US is Broke and By Far the Biggest Issue-Eric Sprott
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Renowned money manager Eric Sprott is still very bullish on physical gold and silver. Why? Sprott proclaims, “The U.S. is broke. We know they’re broke. . . . About a thousand professors have signed up and told Congress you’ve got to deal with this issue, and it is immediately ignored, but it is by far the biggest issue. It’s not just government. It’s corporate pension plans, and state pension plans and all these unfunded obligations where everyone thinks they are going to receive something only to find out that they are not going to receive something. . . . The math is pretty simple. The U.S. is broke, and I don’t want to single out the U.S. Lots of countries are broke. I am sure Japan is broke, and I am sure there are European countries that are broke. We can’t keep extending and pretending and suggesting everything is great. Unfortunately, someone is going to pay the price, and I am not sure when the price is going to be paid. The analogy I use is we all knew ten years ago that Detroit was broke. . . . It was so mathematically certain that you knew what was going to happen. The same thing will happen to the United States.”
How has the economy stayed afloat even though the U.S. is broke? Sprott, who manages nearly $7.5 billion in total assets, contends, “I take it back to NASDAQ 2000 when we had our crash, and there really should have been a normal secular bear market. Along comes the government and their ‘cash for clunkers’ and ‘home buyer tax credit’ and HARPS and TALF and too-big-to fail and printing and ZIRP. This was an elongated process of trying to hold it together. All of this was supposed to have a huge impact on the economy, and yet, we have had negligible growth. In the meantime, all the debts have soared. You have student loan debt, and now students can’t afford to buy a home, so they are all living with their families. You have so many people on food stamps, and you have people taking advantage of the disability fund . . . in the latest statement, it goes broke in a year. . . . This is symptomatic of the problems.”
On The Fed’s constant indecision on whether or not to raise interest rates, Sprott says, “You’re getting a rope-a-dope. One minute you think one thing, and the next minute you think the other. I am having a tough time thinking rates are going to go up (in December). One of the things that all central banks are doing is losing credibility, that people really believe that they know what they are doing. We saw what has happened in Japan the last 25 years, and we see what’s happening in Europe which is what’s happening in the United States. Economic growth, if there is growth, is so anemic . . . and I believe it’s getting worse as this year progresses.”
On his physical gold and silver investments, Sprott says, “I don’t lose any sleep over the price of gold going down in the sense that I believe what I believe. I believe it’s been manipulated. It’s very much about currency and economics of the Keynesian scheme that we’re going to spend money, print money and it’s all going to work. It’s not working. I don’t want to wait and find out the day it falls apart because when it falls apart someday, then it will be too late. I want to be positioned beforehand. I can remember shorting stocks before March of 2000. It was a bit of a rough ride for three months, but my gosh, when it rolled over . . . you have to be a little bit early on things. I believe the last four years have been orderly and created to be difficult. I think gold would have gone up, but they could not stand for it to go up because they were printing money. If you are printing money and gold goes up, everybody figures it out. . . . I’ve been around for a while, and I have the patience to hang in there. I have been a buyer of gold stocks, and so I am hopeful this will end up being a very, very rewarding trade.”
Sprott predicts, “There has to be a collapse. It will be way bigger than 2008. We had a debt problem in ‘07 and ‘08 and the debt has exploded.”
Join Greg Hunter as he goes One-on-One with Eric Sprott, the Chairman of Sprott Inc.
(There is much more in the video interview.)
After the Interview:
There is free analysis and information on Sprott.com.
Greg, excellent site. Thanks for your exemplary work.
Greg and all, to affirm Mr. Sprott’s general assertion, total annual net flows to the US financial sector equal the annual output of US GDP.
Moreover, the cumulative imputed compounding interest to total credit market debt outstanding to the average term is at ~100% of GDP in perpetuity.
Put another way, the financial sector (and combined financialized sectors) now has (have) a perpetual annual claim on an equivalent of all profits, wages, and gov’t receipts forever hereafter, precluding any real growth per capita of US value-added output.
This is confirmed by the fact that US real final sales per capita is no higher than in 2007-08.
Thus, it took the Fed printing $3.4 trillion in bank reserves at a discount of 0% (infinite term) and the US gov’t borrowing and spending at a cumulative deficit of $8 trillion just to get back to even in 2007.
But now we are witnessing evidence of emerging cyclical effective business and household demand constraints, as profits after tax are contracting; S&P 500 revenues and earnings are contracting YoY; the acceleration of money velocity is in deep recession-like contraction, as occurred in 2008, 2001, and the early 1980s; the broad equity market and junk bonds are in bear markets; real growth per capita of state and local tax receipts are recessionary; the energy-related states’ leading and coincident indices are signaling recession; banks’ commercial and industrial (C&L) loans’ delinquencies and charge-offs have been increasing YoY; incorporated self-employment (the firms that hire) is contracting at the fastest rate since 2008-09 and 2001; corporate risk spreads are widening as in 2008, 2001, 1987, 1984 (collapse of Continental Illinois bank), and the recessions of the early 1980s and mid-1970s; the housing echo bubble (that was never acknowledged, and never will be) is deflating after peaking in 2012-13 at the same level as in 2004-07; world trade is not growing; and real GDP per capita for 70-75% of the world economy is at or below “stall speed”.
Finally, payroll receipts vs. reported wages and salaries imply that employment is overstated by as much as 1% or more (or alternatively the labor force is 1% or more smaller) and growing well below 1% vs. the reported ~1.7%.
And that’s the short list, leaving out Peak Oil, population overshoot, and “Limits to Growth”, i.e., the “Perfect Storm”.
Given the foregoing simultaneously occurring factors, the Fed has NEVER raised the funds rate and/or constrained bank reserves. That is to say, NEVER.
Thus, rather than raise the funds/reserve rate in Dec, Jan, or Mar, the historical precedent suggests that the Fed will resume QEternity and perhaps implement NIRP as is occurring in parts of the euro zone (EZ).
Note that the Fed, and TBTE banks that own the Fed, are desperate to avoid firms and households from recognizing, internalizing, and acting upon a deflationary mindset (as occurred in Japan after the late 1990s) in which there is an increase in, and persistence of, risk aversion and liquidity preference.
But peak Boomer demographic drag effects, wages and commodities/producer prices, and excessive debt absorbing all growth will continue to exert an increasingly deflationary effect on revenues, profits, investment, wages, consumer spending, CPI, and interest rates hereafter as the Schumpetarian depression and secular stagnation of the debt-deflationary regime of the Long Wave Trough persists for years to come.
Thanks. Greg and all, for indulging the foregoing pedantic exposition.
Superbly synthesized summary. Thank you.
BC, an excellent (if disheartening) reality check. Here’s another: (From a speech in Congress in The Bankruptcy of The United States United States Congressional Record, March 17, 1993 Vol. 33, page H-1303. Speaker-Rep. James Traficant, Jr. (Ohio) addressing the House):
“Prior to 1913, most Americans owned clear, allodial title to property, free and clear of any liens or mortgages until the Federal Reserve Act (1913) “Hypothecated” all property within the federal United States to the Board of Governors of the Federal Reserve – in which the Trustees (stockholders) held legal title. The U.S. citizen (tenant, franchisee) was registered as a “beneficiary” of the trust via his/her birth certificate. In 1933, the federal United States hypothecated all of the present and future properties, assets and labor of their “subjects,” the 14th Amendment U.S. citizen, to the Federal Reserve System.
In return, the Federal Reserve System agreed to extend THE FEDERAL United States CORPORATION [emphasis added] all the credit “money substitute” it needed. Like any other debtor, the federal United States government had to assign collateral and security to their creditors as a condition of the loan. Since the federal United States didn’t have any assets, they assigned the private property of their “economic slaves”, the U.S. citizens as collateral against the unpayable federal debt. They also pledged the unincorporated federal territories, national parks forests, birth certificates, and nonprofit organizations, as collateral against the federal debt. All has already been transferred as payment to the international bankers.
Unwittingly, America has returned to its pre-American Revolution, feudal roots whereby all land is held by a sovereign and the common people had no rights to hold allodial title to property. Once again, We the People are the tenants and sharecroppers renting our own property from a Sovereign in the guise of the Federal Reserve Bank. We the people have exchanged one master for another. .”
US CODE: Title 28,3002. Definitions
(15) “United States” means —
(A) a Federal corporation;
(B) an agency, department, commission, board, or other entity of the United States; or
(C) an instrumentality of the United States.
Greg. I was not aware of Traficant’s personal history. The full text of his address to Congress is at https://www.youtube.com/watch?v=ek_3X2ONCx0 . The Wikipedia article about him is at https://en.wikipedia.org/wiki/James_Traficant . I found the following timing and cause of death “interesting,” as many others who opposed the elites have suffered “heart attacks” too”:
“Traficant began a grassroots campaign in July 2014, “Project Freedom USA”, to, among other things, put people pressure on Congress to get rid of the IRS and “divorce” the Federal Reserve. …Traficant was injured in an accident at his farm on September 23, 2014. A tractor he was driving into a pole barn flipped over and trapped him underneath. …A number of longtime family friends, including Linda Kovachik, a former congressional aide to Traficant, told The Vindicator that it is believed Traficant had a heart attack, causing the tractor accident.…On September 27, 2014, Traficant died at a hospice in Poland, Ohio, aged 73.
Seems to me that was a criminal congress the banksters assembled for their own interests. Surprising, there was no linch-mob on the banksters and the politicians back then for such treason. The correct thing then was to default and jail all the bankers up in Alaska with no clothes, heating, or food. Now the Bankers have a formidable army they will not hesitate to mercilessly let loose on the serfs. And the serfs will not be given clothes, heating, or food.
My parents knew Traficant’s parents. You really have to take with a grain of salt anything he said, i.e. he was just as crooked as the town he grew up in. That being said, if one looks at Cede and DTCC, here: https://en.wikipedia.org/wiki/Cede_and_Company and here: http://ming.tv/flemming2.php/__show_article/_a000010-000923.htm there is a foreboding being foretold on the interwebs that we, the middle class in this country, are being prepared to be sacrificial lambs. But then again, why does the latter link come up so high when one googles cede and dtcc that it is not disinformation too?
Anyway, I recently found this site: http://redefininggod.com/ that warms the cockles of this conspiracy theorist’s heart even though he was spectacularly wrong with his latest prediction. Though you have to admit that cover art of the Jan. 2015 Economist is chillingly Fabian.
PS: Greg, Traficant supposedly tipped his tractor, no foul play: http://www.cleveland.com/metro/index.ssf/2014/09/former_rep_traficant_didnt_have_heart_attack_seizure.html
BC … You say: “Thus, it took the Fed printing $3.4 trillion in bank reserves at a discount of 0% (infinite term) and the US gov’t borrowing and spending at a cumulative deficit of $8 trillion just to get back to even in 2007”.
Does this mean the Fed must print more and the Government spend more?? … or should they hand some money out to the American people the way they hand money out to foreigners?
Giving true COLA increases to the people who pay the taxes and are citizens of this country … rather then to the terrorists of other lands … would be a simple thing to do … why don’t they do it???
thanks Greg as always, but we send him a better mic next time?
Yes Greg: sound is very poor. Canada needs help with quality skype. This one I may have to read. Vietnam war damaged my ears, but this is poor quality.
The coming Collapse, Reset, Depression, Great Recession II will be event worse with compounded loss of PETRO/Reserve Currency status of the US Dollar. China (Jerry knows more then me) is playing the currency trump card that will strike the death blow to this country. MSM has and will continue to lie or just not report what’s really happening with this country, and zero % rates only prolonged (bringing sales forward) the inevitable. They know that when they do raise rates, TSWHTF and that’s why it wont happen under Obamas watch. My .02
johnd … what will really strike a death blow to our country is the Neo-con’s … I’m still amazed that the Neo-cons were able to “test fire” a Trident missile aimed to take it on a trajectory over Russia and mainland China?
The only think I can figure is that they are getting desperate to start a war with Russia and China … and wanted to get a feel for what “the response would be” to their plans for a nuclear first strike option … since both China and Russia seem to be of a mindset to take a nuclear strike before actually retaliating … it seems their risky stunt of firing a Trident over Russia and China and “subjecting the American people to nuclear annihilation” has paid off big time for them … because now they can promote their nuclear first strike agenda to the “gun ho” military brass and the Washington Congressional war hawks … they can play their fancy games … but do you actually believe Russia and China will remain “sitting ducks” if they see numerous missiles headed their way?? … I think not!!
It was very hard to understand all of what he was aying…so thanks for having it printed so we can all follow along. I think the elites have been planning how to suck out all the money, gold, and silver they can before they implode the whole ball o f wax. I didn’t have a clue what happened in 08, but I had pulled my money out and put it into gold and silver. Am still buying when I can. I think the thing that is so sad…is people working to just make ends meet and they are all in the stock market with 401K’s, IRA’s, etc.
I receive a pension from Teacher Retirement here in Arkansas…I try to keep up with how they are investing our monies. I know they own a lot of hard assets; such as land. I just don’t know what it means for me the little person….WTSHTF I am just wondering if maybe I will see even one-third. Can anyone out their who is a whole lot smarter than me explain??? I guess I cannot see the whole picture. There will still be working teachers putting into the system…maybe they will have to start giving more into the system.
Southern Girl: We have been in the beginnings of the Greatest Depression for 7 years now; the criminals have been very inventive to keep the system afloat. For all pensioners, the best case scenario when TSHTF is that your payments (or portion thereof) will be paid in devaluated dollars. There will be a form of martial law, and hyperflation is a given. Any cuts in your pension would depend on how much power your union has; I would guess not as much as those in the deep blue states. Follow the Chicago situation: the coffers are bare, but pensions are still being paid and will be largely on the backs of property owners who are now facing a doubling of property taxes and a decimation in public services. This won’t stop until a revolt or extreme pushback, when the people feel that they have had enough. Stock up on as much food and water as you can and get together with people who can grow food and/or have the land to do so. If you have savings, buy as much silver as you can, preferably 1oz rounds.
Thanks for the reply. I am also wondering if the Arkansas Teacher Retirement is so weighted down with stocks when the stock market crashes will that be when we tank. I know they won land and we still got our COLA this year. One good thing here is that when you are disabled or reach 65 they can no longer raise your real estate taxes unless they are voted in by the people. But they can probably change that law like they change so many of our laws. We use to be a blue dog state…just went red last time. Our union is still strong so I guess I will have to be happy with maybe one-third of my pension.
Andy-Sgirl …. why doesn’t the US government treat each State of the Union like a “foreign country” and provide “foreign aid” to the States where we the taxpayers live … instead of to the citizens of foreign nations who are not American’s and don’t pay any US taxes … why do “they” deserve aid while “we” Americans are made destitute???
You can start by educating yourself about the “NAME GAME”. Then teach what you learn to the children.
Heavy weights such as Sprott, Rick Rule, Mike Maloney, and Martin Armstrong should be speaking out about the NAME GAME FRAUD being perpetrated on us by CORPORATIONS masquerading as GOVERNMENT.
They should be disclosing publically how any man can determine the VALUE of the NAME appearing on ‘their copy’ of the Certificate of Birth. They have this knowledge because they work closely with securities brokers. Your copy of the Certificate of Birth is a securitized tradable instrument. It is considered MONEY to the Title holder!
So we should all be born at home … don’t run to a hospital … don’t apply for a Social Security card … don’t apply for a divers license … ride a bike and work off the books … don’t do or sign anything that makes the government aware of your existence … this is the true price of “freedom”!
All the things you mentioned are a fundamental right of man and should be available to man (male or female) outside of legislation.
Common-law courts where the ‘accused’ is considered innocent until proven guilty must be brought back. Under ‘Public Law’, the accused speaks for himself. In Common Law, there are no coded laws or secret procedures. The jury hears everything and the judge is forbidden to say anything to influence them. The jury passes a unanimous decision without which the ‘accused’ goes free. This is called “Trial by jury”.
Presently, we have the opposite called “jury Trial” where the jurors are tricked to swear an oath to the Judge.
In British Columbia, Canada, you are expected to address the Judge by the term “Your Worship” as if the Judge is GOD!
Southern Girl, if you read Karl Denninger’s book Leverage, which came out about 3-4 years ago, he says that all of these pension funds are going to have to take a serious hit…and he is more than likely correct. Just look at Illinois / Chicago and the fix that they are in with pensions. People were promised the moon based on 8-10% stock market returns ad infinitum, but those returns are gone for decades at the very least, and are probably gone forever. We are consumed with debt, have no manufacturing base with which to dig ourselves out of the hole, and live in a world that has too much of everything already. Time to batten down the hatches.
Thanks for the reply. I will research K. Denninger’s book and see what he says.
WK … All those pension funds have to do is not play Wall Streets game with our pension money but simply buy gold and silver that will protect all the people’s pensions during an economic bust that brings paper assets down … “who” is in charge of investments at these pension funds? … are they getting “kick backs” for investing our money on Wall Street???
One theory I’d heard was about the dollar collapse and US needing to re-invest in other fiat – the Amero – of US, Canada & Mexico. This would be ‘backed’ by inputting Ameros into pension funds at whatever reduced rate is needed to float gov’t. programs. This would last a decade or so, and allow the US to stay afloat.
I’d also heard that though the petro-dollar falls, the US still has the majority of satellites and trans-oceanic cables, for conducting business transactions. Robotics in the US was to resuscitate the economy, tho keeping the labor force minimal. Slow-burn collapse seems more likely, since major crash predictions have been forecast for the last 5 yrs. or so.
Yeah … the elite want to be better cheaters too!
Another voice, crying in the wilderness. But nobody is listening. I was watching a program on PBS..I believe it’s called Cross Fire. Old guy and woman, both been on the program since the Titanic sank….she keeps talking over another guest about the Pipe line would only create 40 JOBS. This is why, America must collapse and clean out our society of all these fools. We have become top heavy with morons. Time for a tune up.
Enjoyed the interview. I’m just waiting for the show to begin.
James … it is a known fact that transporting oil and gas by pipeline is the cheapest alternative … allowing “insider” Buffet to make all the gravy transporting the oil on his railroad is “loony tunesmanship” favoring the rich who don’t need the extra “worthless fiat money” in their pocket!
In the last few weeks, I’ve been reading books by author, James Howard Kunstler. His books depict life in America after the collapse, what he calls the post-modern world. One title was a “A World Made by Hand: “Travel is horseback, medicine is herbal, farming is back at the center of life…illness is a constant presence, bandits roam the countryside preying on the weak.”
He sets up a scenario of DC and LA having been bombed, no more transportation, no more communication, no more electricity, no more healthcare, food being what you can find or grow. After the bombings, an already teetering economy collapses and life is back to the 1800’s.
It is fiction but I could not put his books down. It was an author’s supposition of life without gov’t dependence, without a job, without conveniences — permanently — and how various people dealt with that reality, or could not.
All of his books so far deal with this subject. I did get some pointers out of it and have been busy filling in some personal gaps. One I did not read so far was titled, “The Long Emergency,” a narrative of “violence, religious hysteria, innocence lost.”
I read most of his books some years ago, found them a riveting read, but that world just seemed too crazy to imagine at the time — now it does not read crazy enough. I got these books out of my local library.
So many are telling us that something forever life changing and malevolent is about to hit. All of his books attempted to portray the country after the fall. On the upside, irrelevant politicians, few who survived the bomb blast in DC, no taxes.
Thank you. I think I’ll order several on Amazon.
to Donna DLC
The bad news is you are right…
United States Gross National Product is on a heart-lung machine-
refer to John Williams http://www.shadowstats.com …
Since 2006 the games the bankers and government played kept the patient
breathing, yet the 99 percent got poorer and deeper into debt.
The good news is a bottom has been artificially created.
Here is how they do it :
Governmental printing and spending = 6.5 trillion per year –
70 percent or more of people are on drugs-medical-hospital
(illegal drugs would aggregate to about 4 trillion) they are hooked-addicted
or dying http://www.cdc.gov/nchs/fastats/health-expenditures.htm .
Oil and gas are artificially low so all those E B T card users have cars,
Your comments on the new “gross domestic product” lie
versus “gross national product” welcome.
I saw several large railroads and container shippers
announced 3 to 10 percent
reductions year over year in employees. 5 to 10 percent of trucking
companies went belly-up or personnel reductions,
colloquial terminology is “M & A activities, outsourcing, cost-
BDI and freight volume facts = welcome.
All because the Fed does not know how to play monopoly by handing out cash to the common people who control the economy with their spending … lower peoples income taxes, lower peoples real estate taxes, give the common people a COLA increase that truly reflects the cost of everyday food items and increase interest rates on common peoples bank savings and damn the bankers derivative losses … damn the Wall Street crooks stock market losses … do what is right for main street!
did you notice it may be world-wide…
listen to Dave – x22 on economics
The idea of a “farming, horseback” post-collapse world is dangerously fallacious.
Post-collapse, people will be hungry, confused, cold, afraid, desperate, grieving.
Do you suppose that you’ll take a few packs of seeds out in your back yard, scratch into the ground a little, and reap a huge harvest to feed yourself and your family? Nonsense. Productive farming takes years to develop the ground, with all the right tools/equipment, chemicals/additives.
During the collapse there will be worldwide war, famine and death, with 1/4 of earth’s population dying (Revelation 6).
Post-collapse, the Antichrist will rule and society will follow him blindly into the worst trouble the world has ever known. This will NOT be the time to suddenly take on a new farming career.
The absolute best, number one prep one could have is gold/silver, followed by food, firearms and zero debt.
Fictional stories about a peaceful, agricultural lifestyle post-collapse are just that –
Food is way more important than than gold/silver. Store food first and do have a way to produce it. It doesn’t take years to develop a backyard garden. I’ve gardened every year for the past 26 years and every year I do a seed inventory to make sure I have fresh-viable seeds and a lot more than I need. If I still have water, I can easily grow all the fruits and vegetables that my family can eat. I can also grow a good portion of the grains we need (corn) and can raise a fair amount of protein also (chickens and eggs).
61 and Greg. A back up plan to the back up plan would be to learn survival skills today while we have internet ability. I have a list of over 30 wild weeds I have eaten this year. If the gov takes everything I can eat and drink without anything stored. Also consider how thankful some will be when you show them how to eat. Store food ect, but learn weeds. We walk on more food then we eat. Youtube wild weeds. Learn while there is still time. Knowledge will be the most valuable tool.
JC … it is a lot cheaper then buying a farm and more moral then having to shoot and kill hungry trespassers trying to rob your farm vegetables to feed their children!
61, what you have is worth more than all the gold/silver on the planet.
The only problem remaining is prevailing mentality of man (male or female) that pay no heed to the dangers of over-population. We live on a finite planet with finite resources to service the needs of it’s inhabitants. This is a fact that we fail to keep front and center.
Iceland was able to appeal to the their thugs to come to their defense against the banksters because the population is smaller and more tightly knit and where each depends on the other for their daily survival.
I know 61 has a intimate understanding of the issues mentioned above.
The rest of us who hand over a few paper bills or swipe a card at the grocery store have no appreciation for the effort and risks involved in produsing food for daily survival. Time is coming when only those who have mastered these abilities will have a chance going forward. The rest of us will have nothing.
We must all contain our urges for sexual gratification to reign-in runaway over-population. I am completly against the chaddar garb worn by female gender of certain Islamic sects. The female gender must take control over their sexuality and reproductive function responsibly without compromizing their equal status with the male gender among man.
The solution is very simple. You modify your lifestyle. Spend less, save more, live modestly. If you live in an urban setting, store a little food, like our ancestors, start a garden for supplementing whats available, and become more agrarian in lifestyle. If you are adamant about your lifestyle, or refuse to consider moving from the city, or are committed to living off the government, then pray the status quo continues.
Actually, in Kuntsler’s World Made by Hand books, there has already been mass hunger and die off. The books deal with the survivors of an apocalyptic event. Their whole lives revolve around the production of food and life is hard. For security and other reasons, many people in this town work on one large property owned by a (previously wealthy) landholder/farmer who has the experience and knowledge. Apart from the odd night of music and dance, there is little fun. Once again, people die from simple infections and women die in childbirth. There is no electricity or gas. On the upside, there is no obesity…
The books are quite good. Much better still, are William Fortchen’s excellent “One Second After” ( post emp event) and the early 1960’s classic “Alas Babylon”, by Pat Frank ( post nuclear war).
Apparently you haven’t grown anything in your life. Every year people do what you claim cannot be done, including myself. This year I had so many vegetables, I gave a lot away to friends and relatives. So yes, it is that easy.
Really glad you could get Eric Sprott on. As a suggestion, wait until he returns from Alpha Centuari before doing the next interview…it’s a bit hard to hear.
“Innumerable nations bust themselves voluntarily, socially, politically, financially, conomically and morally. Ironically due paradoxically to an overflowing wealth and
US to relinquish superpower status by 2020.”
Why buy a car? Why buy a house? You are forced to register these purchases therby transferring ownership to the registering authority.
The vehicle dealer transfers the ‘Manufacturer Statement of Origin’ (Title Document) to the regional authority whithout informing the buyer. That is FRAUD.
Homeowner purchases home thinking they are owner only to REGISTER title with City. Now they are merely TENANTS and not owners and have to pay property taxes. That is FRAUD being perpertrated on them by the City.
Your home is your DOMICILE and is outside the jurisdiction of ANY legislation if you keep the TITLE yourself without REGISTERING with the City.
Are you aware of any CONTRACT in existence with the City, State, whatever, where you have given authority to have legislation imposed on you and your property? That would only happen if the authorities took an Oath of Alegiance to you not to legislate anything that confiscates from you or turns you into one of their slaves. Fact is the authorities take an oath to the CORPORATE Crown and NOT you.
You live in your skin. Your body is DOMECILED in a PHYSICAL location (not an address). The NAME associated to you the man (male or female) which is property of the registering authority has an address in some database. That NAME is NOT you the man (male or female).
If you deposit money in a bank under that NAME appearing in ‘your copy’ of the Certificate of Birth, who do you think has property right over your hard-earned debt notes? Well it depends.
If you are clear that NAME is your ‘agent in commerce’ and ‘trustee in trust’ holding and collecting in-trust assets for you under the ‘rule of private necessity’ to allow you to sustain your life, then you have right over the funds under that account holder NAME via legal maxim ‘equity prevails over law’ because it is you the man (male or female) that created the value for those funds. The NAME is a fictional entity with no mind or body and is incapable of creating value and is thus a bankrupt individual.
If you think the NAME is yours, and you endorse documents directly ‘as’ the NAME instead of ‘for’ NAME, then you are committing the offense of Copyright Infringment and the crime of Fraud for fraudulent use of the NAME that is property of the registering authority.
The true owner now has the right to harvest the fruits of your labour through all manner of taxes, fines, fees, charges, and licences whether written in legislation or not. But more than that, you have now attached yourself (the man) to the NAME which is property of the registering authority so that you are now ‘presumed and assumed’ to be property via legal maxim ‘accessio cedit principali’.
Slavery was not abolished but hidden under the cover of your ignorance that itself was manufactured through the ‘Public Fool System’ that your parents paid for with their tax money.
Do a search on how marriage licences were introduced and your eyes will open to the FRAUD!
Examine your copy of the Certificate of Birth to find that your parents occupations are captured therin. They use that information to value the FUTURE VALUE of that WAREHOUSE RECEIPT for the artificial PERSON that was created without the knowledge of your parents. In Canada you will see ‘BANK NOTE’ on the Certificate of Birth. In the USA Inc., you will see ‘AMERICAN BANK NOT COMPANY’ on the Certificate of Birth.
The word ‘CERTIFICATE’ means proof that Title exists and is not itself Title. The Registering Authority retains the Title document. So the NAME you think is yours in NOT yours.
Never use the word ‘PERSON’ when referring to a man (male or female) because a PERSON is nothing but a legal fiction with no mind or body. YES, the NAME you think is yours is actually an ARTIFICIAL PERSON.
The word ‘human’ is a derrogatory term as in ‘colored-man’ created for the purpose of subordination so that some men could rule over other men (male or female). The word ‘woman’ was also created for the purpose of subordination. The powers that did this wanted to relegate women to the function of child bearing and rearing and keeping house. It will take the female gender another 85 years to regain equal status with the male gender of man.
The word NATURAL PERSON was created for the purpose of FRAUD to make man accept reclassification as PERSON in legislation.
Read “It’s Not The Law” by Wayne Barbuto for more details.
I suspect you will have to order a copy of your Certificate of Birth from your Birth County or State to see “AMERICAN BANK NOTE COMPANY” printed on it as shown on the link above under “UPDATE**** American Birth Certificate” – second picture.
What you have is the paper copy provided to your parents at the hospital.
Read this before ordering a copy of the Certificate of Birth. In other words it is best NOT to place an order for a copy of the Certificate of Birth. It is better to find someone who has done that to see the evidence of “AMERICAN BANK NOTE COMPANY” printed on their copy of the Certificate of Birth.
– – – – – – – – – – – – – – – – –
From “It’s Not The Law” p.41:
Many would be surprised to learn that a Birth Certificate is a negotiable instrument. In America the original Birth Document is generally created at the county level (sometimes city level) via Birth documents from the hospital (for which the hospital receives $4,000 from the county for causing the registration of the birth) and passed to the state and federal levels. It is believed that these are passed on to the U.S. Dept. of Commerce (which is probably paying the County), and there is evidence that they are on file there, but it seems that they are filed under an unknown name. Some suggest that they may be kept in Puerto Rico, which of course is District of Columbia territory (RIL 2nd Ed., pp. 28, 93).
Some years ago a man in Santa Barbara, California managed to obtain his original birth record document from the Department of Commerce by way of a Freedom of Information Act request. He reported endorsements of seventeen different foreign countries on the document. There may also be other types of birth documents used by the U.S. Government, and others, to obtain loans of credit (CC3 p. 107).
Your Birth Certificate is one kind of security instrument used by the US Government to obtain loans from its creditor, the Federal Reserve System (RIL 2nd Ed., p. 93). Many who have studied this say that back in 1933 these were determined to be worth $630,000.00, which was supposedly based upon the value of the future labor of each person. By the late 1930s the value had risen to $650,000.
Supposedly, upon notification of the receipt of a new Certificate of Live Birth at the Department of Commerce, the Department of the Treasury takes out a loan from the Fed for $1 million (current determined value), and purchases a bond from the Department of Commerce, which then invests the funds in either the stock market or bond market. These certificates are bundled together into sets and placed as securities on the open market where they are then purchased by the Federal Reserve and/or foreign bankers. The purchaser is the “holder” of the “Title.” This process makes every person in this jurisdiction a bond servant.
“They take your birth certificate and put a bond with it, which puts you in the warehouse of the federal corporation. That allowed the corporate U.S. government to create the credit they needed to lend to the Federal Reserve Bank. Your Straw Man was made a ward of the State” (Rice McCloud in, Tax Truth News, January 1, 2002 p. 2).
These Straw Men are, at least in a legal sense, the property of the system, because they were created by them, and most of us have not made a contrary claim. The problem with this situation is, if they elect to fine, enslave, or kill the abstract Straw Man, then you, the physical biological being, suffer the consequences in reality.
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RIL 2nd Ed. Redemption in Law: Cracking the Code Second Edition
Also, examine the bottom of the Certificate of Birth to find “WARNING: A CERTIFICATE OF BIRTH IS NOT EVIDENCE OF IDENTITY”. Yet it is the founding document for all ID issed by CORPORATIONS masquerading as GOVERNMENT.
Just consider how deep the fraud perpetrated upon us unsuspecting victims goes… not just to the degree of our certificates of live birth actually being the creation of a character of legal fiction which is then owned by and used as collateral by a corporation… which identity we, as individuals of flesh and blood identify with by use of our NAME, thereby unwittingly becoming a slave of said corporation by the power of the state, but consider that on a deeper level that mankind was seduced into slavery to the prince of the power of the air (Satan) having been made subject to the law of sin and death through an act of disobedience and that the only way out is through regeneration (spiritual birth from above) made actual through the resurrection of the Lord Jesus Christ from among the dead with a new identity in Christ Jesus Whose kingdom is not of this world and of which kingdom we who have believed are citizens and are eagerly awaiting from heaven a Savior who will transfigure these bodies of humiliation conforming them to the body of His glory by the same power with which He is able to subject all things to Himself (Phil. 3:21) for we died and our life is hid with Christ in God so that when Christ Who is our life is manifested we shall be manifested with Him in glory.(Col. 3:4). This is why the only sure way out from under this worldwide system of tyranny is to receive the reconciliation God has offered to us through faith in His Son and be regenerated unto a living hope. So “Fear Not” for greater is He that is in you than he that is in the world. (1 John 4:4) and God has not given to us a “spirit of fear, but of power and of love and of a sober mind” (2 Tim 1:7). That is why I say to you Greg and to all who come here to read and post ” The grace and peace of our Lord Jesus Christ be richly with your spirit”.
Ok, I get it about the birth certif, but it’s just paperwork. Paper is paper, not reality. If we don’t Facebook, smartphone, use credit, drive trackable cars with GPS, and don’t have TV, we go off their grid. They can only control those who stay in their game. Don’t accept any govt help, and you are free. We’ve forgotten how free we can be.
PS a great reason for NOT getting a marriage license, home birth, home school and devise a way to live off system. The gypsies have been doing it for centuries. What do we think all those untraceable immigrants from the ME are???? they are undocumented people. So, the less on paper or digitally we live, the more freedom. Of course, that means doing some work.
Greg it is on the older birth certificates. The laws of courts are different the law of the land. Everything oneno said is true. Sad to know we have been lied to from birth.
oneno you said it. Slavery was not abolished but hidden under the cover of your ignorance that itself was manufactured through the ‘Public Fool System’ that your parents paid for with their tax money. Well said.
So not only don’t we own our paid off home (unless we pay the criminals in charge property taxes) … now what you are saying is that we don’t own our own bodies and can be robbed of our labor by the criminals in charge giving us a negative interest rate on our savings? … determining what chemicals and GMO foods we eat? … and deciding when our bodies are no longer useful to them with “death panels”?
The red pill is hard to swallow.
Im Canadian there is no such thing as “bank note”on my BC
Canadian Bank Note refers to the company – the Canadian Banknote Company -that manufactures(d) specialty paper for currency, official documents, etc.
Greg, I know common sense isn’t common but even a village idiot should
understand that any entity. be that an individual. corporation. city or country
can’t continually spend more money than they take in. There always comes
a day of reckoning. Because the USA greenback has for too many decades
been the world’s reserve currency the criminals in charge have come to
believe this basic law of nature doesn’t apply to them because they can
create billions and trillions of new FR notes out of thin air and the world
has to accept those pieces of paper at face value. Well what happens
when the world no longer chooses to play that game. That’s the situation
now and all hell is about to break loose and the idiots that created this
mess haven’t a clue what to do. They are done like dinner but like always
it’s the little guy that will pays the heaviest price for this criminal malfeasance.
Stonewall … We can mitigate the pain to come by buying gold and silver with the paper fiat they are creating out of thin air … while it still has value (to some people)!
Jim Kunstler lives in upstate New York and grows much of his own food. See kunstler.com
Of interest to (formerly Donna) is Greg Hunter did a 15 minute interview with JK several years ago.
The BIGGEST WELFARE KINGS in this country are, in no particular order: Bankers, military contractors, oil companies, insurance companies, Big Agriculture, Big Pharma, bankers — oops, already listed.
To blame teachers and the elderly who paid in to a fund for decades is assanine!
How much has the Sprotts of the world made off these funds on Wall Street? Not even a guilty conscience, it seems.
Sprott may have made a lot of $ in the PM markets, but he has also lost a lot in those markets and unlike the crooked banks he was not bailed out.
Whilst he does command an audience with his very succinct data points…one cannot help but feel ES –
Talks his own book
Has a conflict of interest
Has money in the Game.
Is that any different from any other guest?
For sure he has played the cards (for himself and many investors) based on his astute observations, he nonetheless has a vested interest to ensure there is some semblance of a pot of Gold at the end of the Rainbow. Whether that is achieved through good investment decisions or through the leverage he is able to exert….he still arrives at the destination…a Billionaire… give or take a few $$$.
Much conjecture about interest rates.
In my mind we cannot have normalised interest rate policy because the economic circumstances are not normal.
Just like in 2001 …things werent normal…..Greenspan did the unthinkable. IN 2007-08 again we found abnormal conditions and in 2009 interest rates started the journey to where they are now.
The explanation for this Negative REAL Interest rate world ( because Inflation ensures any positive nominal rates become negative) is that Debt has replaced real growth. The non acceptance by TPTB of their ill fated and poorly executed policy has now led to the phase of speculation and mal-investment in the highest order. Mountainous debt accumulation has does ZERO for bringing us all back to some degree of normalization.
On the matter of Collapse or Bust (which always typically follows the Boom phase…thanks to the geniuses of the Central Banks and the idiocy of Keynesian Economics)…. I believe we are literally living it now. It is a process… a long and convoluted unwinding which doesnt necessarily involve a sudden event. Evidence of this process is seen in ….Education and Healthcare which despite the increasingly costly systems, they fail to deliver any marginal improvement. Infrastructure deterioration, National Security overblown, Misappropriation/misallocations of new taxes. Nothing gets fixed. No one wants to initiate reform. This all comes about through those that hold power and wish to retain it. They are making the decisions not for the greater good …but for themselves. The sooner these people and their self interest are removed …the sooner we can get on with real change.
SIG … eventually “everything” reverts to the mean! … zirp is like holding a basketball under water … eventually it gets out of hand and pops to the surface … if for no other reason that it is getting dark and everyone is getting out of the US fiat pool!
……Everything in the world we knew….. in the past….. that assumption would be relevant.
Remember Interest is a curse and its application ….Usury…..was a manifestation of the Money lenders. This is the greatest crime that we are living through today.
It’s been my opinion that we pasted to point of no return long ago.
There is no way to fix the problem.
We can only guess on how it will blow up but one thing is for sure is it will blow up.
The debt it beyond what can be carried for not only the Government but also Corporations and a large percentage of the population.
Inflation has carried the country for quite some time.
It allowed the increase of debt without great consequence.
But now we are at the limit and there is no way to push it without drastic action.
All they can do is forgive the debt.
Will they do that?
I doubt it.
If they do for who will they forgive?
This idea of negative interest rates would might mean pulling cash off the streets.
I doubt they would do that as it would create many problems as people would find other ways to place their money somewhere where it does not cost them.
At that point they would either have to create new laws or re-invent the banking system.
All we can hope for is that we can find a way to survive for this period of time it takes to climb out of the rubble of the old system.
If the bankers can give negative interest rates on our bank accounts … I see no reason they can’t start giving us negative interest rates on our credit cards … we people can use the extra free money … how come only the bankers get extra money for free?
I keep hearing/reading about deflation and there is deflation in the CRB index. But if you look at the Chapman CPI, prices in major cities throughout the U.S. are increasing anywhere from 9 to11 percent (and that is what I am experiencing). Additionally, if you include assets like stocks, bonds and real estate, the prices there are increasing dramatically. I think we are living in some sort of Orwellian totalitarian nightmare where the middle class is going to steadily be driven downward into the lower class and all freedoms (including freedom of thought/choice) will essentially disappear. I know I sound negative, but that is what I see happening.
Yea, its on it way in reality, inflation is everywhere, food prices, oil changes, property taxes, etc., as one gets less and less disposal income due to inflation that party becomes the less influential in regards to everything including opinion; kind of like listening to a homeless person about things; no one does. We are on our way to be sure, every part time low wage job takes an American from the middle class to the working poor. Look around and let your eyes see, its already here, its just not very recognized yet. Enjoy your comments, ab
Why doesn’t the government pick up the school tax bill property owners are burdened with? … they are trying to jump start the economy aren’t they? … they can up billions for the Pentagon’s new toys that don’t work … why not give “some relief to us taxpayers” who are the ones who really drive the economy?? … they are “too stupid to be stupid” as Greg would say!
With all the money the government gives to the military/industrial/banking complex … they can’t spare a few dimes for the people and lower the school taxes that are imposed on us? … they make “homeowners” pay the bill to educate the workers that industry will eventually hire … why not let industry pay the cost of educating their workers … all industry wants is the profits without the costs … and to make matters worse for the people the government fakes the Cost of Living Numbers so they don’t have to give the American people a living wage … yet they provide foreign aid to hundreds of countries around the world to help their people (who are not American citizens) … they provide nice $100,000 dollar salaries for terrorists but true blue Americans are considered lucky to have to have a 29 hour per week job … and look who they just put in the House Speakers job … a man who believes in “open borders” so a zillion Mexican’s can compete with the true blue Americans for those 29 hour per week job’s.
I have an idea why don’t the American people get together to form a Charity Foundation (like the Clinton’s did) then we can cut out the Government “middle men” and offer our own favors to Kuwait, Oman, Qatar, the United Arab Emirates, etc, etc. for contributions to our Foundation … which can then be used to lower our school taxes, lower the interest rates on our credit cards, etc., etc. … let the “American People Charitable Foundation” take the place of the “middle men” crooks in Washington … we can dole out our own favors to the world … and at least the money donated comes back to us instead of into the pockets of the Washington crooks! … I’m sure there are many lawyers at Judicial Watch that can help us set up such a “Charitable Foundation” for the benefit of the American people … to take the place of the Washington crowd doling out favors for private profit !
When I looked into that the Chapman CPI about 6 months ago I found it to be flawed. All he did was mostly take his a sampling from his Facebook friends. Most of them are white upper income people living in major cities. Most Americans are not white upper income people living in major cities.
It is still not as flawed as the current CPI. In fact, they changed the way the CPI is calculated from how it was done in the 1970s and earlier. If you don’t like the Chapman index (I do), then just check out John Williams work. It will tell you the same thing. The CPI is deliberately (and falsely) reported as low so that the cost-of-living increases for Social Security benefits, etc. are near zero.
I agree. The Chapman CPI is not as flawed as the government’s CPI. I already knew about ShadowStats CPI which I think is accurate enough. Just wanted to inform people about the narrow sampling of the Chapman CPI which is why I think is flawed.
Yup Snork, in other words, were all really, broke, busted, and soon to be thoroughly disgusted. In so many words of encouragement!
Get out of town, don’t get ah gun? Get gold, get God, and if still alive, get ah garden! https://www.youtube.com/watch?v=zWkNT5A3wIk
Training wheels; https://www.youtube.com/watch?v=Ato6rpAGEz4
A few comments. Sprott mentions Japan. We (citizens of Earth) are all in the same boat. Japan has been issuing supplementary budgets (because the main annual budget wasn’t enough) ever since the bubble burst 25 years ago. Interest rates at 0 and going nowhere. Even though Abe has shot “two arrows” in his Abenomics program, last Friday’s newspaper showed that local companies are going to cut back planned hiring for next spring (the regular hiring season here). So much for Abenomics and the quick fix. I have a student whose business is being killed by the TPP negotiations. Strike two for Abe. And yet the yen is still accepted for payment and so things keep going.
Tom G. … instead of giving COLA increases to the people in need on Social Security … and other useful things like saving cities from defaulting on their pension obligations, etc. … they give all the newly printed money to the Pentagon for weapons that don’t work (because “back doors” are now embedded in our weapon system computers) … we sure have a bunch of really bad loony tunes running things!
Eric made some statements that I’d like to elaborate on. He said that Russia and China are no longer buying US treasuries. He said they are buying lots of gold. This is correct. What readers need to understand is the US is suppressing the price of oil in association with the Saudis in an attempt to deprive Russia of oil revenue. This is economic warfare and Russia has responded brilliantly. Russia takes inflated dollars for the cheap oil and then immediately buys cheap gold. America can lower oil prices all they want but Russia will effectively just demand western gold in payment thus turning the tables. This is why the US is threatening Russia in Ukraine and Syria. This is why the US is threatening China on the seas. The petrodollar is dying and the US is bankrupt. Once China reprices gold at the physical price and exposes the paper price as a fraud it’s game over. They’re just waiting for the right time. Eric is being diplomatic about all this but that’s what’s really going on. He knows gold will be repriced eventually. Bill Holter and Jim Sinclair know what’s coming. Now you know too. So, don’t worry about the gold price. It’s manipulated by naked shorting to prop up the dollar but that game is ending. The US govt, as Greg commented, no longer has a debt ceiling. It effectively no longer has a budget process. They just gave $80 billion more to the Pentagon. Can you imagine how that money could help all the states with their financial problems? The states get nothing but the war machine gets everything. It truly is the end of the road. You know the end is near when America funds terrorists, lies about the inflation rate, and puts out phony economic numbers. For an in depth explanation of the Russia/China strategy against the petrodollar, read this article from December 2014. Quite illuminating.
Yeah, no way out of this mess. When the end comes and I suspect that
won’t be too far in the future, Russia and China will have most of the
world’s gold and USA will have mountains of colored paper that won’t be good for much except to feed the furnace to keep from freezing to death similar to what happened with Wiemar Republic marks back in the nineteen twenties.
Of course the difference now is that the public is slowly being made aware
of how dire our situation is through sites such as yours Greg. Keep up the good
work so at least some people will have a chance to prepare the best they can.
I posted part of the article on Facebook as it is now more appropriate in 2015 than it was in 2014?
In the financial world it is accepted as a given that gold is an antidollar.
In 1971, US President Richard Nixon closed the ‘gold window’, ending the free exchange of dollars for gold, guaranteed by the US in 1944 at Bretton Woods.
In 2014, Russian President Vladimir Putin has reopened the ‘gold window’, without asking Washington’s permission.
Right now the West spends much of its efforts and resources to suppress the prices of gold and oil. Thereby, on the one hand to distort the existing economic reality in favor of the US dollar and on the other hand, to destroy the Russian economy, refusing to play the role of obedient vassal of the West.
Today assets such as gold and oil look proportionally weakened and excessively undervalued against the US dollar. It is a consequence of the enormous economic effort on the part of the West.
And now Putin sells Russian energy resources in exchange for these US dollars, artificially propped by the efforts of the West. With which he immediately buys gold, artificially devalued against the U.S. dollar by the efforts of the West itself!
Exactly Michael H … it is simple logic … take US dollars “artificially” increased in value … and buy gold “artificially decreased in value” … what Putin is doing is the exact same thing we USA WatchDogers are doing … playing this sort of “chess” against the “checkers” crowd at the Fed is a “no brain” er … and I thought these elite “reptilians” were intelligent??? … unless … perhaps they are playing a “three dimensional” chess game … and even we regular chess experts can’t see their logic??? … perhaps they back engineered some alien technology that turns lead into gold … so perhaps they have an almost infinite supply of gold just from the old batteries we are required to turn in for $5 bucks!
Just to clarify something. Russia and China are still buying US Treasuries. They buy, sell and have Treasuries that mature almost every month. The last couple of reported months shows that Russia has increased their Treasury holdings. All that has happened is that Russia and now China has lowered the amount of their FX reserves which includes Treasuries and are not going to significantly increase their Treasuries.
zero hedge reported that one of putins inner circle (founder of RT) was found dead in a hotel in DC over the weekend..of a ‘heart attack’.
In my opinion, the Fed is so confused because they haven’t gotten the inflation they wanted.
In an environment of hyperinflation, the national debt could be easily paid off, so the federal government/Federal Reserve colluded to print trillions of dollars, thinking this would create hyperinflation and the debt could be paid. Hussein Obama thought he’d be a big hero.
But it didn’t happen. Instead, most of the money went into the bond and stock markets, artificially pumping up a titanic price-bubble.
Gold? Who wants gold, when paper is rising in value so fast?
Combine this ridiculous fake economy with Hussein Obama’s amateurish, poisonous, pro-islam foreign “policies” and anti-Israel sentiment, and suddenly America is a second-rate has-been nation.
Leftism/liberalism/socialism has succeeded in destroying the greatest country in the world.
Grafique – the neo-con right would double defense spending and give more money to banks, military industrial complex, big oil, etc., and plunge us quickly into war with Russia and China. With even less investigation of fraud or enforcement of federal crimes. The group(s) in power control both sides, which are really just controlled opposition to distract the population to think that the vote matters or would change anything.
Apparently you have swallowed the line that the vote doesn’t matter. Granted there are many liberal Republicans in Congress, but there are also many very conservative Republicans in Congress. The problem in this country can be traced directly to the ultra leftist socialist Democrat party. If we are going to slow down the destruction of America, we have to put true conservatives in leadership.
If you can’t find a candidate to vote for, at least vote against the liberals.
There grafique goes again with the pro İslam anti İsrael nonsense Thats getting old fast As far as İ know its not Muslims who run Wall Street and the unFederal reserve İm truly beginning to think that there are trolls infesting this site just like our socalled “government”
Yeah, cognitive dissonance to the nth degree….yikes, Grafique, we’re not that dumb….have you fallen for your own propaganda that your group is soooooo much smarter than the rest of humanity?
I’ll stand with the Jewish people regardless of what you or anyone else thinks or says. The Jews are the family of Jesus Christ and a blessing has been promised to those who stand with them. If you want to stand with the Muslim terrorists, go right ahead. It’s obvious what you think of America and God’s people.
I think the world of America, and it is for this reason that I don’t want the Neocons to make America someone else’s attack dog.
The Fed’s bib mistake was not handing out $500 dollar bills to the people who go to the store and buy things! … even me as a kid knew this much when I played monopoly … did these Fed bankers ever play that game???
Greg, you never cease to amaze and impress me. I went on youtube to see what I could find on Jas Kunstler, and wa-la, there was your interview with him dated 7/8/14, I believe.
I was kind of new to your orbit at that time, so I either missed this one or he was just one of a sea of new names and faces that I was not yet familiar with. I just read the books and they impressed me.
I sure would appreciate if you could book him sometime soon because I think he is very knowledgeable along the lines of most of your topics, and he hits home on a street level with someone like me whose strong points are not high finance or math for that matter.
An RT/Max Keiser interview with James Kunstler which dovetails nicely with your guest today.
Kunstler does mention silver and gold transactions in his books. Trouble is, nothing much left to purchase. No end of free homes, too, after so many people died from viral and bacterial illnesses (flu, pneumonia, meningitis).
Looks interesting this Sprott.Nice shirt.Ligth behind his head.Could’nt see face
sound bad…Anyway crash coming collapse.When? Soon.They’ve all been saying that for
Years.Hey i’m reading a book rigth now saying the federal reserve and the bank of canada
are private omned.Is that a problem?Can you find someone that can explain how it works?Maybe Jim or James Rickards (or is it the same one)? Thanks Greg
Suggest you check out videos on YouTube by G. Edward Griffin re: Federal Reserve or Mike Maloney series on money vs currency. You’ll find just about any question you might have answered in these videos.
Try Ellen Brown’s (she’s been on Greg’s site) books and Stephen Zarlenga’s book.
Off topic, but this is a fine piece on PC destroying our country–among other things.
Here’s a fine example from Jim Kunstler about his recently being harrassed by the politically correct culture at Boston University.
Great work, as always, Greg. Sprott’s audio was almost impossible to follow, though. Just too garbled.
QUESTION for Eric Sprott (or anyone who could answer this): Eric mentioned during the interview that the COMEX has an equivalent of 5 tons of physical gold (worth roughly $150 million). And we all know that the COMEX is leveraged 293:1 (paper:physical). Sprott has $7.5 billion under management. So WHY doesn’t it simply buy Gold futures contracts on the COMEX for let’s say $200 million and ASK FOR PHYSICAL DELIVERY OF THE GOLD. Forgive me being confused and maybe there’s some technical aspect I don’t know (such as are these miminum 1 year contracts or can there be 3 months contracts?). Because I would think that a $200 placement for gold (which is Sprott’s line of business anyway) would firstly be chicken feed for Sprott, be a legitimate purchase (given he deals in gold), and to their financial advantage, as it could ONCE AND FOR ALL solve all this market manipulation. I mean just think of the profits that Sprott (and other gold investors) would make from the skyrocketing of gold prices which would follow a non-delivery from the COMEX. I don’t get it. Why aren’t Sprott or other companies just putting and end to this by buying contracts and requiring delivery??? I look forward to your insights and my apologies if I am missing something obvious. Cheers
That might be a great way to lose 200 million…
Maybe Sprott doesn’t want to become a victim of theft by the CIA as done to Libya, Ukraine, and the Saudi Royals stash in Switzerland.
The only logical reason I can think of is they don’t want to be murdered … which is what will probably happen to anyone who stands up to the “manipulators” … so it is up to the common people … all the men and women in the world to buy up this remaining gold and set the gold market free! … what can they do about that … kill all the people? … on second thought maybe that “is” their plan … Agenda 21??
Dan this is a really good question I have asked others, no one gives me a good answer. until I hear a good answer I will not invest heavy into gold or silver. Also Why sell if you believe it is money ? Most answer to fund there business. I don’t buy it.
If I’m not mistaken, those contracts allow for settlement in cash. (I’ve never read one.)
The U.S. is broke??? what does that even mean when the FED has the power to create money out of nothing? (OK, you’re not really creating money, you’re creating debt… but under a debt-money monetary system debt IS money… at least as long as one’s military is powerful enough to enforce acceptance.)
While individual states don’t have the power of money creation, even so the FED can come to their rescue.
Cash for clunkers and home buyers tax credit were both an effort to get the public borrowing money because the act of borrowing actually creates money.(that wasn’t such a great success so the ONLY option left is for the FED to monetize the debt, which QE is doing)
If your success is dependent on the current system you’re unlikely to delve too deeply into it’s inner workings to ferret out how it actually works. Mr. Sprott is a creature of said system… so he misses the real truth of what we are experiencing.
The collapse is not coming, it’s here. We’re living thru it now. Like the collapse of the late Bronze Age,(in that the known civilization is collapsing) the idea of a debt-money monetary system itself is undergoing disintegration. As it should. If history is a guide, this will occur over about a hundred, two hundred years followed by a New Dark Age… followed by a revival after a sufficient period of time – hopefully one that will forever put to rest any idea of ever conflating money with debt.
This is interesting … seems if we look back into history … there was a “one world order” of some type (which the elite today are trying to recreate) … where reptiles played a major role (just like the snakes in the grass today play a major role) … and where a pyramid with an eye at the top was a powerful symbol (just like the almighty dollar is today) … Earth may actually be the “new home chosen” by an ancient “reptilian type” people who had to leave their original home in Orion’s Belt for some reason tens of thousands of years ago … their artifacts show they had advanced technology which would be logical for a species capable of traveling between star systems … the question I ask is … did this reptilian type species intermingle its genes with the terrestrial humanoids that inhabited Earth before they got here? … were Adam and Eve influenced by a snake in more ways then just “talk” ???
Lucky for us most of the “terrible” lizards (reptiles) were wiped out by God years ago … but he didn’t kill enough of them … for “reptilians” still exist and rule the financial markets through their secret societies where they collude and conspire to “manipulate” all markets … they use secret handshakes and denote their reptilian blood line with symbols like the turtle on the front pages of magazines … they pride themselves with having the intelligence of their ancestors who came from “Orion’s Belt” … but some among them have “converted” to believe in Jesus as they realize that having too much “cents” makes it harder for them to pass through the eye of the needle … realizing that just because your smart does not give you the right to do evil things … to be morally corrupt … and to kill innocent women and children for financial or political gain … etc.
So you elite “reptilians” out there … you view this video concerning the history of how God takes care of “terrible lizards” … you are smart enough to know that “doing evil” will not save your soul … repent your sins … and become a follower of Christ … if you reptilian’s are reading the comments at USAWatchDog you must have doubts about the evil you do … repent … for these six letters will transform you … as they come straight out of the word reptilian! … https://www.youtube.com/watch?v=X4FOsxvCOc4
Politics, history and the Spratly Islands
Un-listenable. Should have been re-recorded
Greg, why did the Republicrats agree to raise the debt limit, and without even a fight? Frankly, the new speaker was all right with it as well, this just tells me that there isn’t a difference in the two parties, I wonder Greg just how long they can continue to make the basic American believe in this fairy tale of difference. When does the debt destroy the dollar as a valued currency? At some point in time doesn’t the debt to GDP crash the treasury bonds? If so, where is that point in your view?
When was the last time LAX was closed for an entire week for military maneuvers?
Chinese cruise missile destroyers in Jacksonville Florida last week for a friendly visit? U.S. Treasury Secretary Lew granting approval to the RMB as reserve currency on Friday in advance of the G20 meeting? Did you hear any of this on our MSN?
You connect the dots.
Addendum to post #3.
Just in case you missed it, China released this video in September. You can decide for yourself what the implications are.
Addendum to Addendum #1
Can anybody guess who does Banking in Switzerland? How about all the worlds largest Banks and investors.
The BIS …. does all their BANKING in Switzerland.
This should send alarm bells ringing and RED flags waving and RED lights flashing.
Given the BIS is the Central Bank to the Central Bankers….one could conclude that the BIS will bring PBOC under its wing. 😉
Just stepping out of the shadows one more time and adding another perspective.
“………The Navy Strategic Systems Programs held a scheduled missile test flight at sea from USS Kentucky, which is a ballistic missile submarine. The test was conducted off the coast of Southern California, the Pentagon said in a statement. ” video @ http://www.cnn.com/2015/11/08/us/southern-california-navy-test-mystery-light/index.html
Thank you Mary.
One would have to ask the obvious question. Why would test be run over a heavily populated area? As a rule the military does these types of test in isolation. Like a desert? I guess we’ll never know.
Jerry, What I’m still trying to figure out is why the Trident II missile test flight, from the USS Kentucky, was launched at approximately 6:00 pm, BUT the military designated that LAX should re-route flights from midnight to 6:30 a.m. What’s the point of advising LAX to “close” from midnight to 6:30 a.m., if the military is going to turn around and launch at 6:00 p.m.?
Just a few words on growing your own food. I’ve been building a large ‘garden’ for the last 5 years in rural Nova Scotia. I started with a DIY greenhouse because NS weather is sometimes very wet, and the extra 2 months of growing season is required for tomatoes, peppers etc. My partner and i have chickens, Alpacas, and 2 donkeys, so we have plenty of natural fertilizer. I store about 2500 gal. of rainwater off the barn roof …which has saved me the last two years when the mid summer turned very dry.
I can only reiterate what some of your earlier commentors have said: “DO NOT EXPECT TO GROW YOUR OWN FOOD, IN SUFFICIENT QUANTITY IN THE FIRST YEAR .”
….AND THE TWO MOST IMPORTANT ISSUES ARE HOW YOU FEED YOURSELF WHILE WAITING FOR THE HARVEST, AND HOW DO YOU STORE YOUR HARVEST TO LAST UNTIL NEXT YEAR’S HARVEST.
If you’re in an urban area, forget about growing your own (for numerous, obvious reasons).
Expect things to go wrong: My green house was blown apart by high winds twice ..it has been rebuilt 3 times now and appears to be stable …but i had to put up a windbreak ….and even that was blown down once.
Ive had great crops of zucchinis (SP?) , but this year cucumber beetles devestated the plants, along with my squash.
the last two years i had outbreaks of Colorado Potatoe Bugs ….they can decimate a crop in about one week if they gain a foothold ….so three times a day i’m out in the garden squishing the red buggers by hand, cause its the fastest way.
Greg, even with five years of building the garden, plenty of water, and manure ….we still store as much dried food (flour,rice,pasta,beans etc) as we can in the basement ..because farming is risky business…and unlike the old agrarian society of the 1850’s, there won’t be anywhere to turn if your crops fail.
Other than that, even though i’m out in the boonies, i still expect it will take at least twenty or so people to protect the farm 365/07/24 …from those poor souls who left the cities too late. I can’t imagine what it will take to turn away hungry people, but i realize we won’t have enuf to feed everyone. That is the reality our ‘leaders’ have sown, but we will reap the miserable harvest o f suffering.
Good idea would be to increase chickens and learn to hunt and fish… Nice start though.
It will be hard to defend any homestead against thousands of people attacking.
I hope you are hidden away.
The audio on the Eric Sprott interview was really difficult to understand. I even put in thru a bluetooth speaker to see if it would improve, but it didn’t. Could you possibly do some work on the recording to make it more audible? Thanks.
China meeting with IMF tomorrow – rumor has it to discuss china’s participation in a potential SDR scheme.
I hope there is credible follow up.
Only my second post but have been a reader for months. I believe we have been in a slow decline for years and that this will continue. While an epic collapse is possible, I am not in that camp. As a former United States Marine I will offer my two cents if our society does suffer a monumental collapse and goes “mad max”. After water, mobility will be your most important “supply”. So many unknown variables that as things deteriorate mobility will be of utmost importance, even moreso than weapons. Just food for thought
We had a nearly 300k jobs added…how would you explain that? How is this possible?
Am I the one that is wrong?
Thank you for the response…I also found a great explanation from Stockman…
As Greg says … one person is holding four(4) ten(10) hour per week jobs to make ends meet … this was the reason Obama Care was created … to make the job numbers look bigger … so those 300,000 jobs the government announced was equivalent to only 75,000 real forty(40) hour a week jobs … not enough to move an economy with 320,000,000 people!
Last Friday when the BLS said 271,000 new jobs were created Bill Holter asked John Williams about it … Williams replied the “seasonal adjustment” added 70,000 jobs and was an extreme outlier … when asked about the “birth death model” Williams said that “that adjustment” added an additional 165,000 jobs … so doing the math (271,000 minus 70,000 and minus 165,000) gives us the “true jobs number” of 36,000 … even worse then I thought … the 75,000 jobs figure I gave above is actually twice as high as it should be … “definitely not enough” to move an economy with 320,000,000 people!
Re-doing my math it would amount to one person holding 7.6 jobs and working 5.26 hours at each job to make a 40hr work week!
PS: (275,000 divided by 7.6 = the 36,000 “real jobs” the economy produced)
Thank you for that explanation. So even the job numbers are “theorized” how ivy league!
The question is what kind of jobs have been created. As much as i know loads of these jobs are parttime and low paying. Then you should have a look at how many jobs were lost and put these numbers in relation. Another point is that the government has added gigantic dept in order to prop up the economy. However when you check the real numbers as published by shadowstats.com you will doubt the economy is doing good. It’s all a huge prpahanda by the government MSM just in order to maintain the status quo for as long as possible.
@ Max & Paul,
Thanks I know this info, I am still shocked when I see this number.
The data doesn’t correlate and is not supportive of the economics of the wider domestic and international scene. Check out my comment on the WNW made to Aurele.
Thanks for response…the WNW is that the Weekly News Wrap Up….excuse my ignorance.
Nevermind I read it… yes I see what you mean. Thanks for pointing that out to me.
Another interesting interview with Sprott ,but I would be cautious . I think this is the fifth year he has predicted gold would be at ,or over , the $2000 by the end of the year . Billionaire or not he is running a precious metals business; if he was totally honest he would have used his knowledge to tell everyone to sell in 2008,but if he had done that his business would have dried up.
John … back in 2008 Sprott probably believed gold was going to $10,000 dollars per ounce … today he probably believes gold is going to $100,000 dollars per ounce … so why would it ever cross his mind to tell people to sell gold??
You can predict the end of the world , but you can’t figure a way to transfer audio ?
My guess is that Eric Sprott already owns more gold than he currently wants. If he were to go in and take delivery of futures contracts, there would be more gold registered for delivery and it WOULD get delivered. Gold can quickly come out of the woodwork and get registered at an exchange registered warehouse. There are tons of gold out there that is not located at an exchange warehouse. The 293 to 1 leverage is complete fallacy, as this would only be the case if every single person that owned a futures contract intended to take delivery. This never happens, and only a very small fraction of futures open interest ever takes delivery. Its been this way for over a hundred years, and will most likely be for the next hundred. Even in the unlikely occurrence that there isn’t enough gold to deliver, there are stipulations already in place for cash settlement of the futures contract. Thus there would not be an automatic explosion in price, but granted it would be a bullish development. The Comex will not default, I promise, because it has a cash settlement stipulation.
I’m not entirely convinced on that “next hundred.”
There was a moment of clarity in the audio when Mr Sprott said ‘There has to be a collapse, way bigger than 08’………could this be a Omen.
A bit of good news! We are getting some decent rains over North and North central California, we’ll keep our fingers crossed!
We could only understand about every third word so gave up listening. Any chance you could do the interview over or fix the audio? Thanks for your great interviews otherwise.
Ex-GAO Head: US Debt is Three Times More Than You Think
A must read!! Good points and real numbers…
I told myself I was going to back off posting to much and then I ran across this.
As I have been saying the past few weeks China is rapidly moving toward Reserve Currency Status either with or without the IMF approval. Here is another fine example of the criminal cabal that controls our government flexing its muscle as a display of defiance to the Chinese. Thanks to alert private citizens we now know why LAX was shut down for military maneuvers. I am stunned that the military would use innocent civilians as a shield to offer up a display of firepower to the Chinese. I defy anyone to give me an example the last time LAX was shut down for an entire week. This is totally unnerving.
We have lost this, they are holding all the cards and we know it!
Jerry, please post as much as you can!
Yes Jerry, post as much as you can but try to do a better job of being more accurate. Some of your links at times clearly do not support what you say. Not trying to be smart.
I mean I am not trying to be smart as far as my above comment to you.
From what I read from a number of major news sources LAX is not being shut down for an entire week. The flight approach for landings are just being re-routed from midnight to 6:30 a.m. daily.
Years ago I flew thru LAX on my way to SFO. It was then customary to actually close the airport at midnight. And I do mean close. The only cup of coffee available was from a vending machine. Crickets. I don’t know if those hours are still in effect or not. If LAX does not close at midnight any longer, it is a mystery why the Navy would pick suck a busy coastline on which to “test”. Why did they have to pick a coastline at all? There is plenty of ocean out there to “test” their stuff.
Gold price wont recover until someone reigns in the 300-to-1 Paper Gold leverage at the COMEX…. when you’ve got 300 fake ounces to every 1 real ounce, obviously your going to get price distortions.
We were broke as soon as we got off the gold standard and pegged it to the printing press and the will of Congress.
Of all your interviews why post such abysmal audio? ES is a billionaire for petes sake. He can’t afford a decent webcam and mike? And he is looking like he is going the Howard Hughes route. Good content but time for him, and you, ti update your sets.
A while since I commented here. Watch all your videos. Consistently very good.
I have been thinking about this pending collapse and have concluded it would be better for everyone if it has taken down quickly i.e. deliberately sabotaged despite the rogue FED because a slow crush will kill off needed production capacity all around the world and what ought to have been a large restructure will turn into a new dark age. Roughly 666 years ago we had the black plagues and about 30-60% of people in Europe, depending where you were, died over a few decades of repeat pandemics. It took a few hundred years to come right. It could well be that bad again. I would like to nominate that this latest event be called not the Great Depression 2 but the Great Humility on a few fronts, economic, environmental and of course spiritually. Keep up the good work. 🙂
I wanted to give a shout out to our Veterans. I have no doubt that the reason we are still here is because of them. The globalist know as long as our military and law enforcement side with the people and the Constitution, that their chance success will come with great cost. God bless you all!
I guess we know now why Switzerland accepted the Yuan for trade with the Swiss Frank and why the RMB will be given reserve currency status soon. Check out who was just elected as BIS vice president chairman. Can you say bye, bye, dollar?
From Politico this morning, I recall CLS telling us that all would break loose once Obama signed the bill into law:
NDAA TO MOVE QUICKLY THROUGH SENATE TODAY: The Senate is set to show how quickly it can move legislation — when it has all 100 senators on board. The upper chamber is slated to approve this morning the new version of the National Defense Authorization Act that passed the House last week — with no procedural votes, no waiting 30 hours and no 60-vote threshold. Just a simple up-or-down vote to send the defense policy bill to President Barack Obama for the second time. And this time around, with the budget issues resolved, the president is expected to sign it into law, even though the White House is still opposed to the restrictions on transferring prisoners from the U.S. military prison at Guantanamo Bay, Cuba.
Here you go. Its waiting for signature.
Greg, I really like coming home on Sundays and seeing the Early Releases. But it is a longgggg wait until Wednesdays. Ha! Keep up the awesome work.
US Banks Are Not “Sound”, Fed Report Finds
Every rational person ought to have a plan B to hedge these risks.
Want to monitor the health of your bank, stocks, ETF’S free? This is a great service which will email you if there is a change in the financial status of your bank, etc.
Following on from Eric Sprott’s interview.
If it was only a question of $150,000,000 to call the bluff of COMEX, I would be the first in the queue to subscribe to a fund whereby enough capital could be raised to buy and demand what physical gold there is at COMEX.
This article came via Jim Rickard’s wire yesterday
The People of India May Never See Their Gold Again.
The central bank of India does not have that much gold. But the people of India posses the largest gold hoard in the world – estimated at over 20,000 tons. This is more than double the gold hoard of the United States! Now the Indian government has devised a plan to confiscate that gold. First they lure the gold in with the promise of “interest” on the gold. They give people a “redeemable” paper certificate in place of the gold. We all know what comes next. The government will renege on the redemption promise and keep the gold. What’s worse is this gold will be available for leasing, which is part of the global central bank gold price suppression scam. Hopefully the India people will see through this fraud and hang onto their physical gold. Click here for more.
Oh to bring an end to this fraudalant behaviour?
Resident in Ireland
PS Please pass this message onto Eric Sprott
Look Greg I think your a decent guy , you acknowledge the Lord , and in my heart I believe in your heart ! But if you notice guys like Paul Craig Roberts and David Stockman refuse to say the silly things that some of these other guys are saying,(by the way they’re all selling something) what does the Bible say about predicting the end of the world, Christ covered it. And lets be honest if this system goes down like they say , ya know the Mad Max theory ,this arrogant government will use that military power to preserve THEIR way of life and the little guy who can’t even come up with 2000. in cash won’t figure in one bit ! So really whats the point? If it were to happen , do you think a garden in your back yard will save you? Do you want to have to shoot someone to live in that world? Do you really think America of this generation can survive that kind of world ? And your a smart guy you KNOW how the average guy will fair in that world. Stop scaring people who have just woken up to the economic reality that has hit ! If this government dose not have the ability to overcome this crisis , with all their resources do you think we can? You are a person of faith I know this ,pray Greg because in the end its what will make America Great not Donald Trump !
This country has earned Gods wrath through its perverse lifestyles and satanic worship.
My advice to you. Follow Lot’s example. Time is short my friend.
Charles I was not going to post to your lack of knowledge. I must say without the world propping up the dollar you would not live in your enjoyable life style. The world is going forward without America leading the way. It is not hard to see how people will be without food stamps, health care, rigged market, SSI checks in the mail, pension paid, How many will suffer I don’t know, but If IF I can ease ones future pain at the expense of making another uncomfortable… SO BE IT.
Gregg, I was at the ND SD LP conventions over the weekend. Invitations to come speak are now flooding in across the nation. Plans are going perfect, as predicted. My analysis says I have a 98% chance of taking the White House in Nov 16. Yeah, seems incredible. eh?
Eric will see gold and silver released, not by market demand, but by political effect.
Greg, I totally disagree with Eric (and all the other doomsday sayers). I have thought it through completely. A transition is doable, doable quickly, and can be done seamlessly, without massive dislocations. A PIECE OF CAKE for me. I now how. I have the plan, and can and will execute it.
Very Truly Yours, in Liberty and Freedom,
Derrick Michael Reid B.S.E.E., J.D.,
2016 Presidential Candidate, Libertarian Party,
Engineer, Lawyer, Military Scientist,
Market Analyst, Geopolitical Analyst.
Years ago, LBJ nailed it. He said you can’t have both guns [military and warmongering] and butter [social safety net]. He has been proven right. Both should be addressed. The idea that it’s just the entitlement programs/pensions is laughable, but what else would you expect from a billionaire!
As a long standing “golgbug”., I find it extremely interesting that there is much more going on in the gold markets than any of us realize. Case in point; as mentioned by Sprott and many others, if it would only take $ 200 M to draw done the COMEX registered gold to ZERO and cause the complete destruction of the paper gold game, then why hasn’t this simple manuever been done by those who wish to see the free market price of gold reestablished? This was attempted by the Hunt brothers on the silver market as private citizens, so surely any sovereign nation with an axe to grind could accomplish this in a second. Why dont they?? This tells me all are in colusion. Mining companies also would have thought this through and immediately formed a fund to accomplish this simple task of taking delivery and immediately rasingthe price of gold and there stock value. Yet they don’t. This tells me there is much more going on.
Love Eric Sprott and have a lot of respect for his views. What’s with the sound quality in this one though!?? I had to strain to understand most of it and replay many parts. Surely a billionaire like Eric could afford a broadband reasonable quality camera and audio setup?? Do you do a sound check prior each interview Greg?
So glad you were able to get Eric at this most important time.
Eric is a data driven guy with decades of experience. As you know, the team of experts he is directly associated with is recognized around the world as “the finest brain trust in the world in the metals sphere”.
We are at the precipice of major change. For those of us who have doubted our positions…this interview has served us well by reassuring us that we are, indeed, on the correct side of the trade.
Thank you for your part in this endeavor to reveal the chicanery and to encourage the faithful to persevere.