Money manager Peter Schiff thinks the nomination of Janet Yellen as Fed Chairman is “very bullish for gold.”
Yellen has admitted she did not see the 2008 financial meltdown coming which was caused by an enormous housing bubble. Schiff goes on to say, “Not only was she not warning about the housing bubble, she was trying to quiet some of the concerns other people had. She was saying, ‘hey some people are worried,’ but really we shouldn’t worry.” When it comes to raising the so-called debt ceiling, Schiff contends, “A limit to the growth of government is bad for gold. What’s good for gold is raising the debt ceiling . . . more borrowing, more money printing. . . . We’ll borrow as much money as the world is dumb enough to lend us. It’s really the lending ceiling.” All the borrowing and money printing is destroying the buying power of the U.S. dollar. Schiff predicts, “Americans’ standard of living is going to move dramatically lower. . . . We’re not going to be buying a lot of new things because stuff is going to be very expensive.” Schiff contends, “This is just a question of time until the illusion is pierced. When the collapse happens, that’s it–the party’s over. America is going to have to live within its means.” Join Greg Hunter as he goes One-on-One with Peter Schiff. [Read more...]
Money manager Peter Schiff thinks the nomination of Janet Yellen as Fed Chairman is “very bullish for gold.”
Former World Bank Senior Counsel Karen Hudes says, “It’s pretty clear where we’re headed, and that is something called permanent gold backwardation. That’s a fancy word for people losing confidence in paper currency. That means the value of currency in the future is less than today.” How bad is “permanent gold backwardation”? Hudes, who spent 20 years at the World Bank, says, “This is not just a bad event. This is like the meltdown of all meltdowns. What it means is you cannot finance international trade.” Hudes goes on to say, “It’s going to make any depression we ever had (the 30’s, 2008) pale in comparison.” Hudes says even though the credit ratings agencies rate U.S. debt high, they know just the opposite is true. Hudes contends, “This is actually an underhanded move because they know the U.S. dollar is going to lose its status as an international currency.” What would that look like to the man on the street? Hudes predicts, “Prices would change on a daily basis. They would double. The number of families that would be employed would be in the minority . . . there would be lawlessness.” Join Greg Hunter as he goes One-on-One with former World Bank lawyer Karen Hudes. [Read more...]
Former Goldman Sachs banker Nomi Prins says the financial system is more risky than before the 2008 meltdown. Prins, who wrote the best-seller, “It Takes a Pillage,” says, “We have greater concentration of . . . financial risk within fewer institutions. So, we’re in a situation where there is moral hazard, but there is more recklessness beneath the surface because they know they can get away with it.” Prins sees the recent op-ed piece by Russian President Vladimir Putin in the New York Times as a warning. She says, “To use Obama’s term, ‘American exceptionalism,’ as an excuse for that kind of combat, doesn’t negate the risk associated with it.” So, what could a U.S. war in Syria do to the fragile global economy? Prins contends, “It could implode and have serious ramifications on the financial systems starting with derivatives and working on outward.” Prins goes on to say, “It’s a tremendously dangerous time to be moving forward with aggression rather than moving backwards with diplomacy.” As far as the stock market goes, Prins says, “I would not put my money in the stock market right now. . . I would stay away from it because that is flimsy ground.” Join Greg Hunter as he goes One-on-One with best-selling author & former Goldman Sachs banker Nomi Prins. [Read more...]
Former Assistant Treasury Secretary Dr. Paul Craig Roberts says, “Let’s cut to the chase. It’s got nothing to do with Syria. The reason they are looking for a fabricated excuse to attack Assad is to continue the radicalization of Muslims in the hopes this spreads into the Muslim populations of Russia and China. . . .
Washington intends to weaken the two giants it cannot run over.” Dr. Roberts goes on to warn, “I think this will lead to World War III, and that, of course, will be nuclear.” One big dilemma Dr. Roberts points out, “The issue is will any aspect of the government have any credibility if they back Obama when the rest of the world already knows he’s lying through his teeth? . . . This time the big lie didn’t work like it did in Iraq.” On the economic front, Dr. Roberts worries, “If they start abandoning the dollar, the collapse of the exchange rate will bring down the whole house of cards in the United States. The Fed will lose control. The banks will fail. Prices will rise dramatically. People will essentially not be able to pay their bills. It will be an unbelievable mess.”
What would happen to gold with a Syrian war? Dr. Roberts says, “If you get a real collapse in the dollar, gold could be $30,000 an ounce. Who knows?” Join Greg Hunter as he goes One-on-One with economist Dr. Paul Craig Roberts. [Read more...]
TRUTH Journalist Greg Hunter from USAWatchdog joins the SGTReport to talk about everything from the Nasdaq ‘Glitch” to the lies of CFR-member mainstream mockingbirds to currency wars to the propaganda designed to take us into yet another war, this time in Syria – and potentially right into WW3. [Read more...]
Money manager Peter Schiff claims the real U.S. Gross Domestic Product (GDP) is closer to “$13 trillion” than the official government number of “$16.6 trillion.”
That is a discrepancy of $3.6 trillion! Schiff explains, “The government keeps telling us the economy is getting bigger, but millions of Americans are leaving the workforce. We’ve got record numbers of people on food stamps . . . and part-time jobs are replacing full-time jobs. How is that consistent with a growing economy? It’s not.” Schiff goes on to say, “It just makes perfect sense to me the economy is shrinking, yet the government is using phony numbers to try to convince us a shrinking economy is growing.” So, how does a shrinking economy pay off an enormous growing debt? Schiff contends, “So, when interest rates go up because the world realizes we have too much debt relative to the size of our economy, consumers can’t spend anymore, and now the economy collapses in size and the debt balloons . . . [Read more...]
Jim Willie says, “We’re leading up to a big event. We are having breakdowns in numerous structural elements of the financial system. We’re seeing a chain reaction of breakdown events in progress.” Fed Chief Ben Bernanke talked about tapering the money printing to buy bonds two months ago. Dr Willie contends, “The ‘taper talk’ was a stress test to find out what in the world would break down, and the answer was everything!” Dr. Willie predicts, “In the United States, we are going to have shortages across the board, and that includes gold and silver. Just think food and gasoline. That’s when the riots are going to start. You are going to see out of control chaos and the government stepping in to restore order. . . . Shortages and price inflation are going to drive people out of their minds.” Join Greg Hunter for an in-depth One-on-One interview with Dr. Jim Willie. [Read more...]
Former Assistant Treasury Secretary Paul Craig Roberts says, “The country is not being run by the President. It is being run by spy agencies and private interest groups, Wall Street and military security complex . . .They run the country. The President is a puppet, a figurehead.” Dr. Roberts contends, “If you are a lawless state, which the United States is, it obeys no international law. It does not obey the Geneva Convention . . . It tortures people. It doesn’t obey the Constitution. It doesn’t obey anything. It does what it wants. . . . If you are a lawless state, you disguise yourself as a democracy.” Former President Jimmy Carter agrees. Just last week, Carter said, “The U.S. has no functioning democracy at this moment.” Why hasn’t the mainstream media picked up this astounding comment from a former Democratic President? Dr. Roberts says, “Five firms now own what used to be a large dispersed independent media. Nobody can open their mouth, they’d get fired. They have become a propaganda ministry for government and corporations.” Dr. Roberts goes on to say, “My prediction or expectation is by winter, the second downturn of the Great Recession will be in place. Unemployment will explode, more foreclosures are coming. It’s going to be worse than the Great Depression.” Join Greg Hunter as he goes One-on-One with economist Dr. Paul Craig Roberts. [Read more...]
Bix Weir is a tireless advocate for manipulation-free gold and silver markets. Weir says, “They are printing money, and the reason to control the price of gold is to control the perception the U.S. dollar is a sound currency.”
The manipulation game is not going to go on much longer. Weir proclaims, “We’re at a point in our system and in the manipulation where people within the Fed and within our government are ready to pull the plug on the game and basically crash the system.” Weir goes on to say, “You’re looking at a complete wipeout of all debt in all banks, all virtual assets, virtual assets meaning electronic blips on a 401k statement and checking and savings accounts.” The reason, according to Weir, is simple. He says, “We are the biggest debtor nation in the world. If we collapse the debt now and erase all debt, we win.” When could it all start to fall apart? Weir predicts “the August-September time frame.” Join Greg Hunter for this controversial interview with Bix Weir. [Read more...]
Employers are cutting full-time employees back to part-time to avoid the requirement of providing health insurance under Obama Care.
Trader Karl Denninger says, “As the Obama Administration runs against the economic reality of what they passed, they are now trying to find ways to dodge it. . . . The Obama Administration’s reaction to this has been to unilaterally, and by the way illegally, put off the imposition of mandate.” This is not going to save the teetering economy as Denninger contends, “Bernanke has lost control of the bond market and, in general, his policy. . . . The reality is the Fed is not in charge, and when that confidence level breaks, you are going to see all hell break loose.” Denninger goes on to predict, “We are setting up for a collapse that is going to be worse than 1929, and it’s going to come sometime within the next two years. It could come as soon as the next couple of months, but it is going to happen, and there’s nothing that is going to stop it.” Join Greg Hunter as he goes One-on-One with Karl Denninger. [Read more...]
Former Assistant Treasury Secretary Dr. Paul Craig Roberts says new Trade deals with the EU and Asia are meant to backstop the dollar.
Dr. Roberts contends, “Washington is arranging that many countries have a stake in supporting the dollar. That frees them from the consequences of the printing press for now and a number of years.” It may already be working as Roberts points to the recent plight of NSA leaker Edward Snowden. He says, “Snowden tells the whole world the Americans are listening in on your every communication. You have no privacy whatsoever from the Americans and, yet, nobody will step forward and give him asylum. . . . They’d rather have American money than defend the guy who brings them the truth.” Not every country thinks the U.S. will be successful in saving the dollar. Dr. Roberts points out, “China is importing a tremendous amount of gold. They seem to not have much confidence in the longevity of American plans.” Even so, a dollar crash might be pushed back. Dr. Roberts contends, “They can put that off for a long time if these various schemes work.” And if they don’t work? Roberts says, “Well, there’s going to be a big blowup. I think there will be a big blowup anyhow.” Join Greg Hunter as he goes One-on-One with economist Dr. Paul Craig Roberts. [Read more...]
Hard asset expert Tom Cloud has spotted a clear trend with “the lions share” of his 2,000 high net worth clients.
Cloud says, “I had a client the other day who liquidated a several million dollar position in an ETF because he said it’s time to put gold and silver in my hand. . . . People, the wealthier they are, want to get physical gold and silver in their hands.” Cloud is far from alone in his observation. Cloud reports, “I was talking to a major wholesaler last week, when the price was going down, and I asked how many orders have you had today? He said 560. I asked how many have sold to you? He said 20.” Cloud says delivery times for gold and silver bullion are unusually long. When supplies of precious metals are plentiful, Cloud says, “It would be in my hand in three to five days. . . Now, depending on the product, it’s two and a half to six weeks.” Cloud says the only two other times supply has been this tight was “1980 and 2008.” Cloud contends, “Supplies are tight and fear is high. I see it getting worse this fall.” Join Greg Hunter as he goes One-on-One with Tom Cloud. [Read more...]
Financial analyst Jim Willie says there is no way the Fed is going to stop printing money or even “taper” it. He charges, “Everything is dependent on Fed support. They know if they take it away, they’re going to create a black hole. The Treasury bond is the greatest asset bubble in history. It’s at least twice as large as the housing and mortgage bubble, maybe three or four times as large.”
Willie goes on to say, “I think the Fed’s balance sheet is going to expand further, not contract.” As far as the gold price, Dr. Willie says what you are seeing now is not real. Dr. Willie says, “In order for the real gold price to reflect true value, we must shut down the COMEX. Don’t worry; they’re helping themselves to shut it down by keeping the price down and causing a fire sale around the world.” Willie says a big upward move is coming in gold. What could be the trigger? Willie says, “It might be a default for gold delivery . . . at the same time that a big bank fails. I am hearing every single night there are three big banks that are running the risk of failure.” Willie predicts, “If we have another repeat of Lehman, it’s going to be 10 times larger. It’s not going to be containable.” [Read more...]
Top trends forecaster Gerald Celente says NSA leaker Edward Snowden is a non-event. Celente charges, “What did Snowden say that we didn’t write about over a year ago.”
Celente says the real stories are the imploding economy and coming war. Another crash is coming, and Celente predicts, “It will be worse than the panic of ’08. It will be deeper. It will be more painful because they will not be able to pull off the stimulus game again.” Celente goes on to say, “We are going into the Greatest Depression, but they will try to boost it in some way, and that’s when gold and silver prices will skyrocket.” Celente also predicts war in the Middle East is a lock. Celente says, “When all else fails, they will take us to war. We are seeing war drums beating louder and louder throughout the Middle East as the Middle East is collapsing.” As far as a real recovery is concerned, Celente boldly states, “The business of America has become war, and as long as business is war, there is not going to be any recovery.” Join Greg Hunter as he goes One-on-One with Gerald Celente. [Read more...]
Bob Wiedemer, author of “The Aftershock Investor,” says, “People are defiantly in denial about what we’re doing. . . . Nobody mentions the $85 billion a month we’re printing now. . . . We’ve only printed about $800 billion in the last 100 years. We’re going to print more than that next year. So, literally 100 years of printing next year.” Wiedemer says you think of your mortgage as rent because you will never get it back. Wiedemer contends, “When interest rates rise, the value of homes drop. We’re assuming interest rates will never rise. Well, when you print as much money as were talking about, it’s inevitable. Interest rates will absolutely rise one way or another.” In his latest book, Wiedemer says to get out of stocks and bonds. He predicts, “Between now and 2014, I think you’re going to fall out of bed. . . . Stock investors could take a very big hit—well over 50%.” Wiedemer calls gold “the once and future king” and goes on to predict “gold will go to $6,000 to $7,000 per ounce.” Join Greg Hunter as he goes One-on-One with Bob Wiedemer. [Read more...]