The Federal Reserve Lies About Everything–Rob Kirby


Financial writer and former international derivatives broker Rob Kirby thinks the Fed’s recent cut back in money printing or “taper” is a con game.  Kirby says, “The threat of taper made rates go up.  The actual taper has made the 10-year Treasury drop 40 basis points in less than a month.  The notion that the taper had anything to do with interest rates going higher seems to be a non-story.”  The Fed has long claimed it was buying bonds to hold down interest rates, but if that is not true, what was the Fed doing buying all of those so-called toxic mortgage bonds from the big banks?  Kirby says, “My thesis about taper is that the banks in the U.S. had mortgage bonds on their books probably close to the tune of a trillion dollars that they could not sell to anyone.  It was dead money, and they had to write them off somehow.  The problem with writing off close to a trillion dollars’ worth of mortgage bonds that were held in all the U.S. banks is that kind of money is probably more than the total market capitalization of the U.S. banking industry.  So, they had to figure a way to get those mortgage bonds off the books of the banks and silo them somewhere without basically admitting that the U.S. banking system was insolvent.”  Kirby goes on to say, “For the most part, with them now tapering, we can almost say mission accomplished.  They’ve taken these mortgage bonds off the books of the banks, and they are held right now on the balance sheet of the Federal Reserve.” 

According to Kirby, the Fed almost always deceives the public.  Kirby claims, “Everything they tell us is a lie.  These people preach they are about transparency, but everything they do is sleight of hand, misdirection and a shell game.”  One thing the Fed cannot lie about is the size of its balance sheet–now $4 trillion.  Did the Fed swallow a mortgage bond poison pill?  Kirby says, “A lot of people would say, due to the size of the Fed’s balance sheet, there really are questions about their solvency going forward . . . usually, when you see a central bank expand the balance sheet the Federal Reserve has, what manifests out of that is a rapid increase in the money supply . . . typically, you might see something like a hyperinflation or the seeds of hyperinflation . . . that hasn’t happened—yet!   Kirby worries about the toxic mortgage bonds the Fed is now holding.  Kirby says, “That represents potential . . . call it stored up kinetic energy, it is potential for a rapid, rapid, rapid increase in money supply. . . . What it is in its purest form is monetary debasement, and when you have that much monetary debasement, you are going to see nominal prices increase, and it is just a matter of how long that works through the system, but it will occur.” 

What is happening now in the economy is not recovery but “financial war.”  Kirby explains, “What we’re witnessing and experiencing is a war between the keepers of the fiat system . . . and foreigners who have lost confidence in the U.S. dollar and confidence, for the most part, in fiat money.  This is why all the emerging countries, China, Russia and the Asian countries are all buying gold.  Isn’t it interesting, just as physical gold problems have started to manifest themselves with people having problems not being able to get the gold they want, Germany not being able to get their gold back. . . Isn’t it interesting, we have had an emerging market currency crisis rear its head in the last two weeks?  The most adversely affected countries are either buying gold or facilitating trade in gold.  If you want to put an umbrella over what we are talking about, it is economic warfare.” 

Join Greg Hunter as he goes One-on-One with Rob Kirby of  

After the Interview: 

When I asked Rob Kirby if the U.S. can have a strong dollar and suppressed interest rates, Kirby said, “Oh yes, you can.  You just engineer a crisis in emerging market currencies.  This way, you can have your cake and eat it too.”  Kirby says, “Emerging markets are going to be starving for liquidity, and the cost of liquidity might just be gold.”  Of course, Kirby says the current situation “cannot last.”

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  1. 8Ball

    Thanks for getting RK back so soon. He is a refreshing breeze amongst the gaggle of “experts” who refuse to call a spade a spade. Namely, the Federal Reserve System works in opposition to the best interests of the USG and the American people. They have been ripping them off (highly technical economic term) since 1913. The following is just a small example of how it has been done and it continues on til this day…

    Excerpted from Wardner’s “The Planned Destruction of America”, available at Amazon. Wardner wrote it in the early 90’s and it is still relevant today as many people will talk about all of our economic problems but stop short of naming the real cause…

    From the chapter titled, “The Federal Reserve: Manipulating The Economy”
    “To get a vivid perception of how preposterous this whole scam is, let’s take a real example. To fight World War II, we gave the bankers $250 billion in U.S. bonds that we might use our own nation’s credit. In addition, we permitted them to place “credit” in their “reserve” accounts for a matching $250 billion. This gave them nearly $1.3 trillion in bank credit (remember fractional expansion). This credit is to the bankers what your deposits are to you. They can lend it or use it to buy investment obligations (U.S. Bonds, corporation stocks and bonds, etc.). It is cash to them! At the time of World War II, the Federal Reserve system had assets of only $52 billion with no productive know-how or ability to produce goods or services. The United States had nearly $600 millioin in assets and $1 trillion in productive capacity. What happened was, the rich man (U.S.) borrowed from the poor man (Federal Reserve).

    At the end of the war. The bankers were $1,500 Billion richer while the rich man (the U.S.) came out $250 billion in debt to the bankers. Could Congress be so stupid? Is it possible that they have truly given the nation’s wealth and productive capacity (i.e., farms, ranches, industries, businesses) over to a private group of madmen? Yes, your Congress did this. Incredible!

    Let’s take some points one by one:

    1. Neither the meetings nor the minutes of the Fed’s mettings are open to the public.

    2. The members of the board, once approved, face no constitutional checks and balances thereafter.

    3. The Fed controls the entire nation’s money supply.

    4. The Fed at its own discretion can influence both the United States and the world economy.

    5. Insiders at the Fed have advance information regarding major shifts in economic climate. They determine it!

    6. If the Fed contracts the money supply as it did in 1929, 1934-36, 1953, 1955-57, 1960, 1966, and much of the 1970s and late 1980s, the effect on you and me is less money in circulation, thus higher interest rates and fewer loans.

    7. This translates to decreased business activity, unemployment, bankruptcies, and delayed or no economic recovery.

    8. The private Federal Reserve proponents argued in 1913 that the bank was needed to prevent our nation’s boom-and-bust cycle. Yet, if anything, just the opposite has happened.

    9. In 1952 William McChesney Martin, then chairman of the board of governors of the private Fed bank, said, “One of the fundamental purposes of the Federal Reserve Act is to protect the value of the dollar.” Anyone old enough to remember the $1,995 VW knows that it is time to do away with this bank because it has been useless in saving the value (buying power) of the dollar.

    • Greg Hunter

      Thank you for adding your perspective and analysis to this post.

    • Mike

      Thanks again Greg for your commitment to getting this story told.
      My day always includes a visit to USAWatchdog, Kingworldnews and JSMineset.

      There is an old saying.
      Power breeds arrogance, arrogance breeds deceit.
      Those we entrusted to power these last 6 decades decided they had no obligation to tell us the truth. Their deceptive pattern has led us to a situation where we now have a Western World that have lived above it’s means for decades.

      As a grand parent that now leaves me in a situation where instead of enjoying my retirement, I have to use my resources to position myself to be able to help my children and grandchildren in the coming years. The legacy that my generation has left for them is …debt…debt and more debt.

      When the great reset hits us all and it will we know that the 1%’s have positioned themselves to ride the storm.

      It does look like those with no honor and no social conscience had better hide their riches before those they stole it from come searching them out.

      One always needs to remember that with desperation comes desperate acts.

  2. Liquid Motion

    I don’t know how you do it but you keep coming up with these Gems.
    Rob Kirby not only glistens very brightly but he hits it on all fronts .

    I have said for some time now (many times on USAWD) that the Fed and many of the Big Global Banks (if not all) are Insolvent. No question about it, they are treading a very fine line between existence and extinction.
    On the matter of becoming the biggest holder of mortgage securities…since when was the Federal Reserve permitted to operate as a commercial/investment bank ? It has also now become the largest owner of real estate in the country. Being a Landlord and commercial banker were never meant to be the domain of the FED.

    As for the lies and deceit on the “taper” and its erroneous effects….. and the manipulation of interest rates and stock prices ….and the emerging markets’ currency devaluations/volatility..well what can you say other than the “Root Cause of this is the USD”. Look very carefully ….its right there under your very nose. The Strength of the USD is not in the gold that is supposedly held in Fort Knox, nor is it the other chestnut ……the Strength of the US ($16TLN) Economy …..NO….its the fact that the USD is the world’s reserve currency that gives it strength. Its the collective …World’s economy …that keeps the USD alive. As RK delineates…its has become financial warfare….where the only winner can be the USD because of its abundance and domination of use…(for the time being). All this does is expedite the transition to another monetary platform. The Chinese, Russians, Indians, Sth Americans and even the Arab nations have shown their disdain for all matters of transaction/investment/settlement in USD and even the shortcomings of the current USD based monetary system. Swap lines for the collective 5 others, positions the West for the next frontal attack. But the BRICS have too far advanced their plans to undermine the West and circumvent the catastrophe that they had devised.

    It has not been widely mentioned that the loss of control of the fiat monetary system will be without pain. If the FED loses the battle …it will be felt around the Globe. Hence the birth of currency crashes in EM’s then all DM’s, followed by markets and economies, then civil unrest and eventually war on a global scale. No one escapes this. All the while the FED has saved the Banks and the political puppets that refuse to prosecute the unlawful acts.

    What we are witnessing today is very reminiscent of George Orwell’s “1984”. Some 30 years post that dastardly world we find orselves suffering from the hands of the Big Brother. A world that resembles perpetual war zones, omnipresent government surveillance, and a government invented language called “Newspeak”. Newspeak is defined as a controlled language created by the Totalitarean State to limit freedom of thought. This was combined with “Doublethink” which caused contradictory thought patterns (acceptance of lies and truths as the same) or Cognitive dissonance – inability to distinguish between conflict or contradiction. An extension of that term is “Doublespeak'” where language is abused for manipulative purposes. There also exists the “Ministry of Truth” which exists to extol propaganda and historical revisionism (re-writing or falsifying historical public records to support the party line). It all sounds very similar to what was written about in the novel “1984”….or should I say the Novel “1984” resembles very much our controlled world today. We find ourselves at this juncture where is has become difficult to discern the truth. Increasingly we (the dissenters) find oursleves as outcasts for non conforming or not fitting in , as if we were waiting for social disapproval or some other form of disciplinary action. Fortunately we are not in the minority. The Elites are the minority is this respect although they may have masses of support from members (employees) and welfare dependants on their side who understand and are very conversant with and accepting of Newspeak. It will take the other world powers to gain traction and overthrow the evil system that we are all imprisoned by.
    From the Ministry of Truth – concerned with Lies
    to Ministry of Peace – concerned with Wars
    to Ministry of Love – concerned with torture, and the
    Ministry of Plently – concerned with starvation…… we have …….
    “War is Peace, Freedom is Slavery, and Ignorance is Strength “….”1984″….revisited.
    Trust that this may shine a little more light on the topics at hand and add some context.
    To think that that book was published in 1949, keeps me in awe.

    • Greg Hunter

      Love the commentary and analysis. You are correct when you say the big banks ” . . . are treading a very fine line between existence and extinction.”

    • On The Beach

      “There is a dynamism about nineteenth-century Europe that far exceeds anything previously known, “writes historian Norman Davies. He adds: “Europe vibrated with power as never before: with technical power, economic power, cultural power, intercontinental power. “The leaders of “Europe’s triumphant ‘power century’,” says Davies, “were in the first instance Great Britain. . .and in later decades Germany,”
      As the 19th century neared its end, the German Empire was “the king of the North” and Britain stood in the position of “the king of the south” (Daniel 11:14, 15) “As regards these two kings,” said Jehovah’s angel, “their heart will be inclined to doing what is bad, and at one table a lie is what they will keep speaking, “He continued:”But nothing will succeed, because the end is yet for the time appointed.” -Daniel 11:27
      Reflecting on the political climate of the United States and Russia, the French philosopher and historian Alexis de Tocqueville wrote in 1835: “One has freedom as the principle means of action; the other has servitude. Their . . . paths [are] diverse; nevertheless, each seems called by some secret design of Providence one day to hold in its hands the destinies of half the world.”
      During the two world wars, Germany had been the chief enemy of the king of the south – the now Anglo-American World Power – and had occupied the position of the king of the north. After world War II, however, that nation stood divided. West Germany became an ally of the king of the south, and East Germany aligned itself with another powerful entity – the communist bloc of nations headed by the Soviet Union. This bloc, or political entity, stood up as the king of the north, in strong opposition to the Anglo-American alliance. And the rivalry between the two kings became a Cold War that lasted from 1948 to 1989.
      So why am I telling you all this? To give you Watchdogs a little biblical insight on the comments of Rob Kirby at 20:40 on Greg and Robs video. Take your mouse pointer, {cursor}, to 20:40, on the line with the moving little circle at the bottom of the video. You’ll here Rob say, “The Anglo-American banking complex is trying to supply the world with increasing amounts of, promises of gold, or paper gold and these things just don’t gel together and you know when it blows up, is when the emerging market people, who are demanding increasingly more and more physical gold, when their demands cant be met due to finite supply, that’s when this whole thing blows up and you know what? That comes sometime in the near future, could very well be, could be in a matter of weeks , could be a matter of months. . .Greg Hunter. . . the whole system stinks, globally. . .a sad comment. Rob. . .it speaks of and reeks of, a reset and may be forced upon them!”
      On The Beach, – Upon whom? The western block of nations headed by the Anglo-American world power, the king of the south. Forced upon them by whom, the BRICS/emerging market countries headed by the king of the North, the Bear, mother Russia!
      These are just some of the accounts found in the book of Daniel. Do they merit serious consideration? What possible relevance could this age-old book have for our day? Why should we be concerned about events that occurred some 2,600 years ago? Crack it open and find out!

  3. MAL

    Hi Greg,
    I get up early and on Friday you had your weekly wrap up up at 4 am. Now you have this excellent interview with Rob Kirby up at 4:30. When do you sleep?
    With respect to Kirby’s remark about the 10 year treasury dropping 40 basis points I’m curious what the breakdown is on the tapering. You’ve noted on several occasions that it’s something like 40 billion of the previous 85 billion/mon. buying those toxic assets. I wonder if all the reduction is being made in the toxic asset purchases with no change in the bond buying.

  4. allen ols

    baaaahhhaaaa, THROW HIM OFF THE BALCONEY!!!!!!!!!! loved it!!

    Jim Willie answers your question,”will the currency be debased and tell our debtors you will have to accept payment in debased bucks”. He says and beleives, “the currency will be divided into two currencies, republic, or s**t bucks, and then overseas, a non debased currency.”

    THE HAT TRICK HEADLINER–remeber, there are 4 or 5 long paragraphs elaborating on a headliner, of which I wont paste. tks




    al ols fopusawd

  5. William Betts

    A bloody revolution is going to happen in the US. There are going to a lot of heads to roll in Washington. I’m too old to see the end of this thing. The Federal Reserve System has destroyed the American economy and Citizens United destroyed the legislature in America by buying them by big business. FDR avoided a revolution in the 1930’s by making a Social Contract with all the people. We are all in this together. We will help each other. We will share in the fruits of the largess of American resources. Today Capital has won and Labor and the middle class have lost the battle. We will have slavery and the filthy rich, or, we will have revolution. Karl Marx had this situation figured out in Das Capital…… Betts

    • art barnes

      Don’t count on the American people standing up, its not in their nature any longer. Too many dependent perpetual people, its not the 30’s any more. No, I believe the American people are just so many herd cows now, not very many bulls in the pasture. I trust you know I do appreciate your opinion, but its an opinion based on people who don’t exist any longer or are too old (like me & you) to stand up and knock some heads.

  6. Oracle 911

    Hi Greg
    Great interview. I just want make comment about this:
    When I asked Rob Kirby if the U.S. can have a strong dollar and suppressed interest rates, Kirby said, “Oh yes, you can. You just engineer a crisis in emerging market currencies. This way, you can have your cake and eat it too.” Kirby says, “Emerging markets are going to be starving for liquidity, and the cost of liquidity might just be gold.” Of course, Kirby says the current situation “cannot last.”

    I agree with the last sentence, with the previous statements nor so much. reason:
    -gold is going from west to east at record rate: -and everyone want the phys. gold so a month and nothing left in west vaults;
    – the coming “dept ceiling debate” in 7th of February.
    So i think after the winter Olympics in Sochi (in a month or so, maybe sooner) the BRICS may came out and make an announcement in which basically may say “shovel up your US dollar where the sun doesn’t shine”.

    By the way can I request an interview with Jim Rogers, Max Keiser and Marc Faber.

    Your thoughts.

  7. art barnes

    Greg, the dollar has been debasing ever since I found out that one could buy a soda or a toy with it. Not to recognize the “Late Great Dollar” is going the way of the buffalo on the American prairie is to have an IQ of of a neanderthal, which by the way have been higher than the average American who still thinks the next election will solve all the problems. The party is getting ready to end, its late, their drunk, tired, bar talk bored, & the morning is dawning, it was fun but all things come to an end; basically, the party is over and the hang over will be intense. But enough already of doom & gloom so I’ll end with a positive note, the dollar will continue to have a place in our lives on walls for wall paper.

  8. smaulgld

    Rob Kirby is spot on. In 2008 George Bush claimed the reason for TARP was to get the toxic Mortgage back securities off the banks balance sheets because it was clogging up the banking system.
    Here is George Bush explaining the rationale

    This was the $787 billion “one time” program.

    But as I have been pointing out all along- QE is merely an ongoing extension of this one time program that I call “bailonomics”.

    • smaulgld

      Another important point- Congress had to go through a lot of arm twisting in order to pass the $787 billion TARP bailout program.

      After that it has been smooth sailing as the Fed has just on its own printed up $trillions$ and given it to their too big too fail bank shareholders without ANY congressional approval needed- all under the guise of “helping the economy and to create jobs” under their dual mandate.

  9. Mitch Bupp

    When it comes to Turkey….

    RK is right about war….. but it is more than economic…..

    not all of us are asleep Greg…… Thank You Mr. Kirby

  10. Jerry

    What an interview. I feel guilty for not paying for information like this. Rob Kirby presents an undeniable case, for the direct cause of the economic collapse that is coming.
    If there is no Gold or precious metals to backstop the fiat printing of money, what DO you have? Property ? It makes me wonder what concessions were made with the Chinese, in order for them to buy over 2 Trillion dollars of our debt, knowing that we did not have Gold reserves to back up our promises. While I don’t lend myself to conspiracy theories , the recent Banker suicides does make you wonder. Especially when you read historical events like this.

    I think Rob Kirby is correct. When you get to the bottom of the mystery, you will find that the deaths are linked in some form to Gold acquisition , or the failure to deliver on contracts. I believe the pressure is beginning to mount on the Banking system, and it is just a matter of weeks before that proverbial needle is found that will pop the Bond bubble. And when it does, we will most likely find that , the needle was made in China.

    This was a goody Greg. I plan to listen to the interview a couple more times, for nuggets ( no pun intended) of truth. Thanks again Greg.

    • Ugly

      Speaking of nuggets. Can a person purchase gold in its dust or nugget form? If so, where? I just don’t quite trust the one-ounce coin yet as it could be mixed with palladium for formation as is done in some jewelry. No one can or would mix $250 palladium with $20 silver. But a person would mix some $250 palladium with $1400 gold so it can mix and form better. Maybe just my paranoia, I don’t know….

      • Greg Hunter

        At this point U.S. minted coins are the way to go. I also like Canadian gold and silver coins. That is the safest and most tradable coins in this hemisphere.

      • lastmanstanding

        Ugly…just look for a reputable coin shop in your area…must be several. If not Silver Doctors bullion has very good prices and shipping is very cheap right now.

        I buy at a local coin shop. The owner and I have become friends. He is very knowledgeable, treats his customers well and has a lot of them from all over the world. My LCS is a bit more, but I am a supporter of my local community. I also like the fact that I always walk out the door with my metal…don’t be afraid of purchasing coins.

  11. Jerry

    Greg I know sometimes you feel like Neo in the Matrix when you try to talk to people about what’s coming. I totally get that. This is how I feel.

  12. Rodster

    “Deutsche Bank: “We’ve Created A Global Debt Monster”

    “We’ve created a global debt monster that’s now so big and so crucial to the workings of the financial system and economy that defaults have been increasingly minimised by uber aggressive policy responses. It’s arguably too late to change course now without huge consequences.”

    Two observations on the latest thoughts by Jim Reid (DB’s best strategist by orders of magnitude):

    1- He is far more concerned by what is going on in China than any of the other noise around the world. And rightfully so. As we first showed a few months ago, the money creation in China puts what all the other global central banks do to shame. Any slowdown in this credit creation and the wheels have no choice but to fall off, which also explains why even the tiniest default in this $9 trillion economy will be bailed out as it would risk an outright “flow” collapse.

  13. lastmanstanding

    Kirby said it…how many others have said it. When the Chinese don’t get there gold they will send bonds, UST’s, whatever you want to call it back and…

    You must have what it takes to survive when it happens. Do what you have to do for now and plan a day that all that will matter is surviving that day…then the next and for a while after that…and when that day comes, forget about paying for your home, forget about paying taxes, forget about the bankers, etc.

    Survival will be the only thing that matters and survival depends on a few things.

    Shelter, food, water and protection of it from evil…know your family, know who your friends are, know your community. Look outside at nature and get real vision.

    That is “how the planet works.”

    • Jerry

      I totally agree. When a computer gets overloaded it crashes. To get back up. you have to reboot the system. That’s where we are now. We find ourselves in a system that is overloaded with debt, with nowhere else to go but down. Only this time, what matters is not knowledge of technology , but basic principles of survival. How to grow food , purify water, generate heat etc. Smart phones will not help you.

    • Ugly

      The only way to survive the coming future is to have debt down and have more disposable income so that you can invest and purchase wisely. If you are in debt and living check-to-check, then your ability to buy PMs, food, and other stuff, is at zero. 2013 was the last of the easy years, 2014 will be harder, and 2015 may be nearly impossible including the ones not in debt. Thus, folks, get going….If you have not figured it out by now, it is We that are bailing out the rich. Thus they will get more, while we get less. Soon, we are their slaves….

      • lastmanstanding

        Right on Jerry. Only your real world experience will help in survival.

        I have more real world outdoor experience than 99% of Americans…I constantly reevaluate my plans and am open to any new ideas. I run thru scenarios in my mind, body and on the ground. I am always vigilant to watch how nature handles everything. I pray that I will be able to get our kids and grandkids to the other side.

        Nothing is off the table for survival…there are NO guarantees of survival no matter how much money that you have.

        That goes for every single person on this planet.

        I repeat…”that is how the planet works.”

        “don’t go down without one helluva fight”

      • lastmanstanding

        I don’t sweat debt Ugly and we don’t live paycheck to paycheck.

        When I woke up in 2009, I realized that I could pay off debt or get freakin ready. So I’m doing both…I’m not going to worry about debt and not get what I need to keep my family alive. I have always come out on top and believe that I will this time as well…if not, I got exactly what I deserved and that will be fine with me.

        If they break people like you, I and the rest here…it will be slavery and hell on earth for the rest. We are all that is left of this great country.

        We do not relate to giving up, we do not no failure, only hard lessons to a better outcome.

        I’ll just don the full armor of God and stand next to him in the upcoming battle for our souls…join me friend.

        • Ugly

          My debt is down, thus I do have some comfort in that I don’t have to panic buy. But you are right, if I smell confiscation in near future ahead then ol Ugly will run up a debt faster than the Federal Reserve. You can steal real assets, but it is hard to steal extreme liabilities. If their plan is to steal, then they can steal all my debt and liabilities as they want. But for now, I am going to stay as debt free as possible. You are right, we are the last of the few Americans that can see what the bad future lies ahead.

      • allen ols


        go to “the liberty mill” and scroll down to bottom right of all the sites; ‘it is where i found usawd’ and listen to short podcast of Fernando ‘ferfal’ aguirre, from argentina. Describes argentina collapse of 2001, and stuff. al ols fopusawd

      • art barnes

        That is their fall back position; they stay rich and we stay poor and or being their slaves, clever as it seems the elite may have failed to understand the LAW OF UNINTENDED CIRCUMSTANCES. I enjoy reading your comments, insightful.

        • Ugly

          art and ols.
          Thanks for input. The rich are probably doing fine in that they made millions on inflated stocks and probably purchased real assets with those profits in stuff like farmland, investment groups, gold, offshore land, and other currencies. The rich that did not see this coming will get hit very hard. The person coming through like a rose will be the hillbillies that lived off the land all their lives. We just need to pray that our paranoia is unjustified and that better days are ahead….

  14. Asif Mayet

    Thanks again Greg.

  15. Galaxy 500

    Kirby’s analysis is compelling. Most everyone reading your site understands the Fed is fibbing about what it’s doing, just like the gov’t is lying on their numbers.
    Our leaders are so out of touch with reality, is it any wonder they pass laws without reading them? Look at part of the Farm Bill whizzing it way through congress.
    “The bill prohibits oil companies from passing the fee on to consumers, but taxpayer advocates said that’s a sham and that the money has to come from consumers.

    “To say they can’t pass on the cost, are they supposed to take it out of their kid’s college fund?” said Diane Katz, research fellow in regulatory policy at the Heritage Foundation. “It’s kind of silly because of course the costs are going to get passed on. Money is fungible. There’s no way it’s not going to get passed on to the consumer.”

    • Greg Hunter

      Thank you for your comment.

    • Jerry

      There in not enough money in the entire U.S. to satisfy the debt we owe. What else can the Fed do but lie? The American people don’t want to hear the truth. They wouldn’t believe it anyway. The answer. Keep printing money. Keep raising the debt ceiling. And above all else keep lying. The last thing they told the passengers on the Titanic was ” don’t worry help is on the way”. It should have been – how well can you tread water?

      • Anne Elliott

        Oh, but don’t you think “help” WILL be on the way if this nation collapses??? It will just be in the form of NATO or UN peacekeepers asking for our guns and sending us to re-education— er, I mean, FEMA shelters… It’s for our own safety, really…

        • Galaxy 500

          When we go, do you think the rest of the world will be unscathed? There won’t be any UN ( we pay for the majority of it) or anyone else to send. Unless you plan to hand your guns over to those nice Chinese communists.

        • Jerry

          That’s where the problem lies. There are still to many (at least where I live) that will not give up their freedom willingly. Many are Veterans and local law enforcement. Out side of Urban area’s the Constitution still is relevant.

          • Anne Elliott

            I so hope there are those kinds of people around where I live too, but I don’t know who to talk to or where to go to find out… I am not affiliated with any Veterans group, unfortunately.

      • Galaxy 500

        I hate to say this but we can print all we want. We could pay off all our debt tomorrow…and we would pay a big price for doing it. But it would be better doing it sooner than later, the longer we go, the more pain

      • Liquid Motion

        220TLN dollar debt. Hmmm…with 2.5TLN in tax revenue (give or take a few Bln) …that’s about 100 years of ZERO spending by the Government.
        Debt is INFLATED away or its T-BOMBS away….BUST….aka.. DEFAULT.

  16. Larry W. Bryant

    == Who Knew? ==

    The Federal Reserve system continues to serve as a monument to the U. S. government’s propensity for engaging in contractual relationships sans adequate oversight.
    — Larry W. Bryant (3 Feb 14)

  17. Galaxy 500

    Is this not madness?
    But hey, we are giving these bozos money to finish their nuke. Go ‘bama, Go ‘bama

  18. Dale

    First, I want to say thanks Greg for what I find to be the most informative website on the Internet concerning critical financial issues affecting US citizens.
    Most of the guests on your program tell a reasonably unified story. One person however has presented information which seems to be incompatible with all of the others. That person is Karen Hudes and her claim that 170 thousand metric tons of gold are being stored in Hawaii and will be distributed worldwide. She also contends that US tax revenues go to London then to the Jesuits. This seems like crazy talk to me but I realize that Karen Hudes is very sharp intellectually. These are very critical issues that need resolution. I do not question her honesty or integrity. It would seem that either someone has deliberately misled her or we all need to reassess our position on the gold issue.
    Can you make inquiries with future guests to help resolve these issues?

    • Greg Hunter

      I feel the same way but she is a former World Bank attorney (Senior counsel) and she has connections. I am going to bring her back and ask her about all this gold. One thing is for sure, the world knows how crooked our government and banks have gotten and they are not happy. When dealing with trade and capital you simply must have the rule of law of the system cannot and will not function. I’ll have Ms. Hudes on in a few weeks.

      • Galaxy 500

        Not buying the taxes going to Jesuits or 170,000 tons gold for obvious reasons. The first and foremost is reality

        • mohammad

          Unless Alchemy!

          • Galaxy 500

            You got me on that one

    • lastmanstanding

      I agree with you as well. Hudes also has supported sotero in previous interviews…I believe that one of them has here.

      Catherine Austin-Fitts is also questionable. My reason for this statement is her 3.0 interview here last week. She stood by Mike Ruppert before and while he was enduring and writing, “Crossing the Rubicon”. If you haven’t read it, it is deep in 9/11 and Peak Oil…if she believes in peak oil as she stated…”there ain’t no chance of 3.0″

      IMO, if she has changed her mind, she is one of them…maybe Hudes also.

      Her 3.0 has “no chance” the earth will reject it.

    • Liquid Motion

      She is not the only one who thinks the money flows to the Vatican.
      I posted a link to a couple of videos a while back…you may want to tune in, to garner some data.
      and this one is really good value …he clarifies a number of issues with damning evidence and blows the lid on the corruption that is rife.
      One of those videos mentions money being funnelled off to the Vatican.

  19. WD Deni

    Greg, here is report of looting and violence because police wlaked off job, inflation eating up their pay.

    I really think this is whatwe can expect!


  20. Reducing Expenditures

    What does Kirby mean by , ““Emerging markets are going to be starving for liquidity, and the cost of liquidity might just be gold.” ? Does that mean that the emerging markets will be in credit, and therefore would need to sell their gold?

    • Greg Hunter

      Reducing Expenditures,
      The short answer is yes but that is a big maybe.

  21. brian

    What I am coming to conclude after these past few years watching this spectacle unfold is that the central bankers can paper over the forces causing economic slowing but they cannot, with their paper, affect the force of nature running its course and causing the slowing, whatever efforts they make to do this they do so at the expense of the integrity of their paper, and if they try to do this long enough they will eventually forfeit the position their paper has allowed for them to have. We also know that these people are not stupid and that they MUST see this in some way. So I guess the real question is what is it they have besides their paper to ensure that they maintain the position they have grown accustomed to and worked so hard to attain?

    More importantly, how far are these people willing to go in order to avoid answering for what they have done thus far?

  22. John M.

    Greg, thanks again for providing another timely and pertinent interview. That’s why many of us check our favorite site first thing in the morning and last thing at night.
    I agree with Mr. Kirby and have always thought so, that the end will come when China doesn’t get any more gold (which must be coming soon). To think that gold is really central to the economic universe, which the MSM constantly denigrates and nearly every American does not have. Oh, I will bet you that the big banks and well-connected players in the game have been secretly acquiring physical gold while the rest of humanity has been suckered into buying Super Bowl tickets, satellite TV, and smart phones. That’s if they still have the jobs, government assistance, or the paper money to buy these distractions and escapes from reality while they still can.
    It’s often said that “Success breeds the seeds of its own destruction”. I think it will be hubris and delusions of invincibility that will bring the downfall of the Fed and their partners-in-crime at the big banks. Their “corruptions, frauds, and deceits” cannot last forever, as God and the natural laws of economics will not permit it. The toxic debt (mostly mortgage) has not gone away, and like energy it merely has changed forms and is sitting at the Fed. This is always a recipe for hyperinflation, and soon even our Treasuries will be toxic and Americans will be forced to buy them in their retirement accounts.
    The Chinese and the Russians have been given the keys to the new world order, which means that our leaders either greatly miscalculated, or did this on purpose. I think that most of this had started in earnest with Pres. Clinton, but it has been lurking and operating in the shadows (like shadow banking) much before that. It just keeps getting worse with each successive new crop of presidential puppets. Sure, China may have serious demographic, economic and money printing problems as well, but they have been acquiring the real gold and encouraging their citizens to do so too. Much of that gold came from America in backroom concessions that we will never know. Of course some of these whistleblowers may be “jumping” or being pushed from buildings before they can find asylum.

    • Greg Hunter

      John M,
      We will reap what we have sown and not even the Fed money printing can stop it. In fact the Fed has made the problem far worse.

  23. mohammad


    You have asked a very good question that your guest was not able to answer and that is the SOLVENCY of the federal reserve as a private bank after being loaded with all the toxic papers from the mortgage scam THEY started when Greenspan created the subprime bubble.
    And my answer is:
    Why would anyone in the world think that this private bank wants to be solvent?
    They are probably now joking among themselves popping champaign after all the money and wealth they made with their clienteles while remembering what Ron Paul was saying about abolishing the feds and laughing:

    • mohammad


      Please think of each bubble as SELLING AN ASSET CLASS in US.
      Tech bubble: Selling our industry.
      Subprime bubble: Selling our real estate (houses, farms…..etc!)
      Bond Bubble: Selling our future.
      Until nothing more to sell, then civil war.

      • Ugly

        After the Bond-Bubble, I don’t think there will be anymore bubbles. It will be just Double Troubles. The $Trillions in bond losses will cause more panic and friction like none other. Then the rich and elite will take out their anger and blame on the poor guy. What we have will be considered theirs….

        • mohammad

          The ultimate bubble is gold bubble. Do not forget this one and it will come when you hear your kids in school talking about gold mine stocks instead of Miley Cyrus!

          • ugly

            I don’t mind the Miley Cyrus cause my folks had to hear my Rolling Stones, Led Zepplin, Alice Cooper, and ACDC. Poor mom and dad….

          • mohammad

            I hear you!

  24. Galaxy 500

    Dow off 325+ so Fed cuts sugar, Dow heads down 3rd 300 point drop this year
    NASDQ Off 106+
    10% is a correction. NIkkei is already down 10%
    Question : Will Obama let Stocks fall? How long can Fed pour the coal to it before the boiler explodes

  25. Galaxy 500

    You mentioned something about CA not being very bright. I conceded that point to you. If the great United States is counting on CA college students to save it, it might want to have a solid Plan B.
    Dice has now successfully managed to persuade Americans in his area to agree to repeal the First, Second, Third, Fourth , Fifth, Sixth and Seventh Amendments, as well as the entire Bill Of Rights.

    • allen ols


      yeah, ha i saw that; I get involved in many heated debates on the face book with some real uninformed, ie stupid college grade intellectuals that have absolutly no clue. thanks to sites like this and comentators like your self, i have a lot of info tks. al ols

      • Galaxy 500

        They are long on theory and short on experience. In theory, there is no practice.

  26. John S

    Another good interview Greg. I just hope some of the readers to our local paper read tonight’s newspaper which carries your website and Jim Willies Golden Jackass for some proper information instead of the crap pumped out by the television media in both the US and UK. I keep hearing many Americans are not awake to what is really going on but that also happens in the UK, and sometimes even when you reach some of these people they still don’t get it. What we need is a Greg Hunter UK News source over here so well done Greg for the work you do.

    • tROT

      Good on ya, mate!

  27. Hugo

    Hi Greg,

    Ver interesting interview indeed. Thanx for it. On the part where you and Rob talk about what to choose reserve currency wise (the catch 22) I like to add this 24 sec clip of Alan Greenspan (chairman of the Fed before mr Bernanke) stating the following;

    ”This is not an issue of credit rating. The USA can pay any debt it has because we can always print money to do that. SO THERE IS O PROBABLITY OF DEFAULT. ” (sorry for the caps)

    This after the US credit rating was downgraded back in 2011.

    Longer version
    and there are longer versions around (smile)

    Janet and the Maestro, as mr Greenspan was called, going to join up in the (near) future maybe ? The both seem to like the printing press.

    • Greg Hunter

      Thank you Hugo for the comment and the link!

  28. Jerry

    Greg as I write this 4:20 p.m. Monday the Stock Market has lost 326.05 points. A lot of people are saying its a normal market correction. I don’t think so. I think it has direct linkage to the Fed taper talk from Janet Yellen. What say you?

    • Greg Hunter

      If they continue to taper or they bring it back it still says the same thing this time the party really will be over.

  29. WD Deni

    Russell Investments Chief Economist Found dead…another one Greg, FYI

    • Jerry

      That’s unbelievable ! Either someone wants these Bankers dead, or they know something terrible is about to happen. Don’t think for a minute that they couldn’t have died as a result of a hit. Suicide is one of the best tools of a good fixer.

  30. Scarlett

    Hello Greg.

    This is a wonderful guest with a great brain. This guy makes this site, a premier site for information that pertains to our financial situation. Kirby makes financial markets understandable even to a sewer guy. This was one of your best interviews to date. Keep up the great work.


    • Greg Hunter

      Thank you Scarlett for your kindly worded comment!!

  31. Galaxy 500

    Great, more good news about the Obamacare website.

  32. allen ols

    from Richard Russell;

    I’d be lying if I said that I wasn’t worried about the way things are going. Frankly, I’m truly scared for myself, my family and the nation. I have the sinking feeling that the stock market is on the edge of a crash. If that happens, investor sentiment will turn quickly bearish. And the bear market will start feeding on itself. Ironically, the recent action occurred in the face of almost insane bullishness on the part of the crowd and on the part of investors.

    Obviously smart heads and institutional money managers know that the US is semi dead in the water. And all the talk about an improving economy is just wishes and hopes. Bernanke’s dream of a flourishing new economy, improving without the need of the Fed’s help, is an idle dream.

    I’ve been writing about the stock market for over 60 years and I can’t remember a time when I was so filled with foreboding regarding what lies ahead. The primary trend of the market, like the tide of the ocean, is irresistible, and waits for no man. What scares me the most in this current situation is that I see no clear island of safety.

    Al ols fopusawd

  33. allen ols


    and here is a recent shtf quote;

    Grady Means is a former advisor to Vice President Nelson Rockefeller, a former economist at the U.S. Department of Health, Education and Welfare, and has managed multi-billion dollar firms over his career. Back in October of 2012 Means penned a commentary and analysis for the Washington Times in which he noted that “America’s fall will take global economies with it.”

    But he didn’t stop there. Means gave us a target date.

    There is a very large probability that the real end of the world will occur around March 4, 2014.

    The doomsday clock will ring then because the U.S. economy may fully crash around that date, which will, in turn, bring down all world economies and all hope of any recovery for the foreseeable future — certainly over the course of most of our lifetimes. Interest rates will skyrocket, businesses will fail, unemployment will go to record levels, material and food shortages will be rampant, and there could be major social unrest.

    Any wishful thinking that America is in a “recovery” and that “things are getting better” is an illusion.

    The central issue is confidence in America, and the world is losing confidence quickly. At a certain point, soon, the United States will reach a level of deficit spending and debt at which the countries of the world will lose faith in America and begin to withdraw their investments. Many leading economists and bankers think another trillion dollars or so may do it. A run on the bank will start suddenly, build quickly and snowball.

    At that point, we will need to finance our own deficit, and we will not be able to do so. We will raise bond rates to re-attract foreign investment, interest rates will go up, and businesses will fail. Unemployment will skyrocket.

    The rest of the world will fully crash along with us.

    • Jerry

      Thanks for posting that article . I think the timing is just about right. Its uncanny how accurate Grady Means was. So what’s keeping the system going? How about the illusion that it still works. The trouble is ,recently the curtain has been pulled back by the Germans wanting their Gold, that couldn’t be delivered. And now the world knows what we know . Its all a scam. They just haven’t figured out what to do about it yet. But it won’t be long before the IMF does something extraordinary.

      • allen ols

        agreed + John Williams, Jim Willie agree, when the emerging markets, EM finally decide to get out of dollars, ustb, and cash them in, look for hyper inflation, and dollar collapse. Jim says, “he who gets out the fastest, gains the mostest.

        al ols fopusawd

  34. allen ols

    And here is celente from KWN ending.

    Celente: “Of course. The global markets are subject to a complete unraveling. Go back to our September 2008 Trends Journal, when they came up with the grand scheme of the bailouts. Do you know what our headline was? It was, ‘D.C. Heist – Wall Street Hijacks Washington.’ And I said to KWN last year, ‘This is no recovery, it’s a coverup.’ They are covering it up with unprecedented amounts of cheap money being dumped into the system.

    So we now have countries all over the world involved in covering up what will ultimately be the greatest Ponzi scheme collapse ever seen in history because this time it will be global. As this collapse unfolds, there will be nowhere to hide in the banking system, and there will be nowhere to run inside of the global financial Ponzi that exists today. All hell will literally break loose as it collapses and people are running out of time to get prepared.”

  35. Nam Marine

    We can start saving America by killing the Fed ! It has to go!

  36. al hall

    Greg: after each interview I like to read the “people’s’ comments. I have to say- there are a lot of wise people in your audience. This means you attract the best of what’s left of America- the one’s that really care for this country.

    • J.C.Davis

      Al Hall. I agree 100% I cant imagine going a week without usawatchdog comments. While drudge, and Alex Jones is focused on the government’s conspiracy to destroy America. Greg and the thinkers have there finger on the pulse.
      Greg : Don’t change a thing. When your right don’t change. Brother Greg your right as rain on a hot July day.

  37. Geo. T (formerly , George)

    India is a country that understands Gold and Silver are money.
    New Delhi: The government today slashed the import tariff value on gold and silver to $404 per ten grams and $635 per kg, respectively, taking into account the volatility in the global prices
    Import tariff value is the base price at which customs duty is determined to prevent under-invoicing. The tariff value is revised on a fortnightly basis after analysing the global price trend.
    Till Sunday, the tariff value on imported gold was at $407 per ten grams, while on silver it stood at $663 per kg.
    The notification in this regard has been issued by the Central Board of Excise and Customs (CBEC), an official release said today.
    Besides precious metals, the tariff value on imported brass scrap has been cut to $3,959 per tonne from $3,995 per tonne, while those on crude soyabean oil has been reduced to $917 per tonne from $944.
    Similarly, the tariff value on imported RBD palmolein has been reduced to $898 per tonne from $902, while that on imported crude palm oil has been slashed to $857 per tonne from $877.
    In London, gold prices today fell by 0.33 percent to $1,241.80 per ounce, while silver dropped by 0.23 to $19.12 per ounce. Domestic gold and silver prices remained down following weak global price trend.
    Gold is the second largest import item for India after petroleum. However, gold imports are expected to decline this year as government has taken several measures to curb shipments to address the high current account deficit.
    According to the jewellers body, total gold imports may decline to below 500 tonnes this fiscal due to these restrictions, from 845 tonnes in the last fiscal.
    [I think the $ in above article may be in Ruppees]

    • Greg Hunter

      Thank you Geo. T!!

  38. Max

    Greg –
    Thanks for having Rob Kirby on USAWatchdog.

  39. Ugly

    Lets do some easy math. There are about 90 million homes and apartments in the USA. When the bond bubble hits, those will be in ownership of another equity firm–ie the largest bond holders. Lets say that the net equity/debt is $50,000 per unit thus that comes to an interesting $4.5T (90,000,000 x $50,000). To keep peace and to have a non-USA Peace-Keeping force watch over these assets and do home searches on a weekly basis would only require about 5,000,000 UN Peace-Keeping forces that would include a big part of the Chinese Military. As people get filtered down, you would need less home searches for the non-compliers. The UN Peace-Keepers would also have armed guards at all grain and corn silos and shipping points. On banking accounts and mutual funds and 401k and SS, well there goes trillions of subsidies back to the rich in a hurry. Dudes, we played their game. Somehow we need to figure how to survive and not play the game so much….

    • Galaxy 500

      Nice what.If…

  40. Galaxy 500

    With all the real problems in the US this dumb a$$ demoncrat form VA wants to deport Justin Bieber….hahaha the moron is for allowing f’ing illegals to stay but wants to deport Bieber. Do you think he has his priorities in the right place?

  41. Agent P

    Greg –

    The next time you have Kirby on the program, see if you can get him to delve a bit more into the relationship between the Fed, the Treasury and the Exchange Stabilization Fund. He touched on on the subject in the maiden interview, but I think there is more to discover and discuss in subsequent interviews with him.

    This is where the ‘action’ is happening and it would prove valuable to your audience if they had a clear understanding of how these relationships work and what they mean for the markets and the economy as a whole. These (3) entities present the ‘inner-workings’ of the complicated timepiece (with a detonator attached), that is our financial ship of State.

    Thanks kindly –

    • Greg Hunter

      Will do Agent P. Thank you for your guidance!!

  42. Galaxy 500

    All those poor smucks pushing the stock markets have to be aware it’s fixed.

  43. Eric

    Many thanks to both of you for this brilliant interview. I really enjoyed listening to both of you.

    About the banksters dropping out from balconies, it is indeed very tempting to draw a line between the dots… One of the banskter who supposedly committed suicide was working for Deutche Bank and his work involved interest swaps derivative (exactly the same that your guess talked about today). So here we have Bafin saying that the gold market rigging is worse than the libor. Then Deutche Bank quickly leaves its position at the London Gold Price Fix. And now we have 4 banksters committing suicide in a single week!!! Are the whistle blowers cooperating with Bafin being systematically terminated? We will likely never know but we are certainly justified to raise this question.

    Rob Kirby coincides very well with what Craig Roberts is saying about the USA and the Federal Reserve destabilizing EM economies and pushing forward the concept of financial and monetary warfare. If this is true then it brings a question for which I cannot find any logical answer: Why EM nations aren’t counter attacking when there is so little gold left in the Comex? For this month of February, the Comex registered inventory isn’t large enough to cover all the contracts that are standing for delivery. As far as I know this is the first time in history that there could be a default at the Comex. So with a few hundred million dollars, EM nations could bankrupt the Comex and probably the LBMA with it too, providing a lethal blow to the Anglo-American Banking Cartel. So why don’t they do it. That part of the whole picture doesn’t make sense to me. Why don’t they counter attack and sink the Comex?

    Contrarily to Rob, I do not think that it is only about China getting its gold or not. It is also about political instability and the USA trying to topple regimes in: Brazil, Argentina, Russia, Turkey, Ukraine, Venezuela, Ecuador, and Bolivia, just to name a few. So why can’t these nations organize themselves and fight back by taking out the Comex for example? They could bring the Banksters down on their knees with less money than it takes to build a single destroyer. That’s the part of the picture that I do not get.

  44. boosting elo lol

    It’s really very complicated in this busy life
    to listen news on TV, thus I just use the web for that reason, and get the newest information.

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