Going to be a Horrible Christmas-Peter Schiff
By Greg Hunter’s USAWatchdog.com
Money manager Peter Schiff says don’t fall for the lies the Fed is telling about the so-called “recovery.” Schiff explains, “Everybody is brainwashed. They believe the Fed propaganda. The Fed has been talking about how great the recovery is and that they are getting ready to raise interest rates. None of that is true. There is no recovery, thanks to the Fed. All there is is a gigantic bubble that has prevented a recovery from taking place. The only reason the Fed is pretending to raise rates is so they can pretend the economy is strong enough to withstand that. The Fed basically can’t do that. They are going to do more quantitative easing (QE). They are going to do QE4, and all that is going to do is weaken the economy further. The economy is in worse shape than prior to the financial crisis (of 2008) thanks to the Fed.”
Schiff also points out, “If you look at the data coming out, all the data is consistent with recession, not expansion. In fact, if the Fed were to actually raise rates, it would be the first time the Fed would be raising rates into a slowing economy. This is not what the Fed normally does. Normally, the Fed would be stimulating with economic numbers this bad. The only numbers holding up are the housing numbers, and they are going to implode at some point. What nobody has wanted to acknowledge, under the surface of these 200,000 a month non-farm payroll numbers, it’s all part time work. It’s temporary work. It’s low paying service sector jobs. We’ve had a collapse in the labor force participation rate. That’s why the unemployment claims are so low. You can’t get fired unless you get hired. We are not hiring a lot of people. People are just leaving the labor force, and that is what’s really going on. People are giving up full-time jobs in favor of part-time jobs, and none of this shows economic strength. It all reflects economic weakness. I think this is going to be a horrible Christmas. Americans are broke and they have no money to shop. Inventories are already bloated, and I think there are going to be huge markdowns. If you really want to get good buys, don’t buy anything until after Christmas. I think there are going to be a lot of layoffs come January and February . . . and a lot of these part- time jobs are going to disappear. You are going to see a big increase in the unemployment rate. How is the Fed going to be able to raise interest rates then? If they couldn’t do it when unemployment was falling, how are they going to be able to do it when it’s rising?”
On gold going way down in price, Schiff says, “That’s not going to happen. There will be deflation. If you want to price things in gold, stock prices are coming way down in terms of gold. Real estate prices are coming way down in gold. Consumer prices are coming way down in gold. Commodity prices are coming way down in gold. They are not coming way down in dollar bills because the government can create as many of those as it wants. . . . I don’t know why a guy like a Harry Dent would have so much confidence in a Federal Reserve Note. He has no confidence at all in the U.S. economy and thinks everything is going to collapse, but somehow, in the middle of all that rubble, somehow the dollar is going to emerge supreme. Why would that be? There is no real precedent for that. Every country that has gotten themselves into the mess were in, only on a smaller scale, there has always been a collapse in the currency. . . . I don’t know why cash would be king.”
Join Greg Hunter as he goes One-on-One with Peter Schiff, CEO and founder of Schiff Gold and Euro Pacific Capital.
(There is much more in the video interview. Please note, there is a slight lip-sync problem with Mr. Schiff’s audio that was unfix-able in post-production.)
All links can be found on USAWatchdog.com:
After the Interview:
Peter Schiff is predicting that when it is realized the Fed cannot and will not raise interest rates, gold and silver will breakout to new highs in price. Schiff has analysis and free information on both SchiffGold.com and EuroPac.com.
Just like Peter’s father … all our fathers crossed the Atlantic years ago with hope in their hearts and the courage to seek freedom and leave tyranny behind … and as a result we their children were born into the freest nation in the history of the world … but when Peter’s father passed away on October 16, 2015 … all of us “just like him” are now political prisoners of a nation that wants our guns, our first amendment rights and all the rest of our freedoms … sadly “we too” are now blinded and shackled to a nation in intensive care … which is no longer the beautiful dream of our forefathers … slowly piece by piece … our nation is cruelly being ripped apart … by a small minority … so “they” can create “just for themselves” what was once available to all of us! … my sincere condolences to the Peter Schiff family on Irwin’s passing … now … once again Irwin travels to “new world” … the one he sought and fought for all his life … a world of freedom “without chains and shackles”!
“They” better be very worried … because now Irwin can pull on the monetary strings from heaven “without government interference” … he can pull the price of gold and silver way up above their 200 day moving averages … and “they” can’t do anything about it … now that … would be rightful justice for a Patriot!
Irwin A. Schiff A man true to his principles. RIP
Yes Gardener1, it is very sad. Our prayers are with Peter and his family.
Many of us say we love liberty and that we would resist tyranny. Talk is easy. But as George Washington warned us, “Government is force”.
At the end of the film “The Wind And The Lion”, Sean Connery’s character asked, “Is there not one thing in your life that is worth losing everything for?” Irwin Schiff answered that question. NOW would be a good time for us to do the same.
Peter said people would finally realize the Fed’s game. I Disagree, especially for Americans. If they ever understand it, they will be the last people in the world to know. That is what is holding the dollar up now and for years already. Most people here will never see it. I saw a Bernie Sanders sticker on a car today and I thought, now I know this country is going to die and people who want to have any shred of freedom are going to have to leave sooner or later. It also reminded me that over half the voters, voted for Obama and did it twice. I mean you have to laugh at hunans that are that stupid.
CB, i saw a Hilary sticker also on a car yesterday. We’re freakin’ doomed… Chip
Is there really anything new under the sun? America will awaken much like the ancient Babylonians, when the Persian General Cyrus diverted a river and came thru the moat gates by stealth. Babylon was taken without a battle and its citizens awoke to this discovery three days later.
Cyrus the Great founded the first world empire (a NWO of sorts ruled by Iran) … http://www.cyrusthegreat.net/ (I had to turn on my mute button as the music interfered with my reading)!
Cyrus was the good guy. He gave Israel back to the Jews and told them to rebuild their temple. He also gave them all of the temple items that King Nebuchadnezzar had taken and prevented Israel’s enemies to stop them from rebuilding.
I am thinking that the “prophetic letter” Daniel gave Cyrus on his entry to Babylon; might of been the real reason this Persian championed the people of God.
Greg … I hear Treasury Secretary Lew is going to change the $10 dollar bill and put a women’s face on it … I was thinking … perhaps it would be Hillary? … wouldn’t it be a wonderful way to get people totally disgusted with fiat paper??
@paul yeah that would surely do it for me buddy lol
Paul, I’d be interested to hear your take on this if you get the time.
Sven … First the “independence” of nations is dissolved (the UN) … followed by the dissolving of the “independence” of the individual (it takes a village) … and soon the goal of making us all “bees” in a NWO hive with one Queen (Hillary) ruling us all will be realized … unless … we all wake -up in time … to re-claim our “independence” and individual rights granted to us by God and written in ink in our Constitution … to reclaim our “independent” Nation (under God with Liberty and Justice for All) before everything dissolves into one “economic zone with no borders” … and our “precious nation” forged in the blood and tears of our forefathers will melt into Mexico and Canada will no longer be an “independent” entity!
I agree Paul. Also I should add If she becomes president The 99.9% male leaders around the world will never take a woman as a real leader. Not to mention the religious aspects of respect for females in leadership role. I know of no female Muslim or Jewish leaders in history. Simply put it is against there religion. We will be seen by most of the world to be weak at best. Thanks for your comments.
JC … the reason Hillary is a shoo in for President is because she has 3 votes out of the 300,000,000 votes locked up … hers, her husband’s and her daughter … we would be silly not to know that Hillary will be President with the crooked Diebold vote counting machines and the counting with chads getting in the way that will nullify the other 299,999,997 votes against her!
Oh OH OH. Paul your killing me.
Greg. I love this site. Watch dogs don’t miss much. I would join this site if you did not charge so much. Can you lower the price to neg zero.
I’ve stated in the past that Hillary is Obviously a dangerous choice for POTUS (she’s sickeningly wicked). However, I too I’m also convinced that the voting process itself is completely rigged. With the massive corruption that extends to every level of government now, it would be ignorant to believe otherwise. The US is functioning just like the Roman Empire did in its latter days, but we’re dissolving at a higher speed. I guess if the Neocons wanted to, they could install Mickey Mouse in the WH and there wouldn’t be a thing that we could do at this point. If an honest voting system were desired, I think that we’d have to go back to manual tabulations done by a neutral party such as beings from outer space.
Please don’t forget that Golda Meir was prime minister of Israel and known as the Iron Lady in Israeli politics years before Margaret Thatcher was known by the same title in Britain.
Both were outstanding leaders on the worlds stage and highly regarded.
While Hilary is an absolute crook and she has many flaws, her gender is not one of them.
Arthur. I Stand corrected. Keep up the good work.
@JC How about Golda Meir?
Former Prime Minister of Israel
Golda Meir was an Israeli teacher, kibbutznik, politician and the fourth Prime Minister of Israel. Meir was elected Prime Minister of Israel on March 17, 1969, after serving as Minister of Labour and Foreign Minister. Wikipedia
Born: May 3, 1898, Kiev, Ukraine
Died: December 8, 1978, Jerusalem
Full name: Golda Meir
Movies: I Was There in Color
Books: My Life, A land of our own, As good as Golda, more
A leader who doesn’t hesitate before he sends his nation into battle is not fit to be a leader.
Fashion is an imposition, a reign on freedom.
One cannot and must not try to erase the past merely because it does not fit the present.
I agree that Hilary Clinton is not fit for office but you are mistaken on the Jewish Leaders…
After Meir, the powers that be in Israel all agreed to never have a woman in charge again, and they never will.
I am sure to get corrected.
Sorry JC but you’re wrong. Margeret Thatcher was British PM & had no trouble with respect from menfolk And as far as Muslins go you may recall as Benazir Bhutto as she was the PM of Pakistan.
Benazir Bhutto became the first female prime minister of Pakistan in 1988. She was killed by a suicide bomber in 2007.
Sorry to mistake Thacher. She is another puppet posing as a leader. No less then a do nothing want to be. Meaning she wants to improve herself to the state of doing nothing.
Well, who the hell was Golda Meir then? Not knocking your blog, just that the facts are the facts, history is history, and we can’t or shouldn’t make statements without at least checking things out. Otherwise, I always enjoy your thoughts. ab
Expected. Art. Good job.
Golda Meir, prime minister of Israel quite a few decades back.
Merkel is a puppet of the global company. She don’t count and she is mad about knowing she don’t count.
Crazy old lady let loose from the attic.
Christine Fernandes Need I say more.
Who is this Girl ? Christine Fernandes Alves is an American Brazilian actress. Born in Chicago, Illinois, to Brazilian parents, Christine moved to Brazil at 4 years old. At 13 she started playing volleyball and became federated. Soon after she began modeling. At 17 she moved back to the United States to attend High School in California. When she turned 18, she moved to Japan and lived in Tokyo for 2 years working as a photographic model.
What world good did she do ?
President of Brazil
March 17, 1969 I was 8 years old.
Yeah you are all correct. And I should add Barack Husain Obomba is the real president of the United States of America.
Golda Meir- Israeli Prime Minister
Sorry I should have read down further. Lots of others spoke up.
I agree. The Obama disease snowballed and a full blown RED wave has evolved. B-B-B_Bernie and the Reds are making no bones about being socialists. Most fueled by the very same rhetoric that Lenin used on the poor Russians of the early 20th century. It is uncanny how it is repeating itself. They seem to be hell bent on collective control all the while never even identifying corruption as the problem with our existing system. No form of government works correctly when riddled with a feloniously corrupted body politic. The Maoist fail to realize that the U.S. Constitution is the perfect governing document for a nation that can get the cancer that IS corruption out of its body politic. And, keep it out.
My apologies. My reply was actually to “coal burner”. It may make more sense that way.
Why not a compromise while also sticking to tradition? Put Michell ‘Mike’ Obama’s portrait on it!
14 minutes and 26 seconds………….Greg, I feel like I was cheated from an excellent interview and guest.
But Peter Schiff speaks more truth, the whole truth, and nothing but the truth in 14 minutes than all of the MSM talking heads do in 14 years.
Did you send a donation this month? Just funning.
No JC, I’m like you, waiting for Greg, to go negative interest 🙂
Schiff is right about gold not going down, but these reasons were not mentioned. For every creditor you have a debtor. They had made promises to each other, and they expect the promises to be kept. If we have deflation, it will be much harder for the debtor to keep the promises, so many debtors will default and the creditor loses. If we have inflation, the debtor will have it much easier keeping the promises, so many creditors will not be able to keep their promises to others by not getting the buying power they expected from their debtor. Gold is insurance against default. If you think some folks will not keep their promises to you, you best own some gold. If you think everyone will keep their promises to you, then there’s no reason to own gold. It’s your choice. You get to decide. Why argue?
Very strong interview. One thing that Mr. Schiff said, stood out to me. That one ounce of gold was worth $20. That is basically the same price you pay for one ounce of silver, today, $20. Also, Mr. Schiff pointed out the obvious, that the US dollar is no longer backed by gold. Jerry and I have been talking about China for some time. Once the SGE pegs the Chinese Yuan to gold, rather than letting it float, all heck is going to break loose. The US is sending a naval vessel to the South China Sea and China was fairly clear that they viewed this as an act of war. I don’t think the Chinese are going to start an overt military war with the US. I think China has been getting ready to announce their gold holdings and peg the Yuan to gold, no matter what the IMF does with regard to the Yuan and SDRs. The day that happens the world is going to go absolutely bonkers. People that actually hold some type of precious metal will be ecstatic while anyone that holds FRNs or stocks is going to watch their wealth be washed away, probably within hours or days. As I have said before, which would you rather have in a worst-case scenario: an ounce of silver that you bought for $20 FRNSs (pre-collapse) or $20 FRNs post-collapse? Silver is so inexpensive now. If you have a lot of capital, of course, gold is a smart buy. I view silver as the poor man’s gold. I will be buying until the bitter end.
I will again try to politely pose a differing point of view.
First of all, the Shanghai Gold Exchange has absolutely nothing to do with the value of the yuan. Were the yuan to be backed by gold, tritium, or grains of wheat, it would be done by the People’s Bank of China.
The supposition that China would back the yuan with gold is made with complete disregard for the realities of economics. If ANY country were to back its currency, directly, with gold or a hard commodity, it would IMMEDIATELY SKYROCKET in value relative to other currencies.
What would that do to that country’s economy? From the day following, they couldn’t export anything to anyone, because no one could afford to buy anything from them, because no one could afford to buy their currency with which to pay them.
One need not look much beyond the Triffin paradox to understand the implications of having the only currency in the world that people want to hold.
To suggest that China would suddenly back the yuan with gold is to imply that they would, immediately, make an exceedingly abrupt about-face from an exporting economy to a HUGE import-only economy.
Yes, the gold has been moving east. Yes, the BRICS alliance has built the infrastructure necessary to support a monetary system independent of New York.
But, the RMB liquidity just simply doesn’t exist to supplant the USD, and it just simply doesn’t make sense to increase world-wide RMB liquidity AFTER backing it with gold. China would simply be passing out their beautiful, shiny hard asset out into the hands of the rest of the world, for no gain whatsoever.
Mark my words: China WILL NOT, independently of a large block of nations (“critical mass,” per Jim Willie), back the yuan with gold.
P.S. (Sorry, I hate writing follow-ups to my comments; had I been thinking clearly, there would be no need for a “P.S.”)
You DID use the verb “peg,” not the verb “back.” But, I don’t really see how pegging would be different from backing; to support a peg, one must alter the price to match the other, which, seems to me to effectively be backing, although not in the sense of true exchange.
I think it possible that the SGE will take control of gold pricing in real terms, by setting prices based exclusively upon an actual, physical exchange of currency for metal. But, the currencies used will still float against one another as they do now, and this pricing by the SGE, although expressed in yuan, will have no relationship to the relative value of the yuan.
@Occasnltrlvr: I am not an economist. I am simply a critical thinker and observer. I don’t know the point of view of Jim Willie. I looked up the Triffen paradox. I read the wiki page which has a precis presenting the main tenets of this idea.
Both you and I seem to agree on a few points. Those include the BRICS alliance and the movement of large amounts of gold to Asia, specifially to the PBOC in China. We also seem to agree that the SGE is moving towards pricing gold in a way that will directly compete with the LBMA and,, depending on the effect of unintended consequences, the COMEX.
Specifically your analysis finds my argument flawed in that if the PBOC backed the Yuan with gold this would, in effect, make the Yuan too expensive relative to other currencies which would mean that other countries could no longer afford Chinese imports. Recently China unpegged the Yuan from the US dollar and has been actively working to decrease the value of the Yuan over the past few months.
However, the PBOC and Zhou Xiaochuan also named the Triffen Dilemma as “a root cause of economic disorder” as discussed in the speech given by Zhou Xiaochuan on March 29, 2009. Since this time China has been vocal about the need for a new world reserve currency. Furthermore, it has been my understanding, perhaps flawed , that China wanted the Yuan to replace the US dollar as the world reserve currency.
The old problem with a dilemma is you can be impaled on the horns of a dilemma or you can go between those horns which always makes a dilemma a challenge.
China has been moving around the world, getting agreements to use their new financial system. It is not something discussed in the US MSM or the US mainstream financial media.
I am not sure I understand your argument about the Yuan and liquidity. This is one of the reasons that China has set up a parallel banking infrastructure using CFETS, the AIIB, and now, CIPS. This began on December 28, 2014 with the creation of CFETS.
I am not certain as to how this epic battle will end. What happens when China, or if China, no longer cares about being an export economy? What if they decide to focus on their domestic economy instead? There are a billion Chinese that want and need all the shiny new things made in the West and this move would make it so that the Chinese people could afford to buy all of those shiny new things. If China were suddenly able to import things from the West why is that a bad thing for China? Some people in the West would be more than glad to import more Western goods to China. The loser in this type of scenario would be people that live in the west as those consumers would no longer be able to afford new shiny things made in China.
The USD as the world reserve currency holder is in trouble. I do not see the USD as sustainable due to QE and the decision of the Federal Reserve to not only keep printing money but to buyback US treasuries. There is going to be a tipping point when the world loses confidence in the USD.
Faith Velocity of currency is everything. Currency moves on debt/ credit. Everything is saturated to the point there is nothing left to generate velocity of currency.
Good point. Recently China unpegged the Yuan from the US dollar
“Recently China unpegged the Yuan from the US dollar… .” This is not true. The PBoC still maintains the soft peg just as they have. A couple of years or so ago, they did widen the daily trading range. Of course, when the PBoC devalued the yuan somewhat aggressively back in August, they had to sell off some $100 billion or so in US Treasurys to support the peg, and there was a massive explosion in Tianjin.
You write: “China has been moving around the world, getting agreements to use their new financial system.” If this is true, you have true insider knowledge. China has been moving around the world, getting agreements to use their CURRENCY. They have set up yuan trading hubs and are setting up currency swap lines around the world. This is my very point about liquidity. Expanding liquidity in the RMB is very reason for setting up the trading hubs and swap lines.
You cite the components of the parallel banking structure that they are now implementing, but these cannot provide the liquidity necessary for the RMB to be viable as a widely-used reserve currency. What they need are for the rest of the world to transact in yuan-denominated bonds, which is, slowly, beginning to happen.
As the RMB begins to take its place alongside other currencies as a reserve currency, the nature of the Chinese economy will change. One cannot happen without the other (the essence of the Triffin dilemma). Making a transition away from a producing economy toward a consuming economy isn’t like flipping a light switch.
You and I are in agreement that the days of “King Dollar” are numbered. But, there is no panacea, from China or elsewhere. Barring implosion of the world’s monetary system, there will not be a sudden change.
You are definitely on target here.
Gold finds its way back into the system through Trade Settlement..not through currency settlement. All one needs to do is look at the CB buying.
Agree that RMB has only a minute amount of international trade for any justification on becoming a reserve currency. China wants to have the RMB front and centre on the international trade/currency market. Deep pools of liquidity are required for that. This is just the beginning of a long 100 year journey.
Sig. The super computer China has created. How much effect do you see it having on the world basket of currencies. Don’t mean to put you on the spot. Kindness JC
Difficult to assess the impact.
Superior technology is a precursor to a stonger economy…because it benefits many industries.
Potential to eliminate competition and become world leaders in multiple areas. This can only be positive for the RMB. To what extent I cannot say…but I do know they are positioning themselves wisely and strategically on many different fronts. I strongly believe in the century of the Dragon..being this century. Those that do not wish to ride with the Dragon will not flourish.
“From the day following, they couldn’t export anything to anyone, because no one could afford to buy anything from them, because no one could afford to buy their currency with which to pay them.”
This is false. Gold is used to balance a country’s deficit between imports and exports. If the amount of imports and exports are in balance, then no gold is necessary (save for, perhaps, any tariffs that may be applied).
If only the yuan is backed by gold, then with whom, perchance, might such balancing of gold take place?
Right on again! If our neocons continue to try to blow the Chinese lantern out, they will not respond militarily, they will respond economically. And Russia will be right there holding their hand.
@Calgirl: I am not an expert on Chinese psychology. I do understand that saving face is important to the Chinese. The US has been pushing China into a corner in a number of ways. Financially, it is the US that pushed the IMF to defer adding the RMB / Yuan to the IMF SDR basket of currencies until next year. It is the US that insisted on sending a Navy vessel to poke around the islands that China is building. (Since the US is constantly screaming about how global warming is going to cause sea levels to rise why not wait until there is a typhoon that washes all the sand away or wait for the sea level to rise and innundate these islands?) There is clear satellite evidence of this island building. How will China save face? It has been clear to those paying attention that Chinese hackers started a cyberwar with the US some time ago. A currency, or financial war, would be similar maneuver. I don’t think China is interested in a direct war with the US which is why I think that if China feels forced into a corner they will react economically. There is a story about Putin as a young boy. He cornered a rat in his families apartment and was surprised when the rat jumped / attacked him. Since then I have heard people attribute this saying to Putin: “be careful when cornering rats.”
First of all İ want to say how sorry i am to hear about the passing of Mr İrwin Schiff (Peters dad) His theory about Gold eventually skyrocketing in price sounds feaseable however İ think alot of people are getting tired of waiting and basically losing faith in that ever occuring
Hay frederick, Speak for yourself, I am just an every day guy with an average income. So when ever you are ready to sell your silver give a call I will take it all.
İm not selling any metals Jim but İ may add to my stack soon
Absolutely one of your very best (in the top 3) guests! Total truth with none of the BS, and not a “former” Goldman Sachs man. I think Peter Schiff should be the President of the U.S. We would return to being a great nation. He would clean house! And Peter, if you happen to read this, I offer my condolences on the death of your father, Irwin. He was a true patriot, a true Libertarian. Thanks for all you do!
just the fact that he isnt a former squid member is enough for me Love Peter and may his dad rest in peace
The first item on President Schiff’s list would be to blow up the IRS. I’m sure everyone has heard that our formally (hopefully) House is trying to impeach the IRS chief….
Just a distraction to show the GOP can actually do something.
IRS is a safe target because they are so disliked. Who will complain?
No political downside here.
No punishment either, after all look at Lois Lerner.
Peter, May your father RIP. Some years ago we were travelling across the southwest on I-10 and listening to Michael Reagan on the radio and Irwin Schiff called in to the show; he was in the throes of his struggle with the irs and right after he put out his website Reagan cut him off … so I called in to the show and asked if they would give me Irwin’s Website as I was not able to hear it and the person at the show said “Oh we can’t do that”. Well at that point I realized that Reagan was a shill … just like Limbaugh when he did a 180 on NAFTA …
Yours in Faith and Liberty, FN, DB.
Another patriot who was railroaded by them was the late great James Traficant
In a nut shell Peter Schiff who I have listened to for many years has a better take on what’s to come than many others.
He’s right, although he said the government, that the Fed will not allow deflation.
Harry Dent is saying that there will be a deflation.
Why Harry is wrong and Peter is right:
The Fed is designed to protect the largest banks.
Want proof – show me a top 5 bank that went out of business due to 1919 or 1929 market crash.
Chase is still here – JP Morgan is still here – they are all still here.
The Fed will just print money to keep the banks alive.
Falling prices after all will cause millions of mortgage holders to default.
We can’t have that as it will cause the banks to default.
So print print and print some more will be the way of the Fed.
When your money system is a fiction why would you worry about a debt limit?
This is where I part company with Peter.
As it’s my belief that the federal debt is just as much a fiction as the money system is.
Sci-Fi horror movies will only scare you if you believe in it.
I have noticed that people with strong religious beliefs are not as frightened by Sci-fi
And those that tend not to have strong religious beliefs are not as frightened by movies of demons or exorcism.
Belief in one thing or another rules our lives.
When will the dollar fail?
That depends on when people wake up and realize that the whole thing is nothing more than a fiction – a made up game controlled by a few.
It only works if you believe in it .
To awake from the dream … all we have to do is click our “silver and gold” heels 3 times … and the papers of a “different color” will all be gone … and so will the Neocon “tin men” without a “heart” and “no brains” !
Seems to me few have done so as we still have a Federal Reserve which takes from the many and gives to the few.
Your not going to wish it away and voting for people that don’t talk about it means it aint going away any day soon.
I agree with you, Vince, central banking isn’t going away. Soon, America’s economy will look like a corporate skeleton unable to stand on it’s own. So why not “flesh out” the skeleton with QE for the people? Free market principles is surely the only way to compete with China. I don’t like central banking but returning to a gold/silver/metal standard doesn’t seem plausible. Central planning and government interference/involvement in all economic transactions isn’t efficient and results in an economy that is not flexible enough to keep up with a changing world. Maybe we should put government in charge of deforestation, it will never happen! Using a central bank to help promote free market principles is a possibility, no?
And the government will print money to make sure no insured depositor will suffer a loss. The main risk for insured depositors is a devalued dollar and hyperinflation, not bail-ins.
I’am surprised to see( in God we trust) on our coins, however I just had a close look at some and it still is on there. We are a nation which established itself or attached itself to a supreme being called God . Our founding fathers many of them at least seen that this came to past , Or was it God who attached himself to us ? perhaps I got it backwards ,however we are as a nation that is joined at the hip with God However our great learning institutions of the land teach evolution ,which is a direct violation of the first commandment ,then the greater part of the Christian community insist that most of the bible is invalid today and that includes the old testament commandments .Is it no wonder why we keep hearing over and over from informed people such as Peter Schiff bad news?
It tells us right in the Bible that Eve was not a product of “evolution” but genetically engineered into being from the cells donated from Adam’s rib … and Adam himself genetically engineered from the most basic chemicals of the Earth by God!
About ten interviews ago, we had a commenter (I think his name was Simon) who said (I paraphrase his words from memory): “Look, people, we humans are all the remarkable product of millions of years of evolution. We have this lovely blue-and-green marble of a planet to live on. The only thing we possess that we can use to make things work well is the scientific method and our use of it to understand the world.” Something like that. No demons. No angels. No supernatural forces that will either bail us out or be malevolent toward us. No blood moons that influence human events. No foreordained shemitahs. No chosen tribes of humanity. Just us. Food for thought.
Have to agree with Peter for president. Right off one of the only straight shooters around. Maybe it’s a confirmation bias thing, I don’t know, but I just can’t see how Peter can be wrong. Peter you are great! you too Greg!
And I feel sorry for myself because my family laughs at me for making my clothes and not buying sweat shop stuff…
I think Libertarianism can go to selfishness easily…but this man’s guts are amazing. God bless his family. I know they feel bad about not being with him when he left this world.
Greg. Thanks for getting P. Schiff on. To answer his question Dent and deflationist all have a company to run and protect from loss. On the flip side so do most of the inflationist. I trust John Williams, and the economist like him.
My question :Are there any economist with no affiliations to protect that believe in deflation without inflation to follow?
Do “armchair” or “Monday-morning” economists count? 🙂
Only on Sunday morning MSM before the NFL games.
A world without inflation ?
Surely you jest.
Without inflation = growth…. the world remains stagnant..Flat.
The only enterprise that grows in such an environment ..is the Govt.
Control of prices, business, markets and employment & welfare.
Communism / Fascism …you name it.
Sound familiar ???
@Silence is Golden: It sounds as though you are describing the US.
Take it as you wish or infer.
I did say the “world”…!!
Sig. I really thought the fed would be dumb enough to act like they raised the rates. .25 of 1 %. Something is broke that can not be fixed.
Not capable of being fixed under normal policy.
Something extraordinary is required. Something out of left field. Something only to be used as a last resort. They will fight till the bitter end to hold onto what they have….only to be dragged kicking and sceaming to the table at the 11th hour.
SIG. I am reminded influence is greater then authority. They have become the captain of a ship with a gun that holds one shot, without influence they will walk the plank one way.
Interesting, many years ago I learned in an American History class that Communism is the far left, Fascism is the far right and they are the same thing.
how in the world will all the guaranteed pensions be paid if deflation occurs as Mr Dent believes. Peter Schiff is the Mozart of financial soundness. Peter, just take care of yourself so we can have and keep you as our guiding light.
Peter is always a class act & Thanks Greg for the rapid fire exchange.
Has anyone noticed that the guests are no longer providing timelines / dates these last few months? Makes one wonder if this is due to it all playing out a heck of a lot longer than anticipated. .
It’s like being pregnant for 11 months instead of nine & still no baby yet. .
Dolly I got to say. That was good. No one talks when there in the eye of a hurricane because the know what is coming.
The Dollar Standard must be kept in place a little longer, how long, is open to question
Resident in Ireland
Greg: If you had a “Top Five” list, Peter Schiff would be on it (at lease for me). I always enjoy hearing from him! Thank you for having him back.
Thank you Greg; Peter Schiff is always good to listen to. His message may seem dire but people would be mistaken to discount his reasoning, I think he’s right on. If I recall there was a timing aspect to Stockman’s remarks regarding cash. Deflation precedes hyper-inflation — cash, paper currency first, then gold.
That’s the order of things, the problem is that if you wait to buy gold or silver you may be buying into a rising market that has a PM inventory problem because the Chinese and Indian populations didn’t wait. Buy PM’s now while their prices are suppressed. Even now inventory issues are popping and there are wait times while orders are filled; but once the path we are on is clear, there will be none available at today’s prices. But that’s just my opinion and I’m not a market analyst.
Personally I hope the small amount I have will be enough once the dust settles and a new currency regime emerges; I have no idea how many years out that will be or how big the war will be between now and then. War has a tendency to allow the victor to start over will a clean sheet.
Russ he was laughed at on CNBC and Bloomberg back in 2006 regarding the housing bubble and the sub prime situation so İ guess he will get the last laugh at some point again
Great interview, Greg. A lot of interesting history about the debt ceiling that I didn’t know. Peter Schiff is great.
A great interview, packed with no-nonsense information. However, I do not think enough people will wake up to what the Fed is doing before it’s too late.
If you want to fully grasp your status in the US, see Anita Whitney’s presentation, “YOU Are A Share Of Stock In The Corporation” (https://www.youtube.com/watch?v=zU5GUYCK-l8). You are already a serf even now. You will also see how things are set up so that everything you own can be taken from you under Agenda 21/2030 over the next 15 years, if you live that long.
If you want to know how we got to where we are as a country, read Melvin Stamper’s book, “Fruit from a Poisonous Tree.” You can download a free pdf version from http://www.naturalgod.com/U1FruitsFromaPoisonousTree.pdf. The book was published in 2008 and addresses many of the factors we are dealing with today.It particularly explains the criminality that so many here have observed and commented upon.
Good interview Greg. Keep ’em comin’. Fear not… Chip
A few years ago, Peter used to be on the business shows a lot; CNBC, Bloomberg, Fox Business. Now, it’s like he doesn’t exist, especially lately, I believe, because the USG doesn’t want the American public to know the story about Irwin , his father, who was a great American Patriot. I used to get a kick out of watching him spar with the clueless, indoctrinated talking heads on CNBC regarding the “recovery” that wasn’t then and still isn’t now. Thanks, Greg for having him on.
Pento is another one who is subjected to the censorship on MSM.
All for good reason….to dumb down the public….& its working.
We need to get a grasp of reality. The Federal Reserve is not going to raise rates or start QE #4 anytime soon. They are no longer the captain of the worlds economic ship. The Chinese are. And when the IMF gives the RMB reserve currency status in November, the bubble that Peter Schiff talked about is going to burst.
Do you want to know the real reason the Pentagon is talking about putting boots on the ground in Syria? Its not about ISIS. This is a last ditch effort to keep the Saudi’s from breaking with the Petrodollar and embracing a plan that has been in the works with China for over forty years.
The last leg of the three legged stool is the petrodollar, and once it is gone so are we. As Faith and others have so aptly stated the Chinese will reveal their gold holdings before the end of the year with the Shanghai Gold Price Fix that will be tied to the Yuan Reserve Currency. Once that happens the dynamics of world trade will completely shift and the Chinese will be in the drivers seat. The Saudi’s know that this is coming, and are positioning themselves with the BRIC Alliance to continue trade with them in the form of gold, not dollars.
I can’t agree on a specific timeline, but I would say if there is something you need to do, you need to do now while you still can. As Peter stated Scrooge maybe be coming for Christmas. Or Thanksgiving.
To back up my last post you need to understand that the UEA signed a currency swap agreement with the PBOC in August of this year.
The table is being set to decouple from the dollar in the middle east. Our currency is only backed with a promise that can longer be kept. What? Do you really think President Obama is stupid enough to draw another red line in the sand with Russia?
The threat to send U.S. troops into Syria is nothing more than a bluff to stall for time that the western banking cabal no longer has. If that were to ever happen, you would be looking at WWIII.
Very well put…No US troops are going to ME…no chance of that!
Jerry, always enjoyed your posts, I believe you are spot on 100% correct.
China is the tiger hiding in the tall grass, and he’s stealthy.
NO Jerry it is most definitely not about our mercenary army known as İSİS
I agree completely that the USD’s indirect backing by oil is coming to an end. This has been evident ever since (or before) the world’s largest energy exporter and the world’s largest energy importer began discussing the huge energy deals which they signed last year. And, hence, the value of the USD relative to other currencies will drop, in fits and starts, as a result of the worldwide lessening of its use. BUT, according to Martin Armstrong, “Trade is less than 10% of capital flows.” Hence, the net effects of losing its indirect backing by oil on the USD will not be as calamitous to its relative value as one might think.
“Reserve currency status” is not in any sense a designation. It is no more nor less than the individual decisions of sovereigns which currency or currencies in which they choose to hold their foreign exchange reserves. Inclusion of the RMB or any currency in the SDR causes that currency to be a reserve currency only to the extent that the SDR is held by sovereigns among their reserves.
The Shanghai Gold Price Fix is just that: the setting of a price. Although stated in yuan, is has no relationship whatsoever to the relative value of the yuan. The value of the yuan, just like any currency, is relative to other currencies. It will change, as the PBoC continues to loosen the peg to the USD, but this has nothing whatsoever to do with the price of gold.
The PBoC will NOT peg the value of the yuan to gold, because their economy would immediately implode, as I elaborated upon in a previous comment.
I disagree. The Shanghai Gold Price Fix will not only put an end to western market manipulation by western banks, it will reestablish the price of gold to its actual market value.
In short we are going back to the gold standard. The countries who have signed currency swap agreements with China over the last three years say so.
I live in the real world. I own two businesses. When it comes to making money, I will always take hard assets over paper promises. The paper pushing powers that be, have convinced you that digits in a computer actually mean something. The reality is, if you can’t lay your hands on it, you don’t own it…..period. Many will be horrified to find out when the system goes down, that the evidence of their digital assets will disappear into cyber space, never to be verified again.
BOO! That’s my Halloween warning.
“The Shanghai Gold Price Fix will … reestablish the price of gold to its actual market value.”
I agree completely, or at least this is a hope I believe we both share.
My point is that it will not change the value of the yuan relative to anything else, and has nothing to do with the status of the yuan as a reserve currency. If gold doubles in price, it will take twice as many units of whatever currency one wishes to use to buy it.
I fail to see any relationship between currency swaps and a return to any form of a gold standard. I cannot speak for others, but I would not back my currency with gold and then swap it for fiat currencies.
I am well-convinced that the point of the currency swaps is to facilitate RMB-denominated bond trading, the expansion of which is necessary for the RMB to meet the conditions for inclusion in the SDR.
I have nothing but disdain for the falsehood that is fiat currency, and I don’t know what I’ve written that might lead one to believe otherwise.
China is hardly the bastion of integrity when it comes to matters of transparency.
BS numbers flow as freely from the Government/State controlled agencies to equal that of the US mis-information.
China is in a world of trouble too…..30 TLN in debt…..supposed 7% gdp growth which if true is not being supported by recent currency devaluations or lowering of interest rates and reductions in capital adequacy (margin lending)….escalating bad debts, insolvent steel manufacturers. Its inflation or die there too.
Holding a truck load of US Treasury paper (as they do) doesnt fill me with any degree of comfort either given the US Govt is bankrupt.
I agree they may be building new roads and bridges…as alternatives pathways….but they cannot sever the arteries of the existing infrasture without imploding upon itself.
Don’t kid yourself, China is in much better shape to weather the economic storm that’s coming than the United States and the EU .
Here’s a classic example of the EU beginning to buckle. Deutsche Bank laying off 15,000.
The Chinese have gold. We have a printing press, and a media that feeds us bovine fecal matter on a daily basis about how great things are.
The top five sellers of U.S. Treasuries.
More on the way.
I am not arguing the point about the demise of the USD. Its the timelines on China ascending to the crown that we differ on. Regardless of the numerous signals that speak volumes for its (USD) imminent departure as a reserve currency.
it’s almost impossible to accurately predict the dollar price in the short run. the market is completely manipulated and it will stay that way until the day the comex fails. my philosophy is to only hold physical gold for long term savings. i know that in five years, it will at a minimum retain it’s value and most likely go up significantly due to a comex failure to deliver.
peter makes the point that it’s politically impossible for the government to default on its obligations. there is bound to be a serious crisis ahead but it’s anybody’s guess how that will affect the currency during the crisis. inflation, deflation, both? who knows? however, when the dust settles, those of us with our savings in physical assets will be the only ones with anything left.
p.s. i live in manhattan. when i look out my window, i see ultra expensive residential towers springing up all over the place. these things are essentially savings accounts for people who don’t trust paper currencies or the markets. the last time there was a building boom like this was the 1920s. how can anyone not see what’s going on?
Irwin A. Schiff – RIP
What a good year you are having with interesting guests!
May I detract a bit from the talking points?
Mr. Shiff is not alone but I will use him as an example today.
It is similar to a mailman delivering mail to an empty house.. To his reasoning since there are walls and windows, porch and a roof there just has to be someone at home..
In turn many folks make the mistake the the government HAS to do anything.
The government will do as it pleases, make choices as it sees fit, and none will force it to do otherwise in its current form.
I consider it the same as a bunch of folks trying to understand the truth when all the information is from liars. The solution is simple, there is no wild event causing all the trouble it is simple crime. Covered by lies..
911 was a simple criminal act that is provably being covered over with lies yet most still have not come to grips with the facts. In my understanding, the arcane movements of high crime finance are far beyond what folks can understand or affect.
Control of the financial sector is being done by ALL the parties at the table so the rules are whatever they need them to be and we all waste precious time and effort claiming there is some actual legal force that will come to reset the errors.
I would enjoy a real focus on the facts…names, dates, crime committed, who is in charge of oversight…etc…
We must learn there are many insiders who claim capitalism as the only way while at the same time refusing to follow any of the rules set forth by capitalism. We can get mired in unraveling the conveniently offered lies or we can move to acting on the facts and make real change.
Of course our travails may increase once those in power find we are no longer willing to allow them to operate unhindered.
All the best to you and yours.
Thank you Robert M, for describing the situation to a “T”. There are crucial facts that are missing from the talking points in Greg Hunter’s interview of Peter Schiff:
(1) that there is one conglomerate that thinks it is above the law, which consists of the Bank for International Settlements and 40% of the net value of the 43,000 companies on the capital markets
(2) that there is a coalition for the rule of law, which consists of the BRICS (Brazil, Russia, India, China & South Africa), the G-77 (134 developing countries) and the US minus the Federal Reserve. This coalition was predicted by a power transition model that came to the World Bank in 2004 from the US Department of Defense https://s3.amazonaws.com/khudes/sentia+model.pdf
(3) that there is a trust fund called the Global Debt Facility which contains US and other countries’ monetary gold reserves, other precious metals, gems, art, and this trust is administered by the 188 Ministers of Finance and Development on the Board of Governors of the World Bank and IMF. https://s3.amazonaws.com/khudes/Inventory+D-Tunnel+2.jpg
The coalition for the rule of law has foreclosed on the conglomerate and its agents. Those that were in power have already lost the ability to operate unhindered. Ignorance of these facts is all that is holding up progress. Fortunately, the internet is helping to erode this ignorance, and those that were in power are currently negotiating an amnesty to allow the Global Currency Reset that was agreed by the Board of Governors of the World Bank and IMF to proceed.
As Peter says: “the Fed is going to do more quantitative easing (QE4) … this will fuel a significant “artificial economic expansion” and as a consequence we will get “real inflation of asset prices” in ever more depreciated dollars … with such upward pressure on the prices of assets, goods and services the Fed “will be able” to raise interest rates … and as for the derivative problem … the Fed will likely simply “order the banks” that for now … interest rate derivatives will not be marked to market!
I like PS and Greg but…..
google ” Fiat currencies replaced with fiat currencies” Ukraine and many countries did it.
The old saw that a fiat currency only lasts x years is true. Guess what its replaced with.
True bitcoin and bitgold ,etc, didn’t exist then.
The sheeple will jump at a new fiat currency, the 3%ers will crow but not much will happen. G/S for safety , don’t look at it as an appreciating asset.
Ammo, some food and water probably first.
Deflation first, for some period of time , G/S will go down, then hyper-inflation
A horrible Christmas? Not with Frank and Bing in the house.
Really really love your name … is there a forth on the horizon?? … you just can’t let such an opportunity pass!
Yes, there’s a fourth. Hoping to pass it along until there’s thirty-third as well.
Thank you TTTiii! I bookmarked that wonderful site!!!
Americans, not all, cannot discuss economic issues outside of main stream media controlled mouth pieces tell them. Bernie Sanders WILL NOT become a president, but alot of people including the hipster crowd think that free stuff along the Euro model should be in place here in the U.S.. But i think before the current POTUS leaves office, a crises will occur. Then throw in the FSA (Free Shit Army) and certain boomers not in touch, it’s ugly.
Finally, an interview that focused on gold/dollar, excellent interview and NO date predictions on when the world will collapse. My deepest condolences Peter, your father was a brilliant and courageous man. Honor him by never being silenced, be his voice!
Oh gold will go up next year …when WW3 “officially” starts
Yeah, that’s right……and where will we spend this gold after America’s incineration?
Neo-Cons like John McCain want to give surface-to-air missiles to the terrorists to shoot down Russian planes … but the problem they face is the same one a US battleship recently encountered … when a single Russian plane (without firing a weapon) flew over the ship and disabled all the ships critical defense electronics … seems to me that with such electronic warfare capabilities … when Russia declared “a no fly zone” over Syria … the US had to back off … as their radio and computer based communications could be jammed by Russia’s electronic warfare capabilities … and could it be that because US communications can be shut down the only course of action for the Neo-cons is to put boots on the ground in Syria? … low and behold (only hours ago) it is confirmed that the US will indeed be doing “direct action on the ground” as a continuation of America’s “advise and assist mission” … where previously America was doing all “advising” via electronic communications and “assisting” via air drops and air strikes … http://www.nbcnews.com/news/us-news/sec-carter-direct-u-s-action-ground-iraq-syria-n452131
Now … if Russia has the capability to badly, if not completely, disrupt electronic communications of the US military … forcing us to put boots on the ground … what does this mean for all our high tech equipment and weapons like smart bombs “that will be totally blind” and GPS that won’t work when communications are jammed and shut down?
Communications “is key” in warfare … and it seems the Russians have the “key” … why else would we have to put boots on the ground? … no way can the US win a war against the Russians if our military communications can be completely disrupted … the crazy Neo-cons should be backing off until we “fix” the problem … rather then running headlong into a ground war … like raving loony tunes without a brain … or sending battle ships to China to be electronically disabled!!!
Seems all the heroin the Neo-cons brought to America from Afghanistan, South America, etc. is having effect … as our engineers and scientists are so whacked out on dope, drugs, GMO’s, fluoride, chlorine, bromine, aluminium, barium, etc., etc. they can’t compete on an intellectual level with the Russian’s or Chinese anymore (checkers is our game now)!
Come on America … lets get our country back on the right road again … we are the laughing stock of the world community … we have lost our morals and don’t know what is right or wrong anymore … we spend billions in taxpayer money to build the “newest bombers” … but don’t have the brains to figure that perhaps … just perhaps the foreign engineers we have to hire to build our weapons for us (because most Americans are drugged) could be placing a “back door kill switch” into our latest military equipment??
@Paul the heroin is the least of our worries İ worry more about the legal psychotropic stuff being pushed by big pharma and the medical profession SSRİs are behind all or nearly all of the mass shootings in the states İMO
I have a strong suspicion that many psychiatrists become psychiatrists because they have a screw loose to begin with … and we blindly trust these guys diagnosing and administrating psychotropic drugs to our children?
Thanks for posting, Frederick and Paul. I think psycotrophic drugs are a Trojan Horse by psychiatrists and who knows who else. The idea that trouble, upset and stress in one’s life and one’s mind is due to chemical imbalance in the brain is IMO a big fat lie. New mental ilnesses are invented all the time, in order to sell a new drug. I once worked with a young girl who had to leave her happy and loving family to work in a big city where she knew no-one. She felt very alone and insecure. She went to a psychiatrist who of course told her she suffered from SAD: Separation Anxiety Disorder, and put her on drugs. What of course she needed was good friends, good colleagues and someone to talk to. Here are a few side-effects, which I think are so horrible that they could not possibly outdo any possible effects.
Big Pharma is making merchandise of men; where the position justifies the Greed of the dispensers. Healthcare has given way to money.
So true, Frederick. And sadly, suicide thoughts , too. Even on Wiki these side effects are mentioned. Read about higher risk for youth.
@Hilde yes İ know from personal experience and the suicidal thoughts can be very real from using this poison İ also agree with Paul questioning the sanity and the integrity of the MDs who perscribe this stuff to people so readily İts got to be for financial gain and its disgraceful behavior İMO
I have a suspicion that that story on the USS Donald Cook may have been disinformation.
If one has technology that one’s potential enemy does not know about, I can see only detriment to revealing that capability outside of genuine, hot war scenario.
I don’t think “Veterans Today” would put out a disinformation report … http://www.veteranstoday.com/2014/11/13/aegis-fail-in-black-sea-ruskies-burn-down-uss-donald-duck/
Consider this … if getting rid of ISIS is really America’s goal in Syria … why not just back off and let the Russian’s do the job for us? … instead we are now sending American boots on the ground … to poke a stick at the Russian bear? … this can only get our young soldiers killed … but I guess that is the Neo-con plan!
Peter Schiff is a fine guest as always. I have been following Greg’s site for over 2 years now and I think viewers should pay very close attention to Warren Pollock’s interviews.
Greg and Peter,
I want you both to have a Merry Christmas! The reality is we only have one vote and that vote is cancelled out by low information or no information voters. I used to let the reality of government waste, abuse and fraud get to me. But I don’t anymore, I control what I can control and I pray that things will get better. I know I’m going to have a great Christmas with my family, because that is all I can control in my little part of this world.
I have learned to love history as an adult. We have done most things before and more than once. Ever read “Guns Germs and STeel”? Belongs on every lifetime reading list. Or you could watch it on TV. One of the best they Docs ever made.
I’ll check it out. Thanks for the recommendation!
Greg, first deflation, then more money printing, then inflation, then still more money printing, then hyperinflation, then can you say “Got War”?
What if nothing we know is the truth. There’s no govt, no law that says we owe taxes to the IRS (a foreign corporation), our churches 501c corp., the weakness of the country being accelerated, Russia being propped up to make a 1 world govt easier to implement, what if they are all under the same umbrella and we are nothing more than pawns in their game for hundreds of years. What if all of this is true? We only have one thing to fall back on…it is love for each other. But if that were to happen, they must keep the power and implement their agendas to get us into a world war so their mission is complete. The only ones who have it right? The animals and nature created to show us beauty, love of a mother to her offspring, and a knowing to stay far away from us. God bless Greg Hunter, Irwin Schiff, and those who stand up in the face of the beast…we owe them for bringing the truth to light.
This interview must have been recorded prior to Monday’s bad New Home Sales numbers for September, nationwide down 11.5%, but down in the Northeast by an unbelievable 61%. I know Peter would have “made hay” with numbers like those.
The productive business cycle ( pP ) got replaced with credit default cycles ( 7q ) as the Federal Reserve became an establishment. Shootin Dice All Day.
Repeat – economic slide downward. No crash. I remember 1979 – 1980. Just about every “expert” was crying crash coming, look out, look out, you better buy gold!
There was no crash. Same thing will happen now the near future – things will gradually get terrible with no sudden “crash”…..
That’s the problem with mushrooms, they’re kept in the dark and fed on BS.
Disagreement is one thing; derogatory remarks – another. I could think up a dozen screen-names for “FC” that are less than flattering. Be nice.
There is a sense of ‘rinse and repeat’ in most all systems; especially economic ones.
Possible. But I don’t believe it will be a horrible Christmas unless there is a FF operation to ruin it all.
Greg … with your background as an investigative reporter … perhaps you can dig something up … I’ve attached a precipitation chart for the State of California below … and what it shows is that except for 2014 -15 the precipitation rate up to 2013 [normally ranged between 12 – 15 inches up to 25 – 35 inches per year] … and “this was sufficient” to make California a vibrant and significant food growing region … supplying both America and the world with bountiful harvests …
Now I’m wondering?? … is Fukushima radiation hitting California so badly that the government had to “purposely drain the open reservoirs” (that hold a 5 year reserve of water) emptying them directly into the ocean (making the farmers use “only well water” instead)? … and is all the “weather modification” we know is going on over California … to prevent “more radioactive rain” from falling on California’s food growing soil??? … 750 RADS inundated California’s food growing region 10 days after the Fucushima meltdown … http://www.globalresearch.ca/articlePictures/fukushima_radiation_nuclear_fallout_map.jpg … what radiation has been falling on California since then??
The question I’m seriously asking myself is … is the recent almost absolute “turn off” of the rainfall in California from 2014 to the present (seen in the precipitation graph above) “by Geo-engineering or other means” … an emergency US Government response? … to something having gone seriously wrong at Fukushima in the last year or so??
Greg … Following is a June 07, 2014 report about what Fukushima radiation was doing … and it was written and published about the same time “all the rain was stopped” in California! … http://www.globalresearch.ca/28-signs-that-the-west-coast-is-being-absolutely-fried-with-nuclear-radiation-from-fukushima/5355280
Supposedly the reason California is dumping trillions of gallons of fresh reservoir water into the ocean totally destroying its agricultural industry and creating a water shortage is to save a little sardine that is not even on the endangered species list?? … there has to be a better reason then that! … http://joeforamerica.com/2015/04/california-dumps-trillion-gallons-fresh-water-ocean-declares-water-shortage/
@Paul something “seriously bad” already happened there 4 years ago İts called a triple meltthru of 3 reactor cores Thats pretty bad
Paul, a quick look at the graph tells me that the low water year is nothing out of the ordinary. I ran a standard bell curve per the data and the 10 ins per yr 2014 was not even 2 std deviations out (1.8 std out to be exact). I grant that the curve is not a ‘classical bell’ but none the less if it was curve fitted, the 10 (I guess) would still be with in 2 maybe 2.5 std … I see nothing unusual per this data set. Per the radiation, I bought my boy an Inspecter geiger counter 3 yrs ago for his birthday. We visit his uncle who lives in Santa Crus about every six months (though a lot more in the summer) and we are yet too see any increase in radiation on the beaches. Note – I keep the Inspector in a plastic baggy to take out the alpha particles … the bad stuff from Cesium is gamma and beta. Last year, we saw one moderate spike on Pacifica beach in a sea weed patch, but nothing else on the beach. I associate that spike with all the nuclear waste that was dumped off San Francisco coast in the forties and fifties. Thus, around San Francisco we are not getting ‘Fried’ yet.
One additional observation … when I am at the beach and it is crowded, I occasionally run in to some one else that all so has a geiger counter. Thus, i can only guess that there are a whole lot of fellow Americans that are monitoring the beaches up and down the entire west coast … I attribute this to all the technology nerds (engineers, science majors and concerned parants) that live close to the ocean and are concerned about their children.
We are a corrupt, self indulgent, perverted society. MILLIONS of jerks….will not last long after the digital access dies. That sounds pretty…politically correct. Let me spin the truth…..it sounded pretty “nice”. 🙂
In reality….you can’t handle, the misery your about to endure. We deserve it. Remember, that cartoon…the mouse flipping the bird at the Hawk, diving down…You, we, ME, are getting everything we deserve. Life is great. Good wins.
China will not be active as a reserve currency this year or the next. It emerges that the Chinese economy is doing poorly.
Be careful of getting caught in headlines and stories. It’s like a house of mirrors. The papers in each country will continue to spin narratives in order to confuse the opposition. This becomes even more blatant over the next two years. If you read what is thought of as fringe or foreign journalism you will find what you want to find about a strong Yuan. If you read the American press you will find what you want to find about a strong dollar.
Chinese officials are not telling the truth about the Chinese economy. Also, there are people in the West who want to talk down the dollar.
Again, I know that some of you will not believe me, but do not bother yourself to leave negative comments. These things are not open to speculation.
Greg asked me to clarify a comment I made about war and about the difficulty for those who are working for themselves after the crash. A war will break out here in the United States, but the internet and television lie about it. It is a very sketchy affair. Not exactly a civil war, but some sort of attempt to seize power at the federal level. The military will appear more and more divided. Much of what will happen from now on will seem more political than economic.
There is coming a time when an individual will find it very difficult and costly to make money working on his own. This is because of the crash of the dollar and because of regulations. You may hear about mandatory licensing of web sites. Doing business will become prohibitively expensive.
It seems that CLS is making more of a prediction, than something relied upon by certain sources. What is meant by war, I get no certainty from CLS.
A major crash would RUIN most of us. I see war as rioting in the streets, inner city fighting (imagine the power of well armed street gangs). I see a crash taking out most of Federal govt. Ukraine did not get $1.2 bil. I realize that could happen anyday, but I am focusing on this as the litmus test that proves whether or not CLS is correct in his/her predictions.
If this happens this would tell me that there is a source that can reference all those predictions exactly. And we wont have to guess at speculation from CLS.
I am not sure if many here remember Jerry called the plane being shot down over Ukraine within 24 hours of it happening.That single event has been the foundation of recent hostile conjecture from the US toward Russia in perpetuity.
Regardless of what you think of his predictions or his posts he solidly made that call based on his “sources”. And I have thought he was wrong on other things, but he did prove this prediction.
His prediction was the spark that kept me coming back to this site. And I only look at about 4 others.
I am only asking that CLS make the same tangible connection. I keep seeing a sort of hall of mirrors.
You are very receptive to CLS. The latest CLS transcript is very engaging. Why are you so receptive to CLS? There is obviously something behind the scenes that you are privy to about CLS and needs to be disclosed to your audience.
Obama vetoed the NDAA last week. I seem to recall that CLS was telling us to look at the bills passage as a precurser to calamity of some sort.
I would ask CLS to comment on this prediction.
In fairness, do you really think they would not push a budget deal through?
The house Republicans are getting ready to vote again on the NDAA
House Republicans want a chance at shooting down Obama’s veto. But their override attempt is unlikely to pass, so it would mostly be a political exercise. The article read.
It is the mark of an educated mind to be able to entertain a thought without accepting it. Aristotle
I appreciate your postings. You can lead a horse to water, but…
I enjoy reading your comments. I respect your input. But, it is up to me – via wisdom / discernment – whether I want to believe it or not.
I hope that you continue to post on this forum. Keep on keeping on with what you believe, and let us all choose. And, IMHO, ignore the naysayers.
God Bless & God Speed.
@CLS: Were you staring at the ceiling again? Or watching paint dry? After your previous comments I will never take anything you say seriously.
Faith, this comment does not lead to anything for me or for you. Please refrain from posting like this in the future.
Just asking for simple decorum. That is all.
It is not in my power to allow or disallow anything. That is solely up to you.
Generally, using the word “Please” connotes a request, not a command. Keep in mind, Greg, that Faith is defaming my character with negligent accusations.
You see, if I were to have said nothing, then my failure to rise to the challenge would have implied that I agreed with the accusation.
But I will say nothing more about this. The whole thing is nauseating. I suggest we leave it alone at this point. I’ve seen where this discussion leads.
Greg, a person can be arrested for soliciting to minors anonymously online.
Decency and law still apply.
Or perhaps you’re right Greg. Perhaps we should assume that I am Jerry and NC Gal is Wd. Or perhaps Jerry is everyone. I mean without proof how would we know?
No one has any character, the writing shows no reputation, no credibility. Perhaps you think these comments are all written by robots.
Why am I here trying to help anyone?
This is what I was referring to about what would come out about China:
Cryptic L. Sister:
The attempts to seize power at the federal level and the division of the military have been going on for some time now, and these activities are obvious (not secret info.). Surely you can’t believe that this group of sophisticated people here don’t already understand this….
I was talking about a war that is coming. You will know it when it comes.
I do not know what you ahve heard about attempts to seize power in the government.
terrible series of events and outcomes where no one wins in regards to PS father, and family.
PD season is only a few weeks away, the time of the year when PD’s shine. wonder which helpless child will have their life taken from them by some out of control PD this particular season? take cover!
Christmas is social/spiritual ritual construction that also requires dismantling packing and storing by its gaurdiens until it’s time returns.
it is not a part of the politically constructed world that has established itself as the dominant culture and existence. it is not owned by this neo political apparatus.
it does not fit with the neo establishment cycle, father Christmas? nuh, shield Christmas? yes.
secret society status.
Greg, Peter Shiff was great, and you did a stellar interview, quick but extremely informative. Thankyou. r.j
Sometimes many can grasp the bigger then the big picture. They are called USA WATCH DOGS.
What are your thoguths about the speed of light?
Light does not move in an absolute sense, therefore it does not have a speed. The only thing absolute is purpose, speed and motion can only be defined within a context.
the fastest movement of energy that ew can see
Umm…it’s really fast?
Kidding, just kidding. It seems to be some kind of boundary to 3-dimensional space, or somesuch. I’ve always felt that spiritual activity is not limited by any such defined velocity. Those are my thoughts.
But, you are living up to your name. Why did you post this question?
Breaking News … Planned Parenthood Dr. caught on undercover video laughing while explaining how she tries to deliver babies “live” so she can kill the “specimens’ outside the womb … mean while Planned Parenthood’s President made an announcement that they will no longer accept payment for the human “specimens” they will continue to provide for research! … http://www.wnd.com/2015/08/planned-parenthood-killing-babies-outside-the-womb/
Thank you Greg for having Peter Schiff on the show. I have been a fan of Peter and his father for a long time.. I first learned of Irwin Schiff in the movie “America Freedom to Fascism” that movie set me on a path of learning about monetary policy and hard money. You have the best guests very informative . I would love to see Dr. Ron Paul on the show.
Thank you again.
What a disconnect between the alternative media and the Establishment Media.
After I listened to Mr. Schiff, I read an article by Peter Morici in the Washington Times. He is a economics and business professor at the University of Maryland. He is also a national columnist.
Without reviewing the whole article, he said basically that happy days are here again and that America will not enter into recession. He ended his piece by stating that this decade might be looked back on as the dawn of the Second American Century.
Peter Schiff is solid. I remember in 2008 when nothing made sense. Ie bailouts in a supposedly
Capitalist system and the word credit crunch came up but somehow by destroying capital with zero interest rates and Zimbabwe style money printing everything would be ok, he and Mish Shedlock were the first guys I heard and read that made any sense.
I think Mike Shedlock aka Mish would make a good guest Greg as well.
Can I just get your view on this:
If the NWO is real and they want a economic crash then why are they doing everything possible to hold the old system together?
Why wait 7 years and counting?
I thinks its more just a Matter of greed as Armstrong says. They are certainly carrying.om as usual here in the Uk.
They are building houses Everywhere.
Why bother if the economy is going to tank?
KEVIN SHIPP – CIA REVELATIONS
Peter Schiff is always interesting to listen to. My new article posted:
Why lower initial jobless claims don’t mean an improving labor market:
What a lower initial claims number does not mean:
-the job market is improving; or
-any one got a job-a lower number of layoffs does not mean a pick up in hiring.
What a lower initial claims might mean:
-fewer people were laid off because some who might have been laid off but were moved to part time instead; or
-after five years of tens of millions of people losing their jobs, many companies don’t have as much room to lay off as many people. there are fewer people left to fire! The lowest labor participation rate in 32 years means there are fewer people in the labor force, so there are fewer people that can be removed from it to apply for unemployment benefits.
The American Buffalo Analogy
If the above didn’t make sense here is an analogy that might make it clearer. In the final years of the systematic extermination of the American buffalo, fewer buffaloes were killed in the later years than the earlier years. This did not mean that more buffalo were being born or that the size of the herd was increasing. There were just fewer buffalo left to kill.
If the economy is so bad why did we just have the most tax revenue ever reported?
I see monstrous amounts of construction all over the country.
Market new high by Dec 31st 2015
I agree though big problems coming down the pipe. Just not sure how soon. (2016?)
Good point Greg….
There are enormous stock gains and the top 20% pay most of the taxes on their income at the highest rates so they have done well and so have tax receipts
I was also puzzled by this, and your reply makes perfect sense. You have my sincere thanks.
The China 13th Plenum is what I was referring to. Many of you are getting lost in the trees. It will help you to look more at the political economy of China.
“Referring to” when you wrote what, exactly? The points of the 13th Plenum align with your points, just how?
I’m not attempting to challenge you; I would just suggest that crypticism ought not be a goal… .
I am very grateful Mr. Schiff has taken up the lifetime cause to expose the lies of the Federal Reserve.
He really is honoring his brave father who recently died in prison for the simple act of exposing the Federal Reserve crimes against America.
Thank you Peter for being here!
Thank you for the auspicious writeup. It if truth be told was once a enjoyment account it.
Glance advanced to far brought agreeable from you!
By the way, how could we be in contact?
In case your readers missed it this is what happened to Peter Schiff’s life just a week ago –
Death of a Patriot
My father Irwin A. Schiff was born Feb. 23rd 1928, the 8th child and only son of Jewish immigrants, who had crossed the Atlantic twenty years earlier in search of freedom. As a result of their hope and courage my father was fortunate to have been born into the freest nation in the history of the world. But when he passed away on Oct. 16th, 2015 at the age of 87, a political prisoner of that same nation, legally blind and shackled to a hospital bed in a guarded room in intensive care, the free nation he was born into had itself died years earlier.