Scarier More Dangerous Market Crisis Blowing Up Now – John Rubino
By Greg Hunter’s USAWatchdog.com
Financial writer John Rubino says the currency crisis happening in Turkey is a stark reason for owning something a government can’t print more of at will. Rubino points out, “The function of gold and silver is to protect you against government mismanagement of your currency. The emerging market countries (including Turkey) have screwed up their money. They borrowed a lot of U.S. dollars at low interest rates when the dollar was falling. They expected the dollar to keep falling and pay back their loans in ever cheaper dollars, but the dollar went the other way. So, now their loans are unpayable. Their currencies are blowing up, and you are seeing gold and silver rise in local currency terms. In other words, precious metals are protecting the citizens of those countries against financial mismanagement.”
Rubino warns, “The crisis eventually works its way all the way to the middle, which is what happened after the housing bubble burst in 2007. It was just sub-prime mortgagees to begin with, which was not really a big deal, but eventually it became a near death experience for the entire global banking system. Since that time, instead of getting our financial houses in order around the world, we basically kept on borrowing money. Now, we have almost twice as much debt globally as we had in that debt driven global financial crisis. So, you can expect the next one . . . to be bigger, scarier and more dangerous. There are a lot of reasons to believe we are getting close, and one of those reasons is the emerging markets are starting to blow up.”
Rubino also points out, “The “Crack-Up Boom” is the point at which everybody figures out it is the explicit policy of their government to make their currency worth less year after year after year, and they don’t want to hold the currency anymore. So, as soon as they get paid, they turn that money into real stuff. You see the price of real things spike because everybody is buying real stuff at whatever price they have to pay. That manifests as accelerating inflation, but it is really a loss of faith in the currency. I think that is the end game of this system. The central banks are bailing out so many different players with so much new currency that people figure out that is a bad deal for the holders of that currency. They start front-running the process, and the system breaks down. This could be the time that it happens because the amount of debt that would have to be bailed out by the central banks is immense. It was much bigger than the bailouts . . . in 2008, and that was multi-trillions of dollars. . . . The numbers could be so immense this time people might see it for what it is. People will figure it out, and that is the systematic destruction of these fiat currencies, and then all hell breaks loose.”
According to Rubino, the long predicted so-called “debt reset” is getting much closer. How’s that going to work? Rubino explains, “It’s not clear that a currency reset (devaluation) will work unless it is coordinated. It’s not just the U.S. It could also be the European Central Bank, Bank of Japan and The Peoples Bank of China all making the announcement about their currency at the same time. If that happened, it would be really disruptive for a short time, but we would come out of it in reasonably good shape. That’s what we should be hoping for because there is no pain free option when you borrow too much money.”
Join Greg Hunter as he goes One-on-One with John Rubino, founder of DollarCollapse.com.
(This post is about gold and silver as protection from government mismanagement, a financial crisis bigger than 2008, and the coming financial reset.)
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After the Interview:
There is a lot of free information on DollarCollapse.com and John Rubino is a prolific writer. If you want to get a copy of his book called “The Money Bubble” click here.
I will soon be 70 years old. I have invested large amounts of money in junior miner stocks.I’ve lost big time.And now I hear Rubino predicting the same bullish gold and silver comments.I have tired of his ilk. By the time the metals come back I’ll be either broke or dead. The gold bulls have really hurt a lot of people.
If you keep predicting the same thing for many years, sooner or later you’ll be right.I bet if you interview Rubino next year he’ll still be making these same predictions. In the meantime a lot of precious metal investors will have been destroyed.
Venezuela is a poor example. Everything in the country has gone through the roof. Noy just silver and gold. It’s just hyperinlation.
I meant Greg. My apologies.
Dear Charles, I know exactly what you mean – just today they are destroying silver to new levels. And clowns like me (and many more I am sure) are left holding even less in our hand than before. Guests keep coming and talking about coming hard times for the USD – but it has done the exact opposite. Literally, no one has been right if they are bullish on the metals. And Greg, your site is one I have been on for years now and I am a fan (as you probably know). But even you have to admit that these fear mongering folks and their gold / silver predictions have been utterly wrong and led a lot of folks astray. Sure, they will be right at some point in time, but it has not been for the past decade. I think as the good, truthful and good person that you are, this is something to highlight in the interviews and let people know as well. I say this so that others also don’t buy into this doomsday scenario that I have read and heard about for years now … the only thing that has gotten hurt is my silver and gold holdings. If only I had just bought the SPY ETF instead like any normal person…
That said, thank you for all the great interviews, the information and hard work. Always a big fan.
JD, Martin Armstrong has been dead on with his forecasts and hs appeared on this site as a guest several times.
“oil is good right now, before it is eliminated by solar panels”… ahahahaha, I had to stop right there 21:00 minutes in. Let me state for the record that oil, will NEVER be eliminated by solar panels or any other “green” energy. EVERYTHING you touch was made possible because of oil. Tires are made with oil, fabrics, fertilizers, untold numbers of chemicals needed for everyday life. Solar panels only work when the sun in shinning. There is currently and likely NEVER WILL be any way to store that volume of energy in batteries to power homes/businesses at night. John might be really smart about currencies, but he doesn’t understand petroleum and it’s impact on the global economy. Without it we would all be living in the stone ages… Chip
You are correct that oil has many diverse uses. Plastic is another. However, once electric cars become dominant how will oil fare? Storage remains a problem for solar but batteries storage for solar is a nascent technology and developments in efficiency might surprise you. I am sure people said mobile phones would never take off because they are two big to carry around (as in the 1980s). Now they have developed to the extent that they have become mini computers and TVs. Concentrated solar technology is able to convert solar power to thermal energy which can be stored. However, it is more expensive than regular PV solar panels.
Power required to run a cell phone is minuscule compared to the power required for an air conditioner, water heater, or electric range. California was having brown outs due to the recent heat wave. What happens when ALL cars are electric and all of them are plugged in for recharge at the same time? The problems are MUCH bigger than you’re attempting to pass off. It’s called math. Most people can’t do it but the numbers don’t lie… Chip
Ironically, you just came up with the answer to excess solar power. Electric cars can drain off some of it and store it. Of course solar is not the complete answer. Add it to the mix.
You could use hemp instead of oil
Junior miner stocks are very risky buy & hold investments. Even major miners like ABX and GG have gone down about 30%, NEM is at break even at this juncture.
I’m sorry that you’d invested large amounts in miners stocks. However, it’s not fair to blame Grey for your choice of investment in the junior miners as I don’t recall Grey ever recommended junior miners to anyone. I concur that Grey should have emphasized that gold is not an investment but an insurance more often.
Btw, I think this is the right time to start averaging down on physical metals. I don’t like paying 10% premium for silver and platinum but I’m buying just because I have never seen prices this low for platinum – I bought a lot more paper platinum PPLT than physical.
Physical platinum is for fun, silver for barter and gold is real money in the post Monopoly world. Miners stocks, PPLT, PSLV, GLD, energy stocks, tech stocks …… are derivatives of money in the fiat Monopoly world we live in. Come to think of it, I don’t think you understand Grey’s message since both of your feet are still standing in the Monopoly realm.
TFH – Per platinum for fun … I would recommend Palladium instead – it has the same catalyst properties as Pt but it is 15 times more rare vs. Pt … 1/15 the amount comes out of the earth for each gram of Pt. In addition, there are certain reactions that only Pd can do …. and it works for certain electrical contacts that no other metal can.
Venezuela is the perfect example along with many other countries to follow suit including America, when? I don’t really care because my Life Style Insurance doesn’t affect how I live or think today, it sounds like you invested by borrowing money out of greed hoping for a large win fall……….. if so Charles, that’s where you went wrong.
You are a know it all idiot.I did not borrow . Where did you come up with that manure.Don’t you ever call me greedy. You know nothing about me.
I listened to Eric King and Mike Belkin. 2 charlatins. Especially Eric.
I did not blame Greg. But I would like Greg to admit a lot of investors have lost a ton of money the last few years listening to how great gold and silver are.
A 70 year old child blaming someone else for there misfortunes.
Like you blaming Trump. You really are an idiot.
International miners would have done wonders for your portfolio….. especially now with the USD strength. Perhaps 2016 would have been the opportune time for that (easy in hindsight I know … but I did it 😉 ).
With the paper shenanigans in the Gold Futures…one would expect that the intention is to flush the miners. The breaking point would be for (paper price of AU) to fall below AISC … that would be the death knell for a lot of miners.
I get the impression that the futures market is not about to be broken notwithstanding the rhetoric ….who is standing for delivery? Look at the players in the COT (Rubino refers to).
My mindset hasn’t changed though. Many cracks in the financial system will have compounding effects. Risk is off the charts…. and yet VIX is far removed from reality. Precious metals are be suppressed for many reasons.
Stand your ground if you have the fortitude.
The miners will become the new Bankers of the future (assuming they can survive this downturn) with a license to print money (GOLD)…in the new monetary system.
Can you imagine the worth of the junior miners in that scenario ?
They want all investors to surrender their holdings because it will be all about controlling the resources …in this case …..the production of money.
This episode of DXY strength will not last. America is headed for a FED induced Recession. I expect market turmoil in the 2H 2018. Hard to believe but I also expect Gold to be around $1400 /oz before year’s end. I don’t mind going on record for that prediction.
Just buying shares in miners is also folly. How much debt does the miner have ? Do they have enough resources in the ground to justify the present share price ? How efficiently is the company run ? Do they have other speculative mines sapping the value of the productive ones? Are they propping up share prices through share buy backs ? Hang in there Charles, this debt created ponzy scam is about to fail in spectacular fashion.We have never had a property, share market and bond market simultaneous collapse in our history. It is about to happen.
Charles … it is not just “hyperinflation limited to Venezuela” … Turkey. Argentina, South Africa, Colombia, India, Mexico, Brazil, Chile (and a very long list of other prominent nations) are seeing their currencies crashing … if order is not restored to the currency markets … we are going to see an international debt crisis of unprecedented size and scope
… keep your eye on the foreign exchange markets over the next few days … if emerging market currencies keep crashing … events are going to begin to escalate very, very rapidly requiring emergency printing of massive amounts of fiat by world banksters … this will be highly inflationary as the banksters can’t afford to allow deflation and all their bonds being defaulted upon … which as Rubino says “will be good for gold and silver”!!
What is also interesting is that the bitcoin price has gone down amidst all the emerging market turmoil. I would have predicted the opposite.
I meant Greg. My apologies.
Speculative investments are usually the first ones to take the bullet.
EM’s will follow with gusto.
Cryptos are also manipulated by those who create money from nothing. Cryptos are a minute market and easily controlled .
TSI … 99% of crypto’s are worthless … https://www.marketwatch.com/story/the-cryptocurrency-market-has-shed-more-than-600-billion-from-its-peak-what-exactly-happened-2018-08-14
Ironically, the name of the saint giving the papal prophecy was St. Malachy of Ireland in the 12th century. Pope Francis may be Peter the Roman: the last pope.
This webpage is interesting. There are testimonials of people’s property being protected from disasters by having crucifixes on their outside doors:
Thanks Mr Hunter and Mr Rubino.
A lot of pain ahead for those of us outside the US Dollar according to Mr Martin Armstrong.
The idiocy of the European and British elites know no bounds.
The Earth’s Treasures
1Surely there is a mine for silver, And a place for gold which they refine.
2Iron is taken out of the earth, And copper is molten out of the stone.
3Man’setteth an end to darkness, And searcheth out, to the furthest bound, The stones of obscurity and of thick darkness.
4He breaketh open a shaft away from where men sojourn; They are forgotten of the foot; They hang afar from men, they swing to and fro.
5As for the earth, out of it cometh bread; And underneath it is turned up as it were by fire.
6The stones thereof are the place of sapphires, And it hath dust of gold.
7That path no bird of prey knoweth, Neither hath the falcon’s eye seen it:
8The proud beasts have not trodden it, Nor hath the fierce lion passed thereby.
9He putteth forth his hand upon the flinty rock; He overturneth the mountains by the roots.
10He cutteth out channels among the rocks; And his eye seeth every precious thing.
11He bindeth the streams that they trickle not; And the thing that is hid bringeth he forth to light.
Wisdom an Excellent Gift of God
12But where shall wisdom be found? And where is the place of understanding?
13Man knoweth not the price thereof; Neither is it found in the land of the living.
14The deep saith, It is not in me; And the sea saith, It is not with me.
15It cannot be gotten for gold, Neither shall silver be weighed for the price thereof.
16It cannot be valued with the gold of Ophir, With the precious onyx, or the sapphire.
17Gold and glass cannot equal it, Neither shall it be exchanged for jewels of fine gold.
18No mention shall be made of coral or of crystal: Yea, the price of wisdom is above rubies.
19The topaz of Ethiopia shall not equal it, Neither shall it be valued with pure gold.
20Whence then cometh wisdom? And where is the place of understanding?
21Seeing it is hid from the eyes of all living, And kept close from the birds of the heavens.
22Destruction and Death say, We have heard a rumor thereof with our ears.
23God understandeth the way thereof, And he knoweth the place thereof.
24For he looketh to the ends of the earth, And seeth under the whole heaven;
25To make a weight for the wind: Yea, he meteth out the waters by measure.
26When he made a decree for the rain, And a way for the lightning of the thunder;
27Then did he see it, and declare it; He established it, yea, and searched it out.
28And unto man he said, Behold, the fear of the Lord, that is wisdom; And to depart from evil is understanding.
American Standard Version
Compare the many modern day translations of Job 28, very fascinating!
Ecclesiastes 7:12 ►
For wisdom is a defense, and money is a defense: but the excellency of knowledge is, that wisdom gives life to them that have it.
Money is a protection and real money today is Gold & Silver. But wisdom can save your life, when even real money fails. Get both @ USAWatchdog.com!
But beware, as Greg says. Above all seek wisdom and love, a spiritual combination that will not fail in the end.
Wisdom is inflation proof.
“A wise man’s heart inclines him to the right,
but a fool’s heart to the left.”
– Proverbs 10:2
Darcy … “wisdom gives life to them that have it” … years ago the builders of the pyramids had much wisdom … they knew the worth of gold to levitate heavy stones (or their “Ark of the Covenant”) … by simply placing a sheet of gold on a glass plate, and another sheet of gold, and glass plate, etc., etc. and attaching a high voltage charge to this “gold capacitor” … we can not only use gold to levitate heavy stones to build pyramids but use gold to build “flying saucers” that easily float off the ground … and yet the elites want us to believe that the gold God created for humanity “is just a worthless relic that has no intrinsic value” … but those with a little knowledge (like us gold and silver bugs) are not so easily fooled … we know how useful silver is to “extract electricity” from sunlight … and we also know how useful gold is “to levitate” heavy objects!!
Those experimenters among us may want to try building such a device … the Ark of the Covenant (which was a self charging device) was “replicated to some extent” as shown in the video below … but did not use the “required gold” as it would have cost a few million dollars … but think about how much weight in gold had to be carried by a few Egyptian slaves or Israelis back then … unless there was a levitation effect (Hutchinson effect) to make this “lightening weapon” less heavy … the Arc of the Covenant was sort of like a giant “Taser Gun” that could be aimed to bring down the Walls of Jericho!! … https://www.youtube.com/watch?v=dl6oTV5w4ZE
Excellent perspective. Re-enforces some of my assumptions and explains them better than I can explain them to myself.
Borrow yourself into oblivion.
Of all the silly things I’ve seen here, the worst was a lender giving a 17 year old $11,000 limit on a credit card. I never knew working part time at McDonalds paid so much and yes, they did get into financial hardship.
One of my nephews just bought a brand new BMW. He had no idea or care what the full price is. He knows what the monthly payment is and he can cover it – as long as he has a job.
Mr Rubino is one of the most lucid thinkers when it comes to ‘explaining’ why hard assets matter. Thank you! His co-author of ‘The Money Bubble’ is James Turk who recently helped found Goldmoney Inc. If it is undesirable for savers to hold precious metals in physical form Goldmoney Inc offers an ideal alternative. For GM Inc allows us to buy literal amounts of gold in any quantity while transferring those amounts back onto a MasterCard into whatever amounts of the currency required. For those in the U.S. or Europe impatient to see gold increasing in dollar/pound/euro terms gold’s suppressed price remains advantageous for savers, leaving part of me wanting the long suppressed price of bullion to continue!
Re: ‘real stuff’. Should emergency food be a higher priority than gold and silver? I dare you to ask your spouse.
Roger D., yes, food, clothes, gasoline, medical supplies, clean water, enough for at least 6 months; don’t let anyone know you have the supplies, dedicate a bedroom or other type place. Also, pay cash for the goods, as the credit card may be looked at and the authorities could determine you have stocks which easily could be declared illegal during a crisis; good luck.
Sure, but precious metals survive longer than food, are easier to carry relative to value and are easier to hide – diversify as all assets have pros and cons.
Plus they use gold and silver in game of thrones, which is cool.
Ya I did they don’t say anything just look at you,you know that look.
I continue to document the evidence that China is and has been laying the groundwork for a new global reserve currency to replace the dollar. Here is more proof.
I’m wagering that President Trump knows a global currency reset that involves going back to the gold standard is coming, and he is more than willing to let the central bankers fall on the economic sword to help facilitate it.
I’ve said it a thousand times. “ Follow The Money”. That’s what I did by following Hank Paulsen and Timothy Geithner and they led me straight to “ The Working Group” which is nothing more than a Yuan funneling mechanism right into U.S. banks. Ask yourself , why would two former treasury secretary’s be involved with an organization like this? They know what’s coming. Once again the table is tilted. The game is rigged. Do you want to know where the 25 trillion dollars in missing funds went? It’s already been transferred internally right into a Chinese bank to be used during the reset. It’s not hard to figure out. Follow the money.
Greg this reset is much bigger than the Exchange Stabilation Fund and the IMF can handle. It will be global in nature and involve every nation on this planet. In my research I believe that’s the transition has been occurring internally inside the global banking system since
2008. Hank Paulsen met with the Chinese behind closed doors when he was Treasury Secretary. I can’t imagine them loaning us close to 3 trillion dollars without some kind of consessions. A deal was made and we were the collateral. Follow the money.
If anyone needs a refresher course, here’s your link.
Apparently the central banks backup plan is beginning to come undone. We are inching toward either a global currency reset or a total currency collapse.
With silver getting mega hammered I’m leaning toward the idea that a currency collapse will fold into a reset. How it comes out is anyone’s guess.
Take a deep breath before you open this link.
Greg Please get Max Igan on your program the time is here to find solutions to these problems. The time window is closing for the 99 percenters. Watching you 3 times a week. Thanks NJViking
Jerry: I’ll wager you 485k that there will be no reset for the rest of your life. I dare you to accept my offer!
That’s a stupid bet. What makes you think you could possibly pay me anything after you’ve lost everything? You’ll just be another victim of people who were suckered in by bad economic advice and fake news. That’s what you are pal. A sucker.
It is a stupid bet because the outcome is only certain after your death so neither you nor Stan can receive any money.
Sorry, just realised if the reset occurs before your death you win, so only Stan cannot pick up his winnings – go for it!
How’s that stock purchase working out with DB?
Wow! It’s up to almost 11.00 woo hoo!
I`ll take that bet , But the problem with that is , lying loser trolls like you will never pay up.
Why 485K and not 500K?
I had a very strong demonic attack this night after putting up that link about the crucifix protecting homes. I made the evil forces very angry. Ha! If you want to get some sleep at night instead of battling demons, put a Bible beside your pillow.
Greg, the Pennsylvania case shows that Paedophilia has historically been going on, on an industrial scale in the Catholic church as well as the Muslim grooming gangs in UK. Perhaps it is a problem with all religions. This was covered up by the Catholic hierarchy.
You’ve got that right TSI No religion is free from these monsters
Just as with the Muslim grooming gangs in the UK, the Catholic abuse in Pennsylvania is on such a large scale that the Catholic communities must have conspired to cover it up along with local authorities. The Catholic and Muslim communities must take a hard look at themselves and the members of their communities that they are protecting.
So will all those screaming about a Muslim crusade against white girls be equally condemning of the Catholic Church’s abuse of its own children?
Actually it is not Pedophilia, but Ephebophilia.
Exactly right, ever since Mohammed married his bride, who was six yrs old.
I wonder if he cut her clit off.
I have read the book “The Money Bubble” three times since it was published… it’s fantastic. Rubino & Turk explain the entire situation and way to protect in a very straight-forward way; recommend the book highly.
Also, James Turk started a business called “goldmoney.com” and it allows you to deposit your dollars and buy gold & silver, link it to a debit card in several currencies. The main point is that you store all of your wealth in metals and use the debit card to make dollar purchases as you need it. I use it as a savings account and I also recommend it for those that already have physical in their possession but want their metal to be a bit more liquid and stored in a brinks vault in US/Canada/Switzerland/Singapore/etc, instead. You can also take delivery – and I have done so as a test.
Hilarious. He was wrong 10 years ago and he’s wrong now. As long as US is the dominant currency, they will continue to do as they please. His observations are interesting but ultimately incorrect:
1) The people in America generally aren’t concerned about the status of other countries currencies, only the Dollar
2) There is no remotely realistic senario where the politicians/elite willing give up power for a stable currency. The only solution they would consider is one where they give up next to none of their power
3) The only real game changer would be either the U.S. is no longer able to create $$$ out of thin air or the dollar gets supplanted as the world’s reserve currency
Greg, you do a great service for us and I thank you. Most of your guest are great, insightful and informative. I’m not saying this gentlemen isn’t, but he’s peddling total theory/fantasy. Thanks again for all you do
“As long as US is the dominant currency”.
Ha, ha, you beat me to it.
Back That A$$et Up …
Greg I absolutely agree with you there are definitely enemies of the dollar. The real question is will any of them be ready in our lifetime to challenge the Dollar’s supremacy. To me it’s been like a poker game where metals investors are playing against the house (elites/fed) who unfortunately at this moment have an unlimited supply of chips. I sincerely hope I am wrong, but at this moment I don’t see how. Once again thank you Greg for all you do and hopefully your fight for the truth will be properly recognized when/if this whole scam is finally exposed.
1) if the dollar gets supplanted by another global fiat currency, precious metals will still hold their value and theoretically you could exchange them for the new currency. Better than holding a dying currency. 2) it doesn’t matter what Americans think about the US dollar when half of them are held outside America. Foreigners have the option of using their own currency. Don’t over-estimate the attraction of using the dollar. If it were so wonderful why does the American military need to intervene to inforce dollar hegemony?
So to add to your third point, another game changer for the dollar would be the loss of US military dominance.
Is this for real? 1934 blueprint.
Yep. He is worth a few bob, so it will be interesting to see if he follows his own advice.
So many entities de-dollarizing, I don’t see the US as necessarily having any input as to how other countries intend to devalue on relatively
Within this scenario, one could almost a false flag.
Not as though the US government could severely cut its budget. Not in a million years.
Watching a fantasy video from Dave Janda yesterday, in which his sources have influenced his thinking to the extent that this reset will be relatively short and painless. His thinking is the radical transition will be about two to three months, and I’m paraphrasing. He went on to say things will be better but purchase gold and silver anyway.
So much for sources.
At least Greg Mannarino preaches simultaneously preparing for a personal extinction and cutting the federal budget.
Whew! Fortunately, I’m not consulted to provide the initial steps to bring the patient back to health. People are going to die, whichever “cure” if offered.
Gold and silver only protect you if you have it,all others pay cash! Why not use real gold for money Valaurm .com.
Interesting story from the same website as the crucifix:
Home spared in Hiroshima, Japan . . .
There is connection between atomic explosion in Hiroshima, Japan and the events in Fatima, because one group of Jesuits (most notably, Fr. Schiffer) survived this explosion and they lived right in the middle of Hiroshima where the explosion occurred. They prayed the Rosary daily, as requested by Our Lady of Fatima. Scientists were not able to find an answer on this but theologians did: “They lived the Message of Fatima”.
Conveniently gold and silver are now on sale. At least in the USA where the paper dollar is “up” against the other paper currencies. However all paper currencies are guaranteed to go to zero sooner or later. The smart money is exchanging paper assets for real money, i.e. gold and silver.
Excellent interview, gentlemen. Mr. Rubino, I think you are spot on about the likeliest scenario. And, thank you for re-posting so many of my articles in the past, sir.
Mr. Rubino is right in a few of his thoughts on a reset, but he is not taking in consideration many of the bubbles and scenarios that we are currently facing. The first area of concern is the $1.5 quadrillion of worhtless derivatives that the bankers have used to prop up the system thru the Exchange Stabilization Fund that will implode when the dollar rises to its pinnacle then fallls like a rock! This will implode all major banks who are exposed, which are all of the central banks and their legs down.
As the derivative market implodes the Fed will hyper-inflate to try to stop the devaluation of the dollar, but it wont work this time around. Half the world is joining China and Russia on a new gold backed system. so the dollar will no longer be the reserve currency.
A devaluation like John has said will happen. But, he like other economists don’t take in consideration of a devalued dollar, and hyper-inflation taking a toll on retail buying. The US consumer will barely make ends meet to buy hyper-inflated essential goods to survive, such as food and gas, which will be at substantially higher prices. No one will be able to buy or get those goods to survive let alone buy cars and houses to keep these two major industries afloat. You will have much higher unemployment, which is at around 21% right now, due to those industires essentially being eliminated out of the US. Those two industries are the backbone of the US economy. They will all but be eliminated!!!
Mr. Rubino also neglets to mention what the US will do about it’s over $600 billion trade deficit. As Jim Willie says, it would take about 6-8 of our petroleum reserves to sell off to even make a dent in the trade deficit. With a devalued dollar, imported goods will explode in price, and most of US made goods will be exported. Not a great economic picture.
Mr. Rubino like others think with a reset everything will come back online within a few short years. I got news for you, the United States will not be back on a firm economic ground for maybe 10-20 years if ever. And I’m afraid that without a distribution network in place there will be no food deliveries to grocery stores, or gas to the pumps. Chaos will ensue, and many will die of lack of food and water, disease, and chaos from gangs trying to survive.
Once the dollar blows it will be the end of society as we know it. There will be no way to stop it. Egon von Grayerz says gold and silver will be the only way to preserve your wealth, and he is correct. But being self sustaing with enough food and clean water and shelter will be most important, then having gold and silver and a way to protect it and your family.
Marc I agree with you If and when the SHTF in the US it won’t be pretty Probably wouldn’t be pretty anywhere but especially in the spoiled and entitled US which is already very divided even in good times
Thanks Greg, very timely topic for an interview considering what we’ve seen with Venezuela, and now Turkey on the brink of defaulting. Excellent advice by both John Rubino and yourself regarding PM’s. Being debt free and owning real stuff is the best position to take. This is what the beginning of a systemic collapse looks like. Maybe TPTB can stop it again, but then maybe not. Film at eleven.
Great work Greg. Rubino was easy to follow and explained his views well. He makes a good case of a currency devaluation, since the elite will have the control and can trigger it when they want. A coordinated devaluation makes sense under that scheme. Why would the elite wait and lose their ability to control how and when the debt is handled? I know nothing other than God is in control, and will intervene at some point according to His plan.
Excellent show Greg!! I think everyone should have a [email protected]@k at this: “MARKETS: CRITICAL UPDATES- What You Need To Know NOW.” Click here: https://www.youtube.com/watch?v=GCo0hfSg6NI
The white man has nothing to be ashamed of!
Stefan made a lot of good points. However, if you read The New Rulers of the World by John Pilger, it is apparent that the genocide and suppression of Aboriginal culture has been downplayed significantly. It is easy to blame indigenous peoples for not fitting in to an alien culture enforced upon them, when the newcomers have superior weaponry, are overtly aggressive, if not murderous and basically just want the land. Even if it is true that they have just been given loads of money by the government (according to Pilger, more money is invested in predominantly white neighbourhoods in Australia) the concept of money may not be in the psyche of many indigenous peoples. What they know/used to know about is living sustainably and in harmony with the environment, knowledge not appreciated by western society. Although the government have committed a lot of crime it seems the colonialists acted even more ruthlessly when in far away countries and beyond the rule of law in London. Sadly, many of these colonialists saw the indigenous peoples as little more than animals and dealt with them as such. If Aborigines must accept criticism of their culture, colonialists and their descendents must accept all of the horrors perpetrated in the quest for land with honesty. That is not to equate colonialism with being soley a white enterprise, as the Japanese, Israelis, Ottomans etc have acted with great barbarity too.
TSI your observation “Sadly, many of these colonialists saw the indigenous peoples as little more than animals and dealt with them as such.” Please, maybe a double PLEASE … Per world history this is and has been the hard, hard rule … and almost every single time, without exception, through out all human history! You can replace colonialist with almost every single culture that has ever existed … Romans, Astecs, Zulu, Huns, Gengis Khan, Egyptians, Muslims, Vikings, Germans, Russians, Chinese dynasties, Khmer rouge, Stalin, etc, etc, etc,. The white European colonialists were on the whole a lot less barbaric! The USA was the first major country in world history to stop this madness when they defeated the Japanese and Germans. They quickly gave the countries back, helped rebuild them and basically said do not do this crap again! Russia colonized all of eastern Europe after WWII. DO NOT single out the descendants of the European colonist … all human kind needs to accept all of the horrors perpetrated in the quest for land with honesty! This is for all races and all cultures … every single person has blood on their hands from their fore fathers, except for maybe the Eskimos! I am tired of this pile on ‘whitey crap!
If you listened to the link you would have heard that Stefan was defending his criticisms of aboriginal people. I merely said that the treatment of those people has been under reported intentionally so, so if we are to be honest about the failings of the aboriginal people we have to be fully honest about what colonialists did to those people. How does talking about Genghis Khan or Stalin relate to Aboriginal people in Australia??? Please think before being triggered.
Thanks as always Greg.
More valuable than gold or silver.
Baptism in the Holy Spirit.
Revival is now. Outpouring of the Holy Spirit.
Romans 1:16 King James Version (KJV)
16 For I am not ashamed of the gospel of Christ: for it is the power of God unto salvation to every one that believeth; to the Jew first, and also to the Greek.
Vermont voters, please elect Christine Hallquist for governor for real change we can believe in. We can do it ! One state and one election at a time !
You gotta admit Greg, IT would be a real change.
Geez, how far have we fallen…
She has a very poor chance, last I heard Vermonters were not stupid. Trump!
I have to go with Greg on this Gina PLEASE don’t
Gina….This will be the ‘change’ we can believe in….THE STORM…is in progress…and Yes- Feinstein asked the right question and got a good answer! LOL Unprecedented resignations abound ?
RESIGNATIONS DASHBOARD: https://www.resignation.info/dashboard
Here’s my favorite video !
Bet you think you are one hell of a good looking transvestite Gina … for you to come out of the closet to share this video with us (and the NSA) … you know of course you have now given the NSA six ways from Sunday to use this video against you and bring this evidence to the Fisa Court as proof you believe in “free love” (like the colluding commie you are) … which soon should put Meuller on your ass … but you will probably enjoy that!!
Now everyone knows what agenda you are really pushing!
Gina…you are a fake.
You’re a Fake liberal on this blog….and on some other blog that is liberal, you are a Fake conservative.
What you really are is an attention seeking behavior freak.
Gina – amazing, and I never thought I would say this, but something we kind of agree on. In college, a whole bunch of us liked going to see the Rocky Horror Picture Show at midnight… it was good fun.
…. But as an adult, I recognize that it is only a movie i.e entertainment!
Hello there Greg,
I was given a free book signed by James Turk, at Jersey, one of the largest of the five British Channel Islands, about an hour by ship from the Normandy coast line ! Yes France, I have enjoyed this interview with John Rubino with you Greg, well done.
Greg, can you get on your USWatchdog, the author of Planet Ponzi, Mitch Feierstein, he is one of the best minds on this Global Currency containgian!
Robert P Bailey. PS Hi Greg, please try to read his book “ Planet Ponzi”, a great book
John Rubino…good comments…you’ll be interested in this new development
Prepare to average down on the metals. The technicals are TERRIBLE!
I remember in the 2001 crash we had Venezuelans moving in to South Florida and they were basically laughing at us because of the .com crash. Then Greece and Europe laughed at us during the 2008 interrupted crash… Who will laugh now? Maybe aliens?
As Rubino says … the world banksters can continue to print and print and print more and more and more fiat money … sort of the way the universe is expanding infinitely … but there are consequences to unlimited money printing … the same way there are consequences in the universe to the accumulation of too much mass at a point … as Einstein said: “When too much mass accumulates at a point … it will warp the entire fabric of the space-time around it … and create a black hole … that will suck in everything around it … to doom …. and from which there will be no escape”!!
And just as there are limits to the amount of mass or money one can create before being sucked into Hell … their are limits to immorality and evil (before it too gets sucked into Hell)!! … https://www.zerohedge.com/news/2018-08-15/trump-revokes-security-clearance-former-cia-director-john-brennan
Peak oil, peak housing, peak manipulation of economic statistics, peak fake news, peak money printing, etc., etc. always results in a “black hole” collapse … now finally … we have reached “Peak Immorality” … and “All The Evil Ones” are going to be sucked into a Hell from which they can never escape!!
Oh Lordy. Another prophet doth hath spoken !
One by one, these “prophets” come and go, always talking, don’t you know ?
Remember not, what they said, lest you want to strangle them dead.
Some day, some way, you will get it right.
Then my son, it will be time, to say good night.
Have Harry Dent on as it looks like his prediction of 700 gold could be correct.
Question Mr Rubinos statement on gold. This morning it was 1198 and dropping
As I type the price is $1175, an even better buy. You buy lowand sell high by first buying low.
There’s an old saying supposedly by “Baron Rothschild, an 18th century British nobleman and member of the Rothschild banking family, is credited with saying that “the time to buy is when there’s blood in the streets.”
Contrarian Investing: Buy When There’s Blood in the Streets https://www.investopedia.com/articles/financial-theory/08/contrarian-investing.asp
Got any idea what has happened with the gold deposit bank the state of Texas was trying to create?
Well, two markets I know of for sure right now which have “blown-up” are precious metals, including gold and Silver ETF’s, physical precious metals ( gold or silver bullion coins ), and gold and silver mining stocks alike. GLD was $127 in August 2014- four years ago today- and GLD clocked-in at a dismal $111.0/share today. That is a minus 12.59% total return. A huge loss. A veritable wipe-out. Buy gold and silver and throw your hard earned money away. Bad luck or bad timing? You decide.
Even venerable Vanguard Funds is totally revamping its former Precious Metals and Mining Fund to be less volatile and more diverse with only 25% invested in actual gold and silver. Its was too focused (pure play) with mostly gold and silver mining stocks and has performed inconsistently and poorly since commodities peaked in 2011, seven years ago. Bet it has suffered huge outflows in recent years. Good reasons for it too.
Gold and Silver are the worst “investments” you can possibly make these days. Real Losers. Time does not fly when your losing (your shirt). Retail investors should look elsewhere and ignore the Gloom and Doomers (charlatans).
A man with hormone-enhanced breasts, dressed like a woman.
What a great Democrat!
And look at the Republicans MCCain, Dick Cheney and the Bush crime family No better
If anyone is wondering what happened to me last night, I woke up and heard this strange breathing close to my left ear then I felt chills even though it was a warm summer night.
I knew it was a demonic attack because this has been happening to me since I was a teenager and I’m middle aged now.
So I went and got my Bible and put it by my pillow. I’ve done this before. I could hear the breathing for about ten minutes then it went away. A little while later I could hear it from my right side. It lasted for about five minutes then went away.
A couple of times during the day I got that strange chill even though it was very warm. I just kept saying a prayer and it went away.
Back when I was a teen the demonic forces were a lot stronger and I was cursed: meaning one misfortune after another came upon me. I almost got run over by a car but I quickly jumped out of the way. I almost got run over by a bus that ran a red light where I was crossing the street but quickly ran out of the way. Other things as well.
If you’re feeling cursed learn about spiritual protection from a good religion.
I forgot to add that I was repeating prayers with the Bible by my pillow until the strange breathing went away and that I kept the Bible by my pillow until I got up in the morning.
This is kind of funny … guess who Brennan is asking for help from “to shine a bright light on the suppression of his First Amendment right to criticize Trump” … the “Fake News Media Moguls” who are currently suppressing the First Amendment right of Alex Jones to criticize the CIA!! … what a laugh … Trump should now “revoke the Security Clearances” of all the rest of the Shadow Gov/Deep State neocons and pedophiles that are deeply embedded in our government … it is time to permanently remove “all” these evil swamp creatures!
IN YOUR HOT LITTLE HANDS
Economist Martin A. Armstrong says on his blog that gold could retest the $1,000 benchmark price. I concur and am patiently waiting for my target to buy a few more Maple Leafs. However, its only a hedge, albeit a real one with no counter party risks and you own it via direct possession.
There is no law that says gold will ever be money again. We don’t know the future for sure. Its not likely to happen in the United States, the King of Fiat. Most Millineals have never held a real gold coin or silver dollar, pre-1965- just debit cards. They were not even born yet. https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/gold-the-changing-fundamentals/
Armstrong is correct in his forecasts, which I follow. He is extremely down on the Candadin dollar, which is why I will buy more Maples. Either way Canada is going in the tank,.
When our American friends take a 30% hit EVENTUALLY, it’s going to get really ugly
With a 1.31 exchange rate our Cando will become toilet paper, it will drop lower.
No more trips to Vegas
Australian Christian miracle house:
New Mexico church with the bronze statue of the Virgin Mary weeping tears of oil. There’s a news video for this somewhere out there.
the REAL CRISIS in my own view is the level of corruption, and DEEP dysfunction, along with criminal economic activities at the state and local level. Illinois is the poster child for this corruption. The state has harmed my business to no end, to the point where it doesn’t make sense to continue. I can’t move out yet without heavily disrupting my family, specifically my teens in school.
Here is one example of how the state has screwed me personally: my wife has been a part time substitute teacher. the state is desperate for teachers but pays any substitute nothing. The state TRS (teacher retirement system) is less than 50% funded. Without any choice to opt out, the state claims on my wife’s W2 that she is in a ‘pension plan.’ Thats a total joke. They said they put aside $123 in one year, specifically 2013. That little paltry sum will NEVER be paid, because she is not tenured, and never will be able to become so, so its fake money we will never see. To add insult to injury, because they check that idiotic ‘pension box’, one of the few years i could set aside money in an IRA contribution, I did the max. Turbotax allowed it. Several years later I get a notice from IRS saying I owed more than $3300 due to that deduction, which they claim is not allowed for either of us, since they believe she has a pension. So not only did I lose the tax benefit and stuck $12000 into an IRA that is now not tax free, I had to pay the IRS this absurd sum of money. That notice occurred in 2015. Today, I just received a similar notice from the state, 5 years after the fact, saying they now want their cut, and I owe them $800 including penalties. All because of the f**ked up TRS system, that is insolvent, and fraudulently claims my wife is getting a ‘pension.’
Folks this system is going to blow sky high one day, and the insolvencies, and disruption to services in nearly every state will be unlike anyone has ever seen. I have no pension, but these people who actually believe they will be getting one, will be more screwed than others, because they will not have saved one dime. I will be leaving the state of illinois long before I retire. As many thousands are doing now. You cannot pick a more corrupt state in the country than Illinois. When the stock market finally does a nose dive, the states that are like Illinois will be stripped naked, and bared for all to see the dysfunction and corruption. I suspect many will die of starvation, and the civil unrest and riots will be worse than you see currently in places like Venezuela. the corrupt democrats are responsible for most of this, as they are OWNED by the states unions, making promises for votes over the past 3 decades, that no one could ever keep. They managed to put in place House rules, to allow the democratic speaker to retain control for more than 30 years now. He also controls their budgets and ALL campaign funding, so if they ever cross him or vote against his agenda, they lose all campaign funding. Needless to say if they wish to last more than 1 term, they never vote no. So the speaker , in cohoots with the unions, has more power than the governor or the entire Illinois legislature. Doesnt matter what citizens vote for. Its all neutered at the state level by the House speaker. Oh, and in the largest districts, the poor and immigrants are virtually bludgeoned into voting democrat, by precinct bullies, that go door to door. Ever wonder how democrats, like mayors get 90% of the vote in Chicago ? Well thats how. Besides all the GOP votes that are destroyed. This is all union controlled here, and democrat controlled. Ever notice how the states in the worst debt, and financial condition, are mostly blue states ?
Erdogan is a bit of a loose cannon. He might suddenly default on all Turkey’s debt obligations or use the threat of default as leverage in negotiations.