Next Financial Meltdown Fed Going All In – Michael Pento

By Greg Hunter’s USAWatchdog.com

Money manager Michael Pento says the massive bubble blown by global central banks is “unraveling now.” Pento explains, “It is a fact, it is starting already. If you look at Chinese shares, if you look at all the emerging markets and if you look at commodity prices, the collapse is already starting. It starts here (in the U.S.) in the fall, and it really defuses around commodities and assets in general in 2019.”

So, countries are going to default on debt? Pento says, “Yeah, but it might not be Argentina that defaults. It could be the entire world that defaults, but first, before that happens . . . the Fed is on record, and it says it made a lot of mistakes. One of the mistakes they say is it acted too slowly. Too slowly? The Fed was lowering rates in 2007. They took rates to 0% by 2008. They went very quickly. They are going to lower rates even faster next time. By the time the next disaster hits, they are only going to have 250 basis points, not 525. The Fed also said they are going to go into quantitative easing (money printing) much quicker and much faster. They did not rule out negative interest rates. In other words, the Fed says they are going to go all in immediately at the first sign that things have gone bad. So, the first time they understand we are headed for the next global meltdown, boom–all in right away . . . . They also said another massive fiscal stimulant is needed.”

What happens to gold and silver prices when the Fed “goes all in” during the next financial crisis? Pento says, “They are going to explode . . . when the stock markets melt down and deficits are rising . . . where is the money going to come from? It has to come from another unprecedented wave, a tidal wave, a tsunami of money printing from the Federal Reserve. If that doesn’t get gold and silver prices, which are on death’s door awakened from their slumber, then nothing will. . . . The physical demand for precious metals is going to skyrocket. . . .The CFTC futures positions are net short in a huge way. There are record net shorts. When that rally comes, it’s going to be a dizzying rally. . . .The inflationary pressures that are building in debt and in base money supply make me believe that the inflationary pressures are going to be unprecedented, the likes of which we have never seen. It might even make the 1970’s and 1980’s look quiescent. That’s the kind of inflationary insolvency that has been built up. When that is released, you are really going to want to own precious metals.”

Join Greg Hunter as he goes One-on-One with Michael Pento of Pento Portfolio Strategies.

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After the Interview:

There is free information on PentoPort.com. You can also read Michael Pento’s latest article called “Reality Check Now in Progress” for free by clicking here.

 

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Comments
  1. William Stanley

    Mr. Hunter: Another “pee-bringing” interview!
    Mr. Pento is one of my favorites. However, IMO, Mr. Pento may be too optimistic: Sure, there will be lots of money to be made shorting the financial markets IF your counter-parties survive long enough to pay you. Shorting likely early victims (I’m thinking Tesla) might make sense but, obviously, you can’t wait too long to get into PMs.
    After raw physical survival, we need to focus on trying to anticipate where, how, and to whom the “helicopters” will be dropping the money. No doubt Mr. Pento is right that not very much of it will be dropping into pension funds. What companies make tents?

    • Jack

      Be prepared for this to go on much longer than anyone has expected, since the fake economy detached from the real one many decades ago. David Morgan is now pushing out his time of reckoning to 2020 or 2022. They now have very sophisticated computer algorithms to manipulate markets and infinite money to patch any problem areas. So long as they can keep inflation in the real economy under control, then metals will continued to be suppressed.

      • William Stanley

        Jack,
        I have to admit that this has already gone six or seven years longer than I thought it would.
        Although I’m heavily into PMs, I can’t say I’m looking forward to higher inflation. For me, inflation went out of control this very morning.
        I usually stop by a 7/11 convenience store on my way out to the desert and mountains for my daily “constitutional,” as my grandfather would have phrased it. Then horror enveloped the peace of the morning: The pastry I always get was up 5% this morning after several years of no change. My world was rocked (because my total bill was no longer $2.98, which had for so long allowed me to “tip” the cashier the two pennies — a running joke).
        Oh, and I was notified a week ago that my rent is going up 10% next month.

  2. Paul Anthony

    Yeah I had to shut it off when Pento said democrats will win in the fall. He’s a smart man and understands his field of economics better than I ever will but he doesn’t get the Trump effect or how God is also involved in what’s happening. He was talking above my head to begin with then … that just shut me down … time for bed

  3. oneno

    Yes owning precious metals is the way to go provided the PUBLIC will stand in strength (with guns) against the standing armies of the State who will legislate (at the prompting of the Banksters) precious metals as (illegal) contraband.

    Remember the crises of 2008 when the FED required that they NOT be prosecuted in order to print money to give to themselves and their member banks.

    This time it will not be a Bail-Out! This time it will be a Bail-In of all depositors monies seen by the Banks as unsecured loans by the depositors to the Bank!

    The word Bail is in reference to the word Bale and the word Ba’al that is reference to Lucifer the Devil! The Deep State (the Left) are Ba’al worshipers who have a habit of bloodletting!

    The bloodletting can take many forms as in overt wars, pedophilia (child murder, blood and organ harvesting), covert poisoning of our food and water, fraudulent unlawful legislation that takes away the unalienable rights of all living free-will men via the Strawman NAME GAME fraud, false flag events and manipulated financial market crashes that all occur on dates that correspond to PRIME numbers!

  4. Anthony Australia

    I can now listen to you whilst driving the car, makes the trip home from work a far more pleasant one.
    Thanks Greg & Michael

  5. Jodyp

    Just got the Pento reality punch. This guy comes out swingin’

    with confidence in his analysis of the coming catastrophe. AAA+ , Greg!

    • Jodyp

      And now, Greg, why not have someone on that can tell people how to prepare for what’s coming. We’ve heard about giants, aliens, cryptos, stocks, politics, metals… How bout some meat and potatoes for regular guys and gals. No, I have no preferences, maybe someone here can suggest. I just know the crowd is growing larger here and people need info. Prepper is not a bad word. You are the best at informing us.

      • paul ...

        Clif High puts some “meat and potatoes” on the ancient stories about how we humans were created … like me he feels the Annunaki were “fake” gods … and that man was really created by “fish-like” aliens (Nommos) who were our “real” Gods … I need to do more research into this … very interesting that the Apostles used a “fish” as a symbol of their common belief … and that an African tribe knew about a third star in the Sirius star system where the Nommos came from (before our astronomers did) … and that the Nommos inhabit a water world in orbit around this third star in the Sirius Star System … the Nommos are morally superior to the warmongering perverted Annunaki … the highly moral Nommos are referred to as “Star People” … whereas the Annunaki (who have no souls) are called “Sky People” … very very interesting stuff presented by Clif High well worth a listen … https://www.youtube.com/watch?v=jhZWUJ38j28

        • Beverly Kingsford

          Paul,
          If you believe that we somehow come from Annunaki, then what about Jesus being the only begotten son of the Father? Did Jesus not look human? Yes, he did. And, if His father were not also a human, then Jesus would not have looked fully human. Jesus did many miracles in the days of His ministry with the Jews, and He still does miracles all the time. There is more and more archeological evidence to support the truthfulness of the Bible. Yes, God has other planets out there in the solar system, I’m sure, and we don’t know who’s in charge of what planets. But, we DO know who is in charge of the one we are on, and that is Jesus and God the Father. There are plenty of people who have died and come back from the other side, to tell all of us about the after life. If there was an afterlife, there was also a pre-earth life. Also, when Jesus was resurrected, He was resurrected into His previous bodily, human form. And, why would He want anything else? Yes, He is now an exalted form, which is better, but why is it so impossible that God and Jesus would not want to create their own children? Why would they not want to be married and enjoy companionship with a wife or more than one wife for that matter? The Gods who formed this earth are not selfish Gods. They want to share what they have, with those who have proven themselves, who will choose the correct way and who are willing to follow the leadership of the Father and Jesus Christ.

      • SolarGuy

        Hi JodyP
        I can offer some advice.
        I have been reading articles and books, and watching video interviews for almost a decade on what is really happening rather than what the MSM tells us. (This is one of my favourite sites by the way.)
        By far the most important thing to do is to get right with God and Jesus.
        The second thing is to get out of the city if you live in one. At least have a location where you can go to when the SHTF that is in a rural area.
        The next thing is to get most of your money out of the banks and bonds etc. Keep a little in the bank for monthly expenses but other than that I wouldn’t keep lots of money in the bank.
        Keep some cash at home, somewhere hidden. This will be useful when things first goes south. Money will likely still be accepted for the first bit of time.
        Get some water stored away. About 1 gallon per day per person. Store a lot unless you have a well then you wouldn’t need to store as much. Also store some non scented bleach for water purification. Pick up a few water purification straws such as the Sawyer mini and or the Lifestraw.
        The next important thing is to get some food stored. Rice, pasta, canned meat/fish, soups, flour, spices, and canned vegetables. You should also buy some dehydrated food or freeze dried food even better yet. It lasts longer and has more nutritional value than dehydrated.
        Get some essentials stored up, any required prescription meds and over the counter meds such as ibuprofen, Tylenol, Benadryl, Oragel (for tooth aches) etc. If you can also get some antibiotics. Some people say fish antibiotics are the same and this can be acquired easier from pet stores.
        Toilet paper, tooth paste and brushes, feminine products, flash lights, AA and AAA batteries, etc.
        Get a second way to cook food rather than your kitchen electric stove. A BBQ with some extra stored propane is easiest.
        Next store up some seeds. Vegetable seeds such as tomatoes, lettuce, spinach, carrots, cucumber, etc.
        Invest is some PM, silver more than gold in my opinion. And only physical not paper.
        Guns and ammo for both hunting and protection. (Hopefully you never have to use it for the latter)
        This should get you started.
        As Mr Greg Hunter always says “Fear Not…”
        Blessings,

        MarioB

        • Jodyp

          Solar guy, thanks for all the info. Ive done your list years ago, but we have more people interested in how to protect themselves and the crowd is growing here. Just owning gold and silver ain’t gonna cut it. Thanks again.

        • William Stanley

          SolarGuy, Well done!

  6. James

    As Emerging Market (EM) stocks decline, the Russian stock market just hit an all-time high despite US and EU sanctions. The currency decline Russia had is not a big problem for 2 reasons. First, the decline has helped Russian exports to BOOM and second, Russia doesn’t have a problem when their external debt comes due because it’s just 15% of GDP and they have the ability to pay it off now, without needing to borrow.

    Russia is not like any EM country and with a huge and growing stockpile of gold, they can weather what’s coming.

    • Frederick

      James I totally agree in fact I believe that Russia will Weather what’s coming much better than most They have the resources and the people are survivors and tough as nails having been through a lot in recent history They deserve a break to be honest

      • Allen Starr

        The Dachas here in our Northern part of the Irkutsk Region had very nice crops this year. The berries were all big and sweet and especially the strawberries. We had very nice beets, carrots, onions, garlic, zucchini, and pumpkins with very large cabbages and a 2,000 lb. crop of potatoes. We sell all the large potatoes which is about 50%of the crop and more than enough to eat as well as seed potatoes for the following year which is about 500 lbs. We have some friends who need potatoes and it is the Russian way to give them free potatoes if necessary. The people are doing quite well here even though the US and their allies are trying to kill them with sanctions and trying to start a nuclear war. You can be sure that there will be a nuclear war before the Russians capitulate to the West as there will be no world without Russia as Putin has said.

        • Greg Hunter

          Good!! People with food are more peaceful including in the U.S.

          Greg

        • DB Cooper

          Hi Allen, Good to see your post … we are at the end of our hay season (finally) and our dance card is full daily!! Now we get to prepare for winter … firewood/prep the boiler … etc … the meat cooler is basically up and running and we have processed two burger cows and have four cows to process for steaks and roasts. Went flying with a friend yesterday and learned lots of good stuff… life is busy and good… hoping old age doesn’t catch up with us !!!
          Cheers, DB

          • Allen Starr

            DB
            Old age is catching up with me. I tried picking up two 15 liter buckets of sand last week and my back gave out. I’m hurting so bad I act like I’m 100 years old. Good thing we’ve only got about 20 more big cabbages to harvest and the Dacha is finished this year. You should try processing some of those big mule deer in your area. Just don’t get caught. I just about got run over by a huge bull elk on the way to the Dacha this year. What a magnificent looking animal. We got to within two feet of each other and eye to eye before he whirled away from me. Glad to hear all is well with you.

  7. Maria das Santos

    Thanks Mr Hunter and Mr Pento.
    The analysis we are confronted with,assumes truth within the data sets.Unfortunately I see little if any truth within the data sets that are widely published by government anywhere.Perhaps the only truth lies in the actions of those with money,certainly the case for the UK and Europe,so those with money are fleeing to the “safety”of the USA Dollar and assets.Whilst we see markets outside the USA collapsing those within the citadel of empire roaring,where even a momentary flash of reality is forbidden.Reality,no thieving,lying bankers have gone to prison since 2008,a few might of fallen but they are low hanging fruit.The signal is clear for this elite,they can and will continue their criminal activities at the behest of the Federal Reserve and others with no consequences for them only us peasants.We are the cannon fodder the fertiliser for the next upturn in the economy for the elite.Even the likes of Microsoft,Google/Alphabet and Apple will be sacrificed for their good,the elites’ good.
    All the models assume honesty none exist within the halls of power.

    • William Stanley

      Maria,
      I agree: Don’t trust the data or the models. This isn’t about price discovery and free markets. The models will work until they don’t.

  8. Anthony Australia

    Coming to the boil? Greg, the MSM might be trying to score moral points.
    https://youtu.be/n3UJ6yMaM4A

  9. Shadow of Doubt

    Greg,
    EvG and our sources within the Intel community both point to no less than 10 countries that are teetering on the edge of economic calamity. It may surprise some of your readers that this list includes China, Russia and India. Some computer models are predicting, that this distress or misery will arrive here in time for Christmas. SOD

    • Greg Hunter

      Thank you SOD for your intel !!!
      Greg

    • Mohammad

      SOD,

      Watch Turkey…
      Keep plz in mind the downing of the Russian plane killing its crew came on the heel of IDLIB truce that strengthens the ties between Russia / Turkey / Iran.
      Someone out there wants to throw a huge wedge in-between…
      Watch Turkey short term.

      Mohammad

      • Shadow of Doubt

        Mohammad,
        Your point is well taken. In “A Submerging Global Economy”, Egon von Greyerz has them listed in the following order: 1. Venezuela 2. Argentina, 3. South Africa 4. Turkey 5. Brazil 6. Russia 7. Sudan 8. Angola 9. Liberia 10. India— with another group of 15 countries which are also on a troubling downward trajectory. SOD
        P.S. Mix in an international conflict or a world war with such a fragile world-wide economy and the horrors would be on a scale that would be utterly devastating to this snow flake generation.

  10. James Foster

    Great interview Greg! I love USAWATCHDOG.COM! Its a place where Truth matters!
    I thank God for you!

  11. ConcAmDad

    Solid research for sure…….. will it be next year this time? ‘Been a couple months to a year away for a decade now. Remember when those tea party snake oil salesmen were going to storm washington and set things straight?

  12. Jerry

    Presidential alert pushed back.
    https://www.nbcnews.com/tech/mobile/fema-s-presidential-alert-test-postponed-some-americans-want-disconnect-n910406

    While I can only speculate the real reason, I can tell you with 100% degree of accuracy that something “ IS” going on behind the scenes that we don’t know about. Without going into detail, one of my contacts has been put on communication lockdown for the next 30 days. It could be nothing? But I find the timing very suspect.

    • Jerry

      Martial Law review for dummies.
      https://youtu.be/-1L3CtY8SCQ

    • Stan

      Another one of your unconfirmed sources? ( ha ha ha)

    • ConcAmDad

      Another delay….. what a shcck… so still a couple months away from anything happening. Meanwhile another 250 pt dow surge. It’ll be at 27000 within a week.

      • jim

        What does it matter if you don`t or can`t take it out

  13. Mike

    Michael Pento is a smart guy with a good model of the current system. His predictions totally fall apart if the financial system is changed from a debt based system into something like a gold based system via a global debt reset event. The totally blind money managers who allocate everything between dollar denominated assets will hurt their clients the most. If Trump seizes assets of the banker criminal cabal and applies it to US re-industrialization, any current model will fall apart and we will be in a new world.

  14. Roger D

    Virtually all guests acknowledge that Americans are drowning in debt. They warn us to brace for global financial meltdown and skyrocketing inflation. They urge us to invest in gold and silver.

    Like Michael Pento said, gold and silver prices “are on death’s door”. OK, so we determine our asset allocation and purchase PMs. Easy. Call APMEX or some other dealer. Done!

    So is that it? Does anyone else believe that we and our loved ones will likely face chaos, death, disease and starvation of possibly Biblical proportion? If so, what action should we be taking next?

    My suggestion would be to go forward with a mix of guests including folks like James Wesley Rawles founder of Survival Blog and Jess Pennington of Ready Nutrition.

    • Jodyp

      Thanks, Roger D !

      • Roger D

        Jodyp, sad to say but survival gets no traction here. I fear that when the Schumer Hits The Fan (which is all we talk about), folks here will only have bars of gold to feed their loved ones. Surely many have young children. So many blessings such as an abundance of inexpensive food are available today. Do you have any ideas?

        • Jodyp

          Roger D, I’ve had my say. As I’ve posted before, all the gold and silver in the world, ain’t gonna cut it. And right on the food. Buy today, it’s on sale! Prices always go up!

    • Greg Hunter

      TSI,
      And you can create a society with the Rule of Law in the UK and not Sharia law under the fraudulent EU. You can also you back your currency with silver (aka Pound Sterling). That would take England back a hundred years and put it in a much better place. Without England 2 world wars would not have been won. Let’s make England Great Again!!!
      Greg

      • Dr Darryl Jewett

        Plato wrote 2,500 yrs ago that conscientious men don’t need laws to be conscientious and unconscionable men will always find ways to violate law.

        Meaning that more laws don’t make a more just society but a less just one. The rule of law is not good thing. Don’t promote the rule of law. It only helps unconscionable men and hurts conscientious men.

        As in: if guns are outlawed, then only outlaws will have guns. Our Legislators need to eliminate many laws from the books instead of creating new ones.

        England enslaved my forebears. That’s why they came here to North America (Quebec primarily until they were drive out of there too). After the first revolutionary war by the Colonies, my forebears were driven from Quebec into Maine and Louisiana Territory.

        England was never great. It was entirely dependent upon slave labor. Slave labor from people like my forebears: the Irish and the Scots. And the Norwegians. Without a brutal authoritarian rule that relied entirely upon violent persecution and subjugation of other cultures, there would be no England.

        England was never great. And the US was only great (barely) until the “civil’ (second revolutionary) war. I wouldn’t be looking to promote the rehabilitation of England. We can’t even rehabilitate ourselves.

      • Beverly Kingsford

        Greg,

        Let’s make England great again? Has England every really been THAT great? They have been a favored nation for many years it seems, but they have been dirty in many ways. What kind of country goes around the world, conquering other countries, wanting to have control over the rest of the world? England would have done that if possible. Maybe they are still trying through the U.N. All those big banks over there in England have GOT to have created some pretty dirty politics. If they don’t get themselves totally free from the European Union, they will get pulled under with the rest of Europe.

  15. Tad

    My recollection of late 1970s early 80s is that official inflation never topped 18 percent. Those weren’t grand times, so 18 percent now would probably have more severe consequences: Just a momentary blip within a day where it could rise to 100 percent and counting.

  16. Matt Jaymes

    We start the week with Catherine Austin Fitts then move to Michael Pento. It doesn’t get any better than that. Pento is an awesome educator and sharp & sophisticated money manager, I can attest to this personally.

    Greg: you can’t set the bar any higher! (Can you??!) lol

    Matt

    • Greg Hunter

      Thank you Matt!
      Greg

  17. Mohammad

    Greg,

    Gold price will never see the day’s light until the human bubble busts, until that happens it will remain smashed.
    When mr. Pento will ever get it?

    Mohammad

    • Greg Hunter

      Mohammad,
      Lot’s of very rich people are disagreeing with you. Non delivery event will blow it all up.
      Greg

      • toknormal

        How exactly will a non-delivery event “blow it up” ? I see all these gold investors with their tongues on the floor waiting for a Comex default but when I think it through the conclusion I unfailingly arrive at is “so what”. Everyone holds paper gold – even if it’s no more than a vault custody ticket – because it’s the only way to trade it these days. This distinction of “physical” vs “paper” is delusional. What exactly do you think’s gonna happen ? – the worlds vaults will open and metal starts shipping to all corners of the planet ?

        A gold market default will make no more impact than a housing market default. There will be a blip in the price and barely anyone will notice. Also, Catherine Austin Fits is wrong about governments wanting all financial movements to go electronic and “transparent”. Transparency is the last thing they want because that benefits the general population far more than government insiders who rely on obfuscation to keep the scams going.

        As for a monetary medium/asset, gold has history on its side but that’s about it. For a start it’s physical, so incredibly restricting since you don’t have any access to your wealth unless you’re standing right next to it. You go down the street you need to take it with you. Secondly it’s about as fungible as a bag of liquorice Alsorts. It isn’t enough to have “gold”, you’ve got to have the right type of gold – bartering trades will distinguish between bars and coins for example. It isn’t divisible so if you want to pay for a loaf of bread with a gold coin – tough, you ain’t gettin no change.

        All gold is good for is storing value but to spend it, that value it needs to be converted back into paper. I can suggest a much improved monetary medium which which does not require converting “into paper” but I’ll refrain from stirring up on dust on here.

        Thanks again for the interviews. Very enjoyable. Sorry I appear to be the only dissenter.

        • Greg Hunter

          Tok,
          Houses are not money and are not held in reserve. Non delivery event blowspaper pricing system up.
          Greg

          • toknormal

            I doubt it Greg. In the gold market, a “delivery event” amounts to no more than exchanging one custody ticket for another.
            Gold is a monetary asset but it is not “money” because “money” is something that has liquidity, fungibility and divisibility against the prevailing commercial background. We are not living in Marco Polo dreamland but in an age of instant global trading where precious metals are about as liquid as a brick, hence the huge derivative layer.
            That fact isn’t going away just because some exchange defaults on a delivery.

            • Greg Hunter

              “To,”
              Doubt all you want. That won’t stop it from happening.
              Greg

              • toknormal

                Maybe a more analytical reply would have been useful.
                Gold defaulted years ago. The nature of that default has manifested itself in a derivative mountain called “gold devaluation”.
                How much do people need their noses rubbed in the mud to understand that. Please start reporting on reality rather than Marco Polo hopium.

                • Greg Hunter

                  “tok,”
                  Do you see the analysis and information I put on this site (for free)? I do not need a homework assignment. I interview experts that deal in precious metal by the ton. They use verifiable names and have legit credentials “tok”. You are the one pedaling “hopium.”
                  Greg

            • toknormal

              Because bitcoin is functional as a monetary asset on platforms where gold isn’t. It is mobile, fungible and divisible where gold is not mobile, not fungible (unless you happen to have a foundry handy) and not divisible

              Regarding merchant acceptance, what happens at the point of sale in terms of trade denomination is not a measure of whether it’s “money” or not. What matters is the source of value backing that trade.
              If I earn my salary in GBP and go on holiday to France, I’m still spending the “Pounds” in my bank balance even though a particular trade may be denominated in Euros.
              Similarly, you can spend bitcoin anywhere there’s a credit card accepted because there are now plenty of services which allow you to fund your Visa or Mastercard balance with bitcoin.
              I’m not trying to knock precious metals but rather point out that the discussions on PMs are kind of myopic. They never get past the “manipulation” mantra whereas in fact a much broader scope of analysis is required to properly do justice to the performance of various monetary assets.

              • toknormal

                You’re playing with semantics. A store of value either works or doesn’t. If you have a bitcoin-backed debit card that you can spend anywhere in the world, then it’s money. Again, don’t confuse eCommerce systems with money. One facilitating the sale, the other is backing the value.
                This is something you can’t do with gold – contrary to your assertion – because precious metals unfortunately do not travel through wires so you can’t “top up” your gold backed balance with the bars stashed under your floorboards since they have a slight problem with travelling through wires. In other words, once again gold is Iliquid so it has to be turned into some form of security. (Not just at the point of sale like bitcoin but to actually move the underlying asset around).
                Hence the derivatives pyramid, hence the devaluation.

                • Beverly Kingsford

                  toknormal,
                  The currencies will fail and hyperinflation will set in. This will cause metals to be used. But, before long, people will realize that they need to be holding on to their food and other essentials, and it won’t matter how much gold you have. What will matter, is how you are able to sustain yourself and how you are able to defend yourself.

        • Frederick

          How will it blow it all up? Simple By showing the world the scam and Ponzi that the so-called metals market is and how worthless fiat money has become That’s how

        • Colin - 'the farmer from NZ'

          Toko
          You said;
          “This distinction of physical vs “paper” is delusional”…

          With all due respect perhaps the “delusion” sits somewhere else! You are apparently blissfully unaware of the fact that paper claims to physical are at present in the realm of 200:1!

          To quote from the below link;
          “Nothwithstanding all the other information contained in this disclosure, this number represents the confirmation that the Comex is nothing more than a pure paper gold market. It’s nearly 100% derivatives. It’s the imposition of derivatives by the Fed and the U.S. Treasury – via their agent bullion banks – on the gold market in order to control the pricing discovery mechanism.”

          http://heartlandpreciousmetals.com/new-record-comex-paper-leverage-ratio-go-paper/

          • toknormal

            By “delusional”, I meant that it was delusional to imagine that they don’t have an interdependence and that “paper” can blow up and physical can’t.
            The paper needs the physical for value and the physical needs the paper for liquidity. One cannot exist without the other. This is why precious metals are dysfunctional now as monetary bearer assets against a background of global, electronic commerce.

            They can no longer support both ownership and possession co-incidentally in a trade. (Unless you happen to have a ship handy and a spare couple of weeks to wait for the trade to clear).

            These facts are being priced into the precious metals market and the rehypothecation is a symptom of its dysfunction IMO, not the cause as is widely touted by PM commentators.

            • Colin - 'the farmer from NZ'

              Tok
              In effect the Comex paper market is made up of sellers who don’t own any gold who sell to buyers who don’t want to own gold either…and yet this farcical charade somehow sets the physical value…go figure…you could hardly make this shit up!

            • toknormal

              How do you know that central banks don’t hold bitcoin ? Most of them are likely to hold more bitcoin than gold – at least as a proportion of the total supply.
              As for being “technologically superseded”, bitcoin already has been. There are plenty of more technologically advanced blockchains already and have been since around 2014.
              As a service, technical superiority may matter. But as a store of value, what matters is capitalisation and hashpower which is where bitcoin has continued to dominate and only looks like consolidating.
              Try selling a “technical superior” Mona Lisa for $400 million and you’ll soon see why 😉

        • toknormal

          TSI – you’re conflating money and monetary assets with eCommerce systems.
          An eCommerce system such as Amazon’s doesn’t actually take any “payment” as such. It simply secures a trade on a contractural basis and then passes it to some settlement layer where the real monetary movements occur. Those movements will occur in all kinds of currencies and denominations that are not necessarily the same as those at the point of sale. So Bitcoin is no different from any other store of value in that respect. It’s the “value” that backs the trade which is what’s important.

          Re. The Comex, it’s already in default. It’s public knowledge that gold reserves are multiple rehypothecated, but the reason for that is that the physical gold itself cannot be readily traded (

          Bitcoin uses public-private key cryptography to “split” the controlling aspect off from the storing aspect of the address balance. This is what makes it “money” because it can freely circulate without the holder loosing control.

          With gold, the controlling aspect is co-incident with the storage (or “holding) aspect. You can’t control it unless you hold it so it doesn’t circulate. Instead, contracts of ownership are created and they circulate instead – being electronically liquid.

  18. Frank DiTullio

    Greg and all Watchdoggers….please enjoy….HOPEFULLY this day will come!
    https://www.youtube.com/watch?time_continue=102&v=DoCcGq31gNU
    Frank D

    • Greg Hunter

      This is funny Frank!! Thanks !
      Greg

  19. iwitness02

    When the dust settles, I hope that the Fed no longer has its printing presses. It is time to go to real money. It is time to make our own labor more rewarding for us. We spend our lives supporting criminals. It is time to start supporting ourselves. But we have to overcome the criminals first. That is the hard part, even though we vastly outnumber them. All the propaganda keeps we the people divided and therefore weak. The truth will set us free because we can unite under the truth and become powerful.
    Thank you Greg and Michael for bringing more truth to the table.

    • Frederick

      That’s their modus operendi Create chaos and division and rule over us How that can be overcome is very difficult to imagine

  20. DerStan

    Gold and silver prices “SHOULD” explode higher that doesn’t mean they will. Stored food is a better insurance program…

    • Greg Hunter

      Why not have both Stan?
      Greg

      • Russ

        Exactly right. Food and other necessary items are for use/consumption during the crisis. PM’s are to move your assets from one side of a reset (debt/currency/whatever) to the other side. You need both.
        PM’s alone and you’ll be spending your gold/silver on food during the chaos. Food alone and you’ll have nothing when the crisis ends. Moderation in all things.

        • William Stanley

          Russ, re: “Moderation in all things.”
          Agreed, great point.
          This is a devilishly difficult issue to think about logically: You gave an excellent example pointing to the tradeoff between the benefits of owning more food on the one hand, or more PMs on the other. Same with self protection and food (and everything else).

      • DerStan

        I agree and do stack both. My point is we have passed the point of rules and common sense. Gold should be higher now like 10K per ounce. The ability to manipulate the price lower will go on much longer than anybody thought possible. When stacking food my first choice is freeze dried due to the 25+ year shelf life. I am confident the price of food will only go higher…

        • Tad

          Rickards and Pento both simultaneously discuss having 5 to ten percent in gold and silver, and an imminent hockey stick upswing in PMs.

          We’re not in conservative economic times re debt, and their allocation rules are passe.

    • Frederick

      Greg is absolutely correct Why not have both indeed?

  21. paul ...

    As Pento says: “the collapse is starting” … Trump’s trade tariffs are pushing up price inflation … couple that with Fed printing to cover war expenses of the neocons … bail outs of the banksters, etc., etc. … all will lead to a dollar decline … pushing interest rates higher … the stock market lower … and gold and silver to the moon!

    • Frederick

      I wish it wasn’t true as I get my SS money in dollars so it will hurt me but I get the feeling that the dollars best days are pretty much in the past at this point

    • JungianINTP

      Define, “neocons,” Paul. So very, very few can provide an in-depth definition. This article may be the most insightful, truth-telling report about neocons and their deadly machinations–but, once again, Greg Hunter, this warning!: Study the entire article before risking posting it:
      http://www.newoxfordreview.org/article.jsp?did=1205-editorial

      -Rick

      • paul ...

        My definition of a neocon is: “someone who loves war and the indiscriminate killing and sacrifice of women and children” … neocons look up to the warmongering Annunaki “as gods” … but the Annunaki are soulless devils who had to flee Mars to avoid retribution from God the Father for their evil immortal deed of blowing up the fifth planet in our Solar System (creating the asteroid belt) … evil human neocons want to imitate the Annunaki (based in Antarctica) and do exactly what the Annunaki did years ago (start a nuclear war in the Middle East) … seems an Armageddon “already took place” in the ME years ago … simply by the fact that a few feet under all the sand in the ME … we find green glass!

  22. flattop

    Greg:
    It seems all your guests comment that the dollar is, or soon will be collapsing. So explain to me how that will affect the dollar in my back pocket.

    • Prophet

      today you can buy 10 widgets tomorrow you can only buy 1

    • William Stanley

      Flattop: I just wish they’d make dollar bills a little softer and more absorbent.

    • William Stanley

      TSI: As I recall, you recently recounted a situation where you had neglected to carry cash. Let that be a lesson to you.
      I, too, am occasionally unprepared: I had an emergency some miles out in the desert a few weeks ago. I’ll spare you the details except to say that there is a reason that sage brush commands such a low price.

  23. al

    Pento is 55? He looks like he’s in his early 40s! What is he doing right?

    Another home run Greg, Pento is top notch.
    I’ve heard this over and over again from many people in the know, one day we’re going to wake up and find out that the system has blown up.
    I was wondering what the private Fed was going to do during such a scenario, what Pento says makes sense all around, they will have no other choice but to go nuclear and it doesn’t sound like it’s going to work out for them this time.
    What Pento says will make the private Fed look real bad and if the government doesn’t Federalize the “non Fed” right away, there will be chaos.

    The Enemy Media will not talk about this, they would rather push false dossiers or fake anti-trump bimbos up our face and have the red ALERT! banner out 24X7 . Is it any wonder why Sponge Bob has higher ratings than the Counterfeit News Network (CNN), or even FOX in the hen house news?

    Thank you Greg. God Bless.

    • Frederick

      The answer is a MUCH younger wife and stay away from the Clintoons

    • oneno

      Pento is 55? He looks like he’s in his early 40s! What is he doing right?

      Aging is a function of the health of the Pineal gland. Do all the things to keep your Pineal gland from atrophying and keep your youth.

      What are these things to counter the atrophying of the pineal gland?

      1. Meditation – 20 minutes twice a day in the morning between 4 – 5 AM and Concentration Meditation in the evening between 8 – 10 PM.
      2. Being mindful of the foods that one ingests, avoiding all endocrine disruptors, filtering tap water, and controlling urine pH levels with leafy green vegetables and alkaline water daily. The skeletal structure cannot pull calcium from a diet that makes the blood/body chemistry acidic and will get thinner as one ages.
      3. Moderate exercise – daily commute by bicycle 40 minutes each way.
      4. Adequate sleep.
      5. Financial health can ease the way to physical health.

    • Diane

      Fiji water

  24. jon

    Hi Greg, Here is a riddle. What does this mean.
    The 4th estate is now the 5th column to end like the 3rd regime.

    • Greg Hunter

      Jon,
      Tell us.
      Greg

      • jon

        Well. The 4th estate is the Press/Media. The 5th column refers to the Spanish Civil war, where Nationalist general Emilio Mola told a journalist in 1936 that as his four columns of troops approached Madrid, a “fifth column” of supporters inside the city would support him and undermine the Republican government from within. The 3rd Regime or Empire refers to the 3rd Reich. We know what happened to them.
        So it appears that now the Press Media has turned into a subversive deep state to undermine the USA. But in the end will wind up failed like the 3rd Reich.

        • Greg Hunter

          Thank you Jon!
          Greg

    • Justn Observer

      Hmmm …? How about Steve Pieczenik reveals who he thinks is behind the anonymous NY Times Trump letter = John Bolton, the NYT and Mike Pence?
      https://youtu.be/qDIyVc9HPLw

      • Greg Hunter

        J O,
        Not Bolton and not Pence. Former CIA Head Brennan is involved say my sources.
        Greg

        • Justn Observer

          I hear the same and Trey Gowdy confirmed so on FOX today. And also that he has read everything Trump ordered released and there is nothing in them that is of a national security matter…embarrassing yes to both DOJ and FBI . Also Pieczenik sure laid bare a lot of background of character of many which was not widely known. Pieczenik seems to have been deeply placed long enough to know… including the tilt Bob Woodward holds. But as it was more a psych eval. of ‘personalities types’ with close contacts within the WH…doubt ‘anonymous ‘ is Brennan…but sense his analysis – and experience smoking out 3D chess personalities of the intel world…and the trails of conscience and motives…he might see/sense what others might miss or never notice…. as they say…we shall see !

  25. Barn Cat

    I don’t believe for one second that the Fed has stopped money printing and is now tightening. It has to fund part of the the trillion dollar annual deficit every month. Plus, most likely, it’s bailing out the banks that Turkey can’t pay. Turkey has $250 billion in dollar denominated debt along with a collapsing currency. And it’s not just the debt it’s also the derivatives. Deutsche Bank alone has $5 trillion in derivatives.

  26. Tad

    What Michael Pento could have added is that zero chance exists for late-stage Austrian economic influence, except for individuals hoarding precious metals.

    • Greg Hunter

      Tad,
      Good point!! Thanks for making it here.
      Greg

      • Tad

        The only “vote” to be significant before and after midterms.

  27. John M.

    We have an official $21 trillion deficit. We also have another hidden $21 trillion deficit discovered by Dr. Mark Skidmore. What makes anyone think that those numbers are even remotely accurate as the gov’t lies about everything? Are we only scratching the surface? America’s real financial situation has been covered up for decades rather well, just as the widespread corruption in Washington has been concealed from us. But I’m guessing it cannot last forever.
    Money printing has always been going on and will always be going on, both behind the scenes and in front of the curtain. It will accelerate into hyperinflation, as we are at least 10% inflation right now, maybe more. Some day the emperor will be seen for having no clothes and the US empire will suffer the consequences of allowing such foolish maniacal leadership.
    We must pray that Pres. Trump’s leadership is a complete departure and reversal from the normal criminal and fraudulent enterprise of American governance since at least JFK (actually Jekyll Island and the start of the Federal Reserve). We need military tribunals hanging traitors (or humane lethal injections for the faint of heart) and an honest money system based on the foundation of GOLD. Anything less is a futile enormous failure for Americans and people all around the world.

  28. Country Codger

    Hello Greg,
    Please remember that in 2019 there is an unusual pattern of three (3) super cycles, not just the usual two. Remember also, that the cycle begins in December (2018) going into January and February of 2019, then the summer and then the fall of 2019. That is three(3) chances for men to screw things up instead of two(2). It does not mean that anything will happen but these are the times of the greatest propensity for things to happen.
    Lo Iyrah!
    Shalom,
    CC

  29. Mohammad

    Greg,

    Russian’s punishment to Israel has commenced already in an escalation that is unprecedented. Russia is closing the east Mediterranean air space to every thing including flights from and to Syria/Lebanon/Israel.
    They are claiming conducting military training in the east Mediterranean Sea that includes testing new missiles and it poses danger to flights. They did this a bout a week ago but never extended the operational space to the degree they are doing now, the article is in Arabic unfortunately but you can verify from other sources:

    http://www.aljazeera.net/news/arabic/2018/9/20/روسيا-تغلق-أجواء-شرق-المتوسط-هل-بدأ-عقاب-إسرائيل

    I will try to quote an English source to this info….

    Mohammad

    • paul ...

      The Russians have also shut down the air space over Antarctica so the elites can’t escape in their “Annunaki saucers” to an off-world hiding place on Mars … they are all being “denied the ability to escape” from the punishment they deserve for all the evil things they have done here on Earth … and they will all be tried before a Military Court … and justifiably hung for all their crimes against humanity!!

      • Bob

        Sounds reasonable…

  30. Gina M Mancarella

    THERE’S A WAR ON AGAINST WOMEN !

    THIS TIME WOMEN ARE FIGHTING BACK !

    THIS IS THE “ME TOO” GENERATION !!!!!

    The time for abusive misogynist white middle aged males is OVER !

  31. Luis A Garcia

    My question is, how much PM vs. cash should I hold? What happens to cash if it all crashes and burns? Will my green back be worth anything?

  32. Justn Observer

    Greg… interesting that there were rumors they were thinking of doing same to Gorsuch and he and Kavanaugh went to same HS and were several years ‘behind’ the Accuser of Kavanaugh. Seems the yearbook nails down a few parties and years…and that the ‘girls’ were targeting ‘younger guys’ ! So that would have made Kavanugh about 15 or 16 ? But if he was not there…at some particular party…from the comments and posts one can see why few ‘remember’ anything…as it was almost a ‘rite of passage’ not to ! lol Will let the Watchdogger;s make up their own minds…
    Yearbook that was posted by True Pundit…that was scene captured before it was scrubbed just after the Feinstein outing…
    https://cultofthe1st.blogspot.com/2018/09/why-christine-blasey-fords-high-school_19.html

  33. Gina M Mancarella

    Greg, You can ignore my posts, but You cant ignore a movement ! Thousands and maybe millions of women will be protesting the sexual objectification and perverted assaults and rapings that we have been subjected to for decades by men of your ilk.

    The truth isnt pretty Greg, but WOMEN WILL NOT TOLERATE THIS OUTRAGEOUS ABUSE ANY LONGER ! ! ! ! ! ANGRY WHITE PRIVILEGED MISOGYNISTIC MEN ARE THROUGH !!!!!

  34. G.Berky

    Has The Civil War Begun?
    CNN
    Cooper debunks congressman’s conspiracy theory? (2017)
    Duration: 05:51 7 hrs ago
    Rep. Paul Gosar claimed the white nationalist rally in Charlottesville, Virginia, was some sort of left-wing plot. CNN’s Randi Kaye spoke with the congressman.
    https://www.msn.com/en-us/video/news/cooper-debunks-congressmans-conspiracy-theory-2017/vi-AAAt1Ko?ocid=spartandhp

    Congressman Gosar Cosponsors The Articles of Impeachment For Rod Rosenstein
    Washington, D.C. — Today, U.S. Congressman Paul A. Gosar, D.D.S. (AZ-04) released the following statement after U.S. Rep. Mark Meadows (R-NC) and Rep. Jim Jordan (R-OH), along with nine cosponsors, introduced Articles of Impeachment against Deputy Attorney General, Rod Rosenstein:
    “It’s time to stop letting unelected bureaucrats rule over the people’s house,” said Congressman Gosar. “Rod Rosenstein has repeatedly failed to deliver requested documents, ignored subpoenas and ultimately stonewalled Congress. His obstruction and reckless actions have completely undermined the American people. In order to restore the power to the people, we must impeach Rod Rosenstein. I will continue to fight to shine a light on the facts and ensure power is restored to the American people.”
    Date: Wednesday, July 25, 2018 Contact: Melissa Brown
    [email protected]
    https://www.youtube.com/watch?v=1N-m83vYr-Y

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