Peter Schiff : People used to buy houses without any money , the government caused the collapse
Peter Schiff is an
economic forecaster & investment advisor
influenced by the free market Austrian
School of Economics is one of the few
forecasters who accurately and publicly
predicted the 2007 housing market
collapsed and subsequent 2008 financial
crisis his latest best-selling book the
real crash Americans coming bankruptcy
how to save yourself and your country
will understand the 2008 crisis was just
a prelude to a larger sovereign debt
crisis of the united states that may
lead a collapse of the US dollar either
recommends long-term investment in
foreign markets with sound fiscal
policies as well as global commodities
including physical precious metals and
we have a more comprehensive bio
including the titles of all these books
and the names of all these companies and
websites right on our website directly
for westport connecticut i would like to
welcome Peter shift hell Peter welcome
how are you oh I'm well how're you doing
today
excellent i'm sure privilege because
from four years and i have to tell you
right from the beginning you stated
years ago that there was going to be a
real estate bubble and many people
ignored you including me so I'll be
humble about it
so what would begin with dad specific
fact what prompted you back then to
predict that well I mean I understood
the offensive said policy i knew that
real estate in particular was
particularly sensitive to interest rates
because most people when they buy a
house they say by the monthly payment
they buy the mortgage payment and so as
interest rates were depressed it kept
more is rates low US housing prices
rising and then a lot of people were
taking advantage of adjustable rate
mortgages which were particularly
inexpensive and a lot of more interest
only where people weren't even making
payments of friends
well they just paid the interest and
when the interest was extremely low
thanks to the Fed people were able to
buy much larger houses are much more
expensive houses then they would
ordinarily be able to afford and so I
saw this and I saw the impact that
rising real estate prices was having on
the economy on consumption on the
ability of people to transform their
real-estate riches into spendable cash
by refinancing and turning their homes
into ATM machines and I saw the lending
standards going out the window and you
know the proliferation of no doc no
downpayment mortgages where people could
buy houses without any money
yeah in fact you're so certain security
circumstances where you can get cashback
you can actually buy a house and get
money I so it was it was really a crazy
time and it was amazing how few people
could see what the government was doing
4:48
with the Fed was doing to the market and
4:51
of course then you have the direct
4:53
intervention that government was
4:54
guaranteeing mortgages and in fact the
4:57
biggest buyer of subprime mortgages were
4:59
fannie mae and freddie mac which is one
5:01
of the reasons they basically went
5:02
bankrupt which was part of my
5:03
predictions but the government was
5:05
co-signing everybody's mortgage and of
5:07
course they still do that you know I and
5:10
so this was very distortive to the free
5:13
market so more people were buying houses
5:16
and would hop without it you know with
5:18
apples out all that government help and
5:20
they were paying prices that were absurd
5:23
and that never would exist in a free
5:24
market and so I knew this was going to
5:27
collapse so I new prices would collapse
5:29
and I knew that there would be an
5:31
ensuing financial crisis because as real
5:33
estate prices claps and mortgages went
5:36
bad
5:37
I and people started to fall on their
5:39
mortgages that this would create a
5:41
banking crisis because all those
5:43
mortgages are the liabilities in the
5:45
banking sector or assets rather to the
5:47
banks and it's all of a sudden those
5:49
assets are not there the whole bank
5:52
collapses because they need those assets
5:54
to support apple structure so I saw this
5:56
and you know I help position people the
5:59
prophet and profited through shorting
6:02
the market of course you know
6:03
they Michael Lewis wrote a book the big
6:06
short they made a movie about it but not
6:08
that many people saw that but you know
6:10
to me it was very obvious but what's
6:13
more important is not that crisis that
6:16
everybody mixed but the even bigger
6:18
crisis that everybody is about to miss
6:21
you know it's the same people and it's
6:24
the same forces at play and in fact all
6:28
the problems that led to the 2008
6:31
financial crisis have been exacerbated
6:34
since that crisis so we haven't solved
6:37
the problems we've made them all worse
6:38
and so it's the same disease only we now
6:42
have a a much more severe case of that
6:46
disease and it's about to become
6:48
inflamed and you know a lot of people
6:50
are very optimistic about Donald Trump
6:53
now of course these people were
6:54
petrified of a trump presidency right up
6:57
until the point he was elected now
6:58
everybody's you for at least in the
7:00
market but the reason that I you know I
7:03
thought Trump was probably going to win
7:05
because I understood what most people in
7:09
the markets did not and that was that
7:10
the recovery that has been you know how
7:14
much hyped up by the media and by the
7:16
Fed and by obama and you know I knew
7:19
that it was phony I knew that there was
7:21
no real economic growth that we had a
7:23
reflected bubble masquerading as growth
7:26
and I knew that beneath the superficial
7:30
layer of manufacturers statistics was a
7:33
very weak economy and I knew a lot of
7:35
people would be voting you know for trop
7:38
out of frustration out of anger out of
7:41
protest because people standard of
7:43
living was falling and I often said that
7:45
this is the first recovery in history to
7:48
be worse than the recession that were
7:50
supposedly recovering from and so I
7:53
thoughts from could win but of course
7:55
the economic problems that are the
7:59
reason from was elected have not been
8:02
solved because we elected him nor is he
8:04
going to solve them
8:06
the optimism is unfounded just like
8:09
people were very hopeful that Barack
8:10
Obama would make things better and he
8:13
made things worse and now you have a lot
8:15
of false hope
8:16
out of surrounding Donald Trump but we
8:18
have some serious serious economic
8:20
problems that need to be tackled before
8:23
we can make any legitimate progress but
8:26
nobody has the stomach for tackling I
8:28
mean president electron when he ran he
8:31
did not run on austerity program he was
8:34
in promising you know government
8:36
spending cards and that you know we have
8:38
to suck it up and work harder and spend
8:41
less and save more and rebuild the
8:43
economy he just promised tax cuts and
8:46
more government spending and you know
8:48
the equivalent of you know you're
8:50
overweight but I've got a diet of you
8:53
know cupcakes and ice cream and you know
8:56
you're going to be able to lose weight
8:57
it wasn't like you're going to have to
8:59
you know go to the gym and eat salad
9:02
it was yeah just to let me and I'm going
9:04
to make everything great and you know
9:07
it's not that simple you know it's
9:09
interesting because days before the
9:11
election analysts were predicting that
9:14
is trouble word win five percent of the
9:17
market would just collapse that night
9:19
and that's exactly what happened that
9:21
night actually shorted the market
9:23
because I thought I don't get it
9:26
Trump lunch and less regulation less
9:28
taxes which is parallel to what wall
9:30
street once and hillary wants the
9:32
opposite higher taxes more regulation
9:34
why did that was a disconnect there with
9:37
the media
9:38
well you know obviously one of the
9:40
reasons is the media wanted to create a
9:42
situation where people were worried
9:44
about voting for Trump so that they
9:46
wouldn't do it right all that data
9:47
through these terrible of trumpets
9:49
elected so we better not vote for like
9:51
breakfast to have norway
9:52
yeah but I always said to that like
9:54
Trump if you know if you want to be in
9:58
the market you know Trump is more
10:00
business-friendly at least is rhetoric
10:02
right he's talking about less regulation
10:04
lower taxes and Hillary's talk about
10:06
more regulation higher taxes so how can
10:08
that be good but i think people were
10:11
worried about the uncertainty of
10:13
updating the status quo about
10:14
protectionism or things like that
10:17
because it's a very fragile system i
10:19
mean it's a whole thing is a gigantic
10:21
bubble in fact interestingly enough
10:22
Donald Trump talk about the bubble in
10:25
the stock market when he was a candidate
10:27
now is claiming credit for the
10:30
rally is like excited about the market
10:32
going up but you know if it was a bubble
10:35
before he was elected it's a bigger
10:37
bubble now I mean it's this more more
10:39
air in it out so no idea i didn't
10:42
understand the reasoning why the market
10:46
should go down and Trump one I mean
10:47
there are other reasons for the market
10:49
to go down like it's very expensive but
10:52
Trump is more market-friendly than
10:55
Clinton but the markets going to have a
10:57
lot of serious problems but yes in
10:59
corporate tax rates or cut then that
11:01
would increase the evaluation of stocks
11:04
but stocks have a lot of debt and I
11:07
think Americans are broke and as the
11:10
economy weekends and interest rates rise
11:13
I ultimately dollars going to fall and
11:16
it's gonna be very tough for the the US
11:18
stock market but it still might go up in
11:21
nominal terms but it's not going to make
11:23
any headway in real terms speaking of
11:26
the bubble the dow is racing to 20,000
11:29
lbs MPs already at an all-time high
11:31
getting 29 points today two words come
11:34
to mind from alan greenspan irrational
11:36
superstition
11:37
let's begin with the market are they
11:39
going to continue going up for some time
11:41
well I think they'll go up for a bit i
11:44
mean i don't know how much longer I
11:46
don't go up at this pace because the
11:48
markets are you anticipating things that
11:51
are impossible so it is irrational
11:53
belief but again the people that are
11:56
buying stocks don't like they're going
11:59
out of style and because Trump was
12:01
elected with the same people that were
12:03
saying well if Trump wins it can be
12:05
terrible for stock so happy you know
12:07
it's just it doesn't really matter just
12:08
a narrative and and and they're making
12:10
their trying to spin it in a positive
12:12
way guess that's what Wall Street does
12:14
and i do think there were some shorts in
12:17
the market that are obviously getting
12:18
squeezed this year and rally people
12:21
people are trying to maybe reposition to
12:23
look a little better as the year wraps
12:25
up but you know that is talking rate
12:29
hikes they might hydrates next week she
12:32
long-term interest rates meanwhile have
12:34
already moved up considerably and they
12:37
could be moving up much more which is
12:40
going to be a huge headwind for the US
12:42
economy because we have
12:44
so much debt and because we have an
12:46
enormous amount of death as interest
12:48
rates go up we have to spend a lot more
12:50
money paying the interest on that debt
12:52
and so forth if we're spending all this
12:54
money paying interest on what we
12:56
borrowed there's a lot less money
12:57
leftover offer you know the rapid
13:00
economic growth or what other people we
13:02
know the paper current consumption
13:03
because you're still paying off prior
13:06
consumption
13:07
I have no doubt i think the market is
13:09
already digested dead yell and will say
13:11
bed interest rate is going up a quarter
13:14
percent tap come December do you think
13:17
she'll also mentioned future quarters
13:19
and I i think that the fed will try to
13:23
downplay the expectations for additional
13:25
tightening but what's more important is
13:28
the lawyer under the curve and that's
13:30
what's really starting to move to our
13:32
commodity prices are rising oil prices
13:35
back about the accomplishment very
13:37
strong are commodities in general I
13:39
think arising I think inflation is
13:41
getting ready to accelerate and you know
13:43
this is going to just make the pain
13:46
greater for the average American has
13:47
already you know suffering a rising cost
13:50
of living while his you know paychecks
13:53
have been diminished and you know I
13:55
don't see any quick fish is here on the
13:57
job front
13:57
you know I mean we're still hemorrhaging
13:59
a full-time jobs and creating these
14:03
little gang part-time jobs and that's
14:05
not going to you know turn around you
14:08
know when Trump is inaugurated will be
14:10
ever see maybe a fraction maybe a little
14:14
high number of jobs coming back to the
14:17
United States based on what's happening
14:19
today
14:19
repent reiation of funds companies
14:22
saying they'll bring money back here is
14:25
that a reality was just bringing money
14:27
back isn't going to necessarily bring
14:29
any jobs back
14:30
you know we just bring the money home
14:32
and maybe companies pay out bigger
14:34
dividends at Americans spend that to buy
14:36
more important products or maybe they
14:38
use it to buy back stock key but i don't
14:41
really see a big increase in productive
14:44
employment I mean we have you know a lot
14:46
of be regulating to do and Trump talks
14:50
about it but will you know let's see
14:51
what happens i mean it's you know
14:53
regulations are rarely rollback
14:57
no government spending needs to be cut
14:59
Reagan couldn't even pull that off and
15:02
you know Reagan promised to cut spending
15:04
Trump didn't even make those promises
15:06
here he talked about increasing spending
15:08
and and you know that's likely to happen
15:10
so we're likely to get some type of
15:13
middle-class tax cut and some type of
15:16
government spending increases all that
15:19
is just going to add to the deficit and
15:21
inflation and ultimately you know lower
15:23
standards of living in and you know
15:25
destroy value of the dollar so before
15:29
president obama leaves office we have
15:30
put about 20 trillion dollars of debt
15:33
and to that you had three trillion for
15:35
local and state government how much more
15:38
debt can we leave our future generations
15:40
and can we really pay it
15:42
although we can't pay it i mean tang is
15:44
impossible but the question is can we
15:47
service it can we just pay the entry
15:49
right on the debt and the answer to that
15:51
question is not if interest rates go up
15:53
as long as interest rates they this low
15:56
then we can keep paying for a while but
15:59
at some point interest rates have to go
16:02
up and if they don't go up because the
16:04
Fed won't let them go up there is the
16:06
dollar that's going to crash but one way
16:08
or another right either we default on
16:10
the debt because we let interest rates
16:12
go up or we inflate it away because we
16:15
don't but either way the people who are
16:17
own owning the bonds are not going to
16:19
get paid right because either they're
16:21
going to lose their money or the money
16:23
is going to lose value but they're not
16:25
going to get back to purchasing power
16:27
going back to the real estate bubble for
16:30
a moment
16:30
why did most of the population in or the
16:33
signals of this bubble bursting with it
16:35
because we kept hearing the real estate
16:37
prices historically never go down it's a
16:40
solid investment what really triggered
16:42
the people to continue
16:44
well i think it was you know popular
16:46
delusions and the madness of crowds i
16:48
mean most of the people who didn't see
16:50
the real estate bubble owned a house
16:53
and you know they didn't want to admit
16:55
that the asset that they owned their
16:57
biggest asset that they thought was
16:59
going to appreciate indefinitely
17:01
they didn't want to acknowledge that it
17:03
was a bubble because this was their
17:04
ticket to retirement I mean you know the
17:06
idea that you can just buy a home and
17:08
live in it and as you live in it and
17:11
enjoy it every year it just goes up in
17:13
value by 50,000 hundred thousand dollars
17:15
i mean people average people give people
17:18
your teacher schoolteacher fireman and
17:22
you were you know 40 years old you
17:24
thought you'd be a multi-millionaire by
17:26
the time you were 60 because how much
17:27
your house was going to be work and so
17:30
nobody had to save any money you can buy
17:32
whatever you wanted to get the house did
17:33
the work for you
17:35
in fact i think a lot of people don't
17:36
even think they needed a job they just
17:38
thought they bought a house that was the
17:39
only job I need it
17:40
the house will do all the work that we
17:41
just keep going up in value and they can
17:43
keep your borrowing the money I so
17:46
nobody wanted to believe it of course
17:48
you had all the people from the mortgage
17:50
market and the real jurors they know
17:53
what they want they wanted the party to
17:54
keep going
17:55
I so you know there was not that many
17:58
people that you know that really you
17:59
wanted to acknowledge this nobody wanted
18:01
it to end in anybody like me if I tried
18:04
to rain on that parade right i mean i
18:06
was immediately attacked by everybody
18:08
you know so and that's always what
18:11
happens you know when you nobody nobody
18:13
wants to know you know you're the bearer
18:15
of bad news it's like there's an
18:17
expression you know you don't shoot the
18:19
messenger well you know they used to
18:21
shoot me all the time nobody wanted that
18:23
message tell you you've been criticized
18:25
but ben stein and they did and the rest
18:27
of them all the time
18:28
what do they say now by the way is it
18:30
usually first he laughed with you then
18:32
when you're right
18:34
well he were right all along now but
18:36
then they still don't want to then they
18:38
say you were just lucky or you're a
18:39
stopped clock you know but then you have
18:42
been set a lot of good things about me
18:44
are recently in fact even did a blur by
18:48
my my latest book I which is that the
18:51
real crash Americans coming bankruptcy
18:53
how to save yourself in your country and
18:55
if you have a read that book guy you
18:57
should pick it up you know get on Amazon
18:59
are you i have my own nut a site where i
19:01
sell my books to or linked to my books
19:03
shipped books.com
19:05
so you can you know just go there as a
19:08
ship books but I by the way a great book
19:11
i have i'm doing a holiday special on
19:13
this book is armed a collector's edition
19:17
of my book how an economy grows and why
19:19
it crashes into an illustrated kind of
19:22
cartoon book on economics that i think
19:25
is an excellent primer for teenagers
19:27
young adults but of course anybody can
19:29
read it but it really is a great
19:30
introduction to free-market economics
19:33
Austrian economics at this dolls all the
19:35
myth that you know your kids are
19:37
learning in high school and college when
19:39
they taking comics courses and they
19:41
learn all this
19:41
Keynesian nonsense so I'm autographing
19:44
copies and selling them at a discount on
19:47
my website at ship books.com while
19:51
supplies last 1i i took my bought I
19:53
bought out how many they had left as the
19:55
publisher wiley and so I'm know for
19:58
christmas you want to buy I want to give
20:00
them ways guess I think they're great a
20:01
bush good coffee table books i mean i'd
20:03
even I have clients to read them to
20:05
their young children you know I and you
20:08
know it's very education but it's funny
20:10
you know you'll get a good laugh as I
20:11
when you're reasonable so you save those
20:14
for me i'll be to my daughter and i have
20:16
to tell you have to compliment you
20:17
because you know most people when they
20:19
hear the word economist or financial
20:22
expert people think overall it's going
20:24
to be boring talk w one of those people
20:26
then when you speak you speak in such a
20:30
clear down-to-earth manner that people
20:33
understand i saw your video from a few
20:35
years ago at the Occupy Wall Street
20:37
where you were the one percent of
20:39
one-percenter ask me a question and I
20:41
have to tell you mean that they was very
20:43
convincing when you were telling people
20:45
that you're very approachable yet an
20:47
open-door policy
20:48
what came out of that by the way yeah
20:51
it's interesting because I guess the
20:52
some other website just happened to put
20:55
up a copy of that you know this was
20:57
originally I did that was it don't wait
21:00
four years ago years ago forgot how long
21:02
it was when they did the Occupy Wall
21:03
Street movement but I went down there
21:06
reason TV came down with me i had the
21:08
idea to go and so we told reason about
21:11
it mr. yellow fulfillment for it so I
21:14
went down there
21:15
zuccotti park and at the time I did it
21:18
three
21:19
we got a lot of views you know a lot of
21:20
websites picked up some of them craft
21:22
they were very popular and I wouldn't
21:24
discuss it on TV
21:26
I mean I anderson cooper talking about a
21:28
few other shows that me on because you
21:29
know it was you know a lot of people
21:31
watching him and of course it died down
21:33
and then some website this happen to put
21:36
up a copy of it recently a couple weeks
21:39
ago
21:39
yeah and it got now it's got another 10
21:42
1.7 million views
21:44
you know so you know it kind of has a
21:46
new life but you know what what what
21:49
maybe go down there because i saw these
21:51
people protesting you know I on Wall
21:56
Street and they were there they're
21:57
protesting capitalism they're protesting
21:59
what they saw as the problem which was
22:02
Wall Street in the banks and they were
22:04
blaming Wall Street for the crisis and I
22:07
like you know these people are right to
22:09
be upset their right to be protesting
22:12
but they're directing their anger in the
22:14
wrong direction they should be in
22:16
Washington they should be protesting the
22:18
Fed they should be protesting Congress
22:20
and the president not capitalism because
22:24
capitalism is not their enemy
22:26
capitalism is there salvation their
22:28
enemy is government is socialism or
22:30
corporatism fascism whatever you want to
22:33
call it but because we've got a you know
22:35
a government-controlled type command
22:38
economy it essentially plan that a
22:41
Washington as opposed to a real free
22:44
market economy and so I wanted to go
22:46
down there and try to educate you know
22:49
the people but more importantly I knew
22:50
that by filming it and having it up on
22:52
youtube that I would educate a lot more
22:55
people than the people in the park and
22:57
even if I couldn't convince the people
22:59
in the park
23:00
I could convince people that were
23:02
watching at home and that's exactly what
23:04
happened because you know for years I
23:06
get emails from people course now i'm
23:08
getting a more of them because of this
23:10
new you know new video but I've been
23:13
getting even before this new video came
23:15
out you know I still get emails from
23:17
people all around the world particularly
23:19
people live in countries that used to be
23:20
common people email me young people
23:23
ah ok I used to be socialists I used to
23:25
be very left-wing but then I saw this
23:28
and and I you know and it got me
23:31
thinking and I've done more research and
23:32
I'm I've done a complete you know 180
23:34
and I'm a no total free market guy now
23:37
conserved so it worked committed
23:39
accomplished what I was hoping in that i
23:42
was able to use that that podium that
23:45
platform and all those people and the
23:47
dialogue that we had in a positive way
23:50
I mean even if I didn't necessarily
23:52
change the minds of the 40 or 50 people
23:56
who happen to be there
23:57
I probably change the minds of thousands
24:00
of people who were watching the videos
24:03
around the world and you were very very
24:05
patient but i have to say some of the
24:07
people that disagree with you when you
24:09
asked him what you do they were
24:11
government employees where do they think
24:13
that the money did change them on that
24:16
government job whether they think the
24:17
money comes from
24:18
yeah well most people don't even care
24:21
you know that's where it comes from but
24:24
yeah I mean all every in fact people
24:26
that work for government don't even pay
24:28
taxes
24:29
really i mean they think they do right
24:31
because they they get a paycheck and
24:33
they have taxes taken out of it but it's
24:35
not really paying taxes if you work for
24:37
the government
24:38
let's say the government page fifty
24:39
thousand dollars a year and then you pay
24:42
10,000 and taxes you the government is
24:45
paying you 40,000 right you're not
24:46
you're not paying any taxes all because
24:48
you're not giving the government
24:49
anything that they didn't already have
24:52
you're just giving them back a little
24:53
bit of what they gave you but the net
24:56
effect is that the government is not
24:57
getting tax revenue from its own
24:59
employees it is paying its employees so
25:02
all the taxes have to be paid by people
25:05
who work in the private sector that's
25:07
the only reason that government workers
25:09
can get paid they do nothing
25:11
they're not supporting the government at
25:13
all they like to think they are but
25:15
they're not they're living off the
25:17
taxpayer they're not taxpayers their tax
25:20
takers to go to judge frank for a moment
25:23
do you think that Frank was the answer
25:25
to the real estate bubble collab verse
25:27
that although I mean first of all chris
25:30
darden God and Barney Frank were part of
25:33
the architects the finances right they
25:36
were in bed with fannie and freddie i
25:38
mean they were you know so to have them
25:41
try to find a solution is like people
25:45
expecting the house or even need to lift
25:48
higher the Mafia to solve our crime
25:51
problem you know and and so now
25:53
dodd-frank never should have been tasked
25:55
and it's done more harm than good to the
25:58
extent that even done good but the the
26:02
reason that we had a financial crisis is
26:05
that government intervention into the
26:08
market created the conditions that led
26:10
to that crisis so what we should have
26:12
learned from our mistakes is that we
26:14
want to remove all these government
26:17
I you know interferences these
26:19
impediments these subsidies these
26:21
regulations that distort the markets and
26:24
that lead to this type of reckless
26:26
risk-taking and a bubble-blowing but we
26:29
didn't do that instead of reducing the
26:31
role of government in the markets we
26:33
expanded that role and so now the
26:36
government's are able to do even more
26:37
damage than they were before how
26:40
responsible do you think was
26:42
glass-steagall the the removal of
26:44
glass-steagall in 1970 their into
26:46
clicking touch covers bunch of his dish
26:48
for the guys in the bubble I'm minimal
26:52
minimal was more the Federal Reserve ah
26:55
and you know Fannie and Freddie and the
26:57
FHA had been there all along but you
26:59
know the real problem with
27:01
glass-steagall was the fact that we even
27:03
had it i mean it that the problem and
27:06
the need for some of these regulations
27:07
all stems from the bad decision that
27:10
Franklin Roosevelt made in the thirties
27:13
for the government to ensure bank
27:16
accounts and of course when he made that
27:18
decision the insurance only apply to a
27:21
small percentage of the deposit but it's
27:24
you know the camels nose under the tent
27:26
once we made the mistake of going down
27:29
that road you know now the government
27:31
ensures pretty much everything
27:33
what was that don't know was it rose
27:35
filled enticing people to put their
27:37
money back and be a bank account after
27:39
the Depression started
27:40
yeah because you know there were some
27:41
banks failed i mean a very small
27:43
percentage and some people lost their
27:46
deposits and so the idea was ok the
27:48
government's going to guarantee these
27:50
bank accounts so that you won't have to
27:52
worry about losing your deposit but
27:54
I want people worried about losing their
27:56
money because then they'll be careful
27:59
about which banks they entrusted to but
28:02
now you have this moral hazard where
28:05
nobody gives a damn what the bank does
28:08
with your deposit because it's
28:10
government-guaranteed now the bank's
28:13
know this so there's no point in the
28:15
bank's competing for safety
28:17
so they just you know do all kinds of
28:20
reckless things and now you have to have
28:22
government kind of monitoring the
28:24
reckless behavior of banks but they're
28:27
only acting recklessly because the
28:29
government removed the free market
28:31
incentive not to because when people
28:34
were concerned about their deposits then
28:37
banks had to be responsible in order to
28:40
attract deposits and a lot of people
28:42
said well you know the average American
28:44
doesn't know how to read a balance sheet
28:46
would know how to analyze a bank to know
28:49
whether it's safe or not well you don't
28:50
have to look I don't know anything about
28:51
auto mechanics but i still buy a car and
28:55
you know I could go and read consumer
28:57
reports or I can talk to other people
29:00
who maybe dunno a little bit about cars
29:01
and they can help me make this selection
29:05
you know I don't know anything about how
29:06
a computer works but i can buy one and I
29:10
you know I don't know by good ones that
29:12
are quality because I can do research
29:14
and same thing about a television set
29:17
I don't know you I couldn't build what I
29:18
have no idea how to repair one so the
29:22
same thing would happen with banks there
29:24
would be our publications that would
29:26
rank banks and of course you know banks
29:28
you know you can see over here where
29:30
does Warren Buffett keep his money
29:32
I'm going to keep my money there you
29:33
know where the smart people bank okay
29:35
well you know they must be good right so
29:37
if you don't know enough then you know
29:39
follow the people who do right now so i
29:41
think the free market would would
29:43
produce a very sound stable banking
29:45
system but the one that we have now
29:48
that's built on government guarantees is
29:50
a complete mess
29:51
I mean this is a disaster and you know
29:54
we we came close to the abyss inouye coz
29:57
hold all these banks would have Kabul
29:59
and you know during the Depression you
30:02
know one or two percent of the deposits
30:04
were lost
30:05
had we not have the tarp and all those
30:07
big bailout to me
30:08
we would have lost I mean huge
30:10
percentage of deposits would have been
30:12
lost but at the end of the day what the
30:15
government did in the bailouts just made
30:16
the system that much worse all those
30:19
banks that were too big to fail their
30:21
way bigger now and so you know and you
30:24
know they're gonna fail and if they
30:26
don't fail it's only going to be cost a
30:28
dollar collapse and so it doesn't even
30:30
matter that you get your deposits are
30:33
not lost because they're not gonna be
30:34
worth anything i remember back in the
30:36
early nineties when we had the the this
30:40
welcome to banc Election Day the forgot
30:43
the actual name for you remember remind
30:45
me have it wasn't in the Indian
30:48
1990-1991 we have to come in and bring
30:52
all these trustees to take over while
30:54
you're talking you're talking about the
30:56
SNL what the long-term capital because
30:58
the S&L crisis was here earlier than
31:01
that the crisis in the late nineteen
31:03
eyes that long-term capital we had an
31:05
SNL crisis savings but that he was in
31:08
the ladies ladies and that you were
31:10
right right moves 90 hours it was well
31:12
before we're picking up the pieces in
31:14
the early nineties oh yeah and that has
31:17
to do with changes in the tax law you
31:20
know that that took away a lot of
31:21
deductions that existed in the real
31:23
estate market and that was you know but
31:25
a lot of these savings alone due course
31:27
you know they had government-guaranteed
31:29
deposits and that was the source of some
31:32
of the reckless behavior you know that
31:34
is the moral hazard when government does
31:37
that certainly don't government should
31:39
not be ensuring bank accounts that's
31:41
that is the problem it when i go to the
31:43
bank which is not that up and lately and
31:46
I see this 250,000 lower limit
31:49
I last because i think it's a collapse
31:52
were to happen
31:52
how much money do we have really do we
31:55
have in circulation
31:57
p well the figures that limit doesn't
31:59
even matter because every time a bank
32:01
has failed recently the government has
32:03
reimbursed every deposit so nobody has
32:06
ever lost anything I mean so you know
32:08
they won't they won't let anybody lose
32:11
money but you know ultimately you know
32:12
the FDIC has very little money and so
32:15
it's a major bank will fail i mean
32:17
there's nothing there so the Fed would
32:19
have to bail it out
32:21
the PFC doesn't actually have enough to
32:25
cover the losses
32:27
speaking of government guarantees i
32:29
think this is in my opinion another
32:31
bubble that's coming student loans
32:34
well you have to take me to the student
32:36
loan bubble has been growing for years
32:38
you know that i wrote about that pretty
32:41
extensively in my book you know the real
32:44
crash and of course the bubble has
32:46
gotten so much bigger since since i
32:48
wrote about it but that is another
32:50
example of government creating a problem
32:53
and then holding itself out as the
32:56
solution to a problem its own creation
32:59
and then making the problem it created
33:01
even worse with its so-called solution
33:04
still at one time
33:08
college degrees were very valuable but
33:11
not very expensive and not that many
33:14
people actually went to college as a
33:16
percentage of the population but if you
33:18
are the type of person that would really
33:20
benefit from that education you can get
33:23
one and even if your parents were a
33:25
relatively modest means
33:28
ah but you wanted to go to Harvard or
33:30
Yale they could swing it and even if
33:32
they couldn't you could get a job over
33:34
the summer and work your way through
33:36
college and no that was very common
33:39
ah for much of you know the the 20th
33:42
century or certainly the earlier part of
33:44
the 20th century people work their way
33:47
through college nobody graduated college
33:49
with debt that is a function of
33:52
government what happens is some
33:53
politicians decided that hey we can get
33:56
students to vote for us if we promise to
33:59
get them so they can borrow money to go
34:02
to school so they won't have to work a
34:03
summer job or they won't have to work
34:05
evenings will just arrange it so they
34:07
can borrow money by guaranteeing the
34:09
loans and hey everybody thought I was
34:11
great i could just borrow this money
34:14
well the minutes happens it started as
34:16
big bubble because then the college's
34:19
instead of having to compete for
34:21
students by keeping their tuition low
34:23
now the two students completed tuition
34:26
no matter how high it rose because they
34:28
could always get the money because they
34:30
can borrow it and normally you know a
34:33
banquet loan money to a kid that you
34:35
know 1819 I mean what's you know what's
34:37
the collateral nothing but once the
34:39
government cosine is the lone what
34:41
everybody wanted to loan money these 18
34:43
year olds and they didn't care you know
34:45
what they were majoring in
34:47
if their major had any economic
34:49
viability they didn't care if they were
34:51
in a student or deaf students because
34:53
the government didn't care
34:54
all the loans were guaranteed so we
34:56
created this situation where
34:59
colleges and universities could use this
35:01
student loan program they milked it they
35:04
kept raising prices the students kept
35:06
borrowing the money they would raise the
35:08
salaries of the teachers and
35:09
administrators and then they would build
35:11
these fancy gymnasiums and you know all
35:13
kinds of Housing and this is huge bubble
35:16
and it was all because of his government
35:18
money
35:19
meanwhile everybody was you know
35:21
funneled into the university system if
35:23
everybody was told you have to go to
35:25
college
35:26
everybody have to go to college you know
35:28
whether you're you're smart or whether
35:30
you're an idiot you know I mean colleges
35:32
actually had remedial and still have
35:34
remedial math remedial English we have
35:38
people going to college that shouldn't
35:40
even have graduated high school but they
35:42
were pushed through high school you know
35:44
No Child Left Behind whether they can
35:46
read or not and you have people
35:47
literally who are functional illiterates
35:49
going to college and you know taking
35:52
remedial courses and you know they're
35:54
never going to benefit from these
35:56
degrees
35:57
everybody's got a college degree but if
35:59
you want to see a funny video that I
36:01
shot top three years ago when i was in
36:04
new orleans i happen to be there for a
36:06
conference and so I took a microphone
36:07
and a camera and I walk down Bourbon
36:09
Street and I was asking all the people
36:12
that work there one night and of course
36:14
you got bouncers you got strippers you
36:17
got bartenders you got pedicab drivers
36:20
you know all kinds of people doing you
36:23
know menial no skill low-skilled type
36:26
work and I asked everybody you know did
36:29
you go to college
36:30
yes you know what was your major you
36:32
know when did you graduate how much do
36:34
you owe and that mean that you just this
36:36
is it I mean there are some people that
36:38
had two or three different degrees i was
36:40
talking to people that have master's
36:41
degrees that you know we're tending bar
36:43
right this is it you know and love these
36:46
people graduated five years ago 10 years
36:48
ago and they're doing nothing
36:50
they have jobs that they didn't even
36:52
need a high school diploma for these
36:54
jobs alone a college degree but you know
36:57
and this is all government schools
36:59
government you know we we don't really
37:01
have private education to a great extent
37:03
because the government takes all the
37:05
money in taxes and property taxes and
37:08
and now you got most people have no
37:10
choice but to send their kids
37:11
these lousy government schools where
37:13
they learned nothing
37:15
the schools are run for the benefit of
37:16
the administrators and the teachers
37:18
unions no one gives a damn about the
37:21
kids they graduate they learn nothing
37:23
and then they go to college for no
37:25
reason and now it takes you know five
37:28
and six years to get these four year
37:30
degrees because there's so many people
37:31
in college you can t get the courses
37:33
that you need to graduate so kids are
37:35
there forever
37:36
they're graduating fifty a hundred
37:37
thousand more in debt they have no
37:40
marketable skills they take these
37:41
ridiculous liberal arts courses
37:44
ah they study you know women studies
37:47
african-american studies you know
37:49
psychology is sports all kinds of
37:51
nonsense they know nothing
37:54
they've wasted the formative years of
37:56
their lives when they could have been in
37:57
the workforce learning skills making
37:59
connections instead they got drunk and
38:01
party for five or six years and now they
38:04
have so much debt they can't even get a
38:06
real job because if they get a job they
38:08
can't afford to pay the debt back and
38:10
their taxes so they say they're living
38:11
with their parents you know they leave
38:13
for college for fought for 56 years then
38:16
they come home and now they're living in
38:17
the basement you know and so that this
38:19
is this is all created by government
38:21
this is one gigantic bubble at this
38:23
point college degrees that are so
38:25
expensive that they make it makes sense
38:28
hardly anybody should go to college at
38:30
this point because the cost benefit is
38:32
just not there and you know with the
38:34
internet and the ease with which you can
38:36
learn and access information online go
38:39
to college
38:40
what's this white it's really you know
38:42
if you look at the smartest Americans
38:44
they were self educated men I mean a lot
38:46
of the founding fathers didn't go to
38:48
college
38:49
very very smart meant where were
38:51
self-taught in fact it's interesting if
38:56
you you know go when you go to that
38:58
youtube channel and edits you look at my
39:00
my video about dumb about the college I
39:05
talked about in that it into Orleans if
39:08
you look about that if you read the
39:11
description of the video is a very
39:14
interesting description but I point out
39:16
23 wealthiest Americans who have ever
39:19
lived right John the Rockefeller andrew
39:22
carnegie and cornelius vanderbilt right
39:25
those are the wealthiest americans i
39:27
think the network of these three is
39:29
estimated Rockefeller was worth like 600
39:32
billion in today's terms six I mean
39:34
something obscene amount of money
39:36
accardi about 300 billion and I think
39:39
Vanderbilt maybe a hundred 1575 billion
39:42
right you can compare that to Bill Gates
39:44
who is the richest person alive today
39:45
he's worth about 60 building 55 those
39:47
but Carnegie dropped out of high school
39:51
at sixteen Vanderbilt dropped out of
39:55
school at 13
39:56
I mean cartoony dropped out of 13 and
39:59
vanderbilt dropped out of school at age
40:01
eleven it soaks here Kylie went to
40:04
school till he was 11 years old it's
40:07
it's built an empire you know and so you
40:10
can learn a lot and even Bill Gates by
40:13
the way who is the richest living
40:14
American with the world trucked out he
40:16
dropped out of college but at least he
40:17
made it to cause but he did not graduate
40:19
so you know some of the richest most
40:23
successful Americans of all time
40:25
never went to college you know and as
40:28
you know so it's been oversold overhype
40:31
by governments and teachers unions but
40:34
you know any time the government gets
40:36
involved in something and also you know
40:37
it started with the GI Bill and that's
40:39
kind of where they got involved in
40:41
education but whatever they get involved
40:43
in it that quality goes down the cost
40:46
goes up we want to free marketing and we
40:48
want to get government completely out of
40:50
Education no government loans no
40:52
government guarantees i like to see
40:54
government out of K through 12 I like to
40:56
get rid of all these private schools and
40:58
let entrepreneurs compete for students
41:01
in the free market because then you've
41:03
got to deliver a good product then you
41:05
gotta sell the parent on sending the
41:07
kids at school
41:08
hey my school is great I here is our
41:11
here's our graduation rate here is what
41:13
percent of our kids get into ideally
41:15
schools or here's how the jobs that
41:17
people get when they graduate from our
41:19
school
41:20
instead you know the public schools have
41:22
a captive audience
41:23
you gotta send your kids to the school
41:24
you live in a school district your kid
41:26
has to go here
41:28
I mean so why would you expect good
41:29
education with zero competition creepy
41:32
that you're running for several years
41:34
ago we just wondering why you weren't
41:35
elected quite a lot of people they're
41:38
not people to vote for me you know the
41:41
person who ran against the primary was
41:43
linda mcmahon she lost the general
41:45
election but she just got appointed by
41:48
Trump to be the head of the small
41:49
businesses that's right just saw that
41:50
today
41:51
yeah not just George Carlin used to say
41:54
all you need to be admitted in college
41:56
newsagency pencil but i see so many
41:58
similarities between the real estate
42:00
bubble and the student loan bubble and
42:02
all these chips that go to college these
42:04
days
42:05
yeah I want to be an underwater basket
42:07
weaver shouldn't there be an
42:09
organization at least you'd be keep it
42:12
going with government guarantees that
42:14
looks at the future let's say that it
42:15
takes 45 years for you the finisher your
42:18
degree shouldn't look at the future to
42:20
see that job will be in demand and if
42:23
it's not well I think of it no built
42:26
people even know I mean look you think
42:27
the government should not be involved in
42:30
this at all
42:31
you know that's the only way to do it is
42:33
and that and that would get the cost out
42:35
if the government stepped away and no
42:37
longer provided loans for guaranteed
42:40
loans colleges would have to slash their
42:43
prices that's the only way they would
42:44
have any customers because nobody can
42:46
afford to go without the government help
42:49
so let me go to take it out of the
42:50
equation taken back the the government
42:53
of the questions let's leave it between
42:54
the bank and the student shouldn't the
42:57
student provide if you want i need to
42:59
buy a business we need to provide a
43:00
business the party how about you know
43:03
what a business way most banks won't
43:06
loan students money to go to college
43:07
it's a it's too risky alone you know
43:09
without the government lot of point
43:12
there's a point over my father for
43:15
example went to college and his parents
43:19
had no money so he waited tables over
43:22
the summer at a at a lodge McCaskill's
43:24
and he paid for school if the government
43:28
got out of the way college would be so
43:30
inexpensive that nobody would have to
43:33
borrow money to go that's the point
43:34
because they would have to compete
43:36
yes the only reason colleges expensive
43:38
is because of the loans take away the
43:41
loans and the prices go down and of
43:43
course you know not as many people would
43:46
go to college right so you wouldn't have
43:48
to spend six years you can get out and
43:49
43 you know on a but people go to
43:53
college now you know that shouldn't go
43:56
you know why you know i mean if you
43:59
could barely get out of high school if
44:01
you're one of these kids that you know
44:03
was a sea student in high school you
44:05
know what's the point of going to
44:06
college and many of its good that there
44:08
are a lot of you know you could make a
44:09
living you don't have to be a doctor you
44:11
want to be a lawyer you know there's a
44:13
lot of people you know you can make a
44:14
very good living
44:15
I you know doing doing stuff that that
44:18
you don't learn in college now you don't
44:21
have to say for the longest time I work
44:23
for a fortune 100 company and at the
44:25
beginning I had to stop going to college
44:27
because i was being promoted but it was
44:29
the pressure the pressure from everybody
44:31
well if you need to be promoted you need
44:33
to have your degree
44:34
it really made it didn't make a
44:36
difference to me but it was that
44:38
pressure now these kids I mean there's
44:41
so many derogatory terms being used
44:42
against the basement dwellers snowflakes
44:45
in the land of you name it
44:47
but at the same time these kids are
44:49
coming out of college with a degree
44:51
that's worthless they cannot buy a home
44:54
that will that do to the real estate
44:56
market in the future will open holidays
44:58
and yeah take a rented apartment right
45:01
up broke they are you know what it would
45:03
be much better instead of leaving home
45:05
with your 18-minute graduate high school
45:07
and living in a dorm or off-campus
45:11
housing and barring all this money going
45:13
to college you can just skip College
45:15
live with your parents you know for a
45:18
few years after get out of high school
45:20
get a job and then when you're 21 22 you
45:23
have a good job that we make us some
45:25
money you won't have any debt now you
45:27
can move out of your parents house and
45:29
live on your own
45:31
what's the point of going to college for
45:32
a few years and now you're stuck in your
45:33
parents house until you're in your
45:35
thirties or forties it's
45:37
I ask somebody from the government the
45:39
other day why do we have to guarantee
45:40
student loans and the answer was because
45:43
there's too much money to be made
45:45
that's why lobbyists are totally in
45:48
favor of keeping it the way it is
45:49
how do we hold that equation Ebola the
45:52
the university's love it they make a ton
45:55
of money and colleges I the landings the
45:58
lenders the banks make a ton of money
46:00
the losers are the students they're the
46:03
ones that end up with all the debt or
46:05
the taxpayers are the losers when the
46:07
students can't repay the debt and
46:08
they're stuck with the bill so you know
46:11
this is a situation where government
46:13
gets involved in housing and so they run
46:15
up the cost of housing and now we have a
46:17
housing bubble we have all this mortgage
46:18
that what are they doing with
46:19
automobiles look we've got an auto
46:21
bubble now trying to get all these you
46:23
know keep money and government you took
46:25
over a lot of the auto lending and
46:27
balance out the auto companies and you
46:29
now people you know I'm more auto loans
46:31
kinda like a mini mortgage now for
46:33
people and so you know the government
46:36
anything the government gets involved as
46:38
a complete disaster on the other hand
46:40
look at the things where the government
46:42
is not involved like you know consumer
46:44
electronics right there
46:47
everything gets better everything gets
46:49
cheaper and everything gets better you
46:51
know that's because that's the free
46:52
market that's competition so we want
46:55
that in education we want that in
46:57
housing we want that in healthcare the
46:58
government is screwed up healthcare why
47:00
is healthcare costs rising so much you
47:02
know you know they always try to say
47:04
well you know the reason that healthcare
47:06
is more expensive is because you know
47:08
now it's more sophisticated we can you
47:10
know we can do more things now it's more
47:13
complicated so it costs more
47:14
you know that's what they would say
47:16
about computers you know if governments
47:18
made computers will be wired computer so
47:20
expensive now
47:21
well they just look at all the things
47:23
they do today I mean the computers are a
47:25
lot more powerful than what they used to
47:26
be and they have a lot more caught a lot
47:28
more complicated and that's why they
47:30
cost so much money but the reality is
47:32
computers are cheaper today than they
47:34
were five ten years ago even though
47:35
they're better so that's what the free
47:37
market we got the government out of any
47:39
healthcare
47:41
healthcare would be cheaper today it'd
47:42
be better and cheaper I it would be just
47:45
like a cell phone or more flat screen TV
47:48
that's what the free market does it
47:51
makes things better and it makes them
47:53
less expensive the government makes
47:55
things worse and mixed case more expand
47:57
the business propaganda and as you saw
47:59
during your your one-percenter meeting
48:02
there at a New York many people when
48:05
they hear wall street when they hear
48:07
capitalism they have been brainwashed by
48:09
don't know hoop to completely demonize
48:12
that aspect and they just want to trust
48:14
their well-intentioned government
48:16
yeah you know but you know the important
48:19
thing though I think that people need it
48:21
was recognized that it was bad as alway
48:23
was I mean what we're heading for is
48:25
going to be a lot worse and you know if
48:27
you weren't prepared financially for
48:29
that I mean you've got to be prepared
48:30
for this next one because there's no
48:32
there's no bailout right i mean the
48:34
markets came back right the government
48:36
was able to reflate the bubble so if you
48:38
held on to your house
48:39
hey maybe a bounce back to stock
48:41
portfolios certainly came back but
48:43
there's going to be no coming back from
48:45
this next one so people have to really
48:47
be prepared and know that's really what
48:49
i think is the most important thing that
48:50
I can help people with now is really
48:53
getting their financial house in order
48:55
particularly if you're nearing
48:57
retirement or you're already retired you
48:59
have a portfolio that you're hoping to
49:02
you know without your retirement on the
49:05
income generated from that portfolio you
49:08
have really got to act quickly because
49:10
the biggest losers are going to be the
49:12
savers and investors who are just not
49:14
positioned who are going to bear the
49:15
brunt of this because you know this is
49:18
gonna be a giant default whether it's
49:22
legitimate honest or through inflation
49:24
and so a lot of people can be left
49:26
holding the bag and it's very
49:28
unfortunate but if you act now if you
49:31
you know you can do something you can
49:33
get your money and out of us assets you
49:36
can invest in places like Switzerland
49:38
and Singapore Hong Kong or new zealand
49:40
or country so i really think will
49:42
provide some solid opportunity and
49:45
protection from really what's gonna be
49:47
going on here so I i would encourage you
49:50
you might my company your pacific
49:52
capital i manage money I have
49:54
broker-dealer your pack com is the
49:56
website EU ro PA si.com people can visit
50:00
that that you contact me I you know
50:03
definitely like you know sign up for my
50:04
weekly digest it so there you know
50:07
keeping I you know abreast of what's
50:09
going on as you want to bring up the
50:12
auto bubble but that here we were
50:13
thinking about the subprime mortgage
50:15
crisis but this is a 1 trillion dollar
50:17
consumer auto loan bubble remember a few
50:19
years ago when i went to Florida for a
50:22
visit and you turn on the TV
50:24
almost every channel on a sunday
50:26
afternoon ahead
50:27
auto dealers selling their vehicles
50:30
never never talked about how much the
50:32
vehicle was worth just the monthly
50:36
payment is this what brainwashing people
50:39
do stage
50:40
well I mean like everybody you know
50:42
wants that new-car it no and in fact you
50:45
know a lot of these young people that
50:47
are living with their parents I mean
50:48
that's basically you know that's all
50:50
they got to show for themselves the car
50:52
right you know some people are living in
50:54
their cars so that's what another reason
50:56
that people can pay a lot of money for
50:58
cars but I you know if you're 25 to 30
51:02
year old kid live with your parents i
51:03
mean at least you can drive a nice car
51:05
you know you might be able to take a
51:07
girl out of the date or you know you
51:09
would actually buy that those are you
51:10
live with your parents
51:11
some people and the government is making
51:13
it easier for people to qualify low down
51:15
payments no downpayment seven years I
51:18
you know loans 0% financing leases and
51:24
you know that and I think you a lot of
51:26
people to are taking out these low
51:27
mileage Lisa's you know they're getting
51:29
let's say 10,000 miles/year and they're
51:31
driving their cars 15,000 miles and they
51:34
have no idea how much they're going to 0
51:36
what police this up you know they're not
51:38
going to have the money to pay guess
51:40
they're broke right there are living
51:42
paycheck to paycheck so yeah I mean this
51:45
is another gigantic bubble but you know
51:47
people have been suckered into it by
51:49
government just like they get people to
51:51
buy lottery tickets you know you get
51:52
these for people you know I lottery
51:56
tickets with money that they should be
51:57
using for you know food you know but the
52:00
government crops everybody you know and
52:02
it again people to act recklessly and
52:05
irresponsibly how much of this
52:07
is attributed to the Federal Reserve
52:09
into central banks should a lot of it I
52:12
mean without the said I mean another
52:13
this would be possible
52:14
you know guess it's just if the
52:16
government had to borrow real money that
52:18
they had actually tax us if we were
52:19
still wouldn't be standard yeah well the
52:22
people wouldn't put up for it i mean we
52:23
we need to go back to that to sound
52:27
money and that is the the thing you know
52:29
one way that people can do that and i'm
52:32
very excited to be associated with this
52:34
company I its company called gold money
52:37
and my gold company shift goal is now
52:40
part of old money i had myself physical
52:43
precious now but gold money and
52:45
everybody everybody listen to this pot
52:47
you interview the first thing that you
52:49
should do at the end of the interview is
52:50
go to gold money calm and open up an
52:53
account you go it's very quick he do it
52:55
for free and what it is you can buy gold
52:58
right you just take your visa or
53:00
mastercard and by 25 bucks 50 bucks
53:03
worth of coal
53:03
ah and the only cost is a half percent
53:07
see to buy the gold so you pay half a
53:09
percent over spot which is very very low
53:10
but it's like a bank account except is
53:14
in gold you'll get a free mastercard
53:17
right that you can now use you can use
53:20
it indicate any place they take
53:22
MasterCard you can put it into an ATM
53:24
and get cash out right and you're
53:27
spending your goal and but more
53:31
importantly let's say that you want to
53:35
give your goal to somebody else or you
53:38
want somebody else to give you gold you
53:40
can transfer so let's say you have fifty
53:42
dollars with the gold and you want to
53:43
give somebody five dollars worth of your
53:44
goal you can just text it to him
53:47
you can email to them you can you can
53:49
facebook it to him you could just give
53:50
them your bolt and now LOL the goal that
53:52
you want this is real gold you own
53:54
involved with your name on it brings
53:57
fault
53:57
and so what this is doing is it is
54:00
basically letting you put yourself on a
54:03
gold standard you know before the
54:04
government camp with paper money we were
54:06
all using gold but paper was more
54:08
convenient to spend rather than lugging
54:10
around bars goal but with the internet
54:13
and would gold money you can have your
54:15
gold stored it evolved and now you can
54:17
spend it as easily as you can spend
54:20
the cash that you have in the bank in
54:22
fact the easier if i want to send
54:24
somebody in Europe a hundred I euros how
54:28
would you do that if you're an American
54:29
even happy years have you send somebody
54:31
a hundred euros I mean you're going to
54:33
go to a bank and buy some euros and then
54:35
put them in an envelope and mail them to
54:37
your friends in Europe you know what's
54:39
that gonna cost how long is that gonna
54:40
take are you gonna go to a bank and wire
54:42
the eurozone you know the wire would
54:44
cost fifteen twenty dollars i mean that
54:46
means to 15 but i can send somebody a
54:49
hundred euros worth of my goal right now
54:51
and they know and they can control his
54:53
goal and they can pull it out as euros i
54:56
bought it with dollars they sell it for
54:57
euros or they could just transact when
55:00
you have a gold money account you can
55:02
earn gold you can have your paycheck i
55:05
direct deposited as gold into your
55:07
account now your landlord you can you
55:09
can allow your tenants to pay their rent
55:11
a goal that you can pay your bills and
55:13
golden mean they're going to develop an
55:14
entire ecosystem right now they got 1.3
55:17
million users i think i'll have a
55:19
hundred million users all around the
55:21
world that are going to be now in a
55:24
platform where they can transact with
55:26
one another in gold but transact with
55:28
everybody else in paper-money because
55:31
they have a debit card and the guy on
55:33
the other side the debit card doesn't
55:35
know you know that you've got gold in
55:37
your account because he's getting euros
55:39
or dollars whatever you know whatever
55:40
whoever you're spending but i think it's
55:43
going to be like our fedex disrupting
55:46
the post office or uber disrupting the
55:49
taxicabs the government's product
55:52
government money is no good
55:55
it loses value every year through
55:56
inflation you put your money in the bank
55:59
you get no interest and there's always
56:01
the risk that the bank fails so you got
56:03
to put your money into the banking
56:04
system where it's at risk they pay you
56:06
nothing for taking that risk and
56:08
inflation is eroding away the value of
56:11
the money that you don't spend
56:12
alternatively you open up a gold money
56:15
account you have real gold in your
56:16
account
56:17
it doesn't use value there's no risk of
56:19
failure because it's not a bank account
56:21
it's not a liability you own the goal in
56:24
fact you could take physical delivery of
56:25
your gold whenever you want it
56:26
that was my next question what about the
56:28
people who say well I don't trust people
56:30
who say they have the goals I can't
56:32
touch it
56:32
no you can have it when
56:34
were you want you going to order it out
56:35
you can get it in as small as 10 gram
56:38
cubes right so it's there it's
56:41
deliverable is yours
56:43
I and but you know i can buy a cup of
56:45
coffee with i can buy a packaging gun so
56:48
you can spend tiny amounts of your gold
56:50
or i can buy a car with I can you know
56:51
why whatever I want so I think it's a
56:54
great system I think it's just going to
56:56
explode it's like a paypal only better
56:58
because it's paypal with gold right and
57:02
it's going to be universal ones are
57:05
right there i think i'm going to take
57:06
payments with this because I've been
57:08
taking payment of course caching and so
57:09
on Bitcoin what's your take on Bitcoin
57:12
before we can talk about gold money
57:13
again because i want to because i think
57:14
yeah I think gold money is better than
57:16
Bitcoin because bitcoin has no history
57:20
as being a a commodity
57:24
it's just being used as as money but it
57:28
has no alternative use other than that
57:31
so if people decide they don't want you
57:34
know Bitcoin anymore it's worthless but
57:37
gold has a multi-thousand your history
57:40
as a valuable element as a valuable
57:43
commodity that people want irrespective
57:46
of its up you know function as as money
57:50
so you you really know what gold is
57:52
worth you have long-standing
57:53
relationships between an ounce of gold
57:56
and a barrel of oil you know I mean you
57:59
go back to Roman times and you know if
58:01
you lived in a room thousands of years
58:03
ago a quality toga Roman toga that you
58:06
know maybe a senator would buy that
58:09
Roman toga cost announced the goal a
58:12
good toga
58:13
well how much is a good suit gold 1,200
58:15
bucks in out that's about the size of
58:17
the cost of a of a quality men's suit
58:19
right you have that relationship going
58:22
back thousands years you know how much
58:25
the total cost in Bitcoin well who the
58:27
hell knows Bitcoin didn't exist until
58:28
five six years ago so you don't have a
58:31
historic relationship between bitcoin
58:33
and bitcoin has no value can't do
58:35
anything with this point when I've got
58:37
gold on a ring I've got gold in my watch
58:40
people have gold in their teeth
58:41
there's gold in cellphones golden
58:43
medicine people use gold right it has
58:46
you know you could do that
58:47
as with other than spend it as money so
58:50
you know yeah i mean taking payment i
58:53
mean if you're gonna take payment in
58:54
gold it's cheaper it's cheaper than visa
58:56
is cheaper the mastercard it's the
58:58
cheapest way to transact online and
59:02
through gold and of course you know i do
59:03
you have to be online there are maybe I
59:05
could just you can have a nap i think
59:08
advice if my cell phone is next to your
59:10
celebrated directly like pass them on my
59:12
goal right for me to you
59:14
well there's this concern that people
59:16
have with Bitcoin dead government may
59:19
say milk enough no more of this but gold
59:22
as you say you want a thousand-year
59:24
history 3784 program is what is she on
59:26
the website right now and put away if
59:28
you have bitcoins you can use your
59:30
bitcoins to buy gold into your goal
59:33
money account they accept Bitcoin how
59:35
you can buy your how old with your
59:37
bitcoins so that's what I'm going to do
59:38
that because I get in a fight cold but
59:41
3784 program say somebody puts a
59:44
thousand dollars with the gold
59:46
fluctuation what happens next day when
59:48
the gold changes to have 1000 yeah your
59:52
gram total stays the same so if you have
59:54
a thousand grams unless you spend it
59:57
right your thousand grams are still
59:58
there but the dollar value of those
60:00
grams is going to fluctuate as the price
60:03
of gold changes so if the price of gold
60:05
goes up one percent I then your goal is
60:09
worth one percent more than you paid if
60:11
the price of oil goes down one percent
60:13
then your grams are worth one percent
60:14
last right there's gonna be a
60:16
fluctuation but I think over time the
60:18
price of gold is going to go up when it
60:20
went when the century began right goal
60:23
was under 300 hours and out
60:25
it's more than triple it so you know and
60:27
i think it's got a long way to go you go
60:29
back to nineteen seventy one goal was
60:31
thirty-five dollars and out now it's you
60:33
know 1175 right so it's a gold goes up
60:37
it doesn't go up every day it doesn't
60:39
even go up every year but over time it
60:42
just goes up you know that's the
60:44
opposite of dollars or euros or yen they
60:47
just go down over time they buy less and
60:49
less than less if you think back it know
60:52
what could you buy for a dollar
60:54
ten years ago what could you buy 20
60:55
years ago you know versus what you can
60:57
buy today
60:58
you can find more with your goals but
61:01
you buy less with your dollars right
61:03
prices go down in terms of gold but they
61:06
go up in terms of dollars would you
61:09
recommend is more for somebody who wants
61:10
to make a deposit for long-term rather
61:13
than somebody who wants to go put money
61:14
in and out
61:16
no bows i mean you use it i mean you can
61:19
use your gold for commerce and where you
61:21
can save it right for the future and
61:23
spend it later but the beauty of gold
61:25
money is your goal is liquid at all
61:27
times in fact i have my credit card in
61:29
my wallet my debit card and basically
61:31
i'm carrying around all my gold you can
61:33
have a million dollars worth of gold in
61:35
your account and you're carrying it
61:38
around in your wallet
61:39
it's ok you can do you get buy a house
61:42
with it you wanted to but also or I
61:45
could buy you know something small so
61:48
it's great you know and there's free
61:50
storage i'm up to a thousand grams which
61:52
is about 40 grand that's free storage
61:54
then cost you anything sort I mean it's
61:56
the best deal online no storage costs
61:59
its allocated gold is your goal is gonna
62:01
bring vault you can select involved in
62:04
Switzerland or vault in Singapore or
62:07
toronto or go anywhere in the world you
62:09
want you know you can see how much you
62:11
have we're involved in and good thing
62:13
too is if you refer your friends you can
62:16
earn some free gold for everybody that
62:18
signs up so you know you as you
62:20
introduce more people into the community
62:21
by emailing everybody that has an
62:24
account gets a special code and then you
62:27
can send that code to your friends by
62:29
email or text and then if they use that
62:31
code to sign up you'll get a little free
62:33
goal that you could spend it
62:35
this is great information for all our
62:37
listeners starting the new year with a
62:39
safer place to put your money
62:41
what happened such a forty thousand
62:42
dollars well then you're going to start
62:44
paying it's very low i think inside like
62:46
15 basis points 2 years so four hundred
62:49
thousand dollars a Gold Glove that I
62:52
think it'd be kinda hard to get our year
62:54
for the storage so it's a lot you know
62:57
to have your bedroll store but for a lot
62:59
of people never even get to the forties
63:01
out you know the hot thousand grams but
63:03
by the way to right now if you sign up
63:05
right now we just launched a promotion
63:07
today who have to be to 10 people that
63:09
sign up the most users right in their
63:12
referral between now I think january
63:15
something the top 10 people will be
63:17
auctioned off and that the winners are
63:18
going to get two tickets to this year's
63:20
Super Bowl plus airfare to that too i
63:23
think it's houston higher fare in three
63:26
days hotel and the tickets though
63:28
those who are listening to very test
63:30
tonight that I want to refer to gold
63:32
money is their way to look at a special
63:34
link for them to grow up
63:36
yeah well i mean if you want to if you
63:38
you can put the link on your site and
63:40
then on the website to your show make a
63:43
banner and let people click on it and
63:45
then every time they find out you'll get
63:47
a little gold
63:47
let's do that folks because as you know
63:49
any any any funds that come our way
63:51
helps with Productions will just go to
63:53
our website that retails radio.com that
63:55
will have a banner right there but we
63:57
have one more hour left with Peter shift
63:59
when we come back Peter was able to
64:02
envision what the collapse was going to
64:04
be and he's officially another one like
64:07
him to paint a picture what the tripwire
64:10
event might be the most importantly how
64:13
to circumvent adore how to protect
64:15
yourself from it
64:17
Peter how can people get in touch with
64:19
your work and be more familiar with it
64:21
well there's a lot of ways to find me on
64:24
the internet first of all you know i do
64:25
my own uh blog a podcast rather I used
64:30
to do our daily syndicated radio show
64:32
which I no longer had time to do so i
64:34
stopped at the peter schiff show but I
64:36
do this podcast on shift radio.com so
64:39
check that out and the podcast is you
64:41
know also you itunes stitcher wherever
64:44
that podcast and pick it up
64:46
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Sunday, February 19, 2017
Why We Are on the Verge of the Biggest Depression since 1929
The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.
It began in 2007 with a crisis in the subprime mortgage market in the USA, and developed into a full-blown international banking crisis with the collapse of the investment bank Lehman Brothers on September 15, 2008. Excessive risk taking by banks such as Lehman Brothers helped to magnify the financial impact globally. Massive bail-outs of financial institutions and other palliative monetary and fiscal policies were employed to prevent a possible collapse of the world's financial system. The crisis was nonetheless followed by a global economic downturn, the Great Recession. The Eurozone crisis, a crisis in the banking system of the European countries using the euro, followed later.
Hyperinflation inflation
A downturn, or a crisis, does not mean that the current system comes to a halt. There is nothing to suggest that the present crisis is paving the way for the collapse of the capitalist system. It signifies the opening of a new epoch in history, in which some of the old structures give way and new forms may develop to radically affect the global structures of power and hegemony. However, if the current pattern of global imbalances and vulnerabilities persists, so will recurrent financial and economic crises of the kind we have seen recently.
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2017 The Collapse of America -- Why The Market will Crash in 2017
Is 2017 going to be the year of evaporating imaginary wealth?
Wealth - real and imaginary.
Central Banks and the wealth effect.
Real wealth comes from the real economy where real products and services are traded.
This involves hard work which is something the financial sector is not interested in.
The financial sector is interested in imaginary wealth – the wealth effect. Hardly any of their lending goes into productive lending into the real economy.
They look for some existing asset they can inflate the price of, like the national housing stock. They then pour money into this asset to create imaginary wealth, the bubble bursts and all the imaginary wealth disappears.
1929 – US (margin lending into US stocks)
1989 – Japan (real estate)
2008 – US (real estate bubble leveraged up with derivatives for global contagion)
2010 – Ireland (real estate)
2012 – Spain (real estate)
2015 – China (margin lending into Chinese stocks)
Central Banks have now got in on the act with QE and have gone for an “inflate all financial asset prices” strategy to generate a wealth effect (imaginary wealth). The bubble bursts and all the imaginary wealth disappears.
The wealth effect – it’s like real wealth but it’s only temporary.
The markets are high but there is a lot of imaginary wealth there after all that QE. Get ready for when the imaginary wealth starts to evaporate, its only temporary. Refer to the “fundamentals” to gauge the imaginary wealth in the markets; it’s what “fundamentals” are for.
Canadian, Australian, Swedish and Norwegian housing markets are full of imaginary wealth. Get ready for when the imaginary wealth starts to evaporate, its only temporary. Refer to the “fundamentals” to gauge the imaginary wealth in these housing markets; it’s what “fundamentals” are for.
Remember when we were panicking about the Chinese stock markets falling last year?
Have a look at the Shanghai Composite on any web-site with the scale set to max., you can see the ridiculous bubble of imaginary wealth as clear as day.
The Chinese stock markets were artificially inflated creating imaginary wealth in Chinese stocks, it was only temporary and it evaporated.
It’s what happens.
“Stocks have reached what looks like a permanently high plateau.” Irving Fisher 1929.
Irving Fisher’s belief was based on an absolute faith in markets based on neoclassical economics which states markets reach stable equilibriums.
How have we fallen for this nonsense a second time?
In 2007, Ben Bernanke could see no problems ahead.
Ben Bernanke’s belief was based on an absolute faith in markets based on neoclassical economics which states markets reach stable equilibriums.
In 2015, everyone was panicking about the fall in the Chinese stock market.
Everyone’s panic was based on an absolute faith in markets based on neoclassical economics which states markets reach stable equilibriums.
In 2016, no one can see any problems with the housing markets in Australia, Canada, Sweden and Norway.
Everyone’s belief is based on an absolute faith in markets based on neoclassical economics which states markets reach stable equilibriums.
Just like Irving Fisher in 1929 when he said “Stocks have reached what looks like a permanently high plateau.”.
It was wrong then and its wrong now.
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Does The CIA Spread Fake News?
President Donald Trump has accused the CIA of spreading scandalous fake news to discredit him. But is it true?
Trump said. “Because it’s made up. Never existed. Never happened. And the reason I say that so strongly because nothing’s ever going to show up. There’s never going to be a tape that shows up. There’s never going to be anything that shows up.” Trump added that he would be “very embarrassed if a tape actually showed up saying something like that. It would be double embarrassed, because I’m saying there is no tape, there is no tape. There was no event.”
Trump on Russian kompromat: "There’s never going to be a tape that shows up. There’s never going to be anything that shows up."
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Trump said. “Because it’s made up. Never existed. Never happened. And the reason I say that so strongly because nothing’s ever going to show up. There’s never going to be a tape that shows up. There’s never going to be anything that shows up.” Trump added that he would be “very embarrassed if a tape actually showed up saying something like that. It would be double embarrassed, because I’m saying there is no tape, there is no tape. There was no event.”
Trump on Russian kompromat: "There’s never going to be a tape that shows up. There’s never going to be anything that shows up."
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2017 China Economic Collapse -- Reasons Why China is headed for a 1929-style Depression
China's banks are partially privatized central planning. They have tons of bad loans all the time that the government buys and writes down on a regular basis. The government prints its own money and gives it to the banks for their bad loans. The banks must follow government lending dictates. The one party system has so far kept corruption under reasonable control. Our system would not be able to handle that big of a temptation.
Any comparison between China and US is going to be useless due to political differences.
That said, investors are trying to exit property at the moment.
But exit to where? Where is safe?
Everything is a Ponzi at this point.
Mr Xie
“If you keep on printing money to use for speculation, you will have hyperinflation and a currency crash,”What about printing $85 billion a month for 14 months?
Hyperinflation and a currency crash?
Or strong currency and telling everybody else what to do?
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Gerald Celente : The Day of The Almighty Petro Dollar coming to an End
Gerald Celente:
Publisher of The Trends Journal
Founder& Director, The Trends Research Institute
Forecasting worldwide since 1980, Gerald Celente has earned the reputation as “today’s most trusted name in trends” for his accurate and timely predictions. Among them:
• The "Panic of ’08" (financial meltdown): forecast in November 2007
• The "Great Recession" to begin in 2007: forecast Jan. 2004
• "Technotribalism" (rise in social networking): forecast Oct. 1993
• Real Estate Peak/Decline to Follow: forecast Dec. 2004
• Dot-com Bust (to hit by second quarter of 2000): forecast Oct. 1999
• "Gold $2,000": forecast Dec. 2001
• Tax Protests: forecast Dec. 2007
• "Economic 9/11" (predicting Sept.'08 financial calamity): forecast Dec. 2007
• "Little People Squeeze" (squeezing taxpayers): forecast Dec. 2008
• Decline of U.S. Automakers: forecast Oct. 2005
• "Back to the Land" trend: forecast March 1995
• "Buy Local" trend: forecast Oct. 1993
Gerald Celente : well look at the 0:48 price of gas member of the petrol 0:51 dollars and what we have gas prices out 0:53 now we're seeing brent crude $125 of 0:57 barrel and what they're really doing is 1:00 they're creating the same scenario that 1:02 they did to blow up the bubble that 1:05 ended with the real estate crisis in the 1:08 financial credit crisis so go back to 1:11 2000 and the nasdaq crash what did they 1:15 do well after nine eleven Alan Greenspan 1:18 began to low interest rates the 46 year 1:22 lows of course the nation was in a 1:24 recession and they use that as an excuse 1:27 so they're doing the same exact thing 1:30 now only but a little differently in the 1:33 sense that now the Federal Reserve is 1:35 said that interest rates are going to 1:37 remain low essentially throughout 2012 1:41 2014 and what are they doing well now 1:45 it's a different kind of bubble so now 1:47 consumers are again going into debt 1:50 losing their savings and borrowing more 1:53 building up more credit cards that 1:55 student loans again more debt 1:58 what's fueling the equity market it's 2:01 simple low interest rates so they're 2:04 creating another bubble in the Europeans 2:06 are doing the same thing with their 2:08 central bank by dumping what about 1.3 2:12 trillion euro 2:13 goes into the banking system since the 2:15 end of last year and loaning it out to 2:19 banks that virtually no interest rates 2:21 of course the bricks want to come up 2:24 with another currency because they know 2:26 they're getting shafted now I'm we are 2:30 the US has a very big problem that you 2:32 just mentioned but there's also this 2:34 crisis in the eurozone which currency do 2:37 you think is in more trouble 2:38 I think right now the the eurozone is in 2:42 much deeper trouble but again its 2:45 relative it's which one is going to go 2:47 first and lives when you read the quote 2:50 by Dilma Rousseff the president of 2:54 Brazil at the brick meeting recently she 2:57 said quote it will not be overcome 2:59 simply through measures of austerity the 3:02 crisis that started in the developed 3:04 world or fiscal consolidation and 3:08 depreciation of Labor course let alone 3:11 through quantitative easing policies 3:14 that have triggered what can all lead be 3:17 described as the monetary tsunami has 3:22 led to a currency war and had introduced 3:25 new and perverse forms of protectionism 3:28 around the world what she's saying is 3:31 very important go back to the crash of 3:34 1929 what was that the crash a 3:37 depression as you have now a lot of the 3:40 world of deep recession followed by 3:42 currency wars followed by trade Wars 3:46 followed by World War 2 the same 3:50 scenario since the panic about weight is 3:53 playing itself out again 3:55 now we are saying seeing the bricks just 3:57 last week there they want to take 3:59 matters into their own hands and say hey 4:01 we don't need to use the dollar we want 4:02 to trade in our own currency but if 4:05 there is girl this shift away from the 4:08 dollar as a world reserve currency what 4:10 I would replace that well again probably 4:13 a basket of currencies and oddly enough 4:15 the sonic the the head of the World Bank 4:19 who about two years ago came out and 4:22 said that there should be a basket of 4:23 currencies of which goal should be part 4:26 of it 4:27 has also come out in favor of the bric 4:31 nations deciding that they want another 4:33 finance vehicle he said quote i'm going 4:36 to cut enough of an economist that i'm 4:38 not a monopolist so something new is 4:40 going to be created and it's very 4:42 important that the dollar became the 4:44 reserve currency after World War Two 4:47 with the bretton woods agreement and at 4:50 that time when you go back the United 4:52 States is the only game in town 4:55 Europe was destroyed there was no Russia 4:57 in the business 4:58 china it was behind you know the the i 5:01 encourage that they had the yellow 5:02 curtain over there you had no India 5:05 Brazil was Brazil doing this is a whole 5:09 new world it's beyond the post-world War 5:12 to World it's a 21st century world and 5:16 the time definitely are changing 5:17 especially with the US now not as 5:20 powerful as it once was in terms of the 5:23 economy at least and we see the BRICS 5:24 nations their their economies are 5:27 growing at a very rapid look rapid rate 5:30 so Gerald how soon if we do see this 5:32 shift to a different world reserve 5:34 currency when would that happen I would 5:37 expect it to happen after the 5:39 presidential election they're going to 5:42 do everything they can to try to keep 5:43 this going and to try to soothe any kind 5:47 of ripples coming from around the world 5:49 but you know this is much bigger than 5:51 just a dollar crisis it's really the 5:54 decline of empire American so many 5:56 different ways whether it's waging it's 5:59 losing wars overseas and draining its 6:01 Treasury whether it's the mountains of 6:04 debt that they're piling up or whether 6:07 the declines in virtually every oecd LED 6:11 industry whether it's quality of life 6:13 healthcare the list goes on and on 6:16 so what we're seeing is decline of of 6:19 america and the building up a really a 6:22 21st century economy I think it's going 6:25 to happen after the elections now 6:27 ultimately what would this mean because 6:29 you know economist are talking about 6:31 what the implications of this could be 6:33 but why should be average US citizen 6:34 care if the dollar is no longer the 6:37 world reserve currency what are the 6:39 implications for 6:40 Americans solo is standard of living it 6:43 continues to decline and the price of 6:45 everything costs more 6:47 the United States of course like you 6:49 know the the eurozone has the the 6:52 leverage to print it sound money so the 6:55 more that they print the cheaper the the 6:57 the less the value so what this means to 7:00 Americans is a continued decline of 7:03 quality of life and I don't say that is 7:06 just a throwaway phrase by all indices 7:09 for example median household income is 7:12 more than 1999 levels when you see the 7:16 decline of this bit ly the decline of 7:19 real wages over the last quarter 7:22 it's one after another so that's what it 7:25 means 7:26 and speaking of quality of life Gerald 7:27 what kind of plays into that as well as 7:29 gas prices 7:31 exactly that's what i was saying that 7:33 it's Petro dollars and again this came 7:36 about it only in the nineteen seventies 7:38 and that we're going to start pulling 7:41 off that as you're already starting to 7:43 be seen 7:44 so it you look at the price of 7:46 everything I would by the way how 7:48 foolish of me to talking you to talk 7:51 about oil prices because the federal 7:54 reserve that does not include food and 7:56 fuel into our core index so we just have 8:00 to throw that away because after all we 8:03 don't have to eat or use fuel what-what 8:06 deranged mind would really include that 8:09 into a core index the books are being 8:12 cooked the numbers are a lot worse than 8:14 they are and all the Federal Reserve is 8:17 doing 8:18 I believe it's pumping this up to make 8:20 it so that it looks like there's a 8:23 recovery up until Election Day 8:25 alright scary stuff to Carol thank you 8:28 so much for coming on the show and 8:29 sharing your views of us i was jailed 8:31 for 13 publisher at the trans journal 8:33 and director of the trends Research 8:35 Institute
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Saturday, February 18, 2017
BREAKING: "The Apocalyptic Crashes Happen Again"
Transcript : serious are you serious 0:10 am I almost live live live yes i am ok 0:14 alright guys there's been some 0:15 apocalyptic crack uh it's never good 0:20 when it starts to happen but we've got 0:22 night 0:24 that at least maybe more in Argentina a 0:28 bus traveling to Chile just flipped off 0:30 early this morning killing at least 19 0:34 people road 0:39 ward 32 of those people were Argentines 0:42 there was three kids on there 0:47 and so we're very concerned at least 19 0:50 or dead at least and it's an ugly see 0:53 and I've noticed that there's patterns 0:55 when there's busing derailments plane 0:57 crashes or by in the ocean sometimes so 1:00 doesn't happen to deadly train 1:03 derailment in Belgium one dead 27 1:05 injured and this horrible bus crash in 1:09 Argentina or 19 or dead and maybe more 1:12 in a terrible scene they're all right 1:14 anyway great to see everybody here uh 1:18 for those of you with me give me just 1:20 one second I don't know where I'm at 1:22 but I won't try my best to keep you up 1:24 to speed with things that are going on 1:26 anyway it's just a terrible terrible 1:29 situation developing and we're going to 1:32 stay on all right and we're here with 1:35 our son our daughter-in-law and our 1:38 little baby 1:39 Carson which will will show Carson it to 1:42 you when she's ready she is not 1:44 camera-ready at this moment but she is 1:49 sweet 1:50 all right i'll see you guys a little 1:51 while god bless all of you are you 1:53 serious are you serious 1:56 we survived the storm by the way but 1:58 there was one that one death in 2:00 victorville california from flooding 2:02 that was roofs blown off for some high 2:05 winds there was flooding flash flooding 2:08 and our biggest concern is still 2:10 Oroville California is damn pray for 2:13 those folks there 2:14 what
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President Trump vs CNN Reporter
"Don't believe the main stream (fake news) media.The White House is running VERY WELL. I inherited a MESS and am in the process of fixing it." Donald Trump tweeted recently , "The FAKE NEWS media (failing @nytimes, @NBCNews, @ABC, @CBS, @CNN) is not my enemy, it is the enemy of the American People!" "One of the most effective press conferences I've ever seen!" says Rush Limbaugh. Many agree.Yet FAKE MEDIA calls it differently! Dishonest" he added
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Final B[a]ttle For The World Begins: But Will Trumpian Forces Unite?
Information W[a]rfare is a concept involving the use and management of
information and communication technology in pursuit of a competitive
advantage over an opponent, and whose first use the America’s began in
1774 when the British Crown Post Office dismissed from his duties
Benjamin Franklin—who then went on to become one of the world’s greatest
political theorists, an American Founding Father, and one of the most
powerful Freemasons to have ever to have lived.
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The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more
End Times Is Too Extreme | Pastor Cioccolanti is Going Too Far!
Jesus promised to reward those whom He finds waiting for their Master's Return! Are you prepared?
Transcript : I know that a lot of people have 0:14 commented to us over the years that you 0:17 know they don't do n times they don't 0:20 talk about end times because they find 0:22 it too deep too hard too extreme to 0:25 fundamental and I just wanted to address 0:28 this very briefly we have here dr. james 0:31 dobson recently said the fall of Western 0:34 civilization is at hand 0:36 would you call dr. james dobson founder 0:40 of focus on the family a bit too extreme 0:43 no he's a pretty even keel respectable 0:47 voice in the body of Christ and if 0:50 you're not listening to us maybe you'll 0:52 listen to him because he discerns the 0:56 time and there many voices in the body 0:59 of Christ that is discerning the time I 1:01 know that their many Christian channels 1:03 out there and you can watch anything but 1:05 of all the things to be watching all the 1:07 things to be promoting and plugging i 1:09 just recently saw you know some 1:10 Christian sent out a thing that said you 1:13 know these like the five best YouTube 1:15 channels out there recommends them and 1:18 you know some of them have like 2,000 1:20 followers eight thousand followers and 1:22 I'm not bagging that you know we all 1:24 have to start somewhere but i'm thinking 1:26 hang on a second 1:27 you know where we're at a hundred 1:29 thousand followers but why do we not 1:32 always get the you know accolades of our 1:35 fellow peers because there's such a fear 1:38 and such an auntie endtime sentiment 1:40 among the church it's almost as if 1:42 people feel like all of its and time we 1:43 can't live we never said that if it's if 1:46 your God called you to study you study 1:48 and get the best grades and if you do 1:50 that you pass your exam Jesus comes back 1:52 you'll get your reward if you're 1:54 supposed to you know invent something 1:57 build a building develop property 1:59 whatever it is that you're supposed to 2:00 do raise your kids 2:02 alright if you do that to the best of 2:04 your ability and you're obeying God in 2:06 your call it doesn't matter really when 2:08 he comes you will be rewarded for 2:11 obeying him and being faithful to him so 2:13 we never have this fatalistic teaching I 2:16 think our church people understand that 2:17 but a lot of people out there are afraid 2:19 so when its end time the right away they 2:21 prejudge first they say it must be about 2:23 when the rapture is we hardly talk about 2:25 that 2:25 today we will learn a lot of people just 2:28 get afraid like they can't live today no 2:31 I think dr. James Dobson is aware that 2:34 we still have to build wonderful strong 2:37 healthy christian families in the church 2:39 we want to do that right even if it's 2:41 the end time 2:42 yeah and he's doing that and he's built 2:44 a great organization but you can't turn 2:46 a blind eye just say all nothing is 2:48 happening none of the signs are here 2:50 everything is going as it ever was 2:52 since the current since the creation of 2:53 the world that would be absolute 2:55 blindness we need to wake up to the time 2:58 like the ten virgins were asleep 3:00 we need to wake up how about this 3:01 respectable man of god Billy Graham you 3:06 know he wrote or he published in 2010 3:09 and I think 2010 was a key year in the 3:11 end times right the haiti earthquake 3:13 many things happen in 2010 that seemed 3:16 to be a pivot point and interestingly 3:18 Billy Graham who's been soul winning you 3:21 know more than most of us write all 3:25 these years he signaled that 2010 storm 3:28 warning do you call Billy Graham a bit 3:31 extreme 3:32 alright I I don't you don't you know 3:35 maybe somebody does but i think most 3:37 people don't 3:38 I think he's been a one of the very 3:40 respected voices for the body of Christ 3:43 and he said this back in 2010 3:46 there is only one answer to the travail 3:49 of this present age and is found in the 3:52 ageless pages of God's Word the Bible 3:54 the Bible repeatedly tells us that 3:57 someday Christ will return not in 4:00 weakness the way he came the first time 4:03 but with power and glory and with great 4:06 Authority we should be teaching our 4:09 people jesus is coming back his return 4:11 is near we don't have to be dogmatic 4:13 about when but we shouldn't be 4:15 completely oblivious to the signs of the 4:17 time that's how many people miss the 4:20 first coming of Jesus Christ what a 4:21 tragedy that was then Billy Graham 4:24 updated what he said in 2013 to world 4:28 net daily he wrote there's a great deal 4:31 to say in the Bible about the signs 4:34 where to watch for and when these signs 4:37 are 4:38 when these signs all converge at one 4:42 place we can be sure that we're close to 4:45 the end of the age and those signs in my 4:49 judgment are converging now for the 4:53 first time since Jesus made those 4:56 predictions are we on some fringe are we 4:59 on attention is this some fundamental 5:01 crazy thing 5:02 hey the leaders of the body of Christ 5:05 are crying out we're sounding the shofar 5:08 and I hope pastors out there who have 5:10 been turned off or maybe we're 5:12 disappointed back in the eighties or the 5:14 seventies and hurt so much teaching 5:17 nothing happened 5:18 please never be turned off the prophecy 5:20 this is part of God's Word and prophecy 5:24 is given to encourage us and also to 5:25 prove God's Word is true and to 5:27 encourage us that he's coming soon we 5:30 should live like that so I think this is 5:34 a bit extreme to see all that God is 5:37 doing and you see all that the Devils 5:39 doing to see the persecution of the 5:42 Christians in the Middle East the 5:43 absolute chaos that's goin on reaching 5:46 even into Europe and terrorism going on 5:48 everywhere even in Australia and to say 5:51 well come to nobody cares 5:55 planet Earth nobody cares we're all in 5:58 different we come to church we don't 6:00 care when the rapture could possibly 6:02 happen we don't care i think that that 6:05 is such an extreme that is a personal 6:08 extreme a theological extreme it is such 6:11 an extreme risk to take to say I will 6:14 ignore all the warning signs 6:17 I'm just gonna keep bulldozing ahead 6:19 like running towards a cliff and not 6:22 caring about how I live my life now that 6:26 to me in my humble opinion that to me is 6:29 too extreme for me to follow
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Gerald Celente: The Top Trends For 2017
In this episode returning guest Gerald Celente from the Trends Research Institute shares the top trends for 2017. Gerald discusses trends identified including "Make it New", "Economic Disorder", "True Nostalgia", "R.I.P. Fourth Estate", "Rust Belt 2.0", “VR-ED”, “Ontrendpreneur®”, “No More Cash”, “Sell, Buy China” and “Reefer Money Madness”.
Gerald Celente, who developed the Globalnomic® methodology to identify, track, forecast and manage trends, is a political atheist. Unencumbered by political dogma, rigid ideology or conventional wisdom, Celente, whose motto is “think for yourself,” observes and analyzes the current events forming future trends for what they are — not for the way he wants them to be. And while Celente holds a U.S. passport, he considers himself a citizen of the world.
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The Engineered Takedown Of America By The LEFT
The intelligence community, the mainstream media and the corrupt DC
establishment are waging a coup against President Donald Trump
attempting to sabotage the first days of his presidency.
Alex Jones explains the engineered takedown of society and ties it in with previous military training targeting the American people.
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Alex Jones explains the engineered takedown of society and ties it in with previous military training targeting the American people.
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Explosive Revelation : Drug Lord Pablo Escobar Worked for the CIA says his Son
Pablo Escobar’s Son Reveals His Dad Worked for the CIA Selling Cocaine
Colombian drug lord Pablo Escobar's ambition and ruthlessness made him one of the wealthiest, most powerful and most violent criminals of all time. IN THESE GROUPS International Criminals Famous People Born on December 1 Famous People Who Died on December 2 Famous People Who Died in 1993 1 of 6 quotes “What is worth most in life are friends, of that I am sure. Unfortunately, along life's paths one also meets people who are disloyal.” —Pablo Escobar Synopsis Pablo Escobar, born on December 1, 1949, in Antioquia, Colombia, entered the cocaine trade in the early 1970s. He collaborated with other criminals to form the Medellin Cartel and eventually controlled over 80% of the cocaine shipped to the U.S. He earned popularity by sponsoring charity projects and soccer clubs, but later terror campaigns that resulted in the murder of thousands turned public opinion against him. He was killed in 1993. Background and Early Life Pablo Emilio Escobar Gaviria was born on December 1, 1949 in the Colombian city of Rionegro, Antioquia, with his family later moving to the suburb of Envigado. He came from modest means; his father worked as a peasant farmer while his mother was a schoolteacher. From an early age, Escobar packed a unique drive and ambition to raise himself up from his humble beginnings. As a young man, he told friends and family that he wanted to become president of Colombia. Yet as he saw it, his path to wealth and legitimacy lay in crime. He got his start as a petty street thief, stealing cars before moving into the smuggling business. Escobar’s early prominence came during the “Marlboro Wars,” in which he played a high-profile role in the control of Colombia’s smuggled cigarette market. This episode proved to be a valuable training ground for the future narcotics kingpin. Rise to Power It wasn’t by chance that Colombia came to dominate the cocaine trade. Beginning in the early 1970s, the country became a prime smuggling ground for marijuana. But as the cocaine market flourished, Colombia’s geographical location proved to be its biggest asset. Situated at the northern tip of South America between the thriving coca cultivation epicenters of Peru and Bolivia, the country came to dominate the global cocaine trade with the United States, the biggest market for the drug, just a short trip to the north. Escobar moved quickly to grab control of the cocaine trade. In 1975, Medellin drug trafficker Fabio Restrepo was murdered. His killing, it’s believed, came at the orders of Escobar, who immediately seized power and expanded Restrepo’s operation into something the world had never seen. Under Escobar’s leadership, large amounts of coca paste were purchased in Bolivia and Peru, processed, and brought to America. Escobar worked with a small group to form the infamous Medellin Cartel. By the mid-1980s, Escobar controlled more than 80 percent of the cocaine smuggled into the United States. More than 15 tons of cocaine were reportedly smuggled each day, netting the Cartel as much as $420 million a week. Astronomical Wealth The cash was so prevalent that Escobar purchased a Learjet for the sole purpose of flying his money. With an estimated worth of $30 billion, Escobar was named one of the ten richest people on earth by Forbes. Even as his fortune and fame grew, Escobar didn’t relinquish his dream to be seen as a leader. In some ways he positioned himself as a Robin Hood-like figure, which was echoed by many locals as he spent money to expand social programs for the poor.
Transcript : please open mind discern this in all 0:13 information 0:14 februari 17 2017 Pablo Escobar son 0:20 reveals his dad worked for the CIA 0:22 selling cocaine posted on the 0:25 freethought project.com by claire 0:29 burnish Juan Pablo Escobar handle son of 0:33 notorious medellin cartel drug kingpin 0:36 Pablo Escobar now says his father worked 0:39 for the CIA in a new book Pablo Escobar 0:43 in frag auntie Escobar who lives under 0:47 the pseudonym juan sebastián American 0:49 explains his father worked for the CIA 0:52 selling cocaine to finance the fight 0:54 against communism in Central America the 0:58 drug business is very different than 1:00 what we dreamed he continues what the 1:03 CIA was doing was buying the controls to 1:06 get the drug into their country and 1:07 getting a wonderful deal he did not make 1:11 the money alone American elaborated in 1:13 an interview but with US agencies that 1:16 allowed him access to this money he had 1:19 direct relations with the CIA notably 1:22 American added the person who sold the 1:26 most drugs to the CIA was Pablo Escobar 1:29 where his first book primarily covered 1:32 Escobar the man is a father marroquin 1:35 second which has just been released in 1:37 Argentina delves into the kingpins 1:39 international ties of corruption in 1:41 which my father had an active 1:43 participation among them with the 1:45 American CIA he said in a recent 1:47 interview those government associates 1:51 were practically his partners which 1:53 allowed Escobar to defy the law and gave 1:56 him nearly the same power as a 1:58 government predictably this information 2:01 is conveniently absent from media 2:03 headlines in America if the CIA 2:06 trafficking cocaine into the United 2:08 States sounds like some tin foil 2:10 conspiracy theory think again their 2:14 alleged role in the drug trade was 2:16 exposed in 1996 in an explosive 2:19 investigative series dark alliance by 2:21 Gary Webb for the San Jose Mercury 2:23 enews the investigation headed up by web 2:27 revealed ties between the CIA Nicaraguan 2:30 Contras and the crack cocaine trade 2:32 ravaging african-american communities 2:34 the investigation provoked massive 2:37 protests and congressional hearings as 2:40 well as overt backlash from the 2:42 mainstream media to discredit website 2:44 reporting however decades later 2:47 officials would come forward to 2:49 backwards original investigation up then 2:53 senator john kerry even released a 2:55 detailed report claiming that not only 2:57 was there considerable evidence linking 2:59 the contrary effort to trafficking of 3:01 drugs and weapons but that the u.s. 3:03 government knew about it 3:05 el patrón as Escobar came to be known 3:08 amassed more wealth than almost any drug 3:11 dealer in history at one point raking in 3:13 around 420 million dollars a week in 3:16 revenue and reportedly supplied about 3:18 eighty percent of the world's cocaine 3:20 Escobar landed on forbes list of 3:23 International billionaires for seven 3:25 straight years and though the nature of 3:27 the business makes acquiring solid 3:29 numbers impossible his estimated worth 3:31 was around 30 billion dollars 3:34 Escobar in the Medellin Cartel smuggled 3:37 15 tons of cocaine into the u.s. every 3:39 day and left a trail of thousands of 3:42 dead bodies to do so it was a 900-mile 3:45 run from the north coast of Colombia and 3:48 was simply wide-open journalist you and 3:50 Grillo wrote in the book el marco inside 3:53 Mexico's criminal insurgency the 3:57 Colombians and their American 3:58 counterparts with airdrop loads of 4:00 blowout to see from where it would be 4:02 rushed to short and speedboats or even 4:05 fly it right onto the floor of the 4:07 mainland and let it crash down in the 4:09 countryside if what marroquin reveals in 4:12 the new book is indeed true it would 4:15 mean the CIA played a major role in 4:18 ensuring Americans had access to 4:20 boundless quantities of cocaine while 4:22 the US government sanctimoniously railed 4:24 against drugs to promote the drug war in 4:28 fact as marroquin keenly observed drug 4:31 prohibition makes for the best prodrug 4:33 propaganda the nature of something being 4:35 illegal naturally 4:37 gives it greater appeal that prohibition 4:40 guaranteed Escobar's bloody rain would 4:42 be all the more violent marroquin now 4:45 believes his path of healing is 4:47 reconciliation with the relatives of 4:49 those whom his father ordered to kill 4:50 while Escobar certainly used violence or 4:55 ordered others to use violence to 4:57 effectively foment and maintain power he 5:00 wasn't without a charitable bone in his 5:02 body as business insider notes he was 5:06 nicknamed Robin Hood after handing out 5:08 cash to the poor building housing for 5:11 the homeless constructing 70 community 5:14 soccer fields and building a zoo 5:16 el patrón met his fate in 1993 by 5:20 gunshot as he attempted to flee after 5:21 his house was surrounded 5:23 however the circumstances surrounding 5:26 his death are still being debated today 5:28 marroquin insists his father committed 5:32 suicide rather than be shot or captured 5:34 by police forces sent to hunt him down 5:36 while others believe Escobar was 5:39 absolutely slain by police 5:41 either way Escobar's accumulation of 5:44 wealth could be viewed as incidental to 5:46 the role he played for the CIA and the 5:48 war on drugs a massive hypocrisy serving 5:51 to keep people hooked on a substance 5:53 deemed illegal by the state so the state 5:55 can then reap the profits generated by 5:57 courts prisons and police work necessary 6:01 to fight the war on drugs 6:03 my father was a cog in a big business of 6:06 universal drug trafficking marroquin 6:08 explains and when he no longer served a 6:11 purpose for those using him that way 6:14 killers were sent to do away with the 6:15 problem the problem so many had a hand 6:18 in creating American who only revealed 6:21 himself as Escobar son in 2009 says he's 6:25 had to forgive members of his family for 6:28 their involvement in the drug business 6:29 and betrayal of his father but notes 6:31 that forgiveness doesn't mean forgetting 6:33 what happened but he has measured 6:36 perspective about the man who brutally 6:38 ruled the cocaine industry pablo escobar 6:41 is by no means a role model he asserts I 6:45 admire Pablo my father who educated me 6:50 not Escobar the mafioso marroquin noted 6:54 drug lords like his father might appear 6:57 to have everything as their status and 6:58 name garner attention but these material 7:01 gains in actuality take control in the 7:05 end the more power my father had the 7:08 poor he lived 7:09 thanks for listening and watching 7:11 subscribe and share
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The Next Stock Market Crash is Near? PROOF!
Transcript : we reach this moment in history where 0:17 our markets have completed reason just 0:22 massive profit targets and I want to 0:26 repeat this that you are you are part of 0:29 the group that is in the know you are 0:32 part of the group that has knowledge of 0:34 these events before they happen and we 0:37 had this type of information in in 2007 0:40 going into 2008 our markets had had a 0:44 failed breakout in we started a break-in 0:48 trend of Long's we had measured my 0:50 shorts will which will review here in a 0:51 moment but from the 1932 lows and this 0:57 is the 19 29 crash here we fell inside 1:03 of a series of measurements shorts there 1:06 was a series of measurements shorts 1:08 inside of the 19 29 crash which bottomed 1:13 out in 1932 in 1937 our markets traded 1:20 their full fifty percent retracement and 1:22 did not break out of that resistance 1:24 level until nineteen fifty-one at the 1:28 end of World War two 1:29 it took a full 20 years to break out of 1:34 that short set up and really set this 1:35 market up for a rally and now we've 1:38 created this this incredible bubble bond 1:44 market bubble the stock market bubble 1:46 and what is fascinating about our 1:48 markets in nineteen nineteen ninety nine 1:52 when we broke our trend and we had our 1:54 seven-year cycle which we'll talk about 1:57 here in a moment but first i want to go 1:58 to this longer-term trend we had a 2:01 pullback into a halfway back long from 2:02 1930 to lowes to highs 2:05 and that support level bounce we rallied 2:08 out of our 2003 lows and we had a failed 2:13 breakout in 2007 going in 2008 now both 2:17 of these are seven year cycles here and 2:19 weren't another seven year cycle but 2:21 what I want to point out here in this 2:23 longer-term trend is that we went to and 2:26 through our profit targets and when we 2:29 go through a target like this we have an 2:32 extension and the extension is drawn 2:36 from the previous highs of the last 2:38 traditional measured move to our highs 2:39 now that extension long double was 2:42 front-run and you can see here and that 2:45 the S&P 500 was also front-run we hit 2:48 this profit target of the extension and 2:52 we have not gone through and we've been 2:53 up at it for two months 2:55 my concern is that we're going to look 2:58 back on this and of course it won't we 3:00 have to be of the benefit of hindsight 3:01 because we've known that we're inside of 3:03 this pattern for two full months there's 3:05 been plenty of time to prepare for any 3:07 downside risk here going into the 3:10 seven-year cycle but there's a pull back 3:14 now from our same anchor to new highs 3:16 will talk about here in a moment all the 3:20 way down at the eighteen fifties so 3:22 let's go to a little bit said or a 3:26 smaller chart here what we're i'm 3:28 simulating as the support level from 3:30 that 1932 lows to highs which we bounced 3:33 off of very cleanly and what I want to 3:36 show you is and you can go back to go 3:40 back to and we teach team 1987 1994 3:46 every seven years we go through this 3:47 cycle and it is scary how technical it 3:53 has been over the last couple sessions 3:56 1987 was a sep tember and we had one of 4:02 the biggest crashes at that time that 4:03 the markets had ever seen 1994 was a 4:06 pullback it was an extension long level 4:08 from 97 ties to highs when we ran into 4:12 two thousand we had extension long 4:14 levels that were trading and then they 4:16 failed 4:17 and then the may for the spring before 4:21 2001 or 911 this spring set us up inside 4:31 of a 50-percent short which hits profit 4:33 target on 911 almost as if the market 4:36 knew what was going to happen that 4:38 September be fast forward another seven 4:42 years 4:43 we're at all-time highs again and then 4:45 the spring again 4:46 seven years later we have another 4:49 break-in trend that's time it was a 4:50 traditional measured move that failed 4:52 and the new bearish setup Lehman 4:56 Brothers failed failed and then we came 4:59 into a full fifty percent retracement 5:01 and they sold off of those levels almost 5:04 as if the market knew beforehand the 5:07 2008 financial crash would would happen 5:10 here rises going into September and 5:15 after 2009 of course we had our series 5:19 of measures move shorts that let us down 5:22 into those lows to fifty percent two 5:24 targets the 50-percent retracement 5:28 traded to its targets the new 50-percent 5:33 retracements from those highs to lows 5:35 defended their 61 a percent lines and 5:39 hit their profit targets what i want to 5:41 point out here is that in most cases the 5:44 lows in the highs of the market our 5:46 profit targets not necessarily support 5:48 or resistance cells they're actually 5:50 profit targets so after we broke our 5:53 series of measured moves the market 5:55 traded a series of traditional setups 5:57 coming out of those previous lives the 5:59 high as we trade pullbacks in 2009 we 6:02 trade pullbacks in 2010 we trade 6:05 pullbacks in 2011 and then we started 6:07 going straight up the previous highs as 6:11 we talked about on that longer-term 6:12 timeframe the 2007 highs 215 8675 to our 6:19 highest created this extension we're 6:22 going to drill down a little bit here 6:23 and talk about that 6:26 explore 6:28 setup that we had when I was showing you 6:30 in that longer-term timeframe the 6:34 extension long level and this also goes 6:36 our along with our seasonal or the 6:39 seasonality of our markets there are two 6:42 patterns to pay attention to what is the 6:44 seven-year cycle which every seven years 6:47 a profit taking market crush financial 6:50 crash tech bubble Savings and Loan 6:53 debacle whatever you want to call it 6:57 we don't know what the trigger will be 6:58 right now but what we know is that the 7:00 lows in 2009 with a lowes the profit 7:03 target of was the low of 2009 and right 7:07 now we have a profit target that's the 7:08 high of 2015 and our markets even in in 7:16 in some of the best case scenarios say 7:18 that we do defend our new extensions 7:20 have a 250 point drop here back down 7:24 into the next support level and my 7:27 concern is moving forward right now is 7:30 that our little double top here on top 7:33 of a profit target will set us up in a 7:35 very similar fashion that we had in may 7:38 of 2008 and at this time during on 7:43 markets you can you can go back and look 7:45 if you want we have all those you know 7:47 videos replayed that you can you can 7:50 replay we were sitting inside of these 7:52 resistance levels and confirming our 7:53 daily short and we did we had a series 7:57 of extensions that were broken we 7:59 validate the daily short we had a new 8:01 measured move short here coming out of 8:02 the 14 hundreds i feel like this is a 8:05 moment in time where we are put in a 8:09 situation where we are literally 8:10 repeating history 8:12 seven years later and I feel lucky and 8:17 blessed enough to be able to have a 8:19 platform here to warn people again as i 8:23 was able to do in 2008 to potential 8:26 downside risk to our markets at this 8:28 current time 8:29 ok now doesn't mean that the markets are 8:32 necessarily bearish yet but they could 8:35 turn bearish if we break our extensions 8:38 it if we break our highest highs are 8:41 2007 highest highs extensions that are 8:45 markets are literally in a freefall 8:47 that's a ten percent slide as well 2.com 8:54 about you think about this 21 twenties 8:57 what is a ten percent decline that's 220 9:01 points we won't even have touched the 9:05 new extension long level yet 9:08 by the time we have a 10-percent down 9:10 into that new support level that is a 9:13 devastating event for the markets if we 9:15 trade this new extension because my for 9:16 many if we have a 10-percent slide and 9:18 we don't rally the next day the markets 9:21 are in indy trouble they're in deep 9:24 trouble 9:25 so we don't know what the trigger is yet 9:29 for trouble 9:32 there are so many it's ridiculous but we 9:34 don't know what it actually is and all 9:38 we know at this moment in time here is 9:40 that these profit targets have been hit 9:42 and the market has been unable unable to 9:46 make it through them now let's take us 9:48 to our most recent our current situation 9:52 we ran into these profit targets at the 9:56 beginning of march on Monday last week 9:58 we made a new high and at ten o'clock we 10:01 had a profit target that was hit that 10:03 was the all-time-high a profit target 10:06 that we were able to only thing that we 10:08 could do at ten o'clock with cell into 10:09 it this week was exactly the same the 10:12 only thing that we had to do at ten 10:13 o'clock on monday the only choice that 10:15 we literally had we stayed above those 10:17 at those levels for about 45 minutes was 10:20 to sell into the weekly profit target 10:21 now we are at the beginning of may we 10:26 talk about the seasonality of the 10:27 markets your long LED ledger day labor 10:30 day and then you take profit on memorial 10:33 day now it isn't always a cell in May as 10:37 a bearish situation but it's normally a 10:39 pull back but what I can tell you is 10:42 that the cells in may on the seventh 10:45 year in the cycle have been devastating 10:49 the beginning 10:49 devastating sell-offs to thousands once 10:53 devastating sell-off 2008 is devastating 10:55 sell-off 2015 we have to pay attention 11:00 to the pattern in beyond our disbelief 11:05 trade what we see 11:09 so over the last two months we've been 11:12 talking about this profit target in the 11:14 danger to the to longs inside of this 11:18 pattern and the next bullish setup is 11:20 below us at the 18 5375 below us here 11:25 now let's go to our smaller time frames 11:29 are daily charts and then 15 minutes 11:31 charts and review what has happened here 11:33 this week on the long side coming out 11:36 last week we had a very technical 11:37 measured with shorts coming out last 11:39 week we had measured my shorts coming 11:41 out of our wednesday timeframe we had 11:43 next measured moves coming out of 11:46 thursday profit targets were hit 11:48 extensions broken then there was the 11:50 late day the last 30 minutes of the day 11:52 we broke a short and then all of the 11:55 Bulls come out of the woodwork in 11:56 basically by the high tix without setups 11:59 and with the target getting hit first 12:02 there's nothing nowhere for them to go 12:04 but get taken out of their lungs so 12:08 coming into this week we have a new 12:11 breaking trend this was our little why 12:15 in the sand for the trading hours only 12:16 longs for monday and the very fruitful 12:19 50-percent retracement short it defended 12:21 after-hours we made new lows halfway 12:24 back short straight again that came out 12:27 of our 930 timeframe next measured move 12:30 came out of ten thirty which hits profit 12:32 targets you can make a case here for an 12:35 extradition set up inside of our series 12:37 to its profit targets you can see here 12:40 that you can make a couple different 12:41 cases for the afternoon but our profit 12:44 target is Arlo this series of course and 12:48 you can make a couple different cases 12:49 here for the next set up in the series 12:51 extension or other traditional or 12:53 trailing are all the way halfway back 12:55 short and there is of course the 12:56 possibility of coming into that for 12:59 retracement going into the rest of the 13:01 week 13:02 one thing to note here is that we did 13:04 break the long from last week's close to 13:06 highs so there would be nothing unusual 13:08 about trading all the way back up into 13:10 the 20 150 the 20 150 so what we have 13:16 the potential for guys and I and I don't 13:19 want to be an alarmist but with as much 13:23 fuel that is an inside of this market 13:25 and with the profit targets that had 13:27 been hit 13:28 if we come off of these highs and we 13:30 break this extension it is going to be a 13:33 bloodbath in the nearest support level 13:35 beyond that extension is the halfway 13:38 back long from r2000 lowest to highest 13:40 in that is all the way down at the 1390 13:44 the problem is is that in 2000-2008 when 13:51 we started bearish setups that the 13:54 buyers that were buying the lows on the 13:56 way down picking bottoms on the way down 13:58 they literally filled our pullbacks or 14:03 the continuation of our sell-offs and 14:05 there's no way to confirm support if we 14:08 break this extension who's to say that 14:10 this market can't come into its full 14:13 fifty percent retracement from 1932 14:15 lowest to highest it is a possibility 14:18 there'd be nothing unusual about that 14:20 what would happen in that type of 14:23 scenario 14:25 first of all it would shake out anyone 14:31 they didn't know what was going on but 14:34 1100 would be a fantastic level 22 by a 14:36 pullback in there would be nothing 14:39 unusual about that either 14:40 it would be exactly equivalent to the 14:42 2000-2009 pull back yet again so i just 14:47 want everyone to know going forward hear 14:48 what they're up against and the 14:51 possibilities moving forward for the 14:55 spring going into the summer into the 14:57 fall of 2015 and with 2016 being an 15:01 election year i would suspect that any 15:03 trouble that we might have 15:06 our technology in their product would 15:07 probably be over by the spring of 2016 15:11 if there was and by the spring of 2016 15:14 the reason i say that is because every 15:17 spring after the seven year cycle is 15:20 over has been a fantastic time to be in 15:24 a long 2001 crash night 9-11 completed 15:31 profit targets the spring of 2033 we 15:37 rallied 2008 the spring of 2009 we 15:42 rallied and of course 2001 it did last a 15:47 full you know 12 months later then we 15:49 didn't 2009 you know it here we are 15:52 problems again but we just need to plan 15:54 a couple steps ahead here and one thing 15:57 I also want to point that everything is 15:59 selling off here first 16:01 the bond market is showing weakness the 16:04 indices are a profit targets the dollar 16:07 is selling off we go take a look at that 16:09 here in a moment I'm going to prison 16:11 gonna finish this video but looking at 16:14 the dollar because the dollar is is 16:18 showing us on the weekly charts here a 16:21 gigantic 50-percent retracement short we 16:24 rallied on the markets the feds news 16:28 that they were going to raise rates in 16:31 the spring of 2015 then here we are in 16:34 the spring of 2015 and we have gdp that 16:38 is- without its corrections we have all 16:43 of our news as is a manipulated 16:48 employment rate and what the dollar 16:54 showing us here is dollar selloff into 16:57 so off bond sell-off all at the same 16:59 time everything going down all the same 17:02 time it's scary 17:04 so be aware if you were exposed to the 17:08 market in any way shape or form inside 17:10 of lungs 17:12 at this time you're going to fifty 17:16 percent cash in the spring is what 17:17 normal investors do so they can add back 17:20 to long positions in the on labor day of 17:23 of the of the fall of the next year and 17:27 being just trading and having a normal 17:30 profit taking time of the year is a 17:34 smart thing to do for the indices here 17:36 given where we are inside of our trend 17:38 we haven't had profit taking in the 17:40 spring 17:40 since 2011 so it's going to be an 17:44 interesting your guys and you're 17:46 literally witnessing history I'd 17:48 encourage you that if you are watching 17:50 this video to share it with someone that 17:54 you might think is interested or might 17:56 be interested inside of this or in these 17:58 price patterns and what the future could 18:01 hold moving forward thanks guys
The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more
Trump Has Spy in Vatican -- Leo Zagami
Zagami:Trump Has Spy in Vatican - Greg Anthonys Journal
Greg interviews Leo Zagami in Rome about how Pope Francis is on a path to a One World Religion. Leo says the devil is stronger than ever within the Vatican and the people of Italy and conservative Cardinals are spreading a media campaign opposed to Francis. Also, the Pope speaks at Super Bowl, showing America he is the ruler of the world.
The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more
2017 BANNED DOCUMENTARY: BILDERBERG: The Bilionaire Boys Club! WW3 PLANS
(2017) INSANE FILM New World Order Exposed: Bilderberg the Bilionaire Boys Club
Dostoevski wrote in 1880. "The Jew and his Bank are today the masters of all Europe — of Education, of Civilisation, of Socialism: of Socialism above all, by means of which the Jew is going to tear up Christianity by its roots and destroy its Civilisation. And when nothing but Anarchy remains the Jew will put himself at the head of all. For while propagating Socialism among all the Nations, the Jews will remain united among themselves; and when all the wealth of Europe is dissipated there will still remain standing the Jew's Bank."
The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more
Dostoevski wrote in 1880. "The Jew and his Bank are today the masters of all Europe — of Education, of Civilisation, of Socialism: of Socialism above all, by means of which the Jew is going to tear up Christianity by its roots and destroy its Civilisation. And when nothing but Anarchy remains the Jew will put himself at the head of all. For while propagating Socialism among all the Nations, the Jews will remain united among themselves; and when all the wealth of Europe is dissipated there will still remain standing the Jew's Bank."
The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more
Daniel Estulin: ISIS is an Instrument of Anglo-American Empire (and the Latest on Bilderberg)
We speak with Daniel Estulin about ISIS and how it is used as an instrument by the Anglo-American empire. We also discuss his latest thoughts on Syria, Bilderberg, the economy, the media and his new Bilderberg documentary.
The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more
TOP SECRET : RISE OF CHINA - GLOBAL SUPERPOWER (Full Documentary)
Fueled by decades of rapid economic growth and a desire to secure its security interests, China has embarked on a large-scale modernization of its military. President Xi Jinping (who also heads China’s Central Military Commission) has instituted extensive military reforms aimed at streamlining command structures and improving Chinese military strength. China now boasts its first aircraft carrier, a credible fleet of both diesel and nuclear missile submarines, one of the largest air forces in the world, and over fifty intercontinental ballistic missiles.
IS CHINA A MILITARY SUPERPOWER?
A military superpower is a country that can project military power around the world to defeat or dominate another country…by this criteria my argument would be that China is not yet a military superpower and may not be one for quite some time
China is fast becoming a scientific force to be reckoned with, says a new report published by Nature.
The list, which ranks the world's institutions and countries according to their scientific output, puts China second only to the United States. The rankings are based on the number of high profile publications released last year.
Why gene-editing revolution excites and worries scientists
Canada ranked 7th, which, considering the difference in the sheer number of scientists compared with China or the U.S., is pretty impressive.
The top institution in terms of publications was the Chinese Academy of Sciences, a massive engine of scientific growth in the country. It consists of hundreds of regional institutes and includes two universities. To put it in perspective for something us Westerners understand — it beat out Harvard.
What is China investing in?
The Chinese government has indicated it wants to invest energy and funds in brain research, gene science, big data and medical robots.
But perhaps the most ambitious scientific project is the Chinese space program. The largest radio telescope in the world was recently built in southwestern China, and took only five years to complete.
The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more
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