Mother of All Bubbles Too Big to Pop – Peter Schiff
By Greg Hunter’s USAWatchdog.com
Money manager Peter Schiff correctly predicted the financial meltdown in 2008. Now, 10 years later, what does Schiff see today? Schiff says, “I predicted a lot more than just the stock market going down back then. I predicted the financial crisis, but more importantly, I predicted what the government would do as a result of the financial crisis and what the consequences of that would be because that’s where we’re headed. The real crash I wrote about in my most recent book is still coming. . . . This is the third gigantic bubble that the Fed has inflated, and when this one pops, it’s not going to be ‘the third time is a charm.’ It’s going to be ‘three strikes and you’re out.’ I think this bubble is too big to pop. I think it’s the mother of all bubbles, and when it bursts, there is not a bigger one that the Fed is going to be able to inflate to mask these problems, meaning we can’t kick the can down the road anymore.”
This time, the crisis is going to hit everyone in the wallet. Schiff goes on to say, “I think the problem we are going to be confronted with is going to be much worse than a financial crisis. It is going to be a dollar crisis, and it is going to be a sovereign debt crisis where the bonds people are worried about are not some sub-prime mortgages. . . . It’s going to be the U.S. government that people are worried about and the solvency of the U.S. government and the Treasury bonds. If it’s a dollar crisis and people are worried about the dollar, the only thing worse than owning a dollar today is owning the promise of being paid in dollars in the future. I don’t think we have the courage to default and admit to our creditors that we don’t have the money and we can’t repay. I think we will create all the money that we need so we can pretend to repay, but what we end up doing is wiping out the debt with inflation.”
So, how long can it go on? Schiff says, “How high can the debt go? I don’t know and you don’t know. . . .How many straws can you put on a camel’s back? You don’t know until you put that final straw that’s one too many and you break his back. So, can we go to $25 trillion in debt? Maybe. At some point, we are going to break the back of the camel with all this debt. Then we are going to find out how much debt we can pile on, and it’s not going to be pretty. Everybody is going to lose. Everybody is going to get wiped out who has been partying in the stock market, the bond market and the real estate market. The dollar is going to tank, and purchasing power is going to get wiped out.”
Inversely, Schiff says it is the same with the suppressed gold and silver markets. Schiff contends, “They can’t keep doing it, and it will end. It’s just like how much debt can we take on. It’s not an unlimited amount. We will know when we get there. How long can they keep the price of gold suppressed? We will know when we get there. At some point, the price is going to explode because there is real physical buying, and all that paper selling can’t camouflage that. . . . People don’t trust fiat currencies . . . . More and more people are looking for alternatives, and the real alternative is gold. When they embrace it, it’s going to overwhelm central banks’ ability to suppress the price. In the meantime, enjoy the gift that they are giving.”
Join Greg Hunter as he goes One-on-One with money manager and financial expert Peter Schiff, founder of Euro Pacific Capital.
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After the Interview:
There is free information and analysis on both of the Schiff websites, SchiffGold.com and EuroPac.com.
The butterfly flapping its wings in Jamaica will cause an avalanche in the Himalayas.
I.O.U. … The same question can be asked about bitcoin and bitcoin cash … not “if” the bitcoin system will collapse … but “when” will it collapse … a monetary system based upon a common medium of exchange has always depended upon confidence (now what kind of confidence can people have in a currency that jumps up and down with such extreme fluctuations? … only Gold and Silver are universal, convenient, cheap, not subject to violent fluctuations, and 100% reliable!
America’s Righteous Russia-gate Censorship
November 14, 2017
Exclusive: Arriving behind the anti-Trump “resistance” and the Russia-gate “scandal” is a troubling readiness to silence dissent in the U.S., shutting down information that challenges Official Narratives, writes Robert Parry.
Does Russia Now Have Superior Military Technology?
The Saker, Nov 4, 2017
Russia makes superior weapons with a lot less in there budget. Making the most of what they can afford. Maximizing FULL potential.
We can’t live in denial forever.
“Invulnerable” is an appropriate summation of the outdated state of mind of the collective with regard the US Armed Forces.
The Wehrmacht was thought to be invincible until it was not. The better question is why should good American boys risk their limbs or make the ultimate sacrifice for the Federal Reserve.
God does not make people suffer. He loves them, wants what is best for them, and will soon bring about major changes on the earth. Sickness, the problems of old age, and death will be gone, and obedient people will live forever—”right here on this planet.” Read; Revelation 21:3, 4; Job 33:25; Isaiah 35:5-7 and 65:21-25.
“Now you know what to live for.”
Really? Why is ‘God’ there letting people suffer for his or her entire existence?
Fake news from you and getting old and sick is part of being a human, stop trying to change evolution. Live forever, what a farce!
You’ve been brainwashed. Read the book “Darwin’s Black Box”. Evolutionary theory is compared to a tornado going through a junk yard creating a complex computer. Nothing happens by chance. Not even the big bang. But believe whatever you want, right up to the time you take your last breath.
A lot of people have asked me why God let’s bad things happen or they have said if there is a God, He must be sleeping.
You have to understand the whole story for the answer to make sense. However it has to do with a few things and one of them is something called “free will”. God doesn’t interfere with our decisions unless we pray for Devine intervention. God can and does intervene in situations sometimes. Why not all the time? I’m not sure. I believe it has to do with the “big picture” and we only see part of the picture. Bad things happen to both good and bad people.
Another thing that has to be understood is this is a “fallen world.” If there is good there is also evil. Satan is real and he is wreaking havoc in this world. Satan’s biggest accomplishment is having people believe that he doesn’t exist.
We know how this all ends as it is written in the Bible. God defeats Satan once and for all. He has already done this through Jesus and the cross.
Praying that you have a real encounter with God/Jesus.
If you understand Christianity you’ll understand that “we the people” are living in THIS world, denying Him and how we ought to live. As a great atheist reminded me, “There are no contradictions”.
The Bible shows that present harsh conditions will not go on forever. Read Psalm 11:5 . See how God feels about those who love violence or Psalm 37:1-4 to point out God’s encouragement not to take it upon ourselves to repay in kind but to trust in him. The words of Psalm 72:12-14 show how Jesus Christ, the greater King Soloman, now ruling as our heavenly King, feels about innocent people who suffer violence.
Some people have lived through one conflict after another as contending factions fought for control. They take for granted that war and its aftermath are a part of life. The only hopeful prospect they see is that things might be better for them if they could escape to another land. But most of them never succeed in doing that, and a number who have tried have lost their lives in the attempt. Those who do get to another land often find that they have simply exchanged one set of problems for another. Psalm 146:3-6 might be used to help such people to place their hope in something more reliable than emigrating. The prophecy at Matthew 24:3, 7, 14 or 2 Timothy 3:1-5 might help them to see the bigger picture and the meaning of the conditions they are enduring, namely, that we are living in the conclusion of this old age of things. Such texts as Psalm 46:1-3, 8, 9 and Isaiah 2:2-4 might help them to realize that there truly is hope for a peaceful future.
There will never be peace until the second coming.
Yes, until there is concord and forgiveness in the deep human soul….otherwise peace is just war by other means.
People need to change the situation, not God
Unfortunately Greg is not receptive to comments not in agreement with his own. It does come across as bigoted or churlish but it is as he says his site to do as he pleases. This attitude makes his reporting of limited value though since no-one can be challenged and develop any better understanding than they had before. It does illustrate to outsiders why typically American’s can’t make any progress with their predicament however. There are just far too many people deeply enmeshed in the matrix to see their way out of this mess. Mention any of the culturally reinforced trigger words and measured reason goes out the window. Most of them have no idea how conditioned the are and how counter-productive their reflexes are. It is almost tragic but individually and collectively they just don’t have the mental tools to focus on the problem and generate solutions. This is why the rest of us must anticipate the worst outcome. There is nothing anyone can do to help those who don’t want to be helped or are deaf to useful perspectives offered by the well intended.
LC, thank you for the scripture verses.
Greg, I feel a lot of foreboding out there. I want to tell people to hang in there even though it looks so terrible and there seems no relief in sight! Your site despite the harsh reality of truth, gives comfort in the fact there’s other’s out there not in complete darkness like most and your encouragement to never giver up, because there is a higher power out there somewhere, somewhere, waiting, waiting.
Thank you too Greg for your service!
Thanks for the inspirational comments LC… Chip
I appreciate your Scriptural comments. People just do not understand the main issue of the Bible. The issue of who has the right to rule. Satan basically claims that humans can rule themselves independent of Jehovah God Almighty. So who is right? The only way to settle the issue is to allow Satan to prove his point and let humans rule themselves for a time and see what happens. Well history shows that all human governments in any form fail to govern properly. As it says at Matthew 24:21, 22 and Mark 13:19, 20 that things will get so bad that if there was no divine intervention to put a stop to failed human rulership no one would survive. When will that day come no one knows but God Almighty himself (Mark 13:32), but that day must be getting close according to the signs found in Matthew 24, Mark 13, Like 21; 2Timothy 3; to name a few Bible Scriptures. So I encourage people not to put their trust in men (Psalms 146:3, 4) but to study the Bible like one would for any professional college education and see how it explains how our problems will be fixed (not by human efforts), why suffering exists (because of Satan and our own sinful stupidity), why we are here, and how bright the future will be (Psalms 37:1-11, 29).
Concern about the economy pales in comparison to the concern we should have about a death ray being used to take out a whistle-blower concerned about CERN opening a porthole to the underworld and reestablishing Jacob’s Ladder to bring evil Demon’s into our world!! … https://www.youtube.com/watch?v=XJkx-I4fw4o
The American Indians before the time of Moses had problems with “Serpent Devils” that ate human flesh … just as we today have Satanists doing the same thing … Demons like pedophiles, transgender perverts and warmongering neocons intent on killing our children must be stopped … more then just crashing markets they want to eat us out of our houses and homes!! … https://www.youtube.com/watch?v=SI0TclZurKs
Not only is Satan loving CERN trying to bring evil demons into our world … the Satan loving Deep State neocons are trying their best “to turn our normal children into evil demons … using a drug named BZ (NATO code for a deliriant and hallucinogen) also known as 3-quinuclidinyl benzilate … it is said to have been administered to US troops (by neocons in our military) in a secret attempt to increase their fighting power and willingness to kill!!
I enjoy my family more now, pulled all shares from my portfolio yesterday. I’m not missing out on dividends at all, rarther prepping the old fashioned way.
Stay strong Greg
Anthony Australia; Right on Bro. I have a home that is warm in the winter, cool in the summer. I have a comfortable bed to sleep in, my wife and my dog still love me. I have stored food and water, gold and silver, and I am armed. That’s whats important to me. Dividends???
Sharon, a very good post, re the FED obviously you have paid attention to Ron & Rand Paul. The last President who took on the FED was Kennedy, and look what happened to him for wanting to have the Treasury in charge of the currency. Ron Paul was the last chance to effect change in America, and look how he was marginalized for speaking the truth.
All Central Banks will victimize their depositors, they have all signed up to do it, and Europe is leading the charge”right now”
AMEN BROTHER PETER!!!!!!
As Greg said, “We know the truth when we hear it!”
Got me thinking of a new song.
Flies in the kitchen. Mice in the cabinets, Spiders in the bed, Rain falling on my head.
I know when this thing ends. It ends when the world (goes mad) over their frustration living under the dollar. When you’ve had enough, your done.
Song title Gone mad just at the right time.
Great interview Peter and Greg… Chip
Peter is extraordinarily clear thinking. Thanks, Greg, having him on.
Where’s a gold and silver producer cartel when you need one?
I hate to challenge the gold bugs, but there is not enough gold on God’s earth to finance the world economy, especially investments in lively enterprises. It isn’t the answer…and besides, it is dead wealth. It’s static….like money stashed in a coffee can. That doesn’t pass my own wholesome test. “Money is like manure. It’s only good for tossing around to make good things grow”. (from “Hello Dolly!”)
Deanna, you hate too, but you do.
Obviously at current prices there isn’t enough ounces but at $50000 an ounce there is more than enough.
Inflation adjusted highs of gold in 1980 is equivalent to $15000 today.
God has given us the gold the devil wants to demonize it.
Ask the Indians of Georgia and South America if God gave the gold….ask Moses and the gold calf. Sorry, no sale. There’s a huge lot of money going into gold that could build, help, finance, and cheer a lot of people. It’s fear driven….and fear is the devils greatest weapon.
Deanna, if that it what you truly believe then what are you doing here?
Look at Gold is only a medium of calculation. A foundation of control and logic.
Currency does not even match the STATIC of gold you describe.
Currency and stock markets are only a fabrication of the belief of wealth.
Who will be the last man standing? Precious metals of paper currencies.
History shows us that Gold always has value even when manipulated like it is now.
Yet paper currencies have come and gone by the hundreds..
I agree everyone should have 3 months of cash in their underwear drawer and 3 years of gold and silver stashed in the garden.
It is looking like gold will form part (not all) of the new financial system, if you consider that economic power is shifting eastwards and these are the countries buying up the most gold.
The gold cynics never explain why China, Russia, Turkey etc are buying so much gold. Even America still claims to hold massive amounts of gold in Fort Knox. Answer this question if your arguments are to be taken seriously.
Deanna Johnston Clark,
Wash, rinse and repeat…….
The notion of using paper as money is almost as old as paper itself. The first paper banknotes appeared in China about 806 AD. An early use of paper was for letters of CREDIT transferred over large distances, a practice which the government quickly took over from private concerns. The Chinese, with their great gift for pragmatism, labelled this practice “flying money”. The printed notes were normally military scrip or other emergency measures issued in dire circumstances, but for the most part these notes disappeared quickly.
The first real use of a paper money system was in Szechwan province, an isolated area subject to frequent copper shortages (which is a component of bronze). It had reverted to an iron currency of coins, and paper was a welcome option. Iron banks sprang up to facilitate the trade, and the government was quick to take over the profitable enterprise (This is the precedent which BitCoin enthusiasts should bear in mind). Amazingly, the Chinese only used paper money on any meaningful scale for about 300 years of a 400 year period between 1050 and 1450, overlapping the Song, Yuan, and Ming dynasties (Gee, I wonder why paper lost its ability to dominate what the ancient Chinese people use as money, I suspect it had something to do with credibility).
The Song dynasty was the first to issue true paper money in 1023, and it did so at first cautiously, issuing small amounts, used in a limited area, and good for a specific time period. The notes would be redeemed after three year’s service, to be replaced by new notes for a 3% service charge, an efficient way for …….
As is to be expected, paper money did not succeed everywhere. In Persia, its forcible introduction in 1294 led to a total collapse of trade. By the 15th century even China had more or less given up paper money. Over this period, paper notes were issued irresponsibly, to the point that their value rapidly depreciated and inflation soared. Then beginning in 1455, the use of paper money in China disappeared for several hundred years. This was still many years before paper currency would reappear in Europe, and three centuries before it was considered common.
This is a health infomercial that says the Clinton crime cartel and big pharma are tied at the hip. Very interesting.
Keep in mind they want to sell natural health info at the end. I Googled some of that info and got the skinny for free, so you aren’t held captive in having to purchase to get the full dope.
Drugs are where it’s at today, because today crime does pay and is paying and not just because of Opioids. Money does talk. Drugs whether sold on the street or the drugstore are definitely taking us down the wrong path to the worst and lowest form of slavery, addiction. It’s time to take a different path. Natural supplements? It’s only natural!
[TRUTH behind the 2016 election, hidden behind Clinton corruption without interruption.]
Listen in. If you’d rather read transcript, then click to go back one page and click, stay on page.
“Mother of All Bubbles”? M O A B.
Why did you choose to use a phrase that spells out the initials MOAB, as in the Mother Of All Bombs = MOAB. ??????
It’s a shame that Peter didn’t win the senate seat when he ran, but considering the corruption and criminality of Connecticut Dem politics, it was understandable. The State is not far behind Illinois in pension deficits and overwhelming budget problems, and the Sandy Hook coverup is a perfect example of an establishment false flag. The blatant anomalies and proven crisis actors versus the Establishment claims leave no doubt. Actually, it is better that Peter is available for the economic truth telling at which he excels. Good catch Greg.
The farce continues because everyone in America (and globally in smaller ways) has a vested interest in keeping the dollar façade going. If you get paid and pay for anything in dollars, you have a vested interest in the dollar – even though it’s forced on you. The dollar has become the status quo that everyone loathes but no one wants to abandon as it still has ‘perceived’ value. Joe Sixpack will not consciously abandon the dollar for any other medium until it breaks – which will be too late. That’s the difference from bygone days – Generally, people today do NOT UNDERSTAND or more specifically, see DEBT as MONEY.
People will only wake up when they see gold selling for “zero value in dollars” … but they will “be perplexed” that gold “still buys things” when its value in dollar terms “is zero” (their minds will be very confused … and they will say to themselves … how could something worth a zillion dollars … where each dollar has zero value … be worth more then nothing)?? … we in the know are flabbergasted today to see gold worth “almost nothing” in dollar terms … but do we wait for gold to fall even more in dollar terms (as Dent says to $700 dollars)?? … No! … we just slowly and quietly accumulate it … as it is driven down toward zero value in dollar terms by the PPT!! … but toward “infinite value” in real monetary terms!!
A good example of what happens when SHTF. The unexpected happens and it ain’t pretty.
Here’s an idea using Schiff’s rationale: we know the system can “stand” $20 trillion in debt. How ’bout we just don’t add any more to it? How ’bout we beat this thing to the punch and figure out how to reconfigure ourselves, our system, and our lives to live within our means now? All it would take is determination, courage, integrity, accountability, honesty, responsibility, intelligence, understanding, and dedication. Best always. PM
Thank you for having Peter on and providing an exceptional interview. I love his and your use of analogies!
Is Netanyahu (under attack in Israel for bad behavior) blaming it on Trump? … perhaps this is why a couple of “his boys” are filing impeachment charges against Trump … http://www.tennessean.com/story/news/politics/2017/11/15/rep-steve-cohen-other-democrats-file-articles-impeachment-against-president-trump/863815001/http://www.tennessean.com/story/news/politics/2017/11/15/rep-steve-cohen-other-democrats-file-articles-impeachment-against-president-trump/863815001/
I hear the articles of impeachment have to do with:
1) Obstruction of justice … for Pedophiles to do what they do?
2) Violating the Constitution … by allowing people to Own Guns?
3) Undermining the independence of the federal judiciary … by putting opponents of Abortion on the Supreme Court?
4) Undermining the freedom of the press … to promote “Fake News”?
5) Negotiating instead of going to War … to promote Peace?
GREG: A Question.
The common Sense show reports that McCain and Hillary have been secretly arrested and arraigned. Do any of your sources confirm thjs??
Nothing new here!
The longer it takes, the worse it will be.
Cannibilism will be the new sport!
Still awaiting moderation, huh? That means you didn’t put up my post.
Geez, I wonder why, Mr. Schiff?
Everyone else who posted today (same as I did), you have put up their posts.
Why not mine? Did I call you correctly on your use of NWO terminology inserted as your title for this story?
USA Watchdog not entirely what it should be perhaps?
Greg you and your guests are just very negative. You are a negative force. You make people miss opportunities of a lifetime. How does it make you feel?
You make people poorer. Fear mongering cheerleader.
Can’t you say anything positive about the markets?
You are sick.
Talk about pounding sand down a rat hole? This should give you a pretty good example how desperate the central banks are. Anytime you see an investment company lash themselves to a company that is clearly in a death spiral you know things are about to go from bad to worse.
Are you watching the bond sell off and wondering what’s going on.?
Like they used to say, “make room for daddy”. Only this time the sugar daddy aint Uncle Sam. In reality the Saudi purge is really nothing more than cleaning out the last vestiges of western banking corruption in order to make way for deals with China. The Saudi leadership took a page right out of the Chinese playbook to put its financial house in order. In the east, they arrest criminal bankers. In west we throw them off of buildings or shoot them in the head with nail guns. Either way there are always casualties when economic shifts occur and that’s what’s happening. Though its taken a lot longer than I ever imagined, the days of the petrodollar are numbered when the ARAMCO deal is finalized in the next few weeks. By my count no U.S. company is making a bid, so that should tell you something. Keep watching the bond sell off. The central bankers are getting nervous.
As Peter Schiff would say: “those who don’t want our bonds … don’t want our dollars when they have to turn them in”!
The Squid will have something to say about the House of Saud turning East. Expect false flags….Lebanon/Iran conflict….potentially civil unrest within the House. Still some of the Clan who are free and dont accept the shift …things could get hot down in the House….. soon.
Do we see a moon shot in the price of Oil…tooooooo ???
Come into my parlor said the spider to the fly.
For those of you keeping score, China has now injected its currency into:
1) The Gold Market
2) The Oil Market
3.) The Bond Market
It now appears that the international banking system is primed and ready for a major shift in economic control that could come at any moment. Its still being decided whether that change will occur in the form of digital currency under block chain or gold price rediscovery , or both. Either way it was important enough that President Trump had to meet with all the major players involved in order to secure a place at the economic table for the United States. He knows what we know people.
……”He knows what we know people.”……that HE doesnt know how to play Chess or what the term CheckMate means !!!! 😉
Greg, many thanks for having Peter on your show. He is spot on, and is easy to follow and understand his points.
Keep up the splendid work my brother!
See … it is not just “white” men without morals (like Bill Gates) who are responsible for African Genocide but “white” women without morals (like Hillary) also … hopefully the enslaved will realize the important word here is not “white” … but “morals”!! http://www.zerohedge.com/news/2017-11-15/libyas-slave-auctions-and-african-genocide-what-hillary-knew
Remember “morals” is the only “firewall” protection humans have against Deep State mind control operations!
As Greg provided for us above … is Jesus’s “firewall” answer to Satan implanting evil thoughts in the minds of men … that can be similarly used against the Deep State’s mind control programs!!
Isaiah 55:8-9King James Version (KJV) …
8. For my thoughts are not your thoughts, neither are your ways my ways, saith the Lord.
9. For as the heavens are higher than the earth, so are my ways higher than your ways, and my thoughts than your thoughts.
The hidden joker in the deck is what happens if the Federal Government outlaws the use of or even the ownership of gold,especially coins. This has happened in the past with FDR in 1934. It was illegal to use gold for about 40 years. Yes,gold ownership will save a person’s purchasing power but if it is illegal either by confiscation,fines or imprisonment to use that gold then what? If the law comes down that each citizen is to use a computer chip to buy,sell or trade only in approved government fiat currency or computerized purchasing cards what happens to the gold one holds? It will become unmarketable. In the end the last vestiges of liberty and individual protection from an out of control,tyrannical America government will be gun ownership and gold ownership. So the question to ask oneself is what happens when the guns and the gold are outlawed ?
I’ll answer your last question: You change the lawmakers.
Exactly right Ray.
Problem is the dumbed down, dependent on government hand outs public.
Will there be enough of us patriots to protect our Constitution and freedom.
I pray there will be.
Only if your nimble. Over 50, small chance.
We should have already fought by now if it were going to happen. Sorry, but that boat has sailed and will be over the horizon when we finally figure out we missed it. Best always. PM
Ans: Bow and arrows, sling shots, home made cannons, etc. and silver!
You can get a basic idea from the example of AR-platform rifle registration that took place a few years ago in Connecticut. Lines and lines of people stood out in the cold to register their constitutionally-protected property rather than face possible consequences. It’s sad. really. Best always. PM
The US Treasury sells gold coins. They are not going to reverse and outlaw them. Numismatic coins were not confiscated by FDR either…
The gold confiscation phenomenon was a dollar-devaluation scheme, not something designed to be outwardly punitive. FDR needed more money than he had or could get, just like any socialist. As Reagan said, government is the problem, not the solution. The USA is foundering in government; it will be the death of us. Best always. PM
Language from the EO…
Order 6102 specifically exempted “customary use in industry, profession or art”—a provision that covered artists, jewelers, dentists, and sign makers among others. The order further permitted any person to own up to $100 in gold coins (a face value equivalent to 5 troy ounces (160 g) of gold valued at about $6,339 in 2016). The same paragraph also exempted “gold coins having recognized special value to collectors of rare and unusual coins”. This protected recognized gold coin collections from legal seizure and likely melting.
So in this case “collectible” coins would not be confiscated… Chip
Americans used to own gold in significant quantity in the 1930s. Why would America give all its gold away to the far east in the first place only to try to sweep up the crumbs of Au from its own population that have been brainwashed out of owning gold by the same government?
You don’t understand the process of the thief. In 1934, wealth was stored in gold – gold was money. In 2017, wealth is stored in debts, obligations and promises in various forms – stocks, bonds, contracts, pensions ……
In 1934, FDR disappeared gold and stole 1/3 of its citizens’ wealth. In the near future, government will make debts disappear and steal from the savers.
Outlawing gold in the US will only discourage foreign investors from investing in America with their gold. Will you invest in Zimbabwe if all foreign currencies and gold were illegal to own in Zimbabwe?
“You become a SERF” and live in the GULAG”
Playing the Blaine game never changes the outcome, asking for wisdom of doing the right thing and going back to the foundation of what the good Lord gave us would.
I think if it gets super bad, gold and silver will not be worth much (silver might be for colloidal silver production). The only things of worth will be life sustaining physical assets (food, water, fuel, guns, bullets, seeds, tools, clothes, etc) or some luxury items (alcohol, cigarettes, chocolate, toilet paper, etc..). I know in a famine, I would not sell food for gold.
food goes bad, gold does not. suppose you farm and harvest two bushels of tomatoes, but you can only eat one bushel before they go bad. you can sell the other bushel for gold and go by beef from farmer jones down the road. it is a medium of exchange… Chip
In a famine food won’t go bad. You will trade it for other things that will keep you alive like bullets, medicine, etc. Gold has no intrinsic value except for some electronics and other such things. You can store food for a long time also. Wheat can store for at least 30 or more years. If a famine hits, I would much more prefer to sit on my pile of food than my pile of gold.
a medium of exchange will be too risky in dire circumstances. People will only trade for things of immediate value.
I think it’s a major mistake for Pres. Trump to crow even a little about the rising stock market and economic numbers. He will regret doing so.
It’s false optimism to believe all those fake numbers when our manufacturing sector is not even close to coming back, and our massive government is not rolling back regulations or taxes to make a difference. Trump is doing the best he can do, but the American Titan-ic economy has been damaged long ago beyond an easy repair and recovery.
Trump should distance himself as far as possible from the economy. When the financial and economic system finally blows, blame it on the previous presidents and congresses who destroyed our country through negligence and corruption.
That’s the honest truth.
I think Trump’s only hope and option is to start meaningful criminal proceedings against the big players in the Deep State. But the corruption is so deep and might be too frightful to accept and move forward from.
Me too Greg. He called it a bubble during the campaign… Chip
After the inevitable upcoming constitutional convention the second amendment will be abolished as well as private ownership of gold, silver, platinum and palladium.
Violation penalties will be severe.
“You commie weasel”
Hunter + 1
There was a time when I would have agreed with you, Greg. But I am beginning to think we are possibly wrong and at least not right. If those in control can string this thing out long enough for the Boomers (and I’m 65, still willing to fight, but not the fighter I would have been 20 years ago, when we SHOULD have fought), to age more and at least half die, the table changes 180 degrees. Look at the younger generation. The US will be Cuba Nova. Best always. PM
Most people don’t understand that the Declaration of Independence is the preamble to the Constitution, i.e., that it sets the CONTEXT and compass for the proper INTERPRETATION of the Constitution.
Our Founders originally leaned toward Anarchy, but opted for limited government. Anarchy is very much misunderstood today. Anarchy is not a “form” of government. It is not meant to be a permanent state of social existence. It can be a very necessary transitional state of affairs when, for example, tyranny, oppression, communism or a slave type state exists, which stifles or prevents individuals to be free.
Anarchy should occur, for example, in the slave state of North Korea. But they are not fortunate to have our Second Amendment right. So they have no guns in which to attempt to protect themselves or to assist themselves in an escape. The chaos that would occur form “Anarchy” , if the North Koreans could pull it off, would only be temporary. Anarchy would be the FREEING PROCESS, necessary for them to be released from the shackles of monsters. Next, they would then be able to start building and restoring their lives and form communities and to organize a more rational and productive society in which they could then live, grow and ultimately prosper in.
Our Founders were brilliant in crafting the Declaration of Independence for many reasons. But in the context of your comment I will quote from the Declaration. In the context of addressing our unalienable Rights, that among these are our Right to our Own Life, Our Right to Our Freedom and Our Right to Pursue our Own Dreams and Happiness (not the visions and dreams of a committee, of demagogues or of dictators)…
It says, “That to secure these Rights, Governments are instituted among Men, deriving their just Power from the Consent of the Governed, that whenever any Form of Government becomes destructive of these Ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its Foundation on such Principles, and organizing its Powers in such Form, as to them shall seem most likely to effect their Safety and Happiness.” “But when a long Train of Abuses and Usurpations, pursuing invariably the same Object, evinces a Design to reduce them under absolute Despotism, it is their Right, it is their Duty, to throw off such Government, and to provide new Guards for their future Security.”
What our Founders are saying is that if our Fundamental Rights are tampered with, it becomes our DUTY to protect them. It becomes our DUTY to revolt. Essentially, this means to have a Revolution, if we must, in order to protect our Rights and bring us back to Safety.
So, if this were to occur, it would becomes our DUTY to move toward Anarchy, TEMPORARILY. That’s what would be necessary to abolish the power grab from a tyrannical government of our rights, in order to bring us back to a state where we can restore them…and probably back to the Constitution, but with added protective Amendments!
This is why Liberals HATE the Declaration of Independence. Because in the end, it gives us legal permission to ultimately revolt and to undo whatever dark path they may try to take our country down.
The Second Amendment IS the fundamental tool that would enable this DUTY to be FULFILLED. It is vital, it is essential and it is NECESSARY… for the maintenance of our Freedom, our Rights and our Safety. And so, it is when the Government, which derives its just powers from OUR CONSENT, transforms towards tyranny, and makes a final push to usurp or Rights as a Free people, that a Revolt will most likely occur.
Schiff is the one guy who is right about these bubbles, and the “third crash.” the psychology of the first two, leading up to them, is totally different than this third. This third crash is the nastiest of them all, because it is totally sucking EVERYONE back on board, and convincing even the toughest bears of them all, that this time is ‘different.’ What happens this time, versus the prior two, is just when that very last Bear finally capitulates, and things look the ‘rosiest’ by nearly everyone in the population, not just those in the stock markets, and when everyone comes to believe that all of those “Hindenburg Omen” signals are wrong, and don’t work anymore, and when P/E’s are believed to not matter anymore (as in Amazon having a P/E over 126 and it not mattering to anyone), and people like Warren Buffet buying Apple, a tech stock he shunned for years, and he missed 99% of its gains, that is when you know we are pretty close to the bursting. But it hits just totally out of the blue, with absolutely NO obvious ‘trigger.’ In otherwords, it won’t be a “Lehman” moment, or an LTCM, or WWIII, or NK launching a nuke, that tells you its coming. It’ll be most likely a very lame, even very innocuous looking and slow decline, you know maybe just a 5% correction. Except that after it hits 5% down, and everyone is waiting for that rebound. The rebound doesn’t come. Then it goes sideways, then down a little bit more, say to 7% down. Then again some minor ups and downs, fluctuating around 6% down to 8% over a fairly long period. Then it starts down again, just a very little bit, maybe now down to 9% down. Its gonna go like that, at a frustrating snails pace down, with no circuit breakers triggered, no panics. It’ll be like that for months on end, until slowly, we will be 20%. And then everyone will start saying, ‘hey we are in a bear market now’. But they expect the Fed to have their back, and so they keep buying the dip. It goes back up to 18% down, then even maybe 15% down. But then when all the economic numbers are showing 3 to even maybe 4% GDP growth, and Trump starts proclaiming our deficits are shrinking, the slow down slide will resume. This time is goes down past 21% down, then 22% down, and maybe only down 1% or 1/2% per day, to flat on the day. Again, no signs of any panic. This time, nobody is bailing, and because of the prior two massive re-bounds, from back in 2000, and then again in 2008, everyone stays ‘buy and hold.’ Then this downward slide keeps persisting, and then we are 30% down. Now people are concerned, finally, but still no panic. The “Fed” has their ‘Back’, or so they think. But this time, the FED doesn’t announce ANY QE. Because it simply can’t. They wont tell anyone that. Before anyone knows it, and before anyone seriously bails, the markets are down 40%. Now the ‘panic” finally starts to set. And then the big ‘crash’, whereby in days the markets go down (much to everyone’s utter horror) another 30%, in a week, sort of like 1987, but this time there simply is no rebound. Only slow, slightly down days followed by very weak up days. Now the President is capitulating, and finally calling it a ‘depression.’ That is when WWW III actually gets triggered, and the markets are by then down 70% from their highs. People wondered HOW and WHY they all stayed in, all THE WAY DOWN. Like frogs in boiling water. Well they kept holding out hope the Fed ‘had their back’, just like the trained monkeys they turned out to be, and they never did know when to ‘cut bait’ and bail. They ALL thought they would know when to get out, and how, and would be able to do so quickly. But they just didn’t. And then much to their horror, the market doesn’t go up much at all for the next 10 years, or at least until after the dust has settled on WWIII. All those people who had pensions, and thought they were ‘protected’ by law, suddenly are dead broke. All those boomers with 401k’s, have 101k’s, if any left. They all thought they were ‘geniuses’ by holding after two crashes in 2000, and 2008. They were ‘rewarded’ for holding. Thought they would be a third. time too.
Know this – the market makes fools out of EVERYONE, and there are very very very few geniuses long term. If Buffet lives long enough, he will be among those hit the hardest this 3rd time. There simply cannot be this many ‘geniuses’, with the majority in the markets ‘winning.’ In all of history, that has NEVER occurred, ever.
Great post Mike… Chip
Mick R, the bears I know are selling their metals and are now jumping into Cryptos and Stocks cursing the very day they ever listened to the doomsday prophets.
I believe their cursing days have yet come.
Another great “ECHO CHAMBER” interview by the former journalist, Greg Hunter.
GREG Wash Post.
After Hillary lost the election, Jeff Bezos gave John Podesta a job at the Washington post. What might this say about Bezos ?? Is he involved with them??
Read the book, Full Faith and Credit. By Cook. Fictional scenario of a dollar collapse. This is what Schiff is talking about. When gold pops over 1350, it’s headed for 3000 minimum. At some point during all this, the dollar drops under 72 on the index to a new low.
Bonds peaked a year ago, and stocks still going up. Same as the Depression. Back then stocks peaked and crashed and there was a safe haven play in bonds for a few months. But then all hell broke loose and bonds and stocks got routed.
These might seem like contradictory scenarios, but I think it will play out the same.
Gold is going to have one heck of a good year in 2018.
The stock market ? We shall see.
You know they say you can’t fake physical gold. Well i’m not sure about that. For instance, I have 30 ounces of gold i bought from TD Bank here in Canada and they are all 1 oz bars from the Canadian Mint. They are all packaged in this plastic sealed case and when i bought them i was told that the bank would not buy them back if they were taken out of the plastic seal. Then you have a recent story like this coming out: http://www.cbc.ca/news/canada/ottawa/fake-gold-wafer-rbc-canadian-mint-1.4368801
Really, in the end i don’t know whether all of my 30 ounces in the plastic packaging is real or not. I bought it from a reputable source and it all looks legit, but do i really have real gold, or not? The only way is to take them all out of the plastic packaging and then test them all. But honestly i’m scared of what i might find out.
So then let’s say all my gold is not real, but i keep it in the plastic packaging because i want to sell it back to the bank at some point. So then gold explodes up to 40000 an ounce and the banks change the rules that they have to test the gold in the packaging to make sure it’s real and a lot of people get caught holding the bag as it were.
Or they don’t change the rules and let’s say gold supplies are running low. As long as everyone keeps their gold in the plastic packaging and the bank treats it as gold and doesn’t test it you can create an infinite supply of gold coated whatever. Get what i’m saying here? It’s not just EFT that could really screw a lot of people over. A lot of people could be holding fake gold and not even know it. If everything else is manipulated why wouldn’t they scam people this way as well? TPTB have no conscience or morals.
That’s why I would rather own coins than bars. You can easily do your own test on any coin by investing $169 on Filch
Regarding the authenticity of your bars, you can unwrap one of your oz bar and drop it vertically on the ground. If it dented slightly, it’s gold.
Every chemical element has a different density and weight. It’s difficult to duplicate, especially in a coin. They are small and easily identifiable. There are also official scales. Bring your coins to another reputable coin dealer and have them weigh them, one by one, on the scale. A gold coin weighs 20 0r 21 pennyweights.
Most reputable dealer will just look at them and can tell if they are real and will exchange them for you, without any fuss.
You can also contact Peter Schiff. I believe he will buy your coins even if you did not purchase them from him..
Don’t worry. Do the above and put your mind at rest.
A heads up for you Greg. There has been an uptick in the incidents of “fake” gold and silver over the last few years, and the MSM liars are picking up on it….
I cannot fail to see how this will undercut the value of the PM’s and continue to prop up the worthless green stuff.
Also, a couple of months ago I advised our Township Committee that NJ was going to legalize weed in January of 2018 according to my people. Two weeks a go my Mayor handed us the bill which has already passed the NJ legislature accomplishing this that was being held back until the new Pot Head governor is sworn in. It is supposedly the first item on his agenda. The government lie is that taxation on pot sales will net $300B in revenue. However, what I am hearing out of the local municipalities in Colorado is that besides the legalization having little or no effect on black market sales (taxed pot will always cost much more than street pot), the resulting increase in crime (in places and numbers that have not been seen to date) will cost far more to the residents of that unfortunate state than they will “make”. Once again, action by the government that claims to gain us income but winds up costing us far more in the end. Keep up the great work Greg, Peter Schiff will be right once again for he sees the truth, just as you do. Thank you.
Walter, my thoughts exactly. When you can’t even trust what you buy at the bank, most people will be wary of accepting it even in barter or trade. Fraud has reached epic proportions, it seems. Fake gold, counterfeit money, fake stock market…..and next the anti-Christ.
The question always has been not if the system would collapse but when. Now that the exchange system is global and fully interconnected, predicting when is almost impossible because the system is incredibly complex, and human inertia and momentum rarely shift quickly.
Yet the breaking point might not even be noticeable. The colonial Americans saw the gradual degradation of the continental, but there was no breaking point that could be marked on the calendar.
An exchange system based upon common mediums of exchange has always depended solely upon confidence. Nothing more, nothing less. The modern exchange system will degrade continually, but will not collapse until a significant portion of the participants lose confidence. What will cause that final loss of confidence is unknown because human nature is the primary element in controlling that confidence. When fear and uncertainty with respect to a medium of exchange rises to a breaking point, then confidence will evaporate and the medium will stop circulating in any meaningful manner.