Paul Craig Roberts was Assistant Treasury Secretary in the Reagan Administration, and he warns, “America is going to crash big time.” Dr. Roberts says, “The real problem is not the fiscal cliff.” The dollar is on very thin ice. Dr. Roberts says, “They can’t stop hemorrhaging the debt, and the way they cover that is to hemorrhage the dollar.” In this real time scenario, Dr. Roberts goes on to say, “When you have debt pouring out and dollars pouring out, the dollar can’t keep its value forever. At some point, people will run away from it, and it will start abroad.” Dr. Roberts thinks there is “an impending collapse of the exchange value,” and the U.S. dollar could unexpectedly plunge in buying power. Dr. Roberts contends, “All of a sudden, people walk into Walmart, as usual, and they think they’ve walked into Neiman Marcus.” Dr. Roberts says there are no quick fixes to the bulging debt because “there’s no way to close this deficit when corporations are moving the tax base off-shore.” Join Greg Hunter as he goes One-on-One with Dr. Paul Craig Roberts.

 

  1. I love Paul, he is astute and funny, all at the same time. The man knows his stuff. The box cutter joke hit my funny bone. It is Ron Paul’s foreign policy they are suggesting, no unprovoked warring and reduced size of the military. There is no reason for the U.S. to spend more on the military than all other countries combined, and that is not to even mention the black budgets…i.e. the Rumsfeld announcement of the “missing” 2.3 TRILLION dollars in 2001. One must have a sense of humor, especially in these rough times.

    • I also like Ron Paul! He was the most honest and best candidate during the USA’s elections but too bad that no one has listened to his words and the sheople says that he is nonsense. It’s like if the sheople don’t want a founding father as the USA’s president.

  2. Those who don’t study financial history are condemned to go bankrupt just like the last jacka** who screwed the pooch with paper money and debt. 
    This is a good interview since it covers so many topics including the formation of an alternate reserve currency.

    When  Reagan was elected he appointed David Stockman as the head of the Office of Management and Budget.  Reagan tasked him to walk his fiscal conservancy talk.  Stockman tried but failed, pistol whipped by the Congress.  After my lobby group sent him to the coat closet when he went after one of our sacred cows, Stockman’s time in the sun was over. 

    If I was to listen to just two people who know their stuff, it would be Paul Craig Roberts and David Stockman. They were  there at the beginning of our fiscal fiasco when our national debt was a meager $900 billion.
    Now our deficit is $1.4 trillion; interest on the debt at $500 billion and the Mooch Class entitlement payments just hit $1 trillion a year. Social Security and Medicare cost $725 billion a year.  War cost $700 billion a year. Other stuff like Federal payroll $500 billion.  What do you plan to cut?  Cutting anything is like the financial and political equivalent of cutting your carotid
    When these two men speak in their area of particular expertise they tell us everything we need to know about precious metals, even if it’s by inference.  But they also talk about PMs and wisely so.
    PS   I do not plan to sell any physical metals but if I did and did so at a profit I would pay no taxes. I CONSIDER THE CENTRAL GOVERNMENT, CENTRAL BANKS/FEDERAL RESERVE, US TREASURY AND IRS AS CRIMINAL ORGANIZATIONS.

    • Exactly! At least people should know that gold and silver are the real money and that fiat currencies will eventually collapse one day which will destroy all their savings in dollars. The sheople should at least also know the precious metals’ fundamentals.

  3. If the USA will crash, collapse or whatever you call it because it is mathematically proven that it will happen and it inevitable. In my opinion, hyperinflation will begin when the Federal Reserve reintroduce the 500$ bill or the 1000$ bill in circulation.

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