is the TRILLION Dollar dilemma that faces the Banking Elite (the ones pulling the strings). Do they run the risk of Capital Controls to save the Bank runs/financial system or do they push on a string to keep the system alive by printing more money…only to suffer from a hyperinflationary depression. Does it not seem ludicrous to you that extending more credit in order to avoid credit being destroyed is self defeating. It never resolves the fundamental problem…never will.
I will add for perspective purposes…that the Bail IN legislation is constructed by and for the purpose of ensuring Banking continuity. No mention is made of legislation being enacted to protect the depositors. The current protection afforded to depositors by FDIC is capable of being reduced at a moments notice. Be also mindful of who the FDIC creators were…refer 1933 Banking Act.
The biggest issue is the Dog wagging the Tail here. The Banks are the ones who keep the FDIC alive. Should the Banks fail then the FDIC has no source of funds to extend/make good its Insurance. Bail In regime is for ensuring Bank survival…..there will inevitably be cases of incapacity for the banks to make good on the large debt side of their ledgers.
I have read some of the legislation and there is capacity there for the Banks to hive off their assets into another shell whilst the carcass (with all the debt) is left to wither and die. Bankruptcy is a wonderful concept especially when you can have your cake and not share it with anyone.
Thanks SIG for your thoughts. I agree that the FDIC insurance could possibly be reduced at a moments notice but it probably would occur under some serious and extreme situation. At this time I believe that something like that happening in the next week or even in the next several months is very slim. What money that I have in the banking system is mostly in a well-capitalized community bank with no derivatives or even credit card loans but even then one should still have some concerns. I believe what you were talking about at the end of your comments was Orderly Liquidation Authority where the FDIC can create a bridge financial company. I have been reading about that recently. Thanks again.
Don’t get your panties in wad. I wasn’t referring to you. You’re to intelligent to be a government employee. 🙂 My only question to you is, do you trust everything the government tells you? If you say yes, I’m going to retract my first statement. Of course the FDIC would never lie?
But what the heck. If it makes you feel warm and cozy thinking the government really cares about you, than go ahead and believe what you want. The great part about a survival scenario is finding out how really smart you are, when the SHTF moment comes.
Thanks for the clarification. Do I trust everything the government says? No, who does. I do not even trust everything you or Greg says. As far as trusting the FDIC, I trust them probably more than I do many people in the ALT media. And there are plenty of intelligent non-MSN people who do not proclaim the Sinclair GOTS. Ellen Brown must also trust the FDIC. Just last week in the interview below at the 5:15 mark she said that the insured deposits are probably safe, CERTAINLY for the time being. I agree with that and most of what she says in the whole interview.
But he wouldn’t give a price after several x asking for one ! Just like “Rob” Kirby as then you praise him at the end ! Your in the business of selling fear nothing more or less , just like Madoff. “Oh don’t give me your money I don’t care ,I’m just trying to help you !” I’m really getting tired of the baltic index argument , bigger ships that were built years ago are the reason it looks like demand is down so big now, your selling fiction and I believe time will prove me right , all you guys are just displaced workers that are victims of technology and don’t know how to earn a living anymore and your lifestyle is on the block and you know it! You are desperate plain and simple, and I keep raising my rents and getting bigger checks ! One of my tenets used to be a stock broker , now he’s part owner of a car wash working 70 hrs a week for 25k ….accept your life has changed and get a job and go to work HA HA HA you idiot !
Greg he cant even spell and he truly is confused
I don’t like the sound of what is happening in Turkey.
Could you keep us updated at street level or would this be too dangerous given Erdogan’s psychopathic and deteriorating behaviour?
Colin I would love to however possible but as I have said I am in a small farming village in the far southwestern corner of the country and theres not much happening here my wife has family in Istanbul so I might get some info through them
Regardless of the size of the ship, it is what is in the ship right?
What a stupid statement about the size of ships?!
Yes…..you are really confused.
You are no so much confused as f’ing evil and insane. How are things in your mother’s basement?
I’m not as nice as Greg so…please by all means take this personal. I would like to think that you’re a government troll paid to post disinformation on Greg’s site. But based on what you’ve posted, I can’t imagine anyone that would hire you, since you don’t appear to be intelligent enough to pound sand in rat hole! But then, brainless jarheads are exactly the type of people the government likes to hire. My apologizes. Good work.
RE: “and I keep raising my rents and getting bigger checks !”
Ah yeah, they cover that over at thehousingbubbleblog, too. Rents are falling and landlords are having a hard time of it. A Very hard time.
Landlords like him are smug now, however; things are a changing. And, faster than they know. Yup, time will tell.
I think this comment will come back and bite him in the butt, “accept your life has changed”.
Unfortunately, that will probably apply to every single one of us as well. …Such is life, in an empire built on debt and false promises. …Turtles to the sky!
One of your ‘tenets’ was a stockbroker. And you, no doubt, were an English professor. LOLOL
Really Confused…… It must really suck to be you!……..sorry Greg, I couldn’t help myself.
Ok Einstein give us a price! Whats your rebuttle? what? you own realestate? collecting imaginary money? from AH that have never worked a day in their lives (stockbrokers) and you presume you have an IQ? I’m just happy you said you were in realestate…confirming what a moron you are lol….
Really Confused you are really confused true, but don’t leave out uninformed.
Care to tell us how many of your renters are on government assistance program ?
“all you guys are just displaced workers that are victims of technology and don’t know how to earn a living anymore and your lifestyle is on the block and you know it!”
You may want to consider keeping your day job, you know, just keep raising your rents. Your fiction writing needs a little help. Perhaps this link may be of benefit?
Now that’s funny. 🙂 🙂
Great interview. This is my first post here but I wanted everyone interested in the oil market to know that huge news came out on oil last evening: Russia (the world’s biggest oil producer as well as the biggest supplier to Europe) announced it will be pricing its oil in RUBLES starting early 2017. (Russia and China also have alternatives to the Swift system to move money internationally). Goodbye Petrodollar.
… Perhaps a couple of well known mid eastern leaders currently returning to dust should have waited until the big boys ( Russia & China )made their move. The petro dollar and massive military spending are certainly connected — and the basis for much of America’s imperialistic foreign policy. I expect some significant back-against-the-wall style push back from the Empire.
RE: “Russia … announced it will be pricing its oil in RUBLES starting early 2017. ”
That’s spooky. Reminds me of just prior to the self-defense force of NATO invading Libya . And, of Iraq before Gulf War II.
I am Not prepared for a nuclear Winter. Nor, do I think I ever could be.
Rosengren, Summers say economy may not be strong enough to handle 4 Fed hikes
By Greg Robb
Published: Jan 13, 2016 12:03 p.m. ET MarketWatch
looks as though Hoffman has it right…
Tulip. I am not as smart as most on this site but from what I understand the FED can print for bankers, and have no control over the economy. The problem is with the use of the printed currency, and borrowed currency for production. When the out of touch rich try to show the working man how to live the illusion then illusion meets reality.
I’m trying not to post too much, but this is important. Look at the Baltic Dry Index for crude oil. http://investmenttools.com/futures/bdi_baltic_dry_index.htm
It’s almost flat lining. If that index is accurate what does that mean for the U.S. economy? I just don’t see how these oil companies can pay $100,000. a day to transport oil, and not raise prices. Something is wrong.
RE: “I just don’t see how these oil companies can pay $100,000. a day to transport oil, and not raise prices.”
Some people call that, ‘The Dry Cleaner Effect’. It happens all the time on Main Street America. A business comes in and sets up shop, undercuts the competition at a loss, then – after awhile – goes out of business due to no profit. But, only after ruining the existing well run competition.
[I learned that on thehousingbubbleblog, too. Again, pardon me for bringing up that site so much. I have no affiliation. Just a thirst for truth, and a desire for sharing that truth.]
Does this imply that oil use in this country is collapsing? I just don’t believe that. Economic activity that I see is humming right along. Is there something more to this?
I don’t know. But the charts don’t lie. At some point these oil companies are not going to be able to take product at $30. a barrel. My oil sources say it takes $60. a barrel to break even. I get helots point, but business will not, and cannot run for free , especially if they can’t pay their loans back to the banks. They don’t get to print money like the government.
Ha! Anyone who follows Andy Hoffman knows he can speak at length without taking time to breathe. Greg, i believe this interview books the shortest time for your side of the conversation….as you admitted with a grin , a”stellar performance”!
I don’t always follow AH on miles franklin, as i find the sound quality is sometimes poor. But Andy certainly does his homework…and somehow remembers his facts.
One note: I believe the story of ‘No shipping’ is the mid Atlantic is a bit of a red herring…since the ship locator services do not penetrate the mid atlantic.
All in all…a man with considerable experience and perspective …a good interview.
How can one not be a democrat and work for CNN?? Come on… CNN does and says anything on air to make the conservatives and republicans look bad.
So….. the Fed (the world’s favorite banking cartel with only the interests of its private members at heart) will not raise interest rates because it “cares” about financial markets?!? Like it “cared” about main street and CD rates for middle class savers and retirees with QE 1,2,3, etc.? These are a group of people with only their self-interest of any concern. Any “caring” about the financial “markets” by the Fed is only a “caring” in the sense of how to manipulate them (up AND down) and the necessary proper pre-positioning of its cartel members for maximum profits. By manipulating the interest rate up now (and probably through all of 2016), they get the bonus of a strengthening dollar, preserving their fiat currency scheme against all others while at the same time increasing the very liquidity (use) necessary for its perpetuation. Since the Fed has dodged the audit bullet again yesterday in our Congress, it can always purchase (in secret) any problem loans of its members, should a falling market create any solvency problems (like in the sub-prime mortgage disaster).
Since I am not in the business of selling precious metals, my honest opinion is that the Fed will continue to raise rates and not do another QE anytime this year or next. They will most likely also continue their depression of precious metal prices and most probably make a lot of money doing so by pre-positioning their cartel members with inside knowledge of what their future actions/manipulations/timing will make happen in our “markets”. I would think to argue otherwise, is an argument against this cartel’s true financial purpose, its profit/power motive and any history of its past actions and self-interest.
Also, I think we all tend to forget the fact that when the Fed purchases treasuries, any “interest” paid by the US Treasury to the Fed is (for all intents and purposes) kicked back to the treasury. As such, there is no “cost” to the government of this borrowing. The real cost is simply passed on to Americans in the form of the hidden tax of inflation. The Fed wants and needs this inflation for its survival. Obama forgot to mention this Fed/US governmet devil’s alliance last evening, even as he has more than doubled the nation’s debt during 7 years of his administration. The financial pressure on our families and on our standard of living contnues to grow.
Vince Shook, it seems to me that you’re focused too much on localized profits, as if that’s the be all, while ignoring the greater goal of power and control. Consider this:
“Most of the high-profile “trends in the news” tend to support the centralizing of power and authority.
And this is how we arrived at the conclusion that the House of Saud was deemed expendable. It is the necessary supporter of the dollar reserve currency and if it vanishes, the dollar is weakened and globalism strengthened.” …
The Fed’s cartel stock holders (bankers) include foreign and international entities. Not localized at all.
‘Localized’ was a wrong choice of words.
Try it this way:
it seems to me that you’re focused too much on Monetary profits, as if that’s the be all to end all, while ignoring the greater goal of power and control.
Did you read the link?
Speaking of inflation, check out these prices for everyday
staples in Canada.
Not often I agree with someone 100%
Andy is on target 100%
Take a half of glass of water.
Is it half full of water or half empty?
Andy says the Fed caused a over supply.
I say the economy is shrinking which is causing a over supply.
Either way we have an oversupply and a lot of poor people.
Yet the President says the economy is not bad it’s changing!
I guess he’s right – it’s changing alright – changing into @x!#
Andy Hoffman, Jim Willie & Marc Faber have all been about the only ones to really nail this weirdo market, how about the Chinese maybe they have found away to get rid of all those worthless US dollars, sell them to their own public!! hmm I wonder what those people will do when they realise they can only spend them in the US…lol the .gov “approved” currency dealers must be laughing all the way to their .gov approved gold traders. Reverse mercantilism bizzaro dudes…kind of canabilistic…eeeuww.
Red you are talking about the Chinese government who encourages their populace to buy gold not Goldman Sachs or JP Morgan
I beg to differ…. Willie is never right and Faber isn’t too on target
Hoffman has been….spot on…
Andy, Jim, and Marc have been encouraging us to buy gold for the past 5 years. How is it that they “really nail this weirdo market”? Granted, they were also saying buy gold 15 years ago also, but being wrong for 5 years is far to long to say they nailed it. The late comers to the gold market were the ones that were nailed.
OK 1. Faber has stated for 2years’ the market is “due a correction” Not CRASH, the market has corrected.
2. Jim Willie ” the US dollar will go to the moon and dissappear” well it hasn’t disappeared yet but all the nodding heads seem to be buying it in the truck loads…so if your trading on Mark or Jims’ predictions…your in the money….
RE: “being wrong for 5 years is far to long to say they nailed it.”
It depends upon what your definition of ‘long term’ is and what you compare it to.
I.e. an upside-down homeower who ignored their advise and bought a house five years ago might be wishing to have a return of even a little of his money rather than being upside-down and unable to sell without bringing money to the table.
Ask your question again next year, you might have a whole different perspective?
Mr. Hunter, I’m tired, perhaps I phrased the comment wrong? It’s Brewmaster who put forth the 5 year time frame. Not I.
Your comment could just as easily have been mine, only, it was at $250 & $11, if I remember correctly. Maybe even $8 oz. silver. Wow, seems like eons ago.
I saw this and was reminded of my classical education. It also reminded me of the undercurrent of outrage at government in the country. There will be hell to pay.
THE WRATH OF THE AWAKENED SAXON
by Rudyard Kipling
It was not part of their blood,
It came to them very late,
With long arrears to make good,
When the Saxon began to hate.
They were not easily moved,
They were icy — willing to wait
Till every count should be proved,
Ere the Saxon began to hate.
Their voices were even and low.
Their eyes were level and straight.
There was neither sign nor show
When the Saxon began to hate.
It was not preached to the crowd.
It was not taught by the state.
No man spoke it aloud
When the Saxon began to hate.
It was not suddently bred.
It will not swiftly abate.
Through the chilled years ahead,
When Time shall count from the date
That the Saxon began to hate.
Our neighbors to the north are suffering. I just finished reading this article about food prices. I live within a few hours of the Canadian border and am familiar with the fluctuations in currency. (Yes, that stack of Canadian dollars in my dresser drawer has lost value but that is not why I keep them). http://www.zerohedge.com/news/2016-01-13/canadians-panic-food-prices-soar-collapsing-currency
The tweeted photos with the cost of various items, in Canadian dollars, are stunning. Prices for food in the US continue to rise. Is this story a preview of what is going to happen here?
Good info Faith. I handle a lot of coins, and noticed there is a flood of Canadian quarters mixed into our coin exchange market.
Nunavut, Northwest Territories is for the lack of a better term is “at the end of the road.” Fresh food any time is going to be extremely high due to fuel costs and delivery methods/time. This article is very misleading.
I realize that the “Loonie” is devalued, but as long as commodities are in the tank, there will be no prosperity for Canadians.
It seems that Canada lives in a bubble provided by their gub…a bubble that has never popped. Well it is about to and those with “no worries” will find out what the real world is about.
Socialism…a wonderful thing until you run out of other peoples money.
Faith. As my handle suggests, I am from the North ( of the country that is the centre of the universe (-; ) . Aside from higher fruit and veggie prices, most Canadians I have broached the topics for which Andy speaks of are blissfully in denial. We get a full MSM diet of anti-Putin, cheerleading Western capitalism and the all is well narrative 24-7. Even with our central banker floating the idea of NIRP, barely a flinch was noted. TPTB will “muddle through” and man’s technological genius are all we need to keep on partying.
CrazyCanuck: most people I know are in denial or oblivious. Prices down here are not going down. I have been paying $8 a pound for organic hamburger for about a year. One whole organic chicken is now $13 to $15. Lamb shoulder steaks that used to be $4 a few years ago have doubled in price. I saw a roll of aluminum foil for $14 last week. I have also paid $10 for laundry detergent. I don’t live in the far far north but some of the prices I just mentioned are from last week and last year and sure seem a lot higher to me. I am in my 50s so I cannot imagine how people that are in their 70s and 80s must think about these prices!
Hugo Salinas Price hits this one out of the park.
His conclusion is well supported and I entirely agree.
In fact I was already aware of the situation which he now defines by virtue of the missing $1 TLN in Govt. Bonds. The mask has been pulled. We now see the ugly face of the true economic situation that the world will be engulfed by.
The recent accounts from the ex FED Employees ( Greenspan, Bernanke, Fisher) stands as a testament that they were always holding a weak hand, had bluffed the whole world….and went all in. It didn’t work.
Greg. I request Hugo back for a interview. He is so enjoyable to listen to.
Greg, will you be able to get HSP again?
Hugo Salinas Price 🙂
Greg, not sure if this is common knowledge or not but I was talking with a good friend of mine tonight who works for the railroad bnsf. He was talking about how their profits have been dropping drastically over the last few months and several big projects were cancelled due to lack of funding, he also said they just laid off several thousand employees. Mind you, this is the largest railroad company in the United states. He also said 8 smaller railroad companies are filing for bankruptcy. He mentioned the oil prices dropping have been tremendously harmful to them as well. Just figure I’d throw that out there for anyone interested.
“Once the Fed admits it was wrong and there never was a recovery . . . I think that’s the endgame for the gold cartel.”
Before the Fed will ever admit they are or were wrong about the economy they will start a world war to cover their fraud & theft.
Thank you so much Greg for these excellent interviews. They’re amazing! I forward the link to all I know.
Andyb: News you can use; Have you ever used Silver salve on a burn. It is like magic. I keep it in my First Aid kit. My daughter the Doc who lives by her hands got a burn at my house couple of weeks ago. I whipped out the silver and just like my expericnce she could feel, awe inspiring magic of the burn coming back out of her hand. She had never really understood until then after 18 yeas in the med world. Her simple description made me smile. All Watchdoggers need silver salves and an electrlosis kit to make this fantastic medicine. Dont forget it, you need a prescription to get the good tuff,except in Mexico and silver gel sellers online or making your own.
Is the colloidal silver(that looks like water) good for this? Or do you need the salve? Where would one be able to obtain this?
a reputable health food store…
CB, Do you have a link or instructions for this silver salve? Thanks, DB.
CB, OK we went through our med kit and came up with 1% silver sulfadiazine … is this the same salve?? We would like to know how to make our own … and there is always honey for a burn, we have also seen mersa treated with this product and honey, DB.
Nothing to worry about folks. I just watched part of the SOTU address [that’s all I could stomach]. Our fearless leader said the American economy is good, ISIS is under control, other nations around the world respect the USA, blah, blah, blah. So, all is well………yeah right! The POTUS reminds me of Baghdad Bob.
My WD friends, I don’t know where all this is going but it definitely is not good. When it does implode [for whatever reason] I hope and pray for three things.
1. It will not begin during the winter months.
2. It will be a slow progression downwards and not an sudden catastrophe.
3. Some miracle will happen and all of this will work out better than many contends.
IMO if either one of the first two occurs, I can see where most all, if not all, the FEMA camps already in place will be opened. I surely would not want to live in a big city during these times.
I’ve been studying history all my life, particularly war history. Many times I’ve watched videos and/or read of people in destitute during bad times. Humans can get by with very little if need be, but when they cannot find food things go down hill very fast. Riots, steeling, and even murder if need be.
Thank you Greg and Andy Hoffman for an exceptional interview. Andy is at the top of my list of favorites. Try as I may, I like to spread the true news and our current economy status but most folks resort to automatic normalcy bias, don’t want to hear it, and look at me as if I’m from Mars.
Keep up the good work guys.
Absolutely incredible. It’s not that what he says makes so much sense, it’s more the way he says it. Please bring him back soon.
Though the US Dollar is stronger now than it has been in recent memory, the massive monetary easing from the Federal Reserve will eventually come to a head. As Joshua Krause notes in the article below, we are already see signs of inflation here in the United States but nothing of the sort we can expect when the all of those printed US Dollars are released into the open market. It will be a deluge and one that will lead to rapid price increases across the board, especially in essential goods. For evidence of how a currency collapse will play out look no further than our northern neighbors, where Canadians are now paying $32 (CAD) for a bottle of Tide, $15 (CAD) for a box of Frosted Flakes and $12 for a package of bacon. Can you imagine that scenario in the United States?
Analyst Greg Mannarino has warned that when the debt bubble collapses there is a real possibility that millions of people will die because those goods essential to survival will simply be unattainable for the masses. When the cost of food becomes 50% or more of your income, it’s not that difficult to imagine such a scenario happening.
Real Time Currency Collapse In Canada – This Is What It’s Going To Look Like In the USA http://www.shtfplan.com/headline-news/real-time-currency-collapse-in-canada-this-is-what-its-going-to-look-like-in-the-usa_01142016
I don’t believe the controllers will waste chaos in the winter.
Greg OT but over the last 6mths, I have noticed that into the close of these magic rising on no volume(shares sold) market days, wham right on the tape some one dumps massive trades? Is there a guest that could explain this phenom, insiders getting short info? Just saying very weirdoo…
Greg, there are so many other ways that world society is about to collapse other than economics. Please consider having on Tom Horn to discuss some of them. Thanks.
Please read this about silver and the US
I don’t worry about getting into the weeds. I don’t discuss details of this economic farce…because it’s a waste of energy. The system is corrupt. Our government is corrupt. I hear trolls spit out why the banks are good and tax payers should live on less and payout more. The system is good, banks are good, the government is good. Pay more, live on less, be grateful we think we are so smart. I read the narcissism in some of these posts and laugh.
We are grinding to a halt. The world is full of individuals who are well educated and have no common sense. Intellectual Morons……I claim that phrase. 🙂 These are not those, whom you want to feed and support. Let nature thin the herd. We will come out much better, as a nation.
Another excellent interview, Mr. Hunter! Bravo!
Silver used for 5000 years for antibacterial and other uses.
I am not a doctor and am not giving medical advice. I am talking first aid.
Try to get your primary doc to give you a prescription for burns. The described reason that it being perscription stuff is that for third degree burns (skin burned off, they want to scrub it to get any infectious debris out of the skin. All wounds have to be cleaned.
I bought Activz at 24 ppm for backup. Easy to find on google.
I have seen cholodial silver work on nasty spider (thought to be black widow) bites. It was a skin rot bite(absess creating) .
The salve lasts until the printing gets worn off the plastic jar and keeps working. It is the silver. IF I couldnt get it any other way I would use two coins suspended in clean water and a 9 vold battery wired to them for 15 minutes.?????? Survivalblog.com has a lot of info on emergency meds with real doc’s writing for them ocassionally.
My previous post was not meant to offend to you or my fellow readers and supporters of your work. However, my opinions were heart felt and have been painfully concluded after nearly fifteen years of research. I am not a violent person, but I believe in justice and the banksters along with their ilk and minions should be place on a public trial for their plethora of crimes. How many people would hesitate to slap a mosquito who was sucking their blood? How many people would allow leeches to remain attached to their body? Banksters are intentional consumers of the life force of all human labor and they profit from wars that they starter. As such, their planned actions are worse than readily apparent blood suckers attacking ones body. Banksters just steal life force and lives through stealth and covet means and ultimately are more deadly.
What physical deed or “crime” resulted in Jesus’ death? Jesus drove the money changers from the temple in Jerusalem. Jesus exposed and interrupted the crooked operations of the money changers and revealed to people how the money changers were stealing and profiting. The usury activities of the money changers have only become more sophisticated in the past two centuries, but the basic evil in their hearts has remained the same.
You wrote, in part: lastmanstanding 01/08/2016
“Prevention is the first step. Good healthy food, old school, natural herbs and tinctures, build yourself a simple sauna to detox. Clean water. Good choices.
We have a hc related business and the stories that I could share would send all of you into orbit.”
I concur 100%. In fact, I could have written the exact same words verbatim!
Makes me wonder, do you work for (with?) MOJ?