Nation of Denial

By Greg Hunter’s 

There is no bigger sign post about the state of the U.S. economy than the Federal Reserve’s announcement in September of “open ended” QE.  This is unlimited money printing that is being done by the Fed until further notice.  All the talk of the so-called “recovery” was reduced to a gigantic lie perpetrated on the American people.  If the economy was in a “real recovery,” the Fed would be raising interest rates, and there would be no need to create $85 billion each and every month to “stimulate” the economy.  Former Reagan budget director David Stockman says the Fed is on a “money printing binge.”  He said three weeks ago on FOX, “We’ve never had a central bank that has printed this much money. . . . I don’t think they can whistle this tune very much longer.”  To that, host Neil Cavuto said, “So if you had a lead suit, you would buy it.  If you had a cyanide pill you would take it.”  I think Mr. Cavuto was trying to make a joke, but nothing is funny about a dying empire.   

Renowned investor Jim Sinclair explained money printing by the Fed on his website recently by saying, “The economy is a drug addict. The creation of money is history making in a modern economy and money creation acts exactly like a drug. Like a drug the more you take, the more you need. The more money you create, the more money you must continue to create until it goes to infinity. You go cold turkey on money creation, you unleash the economic wrath of hell in the entire Western world. It all comes down in one great implosion.”  How much trouble is the U.S. economy in that its central bank has to create unprecedented amounts of currency to keep it from “one great implosion”?  Is there any wonder why Mr. Sinclair predicts gold is going about $3,000 per ounce in the not-so-distant future, and will ultimately hit $12,000 per ounce.  (I would take Mr. Sinclair seriously.  He has a track record of making very big calls on gold that date back to the 1970’s.  I wrote about this 2 years ago.) 

Countries around the world are shunning the dollar in trade.  The biggest blow to the buck came earlier this year with a trade agreement between China and Japan.  These are the second and third biggest economies in the world behind the U.S.  Other countries such as Russia, India and Brazil are just a few more countries moving away from the dollar in trade.  As the dollar loses world reserve currency status, it will decline in value.  Its buying power will be reduced.  The only question is how much will it fall?  Will we see $8 a gallon gasoline or $18?  Remember, the Fed’s money printing policies are “open-ended.” In 2011, the Fed bought 61% of America’s debt.  At a rate of $85 billion a month, it will be buying more than $1 trillion a year.  How long will this go on?   

Forget all the rigged government numbers on unemployment.  If calculated the way Bureau of Labor Statistics did it in 1994 and earlier, it would be near 23% (according to  Don’t look for an improvement there because business spending just took a nose dive.  Last week, the Associated Press reported “. . . equipment and software likely declined 4.9 percent in the July-September quarter, economists noted. It would represent the first drop in that category since the recession.  Corporate investment helped the U.S. economy emerge from the Great Recession three years ago. But businesses have grown more cautious since spring, seeing tepid growth in consumer spending and declines in exports.”  (Click here for the complete AP story.)  A slowdown in business spending and exports spells future layoffs.      

Layoffs will in turn begin a new daisy chain of defaults in the housing market that are already buckling under the weight of 5 million delinquent mortgages.  The banks are chocked full of foreclosures, but are holding them in what is called “shadow inventory” for fear of crashing an already weak market.  In July, reported, “As many as 90 percent of REOs are withheld from sale, according to estimates recently provided to AOL Real Estate by two analytics firms. It’s a testament to lenders’ fears that flooding the market with foreclosed homes could wreak havoc on their balance sheets and present a danger to the housing market as a whole.”  (Click here for the complete AOL story.)  What kind of a recovery sports 5 million delinquent mortgages and millions of foreclosures the banks are afraid to sell? 

John Williams of calls what the economy is doing right now “bottom bouncing.”  Will it one day bounce right over a cliff?  In his latest report, Williams says some sections of the economy have already started their descent.  According to his analysis, “Durable goods orders contracted quarter-to-quarter and year-to-year.”  Real incomes are also contracting, Williams says, “. . . the indications here certainly are suggestive of a quarterly contraction, not expansion, in both nominal and real wages and salaries, as well as in real disposable income.”  (Click here to go to home page.)   

Huge amounts of fraud and criminal Wall Street activity have gone unchecked and unprosecuted.  Our own government turns a blind eye to the taxpayer rip-offs of the corporate bankers and campaign donors.  Liar loans were packaged into mortgage-backed securities.  These “securities” were rated “triple A.”  They were later deemed “toxic.” When it all blew up, bankers committed forgery, perjury and fraud on the court that was politely characterized as “robo-signing.”  The whole enterprise was so fraudulent even the mob would envy it.   

Now, there is a lawsuit that alleges bankers and government officials stole the American dream and much of its wealth.  It is asking a federal court to halt all “mortgage foreclosures by the Banksters nationwide.”  According to, “Spire Law Group, LLP’s national home owners’ lawsuit, pending in the venue where the “Banksters” control their $43 trillion racketeering scheme (New York) – known as the largest money laundering and racketeering lawsuit in United States history and identifying $43 trillion  ($43,000,000,000,000.00) of laundered money by the “Banksters” and their U.S. racketeering partners and joint venturers – now pinpoints the identities of the key racketeering partners of the “Banksters” located in the highest offices of government and acting for their own self-interests. . . . James N. Fiedler, Managing Partner of Spire Law Group, LLP, stated: “It is hard for me to believe as a 47-year lawyer that our nation’s guardians have been unwilling to stop this theft.”  (Click here for the complete story.)  

The $43 trillion lawsuit underscores the enormity of the problems America is facing.  There is no recovery, at least not yet.  No economy can truly grow under a backdrop of crime.  Our mainstream media lies by omission.  There is no wonder so many good citizens of the United States are oblivious and completely unprepared for the coming calamity.  The ones that are in the know refuse to see the light of the oncoming train.  Instead, they play on the tracks.  America is in deep financial trouble, and we have become a nation in denial.

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  1. William Joslin

    The entire system is rigged. The mainstream media lies. The powers that be want an Internet kill switch as it is the only place one can find truth in this age of deception. I wish I knew why so many people choose to remain oblivious and unprepared. I understand the rest of it, but, that’s the part I don’t get. Is it the water?

    • Greg

      William Joslin,
      I don’t know but the wake-up call is coming and it will be deafening. Thank you for weighng in here.

      • William Joslin

        I agree. There’s a storm coming that makes a hurricane look like a spring shower. Thank you for everything you do. I appreciate your honesty and insight.

        • Greg

          Thank you William and Big Tom!

          • Liquid Motion

            This scenario of how you put it “I wish I knew why so many people choose to remain oblivious and unprepared” is a replication of what occurred in Weimar Germany from 1919-1923. In essence people are blinded by what is unfolding before their very eyes and find excuses or reasons for not accepting reality. That includes making wrong assumptions based on fictitious information (reasons for the USD losing its purchasing power and the real cause of inflation are examples).
            Greg has done no one a disservice here. In fact if you are to draw a conclusion from all of this…it is to “educate yourself” continually.Facts will give you peace of mind and clarity.
            You do not survive by luck alone….it will be survival of the fittest. That extends beyond the physical world …knowledge is power.
            Recommended reading “When Money Dies” technically perfect account of history for an understanding of todays money printing, human pyschology & lies from the ruling classes.

    • Royal Rife

      Yes Mr.Joslin, it is fluoride in the water, over medication, chemical laden GMO garbage foods, corrupt media, materialism and other stupid distractions. Too many won’t wake up until they find themselves sick, hungry slaves. I don’t believe real zombies (i.e. living dead) are possible, but living – brain dead certainly is.
      We can only hope for and facilitate some awareness in our children that they may push through like new growth after a forest fire.

      • Ann

        Ditto. You hit this right on target.

  2. Sandy

    Well said Greg, you’ve summed up the feelings I’ve had since 2009.

    The sad thing is that the US is not alone. This upcomming train wreck in our debt based monetary system is world wide. With global trade and banking, every civilized country will be affected.

    Although you can see it comming, the real question is how do you fully prepare for the aftermath when you are not sure how it will all play out? Maybe there won’t be an aftermath but just a continuation of endless decline. What is the bottom and what will it be like if we ever reach it?

    • Greg

      You are correct, it is worldwide. I pity the unprepared. As far as a bottom. Many people will be wiped out financially. Sources of wealth will not come back for a generation like the home equity scam where bankers allowed people to take out big second mortgages. I don’t see how the stock market investors survive when interest rates rise, and they will rise to normal levels someday. I hope you have done something to put you and your family in the best position possible. Getting out of debt should be a top priority. The whole thing is going to reverse and once again equity will be rewarded and debt will be punished.

  3. Art Barnes

    Greg, your last paragraph, with its simple but profound sentences and insightful analogies such as “play on the tracks” is why you are a true professional writer. Your fine written article gave me insight to why the FED is on a printing binge but that still does not stimulate the economy to growth. Its simple, “free” is unproductive, doesn’t make, produce or create anything of value and, in fact, and an economy can become accustomed to it if you will. In fact “free” money is counterproductive as has been proven by our social society in so many arena with banks being of no exception. A little stimulus such as coffee can make you wake up and get going but a drug addiction will soon keep you from going in the first place. The FED, because of its printing too much and way too often has to keep it coming now just to keep the status quo. The Central Bank cannot print its way out of this one and keep the dollar as the reserve, you can’t have it both ways, its just a can kicker to continue for another day and maybe say “it didn’t happen on my watch”. But in any event, the elite, our govern-ment, our leaders, the bankers, the media, and especially the FED are not in denial as they know the truth, they simply will not discuss the dirty little secret with the American people for fear of waking the sleeping dog which will threaten their relevance.

    • Greg

      Thank you for your kind words and analysis. You have added insight and content to this post!

    • Liquid Motion

      “dirty little secret”
      Can I re-phrase that to “Mammoth Secretive Distortions of Biblical proportions”.
      What will come out in the days/weeks/years ahead is that the maestros of our financial system have ensured their own undoing and self destruction. It was never meant to be a game where all participants would play evenly or fairly. While it was good it worked adequately and served the purpose for which it was created. Clearly the greed mentality has taken victory at the expense of the masses in exponential form. When the masses awaken from their slumber it will shake the very foundations of the elitist empire.
      The FED is by its nature complicit as is the Government and the Bankster Federation (they are a power unto themselves and self regulating). They sit atop the tree and witness the low hanging fruit from which to harvest their bounty.

  4. MItch Bupp

    Thank You Greg for telling the truth in the face of denial! The-powers-to-be believe they can keep killing us with inflation; off shoring manufacturing jobs and expect our economy to recover is a bold faced lie. We can not recover within this system because it is designed to enrich the top tier wage earners while the rest see their wages decimated inflation. Seniors and others are getting short changed by a government who has used rigged inflation numbers.

    Currently the government in the US is producing more than 50 percent of the GDP. How can we even think about cutting back on government spending when it is more than 50 percent of all US economic activity? It is clear that any amount of austerity will send the US even further into depression and then add in hedonics and the picture gets really distorted.

    Our leaders are out of touch and out of their minds if they really believe that devaluing the dollar is creating real economic activity because people spend more money just because their dollars are worth less.

  5. PatriotRider


    Although I follow your posts almost daily, I don’t often comment. However this post has lured me to the keyboard. I have my own business with several partners; providing professional services to the IT industry on a national basis. All we have seen in the past 9 months by clients is in definite project delays and cancellations. When the IT industry begins to act like this it’s not good. In fact it’s a pretty bad signal.

    Unfortunately, your post could not be more dead on. Please keep up the excellent reporting. I wish you and your readers well. We are all going to need it, because the future looks very dismal.

    • Greg

      This is excellent real-time feedback and reporting. A great big THANK YOU from all of us here!!!

  6. ROY

    I watch the daily news about the coming financial collapse and the many very educated financial experts pulling their hair out trying figure out why the American government and federal reserve bank are pulling America over financial cliff with no possibility of a rescue. One possibility is the ruling financial and political class of the western world are completely stupid and corrupt, or they know something else that is in our very near future, that makes running the world economy into complete ruin a mute point. Which ever it is, we will not have to wait long to find out what ever the truth is. In any case it will be every body for themselves. If anyone thinks their government will help them, then that person is in for a very rude awaking. The ruling classes have had their taxpayer paid for underground bunkers for many years, just waiting for them and their cats and dogs to hole up in, but no you. As Einstein once said, I don’t know how world war three will be fought, but I do know how world war four will be fought, with sticks and stones.

    • Greg

      As my friend Jim Sinclair says about occurrences of this sort, “This is too stupid to be stupid.” Mr. Sinclair is a very smart and experienced man!

    • Liquid Motion

      To keep the system going until they figure out and implement plan B.
      Plan B includes more power and control to the central planners.
      It also includes a new settlement mechanism/system for international trade.
      Make no mistake …when the proverbial hits the fan, all power will be vested in the “STATE”. YOU and I WILL HAVE NO CHOICE.
      Our days are very much planned/controlled even though on appearances everything seems haphazzard and disjointed and alarmingly uncertain. Chaos leads to control. Makes sense now ?
      Create a black hole…from which nothing escapes….and an event horizon (past tense) to ensure the path we are on cannot be deviated from.
      Happy smiley faces of present and future PTB.. ready to unleash hell on an unwitting civilian population. I better stop….right there.

  7. AndyB

    Greg: thanks for being one of the VERY few real journalists reporting on the Spire law suit. Just the fact that it is not already headline news or the lead story for media outlets is a big “tell” on the pervasiveness of corruption in this country. Unfortunately the corruption extends to the judicial sector (all the way to the Supreme Court), so it is extremely doubtful that this law suit will gain traction, especially as each disclosure would reveal even more layers of fraud and criminality, and expose the interconnections of the “shadow” de facto government.

    • Greg

      Andy B,
      If the lawsuit is only one tenth accurate it is a huge rip-off of or nation. I believe it is probably spot on. Former Special Inspector General of TARP, Neil Barofsky, pegged the damage of the all the bailouts and losses at 27.5 trillion not long after the 2008 meltdown. $43 trillion seems like a reasonable number to me and worthy of notation by the media. The mainstream media (MSM) lies by ommission and this is a whopper. It it is an outrageous number ($43 trillion) this would be a easy story to poke fun at wouldn’t it? But there is not a word by the MSM and tells me this is legit and scaring the hell out of the financial elite. Thank you for your comment and continued support.

  8. Jay W

    Two of the finest quotations ever made on this website and possibly the greatest of modern times.

    1. “If the economy was in a “real recovery,” the Fed would be raising interest rates.”

    My note:(Not that I consider the Fed to be a legitimate operation, but that is how it would work if there were any degree of honesty left at all.)

    2. “No economy can truly grow under a backdrop of crime.”

    Thanks Greg. Where did you get your economics background?

    • Greg

      Jay W,

      I just studied this on my own because I think this is the biggest story in the last 300 years. I am not really a financial wonk. I am a reporter at heart, and you have to do your homework to report this stuff. Lots to consider in writing this post. What to leave in, what to leave out. I cut out 3/4th of the research I did to write this post. I started at around 3pm yesterday (after I already had some research and idea) and finished up at 3am. Thank you for your kind words and comment.



    “Greed is good” A double edged sword, I would say and our governments present state of mind, it’s size and inefficiency are influencing this economy becase it cost a lot of money to support poor decisions and terrible policy foreign and domestic.

    Until we change the way our politicians and appointees hold ofice, move away from progressive thinking and employ a national sales tax, we are doomed to fail in a slow downward fiscal spiral. Leadership with intent and purpose to correct our present course by size and scope reduction of this bloated intrusive government is paramount to our recovery. Until we realize what a representative Republic is for we will not resolve this mounting problem of irresponsible spending…

  10. Jerome Eisen

    Dear Sir,
    You brought tears to my eyes you summed it the (BEST)
    Best Wish’es

    • Greg

      Thank you for your kind words and support. I am crying to for our great nation.

      • Frosty


        Our nation is experiencing divine justice, just as do all nations which have followed the same path we are on. This in nothing new but is something that happens over and over. It proceeds from spiritual apostasy to moral degradation to political anarchy to ultimate ruin.

        We are now ruled mental midgets who are so clueless that they can’t even begin to fix local economies or resolve local social issues yet have the audacity to believe they have solutions to fix global problems. How we have fallen from those blessed days when we had the likes Washington and Jefferson to serve us!

        In Ancient Israel’s case, a nation founded on Godly principles and blessed just as ours once was, that divine justice included their land being conquered by a foreign military and their people being exiled from that land. Only time will tell whether we will suffer the same fate.

        Don’t cry for our nation in its time of tribulation. We are involved in a process that was foretold by prophets several thousands years ago and whose many prophesies have proven to be valid. According to them, earth’s tribulation will eventually result in the birth of a new world in which peace and love and joy are the norm and war is a thing of the past. This comes after the tribulation which causes us to finally understand that that peace is not possible as long as we allow other men to rule over us. If it takes getting our global asses handed to us, so be it.

        A woman in labor may cry out in pain but not in sorrow. She knows that what she is experiencing now will ultimately bring her true joy.

  11. BOB D

    43 trillion lawsuit, not much on MSM about that.
    When I was young I was paid a fair price for my trade, when I was old I was paid a fair price for my trade. Inflation is just a fact,when you use the kings paper money.
    When the King goes to war, he leaves the gold at home and pays the bills with IOU’s. When the king comes home, he stamps new coins half the size and pays the bills.
    When you go to war and bring back another countries loot, then you have no need to size the coin. When you go to war and find no loot,it’s a bitch.

  12. Mickey

    Great stuff Greg! Would it be great if we(USA) had a currency that was not based on your nieghbour’s debts!?

    Thanks again!

    • Greg

      Yes, but how would the financial elite rip us off? Thank you for the comment.

  13. BigTom

    Oh, Lookie over here! As always, great job today Greg….

  14. lynda scott

    we who are older, i’m talking in their 60’s & 70’s know that something is very wrong. we are deliberately being driven into bankruptcy by Z.I.R.P. this is what ‘they’ want. the FEDERAL RESERVE BANK & their EUROPEAN shareholders are criminals & have looted the country thru the central banking model. we are going into the second American Revolution against the very same people, the British fractional reserve debt based money system. Greg, you are one of the few who can report the truth ! (remember that Pulitzer Prize is out there just waiting for someone to expose the scam & looting!)
    we’re all going to end up poverty-ridden with no inheritances for our kids & grandkids if this continues. the debt is fraudulent, these people are earning interest on money created out of thin air on a computer keyboard.

    • Greg

      Thank you Lynda for your kind words. I am just hoping to save some folks and put themselves in a better position to survive this mess. My tip, buy the coins of your country. Canada and the U.S. both have beautiful minted bullion in gold and silver.

  15. Marc Farmer

    Hello Greg,

    Many thanks for the countdown synopsis of the current moral and economic balance sheet for our global community. Looks bad. If I were an Alien viewing our planet with an eye to maybe settling down with us humans, seeing what I see, I would very quickly high-tail it out of this solar system. Nothing to offer, morally corrupt, no love, little intelligence. They’ll probably return to see how the dust settles.. our dust. Buy low sell high.

    Keep up the good reporting.

    • Greg

      Thank you Marc and Frosty.

  16. Rod

    To change the system you have to vote out the incumbent regardless of party. Do this at two elections and you have completely turned out all the corrupt time servers who act for lobbyists. Tell your friends. I beleive you have an election coming up – good luck.

  17. George Too

    Great artile Greg! I miss the written articles but I do love the video

    • Greg

      Thank you George Too!

  18. Liquid Motion

    Living in denial is…….. a way of life!!!

    A prime example of what is happening in the US today happened in Germany in the 1920’s. Even the educated and well to do find it difficult to come to terms with reality. Its easier also to turn a bind eye because “reality” is too harsh/painful for some.

    One thing is for certain it doesnt get any better before it gets a lot worse. Connect the dots (its all there for everyone to see). Open your mind and let the pieces of the puzzle fall together.

    Today’s world economy is far too complex to attempt to resolve the problems we are now encountering with 20th Century thinking and attitude. What was once conceived as an economic recession has become a very bad recession and possibly a depression. The complexity of this equation is the multiplicity of layers. We are almost immune to the number of zero’s included in data when it is released or captured as we are to the terminology/vernacular. Classic symptoms of denial.
    OR… possibly that the populace was never meant to understand our current dilemma.
    Did you know that the word dilemma is of Greek origin.It is defined as a problem offering two possibilities, neither of which is practically acceptable. How appropriate indeed.

    Just for the sake of words and meaning here are the various types of dilemma that we may see (courtesy of wikipedia):
    Double bind: conflicting requirements ensure that the victim will automatically be wrong.
    Ethical dilemma: a choice between moral imperatives.
    Extortion: the choice between paying the extortionist and suffering an unpleasant action.
    Fairness dilemmas: when groups are faced with making decisions about how to share their resources, rewards, or payoffs
    Hobson’s choice: a choice between something and nothing; “take it or leave it”.
    Morton’s fork: choices yield equivalent, often undesirable, results.
    Prisoner’s dilemma: An inability to coordinate makes cooperation difficult and defection tempting.
    Samaritan’s dilemma: the choice between providing charity, improving another’s condition, and withholding it, preventing them from becoming dependent.
    Sophie’s choice: a choice between two persons or things that will result in the death or destruction of the person or thing not chosen.
    Zugzwang: One must move and incur harm when one would prefer to make no move (esp. in chess).

    A quick glance across the numerous types illustrates that the world is awash with many dilemmas. One can catergorise each and every circumstance that you describe in this blog entry into one or many of the above definitions.

    It still doesnt provide the solution. Observations are very valid….nonetheless. Addressing them is the important part…and this can only be done when we remove ourselves from the denial stage.

    The five stages of Grief (Kubler – Ross model) takes us all through the ANGER phase next, before we move onto bargaining , depression and then acceptance.

    Denial be gone !!!

    • Greg

      Liquid Motion,
      Fantastic comment and analysis!! Thank you for taking the time to write and post this.

  19. Michael Reyff

    I disagree that we are a nation in denial. In my candid observation, we are effectively a nation in stupidity and ignorance. The facts are that over 90% of our population is economically and financially illiterate. The average American has no idea what is being done to them. Therefore, you cannot be in denial if you do not possess the knowledge that is to be denied.

    The Banksters and Political Elite are doing what any superior predatorial animal does when it comes upon easy food – they Feast!

    As I have stated in previous posts, I feel that I am on jetliner that has been hijacked by Economic and Political Terrorists and the only thing I see in the foreground is the World Trade Center. Deja Vu?
    This will not end well at all!

    OBTW – With regards to the QE to infinity, the reason why inflation has not kicked in yet and may not in the near future is that the printed $s are being fed to a very small select group of EconomoPols aka Banksters and Politicians that are not allowing the the $s to be circulated in the broader economy. Once they are forced to circulate the $s in the broader economy, inflation will explode like a Southern California Santa Ana wind driven forest fire.


    • Greg

      Thank you Michael for your spirited analysis!! Good stuff man.


    • George Too

      You wrote, “The average American has no idea what is being done to them.” I can not disagree that the average American is stupid. However, anyone who has ever had a checkbook or credit card understands that you only have limited resources.

      • Michael Reyff

        George Too:
        Anyone who has common sense can add and subtract and be financially responsible – agreed. Unfortunately, there is huge number of people including politicians out there that can’t and they vote.

        Most concerning are the banksters and politicians spending wildly with out consequences knowing that they don’t need a check book or credit card because Uncle Ben Bernanke will print money for them to infinity and beyond.

  20. Scott

    Thanks so much for keeping us up to date on real news that greatly impacts our lives. I am greatly concerned about our future because lawlessness in the highest places is being intentionally ignored. And it’s not only fraud and theft. Count murder in there as well. There are suspicions surrounding the deaths of two of the CNBC executive’s children the day after he made the decision to publish this news story on the CNBC website. The news story was quickly taken off the website almost as soon after it was published. Sounds like the banking elite made a call to the CNBC executive! As for the murders, supposedly, the nanny decided to murder the two little children and then slashed her own throat. The nanny survived. Why is it assumed that she murdered them when her own throat was slashed? Doesn’t this run counter to common sense?

    • Greg

      Yes it does Scott, Yes it does! Thank you for the info!!!

  21. Steve

    Nation of Denial? Hardly…you mean a Government that is deaf and has their own agenda and priorities very different to the majority. Yes we citizents in the Tea Parties and 99% have been screaming and we see it every day as the unemployed, shelters, food banks, the broken cities like Detroit. So when we protest we are quickly supressed and in fear of prosecution. Our Government would rather spend Trillions on fighting a few terrorists than achieve full employment and prosperity here. Read the article “Why Estonia Is Beating the Eurozone” and see how the US Government should manage its finances. Definately thanks Greg in uncovering the realities that our Government ignores.

  22. Will Swanson

    If my geography serves my correct, the nation of denial is Egypt.

  23. Brian

    The substance abuse analogy is a strong one, almost literal. Anyone out there who has survived the throes of addiction should shudder at the thought of this happening on such a large and collective scale……..and be sobered by the reality that addiction is never “cured”, only defeated on a continual basis.

  24. Agent P

    ‘How long will this go on’…? A lot longer than most think. At about the same time the incessant doom & gloom tirades go silent is when you will want to bail – quickly. That could be next year, or in 5 years… And likely the best way to forecast anything – assuming that you can, is to pay attention to what other major economies are doing with regard to trade with emerging countries and the relationships being built therein. The ‘net’ as it were, is being cast outside the boundaries of U.S. purview. In other words, while we dither with Republipukes vs. Libtards diversions, and the hyper-critical importance of homosexual marriage, our ‘trading partners’ are Trading outside of our ability to bully them into $USD submission.

    • Greg

      Agent P,
      Good stuff man!!!

  25. gregory m. kinney

    Greg, : just read that japan’s national debt- to- GDP ratio is 200%, worse by far than even Greece… Why is that not alarming to economists? Shouldn’t that be of great concern to the US, one of its biggest trading partners?

    • Greg

      Yes Gregory kinney, but as America burns Congress and our leaders in business fiddle. I don’t see how this ends well for the common man, do you?

  26. Jerry


    Some great insight !! Also add to those facts that there are 10,000 citizens a day retiring in the USA. How are these retirees funding their retirements? Trying to sell their underwater houses. Who is there that qualifies for a loan to purchase them and keep housing prices supported? Also they are selling stocks but who is there to buy supporting the equity prices?

    answer: A printing press

    We are in BIG trouble !

    • Greg

      Thank you Jerry.

  27. Peter Perfect

    Dear Greg, I enjoy reading your opinions and replies you get. I cannot disagree with what you say, and do believe the problems will not be resolved until money printing stops and debt levels are drastically reduced. What I would like to hear about is “How do we best protect ourselves from the oncoming train wreck?” Most of your readers are aware of the problems and cannot do much about it, so how about focusing on the protection aspect for a while, and lets generate some useful discussion. Thank you

    • Greg

      Peter Perfect,
      Thank you for your comment and question. I will say at this point you must take steps to protect yourself as best as you can. For those who can you must put a significant part of your liquid assets into physical gold and silver coins. It is up to you to chose how much. (This is an insurance play and not a money making play.) If you are not rich you should at least try to acquire some silver coins. (I do not sell gold or silver coins so I do not have a dog in this fight.) No matter who or how wealth you are you should get your house in order. Fix or repair all that is wrong with your house and transportation. You should store some food and water. I used to live in Florida and ever since I always have some emergency provisions. Food and just about everything else is going up in price. This will protect you from inflation as much as shortages. Look at what just happened in the Northeast. Many were totally unprepared, and are eating out of dumpsters and stealing gasoline. A financial storm is coming and it will make hurricane Sandy look tame. Thank you for your support.

  28. Wayne

    Greg….after reading your excellent article and the insightful comments from so many fine folks one thing is clear beyond a shadow of a doubt & that is our self annointed media and political elite have auccessfully created a true parallel universe. Their side of this new paradigm is full of fluff and nonsense that’s creates trillions out of thin air, 7.8% unemployment when we all know it’s well over triple that, tens of trillions of unfunded mandates that don’t count unless they say so and on & on ad nauseum. That’s why they had to create I-this and I-that, ‘swagga’, mindless comedies, etc. to keep the truth-deprived masses quite comfortable in their ignorance.

    Our side of the universe has the likes of you, Celente, Williams et al and legions of blog writers whose passion for our country is exceeded only by the arrogance of those who run it. The insightful and spot on analysis of the reality of our situation provides constant comfort to those of us trying to convince so many of our co-workers, friends and relatives of the ‘realities’ coming our way like a freight train.

    There truly is a ‘spirit of America’ that burns in the spirit of so many Americans & although it may be hard to put into words, it really doesn’t have to be ……it’s there with every post, interview, column
    and speech done by people that have hearts full of love for this country.

    On our side we have the likes of you,

    • Greg

      Thank you Wayne for your very kind words. I am honored by your comment.

  29. Vess

    The Fed isn’t creating $89 billion per month. They are creating “only” $40 billion. The rest is sterilized, “recycled” money from maturing securities and does not result in increasing the money supply.

    • Greg

      Experts I talk with disagree, besides this all changes in January when “Operation Twist” runs out of short term securities. I always like to get your comments though because you are a smart guy. Please keep them coming.

      • steele

        The fed argues that purchasing financial asset is not spending. Peter Shiff argues that just because your buying a financial asset, that still is printing thus the creation of new money into the system. Because to make the interest rates that low you have to get into the market. Push down that rate by printing. But thats just what I know. I am still learning always!

  30. steele

    This article should be featured on Max Greg for a bit of fun have a look at this:

  31. Chris

    I am a new reader on this website, and I was pleasantly surprised with this insightful article. What troubles me however, is the reference to the 43 trillion lawsuit scam being conducted by Spire Law Group (Mitchell J. Stein & Associates). This is a completely bogus lawsuit designed at exploiting the suffering of vulnerable Americans desperately trying to reclaim what has been stolen from them.


    • Greg

      That’s your opinion Chris. Here’s mine: The evidence shows bankers committed fraud on many levels. The fraud and criminal activity is in the trillions of dollars. These guys sold liar loans, packaged then in to securities with little or no paperwork, got them ratted “Triple A” when indeed they were “Toxic,” and when it all blew up in a cloud of foreclosure, they committed perjury, forgery and fraud on the court to cover their crimes and get some of their money back. Not a single banker has been prosecuted for this enormous fraud. That’s what I call “bogus!!!!!!!!!!!”

      • Chris

        Hey Greg I am not disagreeing with you on the crimes committed by the financial sector. I am actually an active enthusiast of such. The point I was making is that you should keep the fraudulent Spire Law group out of your articles. People who follow up on research will see how they are exploiting a horrible situation by promising outrageous settlements to desperate people without any intention of winning in court, and it will affect the credibility of the author who portrayed otherwise.

        After reading this i’m not sure if you know these things about Spire Law Group or not. My hope is that you simply didn’t follow up enough yourself.

        • Greg

          The Spire lawsuit is a source and a signpost on our road to perdition. Nothing less and nothing more. I don’t know about the “fraudulent Spire Law group.” I do know the fraud of the banks is in the many trillions of dollars. That certainly dwarfs anything Spire has done.

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