When Credit Cycles Blow Up, They’re Really Destructive – Chris Martenson

By Greg Hunter’s USAWatchdog.com

Futurist and economic researcher Chris Martenson says we are not at the end of a business cycle but “. . . at the end of a credit cycle.” Martenson warns, “Here’s why people need to be concerned. Credit cycles, when they blow up, are really, really destructive. 2008 to 2009 was very destructive. Instead of realizing the error of their ways, they went for a third. This is the most comprehensive credit cycle that we have seen. Remember, bubbles have two things that they need. Number one, a good story that people can believe in and, of course, it’s a false story. Number two, ample credit. That’s what the Fed and central banks of Japan and Europe have done. They just flooded the world with credit. Now, we have bubbles everywhere. When these burst, it will be the worst bursting in anybody’s lifetime because we have never seen anything like this.”

Martenson says a debt reset is locked in, and somebody is going to pay.   Martenson explains, “When you have as much debt that the United States has . . . the overall debt level in the United States, including auto loans, mortgages, consumer debt, student loans and corporate debt and whatever, we’re sitting at about $60 trillion right now. It’s a huge number, and when you get to this level of indebtedness, plus those unfunded or underfunded liabilities . . . when you get to this level of indebtedness, there is really only one question left to be resolved, and that is who is going to eat the losses. That’s it. So, when you start asking that question, the banks and people writing the laws are pretty sure they are not going to take the losses. The person relying on the pension is the person that is going to eat the losses. . . . There is no way to make this work. Here’s where the social tension comes in. Even as ordinary middle class people are being destroyed in this process, the rich are taking more and more out of the system. That is courtesy of the policies of the Federal Reserve. . . . But the big risk is when these printing sprees, these credit cycles finally burst. They are wildly destructive. They are fast. They are hard. They are sharp and they hurt.”

Martenson says people can protect themselves with real assets as opposed to paper assets. Martenson says, “Real assets are the place you need to be if and when a paper tower comes crumbling down. I am diversified myself. I believe in land. I believe in real estate. I believe in gold. I believe in silver. I believe in other metals. I believe in these hard assets because this is where we are going to have to hide out because if you held hard assets in Turkey, in Venezuela, in Argentina and in places where the currency collapsed and declined, these would have been great places to be hiding out. . . . When this worm turns, it’s going to be a lot faster than it has in the past. There is no free lunch, and if you can see that, there is a wealth transfer coming. The wealth transfer is going to have a bright red line, and people are going to get trapped on the side where they hold paper claims, and the people that are going to preserve their wealth are going to be on the other side of the line with their wealth tied up in real things. That’s the period of history that is about to unfold.”

Join Greg Hunter as he goes One-on-One with Chris Martenson of PeakProsperity.com.

(To Donate to USAWatchdog.com Click Here)

After the Interview:

Chris Martenson added this ominous statement: “We are one sinking of an aircraft carrier away from the U.S. dollar being revealed as a fraud.”

There is free information, videos and original articles on PeakProsperity.com. You can also find the sign page for the upcoming New York Summit with David Stockman at the top of the home page.

 

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Comments
  1. H. Craig Bradley

    LAST DAYS OF POMPEII ?

    Who says all the asset “bubbles” must burst at the same time? Instead, I see rolling pin-pricks, as the pin moves around a room full of bubbles. Bubbles move randomly, pin moves and once in awhile, ca-pop, there goes a bubble. Tesla sure looks like a company ripe for a pin later this year or next year. Undoubtedly, there will be many more to follow in future years. This is a long story in its initial phases.

    Pins don’t self-destruct so the same pin can keep on pricking and take a licking. Sounds like your trusty Timex watch. Gold Bugs must wait until there time comes. Right now, still ample supplies and limited demand. No pin.

    • Anthony Australia

      Definitely a slow painful grind. Knock em’ out one by one.

      • Anthony Australia

        Blimey!

        • Crawdad Maquire

          Yup, blimey! Dem limey’s!

    • This Sceptred Isle

      The supply of gold increases each year. Not so silver…

      • paul ...

        TSI … your statement implies silver is getting more valuable … lets look at a few numbers to confirm this hypothesis … the gold to silver ratio is about 75 (1200/16) … we all know that as this ratio gets smaller the price of silver gets more valuable … now lets look at the “gold to silver mining ratio” (50 million ounces of gold are mined each year and 440 million ounces of silver are mined each year) so this gold to silver “mining ratio” is .1136 … now lets compare the “mining ratio” to the current “above ground supply ratio” … there is 5.4 billion ounces of above ground gold and 53.15 billion ounces of above ground silver … so the “above ground supply ratio” is 0.1016 … now as we all know … when the gold to silver ratio gets smaller silver gets more valuable … and this is exactly what we are seeing when we compare the gold to silver “mining ratio” to the gold to silver “supply ratio” … thus the hypothesis seems correct TSI !!

        • paul ...

          And if anyone is wondering why I chose to compare the “mining ratio” with the “supply ratio” (and not the other way around) is because “it makes little sense” to compare the above ground supply of something before it is even mined!!

    • This Sceptred Isle

      To be honest these days bubbles do not need a good story to form. It is more a case of too much currency and nowhere to put it (except stock market, bond market and real estate). The other cause is, of course, easy credit, which allows a poor person to lead the life of a rich person temporarily.

    • brian

      yeah H. Craig Bradley I agree of course, but lets not forget to color this scenario correctly okay. As the happy go lucky pin pricks innocently ca-pop a bubble here and a bubble there in our happy little effervescent room the standard of living for most of us will slide and slide and slide and folks will start getting restless and then measures to curb those restless folks will start becoming more prominent. More poop in the streets, more neglected elderly and infirm wandering around dying in dirty corners of society, more crime, more random and even some organized violence, more stink, more crap, more lies and less civility, get it? So yeah, its random, innocent, oh golly gee shucks for now, but we don’t need to let the bullshit candy land picture of where we are now completely obfuscate the yawning hell that awaits us barring some herculean and practically impossible effort to be expended by a yet to even be identified significant majority of Americans with their head firmly on their shoulders and their sleeves rolled up past their elbows.

      • H. Craig Bradley

        THE (SILENT) PROCESS OF ATTRITION

        Its not that bad for now in most cases. Its a progressive development where more debt is incurred and people must pay more for less. Things adjust and nobody really cares.Costs go up over time, as always. The key is nobody remembers or cares. So, we just continue on pretending nothing big changed. However, many little things are changing every day.

        The process of financial deterioration is cumulative and decentralized. For example, some people leave a costly state like California or Conn. for a state with lower taxes or no state income taxes and cheaper housing and other costs. The trigger is they can no longer afford to live where they are so they are forced to move piecemeal, one individual (family) or business at a time. The process of attrition goes-on for decades and few pay any attention, as long as they are doing fine. We only really care about our own personal circumstances. The rest is conveniently overlooked by many if not most residents.

  2. Frederick

    SGT Report shut down by Youtube President Trump had better speak out against this freedom of speech abomination or his remaining credibility will be toast Oh yeah and where the heck is Jeff Sessions?

    • Perry Comey

      Their closeing in! Somebody call Diamond & Silk!

      • Paul Anthony

        I don’t think Trumps Credibility is going anywhere. Every time the left gasps and points The President’s approval goes higher and his fan base ignores the left over dramatization of EVERYTHING !

        The Democrat party is dying. They don’t know it nor have they accepted it, but they are dying.

        Enjoy the show and Vote.

        • OutLookingIn

          A very wise man (George Carlin) said:

          “Forget the politicians. They are there to give you the impression that you have freedom choice. You don’t. You have owners. They own you”.

          • Frederick

            Indeed Mr Carlin was a very wise man ahead of his time He is very much missed

    • Arthur Barnes

      Jeff Sessions hasn’t shown up for work yet, a real RHINO in my mind. I always liked him in the past, but as soon as he was appointed as Attorney General he went to the dark side. Maybe he was just should have gone to Hollywood for a career instead of politics, bet he would have made a great actor. So many RHINO’s to get rid of, so little time!

    • This Sceptred Isle

      No chance. Trump only supports infowars as it is controlled opposition. Sgt report told too much truth.

      • Greg Hunter

        TSI,
        I agree!
        Greg

        • Julia

          I listened to the interview which had SGT Report banned. There was a lot of truth in that interview which would shatter the current prevailing story.

          • This Sceptred Isle

            Do you have a link to the interview or has it all been wiped?

        • This sceptred Isle

          I have printed this comment out and framed it!

        • james

          Greg, you should have the guy from SGT on, would be a great interview.

        • WD

          Greg
          It looks like SGT is back up, I may be wrong but SGT report is showing all past videos etc.

          Greg I find this much scarier than Info wars ban because SGT is really about the bullet to the bones facts…very real stuff…..They must be really on some type of trail!

          • Greg Hunter

            WD I like SGT and Happy Sean is back. We need him!!
            Greg

    • This sceptred Isle

      Speaking of freedom of speech Israel is officially an apartheid state now. So it is a racist like I posted originally.

      • Greg Hunter

        Tommy Robinson in Jail for pointing out Islamic pedophiles. Concentrate on that.
        Greg

  3. William Stanley

    Mr. Hunter: Thanks!

  4. Frederick

    Housing is already turning over in many high tax areas such as Connecticut and New Jersey People just cannot pay anymore This debt crisis will not end well

    • H. Craig Bradley

      Connecticut is in a sad state of arrears. New Jersey is too, as well. Property taxes keep going-up while home prices stay flat or even decline. In addition, Income taxes go up and the high rollers ( hedge fund managers) move to Florida to save expenses all around. End result: state tax revenues fail to meet expectations. More increases, more relocations to low tax states. Even Billionaires don’t need or tolerate insolvent states at their expense.

      • Frederick

        Exactly and the wealthy are the first ones out the door as they have the resources to be able to pick up and go even if they take a loss on their property The middle class don’t always have the option I feel sorry for the retiring boomers who were counting on that money to buy elsewhere I’m seeing prices dropping on a regular basis on Zillow

  5. Anthony Australia

    Yes credit may dry up but I can assure you we will be slugged with record high interest rates to pay back what they have already fished out.
    The ultimate return on the fake investment is what they are after!

    • Arthur Barnes

      Correct, many of these low interest long term loans are adjustable, folks, read the fine print, when they raise them up, and they telling you they are going to, explosion. Look folks, get out of debt period, end of story. As the business cycle churns downward, there won’t be enough money around to service the debt load, especially as interest rates rise so defaults, foreclosures, repossessions, etc. will abound. Seen it three times now in my life, probably live to see it again, get wise, get out of debt & survive.

      • Frederick

        Arthur Even the property taxes and homeowners insurance is enough to kill you My ex wife has a house that I built and the taxes are 23k and the homeowners insurance is 5 so that’s 28k not counting the mortgage

        • Tin foil hat

          Frederick,
          Tell your wife to switch over to Amica Insurance, I think she may save couple of thousand dollar.

        • Anthony Australia

          23k in tax, gee wiz.

        • Arthur Barnes

          Yes, thank you for mentioning that, in man States, in the East and the West alike the taxes & insurances are moving up fast. You might just be witnessing the last of the “American Dream”, a.k.a. the middle class homeowner!

      • H. Craig Bradley

        BUSINESS CYCLE OR CREDIT CYCLE ?

        I read that subprime auto loans have been growing in the past several years, enabling auto dealers to show strong sales growth even with lower quality buyers ( Lower credit scores or less reliable income). Now, a repo business near where I live has a lot full of repossessed cars and a few boats, as well. Two years ago, their lot was only partially full of repossessed autos. So, the cycle has already turned, with the most marginal buyers or lessees turning-in their keys first. We have a ways to go until you see some more luxury cars in the mix.

    • paul ...

      If rates go too high … businesses will see consumers cut down on their credit card purchases … so corporations will begin to lend consumers the money to buy their products “interest free” … and in addition tell their customers they won’t have to begin paying back the loan for a year … what I’m waiting for is … an interest free loan to buy a Lamborghini and not have to begin payments until 2058 … universities are now seeing a drop in their enrollments so they are beginning a program whereby students “don’t pay anything to go to college” but simply pay a percentage of their wages when they get a job (over their entire working career) … actually all the government programs by which citizens are given “free cash” takes the burden off corporations lending out money to pay for their products … the government just adds it to the National Debt … where the free cash handed out to the people each year to help them live (continue to buy corporations manufactured goods) … is simply a debt that will never be paid back … sort of like the necessary expenditures for never ending wars (that never gets paid back) … and all to benefit the many corporations in America making up the Military/Industrial Cabal!!

      • Arthur Barnes

        Paul, the downside to your stated corporate welfare diatribe is INFLATION, cut back much on free money and watch what happens. But like a child and its sugar candy they just can’t keep crying for more.

  6. Doogie Houser

    Their in for a real shockeroony!
    The View Battle’s it out over socialism.
    http://news.opera-api.com/news/detail/7f35b88b76ac48eae3b9bf8a0c4f56d0_us?share=1&country=us&language=en
    We know the future and it ain’t pretty, just about everyone is going to be in major shock.
    At least here on USAWatchdog, we won’t be so surprised. It’ll be shocking, but the informed won’t be in shock.

  7. SilviaMarlow

    Trump, Americans and Putin Have a Common Problem: The US Deep State Deportment
    https://sputniknews.com/columnists/201807201066536988-trump-american-putin-deep-state/

  8. Jim

    Thank you Greg for all you do to give us the reality of the economic situation with your Very bright and credible guests. However, As an avid viewer for the last few years, I’m starting to feel like it’s Groundhog Day when I visit USAWatchdog – Whether it’s Manarino, Pento, Nenner, Jim Sinclairs partner, etc – same guests, same messages. Please don’t me wrong wrong – I enjoy them very much and look forward to each new interview. However, I’d like to suggest adding a new voice and perspective. We keep hearing about massive global debt, credit bubbles, inflated stock pricing that Marino says is not real. It sure seems real to me. Please add a guest who can address VELOCITY because without it, we will won’t see hyper inflation as so many guests predict. In fact, everyone talks about “all the money printing” but none of it is in circulation, except in the stock market. Most Americans have no savings, increasingly high credit card balances and other debt, and would have to borrow to cover a $400 unplanned expense. How could we ever get hyper inflation in such an economy? Weimar Republic hyper inflation /devaluation of the mark is easy the explain: government kept printing fiat marks, people already had substantial savings and they fled the mark for real assets, the pound sterling, and gold back dollar to get rid of their fiat marks. But that option is not available today – all currencies are fiat now and all are inflated. It’s a very very different dynamic today with digit money supply creation (not money printing) than the days of gold-back currencies and people had savings and little debt. Please have an expert address “how” and “if ” Velocity is even possible and what the scenarios are that could play out. And thanks again for all you do. God bless you brother Greg!

    • al

      Jim,
      I’m with you. It’s groundhog day/year all over again and again. As Greg and Chris and many others have said, this should have been done and over with years ago. Nomi’s book “Collusion” explains the issue at hand. The big question is when?
      I’m a hard core technologist, I’ve been critically studying Bitcoin’s infrastructure for over a year and it’s solid. The best thing is that it’s machine regulated and the diversity of people who contribute to the system do not make a penny off of it.
      Money transfer is the core function of Banks, now Bitcoin is here and it’s major competition.
      This economy is a very tricky and tangled puzzle but my money is on what Central Banks hate, and that is precious metals and Bitcoin. Not the alt coins, only Bitcoin.
      Let the technology mature a bit more and we will see a shift to real money again.

      I’m with you, this has gone on too long and I ain’t getting any younger.

    • Arthur Barnes

      Jim, deflation is my bet, people who are debt free will survive and probably strive during another depression deflation cycle. Deflation is the enemy of the FED, inflation is their friend and ally and the enemy of the working people. Your comment is astute, hyperinflation does not have to happen even in a debt burst and large business cycle downturn, more likely it will be a depression deflation event. If the government then starts to print large sums of paper for your bathroom to combat a large downturn, that is when the inflationary event could be triggered. It isn’t natural for a currency to hyperinflate, it has to be fed by poor economic policy, so if hyperinflation does come to pass it because the FED & the Government cause it; otherwise, the natural tendency of currency, including fiat currencies, is to deflate. Pray when the event comes it is deflation which is survival as a culture.

      • Frederick

        Arthur It was deflation in 1930s right My uncle who was an MD got very rich by buying up a lot of prime real estate in a suburb of NY called Garden City during that time I remember him as uncle Bill who drove a Maserati around town

        • Arthur Barnes

          Fred, yes, it was a deflationary event, prices fell, stocks fell, real estate fell, printing until infinity (Q easing) wasn’t an option at the time so hyperinflation wasn’t a concern like it is today. The FED today walks a tightrope between trying to drive inflation to pay off debt and still save the economy, frankly, not really possible because even at 4 % inflation your currency devalues all your real wealth in just 25 years!

      • Jim

        I’m leaning toward deflation as well. What’s your take on gold/ silver prices when credit dries up, consumer spending falls, mortgages default and unemployment hits 10-15%+ . Do precious metal prices crash with everything else and only rebound when we are wallpapering our bathrooms with president Franklins?

        • Frederick

          Just google Gold in a deflationary environment and you will get your answer It does well historically

    • andyb

      The inflation scenario that most likely will play out is being nickle and dimed to death. If gas went to $6, bread and milk to $10, the civil riots would be instantaneous. But over time these prices would be reached easily by very gradual increases. For example, it wasn’t that long ago that 80/20 hamburg was $1.29/lb; now it is over $4 in many locations. The big question, however, is whether the criminal banksters have the time left to effect this gradualism before the whole thing blows of its own volition.

      • Arthur Barnes

        Andy, the FED has devalued our currency by 95% since its inception in 1913 or was it 1916, can’t remember which, but they continue to march forward with their devaluation of YOUR LABOR, YOUR WORK, YOUR SWEAT, criminal to be sure. Inflation in housing is nothing less than incredible, with food, gas, utilities, insurance on its heels. Even cheap China trinkets are on the rise. This cannot turn out good!

    • This Sceptred Isle

      The problem is that of the two ingredients necessary for hyperinflation, currency supply is controlled domestically by the banking system, so is simpler to analyse. Velocity of money, however, is a product of the public’s current consumer psychology and policies of governments that hold US dollars in reserve.

    • Tin foil hat

      Jim,

      Great Depression, not hyperinflation, happened under the gold standard, money was real even though FDR devalued the dollar via gold confiscation – he could only do that once since gold was still the de facto reserve currency globally.

      Hyperinflation can only happen under a fiat currency system. Weimar Republic was a very poor country after WWI (Deutschmark was backed by lands – wink, wink, not gold). The wealth gap was probably just as extreme as where we are at now. The only reason the Weimar Republic fiat monetary system did functioned was mainly due to investments from America which was still under the gold standard (Deutschmark was backed by lands and American gold).

      The moment the real money dried up due to the Great Depression in America, hyperinflation ensued in Germany. Many Germans quit their day jobs during the hyperinflation years to be full time traders in the stock market.

      Anyway, my point is that hyperinflation should have followed the Great Recession. The only reason that didn’t happen in 2008 is because the whole world was functioning under a fiat monetary system. There simply wasn’t another credible EoV and SoV available to replace the dollar. Unlike some Germans who escaped the Deutschmark via gold and other foreign currencies during the hyperinflation in Weimar Republic, the world was stuck with the dollar in 2008 and needed time to search for the replacement which the 500 lbs gorilla will deems agreeable. Hence, China has been stockpiling gold since 2006 and building up their armed forces at a rapid pace.

      I suspect we will not be that lucky again. Hyperinflation will follow the Great Depression II.

  9. Perry Comey

    1500 Afrikaner’s, “South African Boar’s” making the move to Russia, to escape violent persecution, directed from the S.A. government.
    https://m.youtube.com/watch?v=hqdyyHJb_SE
    WILL SOUTH AFRICA LEARN WHAT ZIMBABWE HAS LEARNED?
    Don’t Bite The Hand That Feeds you!

    • Bill

      Perry Comey:
      Not to worry, with Obama now is S Africa, He will help solve their problems.

    • Tin foil hat

      Perry Comey,
      Russia is the new “Beacon of Hope & Freedom”. Trump should have gotten those Boer farmers here right after Obama gave that speech in South Africa, criticizing Trump promoting racism under the facade of nationalism.
      I’m annoyed that Putin seems to be more Reagan than Trump.

      • WD

        So many people have Putin wrong…he rededicated Russia to Christianity, he is accepting these white farmers from South Africa…he is building a new Russia manufacturing, food, agricultural etc….amazing

        • Frederick

          WD so many people are still drinking the koolaide regarding Russia and Putin Turn off your TV and you will at least have a chance to think rationally is my advice Also travel alittle and get another perspective on the world if you can Not addressing you personally of course

  10. SilviaMarlow

    Does an Elected President, by the people and for the people, or an Unelected mostly, former Intelligence Community hacks, like Mike Morell (code name Jocko) Govern the US?
    https://sputniknews.com/columnists/201807191066508338-us-president-governance/
    Who do Trey & Paul jump fer, under order’s_and while weightless ask how high?

  11. Frederick

    Breaking news Sergio Machionne CEO of Fiat/Chrysler dead at 66 Wonder if he knew the Clintons?

    • This Sceptred Isle

      If you are on their Christmas card list you should be worried.

      • For Whom The Bell's Will Toil

        TSI,
        We’re all on the list and Trump’s at the top. So is all our phone calls, email, smart T.V.s, fridge,ect., ad infinitum. That humongous non-profit discript building in your neighborhood in the thousands across the nation, is housing all our incriminating evidence. For the day we go to Kangaroo court, His Honorable Skippy presiding. The 5 eyes spy’s working overtime!
        We’re giving them all the rope they need for our Italian street lamp art, circa 1945!

  12. David

    Perfect interview. Thank you!

  13. Jerry

    Greg,
    What have I been saying about China’s new global currency exchange system for the past several years ? Now the IMF says this.
    https://www.reuters.com/article/us-imf-currencies/imf-says-dollar-over-valued-chinese-yuan-in-line-with-fundamentals-idUSKBN1KE1VF

    Please let this soak in. Hank Paulson and Timothy Giethner created ”The Working Group” for one reason and one reason only. The Trojan Horse transfer of Chinese wealth into American banks under the guise of a global currency reset. These two criminals were the chief architects of the 2008 financial meltdown, and they made deals, big deals with the Chinese for a bailout, along with creating a tarp fund bubble using U.S. taxpayer funds. And now they’re running around putting the finishing touches on a new,global exchange system along with the IMF and that pencil necked globalist Christine Lagarde. The writing is on the wall.

    FYI- If even one quarter of QE was given directly to the global population instead of Goldman Sachs and Wall Street we would all be wealthy. How in world did we allow these knuckleheads to run up over a Quadrillion dollars in debt? Morons!

    • Jerry

      The reset? It’s been happening internally since 2008.
      https://www.rmbusawg.com

      • james

        yawn, you have been saying the same BS over and over, yet NOTHING has happened. Just thought I’d point that out, next.

    • Andre

      I would not trust a word what comes out form any mouthpiece in IMF. Are they setting the stage to devalue dollar? But Why the would say it? Do they have large short position in USD and they are losing money?

    • For Whom The Bell's Will Toil

      https://m.youtube.com/watch?v=koMt56rYu3c
      “An expression from a sermon by John Donne. Donne says that because we are all part of mankind, any person’s death is a loss to all of us: “Any man’s death diminishes me, because I am involved in mankind; and therefore never send to know for whom the bell tolls; it tolls for thee.”

    • Occasnltrvlr

      What you had been saying about China’s currency for the past several years, was that they were going to back it with gold.

      I figure that will happen just about the same time as the Global Coastal Event – I’ve marked them on my calendar.

  14. Anthony Australia

    Apologies to cross promote, I found this interview intriguing.
    Please remove Greg if I have breached USAWD guidelines.

    https://youtu.be/60FrsWm9OAc

    • Bob

      I watched your video and from the get-go I felt like I was watching a couple of communists criticizing capitalism. Sure modern capitalism is bad, but I don’t think communists are really worth listening to. They always have other motives. Hedges has those bulging eyes and rubbery lips that weirdo liberals often have.
      Ok up to 12 minutes and they are still going on about capitalism. Are they going to do this to the end of the video and offer no solutions? That’s what Lenin and Engels did- they wrote 50 thick volumes on what was wrong about the system and only about 50 pages on what to replace it with. There was a very good reason for that of course. (He didn’t want anyone to know what living under Communism would be like.)
      15:00 Karl Marx quote.

      18:00 They move into total BS Trump bashing garbage. Completely spurious arguments.

      Then they say Trump is just using tariffs to “get votes”. Then he said “Trump lost the popular vote”. That is 100% BS (the smelly kind too).

      Right I watched 21 minutes and 40 seconds of this garbage so you guys don’t have to. Anthony, I think you need to be a little more discerning about what propaganda you post here. These guys are simply anti-white, left-wing, open border, globalist, communist, anti-Trump propaganda spewers. Maybe RT is just part of the Perestroika Deception after all?

      • This Sceptred Isle

        Capitalism does have a conundrum in that in its drive for greater efficiency businesses will become increasing automated and rely on machines, which will destroy the consumer base on which capitalism depends.

        • This Sceptred Isle

          Unfortunately this paradox cannot be addressed by capitalism. The benefits of automation will have to be ‘socialised’ in order to preserve the purchasing power of the consumer base. Also, can you truly describe a system as capitalist when big multinational corporations are working hand in hand with government s to dictate policy?

          • Greg Hunter

            TSI,
            Venezuela is socialist and it has $1 million% inflation. It don’t work and it never has.
            Greg

            • This sceptred Isle

              I agree that it doesn’t but that doesn’t mean that capitalism works long term either.

              • This sceptred Isle

                No matter which system you implement it will not work long term if a bunch of parasitic arse-holes run it.

                • Charles H

                  TsI,

                  “No man is an island”. ‘Commerse’ – in simple, barter terms: works. As systems grow and become complex – dubious people get ahead in the Game. When power or riches are at stake: man’s sinful, depraved nature ruins things everytime. You have defined the problem – without naming the source.

              • Greg Hunter

                TSI,
                Yes true capitalism works long term. We essentially did away with bankruptcy in 2008 and that is why we are where we are today.
                Greg

                • This Sceptred Isle

                  Theoreticallyou are correct that pure capitalism could work long term. However, in practice the winners in the capitalist system will always seek to preserve and increase their position of dominance by eradicating the system of creative destruction that also makes them vulnerable in the future.

                  • Greg Hunter

                    TSI,
                    Not if you enforce bankruptcy laws.
                    Greg

      • Anthony Australia

        Bob I found it intriguing and open for debate , manny if your points I agree with.

  15. Maria das Santos

    Thanks Mr Hunter and Mr Martenson,its jeja vu all over again,not only in the warning but the insanity of our central banks,who are playing with a very nervous detonator.
    Mr Martin Armstrong has assured that China will be the future,according to his model.However the abject poverty and crushing surveillance are not easy bedfellows,whilst the Chinese people have accepted much for their elites I just wonder ,as does Mr Karl Denninger,if China can devalue by 50% without lamp post art from Italy circa 1945?
    https://market-ticker.org/akcs-www?post=233861
    Mr Martenson encourages us all to buy hard assets with profits from our portfolios,well mine is around the rim of a toilet with the manager in the Mediterranean sunning himself with his floozy.With bail ins a real possibility here in the UK and Europe,by the way the incompetence and theft of the TSB here of their customers’ money continues in the fourteenth week and no cops in sight,how do you buy assets with such a regime in place?
    Now the IMF and EU have put together a commie policy paper encouraging an increase in inheritance tax by enough to impoverish all farms,estate trusts,and home owners.These policy papers have a nasty habit of becoming policy.So goodbye land as a hard asset.
    Many wealthy individuals are buying art and diamonds to hide money,I wish(!),and much of it is uninsured and much is stolen to order.Sadly a huge part of your wealth has disappeared for the next generation or until the reset to sanity.
    Protecting your pennies will require you to think and act like a criminal.
    All that issued debt is in the US Dollar and will be repaid in US Dollars,a great deal of pain awaits us outside the US Dollar.

    • Andre

      Maria das Santos
      You don’t want to buy anything in UK nor EU that are run by fascists regimes and populations there are the primary target as much as US or Canada. Look at the UN map of USA of agenda 21. Trump will not be able to prevent it. UN was created and run by Jesuits and Vatican. Europe as well as North America where bastions of reformation and we know that Rome never forgets. The lands will be confiscated even in US. They will do it for the common good and for the children. 6 out of 9 “supreme judges” in US are Roman Catholic now and the Trump’s pick, Brett Kavanaugh, is a devout Catholic, Jesuit trained and proud of it and probably Scull and Bones from Yale Law School.

      Buy in Belize and try to disappear from their “inventory”. But first of all, look for Christ because He is coming soon. But if He finds you and you truly come to Him, they will go after you if you stay where you are.

    • For Whom The Bell's Will Toil

      Maria,
      Speaking of pennies. Did you know that about 20% of our pennies over here in the State’s, have the likeness of the Queen. Yup, great, great, great. . . Granddaughter of the King we went to war to break free of. She’s on some of the pennies, pennies in our pockets, by way of Canadian’s.
      By the way they aren’t even pennies technically. Their cents! But we still call em pennies. Well could you imagine calling penny loafers, cent loafers? No way Hosea, thank God cents still fit in the strap across our instep on our loafers! You might be to young to understand where pennies fit in Penny loafers!

  16. foggygoggles

    Why would a debt default that falls on the wealthy, be “unpopular? The wealthy are clearly in the minority.

    • Frederick

      Foggy I’m sure it would be well received The problem is collateral damage to the rest of us wouldn’t be pleasant I imagine Got gold and silver everybody?

  17. Martin

    I feel let down by his tepid endorsement of precious metals. He seemed to imply that they will not do quite as well as he once thought they would due to government taxation or confiscation. This leaves the listener with an unanswered question about the best way to protect himself. That is my take on his answers. I prefer Bill Holter or Jim Sinclair as guests. They will straight up tell you that gold and silver are the best protection and they will answer your questions about confiscation.

    • Frederick

      They can’t confiscate it if they can’t find it Martin Wise up

      • Tin foil hat

        Frederick,
        They have already confiscated it via the tumultuous fluctuations in gold prices. Do you remember “Cash 4 Gold” shops were popping up like weeds? Do you see much “Cash 4 Gold” signs anywhere now?

        • This Sceptred Isle

          Good point, they were everywhere. Still the longer the suppression the more bullish the setup, especially for silver. The lower the price the more silver will get chewed up by industry and the less urgency there will be to invent cheaper replacements and discover new mine supplies. I think two thirds of silver is produced as a byproduct from mining other metals so the silver will be dumped on the market irrespective of mining costs for primary silver miners.

  18. Thomas

    Greg,
    In this interview you referred to Bitcoin et al as an alternative to fiat. No, it is a derivative of fiat. Not only is it a derivative it is not claimed to be backed by a government. It is an iou for an indeterminate amount of dollars based on sentiment. There are some cryptos perhaps linked to gold or silver if we can trust that as a claim, but those that are not are not alternatives.
    Please, this is a critical FACT and you and others have avoided discussing it. I credit your reporting but this as stated is not an opinion but a FACT and as the great journalist you are please start raising this point and ask for comment. I think you will find that those who disagree have weak arguments and profit motives. Or it could be people are just almost universally stupid and think all value is sentiment.

    • Greg Hunter

      Thomas,
      What Martenson said was Bitcoin and other cryptos have at least gotten people to talk about what is money. That was about it. He clearly believes in hard assets for what is coming.
      Greg

      • Lake M

        Greg,
        At the recent G-20 meeting in Buenos Aires, members kicked the can down the road when they failed to issue a collective opinion on Bitcoin. Instead they postponed the decision until the next meeting.

        Doug Casey had warned his readers a couple of months ago that the G20 could decide that Bitcoin is illegal except for those controlled by their respective governments. This privilege that they reserve for themselves, will dovetail nicely with the push to create digital money.

        If the financial elite are successful in achieving this goal, the fascist state will then control all bank accounts and enable ruling by edict.
        They already have this power but it is a lengthy and cumbersome process to seize accounts. They might force usage of a FedCoin as replacement for the FRN. Once in place, it would enable them to police
        all accounts and push a couple of buttons to freeze or seize the cash.
        They could easily order that gold is not convertible to FedCoin unless a fat tax is paid upon exchange. Like Chris M said, “they change the rules”.

        There’s a growing list of countries with large declines in their respective currencies and in everyone, gold is at or near all time highs. Gold continues to prove its age old role of wealth protection in the face of currency devaluation.

        Martenson also mentioned in addition to excess debt, the governments increasing inability to collect taxes and that the burden falls to fewer and fewer bearing the brunt of taxes. Currently in Greece, 19% of
        taxpayers are responsible for the majority of government revenue.
        A consequence of the decline of the middle class. Its happening in most of the western countries. Chis is correct… the RESET is inevitable.

    • Frederick

      I was watching Lionel earlier and he said “ Cryptos compete with govt issued fiat currency, think about that” I thought the same thing Why would they allow the competition when we all know it would be Kryptonite to their monopoly wealth creation system known as fiat money

      • Tin foil hat

        Frederick,
        Bitcoin doesn’t compete with government issued fiat currencies, it competes with PMs. Hence, Bitcoin associates its crypto to a gold coin in its ad rather than rolls of paper notes. I suspect Bitcoin is an instrucment designed by the CIA, like gold ETF such a GLD, to divert interests away from physical gold.
        The government can eliminate crypto currencies by simply closing down the exchanges whenever they want to. They can’t stop the Chinese citizens from buying gold but they can entice them to buy Bitcoin instead.

    • J Marty

      Sorry Thomas, Bitcoin is not a fiat currency. A fiat currency is a currency that has value because a government says by decree or fiat that is has value. Bitcoin is a free market currency. Two or more parties agree that it has value and use it as a medium of exchange. You are right in asserting that Bitcoin has no government backing. It was never intended to be that way. I think you are confusing the idea that government backing imparts value to something. It does not. Bitcoin is not an iou for anything. When you own bitcoin, you actually own it. You can mathematically prove it by unlocking it with your cryptographic keys. Greg is right in stating that we are having a discussion about what is money. The problem is he refuses to have that discussion when it involves Bitcoin or the Bitcoin community. I can only surmise that he is afraid of it. As far as I know, he has never interviewed Trace Mayer, Andreas Antonopoulos, or Saifedean Ammous. I think his shows would be much more interesting if he committed to doing one bitcoin show every quarter. I don’t think that is too much to ask for.

    • Bob

      Stewart Thompson says BTC going to $40,000. He says probably $20k within a year.

      As a former subscriber I found his accuracy astounding in the past. He also thinks GDX will be like Bitcoin eventually. At 25 now, it will go to THOUSANDS he thinks.

  19. Matt

    This is the single best interview you have done Greg. Chris frames The Great Waves of Change now facing all of humanity – resource depletion, despoiling of a beautiful and rare planet in the universe, species extinction on an unimaginable level, and climate change that will displace hundreds of millions of humans around the world. Humanity has overspent it’s collective inheritance, and the human family continues to grow while drinking from an ever shrinking well.

    Add to this situation the presence of predatory races from beyond our world who are here seeking to take advantage of a weak and divided humanity for their own purposes. The Intervention has been operating here for decades – they are flying in our skies with impunity, are taking humans against their will, and they seek to displace humanity as the predominant race on planet earth. Consider deeply what that means for every man, woman, and child on planet earth.

    This can be seen. It can be known.

    • Greg Hunter

      Yes Matt, “great waves of change coming.” Clear concise point and I agree totally. Get ready and stay ready.
      Greg

      • JG

        Greg
        Yesterday, Robert David Steele announced that President Trump will reset our money to a gold-backed dollar in October. He is working with Russia, China and other countries to join with, hope I get this right, the ….and Silk Road. No war, only peace and every country equal. In response to other people’s request for some other people on your show, I agree, and humbly suggest 3 men as good as you are. They are Robert David Steele, Harley Schlanger, Dr. Steve Piecznik and Mark Levin.

    • Mark Berger

      What will “the great waves” look like? Resources will get more scare and more expensive, as Matt and Chris said. The weather will and is changing dramatically. Food production will get more difficult. More info on the Great Waves: https://www.newmessage.org/the-message/volume-4/great-waves-change/the-great-waves-and-your-life

    • Jennifer S

      Thanks for calling this out, Matt. I hope people can wake up to what’s going on so we can deal with it. I love these quotes from Marshall Vian Summers; they tell it like it is.

      “Humanity is at the threshold of great global change, world change on a scale never seen before, caused now by humanity’s misuse and overuse of the world, by human ignorance and human greed. It is a condition now that will affect the lives of every person. Though few are yet aware of it, it is a global emergency. You have changed the chemistry of the atmosphere, of the waters and the soils. And now the world is changing—changing so rapidly, so dangerously, changing now in ways that will affect you more than you realize.”

      So what do we do?

      “For nations to survive environmental decline in this world and increasing political and economic upheaval and difficulty, you will have to cooperate with each other. Instead of fighting, you will have to find ways to provide enough food, water and energy for the people of the world. That will be the prevailing and dominating need of the future here on Earth.”

      • Charles H

        Those who create the problem: will devise the solution. We are not in that club.

  20. Andre

    Finally, someone had guts to say that ALL markets are controlled. This is exactly in line with Bible prophecies. The markets are controlled by Knights of Malta and Jesuits both subjects to the whore of Babylon.
    Also he touched the sacred cow in America – the rich who are getting richer and laughing at America. They are all pedophiles and Luciferians with some exceptions I guess. I am talking about the ultra rich. The super yachts are getting bigger and middle class houses are getting smaller. They organized themselves in secret societies and sold out America. They create neo-feudalism or rather fascism were you will have few rich and rest are slaves.
    Civilita Cattolica, house organ of the Jesuits, says quite frankly “Fascism is the regime that corresponds most closely to the concepts of the Church of Rome.”

    They all bought in this Satan lie of the coming “millennium” here on earth under Pope and they will have special privileges. Soon they will find themselves on the wrong side of history.

    Did he say that IMF prohibit to back up currency with gold? Yeh, that’s why they took down Muammar Gaddafi.
    The Federal Reserve Notes are backed up by gun powder.

    Here is great investment tip:
    Math 6:19 Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal:

    20 But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal:

    21 For where your treasure is, there will your heart be also.

    God is coming soon and even elect would be deceived if it was possible. Become elect.

  21. Pete Marlow

    https://sputniknews.com/business/201807131066329305-finland-beer-putin-trump-summit/
    I wonder how this beer would sell during the incoming _ Trump🦅⛽️ 🐻Putin summit in Washington? Like adults, certainly doesn’t apply to our deep shadow Madcow ruling elitists. I can see olé Mitch man and his RHINO’S hiding behind his wife’s skirt. She seems to be the only Republican along with Melania, who’s got any ball’s in that group. Of course our man will get his, back, this second roundup, @ the OK Corral! He’s the real comeback kid if we ever saw one! He’s just like the Everready Bunny! You can, bet the farm on that dude! Just don’t count on the swamp creatures. You’ll wind up in quicksand pretty quick. No tricks, please!

    • Bill

      Pete Marlow
      Prez Trump is the new ” Teflon Don “

  22. al

    USAWATCHDOG.COM… The antidote to the Enemy Media

    I agree with everything except the Real Estate portion. Maybe later, but now it’s way too frothy. Gold and Silver are ON SALE! It’s a no-brainer.

    Great interview as usual Greg

  23. Allen Davisson

    The cycles of crashes, loan it, let them build it, take it back, loan it build it take it back is a game that the controllers laugh about. They laugh at our scrambling to recover like a bully kid laughing at a bucket of minnows poured out onto a hot sidewalk. Follow the power to the top of the pyramid.
    WHO CONTROLS THE CONTROLLERS?
    The tip of the pyramid represents, to most theorists, the persons or person at the highest level of the Earthly domination and control program. In a Red Ice Radio interview, Karen Hudes, a high level dissident and World Bank whistle-blower, explained that those at the tip are the Jesuits.

    The Interview with Hudes didn’t stop at the disclosure of the Jesuits. The interviewer asked, “Who controls the Jesuits?” Hudes said, “If I answer that you will end the interview right here.” The interviewer replied, “We’re wide open here. We talk about anything. Who is it?”
    Hudes’ shocking reply: “It goes off planet.”

    She then proceeded to speak of an incident where a tall, steely gray-eyed hominid with an elongated skull walked into a top-level World Bank negotiations meeting.

    I say get educated, be aware, spread the word and help build the resistance. Cut off the trickle-down from above the eye of the pyramid! The book, “Life in the Universe” is a free on-line read and concise overview of the big mamma conspiracy of them all.

    • sk

      Allen! Don’t look now…….but….there’s a steely-eyed hominid under your bed, clutching a copy of your bank statement…..and he hails from right here on our lovely blue/green marble of a planet.

  24. Jerry

    How about them apples Greg?
    https://www.bloomberg.com/news/articles/2018-07-25/ex-deutsche-bank-traders-charged-in-expanding-spoofing-probe

    Expanding probe! You can almost hear the air coming out of this bag of hot air. Turns out Rob Kirby was right about Baffin not messing around.

    • sk

      ….and his head is as round as round can be, because it needs to hold a hat!

  25. Gary

    I saw this article today: Southern California home sales crash, a warning sign to the nation

    https://www.cnbc.com/2018/07/24/southern-california-home-sales-crash-a-warning-sign-to-the-nation.html

  26. Larry White

    This news may be of some interest. Glint (gold based payment system) is about to expand from the UK into the US and Japan:

    https://lonestarwhitehouse.blogspot.com/2018/07/glint-moves-forward-with-plan-to.html

  27. Tad

    https://srsroccoreport.com/top-u-s-shale-oil-fields-decline-rate-reaches-new-record-half-million-barrels-per-day/

    “While the U.S. reached a new record of 11 million barrels of oil production per day last week, the top five shale oil fields also suffered the highest monthly decline rate ever. This is bad news for the U.S. shale industry as it must produce more and more oil each month, to keep oil production from falling.

    According to the newest EIA Drilling Productivity Report, the top five U.S. Shale Oil fields monthly oil decline rate is set to surpass a half million barrels per day in August. Thus, the companies will have to produce at last 500,000 barrels of new oil next month just to keep production flat.”

    Not an enviable position for US shale oil producers.

    • Greg Hunter

      Tad,
      Keep in mind Gull Island and ANWAR.
      Greg

      • John Little

        Greg, the Gull Island and ANWR oil fields do NOT and CANNOT produce enough oil to make up for the collapse of the shale fields.

      • Tad

        Not familiar with Gull Island. ANWAR needs to come online yesterday.

  28. Mike Mouse

    The bankers may change all the rules they want, but a hundred Mercury dines in my pocket seem pretty safe to me. Thousands of years of history and hundreds of generations of people from Asia, Europe and the Americas tells me I will out smart anything a banker can think up. My dimes say they are official USA money, and they are antiques, beautiful and rare. Like Bitcoin the supply if strictly limited.

    And where go 100 can go hundreds of thousands. Not really all that much space or trouble.

  29. paul ...

    Oh well … I guess it is back to drinking French wines (this is not going to help our trade deficit)! … https://www.zerohedge.com/news/2018-07-22/radioactive-cesium-137-fukushima-found-california-wine

    • paul ...

      Guess I’ll have to begin avoiding California fruits and vegetables also … need to look at the labels and buy only fruits and vegetables from South America (hurting the Trade deficit once again) … Trump better start building that “solar farm” in the desert Southwest so we can begin exporting “free Sun made oil” to Europe (to help our Trade deficit)!

      • paul ...

        You know … Sun made oil is “light sweet oil” … very prized oil compared to “thick tar sand sulfur laced crude” that needs a lot of refinement to make it usable … let’s get with it Trump … we need to eliminate our trade deficit!!

    • Justn Observer

      Sorry Paul…much of the France vineyards were wiped out by hail months ago !

    • Frederick

      Paul I never stopped drinking French wines lol Long Island wines are good too You should try the Wolfer Chardonnay from near my old stomping grounds in Bridgehampton

  30. John Little

    Excellent interview, Greg. Chris understands what’s coming.

  31. Anthony Australia

    My annual income tax assessment arrived. The heading was interesting indeed.

    Level of Australian Government gross debt
    This year: $533 billion Last Year: $501 billion Interest payments on gross debt this year: $16.3 billion

  32. paul ...

    By the grace of God … the tide seems to be turning against the warmongers that have evil and deliberate war making policies … to kill as many civilians as possible!! … https://www.theguardian.com/commentisfree/2018/mar/20/yemen-arms-saudi-arabia

    • paul ...

      Will Trump do the moral thing and stop supporting the warmongering Saudi’s in their extermination of the civilian population of Yemen? … not likely … as military spending is the only thing keeping the US economy afloat!! … https://www.zerohedge.com/news/2018-07-26/durable-goods-orders-disappoint-military-spending-saves-day
      You know … killing civilians to help the economy sets a bad president … before you know it it will be accepted policy to have “Death Panels” to help mitigate our economic problems … raising the age as to when seniors can collect Social Security to 67+ is likely just the first step in a more evil plan … the next step is to make sure no one reaches that age (but killing civilians to help the economy is justified for it is for the “greater good” … right??)!!

      • paul ...

        You know when neocons start talking about the “Greater Good” you know someone is going to get hurt … for “The Greater Good” is was what Hitler used as his excuse to kill the Jews (to make the world a better place) … but of course in the mist of all the bombing Hitler had a very big need to feed his invading troops (to effect regime change) … and where do you suppose he was getting “the meat” to feed his invading armies … think about it … why were the Jews “striped naked” before being methodically shot (to be hauled off to sausage factories?) … so the US helping the Saudi’s to kill civilians for “the greater good of our economy” because it helps create a market for our weapons … Is Not Morally Right!!

        • paul ...

          As Hillary would likely say … retired seniors are simply “useless eaters” … so for the “greater good” of society at large they all should be terminated at the age of 67 (whether they are healthy or not) to take the Social Security burden off the backs of the rest of us Americans … and of course … if children are taken away from their parents to live in a government “Village” … that is all it will take … as there won’t be anyone around to defend the useless “old people” from government “Death Panels”!!

  33. paul ...

    Now this is more like it … this is the way a Democrat can get elected (by not being a Demon-rat)!! … https://www.zerohedge.com/news/2018-07-26/new-york-ag-candidate-time-break-facebook-and-google

  34. Elderlearner

    Greg: Chris did an outstanding job of telling it like it is. No BS, this is what we all are thinking in the back of our minds but he came out and said it.
    The only wild card about a story that I read sometime back is – IF the U.S. came up with a method of CHEAP ENERGY that does not use fossil fuels to meet the world’s total need for energy (maybe like cheap, safe fusion home based units) America could quickly come out on top after it goes through a financial reset. You have to have some hope, right? That’s if greed doesn’t take that over as well. Chris said it correctly, what do humans do?

  35. WD

    This on Trump’s website:

    Twitter “SHADOW BANNING” prominent Republicans. Not good. We will look into this discriminatory and illegal practic… twitter.com/i/web/status/1…
    1 HOURS AGO

    VIEW ON TWITTER

    • Frederick

      Not only Twitter Facebook, Yahoo, and the rest unfortunately

  36. Mme. hedin

    I deeply respect Chris Martenson and believe his clients and subscribers are probaby a secure and well-informed bunch. Thanks for having him on, Greg. If you continue to have such great guests like Chris, we won’t have to bicker about politics, right?

    • William Stanley

      Mme., We don’t have to ever “bicker.” Respectful disagreement is not “bickering.” One thing to bear in mind, Mme., is that this is Mr. Hunter’s house. Clearly he invites discussion; but abuse should be avoided, just as one would do when invited to a friend’s house.

  37. Kirk

    Ok, here’s a question I keep asking around the ‘net and get no answer for – say TSHTF as Mr. Martenson says and you have all these physical assets, I’m a rancher for example with a pretty fair number of acres under management. What do taxing entities do, historically, when the value of the money they’re taxing for hits the floor in value? How have they behaved in other countries such as Argentina – we won’t even consider Communist Venezuela. That’s a given right there. How do you pay taxes in this type of environment? Do you just hang on by your fingertips until all civilized institutions such as law enforcement, that would come and take your property if you don’t pay taxes, breaks down and just say to heck with it, what I have is mine until someone takes it away from me? What happens if the banking institutions suddenly declare negative interest rates on us as they have in Europe?

    This is the burning question I have in my head when people start talking about a major fall down the rabbit hole this Fall and taxes come due.

    • Greg Hunter

      Kirk,
      This is why you need liquid hard assets and also keep some cash too. Cash will work really good for awhile after a real crash or credit crisis.
      Greg

      • Kirk

        Incredible to hear from you Greg. Big fan.

        Here’s hoping you’re right but around our area here in West Texas, taxes are going up by the tens and twenties in percentage points. We’re hoping the ballot box will save us but schools have an insatiable appetite for tax payers’ money and they’re great at guilting people into voting their way. Having that much cash on hand could make LEOs take a strong look at you. Who NEEDS that much cash anyway but drug dealers? We pay our taxes in cash as do many here but by the second year of such a crash who knows what will be happening? I actually find myself hoping, praying for a massive financial implosion that will kill off this massive amount of credit that is fueling the real estate bubble that, in turn, fuels the tax increases we have hanging over our heads like the Sword of Damocles.

        Thank you for your answer and soldier on!

      • H. Craig Bradley

        Greg,

        We already had our credit crisis back in 2008. We are seeing ghosts today of crisis past. Time to move ahead and evolve with the times. Rules can change. We each have some more time before we pass-on. Why worry about stuff you can not change or personally control ? Seems futile to me.

        Preppers prep for various SHTF scenarios ( End of the World ). Seldom does anything like that actually happen except in a localized situation such as Hurricane Katrina in New Orleans, LA. Truth is, you are never entirely ready for such radical if not rare disturbances, natural or man made. Not everyone will die. There are always survivors or the Lucky.

        Just face it if and when it happens to you in your location or area. Otherwise, its not YOUR problem. Watch it far away (in Missouri) in your living room T.V. while drinking a cold one. Donate money to survivors of the Drought in 4- Corners or California if you like. Count your blessings. It all will “work out” in the bye and bye.

    • John

      Kirk,

      I think some of this is based on your age. Does your land provide a source of income? My ancestors owned one of the largest plantations in Virginia prior to the Civil War and after the war when the land was no longer good for farming it was sold off and became the basis for establishing one of the largest construction firms on the east coast for the next 100 years. In short, their land was a source of revenue and when revenue was no longer consistent the land was transitioned to another viable revenue generating enterprise. I think this where owning gold, silver, platinum and land is going to help people in a reset – transitioning to a new world reality that is not based on debt and leverage. IMHO, I feel that most people need to get small – smaller house, basic transportation, no debt or less of it, portable and liquid assets – less things that can be taxed and therefore confiscated if payments can’t be made. I am not a big fan of real estate in a rising rate environment. I have land as well but also worry about localities looking at it as a source of income. I can’t afford to allow my land to be a financial drain on my resources as I near retirement.

  38. RogerB

    For those who really want to understand America’s collapse, I suggest reading up on the crash of GermanWings Flight 1525 in 2015, in French territory.

    “The following day, authorities again searched Lubitz’s home, where they found evidence he was taking prescription drugs and suffered from a psychosomatic illness.[117][118] Criminal investigators said Lubitz’s web searches on his tablet computer in the days leading up to the crash included “ways to commit suicide” and “cockpit doors and their security provisions”.[91][92][93] Prosecutor Brice Robin said doctors had told him Lubitz should not have been flying, but medical secrecy requirements prevented this information from being made available to Germanwings.[119][120]

    In the weeks before the BEA’s preliminary report, the investigation into Lubitz found he had been treated for suicidal tendencies prior to his training as a commercial pilot and had been temporarily denied a US pilot’s license because of these treatments for depression.[121][122][123] The final report of the BEA confirmed the preliminary report’s findings, saying the co-pilot began showing symptoms of psychotic depression.[2][f] For five years, Lubitz had frequently been unable to sleep because of what he believed were vision problems; he consulted over forty doctors and feared he was going blind.[119][120][124] Motivated by the fear that blindness would cause him to lose his pilot’s licence, he began conducting online research about methods of committing suicide before deciding to crash Flight 9525.[2][67][120][124][125]”

    https://en.wikipedia.org/wiki/Germanwings_Flight_9525

    What was the “psycho-somatic” illness ? Quite simply, Mr. Lubitz was experiencing a bad outcome from LASIK eye surgery.

    As you can note from the description of the crash, any mention of Western biotech being responsible for the crash, has been edited off the Wikipedia website.

    In short, Adverse Event reporting re. Western biotech has disappeared in the US.

    Why does retired FDA director Dr. Waxler want to shut down the LASIK industry ?

    http://HelpStopLASIK.com/

    It’s directly related to the crash of Germanwings 1525.

    • Kirk

      It’s interesting, John, that you reference my age. I’m no “old-timer” unless you’re a millennial but I have committed the primary fault of many investors in that I’ve fallen in love with that which we own and by that I mean the land itself. We’re third generation ranchers on our property and are seeing those properties around us fall to the real estate developers who are sucking all the water out of the ground in an arid region that can only sustain “X” number of people. Wells are dropping and going dry all over. The more people taking water for pools and treating the resource like they’re on a municipal water supply the less of a drought condition it takes to produce a bad situation – and then what happens to everyone’ s precious property values then? We’ve begun carrying water from one end of the ranch to the other which has never been required before and guess what’s on the other side of our fence line? A development with a half dozen McMansions with more to come and a huge well for them.

      The more people there are in the world the more serious the resource wars are going to be. We’ve passed the point where we can have room to expand which is what we derived our sense of security and happiness from in the past. Now we’re taking from each other in beggar-thy-neighbor fashion as people come in, take their profits from the greater fools and move on leaving in their wake increased taxes and devastated lands for the people that call these places “homes” rather than “investments”.

      • Greg Hunter

        Kirk,
        Catherine Austin Fitts, who is a financial advisor to some of the richest people in the world says “In the last ten years rich people have doubled their land holdings.” I think if you own land, and a working ranch, you are as about as ready as you can get.
        Greg

        • Kirk

          Yes, I catch her interviews when they occur as well. I feel that we’re well over the edge of an abyss and have a long way to go before we hit bottom. Who is going to hold on to what assets survive the fall is yet to be determined as it is early in the game. Certainly those with little to no debt will fair much better than others but, as I mentioned earlier, my main fear is “official” authorities becoming part of the free-for-all that scramble for valuable assets as it becomes more apparent what is representing true value. Certainly enhancing the productivity of our our land is advisable and I’m hoping our taxing entities won’t wind up holding all the land in the end as the current list of enhancements are based on “customers” who have money to spend. If everyone is out of money or what we view as “money” has no value then we’ll all be in a quandary for sure.

          Mr. Wild’s submission, below, and his article is very good, as well. I often wonder when food producers will begin demanding payment in junk silver or even gold coins as the value of the dollar continues its descent. A $150 head of livestock now will be roughly ten silver dollars and probably much less as the value of silver is allowed to increase naturally. This is why prices were so low in generations past when there was still room for economic expansion.

          Thanks again so much for your discussion and ideas.

  39. B Wilds

    In a liquidity crisis, people who feel they cannot get reasonable returns on physical or ormal financial investments place their assets in short-term cash bank accounts, high-risk stocks, or hoard it rather than making long-term investments. While a liquidity trap can and often does lead to no growth and deflation it is not a certainty.

    The wild card, in my opinion, is related to the diminished confidence so many people have towards fiat currency. The fear money was about to become worthless which is explained in the article below could unleash inflation across the globe.

    http://brucewilds.blogspot.com/2018/05/liquidity-traps-wild-potential-to.html

  40. Joseph Fougerousse

    Chris Martenson offers advice of value only for those who possess wealth that can be converted to hard assets—a very small percentage of the population. Most people are struggling on two salaries to make mortgage and utility payments, clothe and educate their kids, and pay unexpected repair and maintenance costs. They have no maneuverable space in which to position themselves for the inevitable credit collapse.

    Chris makes light of this problem by stating that we just got a little out of hand with the money printing, a human flaw that must occasionally be adjusted back out of the economy, misery and suffering notwithstanding. So for him this is just a game of musical chairs in which the victims get left out in the cold while he takes a seat. Getting on the right side of the crash is all that’s important to him. He shows no empathy for the unfortunate many.

    And notice, Greg, how quickly he dismissed your suggestion to issue non-interest-bearing Treasury bills—the only real solution—by telling us the IMF would never approve it. I guess Chris sees nothing wrong with an international banking clique controlling national and international politics and creating economic boom-bust cycles for profit and control.

    I can agree with Chris on one thing. This next credit collapse could be the worst we’ve ever seen. I fear many of us will not survive with our lives. Maybe it’s time to start thinking outside the box, which Chris seems unwilling or unable to do. The time has come for public banking. Let’s start at the State level. The federal level is too corrupt to bother trying to fix. What has already proved successful for North Dakota can work in any state. Let the Bank of North Dakota be the model.

  41. Kirk

    I know this is an ad for a book and more but if the lead-in story is correct it’s basically what I’m fearing here and all over. Do we really own our property? HAH! Not for a very long time.
    Bankrupt Philadelphia plunders its property owners for cash
    https://www.sovereignman.com/trends/bankrupt-philadelphia-plunders-its-property-owners-for-cash-24007/?utm_medium=email&utm_source=sm_notes&utm_campaign=notes&utm_content=2018730_phil_pension

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