Inflation Has Run Amok – Danielle DiMartino Booth

By Greg Hunter’s USAWatchdog.com

Former Fed insider Danielle DiMartino Booth is sure the Fed is going to raise interest rates again at the September meeting. Why? DiMartino Booth explains, “I think he’s (Jerome Powell) the most independent Fed Chair in the past 30 years, and I think he’s going to raise rates regardless of what is happening in politics. . . . You don’t kowtow to political pressure when you need to do right by the economy. . . . Powell thinks the inflation numbers are under-reported. He’s listening to companies saying their profit margins are being squeezed . . . non-labor costs are outpacing labor costs by the greatest extent in three years, and what that tells you is inflation has run amok. . . . I think the Fed is going to continue to raise rates. . . . I think the markets have priced in the (September) rate hike by 90%. We may be looking forward to Jay Powell backing off come December. So, I am not really worried right now about a skyrocketing dollar.”

DiMartino Booth points out the biggest problem the world faces now is record global debt near $250 trillion “that few can conceive a workable solution.” Di Martino Booth says, “It really does keep me up at night because of the nature of debt. As we approach the 10 year anniversary of Lehman Brothers, the one takeaway that many have forgotten in the decade that has passed is that you don’t know where the true ticking time bomb is when there is an over-indebted problem. . . . When systemic risk is released, it cannot be contained by any higher authority and potentially be unleashed. The greatest peril of debt is we don’t know where the danger truly lies until something triggers it.”

Where could the next debt problem be? DiMartino Booth says, “There are trillions and trillions of dollars of leverage in this country that are not regulated by any entity and could cause problems in and of themselves. Can I rattle your memory with Angelo Mozilo and Countrywide? Again, a big company that was not regulated, and look at these problems, these subprime unregulated lenders caused way back when. If you want the parallel today, look at private equity and the trillions of dollars they control in our financial system where basically nobody is looking over them. The fox has taken over the hen house. That’s what keeps Jay Powell up at night, and that’s what keeps me up at night. . . . There is more leverage than in 2008. If you are gauging it on the fact that we used to have a $160 trillion to $170 trillion in global debt, and now we have $250 trillion in global debt, yes, things are worse. Things are definitely worse. ”

DiMartino Booth says the simple way to protect yourself is get out of debt. You can also do what the wealthy are doing. DiMartino Booth says, “I am no gold bug, but I can tell you gold is the ultimate hiding place. It is the ultimate place to hide when financial markets are disrupted because when financial markets are disrupted, all of them react in tandem. All of that hooey that you need to have a diversified portfolio, all of that falls apart with one exception, and that would be precious metals.”

Join Greg Hunter as he goes One-on-One with Danielle DiMartino Booth, the best-selling author of “Fed Up” and the founder of QuillIntelligence.com.

(This post talks about rising interest rates, record global debt, systemic risk and precious metals.)

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After the Interview:

DiMartino Booth predicts a recession in 2019. She points out that Wall Street is publicly forecasting a recession in 2020, but it is budgeting for a recession in 2019. There is free information, analysis and videos on QuillIntelligence.com. You can also become a subscriber by clicking here.

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Comments
  1. OutLookingIn

    The World Monetary Base – WMB

    Based on the past 45 years of data, when the WMB begins to contract, the world enters a dollar liquidity crisis, followed soon thereafter by recession. World trade is contracting as a consequence of the US dollar shortage in conjunction with higher rates.
    Emerging markets who are essentially commodity producers that borrowed in US dollars, are having a hard time. As are those who lent them those dollars and is mirrored in recent bank share prices.
    The Fed is walking a financial tightrope as it continues to tighten and raise rates. Risking an uncontrollable rise in the US dollar and consequent collapse of fixed exchange rate systems.
    A worldwide recession is imminently not only possible, but more likely probable with the next 6-8 months.

    • paul ...

      Eventually the world monetary base (WMB) will be forced to a gold standard … as Venezuela just had to do (beginning this September) … https://www.indiainfoline.com/article/news-top-story/venezuela-to-sell-certificates-backed-by-gold-ingots-to-pensioners-as-inflation-surges-118082800490_1.html

      • freebrezer

        Paul – Venezuela might back certificates with gold but that still does not ensure the trust issue – No trust no value … And what dumb sh$t really believes that this communist dictator will hold to his word? and Second, It might be backed but that does not mean a person can redeem. Though maybe California could invest some of their public pensions in to these?

    • John Kiesler

      Greg Peace and a great show! I had a hard time hearing you? Was your microphone close enough? Thanks

  2. D.L.

    It is fascinating to me, how only a couple of years ago, guest after guest attested to how the Fed couldn’t and wouldn’t ever be able to raise rates ever again. But, after a series of rate increases, the next rate increase is “A Lock!” It just goes to show you how complex financial markets can be! It reminds me of that saying, “Those who don’t read the newspaper are uninformed, but those who read the newspaper are mis-informed”. If only one could have the fortitude to never invest on the advice of an expert ). That said, I wouldn’t miss a broadcast, either! The best in the financial news business! Thank You, Greg!

    • Jallen

      Watchdogs and Greg,
      I posted may times THE FED IS COMPLELY ILLEGAL its charter expired in 2014.
      Therefore, the credit it issues is illegal!!!
      Wakeup Watchdogs, the Federal Reserve is a complete scam.
      On your dollar (Federal Reserve Note) it says ‘THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE’, All notes issued since 1914 are counterfeit because the Federal Reserves charter expired!!!
      Where are the Lawyers to sue the Government to banish the FEDERAL RESERVE.
      Watchdogs think of this ALL CREDIT THE FEDERAL RESERVE LENT TO AMERICA SINCE 2014 is bogus.
      DEAD FISH SMELL BETTER THAN THE FEDERAL RESERVE!!!
      IT IS HIGH TIME THE UNITED STATES TREASURY REPLACES THE FEDERAL RESERVE.
      GIVE AMERICA BACK TO AMERICANS and Throw the bankers in jail for their counterfeit money and credit.
      What say you Danielle DiMartino Booth?
      What say you Greg Mannarino?
      Whay say you Gina?
      What say you Jerry?
      What say you Waychdogs?

      Jallen

  3. Mark James

    Great Interview!

    Using Bankrate.com — I opened a CD with Synchrony bank at 2.65% for 13 months. I only did a few dollars ($2,000 min) — but I agree with Danielle DiMartino Booth on investing in cash. Besides paying off debt (owing your car / house), some gold & silver stacking, and preparing for the worst (prepping!)… if you have money, don’t keep it in a 0% interest account. There is return out there for CASH. Putting money in stocks and bonds is way too risky with the fake markets peaking every day. Of course, as Greg M told Greg H — even at return of 2.65% and inflation at 3.1% (assuming that is right, which we know inflation is much higher) — I am actually losing ground.

    Thanks Greg! You have a way of finding excellent guests.!!

    • Adam

      Mark, how safe is that method you described?

  4. Maria das Santos

    Thanks Mr Hunter and Ms DiMartino Booth,just OUCH!
    Some hidden in full view,
    https://www.zerohedge.com/news/2018-08-28/over-billion-frozen-investors-pull-money-multi-billion-fund-manager
    Not happy people at off shore GAM.
    As if the commies would hide ,
    https://www.zerohedge.com/news/2018-08-28/land-confiscations-loom-south-africa-rules-300000-gun-owners-turn-over-their
    as if that would not happen in the USA,well ;
    https://www.zerohedge.com/news/2018-08-28/atlas-mugged-elizabeth-warrens-plan-nationalize-corporations
    Just astounding.
    All happy signs that all is well or not!
    The EU is a fascist leaning but commie institution bent on destroying the individual and homogenising us all,as if!The Barnacles of elites frog march to the destruction of the currency and peoples’hard earned savings,meanwhile the smart are fleeing to the least rancid dog so far.So someone knows something.
    The economy here in the UK really sucks,and the foreign money actually believes it will be well protected as it buys land and houses,please don’t laugh,the imbecile chickens will be plucked soon.
    Meanwhile Israel frets about a nuclear war with a Muslim Europe,I kid you not,so London,Paris,Rome and Berlin have been added to the targets of Israeli IBM nuclear warheads.It all seemed so swimmingly until recently!

  5. Peter from the Netherlands

    Dear Greg,

    This is why I want to warn you:

    The cycles expert said a month ago that gold was headed much higher, but now, Charles says gold is headed much, much lower. Here are the details…

    Charles Nenner told Greg Hunter barely a month ago that gold was setting-up to really move higher in price.

    • Frederick

      The “ cycles” expert You mean Nenner right?

      • This Sceptred Isle

        Though you would think Peter would have more loyalty towards his compatriot…just as I have for Tony bLIAR.

        • Greg Hunter

          TSI,
          Yes, your man is Corbyn. The Jew hating Islamic terrorist loving UK politician that is going to make everything better in the UK by giving you more of what Sadiq Kahn has delivered in London. What a bright shinny future you all have if you get the man elected. Sharia law for everyone!!! yeah!!!!!
          Greg

  6. Anthony Australia

    Nice on Greg, many thanks.
    I term inflation the silent killer; my colleagues and family never come to terms with it, only complain that we are getting ripped off.
    Whinging is a cultural thing here in Australia and the crunch is really starting to kick in, plus we haven’t had a stable Government for a decade.

  7. Loren

    Thank you again, Greg. You knocked another interview out of the park. No one else digs for the truth, has such interesting guests, actually lets them talk, and does such detailed interviews as you do. Keep up the good work.

    • susan

      Greg, it feels so good to hear such an intelligent and informed person without an agenda. She is amazing and I must listen to her much more. I feel a little better about the fed now and have some hope for the future. Also, I’m ultra-prepared. I have discussed my position with Bill Holter and feel confident. He is a wonderful person.

  8. NH Watcher

    I appreciate her emphasis on getting out of debt. Some people spend too much time in an endless cycle of “debt is unfair; debt is inevitable,” and waste time ignoring it. Or get wrapped up in the delusion that a future reset will be coupled with debt forgiveness. And so they get into even more debt, which fits her funny comment, “Pigs get fat; hogs get slaughtered.”

    Even if you can’t buy gold, can’t store food, etc., you can still get out of debt as much as possible and not assume more debt. It can be as simple as that. When sources of income drop, at least your bills will be at a minimum. If you cannot even pay one month’s expenses without credit, you will not survive more than six weeks of the next collapse.

    I continue to worry more about the short term of the next collapse than the long term. Survival will be counted for the majority in weeks and months, not years.

  9. AndrewB

    Hi Greg,
    I have a question about the ‘extra $21tr’ which ‘disappeared’ from the DOD and HUD. You refer to this ‘missing’ money as, “Additional debt”, but I wonder is this a correct deduction. Not that I am doubting Prof. Skidmore’s analysis – just whether the missing money should be described as ‘debt’. The missing funds were allocated to these departments in the budget/s. The money was paid to them – but somehow, each and every year, their accounts showed balances unaccounted for. This amounted to more than just a few percent p.a. – something Skidmore’ picked up on. Over the years of his study, using only the departments’ own figures (since ‘disappeared’ on government web sites) uncovered $21tr. of missing funds. Is this correct, so far? If so, then I ask, why is the missing money a ‘debt’? It was paid to the departments out of government budgets – and no doubt added to the National debt at the time it was paid. But once allocated, Skidmore’s research would indicate it has been stollen. As such, it is potentially an asset, not a debt, which can be utilised to diminish the National debt if it is ever recovered. What say you?

    If I am correct, that these missing funds are a (potential) national asset, rather than a liability, this brings into sharp focus President Trump’s Executive Order of 21st December, 2017, which enables the forfeiture of proceeds of corruption, should the funds ever be located. As things stand, this eventuality could transform the finances of the Country – and Skidmore’s analysis only covered two departments! How much more has been stollen – and is Trump on a mission to recover it? Me thinks, yes. Just one more reason the ‘swamp’ is out to crush him.

  10. Freddie the unintelligence agents Freeloader

    Do you guys remember last year it was found out our members of congress, our fake representatives who hide behind your plausible deniability scam. Doled out more than 15 million dollars of our tax money to their sex workers? They gave you shadow Maddow fat cats our representation too, taking it from us we the sheeple. We who voted them in. Why do you scoundrels think we fought and won the revolution with the British empire? Remember that little ditty, taxation without representation. You want us to not pay our taxes? You’ll really be up a creek, without a board of education! You guys think you have congress by the you know whats don’t you. You let guys like James Foley and Seth Rich die so as not to spill the beans. Take a listen Gina/Treadhead!
    https://www.youtube.com/watch?v=-pe1vktyUWA
    Are you gonna shut him down now like you knocked Greg out a few times? Like Jack said, you challenged cant handle the truth let alone a security clearance, Clarence! You all, are the national security threat, not us. Your not even supposed to be spying on us, were Americans not Russkies you Idiots! Why don’t you guy’s get a real job an save your country, by saving us gob’s of money!

    Grey is the new black: covert action and implausible deniability
    Rory Cormac Richard J. Aldrich
    International Affairs, Volume 94, Issue 3, 1 May 2018, Pages 477–494, https://doi.org/10.1093/ia/iiy067
    Published: 01 May 2018
    https://academic.oup.com/ia/article/94/3/477/4992414

  11. Paul Blackhurst

    DiMartino Booth is one of your better guests. She speaks clearly and directly. She danced around the missing money question though. This indicates to me that this is a big secret that is not a secret amongst insiders that no one wants to talk about. Kind of like steroid use in the NFL Please get Craig Hemke and Michael Pento back on soon. They both speak clearly and directly as well.

    • SamAdamsGhost

      Ive read the guest’s book. She seems like a nice person, but IMO she tends to buy the conventional con story from the Fed a bit too much. When she said the current Fed chairman is independent and is only interested in ‘serving the country ‘ I just about gagged. No, he works for the banking cartel that owns the Fed and uses it to advance their private interests. (Greenspan himself said the Fed answers to no one but themselves .) The rise in prices that is starting to be recognized isn’t due to an overheated economy. It is due to the Fed’s money printing – – to bail out themselves.

      The Fed chair will act in the interest of the banks. They have never done otherwise in their century of existence.

      • AndrewB

        SamAdamsGhost
        Totally agree – well said!
        I keep hearing, ad nauseam, – even in the ‘alt media- predictions about how the FED will do this or that to, ‘bring the economy, interest rates, employment, etc., etc., ‘ back on course. Piffle! The FED is a confection of the criminal family banking dynasties, and their only priority – per your post – is to serve their own interests.

        Best book on the FED by far, ‘The Creature From Jekyll Island’ by G Edward Griffin.

        • SamAdamsGhost

          The central bank cartels have purposely started economic depressions in the past. Just read about the ‘Bank War’ waged by President Andrew Jackson against the 2nd Bank of the United States. When Jackson refused to extend the bank charter, they severely restricted credit and caused a severe economic downturn. Of course, they claimed to ‘serve the country’ back then too.
          IMO they will use the same tactics now. Thankfully, it is said that President Trump has a portrait of Andrew Jackson prominently displayed in the White House. So he is aware of this history.

  12. david

    America used the knowledge of Germany after the war in rocket technology, chemistry and nuclear physics. What has changed now other nations use America’s technology.

    David Australia

  13. Jerry

    Greg,
    What is the definition of insanity?
    http://www.tcmb.gov.tr/wps/wcm/connect/en/tcmb+en/main+menu/announcements/press+releases/2018/ano2018-34

    Is it not doing the same thing over and over again expecting a different result? As the lira crashes the central banks have doubled down on their lending. Talk about desperation? This action of pounding more worthless currency down a financial rathole, in my opinion will speed up the global currency collapse. So much so that the silver market was once again monkey hammered by the central banks on Monday. The central banks can manipulate the markets all they want, but they cannot stop the momentum of the global currency collapse that is currently underway. When Turkey goes down it will take Deutsche Bank with it, since Deutsche Bank is carrying so much of Turkey’s debt. And then?

  14. Herr Roberta Mueller

    Deep State vs. Trump – Die Masken Fallen – Peter Denk bei SteinZeit
    https://www.youtube.com/watch?v=94AH02utxsI

  15. ConcAmDad

    Correct me if I’m wrong but didn’t Powell leave rates unchanged the last time around this song and dance. How does the fed have any credibility whatsoever at this point. How many rate hikes did Yellen promise over the years?

  16. Da Yooper

    Good interview Greg

    Greg is there any way you can fix your audio ?.Your audio level sounds to be about 1/3 lower than who ever you have on as a guest.

  17. Matt Jaymes

    Danielle DiMartino Booth in certain respects, reminds me of Jim Rickards: very knowledgeable, articulate, exceedingly bright but leaving me wholly nonplussed as to their authenticity. Consider: Danielle doesn’t think a stronger dollar will impair/implode EM countries. Misters Holter & Sinclair (and others) declare that it has already happened, and that the contagion will spread. She claims that there’s nothing wrong with holding short term paper @ 2.00%. If John Williams at Shadow Stats is correct and inflation is running @ 6%-7%, then locking up my money at 2% nets me with a 4 to 5 percent loss. Pass, thank you.

    What EVG and PCR have illuminated for quite some time now, is that since the Fed’s inception, the USD has lost 97% of it’s purchasing power, and yet Ms. DiMartino Booth is not a gold bug! Why, for heavens sake?? Is it because her former employer deliberately and with malice of forethought debauched, diluted and polluted the currency?

    I guess this begs the question: you can take the woman out of the Fed, but can you take the Fed out of the woman?

    Greg: Great work, differing points of view is what makes a horse race, or a market.

    Danielle: Choose a side and stand your ground. If you think the Fed is an evil, malicious, nonredeemable entity (like I do) – say it. If the contrary opinion is the one you hold – say it.

    It’s been a while since we’ve heard from Ms. Austin Fitts {hint, hint}

    TC – Matt

    • arthur barnes

      Matt, she talks out of both sides of her mouth, but my impression is that she is a Creature From Jekyll Island born and bread follower. A fiat loving brainwashed gold is not money Bernanke follower. As to her new beloved FED Chairman appointed by Trump, just another born with a silver spoon Washington D.C. insider, nothing more, nothing less; lawyer banker with pedigree. Never left the city limits of D.C., never will unless the SHTF and then off to safety. Greg, yes she is articulate, yes she is informed & educated, but all in all she is just part & parcel of the dark deep swamp we are all trying to drain. Abolish the FED!

      • AndrewB

        Matt Jaymes & Arthur Barnes
        Well said. An ever greater number of people are recognising shills – learning to separate the wheat from the chaff. Knowledge of the formation and secret function of the (privately owned) FED is coming more and more into public awareness. Let’s hope that Trump’s overt placing of a portrait of Andrew Jackson in the Oval Office portends the demise of the FED (add to that, all privately owned (national) Central Banks, the IMF and BIS – scammers and skimmers all).

        Best, and most entertaining, good read on the FED, The Creature From Jekyll Island’ by G Edward Griffin.

        • SamAdamsGhost

          For those less inclined to read a longer book, they might read ‘Dishonest Money: The Road to Ruin” by Joseph Plummer. It summarizes G. Edward Griffin’s book and is endorsed by him. It also makes a good gift for family & friends

  18. Tad

    After listening to her Hong Kong comments, its port facilities would fall prey to a potential and numerous, US missile attacks.

  19. Roger D

    The Fed doesn’t give a rat’s patootie about the US or our economy. Once the plunder of our middle class is complete it will have served its purpose. Globalists will let it self-destruct to make way for their Bank of International Settlements.

    Secondly, this old coot smells war(s) for the bankers. Trump is in the pockets of bankers (and Netanyahu). He could be easily used to wage war against Syria and Iran for a few more big pay days for the military-industrial-security complex. Who will resist? When was the last time anyone here cried out for peace? Nope. Quite the contrary. And Christians outraged? Nope. Wars are distracting, even entertaining to blood-thirsty Neo-cons. Presidents have a history of using the US military to provide distraction away from their problems at home. MAGA! Bombs away! As America bleeds itself out.

    • arthur barnes

      Hey Rodger D. “The Fed doesn’t give a rat’s patootie about the US or our economy. Once the plunder of our middle class is complete it will have served its purpose”. Couldn’t have said it better myself, astute. I can only add that the demise of the middle class is near complete, won’t take much longer to accomplish the rest turning them into the working poor as well.

  20. Jamie F Savoie

    The $21 Trillion is in the Exchange Stabilization Fund, but it is lower now. The ESF has been buying the 10 and 30-year Treasury Bonds to keep the recession at bay.

  21. Tad

    I doubt the Fed will raise rates. What we have is an implied rate hike the market is accounting for. If we had a rate hike on the given day, then all hell might break loose. This is a kinder, gentler method of accomplishing “deflation.”

    Non-labor costs exceeding labor cost means commodities, in general, are on a tear. We don’t see that in precious metals, but that is a manipulated (spot prices) market. Government studies don’t interview businesses and individuals who may be hoarding them. Strictly production-oriented concerns.

  22. Gerald Jones

    “Unless he wants to serve his country”—– Are you serious? Give me a break….This woman is an establishment hack…..No Fed chairman every does anything to serve the country only to serve the central bankers!!!!!!!!
    Greg this interview is below your standard

    • Frederick

      Gerald Jones Totally agree The FED chairman is nothing but a figurehead serving his masters If anything they create crisis after crisis in order to fleece the little guy

    • arthur barnes

      Gerald, agreed, the value and intelligence of this audience is amazing. Thank you for your insight & blogging it here for us to chew upon.

    • Colin - 'the farmer from NZ'

      Gerald…sadly you are a voice in the wilderness!

      The Fed is owned by a cartel of thieving private banks…they don’t give a flying f%%k about the US economy or Mainstreet…99% of the US population cannot grasp this simple fact, let alone understand the implications.

      Hence the reason I don’t bother to comment on USWD anymore… [oops just did].
      The infantile blissful ignorance is completely beyond help…it will take the complete breakdown of the US economy before anything is done…as I have stated until I am blue in the face, the US will continue to degenerate financially and socially until this private ownership CB model is completely dismembered.

      Cheers
      Col

      • arthur barnes

        Colin, unfortunately I believe you are right that “it will take the complete breakdown of the US economy before anything is done”. Always enjoy
        your post. a b

        • Greg Hunter

          Arthur,
          May be when this whole thing breaks up New Zealand will get rid of the theft of socialism too!!.
          Greg

          • Colin - 'the farmer from NZ'

            Greg
            And your infantile responses to anyone who challenges your narrative reminds me of the other reason I don’t comment here anymore.

            As a religious fundamentalist, you have to a degree been recruited by TPTB and yet you are too thick to realize it. Your continual childish accusation that anyone not crawling up your arse with praise of you [or Trump for that matter] is by definition “socialists/Marxists” has become extremely tedious and predictable.

            The fact that you cuddle up to raving neocons like Robert and G500 clearly shows a very naive and 0pp0rtunistic side to your character.

            • Greg Hunter

              Colin,
              But you are a socialist and a Marxist and an atheist. Those are all facts and when you are confronted with the truth you have to try destroy you opponent with insults and slurs because you do not really have any ideas or an argument that doesn’t center around the theft of socialism and Marxism. Thus, you use words such as “infantile, religious fundamentalism, childish and raving neocons.” Not one single good argument or idea there. So “Sharon” this is not really a good platform for you push your communism/socialism/Marxism. We love freedom, inalienable rights and God the Father and some JESUS and Holy Spirit too!!! WEEEEEEEEEEEEEEEE
              Greg

              • sk

                Check out what Ellen Brown has to say. She is no socialist/communist. Dunno about ‘atheist’.

        • Colin - 'the farmer from NZ'

          Cheers to you too Arthur!

      • Frederick

        Hey Colin Nice to see you here mate You’re absolutely spot on and we miss your commentary friend All the best from Turkey

      • Greg Hunter

        TSI,
        You are only missed by the other socialists/Marxists here.
        Greg

        • Shadow of Doubt

          To The Three Amigos,
          I love the selective outrage from the “faded empires” and those significant points world-wide that have all the answers for America’s ills. Thankfully, I don’t have to listen to PM Theresa May do her impersonation of Neville Chamberlain in South Africa and think wow do these countries and politicians have it together (sarcasm)!!! SOD

      • Mark Maples

        Colin,

        I think you are selling us short “US public “ in regards to how we feel about the state of our nation on a number of levels.

        Bernie Sanders and President Trump are exhibits A and B. People voted for them en masse out of frustration for the same old same old.

        However, as a former US Marine and state of Georgia LEO, what exactly is the rank and file American supposed to do?

        This isn’t 1776, the US has the worlds largest military and is occupied by a para military police force.

        If I have a family and try to stir up revolt I will get shoved in a cage and nobody will care. The reality is as long as the lights come on and people can eat, fringe revolt and frustration is as far as it goes.

        Are New Zealanders trying to overthrow their government right now since it’s more or less a puppet regime that will do whatever the United States wants it to do.

        This is my issue with foreigners calling out US citizens as if we like the slow degradation of our middle class lifestyle, or pretty much calling us gutless.

        I don’t see Europe revolting, I don’t see the Aussies and New Zealanders revolting because all of their governments play step and fetch for Uncle Sam.

        Things haven’t been reduced to the point where we have nothing to lose, but the elites are psychopaths so it will happen because they can’t stop themselves from screwing over rank and file Americans

  23. Robert S.

    Fantastic Interview Greg…

    It is so much easier for everyone not to dare think or ponder the consequences of the 21 trillion of fraudulently created dollars hiding in the dark pools. It didn’t happen because the links to the data are gone now…poof. Inter-day bank lending data also removed per Lanette Zang as well. Nothing to see here. Keep the illusion real as you friend Gregory says. And like magic, the 10 year isn’t allowed to surpass 3%. It is all a grand illusion now.

  24. Thomas Blow

    Missing from this interview is acknowledging the objective. Booth mentions “the economy chugging along”. Is that the objective? At what cost? If the new Fed chairman is ignoring politics, then what is his objective.
    What we have found is when anyone has the ability to manipulate things using public or private funds, there is corruption. The only moral path is to dismantle manipulation. Saying otherwise means the public relies on manipulation for their well being.
    Manipulation of markets is a cost. This cost, in a republic, should be openly funded. The government should start saying, here is what we have to have to keep us free. We need railroads, highways, beef, oil, flour, credit for the supply chain, etc. This list essentially should reflect our needs if no other nation traded with us. We also need to protect our shipping lanes to a certain degree as isolationism has risks. That is the extent to which the Federal Government should be focused.
    Manipulation is a cost because it distorts price which causes inefficient production. It should be minimized and be a budget item.
    If you have a distorted price, it is a leak in the economy. Someone is making up the difference. It means currently either a trade imbalance or inflation via money printing and characterizes an unsustainable system.
    This interview kept saying no one knows how to fix this. The solution is to put the system into receivership as it is bankrupt. This bankruptcy depends on:
    1. Public disclosure.
    2. Asset forfeiture.
    3. Debt jubilee. (We have reached the Monopoly end game in which very few control practically all the wealth. Luckily they are very largely engaged in bad actions and their assets can be taken. However this will result in a potentially dangerous period of the Government owning the means of production.)
    4. Collateral accounts.
    5. Physical assets backing currency (sound money).
    6. The dominance of moral fiber over piracy (ref. “The philosophy of Liberty at kenschoolland.net, who would be a great interview for you).
    7. The neutralization of bad actors. In progress.
    8. Reform so all this can’t recur. So far I have not found anyone willing to catalog proposed reforms and provide a public forum…I suspect because reforms always stem from out of the box thinking. It would probably take someone as clever as Scott Adams to manage this.

    • arthur barnes

      Thomas, her statement that the FED Chairman doesn’t play politics was a little too much to swallow in my mind. What is reality is that the new FED Chairman postures like he doesn’t & should be nominated for an acting award. This new Chairman that she so highly regards is simply and D.C. insider, with money behind him from the start, nothing more, nothing less. He also, like all the rest is a old fashion foreclose upon the poor at Christmas Eve tried and true banker. Abolish the FED!

  25. mal

    “What do you do with 250 trillion?” …That’s easy Danielle. I’d buy a new truck!

    • arthur barnes

      Yea, when the FED gets done with our money that what a truck will cost, $50,000 is not uncommon today, how about that for managing the dollar bill since 1913.

      • Jodyp

        Just buy a used truck. Take the rest and pick up a loaf of bread on the way home.

  26. flattop

    GREG: Wow
    Sinclair and Holter, and now DiMartino. You are awesome to the max
    We are very privileged to have free access to your site.
    USA Watchdog is one place where we get the truth. Thank you

  27. Russ

    Thanks Greg. Good interview, but in all fairness, I like it because there’s lots of confirmation bias with the person typing on my keyboard. I like it when I hear smart people like Danielle DiMartino Booth talk about being debt-free. I consider my self-suppressed standard of living worthwhile.

    We really don’t know how this will end. PM’s are something of a panacea in theory, until the SHTF and society breaks down. At that point all bets are off, but it’s better to have that to not have.

    Being debt free comes first… or you could be like Chicago and sell bonds to invest in the stock market — https://www.zerohedge.com/news/2018-08-28/chicago-cfos-stupendously-bad-timing-her-last-pension-obligation-bond

    • Greg Hunter

      Thanks Russ and just because it’s the right thing to do does not make your bias bad.
      Greg

  28. Mike

    Quote:Powell thinks the inflation numbers are under-reported. He’s listening to companies saying their profit margins are being squeezed . . . non-labor costs are outpacing labor costs by the greatest extent in three years, and what that tells you is inflation has run amok. . . . I think the Fed is going to continue to raise rates. . . . I think the markets have priced in the (September) rate hike by 90%. We may be looking forward to Jay Powell backing off come December.
    My Perspective- the interest rates rising are creating the margin squeeze for companies. The point of entrapping companies with debt at low rates is raising interest on them is to force consumer price inflation. The result is stagflation as companies will be claiming poverty to the employees while jacking up the price of their goods to pay off increased loan costs until workers become fed up with cost of living expenses and fight for pay raises which just compounds the consumer price inflation. Think 1970s on steroids coming

  29. Diane

    Very good report!
    I liked her comment about where all her money is invested…..3 month TBills.

  30. Gregory Mannarino

    One of your best interviews yet! Very smart lady.

    • Diane

      Agree, Mannarino.

    • Donald

      I listened to it and while interesting, is essentially a moot point at this time other than for the short term day to day traders. Over the next 2 to 8 months (or less?) it would seem major developments are going to unfold with respect to those who so far have controlled the system. Their desperation at this point in time is quite stunning as evidenced in the news. When this is all over, there will be no more privately owned central banks and much of the disgusting cabal that is running things will be taken out. Everything will change in a big way. Perhaps Amazon stock will reset to a more appropriate level of 5% (or less) its current value? Along with Google, Facebook and others?

  31. Thomas Blow

    Out of the box thinking: Can you imagine:
    1. Jim Willie as Secretary of the Treasury
    2. An effective purge of Socialists from Education and the Media run by someone named McCarthy
    3. Media rules that prevent interference with the execution of sealed indictments
    4. A gold backed currency and a gold rush in the US
    5. The criminalization of espousing Socialism
    6. The firing of all SES
    7. Requiring all citizens to pass a citizenship test (like the drivers test) before they can vote
    8. Criminalizing the use of secret spending in Government
    9. Requiring all news or opinion shows to be funded a la carte
    10. Enforcing Hollywood and TV standards similar to those in the 50s including specifically themes and morality
    11. National messages to the public encouraging saving and earning instead of spending and borrowing, and judging people by their characterised of status symbols, and their health instead of their cosmetics or clothes

    Why aren’t we talking about this NOW.

    • Roger D

      Thomas, save your ideas for the future. We are witnessing the last stages in the collapse of Lincoln’s highly centralized, supreme and tyrannical federal government.

      Hope lies in the breakup of what was once a country. You want to think ‘outside the box’? THINK new borders on States with a capital ‘S’ again. Think Articles of Confederation. Scrap the US Constitution which created the federal government monster. Ridiculous you say? Tell that to Patrick Henry who walked out of the constitutional convention in protest of forming a federal government.

      PREPARE accordingly. Let the evil cities devour themselves. Good ridden. Think about where you want your loved ones to be when the breakup happens, an ‘Estonia’ or a ‘Tajikistan’. Then move there now!

      • Clare Doll

        Roger D,
        The US Constitution is a framework for the restriction of government power. It is our government that has maneuvered out from under and so diluted the intent and purpose of this wonderful document.

    • Angelo

      Mr. Blow,

      These are all great ideas. This would be utopia to those who have common sense but the world is being run by those bullies in the playground. But the kids around them are too busy looking at their blue-lit screens and social media culture (I am guilty of this too).

      When will we be convinced that the authority placed on us is not to our benefit but to themselves. Wait until you see the 5G towers go up to a lamp post near you, then we will see even more apathy among the brainwashed populace thinking that this is about partisan politics, race, gender, PC, gun control and all other issues that divide us. WAKE UP EVERYONE!

      Angelo

  32. Grett Smart

    Very interesting… but very Stuupid!
    https://www.youtube.com/watch?v=Pe371R-_5g8

  33. andyb

    I think it is quite remarkable that DDB feels that Powell is an independent good guy when he is head of one of the greatest criminal organization that ever existed. She is obviously a very knowledgeable insider. I wonder if she feels that Powell is being set up to take the fall when the SHTF.

    I also find it odd that she thinks that 3rd Qtr GDP will be positive even though she is aware that the inflation effect on GDP indicates a negative number, not a positive one. The truth is that, over the last decade, we have had annual 7-8% inflation (Shadowstats) or 7-10%+(Chapwood Index).

    • Frederick

      Now now Andy Don’t want to upset the sheeple with facts like that

    • AndrewB

      andyb
      You’ve ‘stolen,’ my moniker, but never mind – our opinions appear to coincide.
      Well said!

  34. Freddie the unintelligence agents Freeloader

    They were smokejumpers when the CIA sent them to Laos. They came back in caskets.
    By Ian Shapira
    https://www.washingtonpost.com/news/retropolis/wp/2017/06/18/they-were-smokejumpers-when-the-cia-sent-them-to-laos-they-came-back-in-caskets/?utm_term=.a586f7d27b48
    They were also deniable. … 10) o
    Operatives get the shaft in this man’s service. Got to protect the agents and cowards in our midst! Yet they think there better than him, They can say what they want about him, yet they cant call him what they are. Like in their dreams their nakedness will be for all to see, to their em bare ass ment, They’ll get their’s, soon enough. Just keep it up long enough, yellow bellies!

  35. DerStan

    Being out of debt and owning a small less costly property is important. One that you can garden on or have chickens is even better. Less costly because property taxes are going up and you don’t want to lose your home to the tax man. Since most property tax is based on value a small less costly property will be easier to hold on to. Gold is good but long term food storage is better. If you are starving you will give everything you have to eat. In the immediate aftermath of a collapse owning physical Gold could be illegal. Anybody caught with gold bullion will be imprisoned or worse. Gold holders will be blamed by the masses as the cause of their troubles. After the collapse and several years Gold that you “found” buried in your back yard will be worth a sizable fortune.

  36. Lake M

    Greg,

    Great guest…Good discussion. Real appreciate your work.

    By the way, an update on your recent guest, Mr Charles Nenner. He has done a 180 deg. flip flop on gold and now says it may go as low as 850. He says bonds look profitable and he sees little inflation. HUH ? A fricking Ferrari just sold yesterday for $50 million dollars. A prima facia case of asset inflation enabled by fake money creation by the FED.

    During your last interview, Nenner had a positive outlook of gold post summer. Several Watchdogs have expressed reservations about his prognostications over the last couple of years of interviews.

    Here’s the reference to his interview if anyone is interested. https://www.silverdoctors.com/gold/gold-news/charles-nenner-flips-gold-is-headed-much-lower-spoiler-alert-price-could-crash-to-850/

    Nobody really knows what will happen until after it happens. A few get it right ahead of of time, and some get it soon after. Some it takes a while and the majority will remain in ignorance and confusion. We must continue to seek the truth to the best of our ability,
    as it a battle for personal freedom and rule of law, without corruption and tyranny.
    Thanks Greg for fighting for the truth.

  37. Barn Cat

    You don’t get to be the head of the Federal Reserve by caring about America. The Federal Reserve is a globalist organization.

    • H. Craig Bradley

      THE TRUMP RESPITE

      The Federal Reserve has morphed into what it is today largely as a result of the actions or changes initiated over the decades by past Presidents and the U.S. Congress (Reference: Martin A Armstrong Blog). So, WE did it. Not “they” or the “Globalists” or even the Boogie Man.

      Globalists are prominent Americans as the global monetary system is still U.S. Dollar- based and most of the largest international banks are still American and based in New York City. Our military is posted in 130 separate countries globally and Hollywood exports their movies globally to those countries that allow it.

      Even the XXX Porn Industry is dominated by the United States and we are currently the largest producer and exporter of XXX Films in the World ( again Globally). No one is even a close second, for now. America is still #1, but if we keep it up, then for how much longer ? My guess is for many more years.

      The dollar will rise as the rest of the world caves-in first, but a super strong dollar will be a root cause of the next Global Financial Crisis, as foreign debt markets default in-mass ( Economist Martin A. Armstrong ). Then after Europe and Japan first bite the dust, then lastly will the U.S. financial system begin to implode.

      A global financial or currency reset may then occur at the end of the process. We have awhile yet. The precursors have yet to be completed. The FED knows this well and is only going to slowly raise interest rates or “Normalize”. So, the FED is in no big hurry to end their global dominance. My guess is we still have a good ten or twelve more years. Enjoy the Trump Respite !!

  38. arthur barnes

    Greg, the only thing she said of any value was to get out of debt as much as you can. Surly, that sound advise goes against her fiat loving indoctrination so maybe there is hope for her after all. Always good to hear the opposite of the coin though so keep’em coming.

    • H. Craig Bradley

      THE IMMACULATE DELEVERAGING

      It has always been a wise practice for individuals to avoid unnecessary debts or non-producing consumer debt. Nations that do so are blessed as creditor nations. Those that do not (debtors) eventually decline as the burden of ever higher interest payments forces them to first cut back (austerity) and/or attempt to inflate their debts away with ever cheaper dollars ( The U.S. and most nations historically).

  39. Donald

    “the world faces now is record global debt near $250 trillion “that few can conceive a workable solution.””

    No problem! I can pay it off easily. I have over $300 trillion Zimbabwe dollars which can take out the entire world’s debt with plenty left over to burn…..

  40. William Stanley

    Mr. Hunter: Thanks for interviewing Ms. DiMartino Booth. I’d comment further, but your comments section has so many great posts, that I would deface it just telling everyone “great post!”

  41. rob

    Not on topic comment. But important terminology to not Greg….just as presstitutes exit, so too do Bio-stitutes. Bio-stitutes are academics and or academic institutions that are for hire publishing support for whatever money and power wants to buy.reference RT on Monsanto weed killer cherios.

  42. Dave

    DiMartino and Rickards are almost certainly both controlled opposition insiders. Not sure why anyone would trust what they say, much less give them airtime to spread their disinformation. Seems like a much better idea would be to interview an independent analyst such as Brandon Smith (alt-market.com) or James Perloff (JamesPerloff.com) or James Corbett (CorbettReport.com) in order to get the input of smart, informed and truthful people who are not already compromised by the dark side. Thanks Greg!

    • Greg Hunter

      Dave,
      I booked a best-selling author that was the right hand person of former Dallas Fed President Richard Fisher. Before he retired he blurted out on CNBC that the Fed “injected the financial markets with cocaine and heroin.” The people you mentioned are very good, but so is DiMartino Booth.
      Greg

  43. paul ...

    The U.S. Geological Society says that silver would be the first element in the periodic table that will become extinct … this is incredibly bullish … so when DiMartino Booth says: “I am no gold bug, but I can tell you gold is the ultimate hiding place” … perhaps she should modify that statement to “silver being the ultimate hiding place” … if silver goes extinct in the next decade or two it will likely sell for even more then the price of gold … Jim Sinclair just predicted gold is going to $173,000 dollars per ounce … and I calculated a price for silver (based upon a gold silver ratio of 5) that it will go to $34,600 dollars per ounce … but based upon both Sinclair’s gold prediction and the USGS “extinction prediction” for silver … I need to modify my calculation: “the price of a one ounce silver coin will likely rise to $173,000 dollars” … so anyone who ever dreamed of becoming a millionaire should immediately go down to their local coin shop and buy six(6) one ounce silver coins and bury them in your back yard for safe keeping!!

    • Lily Girl

      Old citations. I don’t know what WILL happen, but I don’t think “this” is “It.” Just my humble opinion.

  44. John f

    She said that you were talking out of her wheelhouse” Right now Jim Carrey and I are SOOOOOOOOO JEALOUS!

  45. Tony dB

    Greg, please fire your audio technician. The audio level of your voice should be set much louder while the opposite must be done for the other party.

    • Greg Hunter

      Tony,
      That would be me as I do the site by myself. I am fixing it but I am so sorry this free site is not up top your high standards. https://usawatchdog.com/donations/
      Greg

      • AndrewB

        Greg,
        “That would be me . . .” Your best, and most humorous response to date!

  46. Jerry

    This is it. We are about to find out just how much strength the petrodollar has left in it.
    https://www.reuters.com/article/us-china-oil-futures-delivery-exclusive/exclusive-five-companies-to-deliver-oil-through-shanghai-crude-futures-contract-for-september-sources-idUSKCN1LE0W0?rpc=401&

    If the Saudi’s bolt it’s game over. Rumor is ARAMCO has worked a deal with China. September will be a month to remember.

  47. Mike R

    To protect one’s future, rather than monetary aspects, be it US t-bills, dollars, stocks, art, land, any currency, etc, focus on making your ‘deposits’ in other people, and developing ‘connections’ at every level you can. Those ‘deposits’ are being of service to others, helping them when they are in need, and going above and beyond what is expected. People will always remember how you helped them. Eventually when the SHTF, it will be people who help you, and help determine whether you survive. It will be those who themselves are ‘connected’. Who themselves helped others, and so on. You never know who’s ones connections are, and therefore being of service to many others, you increase your own odds of survival when times get rough. In fact, your help may come from someone who you least expect. It may come from someone who you may feel, never noticed you. But they did, and they do notice. They notice people who have character, who do the right thing. Who treated them respectfully, perhaps when it might have been even undeserved. My goal has always been to strive to help others, be of service with the tools, skillsets, and God given strengths that somehow manifested in my being. There is never any guarantee you will ever get back anything in return in being of service this way, and its important not to ever have that expectation, but in my own humble experience in my relatively short 56 years on this planet, it is always better to be of service, than to think about what someone may be doing for oneself, or what can be gained by associating with another person. Does someone have to be my friend for me to help them ? Of course not. All of mankind is who I will help when the opportunity presents itself. Everyday, every minute is that opportunity. Its called the gift of life. Personally, I think that approach is what will help you survive and perhaps prosper for the longer term, moreso than any monetary gains/assets you can accumulate or debt you can avoid.

    • FC

      Mark R, it must be the birth year of 1962 as I think exactly the same way. I have been blessed living on my own rural property with every type of construction machinery from being able to excavate out a side of a hill to lifting steel beams up 60 feet in the air and I have told my neighbors if they ever need anything done just call me and they do and of cause free of charge.
      All of them are very grateful and I know they would help me if I needed help but for some strange reason I value their feeling of appreciation over monetary reward………..it helps me sleep better at night.

    • Diane

      Another thoughtful post by Mike R.
      Thanks, friend

  48. Linda

    General Flynn said our economy was in deep deep trouble in this interview but the big mind blower in this interview, which was done just before the election that changed everything, or lots of things so far, with Donald Trump becoming president, is the fact that Flynn says Hillary Clinton let China read emails!!!!!! Not hacked, “let”. This is a great interview.

    https://www.youtube.com/watch?v=kdVuTAyc_jo&t=279s

    Linda

  49. arthur barnes

    Greg, I wish I could help you with your tech issues but presently I am too busy prepping (LOL) &, of course, I don’t know squat about it in the first place. Having said that, I don’t give a good dog crap on the lawn if your sound isn’t perfect as long as the content & message is there.

    One more time this post: ABOLISH THE FED! You know Greg if the America people knew our dollar has inflated 97 percent since the bankers started controlling it in 1913 maybe my flag to Abolish The Fed would take hold old there. Folks, the FED is one and the same who is turning the middle class of this country into the working poor. Pass the word around please. a b

  50. Angelo

    Greg,

    What a refreshing guest to listen to! Great interview Greg! It was particularly refreshing to hear that she does not consider herself a political person. IMHO this should be the best approach because while we see glimpses of hope in some areas of our lives, there are issues in the background that would have a far sinister impact to us that we don’t pay attention to.

    Just ask Dane Wiggington and Debra Tavares.

  51. Country Codger

    Great interview, Greg. Seemed like your volume was low. All I can say about the content is: Hhhhmmmmm.
    It will take a while to digest it fully.
    Lo Iyrah!
    Shalom,
    CC

  52. mj orlando

    Alas! A Woman of Brotherhood that totally gets it and releases her Intellectual Opinion!
    Thank God for Di Martino, who wont give light to the tin foil hats, and just really gives the facts the way that it really is!
    For this, and you Greg, Thank You!

    Di Martino is a set example, why this proud woman face left the south side of Chicago.

    We all know it, and when things seems wierd, its get out of Dodge!

    Thanks Danielle, for your intellect that most of us shoudl get out of Dodge!

    Also, thanks for not “brow beating” others who don’ t follow “all” of our view.
    I appreciate the Respect. All the best to You and look out for those bad tin foil hats you speak of, I totally get it.

    Orlando

  53. flattop

    GREG: John McCain
    Don’t mean to disrespect the man, but I am glad he is finally gone.
    As a military man I have respect for him. BUT, as a politician I find him to be somewhat dis ingenuous

  54. Steve Twitchell

    Take the Master audio output thru a limiter compressor. Run your board output a little hot. The limiter will bring the guest down in volume and the compressor will bring you up. It can be either an older analog limiter/compressor or digital . . . depending on what you send to your computer for final encoding. This way it is more automatic and doesn’t make you have to be thinking technical while trying to follow the conversation. Hope this helps.

    • Greg Hunter

      Thanks Steve. I know you are a real pro at audio. Hope CrossEyedTs.com (Your Christian T-Shirt) Website is doing well:http://crosseyedts.com/
      Greg

  55. Joe G.

    Did you notice in the movie “Blade Runner 2049” there is a scene where hundreds of child slaves are trying to extract the tiny amounts of silver from old computer circuit boards, something not currently cost-effective but if you had slaves, and silver was extinct, it would be worth it. Interesting bit of backdrop scenery, if you understood what was happening in it. Thanks Greg always enjoy your blog

    • Frederick

      Joe I believe it was gold that they were extracting which is a lot more understandable than silver

  56. paul ...

    Every time I listen to this jazz piece by Rick Braun I hear the words “Goodbye Robert Mueller” … … “Before Election Time”… someone should sing these words to this jazz piece and play it nationwide in celebration when Trump finally takes down the “witches infidel”!! … https://www.youtube.com/watch?v=RSdOFByCGx8

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