Gold Backwardation-The Meltdown of All Meltdowns-Karen Hudes

HudesBy Greg Hunter’s 

Former World Bank Senior Counsel Karen Hudes says, “It’s pretty clear where we’re headed, and that is something called permanent gold backwardation.  That’s a fancy word for people losing confidence in paper currency.  That means the value of currency in the future is less than today.”  How bad is “permanent gold backwardation”?  Hudes, who spent 20 years at the World Bank, says, “This is not just a bad event.  This is like the meltdown of all meltdowns.  What it means is you cannot finance international trade.”  Hudes goes on to say, “Just think about what that would mean in terms of the jobless rate.  It’s going to make any depression we ever had (the 30’s, 2008) pale in comparison.”  Hudes says even though the credit ratings agencies rate U.S. debt high, they know just the opposite is true.  Hudes contends, “This is actually an underhanded move because they know the U.S. dollar is going to lose its status as an international currency.”   What would that look like to the man on the street?  Hudes predicts, “Prices would change on a daily basis.  They would double.  The number of families that would be employed would be in the minority . . . there would be lawlessness.”  Join Greg Hunter as he goes One-on-One with former World Bank lawyer Karen Hudes.

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  1. William Betts

    This interview with Ms Hudes is a little bit convoluted. The FEd is not going away anytime soon,and as you may know the FED has destroyed the US. It has taken 100 years but the ponzi scheme brought about by the Rothshielde’s has done it. The Bretton Woods will be convened in China soon and a monetary gold standard will be addressed and the US and the EU will be left out of this thing. She speaks of the rule of law working in America. That is a joke. The rule of law went out the window in the financial world with advent of Bill Clinton. State banks could be a savior of the man on the street, but see where this will go with the state houses. North Dakota is an example of what a state bank can do for the people. I would lke to believe what she says, but I don’t see it…. Betts

    • Galaxy 500

      If the new order of things is gold as money, why would the USA be left out. When this blows up, do you.think anyone with an IQ is going to trust fiat currency issued by any nation? And while the people will have it hard, we will still have nukes.

      • Bart Hanson

        Karen Hudes in her video comes across as logical and clear, almost unequivocal. Even mentioning the word Nukes is a veiled threat by you to the rest of the world that we are an enemy. This is a planet mate, not a military base, or is it?

  2. Snorky

    Another good interview, Greg. Thnx.

    One comment: I am suspicious of everyone at the present time (you’re not paranoid if they really are out to get you) and, considering the global situation at the current time, I think it is warranted. Having said that, I have this feeling that this lady has a hidden agenda … trying to deflect attention onto other groups and trying to salvage the banking class standard-of-living after the inevitable collapse (whatever form the collapse takes). Good luck with that, lady …

    • Rob

      It seems to me that Hudes is a NWO information war operative. Notice the narrative that things WON’T get “Mad Max” because we are putting the criminal bankers and government officials on notice. AND – she sais that the general public need to do anything because it’s already happening behind the scenes to re-establish the Rule of Law.

      No. Not true. Wake up people. Hudes is telling you exactly what she knows you want to hear. Her job is to put you back to sleep so you go back to watching football and Dancing with the Stars. There is enough truth in her narrative to make her seem credible but she IS NOT on our side. She is an enemy operative.

      She says that the Vatican has huge gold stockpiles and suggests that somehow this wealth in gold is magically going to make it to the people. Are you kidding?

      The most important thing we need immediately is the reinstate the Glass-Steagall banking act AND impeach Obama. She did not mention anything about this.

  3. W. Blair

    you are getting very valuable people to disperse their knowledge to the public. perhaps it would benefit all concerned if your limited the length and number of your interruptions while they make their points and educate all of us. including yourself.



      • Galaxy 500

        I wanted you to keep her on point and I find your.questions.valuable. This is journalism, not an investment seminar. Just my two cents. Hate to say it but I wish you would have.asked more questions.

  4. Oracle 911


    She gave me a nice back-up, Ms Hudes basically talked about the collapse of current financial system and economy, if the rule of law is not reestablished. Insight:

    BRICS nations knows it, the writing is all over the wall, that is why they are building up a parallel alternative system.

    Worst thing is TPTB don’t let that happen, so they (will) do everything to prevent that, because they know, if it happens they lose everything, so they will blow up entire countries literally (Korea, Syria, Yemen etc.) or economically (EU, Japan, Indonesia etc.).

    So that is why I am talking about a collapse, because sadly the US dollar won’t became a commodity backed currency anytime soon. Sadly Ms Hudes and her allies can’t act fast enough.

    What do you think?

  5. Jerry

    Greg this was a very informative interview. Much better than the last one. I agree with Karen. The October 9th Britton Woods meeting will be very critical on where we go from here. I do not agree with her that the Bonds will still be worth something.
    Greg I just got back from an all day training event for the Exchanges that will be opening up October 1. We were told at the meeting that the total cost to implement Obamacare will be 2.7 Trillion Dollars more than their original estimates, and that insurance premiums would rise between 30%-60% to offset loses. Let that soak in for a minute. Couple that with the debt ceiling that has to be raised another 1.7 Trillion dollars just to keep the government operating, and you’re talking about 4.4 Trillion in new debt, to be added to roughly 17 Trillion in current debt. If you were a foreign investor, why in the world would you keep buying Bonds knowing that you may never see a return on your investment? We are literally spending our way into the stone age. I’m sure I agree with Mrs. Hudes about how this all plays out. Somehow I don’t see the Chinese as being so understanding when it comes time to get their money back. And the Saudis? Well we all know why we’re in the Middle East don’t we?

    • Greg

      Thank you Jerry. I agree this one was better.

    • Galaxy 500

      It is Oct 10. Brenton Woods does World Bank and IMF

  6. Paul T

    I kinda picked up on a lot of the things that she was saying kinda fits in a lot with some of the things that Bix Weir says about there being certain people within the government trying to shut these bankers down. Also she’s saying that there’s a lot more gold than what’s being claimed. I’d like to see you interview her and Bix weir at the same time to see how much their stories fit together.

  7. Ugly

    This currency drop will also destroy large mega-farms. The smaller farms with less debt will have a better chance at providing a food supply to the locals.

    Sounds like we had better get the skills that our American ancestors had in the 1800s and early 1900s, that is pre-1965.

    The only value will be what you own and also what has value, that is PMs, food, debt-free living, seeds, tools, skills, farming-gardening, barter, etc.

    But what I really see is full-scale confiscation. If you have something, they (NWO) will come and get it.

    • Galaxy 500

      I am more concerned about the gangster /unwashed masses robbing me than the gov’t.

    • Galaxy 500

      The gov’t.has already robbed us

  8. art barnes

    Greg, Wow! Her future reality was shocking and I believe its a strong possibility but she also feels the rule of law will prevail and all will be well. Frankly, the rule of law has never been our government’s strong suit, especially when it comes to fiat dollar management, debt ceilings, spending, etc. The arrogance of continued believing in total “American Exceptional-ism” will probably lead to war is a more likely scenario. After that, a new currency will emergency from the ashes. All fiat currencies have a life span and have a tendency to inflate itself to death over time. We are in the last stages of the fiat dollar being of value as a currency. I’m sure it can last a while longer but as deficits grows larger its lifespan grows shorter. Prediction: no accountability, higher deficits, continued inflation, higher interest rates, war.

  9. eppoh

    Blah, blah , blah, Gold is down to 1300 against the US dollar this morning. The only thing melting down is the dollar value of gold.

    • Galaxy 500

      So the massive, unprecedented naked short selling has nothing to do with it? The average cost to produce gold is more than the Comex price. How can that be with the.current level of demand.

      • Tall Tom

        First I am a Gold Bug. I believe that owning Gold is more important than owning US Currency. But with that as a caveat you have a lot to learn.

        Gold Miners actually make money…ESPECIALLY when prices fall below that of Production. Is that a shocker?

        Gold Miners actually are some of those who SHORT THE GOLD MARKET. They hedge.

        Now this may not make sense until you look at it from their perspective. Every unit of Gold which they produce tends to create more supply. Now just think for a bit. Hypothetically when DEMAND is constant and SUPPLY INCREASES that tends to cause a PRICE DECLINE. This just does not apply to the Gold Market but it applies to ALL MARKETS.

        Then here is the kicker. In order for a Gold Miner to obtain FINANCING for Development and Production the BANKERS REQUIRE the Gold Miners to purchase SHORTS on the Futures Market as INSURANCE against Declining Prices. This insurance helps provide security for the loan initiated.

        You have much to learn about the Gold Market if you believe that Miners only make money when the Price of Gold exceeds the cost of production. They make money when the POG DECLINES…more money than when it is rising.

        The Gold Miner’s peak happened AFTER the Blow Out Top in January, 1980, after the price experienced a massive DECLINE. That is a Historical Fact and I have given you the reasons behind it.

    • ncdirtdigger

      Blissful aren’t you?

  10. kl chu


    If you can have Michael Pento and Jason Burack in the future on the show it will be great.

    There is an article you might be interested(having a big laugh)
    Six Reasons to Be Bullish on America

    Thank you

  11. Allen Ols

    You scored, YES she nailed it, f I n a l l y!!! W!

    You cannot eat gold, or cash, stock up on Years of wheat,beans rice sugar, salt, for barter as well.

    Revelations–a loaf of bread will buy a bag of gold.

    Get chickens, rabbits ammo, etc. Now!!!

    Loved the interview, now she thinks like me. Ndaa, martial law coming, ww3

    Hand on heartbeat of events, usawd


    • Galaxy 500

      So what do you plan to trade for that tank full of gas if the guy has bread. Sorry dude, while barter is fine in small transactions, it only works if the person wants/needs what you have. My gas will keep for years, your bread for a week. There will have to be some medium for trade and my guess is silver for small to medium transactions and gold for big ones just like two hundred years ago.

      • Allen Ols

        ahhh u underestimate me. ‘Dude’

        My 2 k gallons are rotated and I have pri-g stabilzer

        My wheat is in 55 gal barrels vacuum packed

        My home ‘bug-out’ is located next to a 15 k game reserve 5 lakes

        My wheat grinders will grind off trojen 6 v batt. 5 rocket mass cookers

        5 large dutch ovens, 6 freezers–full

        Ammoed up

        Barrels, sugar, salt, beans, #10 cans peaches good to 2020

        Oatmeal, and 12 families nearby, likeminded

        Oil grease

        And much much more


        Got gold?


        • mohammad

          Al Ols,
          Medicine, Medicine, Medicine.
          you need to add antibiotics, antiviral meds like tamiflu,Iv fluids,…..etc!
          and some one in your community with medical skills to communicate with.

          • Allen Ols


            I have antibotics from fish store, co-op for horses, and 4 yrs thyroid tabs for me and wife, as well as lots children tyl. Ibuprophen and much much more. Tks

          • Allen Ols

            ….also I have 2 docs. Doc. K. And. Doc. S. Who wrote me 5 – 300 pill scripts to take to 5 diff places, ie wal greens–cvs—kroger—wal-mart–riteaid etc
            My wife er nurse @vanderbuilt many contacts, we follow, shtf don’t say….and much more. Vitamins, masks, duct tape,

            My doctor k. Had me make a detailed list of to-do and to buy. Sawyer water filter, calcium-hypo-clorite 78% for 2 step water purifying, 12 -275 gal tanks hjooked to gutters, pplumed to back of toilets and much much more, a 10×16 room surrounded by foil back foam board sealed foil tape, inside 5 metal barrels wrapped w/ foil w/electronics, shielded for emp” much much more.

          • Rebecca

            There are two books online that can be downloaded for free:

            When There is No Doctor


            Where There is No Dentist

            A copy of each in your notebook might serve one well in the coming crisis.


        • mohammad

          Since you are very well prepared, if god forbid it hits the fan i will move to your neighborhood with my family, and my fees are waived…LOL
          God bless you and your family, will keep praying that somehow this scenario is not going to happen soon, i lost my mother home Syria, and am scared to lose my last home US.

          • Allen Ols

            Tough to hear, we have one daughter, 7 sons less one july 18, I understand loss.

            Yestarday got 22 ton log splitter, and the 600 yamaha enduro is in shop tune up, ninja is done good to go, spare dry mc batteries, I have 32,00 sq ft conrete earthquake home backed in hillside’kkids and I built it starting 12 yrs ago

            IT have 4 of my deceased sons joining us, navy, sherrif, 6 yr grad engineer, one weapons guru and my sons sugar mommy and daddy, ie / his best friends mom and dad, she is coo manfg co, he account. So I have plenty space 4 u, e mail contact, will give u directions after we meet, and chat for compatibility purposes. Doc k. Is 40 miles away, doc s is further, would welcome in house doc, no kids. 🙂

            Rebecca I will order the books, we have old versions, will up grade. Tks

          • Allen Ols

            ..deceased sons friends ooops. Fo-pa

        • Galaxy 500

          Wow, dude, you are very well prepared. In all seriousness, Al, I can tell your are intelligent by your writings. I apologize as I think I struck a nerve and offended you. No insult was intended.
          My point was and still is that it is unlikely anyone who is smart enough to buy gold will not be trading a gold coins for bread. You may get some jewelry from a neighbor who ignored the signs of the coming storm. In my opinion, you’ll be able to by 40 acres of good farm land for 2 troy oz of gold just like you could at the turn of the century. The Fed has cause inflation for nearly a hundred years. In a “real free” economy, periods of inflation are followed by deflation.
          Also you have people to watch your back. It is going to be difficult to survive as a single family. Most of my neighbors are former Marines. Al, again, I apologize.

        • Galaxy 500

          Something you did not mention that I think would help you is a ham radio. You can even hook a computer to it and exchange files or send confidential information. I think Obama is going to stop the internet so a good shortwave radio will be a boon.

          • Allen Ols



            2 friends nearby have the hams sets, I have 2 shielded, SW grundig rados, to listen.


          • Allen Ols


            We are repositioning our divided food stocks to 4 other secret locations, fuel barrels too.

            People w/silver/gold will buy my freshbaked bisquits, ref. Lots soft red wheat,

            Fresh baked bread, ref. Hard white wheat. Fresh eggs, slaughtered chickens. Etc

          • Allen Ols

            Remember the word of God, a loaf of bread/ie-staff of life/–will buy gold, u see I trust the words of Christ, ref. Matt. 24

        • Straif

          Hey A-LoL-s, Listen man.

          Despite the fact that you’re a prepper and proud of it, Galaxy500 was merely trying to make a point.

          And while you were so busy taking yourself too seriously — not to mention tooting your own horn on how amazing your ability to prepare for a ‘possible’ scenario that is in a future that hasn’t yet come to pass — you happened to miss that point entirely.

          On top of that, his comment merely created a debate that offered the potential for some constructive brainstorming.

          And what’s with the “‘Dude'” response that you gave him? He didn’t offer any disrespect towards you at all. He was merely bringing up a point that supported the use of silver and gold as a possible form of liquidity to aid in the act of bartering for other goods.

          Jesus, take off your blinders before you make ridiculous replies that do nothing but put your own foolishness on display and further broadcast to all passerby’s that you have a boatload of supplies ready for the taking.

          Good God man, first rule of prepping is DON’T let everyone know what you’ve got in the bunker.

          • jc Davis

            This site sure beats anything on T.V.

  12. mohammad

    Your instinct as Journalist told you rightfully that this lady has a wealth of information to bring her back again for another interview. Am amazed at the rate of secrecy she has which is not unusual with any bright lawyer of her caliber, it was like pulling teeth to get any thing she does not want to say out of her, great job Greg in keep pressing her to get what you can.
    I had to listen to many interviews of her on youtube just to understand where is she coming from.
    I think she is sincere in her effort fighting corrupted private bankers who are trying to put the world on the course of currency wars (they have been successful so far) and we know what currency wars lead to.
    She does not want to get to WW III. I think she is having the foundation with other sincere officials to try to derail the corruption, however i doubt her optimism.

  13. Jerry

    Greg I hated to take up your blog space with another post, but I found this talk by Ned Goodman to be “Extremely Interesting”. It goes right along with what we are discussing here. I hope you take a look.

  14. NIX


  15. Anne Elliott

    I think Ms. Hudes is admirable for wanting to stave off any economic collapse in our great nation, but if she is hoping to get the support of all the governors – the state of Illinois is going to disappoint. Our governor, Pat Quinn, is a fed bootlicker, and the legislature is as well. In fact, Illinois mirrors the federal stage in almost every point excepting that they can’t print their own money. Illinois is ranked last for state employee pension funding, chases businesses out of their borders with a high tax rate, imposed a 50% tax increase on their citizens a couple of years ago, and sold 30 year bonds in order to complete a $500,000 upgrade to the Illinois State Capitol building by putting copper on the front doors and installing period chandeliers… The excuse that was used for this last heinous act of fiscal malfeasance was that “it was to create jobs”… So, sorry Karen. Change will not be coming from here. Greg, I think you should interview Dan Rutherford – Illinois State Treasurer. He is running for governor, and has been an outspoken critic of this type of fiscal abuse.

  16. Bob

    Not sure what to think about this interview. Karen seems to be in a “Pollyanna” state of mind where everything will just work itself out if we work at it before all hell breaks. When has that ever worked? There are insane factions working behind the scenes to bring in a one world bank. Powerful and evil, who could care less if “we” starve on the streets. You can’t fight what can only be described as smoke. Nothing to grab hold of. No–This will end badly. And I always hated that movie Pollyanna. Mad Max seemed more realistic——–

  17. `David E

    That was an excellent interview. I liked how Karen fleshed it out with her statements of conversations she had with various world financial leaders regarding the seriousness of the condition of the economy.

    Interesting her statement of gold not being leased anymore by banks that used to do this. With Germany only getting a trickle of payment back from America could this mean that gold is drying up and that America is struggling to come up with enough of it to payback? And/or that payment of leased gold by the jewelry manufacturing industry (the largest consumer of gold) is made in FRNs and those are feared to be worth much less at the time of payback? That is is easier for the gold leasing banks to just shut down leasing operations than charge MUCH higher premiums which would be an admission of the fear of mass or hyperinflation in the very near future?

  18. AndyB

    Greg: she seems to have a lot of faith that the Rule of Law will be re-instituted. My question is: by whom? Certainly not any of the political class who criminally and corruptly live of the status quo until, of course, they cannot anymore. All I see is can-kicking until the inevitable occurs. While she certainly has the credentials to expound on global economic problems, she may be a tad naive as to a practical resolution of them.

    • jc Davis

      If I may say=DIDO AndyB. Its like a sheriff walking into a bank full of robbers without a law backing him up.

      • Rebecca

        Please pardon, AndyB and jcDavis, as I add a different thought. It is only thought, perhaps more of a hope.

        If Ms. Hudes has indeed spoken to all these high-ranking officials/politicians — and all are “eyes open” on what can happen if rule of law is not returned to the forefront, then perhaps there is more movement in the “secret chambers” of governments than any of us are aware. We know only what she revealed; we know nothing of what she knows but did not reveal.

        I would not call her “naive”. Naivety would not be fighting as hard as it sounds like she is fighting to stop the worse from happening. The picture she half-painted was grimmer than anything I have ever heard. She might have the expertise to know that if they are not successful, the outcome will be even worse than the picture she painted. That is the only logical conclusion for why she is working so feverishly to stop “bad” from happening.

        Maybe her optimism is not unfounded. She has told some of the people she has talked to. She did not reveal their response or what actions they are taking. When you are fighting a powerful enemy, you don’t weaken your chances of winning by revealing in advance all your battle plans. She told us who she spoken to; she did not tell us what they are doing in response.

        What she does tell us is impressive.
        What is she not revealing that gives her such optimism?
        She is obviously an intelligent, resourceful and good fighter.
        I don’t believe her head is in the clouds.

        That said, why would she doom what she is trying to accomplish by telling everyone its going to fail while in the midst of the battle.
        If you are in a war, you had better believe in the reasons for the war and have optimism that you can win – or else, why go to war? Just give up now.

        Her battlecry to me is: Don’t give up. Fight.
        This is a battle the people of the world cannot afford to lose.
        I prefer her battlecry over: Well, folks, its all lost. Stock up your food, get your ammo, and kiss your family good-bye. Most are gonna die.

        There must always be “hope” that there is a chance “good will yet prevail.”

        There are many — MANY — who have no means to prep, no money to buy gold and silver, no way to move out of harm’s way. Many of the people buying and prepping and arming, sound as if they are not going to help their neighbors. They are going to board up their houses or move to their hideaways, and close their eyes and ears to cries of mankind.

        It sounds as though it will be a crueliest of times.

        I am rooting for Ms. Hudes’s efforts. MAY SHE AND THE MANY SHE SPEAKS TO SUCCEED, for the sake of mankind.

        I will “hope for the best” — for I fear many I love, many, will be among those who suffer cruelly. A letter to my governor will cost me just the price of stamp and the time to write it. I would like to be able to say I tried to help in the good fight and not just gave up and accepted it had to happen, no way to prevent it, and Lord, please help those who did not prep.

        Write the letter. Or send the email.
        It can’t hurt; maybe it will miraculously help.
        I am not in a hurry to see mankind suffer.

        Don’t shun what little light is trying to shine in these dark days.

        • frosty

          Well said.

          Ms. Hudes is a courageous soul who has chosen to fight the dragon rather than meekly submitting to it. Hopefully, her optimism and trust in the rule of law as a potent weapon of choice is based on knowledge of what is taking place within the circles of power where she operates and not based in a naive belief that the rule of law is still governed by the principles of justice.

          From where I stand, outside of the circles of power, I see the rule of law as having become a political instrument of subjugation wielded by a criminal syndicate to enhance and preserve their own welfare at the expense of all others not initiated into their esoteric cult. Without justice, law simply becomes the will of the ruling class implemented through statutes and legal regulations as evidenced by extortion through too-big-to-fail’s, QEs to infinity, bail-ins, rising taxes and growing police state built to enforce our compliance.

          Hopefully the dragon has not anticipated the possibility that the rule of just law might be used as a weapon to fight against it and so disabled that weapon by convincing us in the supremacy of man’s law of statutes and regulations over Gods law of justice.

          Regarding the preppers…Regardless of what the media pretends, most preppers are not completely ignorant, heartless creatures who intend on “moving to their hideaways, and closing their eyes and ears to cries of mankind”. By preparing for the worst, they are actually putting themselves in a position to help their neighbors and themselves through cooperation and, as needed, compassionate acts of charity. Being armed indicates they are well aware that cooperation and charity are voluntary acts, not services or entitlements to be rendered to those who would attempt to kick in their doors and take them by force.

          • Rebecca

            Well said, Frosty.

            I am encouraged by your words.

          • Rebecca

            Yes, we must help our neighbors as much as we are able.

            Thanks for your words, Frosty.

        • Liltigerette1

          A little late in posting a response. However, I, like you, and like Karen Hudes am in no hurry to see mankind suffer. I fear for all–those who have prepped will be targets, and those who have not will be desperate. I pray, should the worst come–that as many as have prepped–help their fellow man who is willing to help them–support them-farm-whatever is needed for community success.

          I personally, feel Ms. Hudes is sincere, and mankind needs more of her kind. I pray she and her group and all who ar working towards actually helping mankind succeed, and our enemies-the supra entity that has been made fat on backs of others they have stomped to ground–that they are rounded up and arrested–all their assets confiscated for the betterment of those they have trampled.

          We ALL must pitch in—INSIST our Reps DO THEIR JOBS and help save our nation—that those who have built their personal ARMIES now invading our Great Nation–America–that these armies HELP TO ARREST THOSE WHO HAVE BROUGHT SUCH WIDE-SPREAD DEVASTATION TO ALL, and not just blindly obey orders given to them to conduct Home Invasions, Disarmament’s and Mass Arrest–like those before them in Germany.

          I fear for my country and her people’s future if all simply give up and allow these crooks and thieves to implement their Bankster/Rockefellers, Rothschilds One World Government Dictatorship–working under the guise of the UN and Tri-Lateral Commission and other sinister networks and front organisations. Let the people do away with these and the FEDS reign over America and implement their own Constitutional Currency as was meant before these gangster banksters “shadow people” used their money to buy our government with a noose around its neck! It’s time the people call for a NEW REPUBLIC that is CONSTITUTIONAL and Truly about FREEDOM and Liberty. Time to get rid of the THUGS!

  19. Brian

    Hi Greg,
    It seems like you are a bit slow to take at face value the nice, well meaning, well informed womans claims that we can shake out the corruption, “work togther”, get the folks in charge to “do their jobs”, and just trust that there are vast gleaming untold tons of gold hiding in the coffers of the power centers of the world just waiting to be shared with us all so as to avert a total collapse of our currency and subsequently our society…and man I don’t blame you.

    Karen’s elicitation of the problem at hand is astute, that is for sure, but her assessment of what it will take to remediate the problem as well as how those in charge would likely respond is a wee bit too overly optimistic for me.

    The bottom line is that it will take a lot of hard hard work to turn this country back into a direction of prosperity, rule of law and liberty, and its going to have to be done at the feet of a very skeptical if not totally pissed off world to boot! Its not going to be just a matter of people being fed up, using bit coins and crying for government to be held into account—things have gone WAY too far for that and the corruption and perversions in our society are too deep seated to simply just be recognized and removed.

    What is happening is that people are awakening to many things they do not like or are not comfortable with. Whether enough of us have the mettle to actually deal with this crap is another question entirely as it will require rather dramatic sacrifices to be made to correct problems that have been DECADES in the making.

    • Galaxy 500

      I could buy into us solving our problems but only if a freak volcanic eruption wiped out Washington DC while all our current and past politicians were there.

  20. jc Davis

    The cyber attacks are on the lose.

    • jc Davis

      Greg I have tried 5 times to post. My at&t service shuts off every time.. I am so impressed with the knowledge of Karen Hudes. I would ask if you ever get her back on just let her ramble on…Her ignorance is more informative then most knowledge around the net. Thank you so much for having her back. I think I will have to hit the donation button. Loved it.

      • Greg

        jc Davis,
        Thank you for supporting the site. I received your donation. It really helps us!!

      • Anne Elliott

        I have AT&T, and have experienced problems with the site too… Not today, but many times in the past the video won’t load – is blank like it wasn’t loaded on USAWD’s website. Makes me have to do a search on YouTube to watch it. Very frustrating… I turn off my phone – completely reboot – and there it is!

        • jc Davis

          Anne Elliott AT&T said it was back emf caused by my home not having a good ground. What a joke! They hooked in a new ground , and made it worse. Then replaced the router. Still having problems. oh well.

  21. Robert Burke

    Here is why there is so much confusion in the markets.

    The Federal Reserve is expected to announce plans to start reducing its stimulus package. The Fed is generally optimistic about the strength of the recovery, while FedEx largely hasn’t been.

    Contending with reduced spending isn’t a problem unique to FedEx. Many retailers said they faced the same situation in corporate reports made earlier this summer. It was a matter cited by nearly all–from massive big-box chains like Wal-Mart and Target to department store chain Macy’s.

  22. John M.

    I don’t buy the fantasy that the “rule of law” will ever prevail in my lifetime, only lawyers subscribe to such idealistic nonsense. The big banks in collusion with their big governments have always screwed everything up beyond recognition(FUBAR), and they will continue to do so until Americans are killing each other for a crumb of bread.
    As an important side note, I am a farmer in the middle of California, and I’ve never seen so many small farms and Main Street businesses (trucking, suppliers, retail) that are barely hanging on to their businesses by a thread. It will take very little, like higher interest rates or higher fuel prices, for great disruptions to happen just in our food supply. The state and federal governments have so many new environmental regulations on agriculture alone that I’m amazed that it’s still producing and functioning. Then look at Obamacare, I can’t see how the American economy will survive just that one behemoth of a plague coming straight from Washington with all else that is going on.
    Back to the big picture,the West has been squandering and stealing gold (America probably has very little of even its own sovereign gold if we were only allowed an audit)to keep the paper dollar game going, but the East is gladly taking this gold and trying to quickly jettison their dollars while also increasing their bartering in trade. I would bet that all these recent paper gold manipulation take-downs have only been tolerated by China because it allows them to buy below market prices for real, physical gold, perhaps as a peace offering and compensation for all that sub-prime mortgage worthless paper crap(US Treasuries too!)that was peddled to China by big American banks.
    It looks like even our stalwart allies, like Germany, are having second thoughts about trusting America in all things, particularly with their gold repatriation; hence even they seem to be making chummier economic and political arrangements with Russia and the East. America is becoming much more isolated, and places like Turkey, Saudi Arabia, South Korea, and others may soon be leaving the American camp, perhaps even G7 nations like Japan and Germany.
    It seems that both reckless monetary policy and blatant war-mongering must go hand-in-hand (Dr. Willie’s point), as the U.S. government and the big banks do not have the imagination or the moral conscience to do what is right by having sound money and an honest respect for human life. This can only lead to nations fighting in a big world war and to Americans at home fighting each other. The only semblance of civil order might be maintained through martial law and/or the distraction of world war. It is quite likely that peace will come to the world through a one-world currency and government, both of which will probably not offer many freedoms and sovereignty to any single nation even if the new currency does have some kind of gold backing. We can hardly expect America to remain a bastion of freedom and prosperity if it is abandoning free-market principles and its own Constitution. Washington has done much to destroy the US dollar and it is not promoting peace in the Middle East.

  23. David

    This is the second interview I’ve watched and frankly Greg, I think she’s out to lunch. She talks as if there is nearly unlimited gold in the world. Again, in the entire history of mankind only 174,100 tons have been mined. That amounts to 3/4 of a Troy ounce for every man, woman and child on planet earth. And that’s if you believe that all of it is safely tucked away somewhere and some of it not at the bottom of the ocean. She talks about returning to “rule of law”, what exactly does that mean? Personally I think she’s a central planner in sheep’s clothing spouting a lot of gibberish about free markets but if you drill down she’s still an advocate of central economic planning. Thanks though for having her on again.

    • John

      I agree, I found her to be disingenuous. Some of her stuff is hard to take, like the vatican is more powerful than the fed. The worst lies are the ones said with some truth interwoven in them.

  24. cm1

    I am trying to train myself not to value ANYTHING in terms of FRNs. Hard to break the habit, but I figure it’ll soon be necessary.

    Watch the emotional reactions on “Antiques Roadshow” for a hint of just how hard this is going to be and how long the ‘dollar’ may drag out it’s demise domestically.

    Quite the valuable franchise that petro-dollar. Little wonder they defend it so hard.

    • Greg

      According to My sources the Saudi Royal family is in deep trouble and may fall in the not-so-distant future.

  25. Rick up north

    Greg I am inclined to agree with Brians comment. The crocodile tears from the talking heads are none but that.The real blood sweat and tears have yet to be spilt.I hope things work out but the odds are……

    • Greg

      Rick up north,
      First rule of investing is to protect yourself from the downside risk. This is why you buy car insurance or carry an umbrella policy. Gold is insurance from the downside risk. Making a profit is only icing on the cake. Thank you for your comment and sharing your wisdom.

      • Shadow of Doubt

        Hi Greg,
        Just a quick note. I have heard you on numerous occasions remark on the never before seen consequences and ramifications that the coming collapse of the fiat dollar will have on one and all.

        In its scope and size I have no doubts that you will be proven correct but according to Robert Chapman of the International Forecaster this has happened before in Europe in the 1400’s. Chapman indicated that this past economic tragedy will closely mirror our own. Interestingly enough Chapman also underscored that the banksters of their time, the Knights Templars, played a key role in this affair.
        Like many I believe that those who ignore history are doomed to repeat it. Perhaps you could find a guest speaker who is a historian that could enlighten us on this event.

        Best Wishes,

        • Greg

          Good info thank you for posting it!

          • Shadow of Doubt

            Sorry Greg,
            By the 1400’s the Knight Templars organization had long been taken from the world’s stage by the king of France. I’ll search my notes and see if I can’t only pin point the date but nail the name of this event. This would be a cake walk if Robert Chapman was still with us.

  26. Jana Murray

    Karen Hudes is obviously still a mouth piece for the World Bank, calling for the Gold Standard. A sovereign fiat currency is the best option. We need to get rid of debt based money and fractional reserve lending. The World Bank has put Ms. Hudes out to pitch their wish for a Gold Standard, especially now that Bill Still has released his new documentary Jekyll Island!

    • Greg

      Jana Murray,
      Remember, Ms. Hudes was fired for exposing corruption. She’s been on her own ever since 2009. It is difficult to speak the truth to power. Thank you for adding your perspective.

  27. john

    Karen tells it how it is. This is one lady from the bank i can listen to
    but whether or not things will turn around is another matter. We all hope things do turn around but things don’t look good. The real answers obviously lay somewhere deep inside government agencies they either have plans to let it fall apart, or they have a new trick up their sleeves. Good interview Greg, although you did jump in a bit too much but all the same you did fire some good questions.

  28. Jerry

    Greg I guess you saw that the Fed decided not to taper QE printing today didn’t you? No surprise there. What choice do they really have?
    Meanwhile investors were running to dump their money into stocks with that news. This is going to end really bad.

    • Greg

      The Fed took the wrong turn long ago, and now all they have is a “Thelma and Louise” ending for us all.

  29. John

    Dear Greg,
    I just finished listening/watching this interview with Karen Hudes. A suggestion: she had some very important things to say and explain and you kept interrupting her throughout the entire interview. It was most annoying and there are many times when I wish you would just let your interviewees finish what they have to say. I’ve listened to/watched every interview on your website for six months now and you do this ALL THE TIME! Please hold your tongue until they are done. You’re not helping. Your viewers are not 8th graders. I stopped watching this one after 25 minutes because I wanted to gag you. Just wait until they are done before interrupting.


    • Mike R

      John I have to agree with you about the interruptions by greg. It’s way too frustrating to watch so I only read the comments and get the general gist as to what might have been said.

  30. George Silver

    You did a good job Greg. You really nailed-down to the average man although Karen Hudes seem to try and wriggle out of the answer.

    My second take on her is that I think she is an extremely knowledgeable women but has some problems.
    She is starting to come across as some kind of fantasist talking about the Jesuits and huge amounts of unknown Gold.

    I hate to say this but even the highest positioned and the most intelligent can sometimes have mental issues. I hope I’m wrong but she has an “edge” that is disconcerting.

  31. Suzanne

    Less than 3 months of that $45 billion/month Fed purchasing of US treasuries is another trillion added to the US debt. Then there’s the $40 billion a month the Fed spends on buying crap from the top banks.

    What people don’t realize is that there is not enough cash printed to cover all the “money” in the system… the Mint quit printing actual dollars after 2009. Just look at the cash in your wallet!

    • Greg

      As famed investor Jim Rogers told us a few months back, “If they keep printing money it’s going to be a disaster. If they stop printing money it’s going to be a disaster. Either way, it’s going to be a disaster.” Thank you for your comment. By the way I checked my wallet, and 2009 was the newest bill I had.

      • Galaxy 500

        They tried to print new $100 twice and had errors twice. New release Oct 8.

  32. Terri

    The Jesuits and the Vatican are the main group responsible for this mess!!!!?? Come on–knock off the crap. Hudes is a Jewish name. This is just more Khazarian disinformation. If you want to solve a problem, you Must identify WHO is responsible for it. I am getting sick and tired of beating around the bush. .Do it by the process of elimination–is it Eskimos running the Fed. No! How about the Irish? No! Keep going–you’ll eventually get there. Please, no more Hudes interviews, OR, Or, keep interviewing her and listen with a critical ear–maybe she’ll slip up and give some clues as to what the Khazarians are really up to.

    • mohammad

      I posted before many links to Jewish Rabbi’s that are god fearing people. There are communities of Jews in Brooklyn do not support Zionism, they say it loud and clear, they also do not raise the flag of Israel in their district. Many of them ask for a peaceful dismantlement of Israel and for Jews to go back to live the way they did for thousand years with their neighbors Muslims and Christians in middle east and other countries.
      Khazarians are totally different than Jews, they claim they are, and those found their way into Zionism but some of Khazarians also claim they are Muslims and found their way into Turkey Iran Saudi Arabia….etc, some claim they are Christians and found their way into the Vatican itself, Khazarians are Gog and Magog with all the ramifications of that word.
      I can elaborate on that if interested but i will leave it there for now.

    • Galaxy 500

      Terri and Mo,
      Sorry, I don’t buy that the Jews are the root of all evil any more than I buy that all Moslems are suicide bombers.

  33. Derrick Michael Reid

    Mr Hunter, Ms Hudes understands the problems,
    but until you have much more general dissatisfaction and
    a president knowing generally how to solve the problems,
    and capable of confronting the court and congress,
    implosion is most certain, and 2016 is perfect timing.,_manufacturing,_and_free_trade.thtml

    • archivesDave

      Derrick Michael Reid:

      If Jonathan Cahn’s (The Harbinger), prediction proves correct, Sept-Oct 2015 will be the ‘perfect timing’…
      Otherwise, a globalized Fed Reserve even before 2016, is a high probability imo.

  34. Doug

    Greg, looks like she took her meds this time. Love your interviews, they are always informative, but I think she’s one proposition short of a full postulate.
    Thanks for your hard work.

  35. Alyce

    Interested interview, a little confusing. Good thing you stop people and have them clarify things, glad you ask questions, Greg. If the US credit is downgraded and rates rise, don’t forget the student loan debt….isn’t that around a trillion? If those rates go up, graduates might as well stay unemployed.

  36. Derrick Michael Reid

    This is the second time Ms Hudes has pointed an accusatory finger as the Jesuits of the Vatican, though I have no real clue why that is her pet villain of the day, when there are many, but leftist pandering is the main cause of our problems, and she did suggest the FED is operating outside of constitutional bounds.

  37. David

    She has knowledge from experience that is different from any other you have interviewed.

    I’m not as optimistic as she is that the countries will get together and work out the corruption and problems, and this all will work out well. That’s the low end of probability on the bell curve.

    If there is a mother lode of gold under the Vatican or at other locations as she seems to think, there almost certainly IS NOT above ground silver like that. And most is used for industrial purposes. Big money has barely begun to buy that [with the exception of India]. A double squeeze on this irreplaceable substance from industry and investors and it will be much harder to get [and proportionally more expensive]. The best inflation or other currency crisis hedge I think.

  38. Ake


    Amazing interviews. Kind of confusing but I see what she is trying to solve before
    before s**t hits the fan. The person she spoke of A. Fekete wrote the the exitinguisher of debt is GOLD.

    A man who has been meeting with people running around the world telling investors how to protect themselves from what he calls “The great leveling” and then moving into a “The great reset” is Jim Sinclair you should get an interview with him. Surprised you have not done so already.

    We need people like Sinclair , Rickards, Paul C Roberts, Andrew Maguire, M Pento to run our country. Not the people in charge right now. Lets not think for a moment they are fools, it is us that are fools if we believe that.

    Time to protect. Get Sinclairs view on what is “Already here ” hiding and waiting to attack.

    Keep up the great work.

  39. Brian


    When you say your audience is above average when it comes to smarts I have to agree. Plenty of your commenters seem to sniff out what many of your interviewees are really all about in rather short order and they do not mince words in their assessments. Of course much of this is due to the fact that you cut the bullshit and ask fair but direct questions and you are not afraid to crack the whip (politely and tactfully of course) and keep the people you are interviewing from wandering too far away and back into their own cozy little world.

  40. Albert Tesla

    Would love to have her talk more about the Vatican. She seems very confident in saying the Vatican is a HUGE player in the grand scheme things.

  41. Albert Tesla

    @ terri

    “The Jesuits and the Vatican are the main group responsible for this mess!!!!?? Come on–knock off the crap. Hudes is a Jewish name. This is just more Khazarian disinformation.”

    Lets pause for a moment and glance at a thing called “history”.

    The conquistadors killed more people then Hitler and Stalin….COMBINED, that’s how far the Vatican was willing to go to secure global dominance, is it really that farfetched to believe that they might possibly be more involved in financial global corruption then we perceive? I don’t think think its as ludicrous as you imagine.

    BUT I will agree with you to a CERTAIN extent she was very vague on the details, she just seemed to throw the claim out there (as she did in her previous interview as well), until I hear HOW the Vatican are exactly connected in all this its all just educated hypotheses.

  42. Rebecca


    I hope you have Ms. Hudes on again soon.
    Exactly what kind currency/economic system is her “group” working on to replace the FRN and Federal Reserve/Central Bank power system?

    She stated the fact that the establisment/operation of the Federal Reserve is against U.S. Constitution’s “rule of law.” She wants the people to write our congressional leaders and demand that the Federal Reserve “be fired.” So far, I can go along with her thinking.

    What I am not understanding is, the Federal Reserve system is replaced by what??? You suggested a gold-backed currency. She did not disagree, but then again, she did not really agree either. Her response (reaction) was ambiguous, at best.

    She paints a clear picture of what she is fighting against.
    What is not painted as clearly is, what is fighting for.
    What is the “replacement” for the central banks?
    State banks, she said. Each state legislation designating gold as legal tender in each state. Okay, I heard that. Sounds good.

    What economic/financial system will replace the central banks around the world? She clearly expounds what she is fighting against; but what do all these high-ranking officials/politicians want to put in place if/when they win the war?

  43. Dwain

    Even if people wake up and restore the rule of law, the fact remains we have a carcass economy. When collapse occurs, there will be no jobs, since the majority are based on debt. Nobody is talking about this. Government, health care and education account for 45 million jobs out of 145 million. This does not even count the subsidized criminal justice system, construction . . . plus insurance, finance, military, entertainment, media, etc. All these sectors are parasitic not productive. This is the major issue and nobody raises it.

    Only 8% of the economy is manufacturing and most of this is dependent on credit.
    Thus, the mathematically certain currency collapse will have a multiplayer effect and most likely destroy all jobs.

    • mohammad

      some sectors still will be needed,
      medical skills, herbal type of medicine knowledge where you do not rely completely on pharmaceutical companies, and by the way in the middle east and especially in Syria we still have a great deal of knowledge of that, the plants that are known to cure certain conditions the same way medicine was practices in the past.
      mechanical skills.

      • Galaxy 500

        Many things will be needed that will not be available. Doctors can ply some of their trade in their homes but a doc only needs so much bread. I have signed up for classes to learn machining. Most people living in the cities will be very hard pressed to get out. Most will try and bring crime and desperation to the near countryside. If you can get out, do so.

  44. Liquid Motion


    Wow another cracker of an interview.
    So much to absorb in the space of 30mins.

    Karen should get the Medal of Honor for her courage in the battle to right the wrongs of USA.

    We must remember that battles are fought, but not always won.
    Her tenacity in seeking justice by way of “Rule of Law” is really something to behold. She makes it plainly obvious that time is of the essence now and she is absolutely correct on this count. However it is my humble opinion that it is well past the 11th hour, we are now at 5 mins to midnight and the time for making good is well beyond our grasp.

    Some critical points raised by Karen warrant close attention:
    – Denounce the Fed
    – State capture
    – The number of people employed would be in the minority
    – Alternate currency
    – State run Banks
    – Avoid currency crisis/wars

    All good intentions/salient points and worthy of a genuine statesman who would represent the people in the truest sense.

    Hush now …..gather round….are we all quiet…..Good…lets get started……

    Black Swan event: Dumping of UST and USD by the international holders.
    Currency inflation approximate to hyper inflating when the velocity kicks in. China is a good example of offloading USD for hard assets. Expect to see an acceleration of this across other Asian nations and even some parts of Europe.

    What will trigger it….The FED….which just yesterday broadcast that it is trapped like a caged animal. It will continue to print and debase. It just didn’t mention that it plans to increase the quantum and frequency …so it becomes unlimited now. That’s all that was required to enforce the rule of law….economic law that is….you cannot unwind QE…unless you want destruction and deflation.

    The USA will get its inflation …in very short time…..and its gonna be a real SOB.

    Bretton Woods October 2013 will go down in the history books as the date that marked the beginning of the end of the world domination of the USD.

    Karen’s agenda reminds me of the Carol King song…”Its Too Late”.

    Oh & btw…the talk about Credit Rating Agencies….is in my opinion overdone. “Credit” rating agencies….are supposed to serve a purpose. They exist to determine amongst others, the capacity or ability of a debtor to pay back its debts, on time, with interest and without default. In a world that is now at EXTREME levels of debt, ratings agencies are superfluous. If they did their job all G7 nations would have a credit rating of “D”. You can (as I have done) summarily discount that part of the dialogue as having any importance or relevance to the matter of making good in the USA. Like the FED, CRA’s are a charade with too much influence and power working in tandem to achieve the same end game.

  45. Frank Funk

    Greg – this interview is good for a laugh. This lady is a whack job, Greg. Maybe you have an ulterior motive – to inform us through witnessing this woman’s insanity. Rule of law? What rule of law?

    Next time you should title your article “Look what the cat dragged in,” or “Mrs. Gibberish is back.”

    • Greg

      Frank Funk,

      You are posting negative untrue criticism with a fake name Mr. “Funk.” You have a phony email too. Wow! you are so brave. This discredits you and your comment. Man-up and own it,loser.


    • Galaxy 500

      Dude go spread your funky Shiite elsewhere

  46. mohammad

    If you can bring on Chris Whalen, he has been very accurate all along when it comes to banks, his perspective will definitely add to the site’s wealth of info.

  47. Derrick Michael Reid

    Ms Hudes’ Backwardation and Melt down is reflecting a return to equilibrium. She is no dummy, and can see the writing on the wall.

    Gold is a Store of Value (SoV). The FRN is a medium of exchange (MoE). SoV and MoE can not be separated. Close loop systems are in place, as the earth is finite, though time delays and manipulations can skew the relationship at various points in time. Gold (SoV) is rising respecting the FRN$ (MoE), that is, they can not be separated, indefinitely.

    Banksters and Greedsters (eg GS and JPM) will seek to selfishly profit by manipulating markets, but like all manipulations between any SoV and any MoE, fair market value, that is, an equilibrium between a SoV and a MoE will be had in time, during the endless struggles of mankind.

    QE and ZIRP are causing a collapse of the fractional reserve fiat money complex. Gold and Silver price manipulations are causing a collapse of the fractional bullion reserve complex. Infinite printing of a con fiat paper currency borrowed at no risk and bullion price suppression catches up eventually to a fair market value equilibrium between the MoE and the SoV, and in the current case, between totalitarian FRNs and Constitutional Gold and Silver money, a reasonable FVM is placed at about $45,000/oz Gold and $6000/oz Silver, on its way to infinitely, as the FRN collapses, in the prospective greatest transfer of wealth the planet has ever witness.

  48. Jeff S

    Hi Greg,
    I love your interviews, but Ms. Hudes is pretty rambling and incoherent. She may Know Things, but she can’t seem to present information in an organized manner that would actually provide us with an understanding. As to her claim that people in power behind the scenes are trying to fix things so we don’t collapse, I am glad she is hopeful, but I sure don’t see it. All I see is the guys at the top continuing their program of Getting While the Getting is Good.

    Anyway, if you really want someone who can present a detailed, “granular” picture of what life for the average Joe is going to be like when commerce collapses because the $ collapses, please interview Dmitry Orlov, author of “Reinventing Collapse” and the “Five Stages of Collapse,” and who runs the blog, James Howard Kunstler would also be very good.

    Thanks for all you do, trying to help people wake up and prepare.

    • Allen Ols

      I read a review of the book tf metals great stuff

  49. TONY


    Very frustrating interview, it seems like you and Ms Hudes are not quite on the same page. She wants to bring the rule of law back into the picture and I believe this is very very necessary but,
    1. The banksters are not going to let this happen so easily, they will fight tooth and nail all the way
    2. The rule of law will not solve the money policy that is basically a fractional reserve system

    I agree the Fed has to go! Every dollar they lend to the “US citizen” is basically not repayable because It comes with interest. It can and should be replaced with a national bank that not only can issue the currency backed by gold, but can also serve as the depository for the individual’s money with interest. Simple, clean and transparent. Maybe I am being too utopian here!
    Anyway, keep up the great work Greg, i appreciate greatly what you are doing on this site.

  50. JCN

    Hi Greg,

    Great interview, as usual. I appreciate that you try to get the interviewees to make suggestions on how the “little guy on the street” can prepare and be more informed.
    I was wondering what you think may happen to our mortgages in the midst of a financial collapse. Many, many people have just refinanced. Much to my dismay, my mortgage was just sold to PNC. What if PNC, for example, becomes insolvent (or maybe already is) and there is no more Fed money to buy up (or bail out) any banks and their bad or good mortgages? Of course, my mortgage is a contractual agreement with a fixed interest rate but could something change with those contractual agreements in say, “a time of national emergency”? Thanks for all you do!!

    • Greg

      Forget about getting a free house. When it all blows up, the banks will foreclose to get any assets they can get their hands on. The best position is to have everything paid for. If you have a mortgage do not miss a payment or be late. Who knows what can happen because this has never happened in recorded history.

      • mohammad

        It is scary just thinking if banks fail (and they will) how will they get 70% (if not more) of families out of their defaulted houses when they foreclose, will they use force, will they use private companies similar to private contractors like in Iraq?
        what would happen to rentals?
        i wish really if some one in the know how can elaborate on those real life scenarios.

        • Rebecca

          Hi, Greg

          I agree with Mohammad. It would be nice if someone with expertise and experience of home mortgages in times of financial crisis would help to, at least, give some scenarios of what could potentially happen.

          I understand that we have never walked this path before, so finding someone who has “experienced” this, will be impossible to do. But perhaps, a economic historian could shed some light on what could happen, in relation to what has happened on a smaller scale in the past.

          Thank you.

          • Ugly


            I agree with Mohammad and Rebecca. It would be interesting to hear from an expert about what would happen to folks that ‘own’ their homes during a time of financial collapse. Does that ‘title’ really mean anything if martial law occurs.

            I have a bank cd that expires in 2 months. I could easily pay off my $17,000 mortgage and supposedly own my home. But do I really?

            One part of me says pay it off. I really don’t know. But because I am so close now, I’ll probably pay it off.

            I think debt free is still the best way to go for now.

      • lastmanstanding

        The banks won’t get diddly…No one will be paying.

        They destroyed the economy along with the corps and govt.

        It will be a bloodbath.

        “Live free or die” and “don’t go down without one helluva fight”

  51. John

    There are some Greg, who are totally out of touch who do not realise how the Jesuits fit into this puzzle, so i suggest they go do some reading and find out who the Rothchild bankers did business with.
    The Vatican bank is far richer, and more powerful than people think so Karen does know what she is talking about.

  52. Rodger

    She is an idealist. Granted that the constitution has given us the tools to fight this collapse, the time to fight was a long time ago. I wonder if she is familiar with the petroyuan.

  53. Tim

    Excellent interview Greg. You are the Man. Thank you!

  54. Mickey Smith

    Greg, what M. Armstrong has said does not jive with what every one else is saying, it is as confusing as heck! Brother we are in for the worse of times & most don’t even know it & the ones who do are scared to death of making any wrong calls for the future! I wish I had been born in the early 1800’s where your work what was let you survive & prosper, today it is how good of a damn crook you are! Bankers 10, the common man 0!
    Great interview, wish she would let the cat out of the bag so the MSM, all in government knew their butts were now exposed to the world & we will take this no more!

  55. Donna


    What I do not understand is if the dollar is going to collapse, then why is there so much building going on in my city? There is no shortage of new businesses coming in here. Right now there is a huge bank being built and small one already built. My town has at least 40 banks! Also, clothing companies, restaurants, grocery stores are all being built right now. Others have just finished within the last few months. So, why would all these huge companies build and have the chance to lose what they built? The population here is 67,000 and it is a college town in AR. Please explain…its confusing to me because I am trying to prepare for what I have read is coming, but when I see new businesses being built I fell stupid that I am stocking up on groceries, medicines, hygiene products, etc…..

    • Greg

      I am sure some people with Noah felt stupid too–until it started raining. By then, it was too late. Everything was going great in 2008, right up until Lehman Brothers collapsed. Please make no mistake about the situation we are in. This kind of money printing (on a global scale) has NEVER HAPPENED before in recorded history. When it ends it will end fast and ugly.

      • Allen Ols

        Yes, u r correct, and noah was on boat for 1.2 years and God said stock up on food noah for animals too, btw what kind of toilet, hygien facilities did mrs noah have prepped

    • mohammad

      there is a very good explanation for what you are seeing, it makes a lot of sense.
      If you want to borrow money…. what is the first thing the bank will ask you?
      In case you default on your loan they seize your collateral and bid it in the market and get what they can get.
      if the banks/corporates are about to default and they want to squeeze the last few drops from the well that is getting dry already what would they do?
      REAL ESTATE!!!!
      They will build, crank up their books with false high value of real estate to BORROW more on it.
      The fastest way to increase GDP fraudulently is REAL ESTATE.
      remember that it was real estate that busted Lehman Brothers (sub prime mortgages)
      If you see a lot of building that goes against the logic then know for sure the well is dry and the banks are squeezing last drops of it by borrowing more on construction they will let go later on.

  56. Jerry

    I was raised by grandparents who made it through the Dust Bowl Depression in Oklahoma. My grandmother told me that in the roaring twenties that led up to the “Crash” people were getting rich in the stock market and businesses were booming, much like today. Do not be deceived by what you are seeing. Money can dry up just as quickly as it is spread around. Anything… and I mean anything that is not paid for will be gone. Banks always go where the money is. If you can’t pay off what you owe, they will take your property from you and sell it to others who have cash, or in our case Precious Metals. They’ve done it before, and they’ll do it again.

    Families grouped together during the Depression to survive. In many cases living in the same house. The elderly watched the young children while the young parents went out to find work. There was no “me” generation. Like Greg says, those that prepare will be in a better position to make it , than those that don’t. My grandfather had his farm paid for, and grew his own food, so the impact was very minimal to him. Others not so much. Most of his neighbors lost their homes and farms and wound up going to California looking for work. They key point is self reliance. Start with storing food if you have done nothing else. Freeze dried works the best for long term storage. You can get a years supply for roughly $2000. Some people will spend that on a cruise easily, so it boils down to priorities. If you think the government will help you, I have only one word. Katrina.
    Good luck. I hope this helps.

    • Donna

      Greg, Mohammad and Jerry,

      Thank you for your explanations, comments and suggestions. It makes more sense to me now. Our town is going crazy on building of businesses. I try to tell my family and friends to start buying extra food, medicines, hygiene products, water….etc. They look at me like I am crazy. I was even told by a family member that they were tired of hearing about it. It breaks my heart that the younger generation and people my age are not watching the news or paying attention to politics. They will be hit the hardest when SHTF I am afraid. I am just going to keep doing what I have been. I just hope it is enough. Thanks again!!

    • Galaxy 500

      It is not talked about much but the depression was caused by a housing bubble. There were no 30 yr loans then. 3 to 5 yrs and then you did a rollover. When the credit market shrank, many lost their homes ad farms.

  57. Kerry

    I truly hope she is right, that the rule of law will prevail, but I have this feeling…I think the people who have access to the lifeboats are going to tell everyone else not to worry-we have it under control-even though you see the water level rising, this ship just can’t sink…meanwhile, the lifeboats are filling up quickly…

  58. Mark Robin

    Ok… let me see if I can help you guys out.

    1. An emotional crowd is almost always wrong.
    2. This board represents an emotional crowd.
    3. Therefore, you (this crowd) will most likely all be wrong on the timing of such an event.
    4. The predominant Keynesian experiment will fail. Austrian School of Economics will prevail.
    5. Therefore, all booms lead to busts and this one will be no different.

    Conclusion: Will it happen today, tomorrow, next year? No. It’s been “happening” for over 100 years since the inception of the Federal Reserve system. So stop panicking as this will get you nowhere. The system has been gradually failing and every effort will be made to perpetuate the system until it falls apart. When you ask? When gold falls into permanent backwardation.

    What to do? Get out of debt. Buy gold as savings and insurance… Watch the GOFO rates as they will show you the severity of the situation. Until the currency system is changed, get a life and enjoy every minute of it.

    • Greg

      Mark Robin,
      there are people regularly commenting on this site that are much smarter than you–much.

      • Glen

        Greg, Listening to your interview prompted me to listen to other interviews with Mrs Hudes. Ok, I like the lady. And, I am sorry she got fired from her job for trying to do the right thing. But, she is truly out there(mental). I agree that there are many problems with our economy and our currency and corruption and all but when you listen to how she is dealing with she is not very convincing. At least, not to me. All I hear is a nice old lady who is maybe a little dizzy and possibly thinking irrationally but feeling some kind of false ego or self rightiousness that she fees will somehow right a wrong. She is dillusional. Just my opinion.

        • Greg

          you are talking about a woman who held a top position in the World Bank for 20 years. he was Senior Legal Counsel when she was let go. You and I may not understand what she is saying but this woman is no nut. Sorry you think she is delusional.

  59. john

    I admire Karen Hudes for her positive attitude in warding off an economic collapse of the USD
    However what does she suggest we do? And what is the rule of law that she keeps referring to?
    Are we supposed to trust the state Governors to get us out of this economic quagmire.

  60. matslinger

    So, we’re supposed to believe an obviously Jewish woman who worked
    for the Jewish controled world bank,(bit the hand that fed her and
    still lives?) and that Obama is actually ” a great guy, who’s trying to do the right thing?
    I’ve always wondered where your site gets it’s financing from…
    now I know.

    • Greg

      I have Google ads and I have no control over them. That’s it. As far as Ms. Hudes is concerned, Hudes worked in a top position for the World Bank for 20 years. I put as many qualified voices on as possible no matter what religion they are. By the way, what are your credentials? Please respond using a real verifiable full name. “matslinger” doesn’t do much for your mud slinging credibility.

  61. Terri

    I just listened to this interview again today and it got my blood boiling even more than the first time. I imagine that this interview was re-posted today because the Vatican just announced that they were closing all embassy accounts in an effort to clean up money laundering.
    LISTEN everyone — she points her finger at the Vatican bank BUT what she doesn’t say is that the Vatican bank is run by the Rothschild’s. Greg, you pointed out that the Vatican bank engages in money laundering — yes, it does BUT it is under the control of the Khazarians. The Vatican was taken over by the Khazarians, just like all the WASP banks (aka J P Morgan, etc). The Vatican has been under the onslaught of the Khazarians from the beginning. (Read The
    Plot Against The Church by Maurice Pinay) I’m not defending the Vatican or making excuses for the crimes it committed in the past, but right now it is controlled by the same group that controls the Fed and the international banks. Hudes is a Khazarians agent put out there to take the heat off the Khazarians by pointing her finger at the Vatican. Also, beware of anyone pointing their finger at London as they are also controlled by the Khazars. The people are now aware of What is going on in international banking so the Khazars can’t suppress that info— they have to change their strategy of information suppression to one of defllecting blame by using people Like Hudes. As far as the Jesuits go, they have been a Khazarians institution from the get go.

    Remember they have the reputation as the Great Deceivers AND they take the oath of KOL NIDRE (look it up). About the Vatican — read Malachi Martin’s books.

  62. robert heartland

    Listen Greg Please check out this woman’s facts and contacts because I just don’t find her story creditable. I’ve been in the military and people in the military are supposed to take orders,not give them and not say anything that could come back on them and ruin their career in short order. I just don’t believe her story,sorry I also don’t believe in the tooth fairy. It is our congressmen and senators sadly that have to speak up and be counted as far as reform and backing away from this cliff and right now it looks as if they are about to jump off. To this I say, have a nice trip ! Hopefully WE THE PEOPLE will survive it.

  63. Jay

    Greg… backwardation is taking place once again. See comments of William Kaye on King World News.

    • Greg

      Thank you Jay for the heads up!!

  64. Republicae

    “This is not just a bad event. This is like the meltdown of all meltdowns. What it means is you cannot finance international trade.” ~Hudes

    Thus, once the global supply chain breaks, the world as we know it is suddenly transformed into one reminiscent of the Dark Ages. While gold and silver have a place in a world just prior to such a break-down, perhaps during a hyper-inflationary event, the real value will be in food, medicines, weapons/ammo, tradable goods and useful everyday skills.

    • Greg

      Some of everything would be the best hedge. Point well made and well taken. Thank you for making it here.

  65. Kawika

    Greg, thank you very much for your worthwhile website. Regarding the
    recent interviews with Karen Hudes, in both instances, in commenting on
    the subject of corruption vis-a-vis the Fed, she also implicates, by
    reference, the Vatican and the Jesuits, without any elaboration or
    explanation of her own accord or by you asking her to explain or delve
    further into what I thought was a startling revelation/allegation that
    certainly merits further discussion.
    I look forward to Ms. Hudes’ return as your guest interviewee whereby
    you hopefully will ask her to give us more details concerning her
    reference to the Jesuits and the Vatican.

  66. Joe

    Hi Greg,
    I absolutely agree with Kawika here; this lady seems to know a lot more about what’s going on than your mean stream gold bug. Some sources say that the Vatican holds some 60,000 tons of gold, acquired through the centuries. That would be absolutely stunning. Why is it, that for the first time EVER, a Jesuit was elected pope (the head of the Jesuits is commonly referred to as the “black pope”)? Ms. Hudes seemed to imply that there’s actually more gold out there than the official 160,000-170,000 tons. How much more? This sort of information is absolutely crucial. I’m afraid you missed a great opportunity to get into all this; have her on again SOON and let her do the talking (no offense!).
    Thanks for the good work!

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