The Fed Can’t Save Us –John Rubino

By Greg Hunter’s 

Financial writer and book author John Rubino is worried about record debt at every level of the economy. Rubino says, “The next recession is overdue because this is the longest expansion on record. . . . We loaded up car buyers with sub-prime loans. Students now have $1.5 trillion of student debt. Credit card debt is at record levels. Government debt is at record levels. Corporate debt is at record levels. . . . All of these guys have borrowed more money than they ever have in history. So, the idea we are going to convince people to borrow a lot more money by lowering interest rates is at best problematic and at worst insane. We are headed that way because they have no other tools. So, when things slow down, they are going to start cutting again and printing money and buying up assets with that money.  We’ll see if it works again. It shouldn’t have worked the last time. . . . We are in a range of unexplored numbers. . . . How much further can this go? Is there a limit out there? We are going to find out in the next recession.”

Rubino is not impressed with the Federal Reserve’s latest promise to slash interest rates and print money to save a teetering economy. Rubino contends, “The markets ought to be terrified by this, but in the U.S. because the rates are not yet zero, the market is not yet terrified. We are not far from 0%. . . . The Fed can’t save us. We’re at the point now where we would be at a 1930’s style depression or a Weimar Germany hyperinflation or something new and equally bad. We have taken on insane amounts of debt, more than any society in history has ever tried to take on. So, we just don’t know what is going to happen. If the central banks cannot stop the next recession, we will find out what happens when this much debt goes bad. . . . The Fed’s biggest fear is that things will spin out of control, and they won’t have the tools to stop it.”

On gold and silver, Rubino warns, “Pretty much the only way out for central banks is they will have to devalue their currency aggressively to keep the debts from blowing up on us and completely destroying the financial system. That is a great environment for gold. It will become more and more apparent to people going forward. . . . As you add to your position (in gold and silver), the big trend will be positive for you. . . . Debt is continuing to soar . . . and that is continuing and accelerating right now. So, if the big bad trend is accelerating, then the big bad result of that trend is getting closer and closer, but timing is impossible to predict. . . . When this thing really begins to spin out of control, it’s too late to protect yourself. . . .You really hope you don’t end up in a world where gold is $10,000 per ounce because that is a bad world in a lot of ways. If that is no longer just a possibility but a probability, you need to protect yourself in some way. That’s what precious metals do.”

Join Greg Hunter as he goes One-on-One with John Rubino, founder of

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  1. William Stanley

    Mr. Hunter,
    Concerning the economy: It just can’t be said any more lucidly than that!
    Unfortunately, pestilence, hunger, and violence will work synergistically with economic collapse. Indeed, with the current onset of epidemics of vicious tropical diseases worldwide — especially, but not limited to Ebola — I find that factor weighing more heavily on my thinking regarding relocating.

    • uncommon sense

      Pssst! It’s me again. William, I know that you take prepping seriously. As you mentioned tropical diseases above, could take this opportunity to recommend that you think about adding organic coconut oil to your supplies. The lauric acid in coconut oil is known to be antiviral, antibacterial and antifungal. It is relatively cheap and will last many years as it is saturated fat (medium chain, so not detrimental to health) and will not oxidise.
      Also, olive leaf capsules are even more potent and can also be used to kill viruses, unhealthy bacteria and is also antifungal. Better than antibiotics and safer. Go for olive leaf capsules that are standardized for oleuropein content.

      • William Stanley

        uncommon sense,
        It looks like it might be a good idea to start using both of these items immediately as well.

  2. Anthony Australia

    Excellent interview Greg,

    Our reserve bank have cut rates and gold is at an all time high.

  3. JC

    Sorry, hit “post comment” prematurely. Please delete first comment.
    John said the word “limit” a number of times. What happens when we reach “The Outer Limits?” Perhaps we can change the words to Fedspeak?

    “There is nothing wrong with your investments.”
    “Do not attempt to adjust your portfolio.”
    “We control the stock market.”
    “We control the bond market.”

  4. AndrewB

    Hi Greg
    It has become clear to ‘red-pill’ takers that the financial and geo-political world is no longer determined by hard fact but by narrative. TPTB have known this for decades (most probably dating back to the Roman Empire, if not before) and use narrative to control and exploit their subjects (you, me, and 99.99 of the world population).

    If you, and your audience, agree with my supposition- that narrative influences human responses, more so than facts – then we ‘red-pill’ takers should be ever vigilant in how we narrate the facts. 11:20 minutes into your interview with John Rubino he explains how Alan Greenspan (at the time, the Fed president) propped up the “big banks” … “big loans” to Mexico and Russia, et al. My point is not to disagree with Rubino – I agree with his analyses. My point is that ‘we’ should be pedantic with ‘our’ narrative and, when ‘we’ have occasion to mention the Fed, ‘we’ should always add that it is a cartel, created by the big banks – specifically to pursue and protect the interests of the big banks. IMO, ‘we’ need to continually counter TPTB propaganda that the Fed is a benevolent dept of government concerned about employment, the general wellbeing of the population, etc., etc.

    Propaganda relies upon repetition (from multiple sources) until people assimilate the false narrative as unquestioned truth. If ‘we’ (red-pill takers) are to influence those addicted to blue pills (sexual enhances excepted) then in my opinion ‘we’ need to explain and repeat ad nauseam the true nature of the Fed and all its ilk.

    I would respectfully refer your audience to, ‘The Creature From Jekyll Island’ by G. Edward Griffin – the book that originally opened my eyes. Please do not buy this book from the default source on Google – do not feed the beast. Every little action the 99.99% of us can make will have an impact.

    • iwitness02

      Bravo, AndrewB! Very well spoken in both comments, and I totally agree. We need to continually expound on the truth. Verbal truth first. If that doesn’t work, there is kinetic truth. Ultimately, there is Biblical Truth. One way or another there will be justice for the people. Worldwide. We can only wonder at the cost, but positive change is coming to this earth. I believe that with all my heart. I think most everyone here will witness the change.

  5. AndrewB

    Hi Greg

    John Rubino mentions the exhausted sources of good collateral to support loans and predicts the buying of corporate assets (shares) as a possible extension of debt issuance, as has happened in Japan. I hear many pundits talking about this – as though it is a natural progression – without apparent fear. In my opinion, enabling central banks – the banking cartels to whom corrupt governments have handed the exclusive right to issue currency – to purchase the world’s natural resources and the means of production (the corporations which own those resources) with currency that they can create at will, is the road to perdition – the 0.01%’s wet dream of a neo-feudal future. If there is to be a global financial ‘reset’ and the 0.01% own everything of value at its conclusion, how will the 99.99% be better off? Frankly speaking, I am unable to posit a solution. I simply wish people would see the risks inherent in allowing central banks to purchase corporate assets. More alt-media pundits should be talking about this very significant risk to the freedom of the vast majority of mankind.

  6. Jerry

    News for Stan.
    I sure hope you have a plan. Can you say bailins ?

    I just love the new age terminology. Quantative easing – it’s just another way of saying counterfitting. Cut off – it’s another way of saying locked out.

    Do you think Deutsche Bank has FDIC insurance? Stan they’re getting ready to lock the doors. Be smart. Get your money out before this death spiral hits bottom. Past history proves that when banks are in trouble they won’t hesitate to throw you under the bus. In fact Deutsche Bank has even murdered their own bankers to the tune of over thirty people just to protect their corruption. Money laundering. Gold rigging. You name it. This is not a bank. It’s a crime syndicate.

    • Jerry

      Dead men tell no tales.

      My cousin who was a fixer in Chicago always told me that the sign of a good mechanic, who knew his trade, was to make it look like either a suicide or an accident. Gun shooting is all Hollywood. His favorite. A pillow over the head. At 6’-8 350 pounds it was easy for him to just lay on top the intended victim and smother them. The obituary would read “ they died peacefully in their sleep”. He always viewed that as humane, if that’s even possible? To ease his conscience he would donate the bulk of his payment to Shriners hospital. Go figure? Guess what? When they found him dead, they said it was suicide. I guess I’ll never know for sure what really happened. As they, what goes around comes around.

      • paul jr.

        You realize that some of them clearly died by accident or really did commit suicide. The suicide rate is for people who work in the financial services industry is considerably higher than average.

    • Stan

      Jerry: Deutsche Bank has insurance and it is called “Mario Draghi” and he has much deeper pockets than FDIC. Mario will not let DB go down!

      • Greg Hunter

        You are kidding us–right?

        • K.Wayne

          I think Stan is getting confused with the Mario character from the Nintendo Games…..capable of extracting himself from ridiculous situations.

        • Jerry

          Putin states what we already know. The global economy is as fake as money created out of thin air.

        • Stan


          • Greg Hunter

            DB stock down to $6.76. Not fear but fact.

      • Freebrezer

        Stan – you have two titans fighting … Mario Draghi vs. market forces. In the end the market forces are going to win. But yes, Mario can manipulate to extend. The ONLY question is – when is the extend to pretend game going to end? I have a feeling that the TPTB can extend a bit further.

  7. JC

    Today on Martin Armstrong’s website.

    “Gold will be the hedge against political uncertainty and government ONLY when the people reach that critical point of losing faith in government.
    Most millennials use their phones to buy things or credit cards – not cash. The idea of gold as a store of value has faded between generations.”

    • FC

      My 3 millennial children have been taught from the time they could understand to pay for everything with cash so they can feel and understand the amount they are handing over and they are all grateful of this lost art of exchange as they now question whether a purchase is really necessary.

    • Anthony Australia

      Gold has quadrupled in the last 10 -15 years, millennials or not, it keeps going up. That’s the whole idea, wipe out the system and enslave millennials for an eternity.

    • Anthony Australia

      Only if they allow credit to flow, whether electronic or not, there will be a premium to payback the borrowed funds.

    • paul ...

      JC … Armstrong says: “Gold will be the hedge against political uncertainty and government ONLY when the people reach that critical point of losing faith in government.” … he uses the word ONLY in bold type … but … there is another way (besides losing faith in government) for gold to be driven higher … “the start of a rate cut cycle by the Fed” … the start of rate cuts is usually “very bullish” for precious metals … and if the Fed follows through and we get multiple rate cuts right up to the 2020 election … Gold and Silver should break (more likely explode) higher!!

  8. Montana Guy

    Are there any WatchDogs left who haven’t taken John Rubino’s advice? I doubt it. So what next?

    The rich have bug-outs in place. We have all seen them. What do they know that we don’t? And why do you think none are on US soil? And the Fed has their bug-out. It will be the IMF. The globalist puppets in Washington have theirs. Gee, who is left?

    • Frederick

      This one HAS

  9. JC

    Richard Russell wrote this back in 2010 regarding millennials and gold.
    “Americans have totally forgotten the meaning of gold and silver. I prove it to myself every day. I buy something in a store and present a one ounce gold coin as payment. Invariably, the clerk looks at the coin and replies, “We can’t take that. What is it anyway?” Sad and rather ominous.

  10. Chuck

    I get so tired of people saying that we don’t want to live in a world with gold at $10,000? I don’t recall people eating each other in the streets when gold went from $200 to $1,900. Almost a ten fold increase.

    • Da Yooper

      Exactly Chuck ……I tend to think that people who say that are closet shills for the bankers. They never explain how they know how bad things will be at $10,000 gold. Gold & Silver are like Apple or Facebook at $50 only difference is Apple & Facebook are not being shorted & suppressed by the US Government & it’s bankers. Also I dont particularly like the current world where banks & company’s that should go bankrupt are not allowed to while the taxpayer pays for it all & gets no benefit from the bailout . Just look at how the banks screwed the public on their Credit Card interest after the bailout. Just bend over & grab your ankles Mr & Mrs Taxpayer & say sir may I please have another.

    • paul jr.

      You are right Chuck. Gold could go to $10,000 without the U.S having hyper-inflation or even without having a “Mad Max world” scenario happen.

    • Anthony Australia

      Exactly Chucky

  11. St. Clare Seeds

    I highly recommend John Rubino’s book, “The Money Bubble”. I have a hard time understanding economics and the national debt. His book lays it all out and is easy to understand.

  12. AndrewB

    Hi Greg

    Further thoughts on the central banks buying up corporate assets (shares) in order to extend the debt bubble – and to enable them to ultimately own everything of value . . .

    This is analogous with the early explorers, merchant adventurers, offering brightly coloured glass beads to ‘unsophisticated’ native peoples in return for gold and silver and other assets of REAL value. Anecdotally, the glass beads were held in ‘treasure’ chests and some hapless prisoner / captive was duped to make as to try and steal this ‘treasure’, only to be shot dead during the attempt. Theatre of this variety induced the natives to believe the glass beads to have significant worth. Today, we ‘unsophisticated natives’ (99.99% of world population) are willing to trade all our real wealth for pieces of paper – and, most of the time, not even paper but just an electronic ledger entry. That the ‘elite’ 0.1% have the means to print the paper at will (make the brightly coloured glass beads) means we have become willing participants in our own demise (no more aware of the con than ‘primative’ tribes of the past). Many even welcome central buying of stocks in the belief that this will elevate the value of their pension pots. In my opinion, any such uplifted pension pots will be of little value when current fiat currencies are revalued at zero and all real wealth has already been transferred to the 0.1%. Sorry to be so negative! My intent is to infuriate. ‘We’ urgently need to see the danger and take whatever action is required before we become powerless (devoid of any assets) to act. I am not smart enough to posit a solution – I simply urge all in the alt-media to loudly ring the alarm bells whenever they talk about corporate asset buying by central banks. This is the road to perdition!

    • FC

      What a great analogy and you’re not being negative you’re being realistic.

  13. paul ...

    John Rubino is worried about record debt at every level of the economy … dark times are ahead …

    • paul ...

      Jim Rickards (the man who helped to create the Frankenstein Derivatives Monster) … knows very well “the Bankster Cabal (in control of the Monster) are like Swamp Creatures who will never give up their power voluntarily” … his recommendation is to avoid and not touch their creations (i.e. fiat paper money, crypto coins, derivatives, etc., etc.) … and simply get into physical gold (and silver) “and kept your precious metals out of their bank vaults” … just as Jim Sinclair and Bill Holter have been recommending “that people Get Out of The System (GOTS)”!!! …

      • paul ...

        Jim Rickards is now predicting “the exact time ” a political and market “Perfect Storm” will hit … he is saying it may actually strike as early as October 2019 … get ready folks (your storm shelter is gold, silver and some cash coins) … Rickards says “every time one of these huge perfect storms hits … it is always preceded by mass complacency or euphoria”!!! …

        • paul ...

          Actually it may not take shootings, poisonings, plane crashes or sewer-cides to tum the Senate against Trump … the Demon-rats have “Seven ways to Sunday” to turn the Senate against Trump … they could simply threaten to kill the family members of recalcitrant Senators!!

          • Greg Hunter

            That is not going to work Paul and would be civil war immediately.

        • FC

          We all know the story of the three little pigs, but there was a fourth little pig who watched USAWATCHDOG and built his home with gold and silver.

      • OutLookingIn

        paul – correction:

        Jim Rickards did not help create derivatives.
        That honor goes specifically to Edward O’Connor. Who’s idea and efforts in 1973, created the Chicago Board Options Exchange. Trading options opened the CME to Wall street securities traders. These financial instruments were soon intermingled and sold as deriving their value from the underlying collateral. Poof! Derivatives.
        Edward O’Connor went on to sell half his business to the Swiss bank UBS and the other to Goldman Sachs, where they remain to this day.

  14. Russ

    Thanks Greg, great interview. I’ve come to really appreciate John Rubino’s calm demeanor and approach to investing — very sound advice.

    I stumbled into dollar cost averaging as a default setting after 2009 and the bailouts. I thought the QE1 bank bail-out was a huge negative and then came the rest of the QE’s and Operation Twist (whatever that was) — all fiat money printing and inflation dressed up for the prom. The FED said they were done with QE but the world’s other central banks (BOJ, ECB, et al) continued to print; members of the Rothschild banking system are tied at the hip. Money printing continued regardless of how the FED Chairman’s lips moved. Wall street soared and those USD denominated items looked great, but were they…

    Over the years I’ve paid my taxes and kept my CC accounts and other bills paid off. I didn’t buy a new car and we eat well (meaning healthy), but otherwise live modestly. What do I have to show for all this? When (not if) this global economy blows up or implodes, I have no debts to call in. The roof over my head is paid for as are the vehicles in the garage. The tide will turn and when it does you want to be on the shore and not dragged under with the rip currents. That’s when I might be able to go shopping for a farm.

  15. Jerry

    Very suspicious.
    EAS just froze the internet and spectrum broadcast network for almost 5 minutes in Missouri . There was no test. No announcement. I was getting ready to pull the power to reset, and then it came back up.

  16. tim ziegler


    The game has changed and the rules/methods by which it has been played in the past will also change; it is a TRAP!
    It will all end abruptly and painfully for those not paying attention.
    Dollar cost averaging at this point is too little and too late!
    It doesn’t matter that no one wishes this, it will still happen.

    • Greg Hunter

      Thank you for weighing in here! I agree by the way.

  17. Rob

    Blockchain, Artificial Intelligence, and the Internet of Things are converging to fully manifest the “beast” system within the next decade:

    Father is raising up this beast to force all the church to prove if we dwell in heavenly places in Christ:

    1 Peter 4:12-19 Beloved, think it not strange concerning the fiery trial among you, which cometh upon you to prove you, as though a strange thing happened unto you: (13) but insomuch as ye are partakers of Christ’s sufferings, rejoice; that at the revelation of his glory also ye may rejoice with exceeding joy. (14) If ye are reproached for the name of Christ, blessed are ye; because the Spirit of glory and the Spirit of God resteth upon you. (15) For let none of you suffer as a murderer, or a thief, o