We Have Killed Capitalism-Jim Sinclair
By Greg Hunter’s USAWatchdog.com (Early Saturday Release)
(Programming note: I am releasing this now (Saturday 12/3/16) because I think it is the most important interview of the year on USAWatchdog.com.)
Legendary gold and market expert Jim Sinclair says, “Markets do not exist anymore . . . and you can’t time what does not exist.” Sinclair contends a huge transition is underway, and the old system cannot be fixed. A new one is on the way, and the old one is going to end with a bang. Sinclair explains, “Right now, they’re eating each other, and the eventuality is, getting back to the steam pot, there is going to be a day when there is only going to be one shark left, one very fat shark left, and what happens next? That shark starves to death because it ate all the food. So, the end of this is the explosion of that steam cooker which is called capitalism.”
Sinclair goes on to point out, “The over-the-counter derivatives have grown massively beyond world money availability. This has no precedent. We have killed capitalism. Thanks to the high tech guys, they have shot the goose with the golden egg. In the markets, if you go in and look at the New York Stock Exchange when I was down there, you’d have thousands of people there. Now, you’ve got 35 maybe. The market is killed, and there is no market in anything–including gold or silver except as it’s utilized to try to put some sense and rescue back into the whole system because there is no other alternative. This is what Trump has inherited. . . . If rates (on the 10-year Treasury bond) break 3%, it’s going to turn the algorithms away from everything else and on to one thing, the largest market in the world—interest rates. You are going to see the fastest moving interest rates just like when Trump was elected. That’s what the interest rate market is going to look like. That’s going to have an impact on every single derivative out there because every derivative out there has an interest rate criteria. So, you have a pressure cooker bomb cooking like the terrorists use. It’s cooking, and it makes gold a storehouse of value and not a currency. It’s just a storehouse of value. It turns it into a savings account. The only one that will work. The only one without a counter-party. The only one that doesn’t need a market that can trade in physical (metal) and huge size physical. China and Russia are not buying gold as some sort of investment. They are buying it as a policy because they see clearly that is no tool left in anybody’s toolbox to fix what the geeks have done. They have killed us, and they have killed themselves. There is one fat shark out there that is now about to experience starvation.”
In closing, Sinclair says, “When it’s all said and done, there will be a catastrophic big bang, and then the only thing that will be left is your savings account. Your savings account is not silver, although it will outperform gold, your savings account is going to be gold. It’s going to happen because all currencies, even the roaring dollar, are falling in terms of being a storehouse of value. Capitalism is finished. I can’t tell you what the next system will be, but capitalism is over because the heart of capitalism is markets. Without markets, you cannot have a capitalistic system—it’s over.”
Join Greg Hunter for one of the most compelling and enlightening interviews of the year with renowned market and gold expert Jim Sinclair of JSMineset.com.
(There is much more in the video interview.)
After the Interview:
Sinclair went on to say, “The financial system is going to blow no matter what. We’re headed into a new system. I don’t know what it is, but I am happy I am 75 years old.”
There is free analysis and information on JSMineset.com. Bill Holter is Mr. Sinclair’s business partner and also contributes original content and analysis. You can also buy a subscription to get exclusive analysis and content from both Sinclair and Holter on a regular basis. Click here to subscribe.
Completely agree. It appears that their real intent is to cut off all their clients. Since this article is in most financial reporting media organizations, there is no way DB clients could miss it.
From the article, Deutsche Bank Chief Executive John Cryan
“We expect to off-board about half of the current list of clients as the economic returns in these relationships are inadequate to us,” he said at the time. He also said that 80 percent of the investment bank’s income came from 30 percent of clients.
Now, if I was a Deutsche client, I would be wondering if they are going off-board me or………… are they making a killing on me.
Either way, it would be time to look for another bank ASAP.
Please excuse a quick response here to a reply post from Mr. Mancarella earlier this week.
I had asked if he, his daughter or anyone else had any knowledge if any of the Trump electors had received any bribes from the Soros-Clinton organizations to change their Trump vote to HC later this month.
His response seemed a bit confusing. I could only conclude that he was trying his best to tell me, in no uncertain terms, that he would not approve of me dating his daughter Gina.
Mr. Mancarella, you do not have to worry. I am not attracted to Gina. I prefer athletic women and also women that like to give back to their local communities. I understand that youindicated that your family owns Ireland, but please believe me that has ZERO interest for me. You can calm down now because I have absolutely no interest in Gina. TRUST ME!
Now if the following story is accurate about you and your daughter, please have a happy life under a Trump administration!
Macray Im very doubtful that commenter is who he/she claims to be
Macray, To think I thought Momma Cass was dead, only to find out she’s alive and well living in Australia and married to her Dad! My word, Great Scott! ! ! What’s this world coming too!!!
An end I hope. A much better one were in dire need of.
Go Trump! Bring it on Jesus!
We Still Love You M O M M A !
( Mama Cass Elliott )
There will always be capitalism. Maybe on a micro scale, but it will be there.
It will be doggy dog capitalism … so like dogs … we should all begin to piss on the banksters legs … by thinking outside the box … do the opposite of what they want you to do … instead go further into debt to buy physical gold (and then bury it) … this becomes “your very own gold mine” (unencumbered and secret) … then when money becomes worthless (and debt effectively disappears) … the only thing you will need is a shovel … to retrieve your golden treasure as needed (and the banksters know absolutely nothing about)!!!
Disclaimer: This is not investment advice!! … Nor would any illogical investment advisor ever suggest this!!!
This strategy could go very wrong. I recently heard they are going to index your debt to the inflation rate. I thinkbit was Jim Rickards that made this statement. So don’t count on your ability to bayback your paper debt with a bunch of devalued Dollars.
If they try to index debt to inflation just declare bankruptcy!
RS: I agree. Capitalism is an idea. You can’t kill an idea. It is also a choice about how to order and construct your life and how to manage your life. I choose capitalism because it suits my temperament and abilities.
Faith Claire, I personally prefer Free Enterprise over Capitalism as I believe Capitalism came out of the writings of Marx … Das Capital … Please correct me if I am wrong.
Yours in Faith and Liberty, FN, DB.
Did you read Das Capital? Marx said that Capitalism would eventually destroy itself, and the society and government with it, leading to a division of class, and an uprising of the lower class. Pretty much the way things are going, wouldn’t you say? It is doomed from the start, a thing once in motion that cannot be sustained. I did a research paper on this many years ago, I tried to teach those I could that to a point, Marx was correct. It is coming to fruition now. The world leaders will do anything to stop this implosion, and the end result is already written. Here I will stop, as getting into end days beliefs is out of place here. Just glad this world is not my permenent home.
Jerry some how the MSM would call it progress.
Have a look into the mind of evil men as explained here … https://www.youtube.com/watch?v=svJysyC7RDc
David has become one of the best informers of our times. Someone asked me How can God send anyone to hell fire to burn forever ? This is their reward their own actions.
Thanks Paul for the link.
I think its safe to say Deutsche Bank won’t be getting a bailout from China.
Considering that anti global sentiments are sweeping the international community it is very unlikely Angela Merkel will have any support for the German government to finance a bailout on the backs of German taxpayers. Add in Brexit and the Italian referendum that will most likely cause a run on Italian banks and …..the fuse is lit.
I am open for any discussion as to how Deutsche Bank can avoid financial collapse at this point. As an investor would you put your money in this bank? Not me. Internally the carcass has already been picked clean by vulture capitalist who have funneled off any real redeeming assets. Deutsche Bank is a 100 trillion dollar derivative debt bomb whose fuse has been lit. My advice. Seek cover while you still can.
I’m sorry Greg. I couldn’t resist posting this after what Deutsche Bank did on Friday by cutting loose 3000 clients. Yes panic has set in. It now appears its every Banker for himself.http://www.thebanker.com/Editor-s-Blog/Global-banking-is-dead
I was wondering where I have seen this restructuring move by Deutsche Bank before, and then a light bulb came on. In the insurance industry its called a “death spiral”.
Corporations going into survival mode, usually try to cap their loses by clamping down on underwriting for new business while raising rates on current clients that they perceive to be a risk. What usually happens is the capital inflow, which is used to drive the business, is cut in half, putting even more pressure on their balance sheets.
Over the years I have never seen this scenario be successful wherever it has been used.
Take it for what it is. The last gasp of a business that’s about to die.
Cannot resist to make a general comment I sent today.
Dear Vice President Elect:
I so commend you for your calm, cool and dignified responses on the Sunday shows as the media monsters ask ridiculous questions.
Jill Stein should take her $ 7,000,000 for the recount and give it to Greenpeace. What a hypocrite. Or Mrs. Clinton should give it to the poor that her party has created.
You are an amazing man with a wonderful family and our country is blessed to have and President Elect Trump coming into office.
I can only share these feelings with my husband and sister as my other female friends are drinking severe Kool-Aid. Very alarming.
God Bless you all.
This article about the election recounts argues that
“if the matter remains unsettled by Dec. 19 this could – technically speaking – give the Electoral College’s “faithless electors” yet more reason for not aligning themselves with their constituents. Or, on the other hand, the Wisconsin, Michigan and Pennsylvania votes could be considered forfeited because they failed to resolve the issue by the Dec. 19 deadline.” So Gina may be proved correct…
If they forfeited the votes in those three states because the recount isn’t complete wouldn’t that forfeit Clintons votes in those states also, and if this happens no one would receive enough electorates to win. Wouldn’t the decision then fall to the Republican held Congress?
Given that Greenpeace receives funding via the Tides Foundation, (George Soros), you may want to consider a more deserving cause.
Off topic – WAY off topic –
Here’s a little Christmas humor for all you Watchdoggers,
Laughing . The later tree is better then the first one. Santa sit in my garage and ask me what I don’t like about Christmas. I said satan you are what I don’t like, I love Christmas.
I then asked him why do you encourage parents to lie to their kid by telling them you are real. He turned red all over, and said Bah Humbug.
Santa Claus, the Easter Bunny, the Tooth Fairy, etc., etc. is a way for the globalists to break the trust children have in their parents and to foster in children’s minds that their parents lie to them … thus when their parents tell them to be good because God may punish them and send them to hell … they think it is just another lie … and parents saying don’t do drugs because it is bad for you is simply ignored … the globalists know exactly what they are doing to destroy the family (and thus the nation) to make their one world government!
My ribs are still sore from laughing.
RL, Thank you , we got a good honest laugh out of this and Hachoo to you too !! Merry Christmas to you and yours, DB and Family.
Guest suggestion: jim dines of the dines newsletter. Dines talked about a brand new economic system replacing capitalism, something never seen before.
Can you give a brief description of it?
I just saw a video by a guy named Dave who claims Hillary has Kuru disease Sounds like its a real possibility What say you Watchdogs
I think Hillary has Ku Koo’s disease … brought on by bouts of “moral reflection” that makes her faint … but once she has a stiff drink (children’s blood) her face becomes more youthful and that makes her feel better!!
Then again … she may also have in addition Creutzfeldt-Jakob disease caused by adding human brains to spirit soup!
I support Doug’s guest suggestion!
By the way, great interview again Greg. Thank You
As you indicate in your opening at the top of the page, “Legendary gold and market expert Jim Sinclair says, “Markets do not exist anymore . . . . . . . . . . . . . and you can’t time what does not exist.”
Correct me if I am wrong here, but this would imply that anyone claiming they have a system that can predict market timing does not believe Mr. Sinclair’s to be true.
Until the Dollar is removed as World Reserve Currency – the West is playing Monopoly. China and Russia will at some time pull the plug – but when cannot be known.
As to Jim Sinclair – the man is honest and honorable: a mistake on his part therefore would not make him untrue. For example – if someone came along just at the right time and ‘predicted’ the crash just on time – I don’t think this disproves Mr. Sinclair: but more proves that a multitude of factors can sometimes combine at the opportune moment to be ‘right’. From Sinclair’s position and experience: I think he is correct.
“Capitalism is dead”, this comment reminded me of an interview on the Corbett Report # 1046 with Patrick Wood.
Observing the current “mainstream” news and watching all the current seeds being planted and the implications of said seeds. This is a current article from Canada, http://www.cbc.ca/news/opinion/big-price-little-dollar-1.3887824
and I wonder when they plan on implementing such a plan. Biden’s visit to Canada this week was suspicious and distressing to say the least. All the dots are connecting and the picture isn’t pretty.
I think it stands to reason that the consequences will be far worse than the great depression because the credit and debt bubbles are magnitudes bigger now. The comparison of debt to GDP can be misleading as well because if you overstate your GDP you can massage the figures to make a countries debt look lower. Better to look at the deficit figures.
When it all implodes there will be such a loss of confidence in the system that no one will trust anything that has counter-party risk. Therefore, I don’t think anyone will trust a gold standard (in contrast to physical gold) because that requires a faith that governments and institutions are telling the truth about how much gold they have.
It’s going to be the Law of Consecration or United Order. Christ will be ruling on the earth for 1000 years and we are going to have a Godly way that really works and creates prosperity.
Oops! I hate it when that happens!
Oops twice! I meant my comment to apply to Robert Lykens link!
A world where no one loses.
As each new step was taken to prevent a loss with the advent of insurance and then derivatives they have created a a world where people are no longer part of the equation.
Without loss there is no pain and without pain one will never know they are dying!
Have a question which is not really related to Jim
The Clinton’s past seem to be popular again.
When Bill Clinton finished his first term as Governor he had made a mistake which upset the people and it was clear that his winning re-election was in doubt.
Bill Clinton went on TV and cried like a baby pleading for the people to forgive him.
I always felt that Clinton was behaving much in the same way that these televangelists were.
Jim Bakker cried like a baby asking for forgiveness for instance.
During the election when asked what his plans on the economy were Clinton referred to his book as having all the answers as if the book he was referring to was a bible.
This video of Clinton crying was seen only once after it’s first airing which took place during the Bush Clinton Election.
I imagine that the Bush team thought it might help Clinton rather than hurt him so it was no longer used.
I am surprised this video is not on Youtube!
Anyone know why it is not to be found?
I wish I was 75 years old. The virtual Jim was referring to, relates to all the failed predictions from market watchers as to when this thing would “hit.”
Let’s see, it will hit in 2008. . .2009…2010. . .2014. . .2016. Has made fools of us all.
I would hope even a liberal like Gina M. would receive the necessary lightning strike, to purchase gold and silver.
Live each day as if it were your last.
That’s the problem Greg, the abnormal crisis interventions (negative real interest rates, QE, dire warnings from us Cassadras) have become the norm so people are not worried anymore.
Greg, I’m not disagreeing with anything Jim or you have stated. Predicting date and time is almost worthless.
If people can’t understand the debt will never be repaid, and we’ve reached the abyss what else can you tell them?
They have to prepare with gold and silver.
What we haven’t seen, at least globally, is unprecedented central bank money printing. No country with a gold backed currency.
Believe me, you don’t know how in agreement we are.
Hey Tad … The US dollar has hit “one penny” in purchasing power … that is not a failed prediction … as for gold … it is now selling for about $1150 per ounce … so how many pennies is that Tad? … I’ll tell you (115,000 pennies) … now with each penny “worth one dollar” in purchasing power … gold has already “hit” $115,000 dollars per ounce … hope this is enough of a lightening strike to wake you up from your long sleep from 2008 … 2009 … 2010 … 2014 … 2016!!
According to this reasoning … for gold to hit Jim Sinclairs prediction of $50,000 dollars per ounce … gold still has a way to fall (to $500 dollars per ounce)!!
I wasn’t sleeping during those years Paul. Granted those were anxious years as I was a part-time worker. I’m familiar with purchasing power loss. I could question your computation as well as others, but what remain is the printing machine never stops.
No one knows the final dollar price of gold or silver, before a reset.
It hasn’t been the difficult to see the big picture, if you’re into reality.
Its very personal and I find is deeply internalized. A bit like deciding to commit suicide.
It comes down to whether sanity will restrain the cliff dive exercise (default) or whether unchecked money printing–like a hyperflationary process–will render you impoverished, if not
I read Doug Casey’s Crisis Investing during the early eighties recession. I think I became aware long before you did, Ace.
Like others, I always knew it would happen, just not a good grip on timing.
Well Tad … hopefully your long wait is over … as interest rates begin to rise … it should begin to push the precious metals higher for you (just as rising rates created a massive precious metal rally back in the 1970’s) … investors usually see a rate rise as proof inflation is kicking in … and as they see their inflation fears confirmed by their bond portfolio’s crashing … they look for alternatives to protect them from the inflation the Fed is trying to counter by raising rates … like gold and silver!
I’m 63, and believe me – with the wear-n-tear, weakness, and failing health: you don’t want to be 75.
Also – no man makes another man a fool. Being either a fool or wise comes only and exclusively from our own judgment. If I could dish the blame off on somebody else – I would: but I can’t. That’s why Liberals refuse or rewrite History: they refuse to learn from it. It is not profitable that we also should refuse to learn from our own mistakes from not facing them.
The live each day thing is good. The words are easy: being a master takes practice. No one can fault you on being positive.
I think I would rather have appreciated having lived 75 fruitful years, than my 58, going on uncertainty and certain chaos.
I look at other hands too; but am stuck playing the one I got. I hardly stop wondering; but for sanity have stopped questioning. If you’re American born, or raised: you have had a lion’s share of good in life. No one can take that away.
The problem with Sinclair is that he keeps assuming the Fed would do the right thing and deal with problems. He and many others didn’t expect the Fed would dig a bigger hole to get their heads bury deeper into the sand.
Great interview Greg. For those of us who do not have the means to buy gold we had better be ready with our basics of food water and shelter for when it blows. My friends and family tell me that I have been telling them for so long that they don’t want to hear anymore. Think I had better head back to the farm now instead of waiting for an inflection point or trigger, for as Jim pointed out there has been no precedent. It is scary to visualise how a new system will operate without precedent especially if you do not hold silver or gold.
So, so many people with their heads in the sand about this coming apocalyptic scene about to unfold on the whole world!
Day number ONE when the EBT cards cease to work will be when people realize that the game is over.
I believe that local police forces, state police, FEMA, and perhaps local prepper militias have plans to seize Walmarts, Sams, Costco, and Targets. If they don’t have this planned, they better start. Sharpshooters on the roof to cover avenues of approach, armored vehicles nearby, drones overhead at a minimum. I would have this plan. Look at Venezuela and what they are doing to protect food.
The next question is how to protect water supplies. Here in the desert of Arizona it will be a huge problem when the electricity goes out. Unless you have a well with independent power, you will die of thirst. In that case, a swimming pool may buy you a week.
Phoenix will be apocalyptic when the power goes out.
Yep, absolutely. The major avenues of current distribution – with satellite tracking and drones over the roads. Great pretext for total lock-down.
Yep, been there, seen that; police guarding the Walmart after a hurricane. Just think about it when its post-hurricane ALL OVER THE WORLD! And no one is coming to help you. Skills, skills, skills, are so much more important than gold and silver.
Pamela … I hope your farm is more then 600 feet above sea level and at least 100 miles from a big city!!
Thanks Greg awesome interview!
Great Interview Greg,
Jim Sinclair, along with James Rickards both point to the possibility of a rude awakening coming for the EU on December 4th, as all eyes will be on Italy, France and Austria. Insiders say this event could be bigger than Brexit and the Trump election victory combined, as this could signal the Euro’s end.
On the US pensions front–the city of Dallas has called for an end to its lump sum pension pay outs!
As an aside, I reside out west-in what some call “the Great American Redoubt”, here I do business with a small local credit union–normally I am asked for my DOB or the last four of my SS# for personal identification. No longer, the other day I discovered this financial institution had just upgraded its customer accounting system that includes a photo along with all acquired state information. They say India (in cooperation with the UN) has acquired an impressive number of personal identifiers(biometrics) on its citizenry–from what I saw with the credit union’s new system we can’t be too far behind.
The only thing is the market should have priced in a ‘no’ result and Renzi’s failure as the polls indicate a big defeat.
If we had real polls or markets I would concur with you. Cracks in the grand illusion that is this economy will only grow in number. The end will be nigh when the ” controls” magically begin to appear or are announced by a finger-wagging politicians. Then you can sit back, an see what ‘hard times productions’ has in store for your neighborhood.
Ref. Dallas, there was a headline story on ZH about this that was taken off and i can no longer locate. Odd… Chip
I own gold and silver and my gut tells me Mr Sinclair is correct but Ive got to be honest the waiting is murder Ive also got cash just in case Harry Dent is correct At my age being hedged is the only option Real estate in most places around the world is in bubble territory and not adviseable at this point in my opinion
“The waiting is murder.” Took the words right out of my mouth.
Fredrick when the dollars purchasing power drops to 1/100th of a cent (and even if Harry Dent is correct about gold going to $300 dollars per ounce) … gold will still have a purchasing power value of $3 million dollars per ounce!!!
Even if Dent is right and we see $300 gold, eventually the PM’s will go to true value. We may not live until that moment, but our heirs will. There’s no down side to buying and keeping PM’s if you keep them over the very long term.
“Diversification” in today’s world, where we are in uncharted territory, is to have some PM’s in plural private vaults, cash, a food/water hoard, and fully-owned real estate. This is long-term, forward thinking. Those who are into trading PM’s for a quick profit are the ones that can’t sleep at night.
Bracing for impact.
The lead character in *Slum Dog Millionaire was, as was Modi, also a “Chai-wallah”…not exactly a prestigious position. I would guess being a chai-wallah, would more than likely give one a skewed insight after serving as a lowly, often sexually abused, boy-servant. Hence Modi’s thoughtless decision making.
The Insider system surely does not like what President-elect Trump stands for, like JS says, look for them to go all-out now to *get theirs* which could bring the house down. A lack of registered inventory, against those standing for delivery, will expedite that…we shall see.
Greg…………Nice……as always my friend…..bringing the best and the most brightest to the screen and in a brave, bold attempt to shine the light of truth among the blistering babblers from the house of flexible ethics who have contaminated the vast highlands of the conscience with the deplorable methods of deception of black letters on white acres….addicted to the lame stream media WHORE/ACTORS (ie all member of the American federation of radio and television actors AFTRA i.e. The Union) to the outright theft of intellect by the digital shepherds who peddle their mush of propaganda on the unsuspecting sheeple who tune in every night at five…….and Mr. Sinclair is an angel of no equal…..be well……Keep up the Awesome work…..sincerely somas wodi Anisahoni
Excellent interview ! Mr. Sinclair puts the ‘mirror test’ to the ‘virtual market’… No breath or soul there! The biggest secret is when two opposing kings mutually agree to allow each to ‘terrorize’ the other’s minion enough to create fear to keep the people beholding to their ‘protection’ ! Thus the one bird – one body with two wings and two heads… That is why a war between the governments and owners of MSM for perception and illusion, control over the education of the people, over access to knowledge…is being waged against the alternative NEWS sources so fiercely, tantamount to a perceived mutiny! That is why Mr. Sinclair’s closing remark was so appropriate, adding he too and many other of your guests with you Greg…are to be included as heroes wishing to bring the spirit of truth, ethics and morality back from the dead! Gold will retain it’s place by it’s scarcity, weight -measure, and labor. Honest money has an un-corruptible comparison that money out of thin air can never, should never have had! Which is so only by slight of hand…first backed, then not… coins there minted… with…then lesser amounts…then not… a subtle abduction conspired by the devious hearted…no less dangerous than a warm python on a cold nights prowl…
Money once worth something… now has NO value…but the belief in what is it NOT… IS !
I’m sure you have perused this – but because of the nature: HR 6393 ought to be reviewed.
If Lyndon Baines Johnson, was alive today and working within the Clinton machine, he may just say
“These Whiteys, they’re getting pretty uppity these days and that’s a problem for us since they’ve got something they never had before and that’s ‘The Donald’ to back up their uppityness.
Now, we’ve got to do something about this, we’ve got to give them a financial collapse, just enough to quiet them down, not enough to kill them………..I’ll have them whiteys voting Democratic for the next two hundred years”.
Jim Sinclair makes a good point that history is only useful up to a certain point. We live in unprecedented times, so be prepared for unprecedented outcomes which may be impossible to predict.
Technology, is beginning to seem to NOT be working, generally, for the benefit of humanity. Orwellian dimensions are imposing themselves over a diametric world.
Jim Sinclair: Your savings account is not silver, although it will outperform gold, your savings account is going to be gold.
Greg, I wish you had called Jim on this statement and asked for an explanation.
What do you suppose he means by this? Why is silver not recommended for a savings account?
Jim is right, Greg, you ARE a hero. MSM is going to be reshaped by guys like you.
Keep up the good work!!
I concur… Chip
Greg – A good listen for your viewers…Brandon Smith- https://youtu.be/UYbRmVXZpnA
Mid way to the crash…markets the last to go but coming soon…all they have to do is stop the stimulus…propping UP the market …and it will fall…is all left for them to do!
He states that the Globalist goal as pointed to in the Economist magazine is a world currency by 2018 so likely between now and then? SDR is a only a bridge to a single world currency system. U.S. to be hit the hardest as far as loss of standard of living…prediction is dire in his opinion.
Paul Craig Roberts said the system should have failed in 2011 but the power of infinite money as Jim said, now manipulates all markets.The elites don’t intend for this to go on for years as they would have not brought in “bail in” or as now, trying to eliminate cash .This has all been planned with the IMF Special Drawing rights to surpass all our currencies in 2018 as published in their Economist Magazine in 1988.
For us to accept a new money scam, they must first collapse their present scam because they will present themselves as being our saviour.
How long can this go on ? It all depends upon our confidence and when the elites think the time is right to pull the pin. They first must collapse confidence in the metals to scare people into selling. In real terms of asset inflation and increases in the money supply and debt ,gold is cheaper now than before the GFC. Gold was $800 in 2007 and is now $ 1180. The world economy is many times more unstable than 2008 with this money printing and the weak kneed are falling for the trap of selling their metals and moving into shares. In the meanwhile, the potential energy in metals just keeps building .
I don’t believe that Erdogan wants to remove Assad. I think he more likely wants a justification to place his military within Syria in order to target Kurds. Erdogan has surely burnt his bridges with Nato after defrosting relations with Russia and the coup attempt. He has also called for Turkish citizens to reject the dollar. Erdogan has seen which way the wind is blowing and decided to pivot Turkey eastwards towards the silk road.
The American inspired western sanctions against Russia have shown that Turkey’s economy and much of Eastern Europe’s are dependent on Russia to a large extent. These economies have been hurt by retaliatory sanctions imposed by Russia and led to the election of pro-Russian leaders in Bulgaria and Moldova.
Astute and accurate. No doubt playing hard and fast is the flavor of the day.
Sceptred Isle: Just like the UN is of no value anymore, NATO is in the process of becoming of no value. So why should Erdogan be concerned
Wonderful interview! Thank you, Jim and Greg.
If the elites have their way, their new economic system would be a virtual one, too, with a digital currency that only they controlled. One of the hidden goals of Agenda 2030 is the elimination of ALL national sovereignty and it has been my feeling that the elites are trying to instigate war with Russia and China so they would have an excuse to exterminate their opposition to the elites’ rule over the whole world.
If the elites do achieve their objective, gold will only have the value they say it does and could only be sold for the virtual units that they controlled, so its value would also be a fiction. It would only be a commodity whose value would be set by the elites if they succeed in achieving their goals of global control.
I was very glad to hear Jim use the term “unprecedented” so often. This is why I have placed no faith in predictions made by people who rely on historical cycles to make their predictions and why their predictions are failing to come to pass now. History is not repeating anymore. Even Biblical cycles are no longer operative. The world they were addressing doesn’t exist any longer, either.
The so-called disruptive technologies are also doing away with the entire system upon which capitalism depends. We are living in extraordinary times, and existing systems are not able to cope with the rapidity with which changes are occurring. Instability is increasing, and the outcome is yet unknown. The only thing that is certain is that it won’t be “more of the same” or “business as usual,” except as defined by the systems that have not yet come into being. It’s not going to be an easy birth.
The end of the cycle is when chaos and entropy are at their height. These destructive forces are nature’s way of deconstructing old and outdated systems and providing the fertile ground from which the new will emerge. It is a time of great uncertainty as the rudiments of a new system struggles to form amidst the unlimited potential. This is a dangerous and thrilling point in the cycle.
War may not be the option; but the ploy. Confrontation, infiltration, corruption, and co-option may be the real plan. I think of it as a new Round Table – where the members will have many hidden knives.
Virtually all money is virtual right now … virtual money has an inherent flaw … it is susceptible to hacking by men or to an EMP from the Sun of God … so get some of God’s money (gold) in physical form that is impervious to EMP or hacking by thieves!!!
Thankfully Britain didn’t give up the pound and accept the Euro as its currency. Handing over control to a foreign central bank is the surest way of surrendering sovereignty of the nation state. It was an insurmountable problem for Greece when the ECB threatened to cut off liquidity to its banks unless it complied with the demands of the EU.
Silly me – I thought the Bank of England WAS THE Central Bank; or is that the “City of London”? Anything “bank” to me is just smoke and mirrors, for interconnectedness.
Fantastic interview Greg. JS is right you’re both heroes!
The new system is here. It’s kleptocracy.
Jim’s site used to be so reliable and informative until he let Bill Holter take over. I was afraid Jim had dementia when he made that choice. Good to hear the Sinclair of old. Thanks for having him.
Thanks for another great interview with a legendary gold investor. Jim briefly mentioned silver “outperforming” gold, but I got the sense that he is not a fan of silver, but rather, believes in holding gold. Is that because he has the financial muscle to own gold in large stacks, but would need a warehouse to convert his assets to silver? Or, does he see silver playing a different role than gold in the new system once fiat implodes? TIA,
When things go parabolic … people will initially go to gold … but when they eventually find that there is less “available silver” in the world then “available gold” … silver will outperform gold! … make sure you own “physical silver and gold” … virtual silver and gold are fatally flawed and can be take from you by outright theft, hacking or EMP!!
Yeah, thats the Mike Maloney slogan and yes it would be that way if it would but this statement doesn’t take into account that the elite wants to go cashless asap. This is not only to avoid bank runs but also to gain total control. If you can buy and sell only with digital currency you are pretty much toast with your PMs. Should you try to sell it it would have to be chonverted into digital currency so they will know exacly how much PMs you attempt to change. They would most likely send the IRS after you to find out where the PM is coming from and whether or not you paid your tax at the time you purchsed the PMs. Should you be unable to prove that, your account could be frozen and you may be fined additionally. So now you may argue: ” You will still be able to use your PM for barter”. Maybe yes but remember that the receiver of your PM will have the same issue when he wants to convert to digital, so the interest for anyone to trade goods for PMs might be significantly less than ecpected.
Max … say an EMP from the sun (or man made one occurs) … all unshielded data will be lost … bank accounts, government records, the IRS, etc. will have “zero information” on you … your digital money will be toast … and the only money with certain value will be pocket change and precious metals!
I tell you Greg, from all the BS in this world I have naturally become a critic of all MSM news, global opinions and alternative news sites. This interview was no different than the other Jim interviews but I am hoping that the next interview with Jim you could ask him more on his family history especially regarding his father Bertram J. Seligman. I know that type of questioning especially if you did your own investigative journalism on the topic would be more informative to your listeners than all the previous Jim interviews put together.
He is right. What Modi has done in India is criminal. Same thing could be said about Venezuela. I have had a number of conversations with various people and was surprised when they said they thought the stock market was fragile and that US debt was too high. People are happy that Trump was elected but they also realize that there is only so much he can do. Some of us remember runaway inflation and the interest rates from the 1980s. many younger people do not or only as stories told by their grandparents.
He is right about China a Russia. Both of those countries have been increasing their state gold holdings. Russia has been able to minimize their level of debt while China has ramped up their debt to levels that are quite high (at least the is my understanding).
I hear Mr. Sinclair’s frustration over the world moving to virtual markets. It is my understanding that one of the former Federal Reserve Chairs, Alan Greenspan, was instrumental in transitioning the US economy, and markets, to the digital realm. Which is interesting when you look at Greenspan’s early work and his views on gold.
I don’t talk about it much here but I have been involved in the virtual world via PC gaming. It has been a hobby of mine for a number of years. I was former signal corps so building and spec’ing out a custom PC was a fun project and I enjoy doing mods and various upgrades. Most of the motherboards make it easy to simply plug-and-play when you add a new item (as long as that item is compatible, of course).
Anyhow, one of the games I play has a virtual market, inside the game. There is also a cash market both inside and outside of the game. Inside the game 100 coppers equal 1 silver and 1000 silvers equal 1 gold. You can also purchase an ingame virtual currency with real dollars (or any other currency, this game is played around the world) and you can further trade the items you buy with real extant currency for items you want inside the game. (The game I play is LOTRO: lord of the rings online: http://www.lotro.com ) The game also created secondary markets (other games have caused a similar type of market to spring up) where people would mine silver or gold and sell it, at a discount, for real cash / currency, primarily using Pay Pal or another credit card system. These are live systems. I have both alpha and beta tested LOTRO, as well, though not recently.
Anyhow, I understand Mr. Sinclair’s frustration at seeing the markets become virtual. I can only imagine my frustration when I am 75 years old at what havoc has been caused by the younglings upon my world!
The interesting part, for me, has been observing the ingame market over a number of years (since 2009 when I opened my account). That market is incredible! It is alive and vibrant and there are players that focus solely on the ingame market and auction house. That is why they play the game! I enjoy the costumes and the story line and the graphics as well as the large virtual landscape. LOTRO was one of the first games to attempt mounted combat. With such a large landscape, and a dedicated player base, that made such attempts possible.
Anyhow I brought up my gaming interest because it involves virtual reality and computers. I am in my fifties. I remember only having a land line telephone, 3 network channels on TV, etc. Everything has changed so much. Can we imagine the world that will be created? I have attempted to discern that future world by reading science fiction and dystopic novels.
I also think that Bitcoin, or other forms of virtual currency, will become useful. Basically most of us already use virtual currency via our debit or credit cards right now. I see block chain technology as part of the future and I don’t think that will be a bad thing. I also like PMs. However, governments can ban them. Or tax them. Or tax them heavily with a windfall tax upon sale. A taxable event does not happen until the sale of a PM so I have the perception of control with regard to when I choose to sell my PM. Perhaps trading markets will arise as a way to make large transactions happen and as a way to avoid excessive taxation. People are amazing. People will survive and find a way to endure or thrive, no matter the conditions.
Another excellent interview, Mr. Hunter! Thank you!
I can’t see anything “virtual” as working-out well. Any singularity of exchange means a monopoly and ultimate control. Also virtual ‘money’ has no basis in reality to be tied to anything not to be copied or hacked. The risks of draconian taxation on PMs is always possible: but this is the fundamental reason for Black Markets – when legal options are outlawed.
Perhaps China wil introduce a CHL (like DHL) for direct redeeming of gold and silver into currency – WITHOUT taxation penalties?
CH: we just communicated in the virtual world via a computing device. News, whether you read it on a site like this or watch it on Utube, or watch it via some type of service is also virtual. Do actually buy a real paper these days? Why? Papers are dirty. I always hated the way the ink got on my fingers.
As I said above, look at Alan Greenspan’s early work and interests. One involved gold and the other involved his early work with computers.
I think the hacking hysteria has been overblown. I make online bill payments through my local bank. Has my account ever been hacked? No. Could it be hacked? Yes. Anything is possible.
Warner Brothers, Turbine, and others have been able to make quite a lot of real money selling virtual currency. I am not suprised that some people are not familiar with this. So have some players! Good for them! LOTRO is not the only game with a large secondary currency market: Second Life became famous when people became real life millionaires due to their ingame life. I don’t play Second Life although I looked at it, briefly. WOW and Minecraft have similar secondary markets where people buy and sell virtual currency for real currency.
Certainly infrastructure can break down. I am the first to say that that a few atmospheric EMPs are the easiest way to destroy the US! For a period of time, not forever. Which is why I also own physcial metals. However, to simply say that is the only egg in my investment basket would be foolish. Materiality matters. I agree. However, I also have extended experience dealing with electronic or virtual markets and I don’t see them changing anytime soon! I love being able to buy silver (and gold) using my various devices and the Internet! It is amazing. I place an order and I get the item. If I don’ t get the item I can write a review and complain about the item or the service. Same for online bill pay. I write a few checks a year. All of my bills are paid mostly through my bank via online bill pay. It is a great system. It was a huge advantage when I was in the hospital for three weeks. It didn’t matter if I was sick or not, my mortgage and other bills were paid. What a blessing to not have to worry about writing a check and sending it in the mail!
I enjoy online shopping. I love my little Kindle paperwhite reader where I can instantly buy, and download, almost any book in the world. I find it convenient. I like that I can type this comment, hit “post comment” and my words will be read by anyone as long as they have a device and Internet access. Do I have real paper books? Yes, I do. I am a collector of special editions and science fiction first editions and signed science fiction first editions (which is a rather small market but one I enjoy!)
It is amusing to encounter people on an Internet new site that are basically Luddites. I love techonology. I also understand that it is imperfect. And flawed. Anything on Earth is flawed and imperfect? So? I don’t use the “perfect” word in my real life. Why? Because perfection on Earth is not attainable. It is a lie and an illusion. The solution? Humans do what we have always done: we use the tools at hand and do our best. We make it work. And we tolerate imperfection in other humans, and our family, (and ourselves), because we love them and we want them to love us in return as flawed and imperfect beings.
“We make it work. And we tolerate imperfection in other humans, and our family, (and ourselves), because we love them and we want them to love us in return as flawed and imperfect beings.”
That is why I choose to align with the Christian than the Buddhist. I could be wrong but I think Buddhist are way too passive regarding works. They tolerate imperfection because they believe everything on earth are nothing but an illusion including ones’ bodies.
They love others to achieve a higher plain (Havana), not expecting anything else in return since everything on earth is nothing but dust or a mere bag of shells. I think that makes them selfish, they give their love mainly to reach the ultimate illusion or virtue reality – Havana. I mean how can one’s truly love dust or a bag of shells.
The irony for me is that I’m drawn toward the two most peaceful religions spiritually but I’m as capable to violence as the most despicable head chopping terrorists in reality. I just can’t see myself turning my other cheek unless Jesus is physically standing right next to me.
Nirvana! You’ve been reading too much about Fidel!
It must be early stage of senile dementia lol. I keep getting MRI and MRE mix up too.
Thank you for your reply. From a certain perspective – being a Luddite is not far off the mark. I understand and use much of the technology and bill-pay utilities, shop on-line, telephone long distance as you do. And making things work through and by imperfect means is pretty much spot on.
I am a little more than a little skeptical of being removed from certain, fixed principles. Despite being familiar and perhaps competent in a wide range of technologies: I would, if I could : live like the Amish. This, because to remove oneself from sweat-of-the-brow physical labor – for me is a mistake. It is not a tie-in to exercise; but a close and constant association of what production and the value of human labor should be. Getting away from a baseline commonality can produce tremendous disparity. If I make 40Gs from farming, but the wholesaler makes 60Gs off of me sitting at a desk. It goes on till half the world is behind a desk, or more.
The other thing is “Life imitating Art”. Technology has produced an Input Overload – with ever increased expressions of sexuality: which isn’t working out right. And by natural comparisons – people are being influenced away from, let’s say – simpler and practical lifestyles to more ostentatious ones? A line from a movie: “It’s not lying: it’s acting!” The influence is measurable; overlooked; and usually completely denied. Kids don’t know how to ‘play’ anymore: they TEXT!
Technology removes us from what I consider a healthier kind of lifestyle, into a more complex and unreal one. It’s like government was supposed to be close to home, and States Rights above the Federal bureaucracy . Instead we have the Federal government running ruff-shod over everything; which I take as a similar type of removal from a good, original context. In sum – I can see the advances and the necessity to work with them: but weighing the whole in the balance – I’m pretty sure we are worse-off than better.
Thanks again for your good reply. And Merry Christmas.
Charles H: Life is complicated! Technology makes life even more complicated. However, I remember trying to call home when I was stationed in West Germany. I had to have a pocket full of coin Deutsche mark coins to feed into the pay phone. There were no cell phones! Making an international call home was expensive. Writing a letter home to loved ones, and waiting for one in return, took weeks. My how times have changed!
I still write letters. In a way, the writing style I use in this forum goes back to having a family that was physcially split due to geography: aunt and cousins and other family on one coast, my family and siblings on the other coast and letters were the most affordable way to communicate at that time. We could always afford some paper, envelopes, and a stamp! I am grateful that my mother and grandmother were avid letter writers. They were plain in their writing. Everyone was busy and stopping to write a letter made you think about what you were going to say and how what you said would impact the person once they received your letter. (I usually always regret not waiting longer before I hit the Enter key).
Merry Christmas to you, Charles!
It would appear to me that the next currency will be digital like Bitcoin.
The Central Banks will have control of the algorithm and the blockchain.
The Central Banks and governments will know every transaction from
a garage sale to a Corporate acquisition.
Smart phones will be then mandatory for all transactions and the
smart phones will log your location 24/7/365.
The central Banks will not give up control without a battle.
If you are correct I see HUGE black markets emerging in that scenario… Chip
Yet, We the People, after over 100 years of servitude to the Federal Reserve Corporation Central Bank continue to not take any serious steps to eliminate the very thing that causes every problem for America. It can only make one scratch their head in wonder.
Bitcoin is fatally flawed … solution … simply buy and bury physical gold and silver coins … make your own gold and silver “mine” … that is already pre-refined … is unencumbered .. and is secret!!!
Anthony, I agree. The kinks are still being worked out with regard to block chain technology but certainly banks, and central banks, are looking into this system and not as a joke, either.
Your other assertions are absurd. As India, and Modi, are finding out.
Central governments’ Bitcoin will work only if Russia and China come on board. If BRICS decided to have a free asset/gold back currency market with the supports from other nations in Africa and S.E. Asia, citizens will escape from the eventual tyranny of negative interest rates in America and Europe to the BRICS nations.
Instead of the iron curtain in the former Soviet Unions, we will probably erect a Fake News Curtain to bar any escape.
Listening to Sinclair is like going to church. It keeps you true to course.
knowledge of economics, can it strengthen your trust in the Bible?
Definitely. For example, the Law code that God gave to ancient Israel addressed economic problems that still challenge economists today. The Law required the Israelites to set aside produce for the poor (a form of taxation and insurance), grant the needy interest-free loans (ensure access to credit), and restore hereditary lands to their original owners every 50 years (protect property rights). (Leviticus 19:9, 10; 25:10, 35-37; Deuteronomy 24:19-21) These and other economic provisions helped people in three important ways: They (1) supported them through financial reversals, (2) helped them recover from long-term poverty, and (3) alleviated economic inequality—and all of that more than 3,000 years before the birth of economics as a science!
The Bible also emphasizes attitudes and behaviors that promote economic security. For example, it teaches people to be honest, trustworthy, compassionate, and generous. (Deuteronomy 15:7-11; 25:15; Psalm 15) Interestingly, following the global financial crisis, some business schools and organizations began urging business and finance professionals to pledge to uphold certain ethical standards.
The Bible’s moral standards, in my opinion, far surpass those business creeds.
Living by practical wisdom and Bible principles, will definitely help our world be more balanced. Studying the Bible was the best “investment” I ever made.
Kudlow 12-3-16 Carrier deal in Indiana: good or bad? New sheriff in town? Trade policy to help workers: Ed Conard
Carrier deal in Indiana: good or bad? New sheriff in town? Trade policy to help workers: Ed Conard Everyone wins w/ Trump’s across-the-board tax cuts. 78% go through biz. Top 1% earns 19% of income but pays 38% of taxes. Why punish success? Pence promises ambitious agenda. End ACA, immigration, SCOTUS appointment, tax reform, military build-up. Wm F Buckley Jr best eulogies: “A Torch Kept Lit” by James Rosen. Jobs report OK. Fed hikes in December. Trump appoints 5 Fed governors: monetary rule? Richard Clarida weighs in. Stocks slip. Bond rates rise. Profits better. Trump growth vision. Everything changes?
The two best ways to boost an old school economy GDP, incomes and tax revenue.
However, the U.S. government in its current form can boost a (phony) recovery by simply spend money into the economy by marking up bank accounts, it does not fund itself with taxes or with bonds which are just voluntary leftovers from the gold standard age.
Ones must understand the actual workings of the U.S. Treasury and Federal Reserve which enable the government to simply spend money into the economy via financial trickeries. Debts don’t matter according to the Modern Monetary Theory because MMT is the euphemism for government sanctioned Ponzi Scheme.
U.S. Treasury and Federal Reserve are responsible for the greatest ever Ponzi Scheme in the world. We no longer need productivities, taxes or bonds to fund our entitlements. All we need are new suckers to prop up the Ponzi. Hence, TPP is supported by establishment from both parties who understand what Modern Monetary Theory really means.
The problem with the Ponzi is that it needs to expand continuously or it will collapse. The Chinese learned what the MMT is really about in 2008 and they have made preparation to detach – CIPS, AIIB, SGE… Their primary hindrance is our military which Obama’s “PIVOT” to Asia is all about. – http://bit.ly/2gzY6Gi
(1) expand the workforce – Trump needs to revamp the entire education system from junior high to graduate school – no more safe spaces and any crybaby “no child left behind” entitled non-sense. He also needs to bring back vocational schools to train the next generation making robotic.
(2) increase productivity – Trump has to enlighten the unions, like Reagan did, on what matters they should focus on. Irresponsible behaviors such as showing up drunk and high on drugs should not be protected by the union officials no matter the seniority – remember Chrysler. Unions should only protect members who are productive and responsible. Strike should limited to improve working conditions only. Negotiation for wages should be unnecessary if wages would go up/down automatically with companies’ P/E ratios.
Expansion of the workforce and increased productivity are only the first two steps which we must achieve before we can tackle the Ponzi dollar. I don’t know if Trump can do all that in 4 years before the PrimaDonnas leftists turn the country upside down to stay on the gravy train running on Ponzi dollar.
The Ben Armstrong Show;
Trump is already proving the left wrong!
Neither of these jokers has to learn ANYTHING.
Its YOU, ME, and the rest of the sheeple that have to wake up and recognize the wolves when we see’em.
Marxism 101: How Capitalism is Killing Itself with Dr. Richard Wolff
Capitalism is finished … and so is the MSM … look at how they are all over Trump for taking a congratulatory call from the president of Taiwan … schizophrenically claiming Trump is like a bull in a China shop that could start a war with China … when “their Hillary” talking of war with Russia was perfectly OK! … these MSM loony tunes are “exposing themselves” just like all the other Hillary supporters who “get naked” in the streets of America … what is with this “naked thing”?? … did Monsanto genetically engineer and put something in our food that makes humans want to show their asses?? … Miley, Madonna, Stern who get a kick out of mooning us with their “naked” perversion should be sent to colonize the Moon and Mars … the only problem is that the aliens already there don’t want deviates crossing their borders (like Trump) … or perhaps the Annunaki who are coming back to harvest us for protein (after telling us to proliferate and multiply when they left last time) told Monsanto to create this “nudity gene” so as to make their harvest easier (imagine the cost if our farmers had to remove clothing off cows before slaughter) … but the good news is “only the naked Hillary supporters” will be the ones vacuumed up by the grim reapers (who come to Earth every 3600 years) to restock their home planet with food!
China was built by the globalists so they could rule the world … China was given our factories our minerals our ports and even Hollywood … but the globalists were betrayed by China who have their own agenda … this is why America under Trump must also have its own agenda … https://www.youtube.com/watch?v=nLk7H7jfnEM
They were unwise to think a country as large and ancient as China’s could be controlled by the globalists indefinitely.
one of the greatest speeches,
improvise adapt overcome
As Sinclair says “all currencies (even the roaring dollar) are falling in terms of being a storehouse of value” … because most people don’t realize the dollars artificial strength “is against other worthless fiat paper”!!! … it is so true as Sinclair says “when it’s all said and done … there will be a catastrophic big bang” (in the minds of people living in a dream world) … and the only thing left with purchasing power … will be your personal (physical) gold and silver savings account (where silver will out perform gold)!!
In the beginning God said “let their be light” … and God’s light from all his sons (suns) created every physical element in our universe … most of God’s elements can be mutated and its properties changed … but on one element … God put the mark of the Lord “L” unto it … and called it GoLd … and said “This element Gold shall be used as money in my name … to eliminate evil and corruption from the world” … I leave it to Biblical scholars to re-find God’s spoken words above in historical religious texts (as they were obviously left out of the Bible by the fiat money changers)!!!
Good point. The other currencies that the dollar is measured against are the Euro (very existence of which is in jeopardy if Eurozone breaks up), the pound (suffering Brexit blues), and the Yen (subject to Abenomic’s hyperinflation).
The one fat shark out there … that is experiencing starvation from a lack of capital markets … has morphed into getting its food from drugs, sex and pay for play schemes … this is why it is so essential for Trump to immediately work with Russia to burn all the heroin poppy fields in Afghanistan … so we can kill this evil fat shark … once and for all!!!
We must live our lives as a ray of light … not of darkness … when we look into the night sky and see the light from a star a hundred million light years away it leaves an impression in our mind that it once existed (even if that star may have died millions of years ago) and so “it still exists” in our mind … similarly … if we live our lives as light … we will always exist in God’s mind (even when we pass) … unlike those who never shined at all and lived their entire lives in darkness!!
Then, even as now, the Jews murder to retain their control over the issuing of currency.
Then, even as now, someone will toss out a blanket accusation – meant as defamation agains the Jews. Such generalization is both inaccurate and weak; besides being veiled anti-Semitic. What hatred possesses someone to spew forth such vitriol? Who is NOT trying to save their currency in the race to the bottom? China is full of Jews?
You got your dig:but I’ll never read you again. Was it worth it?
Agreed, precious metals appear to be the ultimate savings account in this rigged financial interventionist environment. But only with the caveat that the government in charge will allow the peasants to legally transact in precious metal. That question yet remains to be answered.
“But only with the caveat that the government in charge will allow the peasants to legally transact in precious metal.”
The question has already been answered with Trump as the POTUS. Democrats are the ones who have no respect for property rights and enthuse in redistribution. Gold is safe if the reset occurred in his term.
Breaking News: Jill Stein drops PA recount effort … http://www.zerohedge.com/news/2016-12-03/steins-green-party-drops-pennsylvania-recount-blames-lacks funds
So the threat to Trump from the DNC recount effort has failed … the only thing remaining is their electoral college ploy to “Death Threat” Hillary into office!!!
I don’t think the electoral college ploy has a chance either. Congress does not have to accept the results from each state if they feel they’ve been done unfairly… JMO Chip
Tin Foil Hat, I hope you’re right but if the government loses control of the metal price action capital controls on metal remain in play. I don’t look for confiscation just restrictions on commerce in metal by the public if the government is no longer able to control the price of metal. The rising price of metal is the “canary in the coal mine” for problems with the dollar. So far Mr. Trump has appointed Goldman Sax people to the financial positions which tells me its business as usual – same as the current administration from a financial and economic standpoint.
Greg, Imam speaks of coming Turkish civil war and warns all Muslims to buy gold and silver before the coming world bank collapse and to reject planned digital currency plans!
“Thank you, and you’re a hero.” I like how Jim Sinclair got the last word in. Give up, Greg, and accept it gracefully!
Note to those yelling about doomsday predictions never coming true: These predictions are basically worst case scenarios. There are other possibilities with varying degrees of probability. (This is why investment advice is to diversify. Jim Rickards still says 10-20% of portfolio in gold. ) If you prepare for the worst case, then you should be set to deal with anything else that happens along the way. For example, if you stockpile food in your pantry, you’ll be in good shape for snowstorms and unemployment intervals as well as the hyperinflation scenario.
Watch the path of Venezuela. If there is no sudden collapse with a black swan event we’ll be on a longer grind into the same situation they are facing today IMO… Chip
Just look at our healthcare as one example. I have friends who’ve seen their premiums go up to $1500 per month with $3500 deductibles (each). A lot of people in this situation cannot afford the deductibles and are avoiding going to the doctor for anything short of an outright emergency… Chip
Such is an un-Constitutional drawing-off of available resources – being the Medical Industry and Insurance companies using the government to guarantee profit. Saving those premiums could add up to major operation paid in cash after a few years. Catastrophic Insurance for Cancer should be cheap – except GMO foods and a plethora of poisons we are exposed to and consume now. Mankind is being made merchandise of – sort of a pirate’s creed.
Charles. I think GMO food is a way for multinational companies to control intellectual property rights on our food. You cannot patent anything natural.
Somewhere I was told or read that 95% of commercial production Soy was Monsanto GMO. You’re right – it’s to corner the Market and insure profits forever. All they need do is branch-ou into hospitals and medical equipment.
So, when the shark drops dead, do I eat my silver? Cannot afford gold now unless I quit eating, which makes for a dead shark.
His one uplifting comment was regarding the MSM. I would like to see serious adults telling the truth finally. That would be one consolation for all of this. I may not like that truth (like this interview) but at least I can dispense with wishful thinking and denial.
You are even less likely to be able to eat bonds and cash trapped inside a bank.
IF your silver is “.9999”, or four-nines: you can produce colloidal silver; which can be a great health help. But don’t eat too much – some people have turned blue doing it! I’m about dead myself; it’s just my wife just hasn’t figured it out yet! The glass just has to be half-full…
Store your water with a silver coin in the bottle … it will keep it fresh … as silver has germ killing antibiotic properties … but the small amount of silver you eat in this way will not affect the coins value when you need to sell it for food to someone who needs silver to make his water fit to drink!
That ridiculous arguement that you cant EAT gold and silver No you cant but you can use it as money to purchase food and other necessities oflife Im not so sure people are going to want fiat dollars or Euros during such a scenario so having physical precious metals you may very well be way ahead of the sheeple
Everything is lovely
When you start to roam;
The birds are singin’, the day that you stray,
But later, when you are further away,
Things won’t seem so lovely
When you’re all alone;
Here’s what you’ll keep saying
When you’re far from home:
The sun shines east, the sun shines west,
I know where the sun shines best
My little mammy,
My heartstrings are tangled around Alabammy.
Sorry that I made you wait.
Hope and trust that I’m not late, oh oh oh
My little Mammy,
I’d walk a million miles
For one of your smiles,
My Mammy! Oh oh oh
My little Mammy.
The sun shines east, the sun shines west,
I know where, the sun shines best!
It’s on my Mammy I’m talkin’ about, nobody else’s!
My little Mammy,
My heartstrings are tangled around Alabammy.
Mammy, Mammy, I’m comin’,
I’m so sorry that I made you wait!
Mammy, Mammy, I’m comin’!
Oh God, I hope I’m not late!
Look at me, Mammy! Don’t you know me?
I’m your little baby!
I’d walk a million miles
For one of your smiles,
Sinclair was great doing the “White Shoeboy Shuffle” (courtesy Gerald Celente).
As for his “forecasts”….just ask about ANY of the shareholders who owned his piece of shit company “Tanzanian Royality”. They will do you EVERYTHING you need to know about Mr. Sinclair and his “forecasting” ability.
When wormwood grows near and we get a pole shift … the sun will shine east, the sun will shine west, the sun will shine north and the sun will shine south!
Jolson had a one of a kind voice;
Jolson sings April Showers & My Mammy
What a trip the 1920’s would be! Or 60’s!
Theres a guy on youtube named David Seaman who is doing great work on gold and silver as well as this crazy “Pizzagate” insanity
We should order a seamen, menstrual blood, mothers milk mozzarella pizza for Gina and her daddy to enjoy as they bash us USAwatchdoggers!
Paul,I have to say ,your are something else.We must read the same thing. Keep us posted ,you do make me laugh,especially when I need it. Raymond
Paul, after thinking of my reply i appoligize ,this type of thinking is playing into the hands of the evil one who is orchastrating this .Raymond
also,consider,just the slightest deviation from the straight and narrow path will eventually take us completely off coarse. let’s be more aware of our thoughts and actions while journeying this path of life.
May God help us to respond to the world rightly.
This site deserves better writing than this Paul… I will thank you to keep your bad taste to yourself.
RB and Charles … I know what I said is disgusting and repugnant to the good men and women reading here … and I’m sorry for that … but I was compelled to do it for righteousness sake … put the whole truth right in the face of the “Hillary lovers” (perhaps it may snap them out of their evil trance) … I’m not holding back … I want to show evil people explicitly what they are supporting (and trying to impose upon us) and that it is dastardly filthy and evil … beyond all compare!!
I still stand by my statement: this site deserves better. I don’t think you are going to snap anyone out of a trance. The word-choice being vulgar and low – brings you down to ‘their’ level. And “The Duck Rule” applies: if it walks like a duck, quacks like a duck… : it’s a duck. Liberals seeing this language here used, then can say that WD’ers are vulgar and offensive. It’s not just about the sensibilities of the fine women we have comment here: but in a small but verifiable way – everyone who comments here is dirtied or affected. Teaching is by example: and this is not the kind of example I think should appear on this site, in my opinion.
It will no surprise from viewers of USAWD when it comes.
“Happy Festivus” kind people.
Regardless of the year, these experts all say the same thing…debt payments will run out and we will be facing reality.
In my town, a rich guy has just built a super mall. That leaves 3 vacant or nearly vacant malls in a town that goes by in less than 10 minutes on the main drag at the speed limit.
His plan seems to be to put all the little Mom and Pop stores left out of business. His mall contains chain stores like hardware, in direct competition with existing stores. Like the fat shark, when it’s all eaten, then what? I refuse to shop there. But…the debt thing is already overtaking us. There are more houses for sale than I have ever seen, and I suspect several are in foreclosure.
We talk of holding metals, and I agree, but we do not talk about who we will be trading with. Will the fat shark get fatter? Once Mr Rich owns it all, and changes the town name to Richville, he will just be a small version of the Federal Government, in a way, setting prices, being rapacious with those who cannot pay.
Let us not deceive ourselves. The desperate people in power will stop at nothing to have more, more, more…unless we make decisions to stay out of their power and not give them any more, whether in a small town or in Washington.
We should all be out of debt. Then think when you spend…who benefits? The shark?
A little something for a Sunday (singer severely emaciated with end-stage cancer). Never too late to contribute to this life.
He’ll Be Back Donna,
You have his word on it
New Living Translation
I have the same hope in God that these men have, that he will raise both the righteous and the unrighteous. ◄ Acts 24:15 ►
So there’s hope for even us un’s . . . .
Outstanding interview and great information from Mr Sinclair. This is what has been in the back of my mind for years now and why it doesn’t really bother me that I dollar cost averaged between $900, $1800 and whatever it is now. Don’t count your PM’s in terms of dollars but in terms of weight. I like the analogy of sharks eating food and then themselves — one shark, one bank and an ancient relic. Outstanding.
As I recall from years back, one of the guests on KWN (and it may have been Jim Sinclair) said something to the effect that you’ll go to sleep with the price of gold at $1600 and wake up with the price at $3000. When the pressure cooker goes off whatever is happening will take place very quickly. If you don’t have it before that event, you won’t own it.
Other blogs have discussed a currency reset and debt forgiveness/jubilee. What that actually looks like on the ground is not clear. Someone wins and somebody else loses?… or is it all about perception and relative worth. Make some people think they’re doing well (losers) while the winners do a whole lot better. Will the winners even know they’re the winners? Dunno. Just hope no one starts throwing nukes…
What was that guy in India thinking or was the currency in India part of “the plan”? Don’t know, waiting for the final act in the play.
I really like dogs. Dogs don’t lie and most have a good sense of fairness. They’re also very good company. Sorry to say, but while I’ve had many human acquaintances, I’ve had more canine friends than human friends. That may speak more about me than the other humans. Maybe my standards for being a friend are too high…
Point being, people lie and are often unfair if it’s legal. Some don’t care about “legal”. Be careful once that pressure cooker goes off.
You know the Annunaki who supposedly manipulated our monkey genes to make us … may have created a better “people” by manipulating dog genes instead!!
But they may have actually did so … look at the stone figures of some of those Egyptian gods … didn’t they have dog heads?
Jim Sinclair is also a dog lover.
Jim Sinclair is absolutely spot on….YOU are a hero. Please keep up the great work.
Greg, I have read your site two or three times a week for a few years. Just wanted to tell you I appreciate the considerable effort that you put into a website like this. I don’t agree with a lot of the content but that’s why we have a First Amendment, right? So I’ll be moving on. It was great that the last thing I read on your website was by Jim Sinclair. Goodbye and good luck!
GFMS – Gold Field Mineral Service.
Publishes the “World Gold Report” and the “Silver Report”.
These are widely read reports and are widely believed to be true.
Leading investors to false conclusions.
Please read Koos Jansen’s latest in depth, fully researched article on GFMS.
I have believed for years that GFMS is guilty of manipulated information, by way of purposeful omission and fabricated data. This entity relies heavily upon the LBMA for funding.
I want to share my poem with you. It’s written to the liberals who now are suddenly outraged about Trump. The “Where were you?” is indeed not directed at you. 🙂
Keep up the good work- Elizabeth
Where were you?
Where were you when 2.5 million immigrants were deported
The number of people in U.S. prisons exploded
Our money in Ukraine installed Nazi forces
Where were you?
Where were you when legislation passed
for indefinite detention of Americans suspected of
vague ties to terrorism
Throw people in prison for life without trial
Gitmo still open.
Where were you?
Above the fray, all knowingly smug while
the number of homeless and struggling skyrocket
banker -market bail outs and national debt explodes
the amount of suffering and shame at all time highs
Trade agreement promises 75,000 jobs ; and we lose 95…
TPP allowed corporations to override our laws if they weren’t profitting
Big pharma writing un-affordable care
Where were you?
The pieces in place for life long discrimination
Kill lists, droning, water protectors, fracking, monsanto, surveillance
Now we have the orange hair, talking about grabbing pussies
Shaming women, immigrants, Muslims and minorities
Clear connection to the same corporate forces
And now you rise.
Thanks again. Fascinating analysis.
However – it stops short within the thrust of its intent by neglecting to consider the eventual and inevitable onset of negative interest rates in the United States. When this happens private gold coin holdings will almost certainly be proclaimed illegal to prevent “hoarding criminal wealth” outside the “government system”. Needless to say this strong probability severely complicates the concept of saving gold coinage to preserve wealth.
Any comments please……….
Secrecy is the answer … exactly the way the government won’t tell us what is in their trade deals!!
How many people do you know actually own physical metals?
Almost half of the population in America pay no federal tax, it’s likely they probably own no more than a few cheap 14K gold chains.
90% of the middle class live paycheck to paycheck just to keep up with the Jones. They spend on the pleasures and vanities now, not so much savings in traditional bank accounts, let alone PMs – most are happy and confident with their ever raising 401K.
I suspect most of the physical PMs are in the hands of the 1% whether than the upper middle class. When the reset occurs, 99% of the masses will not be able to get gold and the 99% of that 1% who have it are the banksters.
The banksters had to confiscate gold before the reset under FDR because 99% of the masses owned gold as the dollar was actually a gold certificate. It’s very unlikely that the banksters will confiscate gold from themselves in the coming reset.
T f h,
Some actually do; not like Mr. Sinclair though.
This is possible. I think higher taxes are more likely though as it is easier to implement. No financial asset will be safe. Any financial asset is liable to be taxed at a punitive rate. Anything in a bank is liable to be confiscated (shares held in pooled accounts, pension funds, money etc). Anything outside a bank of value is liable to be stolen.
Not really a surprise, given the works of George Soros.
The Kalergi Plan in action….
Read back in September that Yellen commented that giving the Fed permission to buy stocks (and corporate debt) could be a useful tool in the case of a downturn. This will probably come to pass when a significant market meltdown occurs. Amazing, a private institution that can conjure currency from nothing and buy stocks in real and not so real companies. Some of these equities will pay out dividends. Where will this money go? This is happening in Japan and Switzerland now (Japanese central bank owns more than half of the ETFs available in the country). I suppose if this happens in the US, the DOW, S&P will never fall in a meaningful manner after that. That’s not to say the economy will be fine, but the markets will be even more unreal after this happening.
And this is a GOOD thing, as Martha Stewart would say. Capitalism has been confused by the pea-brained economists and other pundits who don’t actually know the difference between their ass and a hole in the ground with free market enterprise for many decades now. Finally, we will see the death and burial of Crapitalism, and the return to fair trade between users.
Here’s the actual definition of Crapitalism. It’s the creation of more bookkeeping entries out of thin air (fraud) to cover the prior bookkeeping entries that were created out of thin air! It’s all a lie, a scam, a fraud, and when enough people wake up to that fact, they will leave the system alone and it will starve to death. Once you begin putting phony numbers on the books, you must put even more of them on to keep the lie going on for a little while longer. But those ledgers can contain only a certain amount of fraud before it collapses under the weight of its own lies!
If you allow and encourage the FED to buy stocks of companies with counterfeit money. They will then create a situation where they will have to, to save us. They will then own all the important companies and control all the jobs and we will all be slaves. Say goodbye to your guns in exchange for food.
The world is depending on America to show them the right way out of this. Not ending the FED and allowing them to get more powerful is “too stupid to be stupid”. Without the FED and government interventions, we would have many small recessions and this would prevent the huge bubbles and depressions.
Mr. Sinclair made a distinction about silver that it was not savings.
“Your savings account is not silver, although it will outperform gold, your savings account is going to be gold.”
My question would be:
1) why not?
2) And if not ~ what is it?
I see silver as gold and quit possibly to be more valuable than gold. I know the Chinese & Russians and even Iraq are acquiring gold and silver.
Will silver be used as money like ‘Silver Certificates’ were?
Well Mr. Sinclair has left me out on the limb with this one ~ i’m sure the answer is easy for him but me? Ha.
I listen to you guys and I need help with this one.
There is a very old addage;
Gold is the money of Kings.
Silver is the money of Gentlemen.
Barter is the money of Peasants.
Debt is the lot of Slaves.
Silver was used as money before gold.
It is called the poor man’s gold. Silver is still money.
The passage of time does not alter this historical fact.
Jim is correct, in that it’s price is more volatile than that of golds.
I am curious. How do you know that silver was used as money before gold?
Gold and silver are monetary metals which serve the purpose of (monetary) canaries in the (fiat currency) coal mine.
Silver shouldn’t be a monetary metal because of its industrial usage in the solar and electronic industry. However, as long as the current fiat system is still in existence, its price has to be suppressed with the gold price since silver is the canary in the (gold) coal mine.
Once gold regains its monetary role, silver will not follow and its price will behave more like palladium and platinum as an industrial metal.
Off Topic: Latest “recount” results… Trump netted +3 in Wisconson. Stein paid $3million for the recount. $3mil and Trump gains 3 votes. Brilliant!
So as everyone can see the recount proves votes were stolen from Trump not the other way around … but to pay a million dollars per vote to add to Trumps total … seems a bit wasteful to say the least!
I have read and understand most of the comments so far but as a longtime reader of this post I have come to the conclusion that this collapse is and has been from the beginning by design. They want all the ducks in a row even those of us who know what is going on but just got tired of waiting so flipped the bird and went on with their life. We do not and never have had the Three Stooges in charge at the top. They are evil manipulating self serving individuals who are only concerned with the exit path that best profits them. That planned exit is controlled by them, not us, and all the bitching and gripping by those around us wont change one damn thing. Get over it. When it comes it comes. Yet make no mistake. It is a steamroller and it IS coming. In the end I hope that God will judge those who dealt evil and his mercy will be on those of us who just happen to live in these unfortunate times. Pray that a better day is on the other side. Rick
When someone has 56 years experience in the same business you have to respect their opinion in that field. The major worry is that people – in the back of their mind – will always believe thay have government services, church, welfare, insurance, cash, good job, etc. to protect them from an economic collapse and it’s just not going to be there. Then what? Re-issue currency ASAP. Greg, I’d like to hear what experts say about what would have to happen after a crash. Excellent guests.
I went out to find an old hacksaw at the weekly flea market here. The one my father gave me when I was fourteen finally wore-out – the pegs wore through on the blade holders. I found two – a Lenox high tension aluminum and a really old Craftsman, which had good pegs on the blade holders. Fifteen bucks, the pair. In a crunch – I may be Mr. Fix-it, or barter my way forward.
If capitalism is finished, then there would be no more food stamps and nintendos around. If there are no food stamps and nintendos arounds, then the men on the street would know that the kabuki civilization is over. So they would wear their ninja masks and make their last bushido long march, carrying a banner: “Sayonara, capitalism. We will remember you in Fukushima.”.
Capitalism has morphed into crony capitalism or CRAPitalism since LBJ. It’s a death by a thousand cuts. I still have high hope on Trump. It’s not over until the fat lady sing.
However, I’m not too crazy about Ivanka moving to DC with her husband. We will see.
Yep- another good one Greg- thanks. And again- nothing matters…. Italians voted “overwhelmingly” and the markets are roiling this Monday morning, Dow futures up @ 87 pts…. another yawn
Yes Greg, but it seems the math never matters either- it has been hard trying to wake up family and friends-finally having taken action to minimize exposure to the market- it feels like real bad timing- as now their 401k’s are looking good and i’m the fool. It only goes up now- and no one wants to hear it anymore.
Greg, you are an excellent communicator. That’s why i’ve tuned in 3 times a week for years. I get the danger, it is just that crying wolf is getting futile. That are in complete control and can keep typing on their keyboards, conjuring up dollars to buy whatever they need to . The Dow is up another 200 today- it is comically ridiculous. All of Trump’s campaign rhetoric of bubbles is gone . I heard him this morning taking credit for this rally. Even HE is more or less full of sh:$&”@&- also talking about how much he likes obama now and how well-intentioned he has been towards the interests of America…. point i was making (tongue-in-cheek)was i’m kind of upset that i’m not riding this latest pump-up to new highs. I know trouble is ahead- but your guests have been saying it’s weeks away for years now. Greek vote, brexit, italian vote, deutschebank, libor…none of it updets this apple cart
Think fireworks, like a rocket. Up it will go – but since the fuse was lit (bad math) it WILL explode. And that “Math” is about to go insane. (No limits) We’ll be the fools, then go on being the fools, then stay fools for time indeterminate. Love your family while this pause lasts. When the paradigm breaks; none of your love will have been wasted.
Trade volume of S&P 500 is $2.34B today. I have’t seen that for a very very long time.
Trade volume is $2.15B today?? That is two days back to back.
Trade volume is $2.73B today!!!! That is three days back to back.
Btw, the average volume has been around $0.5B to $o.6B for the past two years unless it was option expiration date which has been the third Friday of every month.
unbelievable and absolutely ridiculous. And the talking heads act like it’s because everything is fixed and the outlook is sooo great now. At this rate, 200000 tomorrow would not shock me.
$2.43B today! Perhaps the big boys know the Fed will raise interest rates next week. Something is cooking but I don’t know exactly what it is.
CIA says Russia intervened to help Trump win White House
CIA report on Russian election hacking leaves GOP leaders facing an impossible choice
Of Course! I agree it is B$#$%^. It is repulsive that they get out in front of this whole “fake news” meme, but they do and that is what most people see. Not that the MSM was exposed as colluding with the DNC and all the other crap….it is frustrating to say the least. 20,000-here we come Wooohoooooo! That is why I put that Mark Twain quote at the end of every post- wondering when it will jar people awake. Never seems to…….
We can spend our days in turmoil, worrying about whether the world is ending. Or we can live day to day and appreciate what we have. The fear of losing it all if you don’t have a trunk full of gold is a prison that you create for yourself. I still don’t understand how you will be okay if you have gold while the world is in chaos. In the dire cases that some predict, lead will be more valuable than gold. It is similar to those who build underground bunkers in hopes of surviving a nuclear war. Why would I want to?
You over-simplify. Bad things are happening: in which preparation can mean a great deal. Acting within one’s means is all that you can do.
Store food and means of producing food, clothing also, and fuel.
You might not care if you have gold in the future, but you will care if you have food or not! If it gets real bad, people will not trade food for gold.
Anyone who has gold but doesn’t have food storage is a fool! If you have food storage, then go ahead and store some gold.
I like Donald Trump as well as the next guy, but starting an economic war with China is suicide. This is one war we cannot win. China holds the worlds gold supply, and will force an audit if this issue continues.
Trump is not going to start an economic war with China. He is merely taking a first step of economic tango with China. It’s a ritual or foreplay in business.
CNBS HEADLINE: Dow opens at all-time high as investors shrug off italian referendum
Does the CBS headline offer an explanation as to why DOW opened at all time high? Is it a part of the Trump rally which will bring S&P to 2500 next year? Is it because of European investors fleeing the European markets? Why is the trade volume as high as $2.34B?
The markets are as fake as the mainstream media and the stock index is as unbeatable as Hillary until the night which reality matter more than fake news.
Awesome dose of reality and truth. Thank you Greg and Mr. Sinclair. Honestly, if I could have just one news/financial site it would be USAWatchDogs.
WatchDogs, Please pay heed to Greg’s comment about a food storage and water source.
yeah, ha! and before the election Trump was talking about the bubble, now even he’s playing along and taking credit for the rally.
JS Needs a month off from this form of non capitalism. The thoughts of working in the same way as things has always worked, but then it don’t? Step back. Jim take some time off if you read these post. Don’t let the stress get to you.
Greg it seemed his head was going to explode at any minute Aspirin and rest.
I think we will be safe for at least four more years.
Tin Foil Hat I don’t think we are safe now / today. We as a country have already collapsed were just waiting for the damage to start. If not for the rest of the world using what is left the dollar we / America would be starving.
Yep Greg. I had to back off from my own thoughts to prevent depression. In Capital markets on can help all by investing. In this scam market it is set to shed blood because of greed. Caring for no one causes others to care nothing for you. Again Proverbs chapter 1 describes our market to a T.
I agree with JS that organic capitalism is dead. I worked for a small specialized real estate management company that was bought out by a F500 company because we were very efficient and profitable. We are now converting to their business model that is completely incompetent, dysfunctional and grossly inefficient. They do not care because it is all about controlling the market which is not capitalism, we are now in a deep oligarchy where only the elite have access to success. Very pathetic. The small business entrepreneurial mindset that made this country great is DEAD! Very pathetic. JS is spot on and his message in this interview is very clairvoyant.
After reviewing this interview, I discovered one comment made by JS that I disagree with and that is only if he misconveyed his thought on the following comment:
“Your savings account is not silver, although it will outperform gold, your savings account is going to be gold”.
I disagree with this comment for the following reasons:
1. Silver is and has been money and store of value for thousands of years like gold but more accessible to more people.
2. Silver is and is becoming a more valuable due to it application in contemporary electronic and biotech products.
3. The gold/silver ratio is at a near record high which does not make sense given it’s historic monetary value and it’s increasing value in high tech applications.
4. Silver is economically affordable to more people as store of value than gold.
5. What is left of the “market” puts a much higher premium over spot on silver on percentage basis than gold.
Just my observations. Anyone care to chime in?
One must realizes the volatility in gold and silver prices is by design presently. The squid purposely manipulate PMs’ prices to disqualify them as monetary metals.
Do you remember how the dollar was behaving in 2011? I remember gasoline price was $4.00 in the morning, $3.25 in the afternoon and then back up to $4.00 at night. Most people didn’t realize that wasn’t the price of gasoline that was screwed up, it was the dollar which was on the verge of collapse. No business can operate with any currency so unstable.
1. Silver is and has been money and store of value for thousands of years like gold but more accessible to more people.
** True. However, silver no longer has the quality to be a monetary metal due to its industrial use. The price will behave like the dollar in 2011 due to supply and demand. Outside of space exploration, gold has very limited industrial usage. Once the gold price is reset to whatever price necessary to mop up the debts, the price will settle like water in a pool until it’s disturbed by war, natural disaster ……..
2. Silver is and is becoming a more valuable due to it application in contemporary electronic and biotech products.
** True. Hence, it will outperform gold. However, after the reset, it will behave more like an investment in commodities due to its volatility. Ordinary people don’t put all their savings in one commodity or stock.
3,4 &5. All true.
Although I was a big Trump supporter it is becoming clear that the rigging of markets will continue. That is the biggest disappointment for me is that Trump will try to have success in our current rigged Keynesian system with Gibson’s Paradox. That plan was put in place by Bob Rubin and Larry Summers and is to suppress gold, keep interest rates as low as possible ZIRP and print all the money you want. The ESF at the US Treasury is the beast and is unregulated and their rigging and fleecing of people in collusion with the big banks will not stop under Donald Trump. If Trump was wise he would let the system fail and build America back on the foundation it was originally built on a silver standard.
I found this report staggering.
The Chinese Yuan is essentially crashing when you consider where it started a few months ago. I feel with Trump peddling the idea of an import tariff on Chinese goods that they may be forced to either reset the gold prices and backstop the Yuan with it, or break totally away from the petrodollar system altogether. How many times can they devalue their own currency in order to have access to American markets? Unfortunately for us, they have a plan B. Its called Gold.
Yeah, whatever this means, Jerry. However late the hour… Two years at least before this happens. I know this scenario is your own personal wet dream, but that won’t speed up the process any. Time for you to think outside of the box a wee bit and read up on just how dysfunctional the Chinese economy is. It’s a seriously rigged game all on its own.
I’m confused. If it’s all the tech guys’ fault wouldn’t regulating them to prevent this sort of thing be what the doctor ordered. Yet many people are against regulation.
Does this mean capitalism has failed?
Check this out. It might be a bit extreme but perhaps it makes a bit of a point?
Thanks for all your great work!
Newman, and everyone else here…..Watch this documentary on how fabric and clothes are made in China for export to USA and abroad. Take note of what the workers say and how they complain of recent low volume orders and low standards. They discuss prices and labor (costs) in depth as you watch read the bylines. Pay attention to the interveiws of the Chinese workers and what they say about conditions in China. Slave labor, ie, young girls from outlying farmlands conscripted by their older parents so that the rest of the family can recieve money to stay alive. By allowing China to determine market prices for USA bound commodities it’s driving down the ability of USA companies to compete globally. The part where the ‘scrap buyers/guys’ are done overloading the truck, and pay the woman from the warehouse manufacturer for the scraps is priceless! The woman collecting the payment from the truck driver asks,”is this fake money?” to which the truck driver replies, “ALL REAL (paper!!)”. This show also lets the viewers see that Chinese/China does NOT respect Intellectual Property Rights, Patents, nor Copyright/Trademarks. The woman explains (blatantly) about Chinese customers wanting the clothing factory to make ‘copies’ of patterns of ( Fashion Designers) from pages torn from magazines! I hope someone in President Trump’s cabinet views this and makes China pay.
‘Reel South, ‘Cotton Road’ S1/EP03, 2016. This ‘aired’ on 2/15/2016 on my local PBS. ‘Reel South’ is out of SC and produces documentary style programs worth watching. Note there are even subtitles posted on screen in Chinese, so even Chinese here in the USA must be watching this/ these programs.
‘Cosco’ is essentially the name on the shipping containers that land in the USA from China, containing all manner of goods, 90% of which is sold in the Big Box stores like Costco, Best Buy, Sam’s Club,etc. Pick anything up in one of these stores and be surprised if it DOES NOT say ‘made in China’ somewhere on the packaging. They have gotten real good at the game of late, making the print so small that even hunting for it it is hard to read…deliberately, because they know Americans don’t want to buy poor quality goods made with child labor.
Correct me if I’m wrong, but doesn’t this seem like an act of desperation?
In my world anytime you need to restructure by canceling contracts with current clients, it tells me you are worried about future liabilities and possible litigation. In other words, cutting off a finger to save a hand.