Gold Only Safe Asset Left – David Stockman

By Greg Hunter’s USAWatchdog.com 

Record high stock and bond prices are flashing danger signs to former Reagan White House Budget Director David Stockman. Stockman contends, “I don’t think we are going to have a liquidity crisis.  I think it’s going to be a value reset.  I think there is going to be a jarring downward price adjustment both in the stock market and in the bond market.  This phantom or phony wealth that has been created since the last crisis is going to basically evaporate.”

So, what asset is safe? Stockman says gold and goes onto explain, “I think the time to buy (gold and silver) is ideal.  Gold is the ultimate and only real money.  Gold is the only safe asset when push comes to shove.  They tell you to buy the government bond, that’s a safe asset.  It’s not a safe asset at its current price.  I am not saying the federal government is going to default in the next two or three years.  I am saying the yield on a 10-year bond of 2.4% is way below of where it’s going to end up.  So, the only safe asset left is gold.  This crazy Bitcoin mania has drained off what would otherwise be a demand for gold. . . . When Bitcoin collapses, spectacularly, which it will because it’s sheer mania in the markets right now.  When it collapses, I think a lot of that demand will come back into gold, as well as people fleeing the standard stock and bond markets for the first time in 9 or 10 years.”

What about the so-called Trump tax cuts? Stockman predicts, “I think it’s going to be a fiscal calamity of Biblical proportions.  I want to be clear.  I am always for tax cuts and shrinking the size of government, but you have to earn it.  You have to cut spending and entitlements and this massive defense budget.  Obviously, they didn’t do that.  If you look at honest accounting . . .  this bill will add $2.5 trillion to the public debt which, and this is a key point, is already going to rise by $10 trillion over the next decade based on the current law and taxes that is still in.”

“More importantly,” Stockman says, “The central banks realize they cannot keep printing money at these crazy rates, and by that I mean the bond buying. Now, they are going to begin to normalize and shrink their balance sheet. . . . By the fall (of 2018), they (the Federal Reserve) will be shrinking their balance sheet by $600 billion a year.  What that means in plain simple English is that they (the Fed) are dumping $600 billion a year of existing bonds into the market just as Uncle Sam will be attempting to borrow $1.25 trillion more.  Now, if you don’t think that is a financial collision waiting to happen, then I am not sure what would be.  We are heading for a thundering collision in the bond market that will drive yields upward far more than the market is expecting.  The stock market operates on the illusion of permanently low interest rates.  When interest rates start to rise, everything is going to come apart because cheap debt has been priced in forever, and we are heading for far more expensive debt. . . . Bond prices are going to collapse when yields begin to rise. . . . Stock prices are going to collapse big-time when the underlying predicate of cheap debt, massive stock buy backs and M&A deals and everything else supporting the market today finally reverses.  So, we are going to have deflation in the canyons of Wall Street, and that will not be a happy day.”

Join Greg Hunter as he goes One-on-One with financial expert David Stockman.

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After the Interview:

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Comments
  1. Anthony Australia

    Thanks Greg

    Love & Peace to All

  2. Paul ...

    David Stockman clearly sees oceans of phony un-backed paper and digital currency being created and used as real money (as budget cuts never materialize) … this inflation of paper and digital currency (QE to infinity) will eventually drive up interest rates (and bonds will fall in value) … as for real money (gold and silver) they will be worth more and more of this paper and digital currency so loosely created by the banksters (to fund the continuation of their debt system) … it is as simple as that!

    • OutLookingIn

      Paul – Totally agree.
      Crypto coins are nothing more nor less, than electronic tulip bulbs.
      Thus a purely fictitious form of wealth.
      Relying upon a computer system for their survival.

      • DougG

        You obviously no nothing about Bitcoin and the Blockchain. I am a long time Gold holder but I also recognise that the Blockchain and Bitcoin are the future. I now have both. Equating Bitcoin with tulip mania is nonsense. Bitcoin has only just started. I’m old enough to remember when people said “what is the point of the internet?” “Nobody will ever use it”. Now practically every transaction is done with digital currency (Visa). I suggest you take the time to study the Blockchain and that fact that we all rely on the internet for our survival these days.

        • DougG

          No should read know. Too much Christmas cheer.

  3. L4S

    Well, if you know the credit is going to dry up and the whole world is going to default, it seems to me to make sense to run up your debt as high as possible BEFORE the event. And IF you’re “in control” of the event, there’s little possibility of mistiming the event, isn’t there? That way you trade your worthless paper for durable goods and other stores of real wealth…and ostensibly get away with it.

    Don’t listen to what they say. Watch what they DO!

    • Charles H

      I strongly disagree. Just because the Lemming majority does something doesn’t make it right. And no one can tell what will happen to the debt when things dry-up. Likely everything will be repossessed, AND the debt accrues against you. Forgiveness? Only in court, and when you are dead. Remember the ‘monkey see; monkey do maxim’?

      • This sceptred Isle

        Exactly Charles!

      • Mitchell Brown

        That’s about the same as that computer bug they said would cause planes to fall from the shy once the calendar turned over to the year 2000, the masses fell for it hook line and sinker.
        Even the ones I showed first hand nothing would happen with my old computer at the time, they still believed what others said over when their own eyes showed different.

    • This sceptred Isle

      The thing is you have to stay solvent until the reset. People could have maxed out on debt in 2012 expecting the reset to be round the corner. Too many unknown quantities with this strategy.

      • Silence is Golden

        Reset ?

        • This Sceptred Isle

          Reset/crash/debt crisis – Whatever you want to call it.

  4. Jerry

    Here you go. Proof positive that the globalist have been planning the end of the petrodollar by 2018 for years.
    https://www.bloomberg.com/news/articles/2009-10-06/oil-not-priced-in-dollars-by-2018-businessweek-business-news-stock-market-and-financial-advice

    Meanwhile we have all these so called experts sitting on the sidelines spinning the same old story like a clip out of the movie “Animal House ” All is well……all is well…..don’t panic. As for me, the illusion ended four years ago when my earnings dropped by over 30% while everything else went up in price. The Trump tax cut is like a fart in a world wind when you consider that real inflation has been steadily going up for the past forty years. High health insurance cost? Yea they’re high, but so is everything else. Just try buying a car for under $20,000. or a house for under $100,000. Unless you’re a banker creating money out of thin air, you’re probably in debt up to your ears. The only way out of this mess is a with a currency reset, and its coming when the Chinese and our good friends the Saudi’s (LOL) stick a knife in the petrodollar.

    • Jerry

      More proof of a global currency shift .
      https://www.hellenicshippingnews.com/china-takes-a-driving-seat-in-global-oil-markets/

    • Stan

      Jerry: The only person foolish enough to accept Yuan for crude oil is you.

      • Greg Hunter

        Stan,
        The Russians are accepting Yuan for oil. http://russia-insider.com/en/politics/saudi-arabia-has-lost-asia-russia-now-chinas-biggest-oil-partner/ri12611

      • Silence is Golden

        Take off the rose colored glasses.

      • tin foil hat

        Stan,
        The Chinese understand the credibility issue with the yuan and that’s why they emphasize oil futures denominated in yuan convertible to gold or gold futures denominated in yuan scheme.
        These Yuan denominated oil futures contracts are convertible to gold via exchanges in Dubai and Hong Kong gold futures contract.
        Unlike the COMEX and the CBOT which pulled a fast one on the Hunt brothers by changing the rules, no investor could hold over millions oz of silver contracts and raised the margin requirement, Dubai and Hong Kong will honor (back) the futures contract, in free market price, denominated in yuan with physical gold delivery. The beauty of this scheme is that Dubai and Hong Kong will have to replenish via the Comex or LBMA – indirectly backing the yuan denominated oil futures with dollar denominated gold or gold futures.
        I suspect when gold price reaches over $7,000 to $8,000/oz, China will then loosen its tight restriction on the flow, allowing gold to be exported out of China via SGE – directly backing the yuan denominated oil futures, in free market price, with yuan denominated gold or gold futures.
        In short, China is backing the yuan denominated oil futures with dollar denominated gold via Dubai and Hong Kong until Comex and LBMA are broken by the genuine free market in physical.
        I think it’s brilliant plan unless war break out in N. Korea.

  5. Tad

    Craziness, indeed.

  6. JC

    Perfect timing Greg. I remind people when trickle down did not work it was David Stockman that advised Reagan on how to set the recovery back on track. Today , Trump would do good to have David Stockman’s advice handy.
    Thank you Greg for having David Stockman on.

  7. Tad

    http://en.newyork.mfa.ir/uploads/yemen_132659.pdf

    I realize I’ll be labeled a terrorist or Iran apologist for posting this, but I think it’s critical to understanding US involvement in Yemen- or not- depending on one’s level of brainwashing.

    While the MSM is virtually nonexistent on Yemen reporting, one can also google Yemen War, Wikipedia and find numbers that approximate that found above.

    • Greg Hunter

      Tad,
      If Iran would simply pull out of Yemen all this would stop. Iran is the one on foreign soil attacking here.
      Greg

      • Tad

        Remove Iran, and simply insert US and Saudi Arabia. Do likewise with Syria and Iraq.

        Whether one submits that Iran is the bad guy in Yemen, nearly a week ago President Trump asked the Saudis to remove the blockade around Yemen’s ports and border crossings. Probably a food and water (humanatarian) issue.

        • Greg Hunter

          Tad,
          War is ugly and Iran can simply back out but they don’t.
          Greg

          • David

            Greg –

            Hasn’t the US been interfering in the affairs of Iran since 1953 when it overthrew its democratically elected leader because he had the temerity to say that they would be keeping the nations oil?

            https://www.theguardian.com/world/2013/aug/19/cia-admits-role-1953-iranian-coup

            I’ve been to Iran while in the US Navy in 1977 before the shah was overthrown. Was treated with more dignity and respect than any other country we visited in the ME including our “friends” Saudi Arabia and Israel. Perhaps the US should stop meddling in their sovereign affairs and things would be a bit better.

      • AA

        Saudi’s

      • Frederick

        Greg Why do you keep defending the ones who attacked us on 911 and attacking those who haven’t done anything but defend others being attacked by bullies like the Saudis in Yemen Huh Why is that?

        • Greg Hunter

          Frederick,
          The “ones” who attacked us are inside our own government.
          Greg

        • sk

          It has to do with some statements in some holy writ from some millennia ago, Frederick. I’ve had the same question as you for years now as I read USAWD. Software in the central nervous system of us, the carbon-based computers?

      • Steve

        Ron Paul, X-22 Report, and others can find no proof of Iran in Yemen.
        Perhaps, if Saudi Arabia, backed with U.S. Arms were not there, everything would be ok.

  8. Solomon

    The only way that any nation’s economy is going to recover and massive wars to cease would be to close all central banks, the arrest and public hanging of all criminal banksters, and the return to honest markets.

    However, this is not likely to happen in my life time. As such, humanity will remain debt slaves and disposable Goyim.

  9. bastiat

    Greg, unless something has changed since the last time I commented, I don’t think it’s possible for us to get notifications of responses to any comments we leave here; in other words, real conversation can only take place for a very short time, for only as long as a participant is willing to look up their submissions and see for themselves if anyone has responded here.

    This is too bad, because most of these topics are really worth exploring.

    I had asked about this before, and someone told me that in order to do this you would have to setup and administer a dedicated server, or something, but I never got that.

    I much prefer discussion boards in which comments that get any attention are “bumped” for as long as they do (and as a moderator you could “sticky” whatever you think is most important), but even if you were to go the blogging route (I never liked how entries roll off the screen whether they get any responses or not), aren’t services like WordPress free (albeit with ads), very similar to what you are already doing, and don’t they send out email notifications to responses and let you subscribe to comments?

    I’d welcome comments and suggestions from anyone on this.

  10. Rodster

    I am still surprised/shocked that this Ponzi Scheme still has legs and continues to go on. We are quickly approaching the 10th year anniversary of the last financial depression and as Sonny and Cher used to sing:

    ……..”and the beat goes on”

  11. angieB

    “You have to cut spending and entitlements and this massive defense budget. ”

    How refreshing for a republican to acknowledge what most republicans refuse to acknowledge: that our massive military spending is a problem, also.

    • Chip

      And the thing is it would be relatively easy to cut the defense budget and still maintain almost the same size standing army by closing most overseas bases and returning the troops to the US. We could still project power when needed from a few strategically placed bases… Chip

    • Tinfoil hat Canuck

      John,
      Glad you posted this link. Since many watchdoggers are Trump supporters, I thought it would really be an impressive interview if Greg had PCR on again, and this time addressed him straight on about the political scene this time rather than primarily the financial.

    • susan

      Nah. PCR hates Israel so Trump is a bad guy now.

      • Frederick

        Correction PCR hates injustices and bullies of all denominations

        • markp

          Well said Frederick. PCR is a patriot, second to none. He must be crying inside to see how far your great nation has fallen. I have done a lot of travel in your country over the last 35 years. In my experience, I know the people are good at heart, and the country is beautiful, but your politicians suck. M.

  12. John

    Richard Russell of DOW Theory Letters died in 2015 at the age of 91. He wrote many times that ultimately, the survivor, “the last man standing” would be gold.

    http://www.321gold.com/editorials/russell/russell021510.html

    • Greg Hunter

      Thank you John for posting this!!! It’s powerful to hear Stockman talk about gold as he has never really been a “gold guy.”
      Greg

      • Graham

        Hi Greg,
        did you catch Goldcore UKs latest headlines on the 19th
        ‘New EU Rules For Cross-Border Cash and Gold Bullion Movements’, gold now to be classed as cash, ‘Legislation will allow authorities to seize assets from those ‘without a criminal conviction’’ so it is assumed you are a criminal. No Brexit until you’ given up your Gold!

        • This sceptred Isle

          Get gold sovereigns. Small enough to look like regular coins.

        • Corleone

          It is more accurate to say that cash and gold are deemed as currencies by EU. That makes sense. Alan Greenspan said in some different events that gold is still a currency. For thousands years, gold never ceased to function as a currency.

  13. andyb

    Greg: Although Stockman is a constant purveyor of Doom and Gloom, you cannot argue with his analyses of all things economic and the undeniable need for a financial reset. He and Peter Schiff are definitely on the same page since both envision a 3rd Qtr (or thereabouts) 2018 conclusion. And, of course, both Holter and Kirby have similar feelings. The question is, as always, what will trigger the implosion? Will it be the BK of major European banks? A US major pension calamity? The takeover of all private 401 (k)s by the USG? A doubling of the gas price?
    BTW, the Trump tax plan is a farce; bending over for the banks and major corporations totally offsets any gains of the middle class, or small businesses, with very minor exceptions. Hedge funds, still with carried interest, will benefit “bigly” as will holders of large real estate empires. Meanwhile, absolutely no spending cuts of any consequence

    • Silence is Golden

      ….and TRUMP is the POTUS for the People…???

      NOT !!!

      • Greg Hunter

        SIG,
        The alternative was the criminal Hillary that 94% of Washington D.C. voted for. Trumps is not perfect but far better than Hillary.
        Greg

        • Ron Mauer

          Greg you are absolutely correct.

        • Corleone

          The other alternatives are Gina Mancarella and Rich Treadway.

        • Silence is Golden

          We have to do with reality not hypothetical’s.

    • Frederick

      Purveyor of gloom and doom I don’t see it that way at all I see honesty and integrity in both David and Peter

    • Occasnltrvlr

      As correct as the analyses of gentlemen such as Messrs. Stockman and Schiff may be, doesn’t it seem just a tad odd that, month after month, quarter after quarter, year after year, and now stretching to decade after decade, a major correction, calamity, or “reset” is always probably just about two or three quarters out?

      Always.

      ALWAYS.

      Forever? No, but, for as long as need be… .

  14. daniel turner

    Mannarino likes to say money never go’s to money heaven and so he is correct. Smart money will leave bonds and stocks ahead of the herd and will go the next best thing and I think it will be the commodity complex and real estate/land In less inflated areas and acquisitions,cash. Tangibles like beat up under valued near production cost precious metals.
    Like some have been writing STAGFLATION is coming so where is this money the new tax plan promoters say will come come back home going to go ? Hire people and grow the company in the middle of a debt saturated economy in recession ? Sounds like a bad risk to reward play to me. There MUST be a reset/debt restructuring/pay down what ever you want to call it before this economy can move forward again. Stockman is always good.

    • This sceptred Isle

      “Mannarino likes to say money never go’s to money heaven and so he is correct. ”
      Except in the case of a default and then the financial asset in question vaporises.

    • Corleone

      Currency reset is not extraordinary. It is something inherent in every fiat currency system.

  15. tin foil hat

    I don’t agree with Stockman regarding the military budget.
    Our military IS the asset which back the dollar. I do not question Trump decision on the increase spending in our military.
    The only reason China wants a gradual transition is because we still have the world biggest military. If we didn’t, they wouldn’t keep buying the Treasury bonds knowing full well it is debt which can never be repaid.

    • FC

      That’s correct TFH the dollar is backed by the military, but the military hardware of today is so easily hacked that it’s almost rendered worthless and our adversaries know it.

      • Tin foil hat

        Yes, our adversaries know it but they are not 100% sure. All they know for sure is that the deep state has gone insane to keep the Ponzi alive.

    • This sceptred Isle

      “Our military IS the asset which back the dollar.”
      This is not a good omen for the US dollar then, as the US will not be able to fight everyone simultaneously.

      • Tin foil hat

        It’s not a good omen for the dollar but that is what has kept the Ponzi alive for at least 5 years or 16 years. Anyway, I don’t think Trump wants war. He is merely building up his bargaining chips to negotiate with the BRICS. However, China knows if they push our back against the wall too quickly, Trump may have no choice but to cooperate with the likes of Hillary and McCain.
        Nobody wants to take the first shot at someone who is holding a double barrel shot gun and has nothing to lose.
        https://m.youtube.com/watch?v=1AVpaOuE1Pg

    • Frederick

      We may have the largest military in the world however I’m very curious how well we would fare in a ground war in Asia against China and Russia My Guess is not very well Remember your history and how Germany was far superior to Russia in 1941 and how that turned out for them All this talk of war is just stupid and dangerous to all humanity

      • tin foil hat

        We will lose in a ground war in Asia.

        The Deep State knows that too but that doesn’t matter. The goal is to cause chaos and disruption of the petro yuan just as the objective of the 2nd Gulf War is to stop the expansion of petro euro where the pressure point was in the Mid-East, not Europe.

        Ukraine’s Orange Revolution, Syrian civil war and the sanction against Russia are all parts of a failed effort to keep the Russian from straying from the petrodollar – After the collapse of the Soviet Union, Russia conducted all businesses, including oil & natural gas sold to Europe, in dollar.

        To slow down the petro yuan, the Deep State needs to create instability in S.E. Asia and Mid-East. A ground war in China is not in the plan.

        Whether you like it or not, all this stupid and dangerous ACTS of war/financial war have already happened and ongoing. The only reason you don’t see it is because it looks more like a war dance than an outright war.

  16. daniel turner

    Why must a economy have constant growth anyway ? Because Wall Street says so ?
    How have they been getting growth lately ? Debt issuance. In effect spending into the future and that can only go so far. You must have wealth growth distributed equally in a society and or sustainable population growth. When I say sustainable population growth resources and infrastructure and jobs must be in place to support it. I wonder if they are trying to get population and economic growth in Europe with the refugees since the Europeans aren’t have so many babies lately. If so that plan looks like a disaster so far.

    • This sceptred Isle

      We need to convert from economic models of growth to sustainability.

    • J. T. Heater

      A debt based economic system has to keep growing or it dies. Or it keeps growing until it kills the host (Planet Earth). It has the same ideology as the cancer cell.

      • This Sceptred Isle

        …or a zombie apocalypse.

    • Chip

      Exactly! Growth is like a cancer. For example, 5% annual growth in government means the size of the government with DOUBLE in just 14 years! Use the rule of 69 to calculate the time for anything to double if you know the annual growth rate. Divide 69 by the annual rate of growth and you have the time in years it will take to double whatever is growing… Chip

      • elmer

        Rule of 72

  17. H. Craig Bradley

    INVESTORS AND MARKETS ON THEIR OWN

    While there is no doubt David Stockman knows about budgeting in the Federal Government and its debts, he is clueless to the effects of concerted global central bank collusion. By this I only mean he is right, perhaps even “dead right” but in real time, completely off, as zero bound interest rates have distorted valuations.

    He knows all this and “sticks to his guns”, but markets have a mind of their own. Fact is, nobody can accurately predict tomorrow or what prices may do. He can only guess as to what may happen, and even then, its not assured. If the FED really reduces their balance sheet gradually, then perhaps interest rates won’t spike. The potential for a policy mistake and market overreaction is what investors must live with in uncertain times, and hopefully guard or hedge against.

  18. Lake M

    Greg,
    Mr. Stockman takes a lot of heat for his analysis of our current economic demise.
    Most critics point out that because the price reset for paper assets has not occurred yet, that his warnings carry no credence. It is easily understood that the actions of western central banks and their political allies have deferred the correction via their desperate actions that Stockman warns about. They appear to have done nothing but make the situation worse and have set the path for the destruction of the bond and equity markets with monetary excess and a lack of fiscal rehabilitation. The current tax plan seems more like another desperate attempt to keep the Ponzi alive. Allowing the corporate repatriation of overseas holdings at a big discount seems like another QE-like action. The propaganda portraying this latest overhaul of tax law has been thick and heavy. One naive investor was overheard saying the tax bill will bring on 20 years of new prosperity to the US. The daily dosage of misinformation by MSM is beyond the pale and effective in sucking up one more round of cash from public investors. When reality finally arrives, I think Stockman will be proven correct as trillions of dollar priced assets will reset to their appropriate value and vanish from the investor wallet.

    Has anyone noticed that CNBC is now showing the live Bitcoin quote on their data screen? Feeding the mania as the CME begins the trading of paper Bitcoin and blowing up a new bubble in another price manipulation scheme.

    Merry Christmas to you Greg and all the Watchdogs. Thanks for all the great reporting this year and your attempts to discover the truth in the world in which we live.

  19. Gordon Carpenter

    Can some one explain to me how the central bank dumping bonds into the market raises interest rates and hence lowers bond prices. This is backwards to my way of thinking. If the Fed is increasing supply and the Treasury is increasing demand due to the rising deficit that Stockman talked about, the net affect is zero. or some what higher as the bond demand from Treasury should outstrip the supply from the Fed if I have Stockman’s numbers right.
    He also does not understand the cryptos if he thinks they are in a bubble. The only bubbles around are in virtually every thing else except precious metals. Money is running to cryptos for various reasons and will continue into 2018 especially if there is a bond and stock market sell-off.

    • Greg Hunter

      Gordon,
      The Fed Selling their bonds means more competition for sale of debt. More competition means they have to pay higher interest rates to get buyers to buy.
      Greg

      • Gordon Carpenter

        I see. Thanks.

    • This sceptred Isle

      When the central bank dumps bonds onto the market, the price drops as the sellers outweigh the buyers. This means that the interest rate on each bond is higher as a percentage of the bond price on purchase.

      • Gordon Carpenter

        Thanks. Yeah it is the bond price and not the yield that determines things. I had it backwards.

  20. Jodyp

    Mr.Stockman says Bitcoin will crash. Ill stay in my crypto-neutral-corner. Especially in these wacked out times, no one knows the future. Enjoyed the interview.

    • Charles H

      “If it seems too good to be true”…. It is BET; a gamble: not a product.

      • This sceptred Isle

        very true

    • Silence is Golden

      When does someone ring the Bell at the Top of the Market ?
      Answer : No One.
      Founders selling out is definitely something to take notice of though.

      • Silence is Golden

        Shazam

        • Charles H

          You guys are great. Commenting here makes me feel like an old knife in a drawer full of scalpels.

          Merry Christmas.

  21. John

    Had to skip this one due to low quality video and audio.

    • Greg Hunter

      It’s free John, and please keep in mind, Mr. Stockman took time out of Christmas break to talk at a pivotal time.
      Greg

  22. Donald

    “this bill will add $2.5 trillion to the public debt which, and this is a key point, is already going to rise by $10 trillion over the next decade based on the current law and taxes that is still in.””

    In today’s world economy there is no way that $2.5 trillion in savings can be sourced for a US deficit of $2.5 trillion. Probably on a good day it could source $1 trillion. That means that much of this debt will simply be created electronically. So it will (to some extent) dilute the value of existing dollars out there. Note that some portion of this money will inevitably wind up creating tangible assets along with about $500 billion in additional tax revenues. Who does the USA have to pay this money back to?? Itself. What does it mean to pay it back? It means to withdraw it from circulation. This is comparable to a share buy-back. But why would anyone want to raise the value of the US dollar against international currencies and impair the US with respect to trade? So the funds will never be paid back. But they will “forever” appear as an accounting log to satisfy the bean counters. This goes on until a panic occurs and confidence is lost.

  23. FC

    2001 was Strike One, 2008 was Strike Two and by all accounts 2018 will be Strike Three and you’re out………..think physical not digital.

    • Greg Hunter

      FC,
      Short, sweet and profound comment. I agree!!!
      Greg

    • This sceptred Isle

      Reminds me of that Olivia Newton John song ‘ Let’s get physical’, although I think she was thinking of something else!

      • Bondo

        yeah she was talking about palladium

    • AA

      2022

  24. Glen

    In my opinion gold and silver will stay suppressed until something changes. As long as we stay in this crazy manic bubble phase where stocks and bitcoin and real estate keep going higher, no one is going to pay the least bit of attention to gold and silver. The million dollar question is when does the everything bubble pop? Next year? Or, five years from now.

    • Greg Hunter

      Glen,
      And maybe 5 days from now–who knows. When it breaks you best have it under your direct control.
      Greg

      • Frederick

        I know we disagree a lot Greg but I think we are more in agreement that not Have a very Merry Christmas and a Happy 2018 and thanks for all you do to help people

        • Greg Hunter

          Frederick,
          You are an honorable person and good men can disagree. I agree we agree much more than disagree. Merry Christmas to you and yours.
          Greg

    • Charles H

      Gold and silver will go nowhere until everyone walks away from the corrupt gaming. This is why such astute suggestions as – ‘holding precious metals OUTSIDE the country’ are relevant. The games won’t stop until there is nobody at the table to cheat.

    • Paul ...

      What is with this guy Lee? … doesn’t he know all crypto is going to the moon?? … why is he selling at the bottom??? … every crypto owner knows Bitcoin is going to a million dollars each!! … and to top it off he has simply exchanged “limited electronic bits” for fiat “pieces of paper” the Fed prints out of thin air “to infinity” … unlike diehard Bitcoiners who know value when they see it this guy Lee must be an idiot … he should be selling any gold and silver he owns as Harry Dent suggests, mortgaging his home and maxing out his credit cards to “buy as much crypto as he can get his hands on”!!! … http://www.zerohedge.com/news/2017-12-20/litecoin-founder-cashes-out-sells-entire-stake-after-9300-rally

      • Paul ...

        Hum? … seems more people then Lee are selling their crypto? … “insider selling” is dominating the market?? … these guys must be just as crazy as Lee??? … obviously this is a fantastic buying opportunity for the average Joe to take whatever money he has saved in his cooky jar and buy as much crypto as he can get his hands on … as these insider “weak hands” are moronically disposing of it!!! … http://www.zerohedge.com/news/2017-12-20/bitcoin-cash-briefly-spikes-8500-after-massive-glitchtrading-halted-cryptos-twice-on

        • Paul ...

          Every crypto investor knows with 100% certainty that crypto currency is going to put the Federal Reserve Banks of the entire world out of business … and that any crypto selloff is simply a buying opportunity … the banks are done for … they will all simply close their doors and go out of business like good crooks … unless (God forbid) they start up their own crypto currency! … isn’t it funny how gold and silver are at a top right now (as Harry Dent keeps telling us) and should be sold now … and crypto’s are now at a tremendous bottom … getting ready to go to the moon! … http://www.zerohedge.com/news/2017-12-20/washington-post-propagandizes-again-says-fedcoin-will-be-bigger-bitcoin

          • Beligerent

            Crypto is the future. Not to say gold doesn’t have its place but just look at the escalation during the past few years of crypto. It’s here to stay…

          • Paul ...

            What’s with all the panic selling?? … so one guy sells all his Litecoin, a bunch of insiders dump their crypto and the future’s exchange is now likely shorting crypto … but should everyone panic? … where are the strong hands who will buy into this “normal correction”? … Schiff says “mark it to zero” but even today tulip bulbs still have some value (about $2.50 each) … and I can even get a few bucks for the 50 cabbage patch dolls I have in my closet! … so crypto’s are not likely to go to zero! … http://www.zerohedge.com/news/2017-12-21/crypto-carnage-continues-bitcoin-down-5000-record-highs-schiff-says-mark-it-zero

          • elmer

            No, not every one believes this at all. Try to keep in mind the essence of a speculation is trying to project future humane behavior, Guessing what humans will do is the very definition of risky. Crypto should be viewed by prudent individuals as a purely speculative venture. Certainly wealth has been gained with cryptos and more may be on the way but it is not to be made equivalent in nature or kind to historical wealth storage vehicles ie land , precious metals and patent protected technologies, to name a few,,,,,

  25. Tommy

    Just face it. There is no way to side step a financial calamity. I don’t care what “treasure” you have. If things get as bad as some predict we will just have chaos. You may have your gold but unless the farmer is still in business and willing to sell you wheat for a shekel you will be sol.

    • Paul from Indiana

      Tommy, if at least 50% of the populace is not prepared, then the total chaos created by the unprepared will weigh the prepared down to the point of the so-called preparation being negligible. But the preparedness goal (illusion?) is what keeps many people focussed and sane. I agree with you. The majority are unprepared, extremely so. A real chaotic development will affect everyone, and everyone severely, especially those in the urban areas. Louisville, KY is the closest big city to me. There are hundreds of thousands of people in that metro area, a large percentage of which have NO assets of any kind, live totally on government assistance, and are known to get lawless (burn, riot, loot, rob) when things don’t go their way. Prepared? You must be joking. Best always. PM

  26. William Stanley

    Mr. Hunter: Thanks for getting David Stockman! They don’t come any better.

    • Greg Hunter

      Thank you William!
      Greg

  27. Marcel Fiechter

    Hello Mr. Hunter, great interview once again. Please put your videos to steemit. I’m quite sure Gregory Mannarino told you allready. I installed steemit yesterday. It’s great. I could upvote you. Just from me you would earn 1-2 Dollar for an upvote. And if I write a comment and you write back, you would earn again 1-2 Dollar. Sure it’s not a lot in the beginning. But steemit has a huge potential. Just in one day i was upvoting Gregory Mannarino. He earned allready 7 Dollars just from me in one day. Try it and you will be fascinated.

    • Greg Hunter

      Marcel,
      I will. Are you from the company?
      Greg

      • Marcel Fiechter

        No, I’m not from the company. I’m from Switzerland. I’m watching videos from you and Greg Mannarino. Get into steemit as soon as possible. The early adapters are pushing into now.

        • Greg Hunter

          Marcel,
          Mannarino told me the same thing months ago, and he, and you are correct!!!!
          Greg

  28. Silence is Golden

    Greg,
    Off Topic.
    Can you look into what is happening in Chicago with the UN Peacekeeping force stationed there. To me this is the start of the “MARTIAL LAW” and its a very bad Omen for the US citizenry and the rest of the Country.
    Foreign troops on American soil….so many issues to contend with here.
    Your thoughts Greg ?
    Maybe you can look into having someone on to flesh this out.
    In my book this is ringing all alarm bells and raises too many RED FLAGS.

    • Greg Hunter

      SIG,
      The UN is not there and will not be allowed in by the trump Administration. If he does it would be treason, and that’s not going to happen. Hillary would have been a much different story.
      Greg

  29. Steve L.

    David doesn’t understand cryptos and the blockchain technology.

    • Greg Hunter

      Please don’t say this when you disagree Steve — just disagree. Stockman was the White House budget director. He’s not stupid.
      Greg

    • markp

      Steve L, please see my comment below regarding Mike Maloney’s latest instalment, https://goldsilver.com/hidden-secrets/hidden-secrets-of-money-episode-8/ entitled “The Crypto Revolution”. It would seem that perhaps you need to reassess Blockchain technology.

    • This Sceptred Isle

      I have seen this argument used to bash people who are bearish on Bitcoin. To be truthful it is not even an argument.

  30. Tad

    I really don’t understand from the likes of Nancy Pelosi and Chuck Schumer why the tax cut bill isn’t a boon to their constituents.

    What, we’re talking about 42 million illegal immigrants, DREAMERS, chain migration types getting first class healthcare at zero cost; working jobs under the table or with a stolen social security number; they can almost kill freely almost without incarceration; the H1-B visa program taking jobs from qualified Americans, etc.

    I mean, House and Senate Republicans have their back. What could possibly concern them?

    The thrust behind the perceived slight felt by lower and middle class Americans toward the bill, is probably felt among Americans who can’t find work because of illegal aliens.

    How does one get ahead without gainful employment?

    How does the administration plan for an uptick in GDP over time that doesn’t include the free flow of illegal aliens? Is their a plan to allow foreign, qualified tradesmen to immigrate here in anticipation of a residential and commercial construction boom?

    How do young black men and women figure into this equation?

  31. Da Yooper

    Stockman says

    “We are in the 10th year of a fiscal recovery ”

    ROTFLMAO ……sure ………what ever you say ……….not

    you need to wings to stay dry from the BS that is shoveled to us daily

  32. monty bissett

    Thanks Greg . Hope you and your family have a great Christmas season.
    Greg you went over your ObammaCare debacle. Can you run those numbers by us for the last 10 years of your costs. Can you also tell us the deductible you had each year before you gave up.

    thanks
    Monty Bissett

    • Greg Hunter

      Thank you Monty and Merry Christmas to you and yours!!

      Greg

  33. markp

    While we are talking about cryptos, if you haven’t already seen this, please check out Mike Maloney’s latest instalment, https://goldsilver.com/hidden-secrets/hidden-secrets-of-money-episode-8/ entitled “The Crypto Revolution”. It is well worth the time. Food for thought.
    I thought it was a very good presentation of the current status. I didn’t know much about “Hashgraph” but it appears to have legs, whereas Bitcoin et al [i.e. Blockchain technology] is an ever growing power killer, and slow as [name your own definition]. I mean 7-10 transactions per second [quoted for Bitcoin] cannot be a realistic method for a payment system. Personally, I think Bitcoin and some [all?] other coins/tokens are in bubble territory, purely speculatively driven and destined to crash bigtime. When will the stuff hit the fan regarding crypto speculation is anyone’s guess, but it is bound to happen. Having said that, somehow I think the powers behind the current [Ponzi] banking schemes will never let Hashgraph based systems to arise to ubiquitous usage – they [the banksters] will have everything to lose.

    M.

  34. Gordon

    The size of the federal deficits are even worse than the levels described by your guest David Stockman.

    The reported deficit doesn’t capture an accurate picture of the federal financial situation.
    An increasing number of items have been taken off the expenditure accounts and re-categorized as “investments.”
    This accounting gimmickry has artificially reduced deficits for the past three fiscal years relative to the actual
    amount of debt that was incurred. For example, the increase in federal debt for the three years
    ending September 30, 2017 totaled $3.2 trillion,or almost twice the $1.7 trillion cumulative deficit
    for these three years.

  35. Frank Thomas

    As The Bully in Chief, and his Cabal of Lap Dogs celebrate their legislative victory, “The Debt Enslavement Act of 2017″, we citizen can take solace in knowing that soon the ” Trickle Down” will soon morph into a Raging River of Abundance and Prosperity for all.
    PS: I’m still looking for the America I once knew.

  36. Chip

    Excellent interview, thank you David and Greg… Chip

  37. Jerry

    Yeas folks we’re all in good hands now. Everything is going to be just fine. 🙂
    http://www.valuewalk.com/2017/12/pakistan-might-dump-dollar-for-yuan-in-trade-with-china/
    Now if we can just convince the rest of the world.

    • JC

      Jerry once a man I worked for 20 years said JC just look at all the work I gave you. I replied somebody lied to you, I want the money not the work.

  38. The Botton Liner UK

    No offence but this is a doomsday-panic atavistic argument. The idea that just because something can be held in your hand it’s intrinsically safer is nonsense. The price of gold could go anywhere. It’s pretty high right now IMHO and a bit too liquid for something that’s meant to be scarce.

  39. Bondo

    For those of us living in the real world silver is good too. I personally believe silver has more upside potential, and offers more liquidity in time of crisis.
    A lot more coinage to pack around however.
    But Mr. Stockman is absolutely correct. If I could afford it, I would be big into the Au.

  40. Mike R

    Bitcoin has now gone from $19666 down to $13575 (price As of 10:21 CST on 12/21/17) in a few short days. It could easily go down 3 or 4 or 5 times faster than it went up. Many people are cashing out of nearly all these crypto’s now, especially there are rumors of insider trading at bitcash, CEO’s punting, early ‘inventors/miners’ jumping ship. The futures on BTC are going to rip these holders to shreds, down, then up, and down down down. Then run it up again. There will be no long term holders. The early buyers are going to really start cashing out. late comers are doomed, and already saddled with major losses. So where’s the value ?

    • Silence is Golden

      The greater fool theory has proven itself again.
      Down she goes…..hard and fast.
      You could very well be correct…..speculation on both sides of the fence….or should that be ……mine??

    • Mike R

      as mentioned last night, face ripping on Bitcoin clearly underway. Dropped again down to $10,000 handle (so down $9000 from its top), then ripped back higher to $13,000.
      There is no utilization for something this wickedly volatile. Its not even gambling. More like suicide for your wealth if you dare to put it there.

      http://www.zerohedge.com/news/2017-12-22/cryptocurrency-heatmap-sea-red

  41. Lois Petersen

    Thank you Greg Hunter for all you do to bring great interviews to us throughout the year. And blessings to you and your family for a very “Merry Christmas”. Boy I’m so thankful that I can say that. 🙂

    • Greg Hunter

      Me too Lois!! Thank you and Merry Christmas!!!!
      Greg

  42. Tad

    https://www.globalsecurity.org/military/library/news/2017/12/mil-171222-unnews02.htm?_m=3n%2e002a%2e2187%2env0ao023ey%2e20id

    Nearly a million Yemen citizens suspected of having cholera. Article states that water and sanitation across country are near ruins.

    I believe Saudi Arabia wants to annex Yemen, but what do I know.

    • Greg Hunter

      Tad,
      I think Iran should go home and stop the war.
      Greg

  43. Lane

    Can someone who understands finance better than I answer me this: If the Fed is unwinding their balance sheet of all this garbage who buys it? Thanks

    • tin foil hat

      Lane,
      The mysterious buyer could be China disguising its Treasury purchases by holding them in Europe. I suspect the real culprit is the NY Fed. managed Exchange Stabilization Fund.

      Nothing makes sense since 2011. Folks forget how Dow moved up 3,000 points on bad, I mean really bad, economic news in 2013. Interest rates moved lower as the Japanese and Chinese dumped all the garbage – I took a serious beating (short 20+ Year Treasury – TBT) and gold miners (GDX) in 2014.

      https://www.washingtontimes.com/news/2014/jun/29/baffled-by-belgium-burst-of-us-bond-buying-raised-/

      • Lane

        Thanks TFH. Exactly – nothing makes sense , there are no true markets. I have been destroyed in with miners. I took a loss this year on some and still holding some bad ones trying to decide if I should sell those too. So what you are saying is that there is some phantom entity (s) that are basically putting all the crap on their balance sheet instead? And do you have any idea what could bring it down? People say a margin call , but I bet there have already been large ones that these groups have bailed out in a similar way to what you are talking about.

  44. Mitchell Brown

    Sorry Gregg but you are wrong, there is 1 thing ALOT more valuable than gold or any valuable metals and that is food. You can have all the gold in the world but if you have nothing to eat you will die because you can NOT eat metal.

  45. Mr. Knoss

    Over the past two years David Stockman has successfully predicted 100 of the last 0 stock market crashes. It sounds like he finally capitulated and has adopted a new Disaster Porn Opinion.

    You know what they say about opinions, trust me, David Stockman’s isn’t worth paying for.

  46. Kip

    Greg,
    As a journalist you are hurting your own credibility by having on this globalist schill. Do some research on his background

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