Futurist and economic researcher Chris Martenson says we are not at the end of a business cycle but “. . . at the end of a credit cycle.” Martenson warns, “Here’s why people need to be concerned. Credit cycles, when they blow up, are really, really destructive. 2008 to 2009 was very destructive. Instead of realizing the error of their ways, they went for a third. This is the most comprehensive credit cycle that we have seen. Remember, bubbles have two things that they need. Number one, a good story that people can believe in and, of course, it’s a false story. Number two, ample credit. That’s what the Fed and central banks of Japan and Europe have done. They just flooded the world with credit. Now, we have bubbles everywhere. When these burst, it will be the worst bursting in anybody’s lifetime because we have never seen anything like this.”
Martenson says a debt reset is locked in, and somebody is going to pay. Martenson explains, “When you have as much debt that the United States has . . . the overall debt level in the United States, including auto loans, mortgages, consumer debt, student loans and corporate debt and whatever, we’re sitting at about $60 trillion right now. It’s a huge number, and when you get to this level of indebtedness, plus those unfunded or underfunded liabilities . . . when you get to this level of indebtedness, there is really only one question left to be resolved, and that is who is going to eat the losses. That’s it. So, when you start asking that question, the banks and people writing the laws are pretty sure they are not going to take the losses. The person relying on the pension is the person that is going to eat the losses. . . . There is no way to make this work. Here’s where the social tension comes in. Even as ordinary middle class people are being destroyed in this process, the rich are taking more and more out of the system. That is courtesy of the policies of the Federal Reserve. . . . But the big risk is when these printing sprees, these credit cycles finally burst. They are wildly destructive. They are fast. They are hard. They are sharp and they hurt.”
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Financial and precious metals expert Egon von Greyerz (EvG) vaults gold for clients at two secret locations on two continents. He says his wealthy clients have at least 20% of their net worth in physical gold and silver. Some have much more. Why so much physical metal? EvG says it is because of record risk in the world today. EvG explains, “There is only ½% of all world financial assets held in physical gold. So, this is a very small group, but it is still a lot of money. Of course, the majority doesn’t believe this because if they did, all the other markets would collapse. The particular people that are concerned about risk that we deal with, and they are not concerned in a minor way . . . look at all the asset classes, whether you take the stock markets, bond markets or property markets, they are all in the most massive bubbles fueled by exponential growth in credit. Global credit has tripled since 1999 to today. Global debt went from $80 trillion to $240 trillion. When debt triples, it doesn’t mean that risk triples. Risk goes up exponentially. Then you add to that all the off-balance sheet items and unfunded liabilities. The derivatives are at least $1.5 quadrillion. . . . Officially, it is reported $600 billion, but it is probably $1.5 quadrillion. . . . So, you are talking about risk that no one understands, and no one can measure. Most of it is in paper or air, if you will. It’s like a balloon, and when you pop that balloon, you will find it is mostly air. This means asset values will implode, and so will debt.”
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Former CIA Officer and whistleblower Kevin Shipp says what Hillary Clinton did with her charity and Uranium One while she was Secretary of State was a crime for the history books. Shipp explains, “Hillary Clinton used this to launder money in foreign banks so it wasn’t subject to U.S. laws, congressional subpoenas or FOIA demands for the evidence. This was done to launder this money globally into the Clinton Foundation so the U.S. government could not examine it at all.”
Special Prosecutor Robert Mueller was the head of the FBI while the Uranium One deal was being done by Clinton and the Russians. One fifth of U.S. uranium production was bought by the Russians in a deal Clinton pushed and approved. The Clinton Foundation received more than $140 million from some of the same Russian players who were involved with Uranium One. Why didn’t Mueller stop the deal? Shipp says, “Mueller is either a complete moron, which he is not, or he overlooked the biggest counterterrorism cases in U.S. history. It involved Hillary Clinton, the Clinton Foundation, Uranium One and, of course, the destruction of all the emails and evidence and her secret server, and on and on and on it goes, and he (Mueller) ignored it all.”
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Macroeconomic analyst Rob Kirby says there is a lot you are not seeing with all the bad news coming from Deutsche Bank (DB). You’ve seen DB stock hit all-time lows, the Fed downgrading them and flunking the bank on a recent stress test. Rob Kirby says it’s much worse than you think and explains, “Basically, it is the German regulator telling DB you are going to get out of this pool, then the Americans realizing how hostile the Germans have become to the criminal activity of the U.S. monetary complex. They basically said you are getting out of our pool? Well, we’re going to waterboard you first, and we’re going to bring public shame upon you.”
Is Kirby worried about DB going under? Kirby says, “I think Deutsche Bank could go under. It might very well deserve to go under, but will they be permitted to go under? In my view, there is no doubt what-so-ever that Morgan Stanley was insolvent in the 2008 and 2009 time frame. Their stock was at $5, and it looked like it was going to $0. They pulled out the stops and papered over the shortcomings at Morgan Stanley.” Kirby thinks European central bankers will do the same for DB.
Financial writer and precious metals expert Bill Holter thinks the long awaited debt reset has already started. Holter explains, “I think the reset is already in motion. . . . Credit is what created values and pricings that are incorrect. Just look at the Fed, they are talking about quantitative tightening (QT). They are talking about pulling $600 billion, I think, by the end of this year, and they can’t. There is no way. If you go back to Richard Russell ‘inflate or die.’ That is what this is. You cannot take capital out of a Ponzi scheme and expect it to stand up. That’s what this is. It’s a Ponzi scheme, and the Federal Reserve is bluffing, saying they are going to pull quantitative easing (money printing) out, and they are going to reverse it and take that out of the system. There is no way that can be done.”So, the Fed must know this. So, are they just playing for time? Holter contends, “They are timing it and . . . I do believe there will be some type of event that fingers can be pointed at and say, look, if it wasn’t for this, maybe a war or who knows what the false flag event or real event it will be, they are going to point at something and say our policies were working, and everything would have been fine except for x, y and z or whatever they point their fingers at. . . . The staggering figure today is the production rate is still 6% lower than when we went into this recession in 2007 and 2008. So, production is still below those levels, and that means we’ve gone 10 years with zero expansion . . . but debt has doubled. Production is not where it was 10 years ago, and debt has doubled.”
June 3, 2018 By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Money manager Peter Schiff says even though Deutsche Bank is the most systemically dangerous bank in the world (according to the IMF), that is just the tip of severe global financial problems. Schiff explains, “I think it’s a problem, and it’s not just Deutsche Bank. Deutsche Bank could be the weak link of a chain. If you remember back to when we had the financial crisis (2008). First, you had the sub-prime mortgages blowing up, and everybody was like don’t worry about it. It’s contained. I said it’s not contained, it’s just showing up first in the sub-prime market because these are the weakest mortgages. The entire mortgage market has a problem. I think the banking system has a huge problem because it’s lived off of the life support of artificially low interest rates. As that is removed, it’s like pulling the plug off of someone who has lived off life support. The irony is you have so many analysts that think higher rates are good for the banks. . . . Low interest rates saved the banks. You can’t have it both ways. It can’t be low interest rates helped the banks, and high interest rates will help the banks. It’s one or the other. I think higher interest rates are going to crush the banks. I think it’s going to destroy the value of their loans and their collateral. It’s going to lead to defaults . . . All those banks that we’re too big to fail in 2008 are much bigger now, and it’s going to be a lot more difficult to bail them out.”
Renowned geopolitical and financial cycle expert Charles Nenner says, “The mainstream media talking heads are telling you to buy, but never tell you to sell.” Nenner says the time to sell stocks is getting close and explains, “It’s just a hopeless situation. I feel sorry for people who invest their money. We have had a nice ride, but soon the whole thing will come tumbling down. They listen to all these things and have no clue on how to invest . . . . I think soon . . . this will become the longest expansion in financial history. . . . So, this could be the longest expansion ever, what are you playing with? You are gambling with nonsense. So, it’s over.
Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts warns that the “financial rape of America” is nothing more than “re-engineering” the debt based economy. This “rape” is happening from earth to space, and it connects to $21 trillion in “missing money” that has disappeared from the federal budget since the late 1990’s. Fitts explains, “I started to look at where all this missing money from the federal government is going, and it led me into space. There are lots of questions. In the last few years, the commitment by the American government, the European government and the Asian governments have become much more overt. There is also the commitment from the private sector. . . .It’s becoming much more feasible to do manufacturing, mining and other things in space. . . . You see a lot of the corporate world lining up to do this. . . . I think that is very exciting. At the same time, if you look at the sub-orbital platform and the orbital platform around earth is being used for control . . . and a lot of it comes down to control, control of what is going on in the planet.”
The “rape of America” is happening with the pension funds, according to Fitts. Fitts is worried about the value of the U.S. dollar. Fitts says, “I have never been worried about the U.S. dollar, and we have argued a lot about this, but I am now starting to get very concerned. . . . The biggest buyers of U.S. Treasuries are U.S. pensions. Basically, the U.S. pensions are buying trillions of dollars of U.S. Treasuries, and the money goes into the government, and then the money goes out the back door. In the meantime, the taxpayers, including those pension beneficiaries, are on the hook for those Treasuries. So, you are giving away real money, and all you are getting is a liability. . . .So, the federal government literally becomes a laundry mechanism. . . . Now, I am seeing multiple efforts, disinformation efforts, fear porn and hope porn all pushing that it would be a good idea to dissolve the U.S. government and auction off the assets, which is the “rape of Russia” plan right here in America. Privatization is when I transfer an asset out of government at market price. Pirate-tization is when I transfer it out at 10 cents on the dollar. A lot of the plans I am hearing are proposing just that. . . . Are they going to do a radical re-engineering in a way that is bad for the taxpayers? I am seeing lots of ideas floated about partial defaults and dissolving the U.S. government and paying the debt back by auctioning all the assets. It’s pretty scary. . . . In Russia, you had significant depopulation happen because of this.”