Inflationary Depression Coming – Peter Schiff

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Money printing by the Fed and Congress is off the charts. The Federal Reserve doubled its balance sheet in a matter of months, and Congress is pumping out trillions of dollars in spending bills to fight the economic crisis caused by the Covid 19 lockdown. The really scary thing is not the massive money printing, but the fact that absolutely nobody seems to care about the risk to the U.S. dollar. Money manager Peter Schiff thinks he knows why, and explains, “(Back in 2008-2009,) even Larry Kudlow was worried about what the Fed was doing, but nobody is worried about it now.  The reason is they have been lulled into this false sense of complacency in that we got away with it the last time . . . and there was no negative consequence. We didn’t have runaway inflation and did not have loss of confidence in the dollar. So, there was no price to be paid. . . . Since we got away with it before, they think they will get away with it again, and I think they are completely wrong. . . .All we did was inflate a bigger bubble, but now this bubble has popped, and it found the mother of all pins in the Coronavirus that put a gaping hole in it, so the air is coming out much faster. Now, they are trying to reflate this thing. We are going to suffer the consequences, not only what we are doing now, but what we did back then. . . . When is all this inflation going to move out of the stock market and into the supermarket? I am surprised this has not already happened, but I do think we are at the end of the line. . . . Here’s what is going on. We are going to have this massive inflation tax. We are seeing price increases at the supermarkets.”

What has to break is the U.S. dollar, and that’s coming, according to Schiff, “We are going to overwhelm with dollar supply. We are printing all this money. The Fed is buying all these bonds. . . . This is it. The Fed is going all in on QE. There is no limit. They are printing all this money, and, so, ultimately, the dollar is going to tank. It hasn’t happened yet, but it will. That’s when the party really ends. That’s when there is massive pressure on consumer prices. That’s when there is massive (upward) pressure on interest rates. . . . This could be an inflationary depression. We could have hyper-inflation. We didn’t have anything like that in the Great Depression. During the 1930’s, prices went down, and people got some relief with lower prices. That made the downturn not as bad. Imagine high unemployment with the cost of living skyrocketing. That’s what we are heading for. It’s going to be the 1970’s only on steroids because it’s going to be a much deeper economic contraction with a much bigger increase in consumer prices.”

Schiff says, “When we reopen, nothing will be the same because we will not be able to reflate this bubble.”

So what do you do? Precious metals are a no-brainer investment. Schiff says, “It’s not that gold is gaining in value, it’s that fiat currencies are all losing value. Gold is the one stable factor. It’s the one thing governments can’t create out of thin air. Every currency in the world, except the dollar, are hitting new record lows against gold. You need more Euros, Rands or Aussie dollars to buy an ounce of gold. . . . The U.S. dollar is losing value more slowly, but this is going to change. We are going to win the race to the bottom. . . . People need to convert their dollars now into gold or silver. If you think the price of gold is going up now, wait til the dollar is the weakest of the currencies. . . . That’s going to accelerate the appreciation of gold . . . and that’s going to put gold in the spotlight as the replacement to the U.S. dollar as the main reserve asset for global central banks.”

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with money manager and economic expert Peter Schiff, founder of Euro Pacific Capital and Schiff Gold.

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After the Interview:

There is much free information and articles at both of Peter Schiff’s websites, EuroPac.com and SchiffGold.com. You can also listen to Peter for free every week on The Peter Schiff Podcast.

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Comments
  1. H. Craig Bradley

    The dollar won’t weaken until the end of this decade. However gold will go up some more, then way down next year in a deflationary wave. Gold is volatile so expect it to begin rising in 2025 from a low of $ 800/OUNCE (Harry Dent)

    • Greg Hunter

      H,
      This is probably the dumbest thing you have said. You do realize we spent $10 trillion SO FAR this year on the Covid crisis ALONE?????
      G

      • Robert

        Greg, in all honesty I don’t know who or what to believe anymore. Everything is so artificial these days. Nothing acts like it should because there’s so much un-natural intervention.

        I’m most concerned about what we’re being conditioned for. What’s coming in the future that all these new ways of life is conditioning us for.

        These new terms, social distancing now being replaced with physical distancing, and essential and non-essential businesses that could easily morph into essential and non essential people, the requirement to wear a face mask or you can’t buy staples and how this new aspect of required clothing could be conditioning us for required uniforms, and the constant fear and panic being sown by a hate all things Trump media, to the way old people are being categorized as needing to be sheltered as were the biggest carriers and affected group by this pathogen and sequestering is best for us, and the way people are making society move in a certain way or be shamed for not following along, to the conflicted vaccine patent industry interests of Dr Faucci and Dr. Redfield the director of the CDC ( and that creepy Bill Gates who has numerous vaccine patents for everything and is pitching it to the CIA to change and limit growth of certain societies) . And most of all the lack of curiosity by the compliant media to inquire if the average number of deaths in general has really gone up more than usual, as COVID19 is used so liberally to include as a cause of death. Many of those dying were near death to begin with. Does anybody die of heart attacks or stroke or the annual flu anymore?

        We don’t have news anymore, it’s pure propaganda and I’d like to know who is behind the talking points and narrative creation? There has to be a central feed somewhere. Who though, the CIA? Obama? Collusion between the globalist leaders in China and the international corporation heads like Facebook, Twitter, Google, and the globalist bankers lead by Timothy Geithner? Who is driving this narrative and how did a very conveniently timed pandemic become the catalyst?

        • Diane

          Good post, Robert.

          • K. Wayne

            Rob,
            You ask “Who is driving this narrative”?
            It goes much higher than you suggest.
            The Globalist Marxist agenda is by design, the usurping of power from the American Politico.
            This (in America ) has been a work in progress since the days of Washington. To discover who resides in the upper echelons of this shadow government , one cannot look past the Super Wealthy of this Nation as well as those abroad. These Mega Rich Families, through an intricate web of Trusts and Foundations together with Ownership of Monopolistic Global Corporations and the Worlds Propaganda Machinery (MSM) have devised such a scheme to bring about a One World Government via a secret society of corruption and luciferianism.
            “News” is not providing clarity and it matter-of-factly will not divulge the true culprits and their masterful plan. It cannot deviate from the agreed agenda and will be silent on all matters that are essential for the public awakening.
            Who indeed is behind the talking points and the narrative. More importantly what are they trying to achieve.
            Look to the stock owners of these monolithic enterprises we call Media.
            Consider the stock holders of the Federal Reserve Bank.
            Observe the Giants of Industry with their vast empires.
            Wealth, Power and Fame is synonymous with membership of a select group of Societies that have at their core, worship of Lucifer. These societies have created essential tools and levers to influence and direct everything that is political and financial in this world.
            I wish you well in your quest to uncovering the truth. It comes with a warning though…once you have arrived at that place….you may wish you had never started the journey.

        • Vie Venard

          Roberto,
          The god of this age has blinded the minds of unbelievers, so that they cannot see the light of the gospel that displays the glory of Christ, who is the image of God. Satan, who is the god of this world, has blinded the minds of those who don’t believe. They are unable to see the glorious light of the Good News.
          2 Corinthians 4:4 The god of this age has blinded the …

          biblehub.com/2_corinthians/4-4.htm

          Are We blinded to the Bible?
          John 9:40 40 Some Pharisees who were with him heard him say this and asked, “What? Are we blind too?” 2 Corinthians 4:3-4 3 And even if our gospel is veiled, it is veiled to those who are perishing. 4 The god of this age has blinded the minds of unbelievers, so that they cannot see the light of the gospel that displays the glory of Christ, who is the image of God.
          Reference: http://www.biblica.com/en-us/bible/online-bible/niv/john/9/

        • AndrewB

          Robert,
          Well put. I share your concerns, especially for my grandchildren. As to your most pertinent question – ‘Who is behind this?’ – I believe G Edward Griffin points an accurate finger in ‘The Creature From Jekyll Island’.

        • Self Exiled

          ”There has to be a central feed somewhere.” NO where as evident as here in SE Asia, where does a country like the Philippines get the script and the funds for all of this. NO one questions this like they do in the USA. I suspect Thailand, Cambodia, and Vietnam same focus.

          https://www.pna.gov.ph/articles/1103808

          https://www.pna.gov.ph/articles/1102913

          https://www.pna.gov.ph/articles/1103792

          https://www.philstar.com/headlines/2020/05/22/2015732/philippines-use-contact-tracing-tech-google-apple

      • Self Exiled

        ”We are the cleanest dirty shirt in the hamper.” I appreciate him refocusing our point of reference. Thank You.

      • viva

        Greg,

        Respectfully, a lot of that money has been allocated, but how much has been actually spent or ever will be? We know that billionaires don’t spend all their money, neither does the government. How many billions does the government simply misplace every year? Money is like the virus, its actions can be observed but the effects can only be guessed after the 20-20 hindsight charts have all been printed.

        My deeply held conviction is that economics is an art, like necromancy and voodoo. Its most successful practitioners are well versed in the techniques of divining and speaking to human desires. But do they really know jack or are some of them just in the right place at the right time?

        • Bill the Cat Guy

          The government spends so much money that the Fed creates money out of thin air to fund deficits. If you’re a billionaire most of your money is in things you own which is very different.

      • Rodger Pape

        When you see cash price of gold/silver in the real markets at such a premium, you know it’s going higher. We are in times where we will look back 3 years and be saying “Why didn’t I invest more in gold and silver”. I’m re-structuring my portfolio to go at least 50% into metals or miners…and SILVER. Trivia question: When silver made it’s high of $49.56 on the week of 4/25/2011, what was the price of Gold? Gold price was $1,575…at that time, a new all time high. Now Gold is $1,730. and Silver is $17.69.

    • Anthony Australia

      Harry Dent is not expert on metals. Real estate maybe and he’s only made 2 correct calls in about a thousand.

      • Freebrezer

        AA – Agree! Dent uses the USA market per his predictions in that we have a wave of old folks that are going to be selling out of stocks, bonds and gold … he somehow misses that there are ~6.7 billion people outside the USA who want gold.

    • Her Majesty's Regent

      At least you have stopped quoting Martin Armstrong and Harry Dent. If you had listened to either of them you probably wouldn’t have bought any gold even though it is at near all time highs in the US dollar and is at all time highs in almost every other currency. Armstrong claims gold is only for the retail investor and not institutions. This is an outright lie as Central Banks are the biggest holders of gold. Most retail investors outside of India are not interested in gold.

    • Brendan James

      When you said Harry Dent I laughed. Followed him for 20 years on and off and he means well but is wildly off. But I always like to hear different opinions, as crazy as some of his are. On your other point, I can only suggest you are trolling when you say that the dollar wont weaken until the end of the decade. Then again, no one thought we would actually get this far. But the US empire is nearing the end and it aint gonna be pretty. I have a strong feeling that the 2020’s and 2030’s will follow the path of the 1920’s and 1930’s. But this time, not Germany, but China / Russia. Once the US economy capitulates, then you will be sitting duck…

      • Tad Argyle

        Branden,
        Bannon reacts to Mnuchin’s economic warning
        •May 20, 2020
        https://www.youtube.com/watch?v=nuRIGCIOzNI
        CHINA/CHINA/CHINA The Golden Rule, he who owns the most gold can line the most politically correct crony media pockets! Joy Bahare, aunt Nancy Smelosie! Drug companies anyone, MADE IN CHINA! The Anglo-American world super power is broke! No gold, no money. Money talks B.S. walks. Were dead super power walking! Cave or grave?
        Steve Bannon: China was not prepared to have Trump in office
        FOX US.•May 20, 2019
        https://www.youtube.com/watch?v=QuAZKNEcj2g
        The Demon himself?

    • al

      There was another “dude” who said gold would go down to $35.00 when gold hit $250/ounce in 2001. I remember that. Dent was a gold bug back then, but since 2006 his models have failed. He’s been wrong for almost 2 decades on gold, however, he is now changing his tune.
      Mr. Bradley, keep up with the times. That’s old news.

    • Rob

      We are in the deflationary period right now due to the near death of money velocity. We are heading to an exponential spike in both money supply and inflation in the one commodity everyone needs by Trump’s next term:
      Revelation 6:5-6 And when he opened the third seal, I heard the third living creature saying, Come. And I saw, and behold, a black horse; and he that sat thereon had a balance in his hand. (6) And I heard as it were a voice in the midst of the four living creatures saying, A measure of wheat for a shilling, and three measures of barley for a shilling; and the oil and the wine hurt thou not.

      Father used Moses to draw His people out of Egypt as a type of the world and is going to do the same thing again during the tribulation:

      https://sumofthyword.com/2016/10/04/the-rapture-of-the-church-is-after-the-tribulation/

      • Bill the Cat Guy

        We’re not in the Great Tribulation. That won’t start until the anti-christ signs a seven year peace treaty with Israel. After the anti-christ enters the temple it will be 1260 days until Jesus returns. Everybody who’s still alive will be able to count down the days. Yet Jesus said to be ready because we won’t know when he’s returning. So it should be obvious that Jesus comes back first before the Great Tribulation and again at the end of the tribulation.

      • Bill's Stilled!

        STAGFLATION

    • eddiemd

      Just go to the grocery store and see what is happening to the dollar.

      • eddiemd

        1 Kings 19:11-12
        11 Then He said, “Go out, and stand on the mountain before the Lord.” And behold, the Lord passed by, and a great and strong wind tore into the mountains and broke the rocks in pieces before the Lord, but the Lord was not in the wind; and after the wind an earthquake, but the Lord was not in the earthquake; 12 and after the earthquake a fire, but the Lord was not in the fire; and after the fire a still small voice.

        A wind tore into the mountains and broke the rocks into pieces. The presence of the Lord Jesus Christ. To us sinners who love Him, He brings peace, joy, love, faithfulness, kindness, goodness, self-control, longsuffering, meekness; His still voice speaks to our spirit. He dwells in us.

        Romans 8:2
        For the law of the Spirit of life in Christ Jesus has made me free from the law of sin and death.

        1 Cor 15:56
        The sting of death is sin, and the strength of sin is the law.

        I do not fear death. I am no longer under the law of sin and death. I have been set free by the Blood of Jesus Christ. My life is in Christ Jesus. My Redeemer. My Messiah. My King. My Almighty God. Glory to the King of Kings. The Name above all Names.

        Daniel 11:32
        but the people who know their God shall be strong, and carry out great exploits

        Psalm 18:1-3

        I will love You, O Lord, my strength.
        2
        The Lord is my rock and my fortress and my deliverer;
        My God, my strength, in whom I will trust;
        My shield and the horn of my salvation, my stronghold.
        3
        I will call upon the Lord, who is worthy to be praised;
        So shall I be saved from my enemies.
        4
        The pangs of death surrounded me,
        And the floods of ungodliness made me afraid.
        5
        The sorrows of Sheol surrounded me;
        The snares of death confronted me.
        6
        In my distress I called upon the Lord,
        And cried out to my God;
        He heard my voice from His temple,
        And my cry came before Him, even to His ears.

        My Strength. My Rock. My Fortress. My Deliverer. My Shield. My Salvation. My Stronghold. In Whom I will trust. Jesus Christ of Nazareth, Almighty God in the flesh. I will call upon Him. Who is worthy to be praised. He hears my voice from His Temple. So shall I be saved from my enemies.

        https://www.youtube.com/watch?v=5Q1Ui1eMfx8

        • eddiemd

          1 Timothy 15-17
          15 This is a faithful saying and worthy of all acceptance, that Christ Jesus came into the world to save sinners, of whom I am chief. 16 However, for this reason I obtained mercy, that in me first Jesus Christ might show all longsuffering, as a pattern to those who are going to believe on Him for everlasting life. 17 Now to the King eternal, immortal, invisible, to God who alone is wise, be honor and glory forever and ever. Amen.

          Jesus Christ of Nazareth came to save sinners. He came to save me and you. You will obtain mercy. He loves you more than you can know. He was crucified on a tree for you. Suffered greatly. He shed His blood for you. Call out to Him. He will hear you. He will manifest Himself to you when you diligently seek Him. He will deliver you from the bondage of sin. You will have everlasting life in Him.

          https://www.youtube.com/watch?v=2PWBMrovPuA

          • eddiemd

            https://www.youtube.com/watch?v=Tz9kctO_b6M

            If the communist socialist democrats come to power next November, they will make war on people of faith in Jesus Christ. Prepare. Store the Word of the Almighty God in your hearts and minds. Seek wisdom from on high. Seek Jesus Christ. He is the Truth. Today is the day of salvation.

            If we go to war with China, will they invade the USA? Will they strike first with an EMP weapon?

            https://www.youtube.com/watch?v=s1W1i2YRz4I

            I was originally educated as an electronic engineer before enlisting in the Army in 82. I did my graduate presentation on the physics of EMP. Nearly all semiconductor material (unless shielded) will be destroyed depending on the size and altitude of the blast.

            This video gives a decent explanation.

            https://www.youtube.com/watch?v=X5X1oMw7KDY

            The MiG-25 in 1975 was found to have shielded electronics to protect from EMP. I hope that our current military systems are protected. Most comms will be wiped out. A nuclear blast in space will disable most GPS and communications. Most likely we will need to send up additional satellite replacement. We rely on Russian rockets now to move payloads into orbit.

          • eddiemd

            John 9:
            Now as Jesus passed by, He saw a man who was blind from birth. 2 And His disciples asked Him, saying, “Rabbi, who sinned, this man or his parents, that he was born blind?”

            3 Jesus answered, “Neither this man nor his parents sinned, but that the works of God should be revealed in him. 4 I must work the works of Him who sent Me while it is day; the night is coming when no one can work. 5 As long as I am in the world, I am the light of the world.”
            6 When He had said these things, He spat on the ground and made clay with the saliva; and He anointed the eyes of the blind man with the clay. 7 And He said to him, “Go, wash in the pool of Siloam” (which is translated, Sent). So he went and washed, and came back seeing.
            8 Therefore the neighbors and those who previously had seen that he was blind said, “Is not this he who sat and begged?”

            9 Some said, “This is he.” Others said, “He is like him.”
            He said, “I am he.”
            10 Therefore they said to him, “How were your eyes opened?”
            11 He answered and said, “A Man called Jesus made clay and anointed my eyes and said to me, ‘Go to the pool of Siloam and wash.’ So I went and washed, and I received sight.”
            12 Then they said to him, “Where is He?”

            13 They brought him who formerly was blind to the Pharisees. 14 Now it was a Sabbath when Jesus made the clay and opened his eyes. 15 Then the Pharisees also asked him again how he had received his sight. He said to them, “He put clay on my eyes, and I washed, and I see.”
            24 So they again called the man who was blind, and said to him, “Give God the glory! We know that this Man is a sinner.”
            25 He answered and said, “Whether He is a sinner or not I do not know. One thing I know: that though I was blind, now I see.”
            26 Then they said to him again, “What did He do to you? How did He open your eyes?”
            27 He answered them, “I told you already, and you did not listen. Why do you want to hear it again? Do you also want to become His disciples?”
            28 Then they reviled him and said, “You are His disciple, but we are Moses’ disciples. 29 We know that God spoke to Moses; as for this fellow, we do not know where He is from.”
            30 The man answered and said to them, “Why, this is a marvelous thing, that you do not know where He is from; yet He has opened my eyes! 31 Now we know that God does not hear sinners; but if anyone is a worshiper of God and does His will, He hears him. 32 Since the world began it has been unheard of that anyone opened the eyes of one who was born blind. 33 If this Man were not from God, He could do nothing.”
            34 They answered and said to him, “You were completely born in sins, and are you teaching us?” And they cast him out.

            A man called Jesus. Healed me. Opened my eyes. Set me free from the law of sin and death.

            Jesus is passing by. Call upon Him. If anyone is a worshipper of Jesus Christ, Almighty God in the flesh, and does His will, He hears them.

            Do you also want to become His disciple?

            https://www.youtube.com/watch?v=FWLJjuCSPi4

            Matthew 11:28-30
            28 Come to Me, all you who labor and are heavy laden, and I will give you rest. 29 Take My yoke upon you and learn from Me, for I am gentle and lowly in heart, and you will find rest for your souls. 30 For My yoke is easy and My burden is light.”

            • eddiemd

              Call upon the Name of Jesus Christ of Nazareth.

              Lam 3:55-57

              I called on Your name, O Lord,
              From the lowest pit.
              56
              You have heard my voice:
              “Do not hide Your ear
              From my sighing, from my cry for help.”
              57
              You drew near on the day I called on You,
              And said, “Do not fear!”

              My Deliverer. My Fortress. My Salvation. My Stronghold. My Strength. My Shield. My God. In Whom I will trust. I will call upon the Lord. Who will deliver me from the enemy.

        • eddiemd

          The communists tightened their grip. Bibles were banned. Churches were monitored. The communists knew that the only effective resistance left was faith in the Almighty God, Jesus Christ of Nazareth.

          Tortured for Christ.

          https://www.youtube.com/watch?v=CAw6n9s3vzM

          Prepare yourself.

  2. Lucas Doolin

    I am glad Peter discussed gold stocks (miners) I own several gold stock funds but think he is right about his fund and Adrien Day. High sales charges but probably worth it with Adrien Day picking the stocks. Homestake Minking and Dome Mines made people rich during the Great Depression. There will be big winners coming and Adrien Day will be over weighted with the ones to own. https://europacificfunds.com/funds/gold-fund/

  3. Anthony Australia

    Thanks Greg,
    Anti China sentiment is heating up here, apparently we’ve been king hit with additional tariffs and are ‘the kangaroo to the American dog’.
    The geopolitical landscape shifts weekly and it is all part of the globalists game plan.
    For me governments across the globe are despicable and the COVID-19 has been introduced to suppress the uprising.

    • JC

      Anthony A, I agree with you, they are suppressing the uprising. As G.A. STEWART at http://www.theageofdesolation.com has stated, Covid-19 is the “everything virus.”

    • Ronnie

      Yes it’s true “America’s Australian dog.”
      It used to be called the “Britains Australian dog.”
      Anthony : WW3 nuke war means Darwin, the Townsville’s military complex, Geraldton 5 x eyes and Adelaide harbour are all nuke targets. So America cannot us the “Aussie dog ,” for a forward deployment zone and “nukes over there and not on US soil.”
      Next Sydney harbour and Airport then on down a target list.
      Morrison kissed the “big orange bum “ as instructed and Barley gone, Dairy, coal and iron ore, Wine industry, Tourism and Education all on the endangered list.
      Jobs gone. Then Disability pensions gone, then old age pensions gone. It called no exports …….no money.
      The “Orange Bum,” will do a deal and export American Barley.
      America no longer has or wants any allies. Wall St / corporate America out sourced that as well !
      Australia is on its own.
      Victoria ( Aussie state) has signed on to the One belt Silk Road. The original Silk Road was trade business and no war.
      Anthony a lot of Aussies are turning against America. Our politicians will abandon America and become a , “China dog” as long as they can continue to butter both sides of their bread.
      What has the world turned into. Or turn to evil, more like.

      • Anthony Australia

        Blimey, thanks for the report. Paul Keating was the catalyst for this shift to Chinese sentiment.

      • BLT

        Wasn’t Australia implicated in the coup to take down President Trump? Not that you guys have the ability to select every one of your diplomats, but if the coup attempt would have worked Australia would have been a very big part of it. The wheat thing might be a little bit of a payback… just saying…

        • Anthony Australia

          Alexander Downer

        • Rachel

          Hi BLT, Australia supports President Trump. Morrison has visited him and confirmed support for Americas efforts in the middle east. Australia has so far thought it can maintain positive relations with both the USA and China. Recently our government made a move to restrict foreign investment to better protect our assets. The tariffs we see now are a power demonstration by China to curb this. China will find that we will trade elsewhere if they push us more and the virus has already prompted us to start doing this anyway. Australia is not anti-America at all.

    • Selma Alabama

      Tony, the uprising will not be suppressed. For it’s been prophesied! From an old magazine of over 140 years ago, as eddiemd say’s further below. The foolishness of The World and from an old magazine;
      “The Day of the Lord” (paragraphs 7 and 14), said the following, and as you read this we want you to remember this was published, not in 1950, but away back seventy-one years ago:
      “Very many Scriptures seem to teach that the kingdoms of earth will be overthrown by a rising of the people: goaded to desperation from lack of employment and seeking relief from the oppression of bloodthirsty governments. Such a rising and overturning, Socialists, COMMUNISTS, and Nihilists of today would gladly bring about if they could. Now the Scripture recognizes wrong and oppression as existing in the nations and foretells this as the way in which they will be overthrown, and says: ‘Go to now, ye rich men, weep and howl for the misery that shall come upon you. Ye have heaped treasure together for the last days. Behold, the hire of the laborers which is of you kept back by fraud, crieth.’ Jas. v. 1. Yet it does not recognize this Communism as right but the contrary rather instructing believers . . . saying to us—‘Be patient, therefore, brethren, unto the coming of the Lord.’ . . . And it is astonishing how very rapidly these things once looked at as absurd and impossible are becoming realities. When we with a few others declared these things only a short time since, and called attention to the fact that trouble was taught to be occasioned by a rising of the people and the overthrow of governments—Communism—we were laughed at; there was truly little sign then of Communism; but today every civilized nation is in dread, and Nihilism, Communism and Socialism, are household words, and we see ‘men’s hearts failing them for fear and for looking after those things coming on the earth, for the powers of heaven (governments) shall be shaken.’ Luke xxi. 26.”

      In its issue of June, 1883, (page 8) said: “In other words, remove the element which advises prudence, morality, and right-doing, from the counsels of the restless masses—from the Labor leagues and other associations, and let the lower element control itself, and the result would quickly be the destruction of life, property, laws, and peace—a grand reign of anarchy in the name of communism.”
      1884, “Light in Darkness” and quoted, in paragraph 5, the statement of Blackwood’s Magazine: “How humiliating, too, is the thought that . . . the dangerous classes, and ‘dissolving forces’ are becoming more formidable than ever, and that the ‘social revolution’—Atheistic Communism and Nihilism—may yet shake to its foundations the entire system of civilization which modern Europe has been so slowly perfecting as the highest product of the Aryan Community of nations.”

      September 1, 1895, under the heading “They Had All Things in Common”, said this: “Experience proves the failure of communistic methods in the present time. . . . The Bible does not teach communism, but does teach loving considerate individualism, except in the sense of family communism—each family acting as a unit, . . . Moreover, the forming of a commune of believers is opposed to the purpose and methods of the Gospel age. The object to this age is to witness Christ to the world, and thus to ‘take out a people for his name;’ and to this end each believer is exhorted to be a burning and a shining light before men—the world in general—and not before and to each other merely. . . . It is still the work of God’s people to shine as lights in the midst of the world, and not to shut themselves up in convents and cloisters or as communities. The promises of Paradise will not be realized by joining such communes.”

      What did its issue of January 1, 1902, say on it?
      “The Early Church”, and under the subheading “Communism at Present Impractical” it said: “The early church did not practice what is now known as communism; . . . So far as the record shows there was no compulsory division of wealth, such as communism purposes. On the contrary, everything was voluntary; and everything of the same kind is just as free, just as voluntary, and just as proper, now as then—no more so, no less so. . . . It is noteworthy that the apostles neither commanded nor advised communism; nor do their writings intimate that it prevailed in the early church.”

      In 1886 the book The Plan of the Ages, and this book continued to be published and circulated by the millions of copies in many languages until 1929, when it was let go out of stock. In chapter 15, entitled “The Day of Jehovah”, page 312 ¶2, this publication said: “Hence, the wealthy are drawn closer to the governments; and the wage-working masses, beginning to think that laws and governments are designed to aid the wealthy and to restrain the poor, are drawn toward Communism and Anarchy, thinking that their interests would best be served thereby, and not realizing that the worst government, and the most expensive, is vastly better than no government at all.”

      Almighty God has promised to vindicate his faithful witnesses, and he will do so at the battle of Armageddon, in which he will totally destroy godless communism and all other elements of the old world. In Daniel’s prophecy concerning the Devil’s world organization at this crucial time where it tries to hold the worldly elements together like clay mixed with iron, it is written: “And in the days of these kings shall the God of heaven set up a kingdom, which shall never be destroyed: and the kingdom shall not be left to other people [neither to Communist people nor to any other political group], but it shall break in pieces and consume all these kingdoms, and it shall stand for ever.” The prophecy likens God’s kingdom by Christ to a stone which strikes and grinds the Devil’s governmental image to powder, and says: “The stone that smote the image became a great mountain, and filled the whole earth.” (Dan. 2:44, 35) Neither the United Nations nor any totalitarian power will be able to stand up against the fulfillment of that prophecy. Jehovah’s Theocratic government under his Christ will survive the battle of Armageddon as winner and will bring faithful people of good will through as survivors and will thereafter dominate all the earth without any rival powers.

      Ours is a peaceful work. We will keep on obeying Jesus’ command to ‘render to Caesar the things that are Caesar’s and to God the things that are God’s’. Hence we will be orderly, resorting to no violence or subversion against the political powers of this world, but letting them continue to carry on their political experiments as long as God allows them. We will fulfill our obligation to warn all nations of the coming “act of God” against this world at Armageddon. This course alone can have his approval and assure us of survival at the battle of Armageddon. His Word commands us: “Seek ye Jehovah, all ye meek of the earth, that have kept his ordinances; seek righteousness, seek meekness: it may be ye will be hid in the day of Jehovah’s anger.” (Zeph. 2:3, Am. Stan. Ver.) We urge all to this course of godliness with contentment.

      We mark the growing tendency to totalitarian regimentation of the peoples as a desperate final measure to preserve the worldly powers in control. People are being swept into the movement to idolize the state and to exalt it above God, who is the only Supreme Power. The Bible has foretold this. (Rev. 13:16, 17) But we cannot be divided in our worship. Confronted with further encroachments upon our worship of the Supreme Ruler and our devotion to his kingdom by Christ, we are determined to obey our King’s command to “render . . . unto God the things that are God’s”. Mindful of the apostle Peter’s words to the court at Jerusalem, “We ought to obey God rather than men,” we will keep obedience to God’s commands first, together with unbreakable devotion to his kingdom now established. (Acts 5:29) We are bound to suffer more international persecution for this godly course of action, but we warn our persecutors with Jehovah God’s words to his Theocratic organization: “The nation and kingdom that will not serve thee shall perish; yea, those nations shall be utterly wasted.” (Isa. 60:12) Obedience to the great Life-giver spells eternal life for us in the new world, and the old world’s persecution of us will continue failing to halt the Kingdom’s increase.

      We will keep our integrity to God in vindication of his universal sovereignty and his right to rule his creation, this earth and all people permitted to live on it. In Theocratic obedience and faithfulness we will march on toward the New World, rejoicing in all further expansion of his kingdom, for there will be no end to its increase even this side of Armageddon. If we keep on sowing his Kingdom message, we shall reap returns for eternity, for God will give his promised increase. Let Christendom go on sowing to the wind by pursuing the futile course of this old world; she will reap the whirlwind at Armageddon. We who have sown to the interests of Jehovah’s Theocracy by Christ will reap the increase of thousands of other Kingdom adherents, the “other sheep” whom the Good Shepherd will yet gather into the “one fold” of everlasting safety.—John 10:16.

      God’s Word and purpose have never failed so far and will not fail us in the most crucial world period ahead. So on with his work of witnessing to the Kingdom among all nations before the end comes. In faith and obedience, endure hardness as good soldiers of Jesus Christ. Carry out your part as advance publicity agents of the New World government. Fear not the foe, but God only. By godly lives and ceaseless proclamation of the Bible truth, keep on recommending Jehovah’s Theocracy by Christ to all men of good will, confidently looking to him for the rewarding increase.—2 Cor. 4:2.
      The statement quoted can be read on page 12, ¶ 3, to page 13, top, of the booklet Face the Facts, published in 1938, and circulated in millions of copies, in a number of languages.

      See also The Battle of Armageddon, published in 1897, and particularly its chapter 10 entitled “Proposed Remedies—Social and Financial”, pages 473-481. Note that under the heading “Communism as a Remedy” it says: “As a whole it is quite impracticable.” This book also was distributed till 1929
      WOW, We are there @ USAWatchdog.com. Where they were focused. The big inning of the battle between good and evil. Step right up folks, front row seats. History in the making, before your very eyeballs! Pray they don’t melt out the sockets! Don’t miss it. Be there or be nowhere!

      • Selma Alabama

        If to long Greg feel free to cut, but it is amazing, that the near future sure looks like, what they saw in the scriptures, over a generation ago. Mind you a human generation does not exceed much over 120 years!

      • eddiemd

        Are you a JW cultist? It is obvious from the references to “Jehovah”, “Kingdom”, etc. This is the speech of the JW cult.

        Come out from this cult while there is time.

        Do you also deny that Jesus Christ is the Almighty God in the flesh?

        • William Stanley

          eddiemd,
          Are you sure that Christian love is your main motivation?

          13 If I speak in the tongues of men and of angels, but have not love, I am a noisy gong or a clanging cymbal. 2 And if I have prophetic powers, and understand all mysteries and all knowledge, and if I have all faith, so as to remove mountains, but have not love, I am nothing. 3 If I give away all I have, and if I deliver up my body to be burned,[a] but have not love, I gain nothing.
          4 Love is patient and kind; love does not envy or boast; it is not arrogant 5 or rude. It does not insist on its own way; it is not irritable or resentful;[b] 6 it does not rejoice at wrongdoing, but rejoices with the truth. 7 Love bears all things, believes all things, hopes all things, endures all things.
          8 Love never ends. As for prophecies, they will pass away; as for tongues, they will cease; as for knowledge, it will pass away. 9 For we know in part and we prophesy in part, 10 but when the perfect comes, the partial will pass away. 11 When I was a child, I spoke like a child, I thought like a child, I reasoned like a child. When I became a man, I gave up childish ways. 12 For now we see in a mirror dimly, but then face to face. Now I know in part; then I shall know fully, even as I have been fully known.
          13 So now faith, hope, and love abide, these three; but the greatest of these is love.

          • eddiemd

            Go away Mr. Stanley,

            If you support false doctrines such as the JWs then I cannot help you. Do you know anything about the JWs?

            I call out the false teaching when I see them. JW is a false religion that denies the divinity of Jesus Christ. They even rewrote the Word of God to fit their doctrine. They are being led astray.

            If you are a JW, then you still have a chance to get out of the cult. Do it and don’t look back.

            • William Stanley

              eddiemd,
              Your arrogance does not become you.
              Proverbs 16:18

              • eddiemd

                I understand that I cannot help you. Only the Holy Spirit can reveal to you the Truth.

                Someday you will know the Truth. Everyone will bow to the Lord Jesus Christ. Including you. You will have no choice. Every knee will bow and every tongue confess that Jesus Christ is Lord.

                It is not arrogance, it is the Word of the Almighty God. It is the Truth. It will set you free.

                • Charles H

                  eddie,

                  William is on our side. He sometimes plays a devil’s advocate – which trys to take us out of our box; or examine it at length. He is not sympathetic to JW doctrine. Remember – one spiritual body – with many members.

                  What I see him doing is Empathetic reflectioning – which just bounces back a restated impression you are making. That basicaly allows you to get a jist of the impression and usually provokes a clarifying response. And you are responding pretty hard.

  4. JC

    Martin Armstrong also says no reflating the bubble, and food prices rising fast.

    There is NO AMOUNT of stimulus that will prevent an economic contraction into 2022. This will be a STAGFLATIONARY trend because this insane lockdown has also seriously reduced the world’s capacity to produce food. Food prices overall are rising faster than anyone realized. The increase last year was only 1% whereas this year the increase is touching 3% in just 8 weeks. This is the direct result of the destruction of the capacity to produce food which will threaten a rising famine over the next two years as well.

    There is NO POSSIBLE way to restore the economy. We are NOT putting Humpty Dumpty back together again.

    https://www.armstrongeconomics.com/armstrongeconomics101/economics/coronavirus-bankruptcy-pandemic-continues/

    • Brendan James

      Anthony, you guys are toast when it comes to China. You will be eating bat soup too by the 30’s. As will my friends in NZ. China will complete what Japan tried to do and they will do it with hardly a fight. Wait and see…

    • Sir Manly Robinson

      Yes but Armstrong claims an incredible degree of predictive accuracy on behalf of his Socrates computer programme. So why did it fail to predict the economic fallout from Covid-19? This has been the biggest economic disruption since the second world war. A massive miss. In mid 2019 he said he can’t see the Dow going anywhere but up. In early 2020 when it was known that Covid-19 had broken out in China he revised his forecast a bit to say that there might be a temporary correction but that we were probably years away from a correction to 19,00 on the Dow. Why did Socrates not predict the DOW and oil price crash as a result of Covid-19? Are you aware if Martin Armstrong has explained this?

      • Stephen Paul

        I subscribe to Armstrong, Socrates follows capital flows and determines from this probabilities but it is not Nostradamous

        • Sir Manly Robinson

          Really? The way Martin Armstrong goes on about it you would think it is the ultimate prediction machine that never fails. How could such a reliable indicator miss the biggest economic contraction since the second world war?

      • Gary C

        Actually Socrates did predict the crash six months before hand at his Orlando conference. He has a public blog and a private blog, subscription
        required.

        • Sir Manly Robinson

          So you are saying he puts out false information to non subscribers?
          Do you have any actual evidence of this prediction like a link?
          You could be anyone. How do I know you are not Martin Armstrong?
          He clearly says that he doesn’t see the Dow going anywhere but up. He said this mid 2019 and was referring to the period up to 2021. Are you saying he was lying when he made this statement? He also fails to predict the economic fall out from the virus generally like crashing oil prices.
          https://www.youtube.com/watch?v=huTz7b2wmRI

          Armstrong also predicted a market top in 2015 which never transpired.
          https://www.theguardian.com/commentisfree/2015/nov/01/financial-armageddon-crash-warning-signs

          • Sir Manly Robinson

            This is why I tire of these forecasters. I know what Martin Armstrong said regarding the Dow. Now apparently what I heard wasn’t the ‘real’ prediction. The correct prediction was told to a limited number of people in secret. And conveniently there is no evidence to prove this.

      • JC

        Sir Manly, I understand what you are saying, but maybe Armstrong only keeps his subscribers fully updated on his private blog. Maybe if anyone here, they could comment.

        • Sir Manly Robinson

          That’s not good enough. I heard what Armstrong said about the Dow. So now he has a fake prediction for the public and a real one for his subscribers. There has to be some verifiable evidence before I accept this otherwise it seems like a convenient escape clause.

          • Sir Manly Robinson

            Sorry to bang on about it but I have had my suspicions about Armstrong and have been tracking his interviews and articles for a while in an attempt to pin down his accuracy. Ain’t been great so far.

        • Gary C

          The trend on oil , gold, all markets is on his private blog, weekly, monthly, yearly. He is not going to give a way everything, all his research for free, and I do not blame him.

          Chris Martenson, is no different. I would post his general public discussions, but not post his paying subscriber forecasts, as that would be unethical.

          Sir Manly you have NO CLUE as to what you are talking about, you want free forecasts than go to the Motley Fool
          or CNBC

          • Sir Manly Robinson

            So you are saying he has a public opinion and a private opinion like…Hillary? lol
            I heard him say that he didn’t see the Dow going anywhere but up. Do you deny this? Next you expect me to believe that at the same time he was privately predicting a crash on the Dow? How do you explain this contradiction?
            Yes, a lot of financial experts have free public interviews and articles and a paid for subscription service but that does not mean that the information given out publicly CONTRADICTS their private forecasts.
            The expert might, for example, say they expect the price of copper to go down next year in public and then give their private subscribers more specific price predictions on a short term basis or the expert might tell people publicly that uranium is a good investment and then give their subscribers the names of good Uranium miners that are likely to do well in the next uptrend. In no way should the public information contradict the private subscriber information both on a moral level and on a business level (who would sign up to a subscription service run by someone with a dodgy public forecasting record?).

            • William Stanley

              SMR,
              Well done!

        • paul ...

          JC … As long as Armstrong is predicting the stock market will go up … it means that gold will be going up!

    • Allen Starr

      Many more Russians growing crops on their Dachas this year. We finished putting in our carrots, beets, onions, parsley, beans, peas for the chipmunk, and the potatoes. We put 1,250 potatoes in the ground and two varieties were Russian and two varieties were American. One American variety was the Idaho Russet which was 500 potatoes which need 1 1/2 months more growing time than the Russian potatoes so they won’t be dug up until the end of September. We’ve got 600 strawberry plants which just started flowering this last week. We got 250 liters last year and looks like we’ll get about the same this year considering the flowers. Probably have to start picking about June 20th and then every 3 days through most of July. It takes two people 5 hours to pick the berries and it really wears you down by the time the berries quit coming but the wife gets really good money for her berries. Tomatoes, peppers, and cucumbers will go in the greenhouse later on. Dill, spinach, and other greens will also be planted later as will a weird kind of onion which is sweet and grows about three feet tall and doesn’t have a bulb in the ground. We’re also going to try growing some corn this year and see what happens. I was sent some corn cob holders from the US last year and hope to try them out. If corn is a disaster, I can always buy bags from Uzbekistan or Kazakhstan in August which is really good tasting corn. We went nuts and used about 3 tons of dry cow manure on the crops this year but still have another 12 tons ageing. We buy our cow manure from a woman who raises dairy cattle and also bought beef cows about 4 years ago. She gives us a very good price as she is short of space to store it and her stuff is not fresh so we can use it immediately. We’ll buy another 12 tons next year and with any luck she’ll sell us some beef later on. We’re about as prepared as we can be and now just wait for the financial catastrophe to hit.

  5. Maria das Santos

    Thanks Mr Hunter and Mr Schiff,as always very informative.
    Here in the police state formerly known as the UK the insanity continues,
    https://hitchensblog.mailonsunday.co.uk/2020/05/we-will-never-get-out-of-this-now-it-will-go-on-for-ever-we-will-not-be-free-people-again-even-when-we-seem-to-be-free-we.html
    Our economy is at best in the doldrums and even so called wealthy people will be loosing money and assets,they are not really in the uber-wealthy club,like Winfrey,Soros,Bloomberg,Buffet,Gates and Bezos.All determined to have the world to themselves whilst we peasants may be the fertiliser for their farms.The “Green Terrorists”are different they have wealth and contacts at their fingertipsWhy even China is a threat to these greenies.

    • Sir Manly Robinson

      Maria, are you based in London?

  6. William Stanley

    Mr. Hunter:
    Mr. Schiff’s logic is impeccable.
    I think that downward pressure on money supply from loan defaults will be outweighed by the money printing and “helicopter drops.” Moreover, the supply of goods and services will be greatly reduced. That cannot bode well for revenues, profits and stock prices. More money, less stuff. All of that implies inflation and fear . . . which implies an increase in the demand for and price of gold as a store of value. The demand for gold will only increase if (as many are forecasting) interest rates turn negative toward the end of this year.

    • The Queen's Regent

      Sound reasoning William. According to wiki:

      “A central bank, reserve bank, or monetary authority is an institution that manages the currency, money supply, and interest rates of a state or formal monetary union, and oversees their commercial banking system. … Central banks in most developed nations are institutionally independent from political interference.”

      So if central banks are institutions and they buy gold how does Martin Armstrong conclude that gold is only for the retail investor and not institutions?
      Also, outside of India, where are all these retail investors that are buying gold? certainly not in the UK.

      • William Stanley

        TQR,
        I’m hearing rumors that the US DOJ may hit JPM for manipulation in the silver market. What’s your opinion about rebalancing portfolios toward more silver and less gold?

        • William Stanley

          Oh, I forgot to tell you that I’m presently heavy gold relative to silver and that I don’t have to worry about tax consequences.

          • The Queen's Regent

            Yes, gold is preferable tax wise. In the UK new silver bullion coins are taxed at 20% on purchase but are capital gains tax free on selling. Although the government could move the goalposts should silver skyrocket.

            • William Stanley

              Thanks!

        • paul ...

          William … If the DOJ really goes after JPM … and JPM is forced to take their foot off the brake … silver will soar … a lot lot more then it is doing right now … https://www.kitco.com/charts/livesilver.html

          • William Stanley

            Thank you, too!

      • Nick in UK

        In the UK there are an enormous amount of people exchanging currency for real money (gold or silver).
        They wisely do not shout about it so your conclusion that few in the UK buy precious metals is far from accurate.

        You can order online from “Bullion by post” in Birmingham or visit them on the top floor of a very tall city centre building between the jewellery quarter and the Chinese quarter. I have been there many times and its over 4 hours away from me. They have had stock issues lately. They havent had 5kg Silver bars for months, possibly a year now. There are hundreds of other bullion dealers in the UK, most with multiple employees, yet you assume these business have no clients ???

        In my small town there are two coin dealers who also sell gold and silver coins or bars. They are both very low on stock, the better one has less than 200 silver 1oz coins available. I bought 25 Brittanias earlier this week for £500 cash, which was £20 each. These were my most expensive purchase in last 12 or so years. I often buy gold coins from them as well, when disposable funds allow.

        You can also buy bullion in the UK on Ebay and similar sites, at coin fairs, at auctions, at collectible fairs etc etc. I have offloaded currency for PMs many many times with no trace back to me.

        It is my understanding that central banks are privately owned and the FED is not actually Federal so should these precious metals buyers be considered as the worlds wealthiest retail buyers hedging against currency collapse and not as government institutions?

        • The Queen's Regent

          Well it’s all relative isn’t it? There are not many retail investors buying gold relative to say houses, stocks or anything else you could imagine really in terms of currency spent. Does it compare to the amount of gold bullion held by central banks?

  7. PCP

    Creating an illness pipeline is part of the program.

  8. AndrewB

    Hi Greg, Great interview, thanks.
    To Peter’s point . . .
    https://www.zerohedge.com/markets/retailers-reel-commercial-landlords-issue-thousands-default-notices

  9. Neville

    They are NOT PRINTING MONEY…..the cretins are creating it out of thin air,so
    they are NOT confronted with a counterfeiting charge as all the evidence for that is in Cyber space.
    GOT HATES THOSE THAT USE DISHONEST WEIGHTS AND MEASURES…….This one
    breaks the Camels back good and proper !!!
    AAcrime remember KARMA DOESN’T HAVE A MENU.
    BUT….
    IT DOES HAVE AN ADDRESS.

    THE GREAT RESET WILL BE UPON US !!
    GOD help all those people of peace and goodwill .

    https://www.youtube.com/watch?v=h9LTHZHu7Jw

    Open the above if you didn’t make it to Church like the rest of us

    • William Stanley

      NEVILLE:
      RE: “printing” money
      Yes, of course, they are creating it out of thin air. Most of us here and in other knowledgable fora know that and assume others do as well. The use of the term “printing” is a shorthand metaphor, and it is simply assumed that the audience understands that.

      • K. Wayne

        Hence the phrase….”Printing money out of thin air”. It is impossible to create money artificially…and yet they do it with amazing alacrity. What one could do with control of the money supply….the list is endless.

        • Nick in UK

          They are NOT printing money.
          You cannot print money.

          They are printing currrency and handing out billions to trillions to the masses. This is called “helicopter money” yet involves no helicopters or money!

          Money and currency are NOT the same thing. Unfortunately or by design the masses refer to currency as money. They have been programmed that way.

          Type “currency v money” into any search engine for definitions or watch Mike Maloney secrets of money.

          Everytime you hear people talk about money when they mean currency correct them.

          • K. Wayne

            No correction necessary Nick.
            Money is characterized as Good and Bad.
            Most often Bad Money is referred to as Currency.
            The currency ( in the act of printing BAD money out of thin air) derives from the act of creation from no expenditure of labor nor loss of capital.
            A Ponzi scheme…!!

          • William Stanley

            Nick,
            Maloney is playing word games. He and you need to stop.

            • Nick in UK

              Its not word games These might help:

              https://deanclancy.com/the-constitutions-seven-money-clauses/

              Or

              https://justaskbenwhy.com/2015/04/24/difference-between-currency-and-money/

              Plus the clear distinction between real money and FIAT currency is taught in UK education system.

              • William Stanley

                Nick,
                Even Maloney uses the term “printing the money” from time to time. He assumes his audience knows what he’s talking about. You should, too.
                See, e.g. Loc 1491 of his book Guide to Investing in Gold and Silver (Kindle edition).

              • K. Wayne

                Nick,
                You haven’t added anything of value to the discussion around the obvious counterfeiting nor the power that resides with the FED….your interjection is a bad case of semantics. Let it go.

  10. Rev Andrew de Berry

    Peter Schiff is always brilliant…makes his points with absolute clarity. Thanks as always.

  11. Ronnie

    Another good show Greg.
    Ask Peter if America has any industry other than…
    Restaurants, Bars , Cheese Burger flippers, Hotels, Tourism, Retail etc
    Or is this what an economy looks like that runs on 70% consumers.
    Wall St sold out American and the FANGS are removing the wallets from the Zombie heart land.
    See how “Dick Pic Man” is always photographed laughing with his mouth wide open. He and the rest of Corporate “Crime “ America are laughing at millions of unemployed citizens and their families.

  12. Marius

    Hi Greg,

    Thank you for another great interview. Peter has great insights and understanding of the markets and that is not always what people want to hear, but he is right.

    It is wise to have savings to absorb the unexpected price increase of food, goods and services and also to enable one to help others in dire need. Your advice not to have much debt on your home, car and other movables is sound advice, your dad was a wise man. Because if the debt is not paid then the creditor may sell or take your property as security to cover the debt and you may still be on the hook for the balance owing and to pay that off in future, plus interest and (legal) costs. Many people do not realize this harsh cold reality of the nature of debt until it is too late.

    The South African Government’s response to the Covid-19 situation and the pursuant lockdown will have long lasting negative economic consequences here, with many small and medium businesses having to close their doors and many many people in poverty and starvation. In South Africa Business Rescue and Bankruptcy is real and it has huge financial consequences for the creditors to those businesses. This gives a snapshot of the current stock market, which is a bloodbath save for the mining stock and a few others. https://tradingeconomics.com/south-africa/stock-market

    What Peter has mentioned happens very quickly and you must have your position in place to optimally gain from it.

    Many South Africans know that it makes a lot of sense in this environment to swap fiat legal tender to gold legal tender, in order to preserve your purchasing power. It is talked about openly on the business news for those who care to heed the warnings and act on sound advice. So this is what this exchange will cost now locally in ZAR terms: https://scoinshop.com/collections/bullion/krugerrand .

    This swap is permissible in terms of Section 17 (2) of the SOUTH AFRICAN RESERVE BANK ACT 90 OF 1989 “A tender, including a tender by the Bank itself, of an undefaced and unmutilated coin which is lawfully in circulation in the Republic and of current mass, shall be a legal tender of payment of money – (a) in the case of gold coins, in settlement of any amount, and the value of each gold coin so tendered shall be equal to the net amount at which the bank is prepared to purchase that gold coin on the day of such tender thereof;”

    The gold price per Oz in ZAR increased by about ZAR R12 644 or by about 65% in one year from R 18 339 to R30 984 per Oz . At the current ZAR / USD exchange rate that is an amount of US$718. I refer to the official South African Reserve Bank Data year over year. https://www.resbank.co.za/Lists/News%20and%20Publications/Attachments/9916/April%202020.pdf https://www.resbank.co.za/Lists/News%20and%20Publications/Attachments/9231/April%202019.pdf

    The prime lending interest rate has been lowered by 275 basis points over the past year – https://www.resbank.co.za/Research/Rates/Pages/Rates-Home.aspx The Bank Deposit Rates have also plummeted from about 5.25% to 2.5% https://www.capitecbank.co.za/global-one/save/transaction-savings-account/ While the inflation rate is at about 4.1 % for March 2020. So in effect South Africa has negative real interest rates on fiat currency, if the exorbitant banking charges are included. Holders of fiat currency are being robbed in the current situation.
    South Africans are waking up to this at an alarming rate, and this may cause social instability going forward. So please do keep an eye on the news in this regard.

    Please folks, in the US, take heed of the situation in South Africa. Because we have leftist government policies in place with trading ties with China and the Covid-19 situation is bringing the true colors of the leaders in to the line-light with their irrational and unreasonable regulations and heavy handed law enforcement, which in some instances are similar or worse than to the police behavior during the 1980’s when there was a state of emergency declared under the previous oppressive regime.

    Please keep up the good work by informing folks about the truth during these times of trouble and may God bless you and keep you and your family safe during these unprecedented times.

  13. Brendan James

    Once again Peter Schiff hits a home run. Of everyone I listen to, Peter is right at the top of the list. Fantastic interview Greg, and a good blend of talking and letting Peter talk. Well done to you both. Very wise advice and you covered a lot of bases! Thank you.

  14. Self Exiled

    My grandfather and Schiff have the same opinion of Roosevelt. When I told him what they were teaching about Roosevelt in my undergraduate studies in the 60’s he clacked his teeth and rolled his eye’s and said ”bullsxxt, he was a dxm socialist and would have sold his mother for a dime.” I’ll never forget. My grandfather was the ultimate conspiracy theorist before the CIA thought of the misinformation term. He absolutely hated the Federal Reserve. He managed to keep his farm during the depression, three sons served in WWII and he lost two of them. Being a History Major and a Political Science Major he was a great source of reference.

  15. A. E Jones. JR

    All of that gold and silver and no toilet paper, locked in your house and nowhere to go. Without utility gold and silver are just a security liability. You people take the gold and silver and I will take my freedom and security.

    • Charles H

      For as long as it lasts….

    • Bill the Cat Guy

      Gold and silver have value during hyperinflation, during a collapse, and after the government gets going again. I have gold and silver. I also have toilet paper, stored food, guns, and ammo too.

    • Jay Jackson

      without capital in hand after an economic storm passes, civilization cannot get rebuilt. The whole reason there are recoveries is because people had a means of wealth storage for use in the future. …. Under your reasoning, you will be just as bad off in the future as you are huddling your toilet paper.

      Guys who lack wealth, like to assuage feelings of poverty by saying money doesn’t mean much. Guys who cannot attract sexy, beautiful women like to say it’s only a woman’s personality which counts. Guys who take Greyhound because they cannot afford to drive nice automobile like to say that they are being with the people & etc. …………. All the ways the ego makes excuses for not stepping up one’s game and becoming a man of action and American style industriousness.

    • K. Wayne

      When the Government nationalizes the Gold Mines …then you will understand the meaning of Utility.

  16. Self Exiled

    Measuring the anger coefficient in the US.

    https://www.youtube.com/watch?v=l6EGhBy8EqE

  17. al

    Yes Peter, I can’t believe they kept kicking this can down the road for a decade as well but remember, Aug 2007 Bernanke was given full reign over monetary policy in which the Fed CONTRIVED AND COLLUDED a plan with the World’s Central Banks to keep this BS going forever until a catalyst was present. Since they couldn’t get Trump to start a war, we got a PLANdemic called Covid19.
    I was out there protesting back in 2007 with the Tea Party which started during the Bush Administration mainly because of the QE (called TARP/TALF/etc…) Mr. B.S. Bernanke put forward. There’s a traitor if I’ve ever saw one, and an Enemy of the People.

    Peter Schiff helped me not only keep my standard of living, but raise it from 2007 on. His astute observations and tacit advice got me to sell my home when home prices were high in 2006, take the profits and buy PMs and rent until 2011. When the coast was clear I purchased a home at the low. I still have my stack of PMs and thank him very much for all the great information.
    I send people to his site and podcasts when asked what they should do with their money.

    I have ONE EXCEPTION though. Trump wasn’t voted in for the economy, everyone knew there was a problem with government and media corruption. What got him voted in was “she should be in jail”, remember that? Also, the fact that he acknowledged that the media is the ENEMY of the people. Fake News!
    The economy was the last thing on people’s mind when they voted for Trump. They were sick and tired of the corruption and lies, and wanted JUSTICE!

    People are making an average of $3,000 / month on unemployment. Wages have to increase in order to attract workers, that’s a given, that alone would spark the inflation and hyperinflation finally coming.

    Peter Schiff is a great Man like his Father who basically gave his life for what was just. I hope the very entity who ruined his Father’s life gets what it deserves, death!
    END THE FED, END THE IRS!!! TRUMP 2020 and beyond…

  18. viva

    Approaching one hundred percent of oil transactions are in dollars. Eighty percent of international deals are in dollars. Over sixty percent of world central bank reserves are in dollars.

    Schiff, whom I immensely enjoy listening to, sees only the US economy as the endpoint for all those dollars. But the reality is that the dollar is a world currency. China’s yuan and renmembi are pathetic in comparison and with the recent virus attacks by China on the world, as well as its twenty year history of espionage, stealing and cheating on trade, the dollar will continue to ride high for some time.

    For how long? What goes up must come down. But it could be decades before the dollar is scrapped. In the meantime, exercise prudence and live your life according to biblical principles.

    • Charles H

      Viva,

      You describe only one aspect of the Dollar – it’s positional use by percentage. If you examine the Dollar as a Ponzi arrangement, with all the back-fill underneath by conjuring trillions out of nothing: then it’s abandonment can be quickly accounted. Decades? Not when China can say: “show us the gold”.

  19. Lazlo

    You’re doing God’s work, Greg. I’m humbly grateful. I already know what Peter’s position on Bitcoin is, but I’d like to know what happens when metals are no-bid? What’s the safe haven after metals can’t be had.
    I have No Fear.
    Thanks Greg!

    • Bill the Cat Guy

      The dollar might not be dead in 3 months but it will be dead within 3 years. The statistics you cite are much higher than reality. Jim Willie from the golden-jackass.com claims that China is already trading with some countries in their own currency or through a gold trade note that requires countries to settle trade deficits quarterly.

  20. Jerry

    Greg,
    You can ignore this all you want to, but the central planners are going to reset the system, using digital currency within in the next few months.
    https://cointelegraph.com/news/jp-morgan-cbdc-threatens-hegemony-of-us-dollar

    The truth is the coronavirus is, and has been, a cover for the global economic collapse, and reset, the whole time. Period end of story.
    This whole thing started with stock buybacks, leading to bank repos last fall, to the meeting of the World Economic Forum in Davos in February. Then bingo, bango, the coronavirus was unleashed on the world.

    Do I think President Trump was involved? No. But let’s be honest, he was selling snake oil to buy us more time, before this all happened by saying this was the greatest economy ever! Really? Then why was liquidity cratering? Why was the Fed doing repos? Why were interest rates parked at zero? The truth is he inherited a mess he couldn’t fix, and with it a global currency reset that was already in motion,

    Where we go from here, has probably already been determined by the globalist, and there’s nothing President Trump can do, but try and keep things together by spinning a positive story for as long as he can. I know a sales job when I hear one, whenever President Trump talks about a vertical recovery. Really? The last time I checked, banks don’t take I.O.U.s and could care less about your financial problems. Here in Missouri banks can file for foreclosure within 30 days of default. And guess what? They don’t accept half payments. What a joke. Restaurants opening to half capacity with social distancing. Church’s opening with social distancing. Right? Like Little Johnny won’t be crawling all over me when his mother isn’t looking.

    My prediction? We’re on track for mandatory testing by the end of June, after the second wave of the coronavirus hits from reopening during Memorial Day. It’s on page #18 of the Rockefeller white paper that was put out in April if you want to check it out.So far they haven’t missed a beat. As far as the reset? The central banks are planning on going to digital blockchain banking by the second
    quarter of this year. If J.P. Morgan Chase says so, I wouldn’t bet against it. As far as gold Greg? I used to believe in the golden rule. He owns the gold makes the rule. Now I believe he who makes the rules determines what the price of gold is, and what the price of a human life is by doing business during a plague? My son believes it’s all made up B.S. but that doesn’t change the fact that people are still dying, even if the numbers are made up. After all, isn’t it all fake anyway, since we have endless Q,E. and debt that doesn’t seem to matter anymore?

    • Jerry

      We’re always a month behind China.
      https://youtu.be/mlaj9LzHLhU

      • MCasey

        Jerry…..re: “We’re always a month behind China.”

        Coincidentally, I had an occasion to start tracking news out of China in early January, just as clips of the virus activity began to appear on social media. I was appalled at the procedures China was implementing ….quarantines, lock-downs, arrests, horrendous hospital scenes, barricades, etc. My thought was, “thank God I live in America”.

        Only to start observing the same processes in America as the virus progressed here. And, I thought to myself, “we’re following the same pattern as China”. In fact, the entire world is following much the same pattern. This is a world-wide exercise. So, I’m expecting “Wave Two” as well.

    • Jerry

      Want more proof?
      https://www.forbes.com/sites/lukefitzpatrick/2020/05/23/circle-bank-of-england-imf-wanxiang-pboc-to-discuss-full-reserve-banking-narrowbanks-for-digital-currency-and-the-china-model/#3e7790c47755

      Folks America has been backstabbed by the globalist and their friends in congress. Just remember Donald a Trump wasn’t supposed to get elected. But how does one man take down a one world government run by Lucifer? Get you spiritual house in order. There’s only ONE who can.

      • Charles H

        Jerry,

        As the Fed is buying up everything – for exactly nothing: they will own the Western World through Debt slight-of-hand. And the devil…. shewed unto him all the kingdoms of the world. And said… All this power will I give thee, and the glory of them: for that is delivered unto me; and unto whomsoever I will I give it. The system of fiat money is such a carrot for those who know nothing of Truth.

        I remember years back, that dissenters and critics tried to run you off this site: but you stuck. You have been a pillar and great source of information. It has been a real encouragement to me to follow you here.

        CH

        • eddiemd

          Agree. Jerry has always provided good posts.

        • Jerry

          Charles H,
          Thank you. I have no agenda. No book to sell.
          My purpose here is the same as Gregs. Warn people so they can save themselves and their families from the coming calamities. My conscience will be clear when my last post is made. Again. Thank you.

        • Occasnltrvlr

          Mr. H,
          Jerry has an alarmist and myopic point of view, and has consistently been wrong about virtually everything he’s predicted or implied. For example, by this time,
          -the USD has been displaced as the world’s leading reserve currency
          -Yuan-denominated bonds have supplanted USD-denominated bonds
          -the petro-dollar has collapsed
          -China now backs the Yuan with gold
          -the Shanghai Gold Exchange has overtaken COMEX
          -military tribunals are taking place on a large scale

          Even in this most recent post, he states “this all started with” while writing about a global reset. But, several years ago, as this GCR was expected, it had started with many, many other things.

          The end of the current monetary system will come, and there is a slow, grinding reset taking place. But, getting more specific than this poses a challenge to many.

    • Jerry

      Reverse….Reverse..Psychology …or
      ……..a setup ?
      https://www.newsweek.com/after-weeks-silence-dr-fauci-totally-favor-us-reopening-if-done-proper-way-1506076

    • SolarGuy

      Thank you for your posts Jerry. A lot of good points and information.

  21. John

    More of the same from Peter Schiff. Not saying he’s wrong but it’s the same old worn out tune for what seems like 10 years.

    • Diane

      You’re right John

      • Gary C

        Unfortunately Peter does not track capital flows like Armstrong, and that is the weakness of most anaylists. Swiss National Bank just added to its
        80 billion hoard of US Stocks, especially the Fangs.
        When the Euro Craps out, what are investors going to do, buy government bonds with negative interest rates, nope it will go into US stocks

    • FC

      That’s because we have, More of the same from the Fed. Not saying they’re right but it’s the same old worn out printer for what seems like 10 years.

    • H. Craig Bradley

      Where is the Beef ?

  22. H. Craig Bradley

    NO MORE HEROES

    As we speak, the U.S. Senate is considering as second stimulus act ( “Heroes” Act ) that passed Congress ( another $ 3 Trillion ). Dumb and Dumber?. The insiders know we have launched a global depression for the next 2-3 years. They could spend $ 20 Trillion more and its still Deflation (for now) and Depression. Inside Nancy Pelosi’s Act is a tidy sum ( $ Trillion) for public employee pensions to keep retirees happy and funded. Otherwise, taxes go up even more than they are likely to anyway next year.

    So, what (good) choice do we have at this juncture? You can see politicians are panicked and the “Deep State” just shot the ball out of the park and into the grandstands for a home run. Just wait until the homies come out of St. Louis and ravage (your) farm for anything they can find or eat. ( Plague of Locusts). Alternatively, a possible Mad Max Scenario for America. “Interesting Times”, indeed.

    https://www.youtube.com/watch?v=4gi_IGuKx4U

    • Her Majesty's Regent

      Jimmy Carter, as I live and breathe.

  23. Benjamin Johnson

    I’m a few years from retirement, i feel very secure owning Gold, lots of silver, platinum and palladium, hope all of us stackers have a happy retirement.

  24. H. Craig Bradley

    Boisterous Laughing Behind the Curtain at the Plebes and the “Quantity of Money Theory of Inflation” According to Economist Martin A. Armstrong, gold only goes way up (spikes) after public confidence completely collapses. We are not there yet. I say, 8 more years of pain ( House of Pain):

    https://www.youtube.com/watch?v=QvQDNPans2A

    • JC

      H. Craig, why would anyone make a one hour video of devil laugh? Do you expect us to listen to this for an hour? Are feeling alright?

      • H. Craig Bradley

        No, but I could play it late at night in my backyard on Halloween Night. It would be a hit with my neighbors for sure ! Feel’in Good in the Neighborhood.

  25. Bill the Cat Guy

    I expect gold and silver to rise exponentially once price suppression ends. Silver will return to its historical trading range with gold of somewhere between 8 and 16 ounces of silver per ounce of gold. I also expect a real estate crash since real estate in many parts of the country is at all time highs. You can expect a huge increase in buying power of gold where it comes to real estate. In past hyperinflationary events around the world you could buy a home for a single ounce of gold. What if you could buy an awesome home in an expensive subdivision for 10 ounces of gold or even as much as a monster box of silver? All the world’s central banks are hyperinflating their currencies. When Weimar Germany had hyperinflation they got Hitler. When the world has hyperinflation we’ll get the anti-christ along with a one world government.

    • H. Craig Bradley

      ANT FARM

      What we probably will get post 2032 A.D. is a war with China + Russia who will, interestingly team-up to take down the U.S. Military and our power and comm. grids. Our cities will also be subject to a biological weapon release from the Chinese which will take-out the remaining civilian population but leave the infrastructure and buildings in- place.

      Once the U.S. Military has been “decapitated” by China and Russia, then the world will embrace a U.N. with an army to keep the global order in their new one world government. Next comes the Anti-Christ. He probably won’t be a (North) American either. Maybe a dark skinned Syrian or even a Jew. After all, the Book of Revelation prophesizes in the End Times the Jews of Israel will worship the Anti-Christ as their King and Messiah and be fooled one last time. Then comes the real deal and Judgement Day.

      The upper level Chinese Military commanders want to “cleanse” America, then occupy it. The Communist Central Committee in China views Americans as “vermin”. Even though they smile, they actually (quietly) despise us all. We are easy to play for profits or market share for U.S. Multinationals.

      So, think of North America is a big (black) ant farm and the Chinese Communists as the Red Ants. The Red Ants overpower the black ants and take over the ant farm. Remember the days as kids when we played with an ant farm? Maybe its one reason why Alibaba named a financial services affiliate “Ant Financial”?

      Just remember, the Chinese are immutable and deceptive (sneaky), while we are emotional and reactive ( time frames of an individual or maybe as long as 1-2 generations). If you see their actual nature and modus, then you might have a chance of surviving WWIII, albeit a relatively small one.

      • Sir Manley Robinson

        The Chinese are ‘deceptive and sneaky’ are they? Why does the west have to lie to start its illegal wars in the middle east? Weapons of mass destruction? Spreading democracy? Hardly straight up is it? Not happy with this the west has to fund terrorists in an effort to create regime change in Syria and don’t forget 9/11.

        • Occasnltrvlr

          Sir Robinson, there’s nothing the least bit deceptive or sneaky about the actions you’ve cited. They’re obviously blatant lies and every thinking person knows it.

          Dishonest and contemptibly dishonorable, yes, but not even the least bit deceptive or sneaky.

          • Sir Manly Robinson

            fair point!

      • Occasnltrvlr

        Is this Joel Skousen?!?

  26. daniel j turner

    The black swan everyone was looking for came but in a form no one expected.
    As to how Sweden managed their part of the pandemic the government may have kept controls loose but the people took matters into their own hands and were much more strict and that can be seen in the economic reports from different sectors in their country.
    The world has lived beyond its means for a long time and it looks like it has caught up but will the US end up in worse shape overall?

    • H. Craig Bradley

      AMERICA’S STARTLING POLITICAL REVERSAL

      Swedes have collective “common sense” and take care of themselves. In contrast, the majority of Americans need to be told what to do and then obey their “orders” from on-high. (Prole, put-on your mask ! ). Swedes do not need a “nanny” while too many Americans need the “Nanny State”, such as in California or New York.

      In addition, most Americans still believe the Swedes are “socialists” but that has not been true since the 1970’s. Meanwhile, America has moved way over to the left politically, thanks to a great many Democrats. Today, Americans are now the new socialists. The world has changed and most importantly, America has (radically) changed. Democrats of today are not centrists, but actually have a Marxist Agenda ( Speaker Nancy Pelosi)

  27. Bill's Stilled!

    Economics
    World Faces Rare ‘Inflationary Depression,’ Says Keynes Scholar
    By Alaa Shahine
    May 6, 2020,
    Historian Skidelsky says inflation or tax can pay for spending
    He says powers of money creation are ‘uncomfortable but true’

    The world economy could face a unique “inflationary depression” as it emerges from lockdowns, with government spending propping up demand even as unemployment soars, according to economic historian Robert Skidelsky.

    What makes the economic shock from the coronavirus different to the Great Depression, he said, is that shuttering industries to control the disease has yet to cause a plunge in purchasing power — largely because governments have stepped in to subsidize wages.

    In Europe alone, that support has so far saved about 40 million jobs. It’s also going to push prices up, according to Skidelsky, author of a three-part biography of the British economist John Maynard Keynes.

    “As we come out of the lockdown, there is going to be a depression and inflation at the same time,” he told Bloomberg TV’s Tom Keene and Francine Lacqua in an interview. “It’s very, very interesting, but very stupid!.
    https://www.newsmax.com/finance/economy/world-inflationary-depression-keynes/2020/05/06/id/966367/

    Will it be an Inflationary or Deflationary Depression?
    by Doug Casey
    https://internationalman.com/articles/will-it-be-an-inflationary-or-deflationary-depression/

    The Top Banana
    by Jeff Thomas

    big banana US
    The United States emerged from World War II as the top banana. Having entered the war late, it not only was in the enviable position of expanding as a manufacturing nation to supply the allies with war materials, it also insisted on being paid in gold for whatever it shipped. (Pretty nice deal.)
    https://internationalman.com/articles/the-top-banana/

    REMEMBER THE GOLDEN RULE?
    He Who Owns The Most Gold Rules

    For three years the talking heads, Mike Morell started as a pysop’s operation. Like he started in Syria. Have accused Donald Trump of kissing Putin’s butt.

    We are now in that position to have to kiss butt, because Russia has the most gold and the most Nuclear weapons and the only HYPERSONIC> Not bad for what we call, just a gas station and they are the only thing between us and CHINA! Thank you president Obama.
    https://internationalman.com/help/doug-casey-economic-collapse-video/
    BUCKEL UP!

  28. The Mudd Faced Boy

    BREAKING! BREAKING! Perfect Cover!
    CHINA ON THE MOVE! DEAD MAN WALKING!
    ‘This is going to get ugly’: Hong Kong’s political freedom is ‘finished’
    •May 23, 2020 Sky News Australia
    https://www.youtube.com/watch?v=sP90zfgiTc4

  29. RIverman

    Greg in times of uncertainty everyone has an opinion, process and or conviction as to what the future holds. I am no different. The paradox the stands before us that no seem to connect is this. The current economic malaise has important parallels to the pandemic. The constant narrative was to flatten the curve. The same could be said of the economic pandemic. The current infuse of liquidly could be a flattening of the business failure curve giving the economy time to stabilize in between waves of insolvencies. The PPP could be a way to stager the waves of unemployment. The fact still remains inflation of the monetary base aggregates does not broadly transfer into price inflation without a dramatic increase of the Velocity of M2 Money Stock. The Velocity of M2 Money Stock has been falling since 1997. Our nations demographics have played a major rolled in this decrease. The chances of a long-protracted decrease in economic growth would seem likely. Once the insolvency has been washed out of the system and real growth appears at that time inflation will become a concern. Until that time we will see tough times for generations of Americans who have not seen them before. Thank You for what you do.

  30. The Mudd Faced Boy

    There is a ‘frightening bigger picture’ behind Beijing’s threats
    549,757 views•May 13, 2020 Sky News Australia
    https://www.youtube.com/watch?v=6OpXA42jcU4

    • Crowd Strike

      Economics​—“The Dismal Science”

      RECESSION, depression, inflation, stagflation, zero growth, negative growth​—all of these are dismal words used in what one man called “the dismal science” of economics. But what really lurks behind these intimidating terms? Does the science of economics have any solution to the problems most of us are facing?

      Lionel Robbins, an English economist, defined economics as “the science which studies human behaviour as a relationship between ends and scarce means which have alternate uses.” All of us have “ends,” that is, things we need or want. And these “ends” are virtually limitless. On the other hand, our “means,” such as our income, are usually very limited.

      Take, for example, a man who sits down with his family for breakfast and finds that there is very little honey to go with his coffee. He is now faced with an economic decision. How will their scarce “means” (the honey) meet everyone’s “ends”? He may decide that everyone should take just a little. Or then again, he may decide that he wants it all. Mother, however, may want the honey for cooking. So economic decisions are not solely the domain of an intellectual elite.

      When you are discussing economics on an individual basis, such as for households or consumers, you are studying what is called microeconomics. When the same principles are applied to broad groupings of individuals such as a nation, you are dealing with macroeconomics. But do not let the technical jargon fool you, for economics is hardly a precise science. An observer once said that if you ask six different economists for their opinion, you will get seven different answers. Nevertheless, it is worth learning something about this science.👨‍👩‍👧‍👧

    • William Stanley

      TMFB,
      I enjoyed the linked video. It certainly demonstrates that “economists” shouldn’t imagine that the economy is divorced from politics, including international power politics.

  31. Mike

    I bought gold and silver in 2010 when it looked like the financial system was going to crash due to fiscal insanity. Peter is correct that we will pay for the fiscal insanity but it has taken an unbelievable long time for main street to feel the pain. It is sad to say, but there is no political will for a return to fiscal sanity without main street feeling the pain. Peter worries that people will turn to socialism when main street finally feels the pain but Trump has clearly stated that socialism will not happen. I am curious to watch the Trump plan unfold but it looks like it will get a lot worse before it gets better.

  32. Bill the Cat Guy

    I’d stay away from gold stocks. The countries where the mines are located will nationalize the mines when gold really takes off and the countries are in big trouble.

    • daniel j turner

      Bill cat guy, That is the danger or they might tax the miners to death.

  33. Goober Peas

    “BAD OMEN”
    #StandWithHK #USChinaConflicts #Lockdown
    Sky Turns Black When CCP’s Biggest Conference Begins; US Says NO to China Wanting Full Control of HK
    206,671 views•Premiered May 22, 2020
    Crossroads with JOSHUA PHILIPP
    The sky over Beijing turned pitch black during a large thunderstorm, as the Chinese Communist Party began its largest annual political conference. Many netizens posted photos and videos of the phenomena, noting it was unusual, and many took it as a “bad omen” for the Chinese leadership.
    https://www.youtube.com/watch?v=Yygzd9-nwuY

  34. James Hastings

    I would watch Mr. Schiff with my father…….back in the early 2000’s. He has a great grasp of economics. There are so many people now, pushing their skills. It can be hard to weed out the inept. I get his email audio cast. Good info.

    Peter Schiff is good as gold.

  35. Keith Wilson

    Well on May 7 usdebtclock hit 25 trillion less than 3weeks later it’s up nearly 500 billion more. Come June the usdebtclock will hit 26 trillion. Looking at Christmas we will be looking at about 29-30 trillion. There is no turning back the economy is finished and half the population is out of work. Banks and the real estate industry will be finished and a depression worse than the 1930s is coming. If you have any commonsense get your money out of the banks and prepare for what’s coming. The US dollar is being printed into oblivion and nothing can stop the collapse. Try to get 12 months of supplies and forget about cable tv,and wasting monies on rubbish like newspapers and magazines. If you have some wealth get yourself out of the cities and hunker down for a couple of years. It’s about to get ugly .

  36. Crowd Strike

    The Future​—Dismal?

    Will there ever be a more efficient allocation of resources? Or a social environment that brings a sense of community and fellowship into human relationships? Will we ever see the day when economics will not seem “dismal” for the workingman?

    Please open your Bible and look up the 65th chapter of the book of Isaiah and read Isa 65 verses 21 through 23. The words are simple, but the thoughts are profound. Imagine each person having his own home and being self-sufficient economically. No monotonous jobs but constructive, satisfying work. An economy that provides bountifully for all! And all of this under a worldwide government of God.​—See also Psalm 72:16; 145:16; Isaiah 25:6.

    We therefore need not be dismayed at the dire predictions of “the dismal science.” The future that God holds out is very bright, indeed, for those who put faith in him and in his purposes for this earth.

    • Greg Hunter

      Crowd Strike,
      There is always a bright future with Jesus Christ.
      Greg

      • Crowd Strike

        Amen Greg! USAWatchdog.com will be there to tell the story I’m sure!

    • MCasey

      Crowd Strike…Interesting how the Democrat Socialist party is trying to duplicate God’s provision with their own ‘social programs’ and ‘guaranteed income’ push….rather like an anti-Christ economic system.

  37. John Henry Stone

    Greg, thanks for getting Peter Schiff in for an interview, he is a prophetic genius and you are genius for having him for an interview. He talked about the older people supposedly dying from the Kung Flu. When I was a firefighter/EMT we referred to the elderly as having TMB (too many birthdays) and it was eventually 100% fatal.

  38. Dave

    Good interview. Schiff is correct that the economy was not robust prior to Covid. The creation of fiat money, massive spending increases coupled with tax cuts for corporations and the upper class led to the largest deficits ever. And that was under a GOP President and Congress. Trump is a big spender and likes cheap money – he praised negative interest rates as they would allow him to spend a trillion on infrastructure. It is all smoke and mirrors. Covid’s arrival has forced the issue. As many financial guys are saying massive tax increases are coming. No matter who is president. More and more states will allow localities, city or county, to impose income taxes. Things like a wealth tax may be in the cards. And on and on.

    My financial advisor is a political agnostic. He is saying expect a Democrat sweep in the fall and an increasing embrace of socialism by the government. Nancy Pelosi has been brilliant in manipulating Trump and the GOP with the Care acts. The enhanced unemployment that Trump agreed to will not go away – it will lead to UBI. It is set to expire soon but the Dems are demanding it be extended through the end of the year. McConnell is insisting on liability protection for large corporations. The GOP will agree to continuing the enhanced unemployment benefits in exchange for liability protections. Senator Rick Scott said this week he opposes this but admitted his fellow GOP Senators may not. It is an election year and Dems will run on UBI, enhanced family leave and more medical coverage by companies. The GOP may run against this but it is a losing position. Bottom line, many feel Wall Street was bailed out and not Main Street. That will drive the fall election. The country is tired of bailing out Wall Street. They want to be bailed out also. Hence rank and file police and fire are concerned about their pensions being saved by Washington and will vote progressive if that is what it takes to salvage their pensions. They are not alone. The income gap has increased in the past decade. The middle class is shrinking. Gerald Celente has warned about this. 2020 will see a populist revolt from the left that will transform America.

    • Charles H

      Political insanity drives the US economy right off the edge of the canyon. Can any of this get walked back or redeemed?

      • Dave

        No. It has gone on way too long. Neither party was ever serious about holding back spending. They figured by the time it caught up with the country they’d be gone. America’s empire has been in decline for a while and, like Rome, it will complete that decline and fall. A new world power/order will rise – likely China. And the cycle will start all over again.

    • Occasnltrvlr

      Anyone who claims that Nancy Pelosi is brilliant is in no sense politically agnostic.

      • Sir Manly Robinson

        but perhaps they have a brilliant sense of humour?

      • William Stanley

        Occasnltrvlr,
        Good kill! Good kill!

  39. Joe Lalonde

    Hi Greg,
    Another problem is that Real Estate is an illusion of ownership.
    The following is a worldwide problem and my research from Canada.

    The current Premier of Ontario, Doug Ford has closed the Ontario Housing Tribunal due to this Pandemic. But this problem is much deeper due to the massive amounts of government and media collaboration with extends from Municipal Leaders to the Prime Minister’s office. 

    Keeping people tied to this illusion of ownership has a multitude of advantages from taxes to movements of its citizens. 

    Municipalities heavily tax the home owners with promises of looking after the infrastructure of water, heat, sewer and garbage disposal. Pet projects have been added over the decades such as arenas and Transportation. In larger cities, even police services are added. These all increase the home ownership costs in a multitude of ways with fees and renewals, etc.

    Banks and real estate have a multitude of ways that fraudulently increases the price of the housing market with government and media collusion. 

    Monetary deflation is due to using the American dominated trading Dollars and paying fees to use this system.

    Real estate inflation is encouraged by Governments, Banks and Real Estate Brokers with media encouragement. A multitude of fraudulent schemes has been used to sell the idea of ownership in a multitude of ways encouraging people to own and stay in these areas. With the suppression of wages, many areas too expensive to live off of them and cover expenses.

    Some areas, the prices are so inflated, that cashing them out can buy 5 other of the same houses in different areas and many have done this.

    I know first hand of 2 different people doing this for different reasons.

    One cashed out his auto dealership in Toronto and bought a business, two houses and a small apartment in Midland, Ontario.

    The other person teamed up with a local real estate broker and was buying up cheap houses to turn into duplexes to charge the highest rents.

    Other schemes such as condominiums and timeshares tie you to a permanent contract that can be passed down to whoever is next of kin with payments that cannot be broken.

    Should you not pay your loan or properties taxes, the property is confiscated and resold.

    The truth will never be published.

    Take care, stay healthy and safe,

    Joe

  40. Bill's Stilled!

    Preparing for Global Economic Reset
    https://www.youtube.com/watch?v=Dltkggh1hJ4

    Those are British troops getting onboard those helicopters. British foot power with American air power, now that’s how you win a war!
    In Estonia Former Soviet State Now On Russian Border
    “And over to Linda with the traffic…..” – “Well we have a lorry with a shedload just past junction 13 of the R684 & a broken down car on the R13 just passed Kihelkond & a A-10 Warthog just landing on the R6 at Harju- Jaani…”

  41. eddiemd

    Foolishness of the world.

    https://www.breitbart.com/health/2020/05/23/harvard-prof-blames-christianitys-malignant-belief-in-afterlife-for-lockdown-protests/

    1 Cor 2:14
    14 But the natural man does not receive the things of the Spirit of God, for they are foolishness to him; nor can he know them, because they are spiritually discerned.

    1 Cor 1:18-25
    18 For the message of the cross is foolishness to those who are perishing, but to us who are being saved it is the power of God. 19 For it is written:

    “I will destroy the wisdom of the wise,
    And bring to nothing the understanding of the prudent.”

    20 Where is the wise? Where is the scribe? Where is the disputer of this age? Has not God made foolish the wisdom of this world? 21 For since, in the wisdom of God, the world through wisdom did not know God, it pleased God through the foolishness of the message preached to save those who believe. 22 For Jews request a sign, and Greeks seek after wisdom; 23 but we preach Christ crucified, to the Jews a stumbling block and to the Greeks foolishness, 24 but to those who are called, both Jews and Greeks, Christ the power of God and the wisdom of God. 25 Because the foolishness of God is wiser than men, and the weakness of God is stronger than men.

    The Word of the Almighty God. The power of Almighty God. The Word became flesh and dwelt among us. Jesus Christ of Nazareth. The power of the Almighty God manifest in the flesh. The Wisdom of the Almighty God. Jesus Christ of Nazareth. His message is foolishness to those who are perishing. His message is a message of love. Repentance. Turn from the things of the world and believe in Him. He will set you free. He has overcome the world. He will dwell in you. Call upon Him. He is near. Always.

  42. Stan

    My dream in life is to debate Peter Schiff. Where does he come up with his ideas?

    • Greg Hunter

      Stan,
      Your dream is stupid just like your short on gold at 1,200-1,300!
      Greg

    • Lucas Doolin

      You actually made me laugh.

    • paul ...

      Stan … Did you ever look at the Ratio of the Dow Jones Industrial Average to the price of Silver? … the number tells you how many ounces of silver it would take to buy the Dow … with regard to your short position in Gold Stan … you should always be “long” Gold whenever you see the Dow/Silver Ratio falling as it is now … especially if it is falling in a Dow/Silver Ratio “zone of well over 1000” … you would have been right “shorting” Gold if the Dow /Silver Ratio was “in a zone below 100” … but this only occured twice in the last 100 years (the 1917 -1921 period … and the 1979 – 1981 period) … you must start using your God given brains Stan or you will soon be in a world of hurt … the “big cap” Gold Stocks are beginning to move out (they always move out first) … but by the end of the year the “small cap” Gold and Silver stocks will begin moving (as the public becomes aroused and begin gambling) … but as always … it is safer to own the “physical metal” (if it is “investing to preserve wealth” you are interested in)!! … https://www.macrotrends.net/2610/dow-to-silver-ratio-100-year-historical-chart

      • paul ...

        To the Silver stackers out there … be aware that when Silver moves into the “Sell Zone” (a Dow/Silver Ratio of between 25 to 80) you must act accordingly … you must keep in mind that the Dow/Silver Ratio is a “moving target” … that is … if the Fed keeps the Dow from falling and it remains at about 20,000 (then Silver would need to be (20,000/80) or $250 dollars per ounce “worse case” … or (20,000/25) or $800 dollars “best case” … however … if the Fed gets us into a hyper-inflationary Zimbabwe Stock Market scenario (with the Fed currently pumping out fiat like water) and the Dow goes to 50,000 or 100,000 … then the “best case” for taking profits in Silver would be at (100,000/25) or $4,000 dollars per ounce!! … what we don’t want to see is the Dow going to 5000 the way Nenner is predicting … because if that happens it moves our Silver “sell point” to (5000/25) or only $200 dollars per ounce “best case”!!!

        • Stan

          Paul: You have no understanding how a modern monetary system operates. You are always referencing some medieval monetary concept like Gold. Wake up and smell the coffee

          • Greg Hunter

            Oh Stan we all know how the digital fraud money printing system works. You are quite pompous if you don’t think we get it.
            Greg

          • paul ...

            Stan … The US dollar is just like Yuan dynasty banknotes … it is the US dollar that is the “Medieval Form of Money” … it is simply “a fiat currency established by government decree (to be money) … the dollar is as fake as everything else the government creates (fake news, fake economic numbers, fake wars, fake plandemics, etc., etc., etc.) with no “intrinsic value” … the difference between fiat money and gold money can be compared by considering what an Annunaki slave owner would have considered wealth … having a “useless eating” slave who would lay around all day not mining or producing anything of value (except for making more “useless eaters”) [i.e. the US Dollar] … or have a hard working slave who mined gold (and didn’t have many children) producing “something of value” to the Annunaki!!

        • Stan

          Paul: When this economy start recovering full steam, Gold will be the last thing you want to own. You wont want to be anywhere near an ounce of Gold unless you’re shorting it.

          • paul ...

            Tell it to the Marines Stan!! … better yet tell it to the Annunaki (the Giants of old who ate men)!!!

        • Gary C

          Paul, I see the Dow at 40,000 with the following caveat.
          Trump Winning the election and the Fed buying everything.

          Either way the global economy will not recover, North America will do a repeat of Japan, no growth as they bought
          50% of their stock market: “Monkey See Monkey Do”

          Goof point about selling Silver , and dam glad I have it.

      • Stan

        Paul: If Silver was such a great safe haven then why was it trading at $50 in 1980 and now barely $17?

        • K. Wayne

          In your words Stan….”The manipulation in the Gold/Silver markets is disgusting”….!

        • paul ...

          Stan … Don’t you understand what I was saying above?? … in 1980 the Dow/Silver Ratio was 23.89 (a definite sell signal) … so selling at $50 dollars per ounce was absolutely justified … however today … the Dow/Silver Ratio is (24,465.16/17.23) or 1419.916 … “way into the buy zone above 1000” … it now takes One Thousand Four Hundred and Twenty “ounces of silver” to buy the Dow … completely insane … silver is currently selling at the cheapest price in 5000 years!! … you know if you look at the US Debt Clock price of Silver ($2,878 dollars per ounce) it is effectively telling us that the “Zimbabwe printing Fed” will drive the Dow up to 71,950 (Dow/2,878 = 25) … close to three(3) times higher then its current price … does this mean you should buy the Dow to make three times your money? … No … it means you should buy Silver now at $17.23 to make 167 times your money (2878/17.23)!!!

          • paul ...

            To the Gold stackers out there … Look at the Dow/Gold Ratio … https://assets.stansberryresearch.com/uploads/sites/3/2020/05/052120-DW-Dow-to-Gold-Ratio.png … the time to be “in” Gold is when the Dow/Gold Ratio peaks “above 15” … the time to be “ou” of gold is when the Dow/Gold Ratio “bottoms below 5” … Stan’s big mistake was to jump the gun and shorted gold too soon … but he will have another chance to short gold when the Dow/Gold Ratio “bottoms out below 5” … the big problem Stan has is that his bankster buddies keep screwing him by printing money out of thin air and buying stocks (raising the Dow) … so Gold has to go higher and higher to have any chance of pushing the Dow/Gold Ratio “below 5” … for example … if the Fed pushes the Dow to 75,000 … Gold would have to rise to $15,000 just to get into the “below 5” sell zone!!

            • paul ...

              You Know … If you think about it (with your God given brains) the banksters could have allowed gold to go higher in 2012 … but they likely didn’t want the Dow/Gold Ratio to go into the “sell zone” … so they manipulated the gold price down and brought the Dow/Gold Ratio back into the “buy zone” in 2019 … obviously because they own gold as a “tier one” asset … they don’t want people like Stan selling it just yet … they need their Gold Holdings “to hold its asset value” through the coming currency re-set!!

    • Ray

      Stan…..
      They don’t allow Flyweights into the ring with Heavyweights mate, because it is pretty bad for their ongoing health.
      But I could look at arranging a debate between you and someone more in your league, like Mr Ed and Wilbur?
      Regards,
      Ray, Canberra, Lap Dog Nation.

      • William Stanley

        Ray,
        I tried, but couldn’t stop myself: I laughed out loud. Good one!

        • Ray

          Hi Will,
          Glad I could bring you a laugh in this time when laughs are needed more than usual.
          Keep throwing out the left jab mate……hope you and yours are well.
          Enjoy the warmer weather……starting to really cool off down here, especially in Canberra!
          Regards.
          Ray.

  43. Russ F

    I have not heard many comments about the reduction in tax revenue that the government is facing as a result of this plandemic. This is still developing as the economy does not recover.
    All those businesses not generating taxable revenue; those that are closed, or those that are still partially operating (i.e. the airlines, hotels, rental car companies that were charging outrageous taxes any time you utilized their services)
    And all those newly unemployed workers not earning a taxable income.

    This must be adding up to massive lost revenue for the government.
    No one is talking about this. Why?

    • Dave

      They are talking about it. Many financial analysts are saying massive tax increases are coming. No matter who wins the White House. States that don’t now allow the imposition of local county and city income taxes will so do. There will be a wealth tax imposed as well as a large increase in the inheritance tax. For too long Dems and the GOP have been on a massive spending spree. The GOP also on a tax cutting spree for the well off and corporations. The latter is absolutely reckless. Tax increases are on the way.

      • paul ...

        OR … they can simply close down the IRS … and print up what ever money they need to run the government “out of thin air” … incresing taxes now along with social distancing will make the 1929 Great Depression look like a walk in the park … Trump said he wanted to make the US “Great Again” … but I don’t think he meant it should be “Greater then the Great Depression”!!!

      • Gary C

        Between State, Province, and Municipalities, 20-40% tax increases.
        In Edmonton they layed off 4000 employees, massive loss of revenue and the Mayer wants to get bailed out by the Federal Government, and raise taxes, cut more services.

        I just encountered a Covid Tax at my Dentist, he spent 10K on PPE
        for the Clinic.

    • eddiemd

      Back in 2010 the city of Phoenix set a food tax of 3%. It is coming again.

      Tourism in Phoenix, Scottsdale, and vicinity have been wiped out. All the hotels in Scottsdale were sold short in March and tourists fled home during spring training. Summer here is the dead season so there will be no recovery in tourism until maybe October/December.

      People have been driving out of Phoenix to Flagstaff, Payson, Sedona, and the mountains.

      Construction and real estate is collapsing here also. I have noted over the past 3-4 many new houses for sale all over the county. No buyers.

      Commercial real estate also going down. For lease signs everywhere.

      But the bars are open. So says the man smoking a cigarette at Home Depot…

      • Dave

        Isn’t Flagstaff quite nice? I live in the Bay Area and ads are running for folks here to move to Arizona. cheaper cost of living, less crowded, better quality of life. They mention Sedona, Flagstaff and Phoenix are places to relocate to. These started post-pandemic and are running all the time.

        The smaller less dense metros will be winners after the pandemic as people look for more space. I assume Phoenix has a relatively low population density relative to most cities. Places like Boise and Reno and Colorado Springs will boom. Eugene also – the folks up there are worried about an influx of Californians. Bottom line, I’d think Phoenix would fare better than most metros.

        • William Stanley

          Dave,
          Please don’t advertise the Reno area.
          Too many Californians here already.

        • eddiemd

          Flagstaff is very nice. If you move from California you can afford to live there. They have no reliable water and everything needs to be shipped in by truck or rail. Very left liberal. Living on a semi-active volcano field that last was active around 1100AD (Sunset Crater). Depends on the type of climate, elevation, and most importantly, water availability.

          Consider places like Bisbee/Palomino/Fort Huachuca, North Rim areas of Grand Canyon (Jacob Lake), Payson or up on the Mogollon Rim (Heber), Page, or Utah along the US 191 from the Arizona/Utah border (Bluff, Moab, Blanding, Monticello). The drive on US 191 from I-40 to I-70 is one of the best drives in the country.

          At around 4000ft above sea level throughout Arizona there are many natural springs. Problem is that they are usually naturally contaminated by Arsenic and in certain areas like up in Navajo Land both arsenic and uranium. When I worked on the Navajo rez in Tuba City I was nominated to oversee a well testing program on the western areas of the rez. Almost all wells had high levels of both arsenic and uranium.

          https://wrrc.arizona.edu/arsenic-groundwater-poses-challenge

  44. Diane

    https://www.facebook.com/727179387/posts/10158583824029388/
    (Diane, This is Greg Hunter and FB is blocking this link.)

    • Rachel

      Hi Diane, It must be only that link. The facebook page is ok. I just went on there and clicked a ‘like” for this podcast’s post. Maybe you can find it on the page.

        • Sheldon Salter

          Rachel the video brought tears to my eye’s. We share so much with your country. It is comforting to know your all there, down in the South Pacific. We also share convict blood. Unfortunately up here, we don’t speak of it much. I think if we were to embrace it like you Australians, we wouldn’t be so crass as to ignore it and hide it, giving us the veneer of such self-righteous prigs. We really aren’t and shouldn’t pretend. I hate to say it, but our leftest brothers here, have this chip, big time, on they’re shoulders and someday, somebody will soon knock it off and he is out of this world. His name is Jesus and his father is, Psalms 83: 18. King James Version
          Watch this video to the Old Bailey in London, not long. Where a YOUNG LADY IS GIVEN A CHOICE FOR MURDER. The gallows or North America.
          https://www.youtube.com/watch?v=phrYEKv0rmw&list=PLZbnOdeGDaDmfUndY3xgENDN_CDgCZ6YN
          May the US. and Australia remain, UNCONQUERED from within!

          • Rachel

            Hi Sheldon, Interesting movie. It’s very moving. Makes us all look like wimps.

            • Rachel

              I think the US and Australia need to try to be unconquered by China!

  45. john duffy

    What are the signs that indicate the harvest is ripe? Saint Bernardine lists seven:

    1. The existence of many horrendous sins, like in Sodom and Gomorrah
    2. The fact that the sin is committed with full knowledge and deliberate consent
    3. That these sins are committed by entire people as a whole
    4. That this happens in a public and shameless manner
    5. That it happens with all the affection of the heart of sinners
    6. That the sins are committed with attention and diligence
    7. That all of this is done in a continuous and persevering way.

    This is the hour in which God punishes the sins of pride, luxury, and avarice with the scourges of plague, war, and famine.
    https://catholicismpure.wordpress.com/2020/05/23/the-judgement-of-god-in-history/

    • paul ...

      John … Atheists likely think that “Alien gods” (the Military is finally admitting to) gave us the 10 Commandments to live by (that they knew we could never keep to) so that we would “go more willingly” when these Alien farmers decided “it was harvest time” … could this be the crazy reason the Atheist Globalists spread the Corona Virus worldwide? …” To Prevent a Harvest Time Rapture”?? … but … the Atheist Globalists forgot to consider that when a herd is infected by virus (like when pigs get swine flu) the herd is usually exterminated … so much for the Globalist Atheists trying “to prevent” a Harvest Time Rapture … unless??? … they believe Trump will succeed in developing a strong and effective Space Force (able to keep the Aliens at bay and away from using planet Earth as their food source)!!

  46. Howard Doodle

    The Parallels Between Brazil & the US Are Frightening!
    5/24/2020
    Have the globalists declared war with the world? You’ll soon find out!
    https://www.youtube.com/watch?v=BS2GHR2t7ss&feature=push-lsb&attr_tag=GWKQZM699VsPqhX1%3A6

  47. Selma Alabama

    Dave Portnoy unloads on Fauci in blistering rant on ‘Tucker Carlson Tonight’
    725,800 views•Premiered May 22, 2020
    https://www.youtube.com/watch?v=Cuxi4c0dUOk

  48. Darren

    Greg….No one cares anymore……..Print x10 to the enth power……….As long as there is ink at the Fed…PRINT AWAY…..I am an essential worker for Defense and Military contracts..I could work 60 hrs a week easily….Even if the whole things collapses….and we get 80% unemployment…..it wont matter…….Socialism is inevitable….

    • Dave

      It is not that no one cares. They do – for themselves now more than ever. They see the wealthy getting more so during the pandemic as they struggle and lose jobs and businesses. UBI is now supported by a majority of Americans and, why not, the government subsidizes too big to fail banks and companies. It’s time for the average Joe to get some of that government largesse. A majority now support a much more progressive income tax structure as well as confiscatory “death” taxes. This is a reaction to the greed of late stage capitalism. Mammon ascendant. We live in a late stage capitalist culture. One that feeds on itself by promoting a ceaseless invention of ever new desires and wants. It is corrosive of those institution which tend to restrain absolute physical wants and desires. Hence religion and specifically Christianity collapses in late stage capitalistic cultures. We have seen that in the US. Among millennials “nones” now outnumber Christians. The individual wants unrestrained access to “things”. Things they quickly tire of and go on to new things. It is me, me, me. I see that with police officers I am friends with. They voted for Trump last time but this time they are voting for Biden as he will save their pensions. That is all that matters – that Biden is pro-choice they don’t care anymore though at one time they called themselves pro-life. Bernie Sanders was right in reading the signs of the times – Americans are ready to embrace democratic socialism. .

  49. wade

    The minimum amount of gold that can be bought on Schiff Gold is $18,000. Seems a little high for the average person wanting to buy some gold coins.

  50. lightning

    https://pjmedia.com/news-and-politics/tyler-o-neil/2020/05/23/dems-block-house-investigation-into-chinas-coronavirus-lies-and-malfeasance-n421900

    SO the Democrats don’t want the US to investigate the origin of a virus that resulted in the deaths of 100, 000 Americans, and that resulted in a lockdown that resulted in 30 million people being unemployed .

    Seems like they have something to hide.

  51. lightning

    California Governor Newsome is paying illegals $125Million while homeless veterans sleep in the gutter throughout California.

    https://twitter.com/i/status/1264617716251418624

    Didn’t the Supreme Court recently clarify that its a felony to enable an illegal immigrant.?

    • Sir Manley Robinson

      Why do people join the army in America if that’s how they are treated? Didn’t they learn from Kissinger’s ‘dumb animals’ comment?

    • H. Craig Bradley

      PEASANT’S STATE OF CALIF.

      Gov. Newsom is our “Wine Bar” Governor. He owns a couple of Napa Valley Wineries. ( Napa Valley has unlocked their restaurants and tasting rooms, but not in other Northern Calif. Counties). Its nice to be King.

    • H. Craig Bradley

      Felony Criminal Offenses ONLY apply to you and me ( the ordinary folk ).

  52. Mike R

    One of these days, this guy Schiff is going to be right about inflation. The poor guy gets railed on by people like whats on CNBC, and amazingly, the dollar remains inflated (propped up) year after year, despite all the QE and ‘printing.’ I would have thought the dollar would have dropped like a lead balloon by now. Even more amazing, is that gold keeps on rising, despite dollar strength, so it keeps killing shorters of gold like Stan. Its all fun to watch. Peter is a good guy though, and I think he is one of the few honest people left who talks on media regarding financial issues, and in particular our government’s recklessness.

    • H. Craig Bradley

      As the saying goes, a broken clock is right twice every 24 Hours.

      • paul ...

        H. Craig B … That broken clock is right 730 times a year (a lot better then our “broken” Senators Pelosi and Schumer) … even a President being right 2,920 times every four years is pushing our luck (and probably why the Founding Fathers were for term limits)!!

  53. eddiemd

    Served with Honor.

    CPL Hasenfus RIP warrior.

    He died under mysterious circumstances in Lebanon. An AD (accidental discharge) they told us.

    https://army.togetherweserved.com/army/servlet/tws.webapp.WebApp?cmd=ShadowBoxProfile&type=Person&ID=331049

    MSG Hornbeck. A dedicated soldier and father. RIP.

    https://army.togetherweserved.com/army/servlet/tws.webapp.WebApp?cmd=ShadowBoxProfile&type=Person&ID=34085

  54. JW

    Trump could go down as one of the worst presidents ever. Ya ya Greg. There’s his TPP victory and the Paris climate thing and the Iran agreement thing. Trumps YUGE list of accomplishments in all 4 years. Big deal. How will those accolades compare to the socialism, the $10T in new debt, the loss of liberty, loss of freedom, loss of economy, loss of capitalism, loss in dollar value, etc that happened under his watch ? PS Greg. Be sure to call me a weasel because I’m not a deaf blind kool ade drinking trump worshipper who is scared to death of the red pill. Name calling is just proof you can’t handle the truth.

  55. Self Exiled

    “The best corona-virus pandemic modeler in the world is an anonymous account on Twitter”

    https://www.rumormillnews.com/cgi-bin/forum.cgi?read=147344

    https://twitter.com/EthicalSkeptic

  56. Self Exiled

    When it comes to Bar : well maybe, US Attorney General to address Section 230. we’ll see.

    https://banned.news/2020-05-18-us-attorney-general-to-address-section-230-big-tech-censorship.html

  57. Self Exiled

    The Air Force is projecting power throughout the Pacific Theater and beyond like never before.

    https://www.thedrive.com/the-war-zone/33637/b-1b-bomber-made-bold-flight-into-the-sea-of-okhotsk-that-is-surrounded-by-russian-territory

  58. Russ

    Thanks Greg, it’s always good to hear from Peter Schiff even if it is bad news. Interesting read on ZH this morning regarding the supposed recovery… We’ve all heard prognostications about a “V” recovery and a “U” recovery — what about the letter “L”…

    “An “L”-Shaped ‘Recovery’ Is Not An Anomaly, It Is The Norm…”
    — Zero Hedge
    https://www.zerohedge.com/economics/l-shaped-recovery-not-anomaly-it-norm

    Tearing it all down to start over — pray we don’t end up up with Biden’s handlers running things…

  59. Jon P

    Greg,
    I’ve taken flack for saying this, but I don’t see “Hyperinflation“ in the United States happening. The dollar will remain dominate until the new world digital currency is ready. THER WILL BE NO DOLLAR CRASH before that!
    We have very sick people in high positions. Even with unlimited money creation; they have many ways to contain the cash flow. Thereby, preventing “hyperinflation” They’ve done it time and again.
    It just so happens to be a demand destruction this time.
    In a ll honesty, people screaming, “Hyperinflation“, should be correct. But they fail to understand the tools our leaders can use.
    That being said, gold is my largest investment. As I believe it will go up; as the dollar remains strong!

    • Greg Hunter

      Jon,
      They have printed or appropriated $10 of fresh new digital money–so far. You don’t see the hyperinflation because, as Armstrong said, “The capital destruction is 20 to 30 times that.” Wait until the capital destruction and defaults near the end of this cycle.. Gold is a very smart play my friend and maybe the only one that will save the bacon of people smart enough to sit on that investment play.

  60. Pete

    Great Interview. Best point made was by you Greg. Printing Trillions$ and “NOBODY CARES”. Peter has been spot on for 15 years now. The average person has no chance with the MSM telling them always to buy stocks. Not gold or gold stocks though. Has everyone noticed they are charging sales tax on Silver eagles in most states? It’s Criminal. Good luck to everyone.

  61. Marty

    I’m not buying the hyper inflation and gold to the moon theory… why? because me being on the street see that most people haven’t had money and now don’t have a job. When you have tons of people out of work with no money it is really hard to believe prices are going to go up dramatically… after all the people selling it… need to be able to sell it.

    I’m not buying the idea that millions of manufactures are going to move back to America… sure they might move out of China (maybe) but, I bet they just move someplace where they can get even cheaper labor with no environmental oversight at all… like Africa. I believe the people with money truly enjoy making more money … so, why would they incur significantly higher payroll/benefit expenses by moving to America? and have to deal with all of the regulatory and environmental concerns? Additionally, we Americans are 100% used to buying cheap crap and we don’t have any money to do anything else… we can barely afford the cheap crap… we need even cheaper crappier crap made in Africa!

    I think it is more likely that we experience deflation Vs. inflation because when those 30+ million jobs don’t re-materialize in short order there is going to be millions of cars repo’d and a record number of foreclosed homes … there is going to be trillions of dollars of debt written off the books… just destroyed… that is hugely deflationary.

    Sure, the government will have tens of trillions of dollars of debt – at this point does it make a difference if it is 20 trillion or 1 million trillion? either way it is not going to be paid back… the fed can buy it back and disappear it or they can keep printing it and funneling it to the 1% of the 1% of the 1%… who really cares if the richest people in the world die with 100 billion or 100 trillion (I personally don’t care).

    • Greg Hunter

      Well Marty we will be finding out in the next year of so.
      Greg

    • Pete

      I believe it’s called Stagflation. We just have to look to the seventies to see what’s coming. Hyperinflation depends on the definition you use. It’s Guaranteed with the increase in the money supply. We are most likely going into the worst period in American history over the next 5-20 years. Federal, State, and Local (most of these) governments are bankrupt if we are being honest. The magic money tree won’t save this country. Only smart people who try to preserve their wealth (whether it’s 10000 or 1000000) with gold and silver and other asset classes that work in high inflation will have a chance. Better to try to prepare. GLTA

  62. Dave

    Something to ponder is the Senate. Of the 33 seats up 22 are in GOP hands. Polls, even those favorable to the GOP, show the Dems taking control next fall. Ben Schapiro says it does not look good and he now fears that GOP Senators up for re-election in tight races will vote to extended enhanced unemployment benefits and for big bailouts to the states. Basically go socialist. The other thing some are starting to whisper is the Dems have a shot at reaching 60 seats. It’s a long shot but right now all the movement is their way.

    If the Dems take control of the Senate (and those same polls show them retaining control of the House) Trump’s Presidency will be over, should he win, the day of his inauguration. No judge approvals and a rollback of his agenda by the Dems. In the unlikely event the Dems get 60 seats then impeachment will be on again with a real shot of Trump being convicted. I wonder if he will decide not to run at some point. Maybe to devote himself to fighting the pandemic or maybe he has a health issue. Trump has an ego and would not want to be essentially a placeholder President doing nothing for 4 years or, worse, the first President to be impeached and convicted. It will depend on the White House internal polls at mid-summer. If a Dem wave looks like it is building I can see Trump declining to run again.

    • William Stanley

      Dave,
      It’s been said that the Global-Fascists are becoming increasingly concerned about an implosion of their entire agenda. Indeed, some are “whispering” that Mr. Hunter has been gaining so much influence, that the Global-Fascists are paying him increasing attention and assigning better assets to try to deal with him. Mr. Hunter should be very proud (and so should you): You are undoubtedly the best troll ever assigned to this site.

      • Charles H

        Big talk concerning the issue that a Red Wave is coming hard at the House.

        Just another deceived person who accepted the idea that believing makes it reality.

        If.. if… If. Puff Puff Puff.

  63. SLindung

    Hi Greg, has anyone thought that maybe what is happening to our country is exactly the Cloward Piven strategy?
    “The Cloward-Piven strategy called for purposely overloading the U.S. public welfare system expressly to collapse the system. Once the system and economy had crashed, the true motive could be realized.”
    “Cloward and Piven foresaw rising from the rubble a national system of guaranteed annual income for everyone administered by the government. They said by doing so, poverty would be eradicated.”
    Does this sound familiar?

    • Pete

      I agree with the fact that that is entirely possible. I think this was done on purpose (virus). I think there are truly evil people in this world and they will do anything to get their way. On both sides. The American communists have a plan and they have been working at diligently for decades. Just ask Obama. The globalists are winning. Trump alone can only hope to slow them down. Everyone is so dependent on government that they will all fall in line to keep their SS,welfare,etc. . As far as poverty being eradicated, that is a pipe dream. If anything it will be like the movie “Elysium” with Matt Damon. Thank God for God because the people in charge suck🤮

  64. JC

    What happens to the price of gold when the war starts?

    Martin Armstrong:
    There is clearly a new Cold War that has begun between China and the United States which is not going to end nicely. This is the direct result of this Politically Manipulated Virus.
    Make no mistake about it, this will not be just a war with China – but also against Russia.

    Bill Gates will get his wish. He will be able to reduce the population by 10%-15% by the age-old method of creating war.

    https://www.armstrongeconomics.com/international-news/china/we-are-headed-into-war/

  65. Bill's Stilled!

    https://www.youtube.com/watch?v=3TPlxftYuKE
    prepaussie “leave well enough alone”

  66. Goober Peas

    Australia ‘risking US relationship’ over ‘Victoria’s secretive agreement with China’
    196,507 views•May 25, 2020 Sky News Australia
    https://www.youtube.com/watch?v=N13298QcYdk

  67. Goober Peas

    Federal government needs to ‘interfere’ with Victoria’s China relationship: Han•May 25,
    May 25, 2020 Sky News Australia
    https://www.youtube.com/watch?v=QLSUO12TRes

  68. Goober Peas

    BLACK VOTERS GIVE JOE BIDEN A PIECE OF THEIR MINDS IN DEVASTATING AD
    Democrats think they own the black vote — they are mistaken
    HOT NEWS
    Biden’s latest racist comment happened on Friday during an interview on the Breakfast Club podcast, where he said: “I tell you, if you have a problem figuring out whether you’re for me or Trump, then you ain’t black.”
    TALK ABOUT OLD SEXIST RACIST WHITE MAN
    _____________________________BIDEN TAKES THE YELLOW CAKE
    https://www.infowars.com/black-voters-give-joe-biden-a-piece-of-their-minds-in-devastating-ad/

  69. eddiemd

    An undiagnosed heart condition. Supposedly an electrical conduction problem. Too bad you cannot diagnose an electrical conduction problem after she was dead. Unless the autopsy showed a possible circulation problem, i.e. significant plaque in the system, or anomalies in the coronaries (distribution), or some other structural abnormality, then the speculation that there was an electrical abnormality remains speculation. Especially in a long distance runner. Unless she ran distance that morning and had some electrolyte disturbance that caused electrical problems (low/high potassium, low sodium, etc)

    Trump always has the background. He would not be tweeting such if he did not. He is on the attack on all fronts. We can pray for him.

    It would be very interesting to read the autopsy report. I suppose that Trump and his people have.

    https://www.zerohedge.com/political/trump-doubles-down-media-demands-inhumane-scarborough-murder-tweets-be-deleted

    • William Stanley

      eddiemd,
      Thanks for the analysis!

    • JC

      Diane, forced vaccinations courtesy of Bill Gates, gold confiscation and whatever else. However, “they” can only push people so far… until the people push back. And we will. Perhaps those who are to be vaccinated will turn the tables on the vaccinators…. perhaps the hunters will become the hunted?
      paul… what do say you?

      • paul ...

        JC … The people worried about gold confiscation the most seem to be the same people who completely ignore the confiscation of their wealth by the holding of fiat currency … the US dollar goes from 100 cents to two cents (a real confiscation of their wealth) and worry about putting the two cents that remains of their wealth into gold because “it may be confiscated” … if they do nothing the two cents they still have left will soon be completely gone the way the Fed is printing fiat right now!! … besides gold confiscation would be incredibly cost-inefficient … likely costing more to collect then what they will receive … and how with they implement it (use the Military the way Trump is going to use the Military to force people to take Gates’ vaccine?? … it would be political suicide for any politician to foolishly consider using the Military to collect our gold or inject us with Gates’ Mark of the Beast … gold is and will remain the premiere “safe-haven asset” that protects us from the Fed’s Zimbabwe printing press that will “without a doubt” confiscate the last remaining two cents we all have left to our name … gold (unmatched it its level of security … privacy and liquidity) is the only thing we have (they can’t confiscate if hidden well)!!!

    • Tin foil hat

      Diane,
      Armstrong is too smart to not understand the following:
      Gold was money when FDR confiscated gold/money.
      Why would the government confiscate gold when it’s not money. Money is now back by debts, that means government will confiscate IOU/debts – pensions, SS, 401k in US Treasury, Municipal Bonds, Corp. Bonds, …… Etc.
      If gold were money again, the government has to circulate gold or digital currency back by gold rather than confiscating something which nobody actually owns. With that said, I think gold mines will be nationalized/confiscated.

  70. JC

    Bruce Wild asks…
    So, where do we stand?

    Today we are facing massive unemployment / retailers are closing
    Local stores, the taxes they pay, and communities don’t matter just buy online
    Many small businesses will never reopen following the Covic-19 shutdown
    Travel and many large industries are in crisis
    Governments across the planet, including here in America, now lock people in their homes
    Interest rates have fallen to where people take on huge risk in search of yield
    A majority of Americans now believe the National Debt does not matter / MMT is accepted
    As long as the government will pay people not to work everything will be ok
    While some jobs may move back towards our shores we still remain noncompetitive
    Mega-companies continue to grow in power and dictate government policy
    If not for Central Bank shenanigans defaults would be the flavor of the day
    Pushed ever upward by the Powers That Be the stock market has divorced from Main Street

    http://brucewilds.blogspot.com/2020/05/it-doesnt-matter-what-you-think-reality.html

  71. Pete M

    Another good speaker Greg. Nobody seems to care about the fait of the U.S Dollar, I agree with Peter Schiff.
    According to the U.S Debt Clock.org, the total M2 money supply is today $17.6 trillion versus $4.8 trillion in the year 2000, up almost 400%.
    Today, total unfunded liabilities per citizen ($447,992) exceeds Total National Assets per citizen of $435,290.
    The size of the U.S labor force has declined from 157.8 million in the year 2000 to 123.1 million in 2020 which supports a total population of 330 million, people, but it gets much worse when almost 24 million people today work for the government, and total manufacturing jobs has declined by 50% in the last 20 years.

    Those people not in the work force has increased by almost 50% from 80.6 million in the year 2000, to 117 million today.

    More people than ever count on the U.S Government for support in some form.
    Total U.S retirees 54.8 million. (How many collect a Gov’t Pension we don’t know)
    Total U.S Disabled people 9.9 million.
    Total Medicare Enrollees 60.1 million.
    Total Medicaid Enrollees 78.9 million.
    Total Food Stamp recipients 36.2 million.
    Total U.S Gov’t employees 23.9 million people, (yet to collect on their pensions).

    But what about all the defence industry that counts on the Gov’t support, and now travel companies, airlines, and all the over night loans, government debt, student debt, that needs government help. I probably missed a lot more government obligations, but you get the picture.

    Bankruptcy is a state of mind, and as long as people still have faith in their currency wherever they live, that’s all that matters, as most other countries in the world are in the same boat.

    At least it makes owning silver and gold still a possibility for those people that do get the picture.

    Greg, your news outlet tells much of the truth that is sorely lacking in main stream media…the truth.

    • eddiemd

      You left out the Veterans pensions and disability ratings which continues to grow exponentially. PTSD at the top of the list for payouts over the past 20 years. Add in the cost of VA healthcare.

      Might as well add in the Indian Health Services while you are thinking about it.

      Everybody on the gravy train.

      https://www.youtube.com/watch?v=0efqnvYz4YI

      • Selma Alabama

        eddiemd, I’m sorry my posting on communisms upset you. Last I checked, I’m not a Jw. Cultist. But I do think if they are, they should where it as a badge of honor. As now all true Christians, now are branded as cultists, who don’t worship the state. As for the deity of Christ, he is God’s son. But I will not shun God the father too and as far as the Kingdom goes. Jesus was all about the Kingdom. You know, thy Kingdome come, thy will be done, on earth as in heaven? JW’s I’m sure don’t own it, God’s Kingdom alone! As fare as the piece I quoted from 1950. I found it very interesting. Back then with McCarthyism, the states felt threatened with communists in Hollywood. And today it looks as if the US. is willing to throw in the towel and embrace it, despite the fact president Trump promised we would never be a socialist country and socialism always leads to communism. The article I quoted from the 50’s in further investigation did mention some publications which could be from Jw. but they didn’t name themselves Jw till the 193o’s so it’s hard to tell. Back then they were all considered Adventist’s, or just Bible Students. The article’s posted in that article, just wanted to point out the threat of communism. That it was foreseen over a hundred and fifty years ago, I thought was remarkable and communists hate religion’s that put God’s kingdom above the State. Thank God were one nation under God, eh eddiemd. How long that will last Nancy Pelosi would love to know, I’m sure. As she is always sticking her finger in the wind!
        Thanks eddimd and Greg, Iron sharpens Iron!
        https://www.gotquestions.org/iron-sharpens-iron.html

        • eddiemd

          As I said above, you don’t believe or accept that Jesus Christ is the Almighty God in the flesh. In your own words. Your subtle teaching of the JW’s is within your message. Having been here at this website for years I have seen JWs such as yourself try to pass off your doctrine many times.

          Your writings on communism don’t bother me at all. I was in Special Forces during the 1980’s and our mission was to parachute into the Warsaw Pact/Ukraine, 400km behind the front lines, and destroy targets. The Army taught me to speak Hungarian and Russian. While studying the languages I was required to study the history, culture, language, and political systems.

          I get it. You don’t like being called out for your false doctrines. Break free from it while you can. Pray that Jesus Christ will reveal Himself to you. He is the Almighty God in the flesh.

  72. Kim

    Greg,
    Did you know there is a great article about how to barter PM on Schiff’s website? It gives a widget on how to arrive at a fair price. It was written in 2015. There are more people starting to barter now! There is even a store in Texas that excepts nothing but gold or silver. God Bless!
    https://schiffgold.com/commentaries/gold-silver-barter-all-you-need-to-know/

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