Posts Categorized: USAWatchdog.com

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By Greg Hunter’s USAWatchdog.com 

Financial writer and precious metals expert Bill Holter says big delivery demands are flashing a warning sign that something is very wrong in the gold market. Holter explains, “What’s happened so far this year, there have been roughly 5,900 tons of gold sent to London under ‘exchange for physical.’ The world only produces 2,700 tons a year. There is only one official hoard in the world that is more than that, and that is 8,300 tons in the U.S. Treasury. It has not been audited since 1956. What I am telling you is over 200% of annual production has been sent to London for delivery, and it is an impossibility to deliver. The metal doesn’t exist. Once it gets to London, it is totally shrouded. We see nothing in terms of proof or verification that delivery is being made. It’s being sent to London to die.”

So, is a default in the gold market coming soon? Holter says, “It’s already happened. It’s already happened. They can’t deliver. Just this month alone, in December, there are 41 tons (of gold) standing for delivery. I think they (COMEX) only have 37 tons to deliver on. You will not see the movement inside COMEX showing delivery. The 37 tons will not be eaten into to deliver. Are they paying a 25% premium to settle in cash? Who knows, it’s totally shrouded. You know by sheer size of the numbers that 5,900 tons, in less than one year, for delivery, that’s fraudulent. I hope COMEX or CME sues me because then we get into discovery. I am sure there are 10,000 lawyers that would do this on a pro-bono basis just to get to the truth.”

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By Greg Hunter’s USAWatchdog.com 

Financial writer Bill Holter says revelations this week from the DOJ Inspector General about the FBI spying on everything Trump, and the ongoing criminal investigation on the origins of the Trump Russia hoax, are going to be a disaster for the financial markets. Holter explains, “We are financially and socially inside the gates of Hell. If you see big name arrests, and obviously from the previous administration all the way up to the top, you are going to see an awful lot of happy people and an awful lot of freaked out people that could lead to civil war. From a financial standpoint, I don’t see how markets can stand up with the amount of leverage in the system. At this point, they are already having a problem holding that leverage up. Just from the standpoint of foreigners looking at the U.S., foreigners will probably pull their capital hard and fast.”

If you want to see real trouble brewing behind the scenes in the banking world, look no further than the repo market, where banks get funding and liquidity on a nightly basis. Some nights, $100 billion or more is doled out to keep the system from locking up. Unlike the financial meltdown in 2008, hedge funds now make up 20% of the repo funding market. Here at the end of the year, Holter says few institutions have ready cash on hand and have leverage many times over. Holter contends, “Assuming the numbers are real, hedge funds are prone to bank runs. Hedge funds are prone to large liquidations. The banks who have been funding the overnight repo market now seem to fear a run in the hedge fund market. . . . To me, it smells like a bank run in the making. If the credit does not get through to these hedge funds, this means they have to unwind positions. Their positions are leveraged seven, eight or ten times over. That means if they are forced to sell, they would have to sell $10 of assets to get $1 of cash.” Meaning the markets could crash.

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By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Economist John Williams says don’t put too much faith in the good employment numbers that came out last week because “It’s not as happy of a picture as it looks.” Williams is the founder of ShadowStats.com. His calculations strip out government accounting gimmicks to give a more accurate picture of economic data. Williams explains, “What the Fed has done with their easing, according to the Fed, is they created a circumstance of sustainable moderate economic growth. So, they don’t need to cut rates anymore. That’s nonsense. You don’t have sustainable moderate growth. For example, look at this last month, industrial production is in a state of collapse. . . . Manufacturing is negative. . . . Oil production is collapsing year to year as oil and gas exploration has plunged. . . . Retail sales have been overstated in employment . . . . That’s going to be revised lower. . . . We have been getting better numbers as of late, and the economy is still falling off a cliff.”

Maybe that explains the Fed’s panic moves with $60 billion a month QE, which it says is not QE, and extreme intervention in the repo market where the Fed routinely pumps out tens of billions of dollars in liquidly a night. Williams says, “The system is not stable, and it probably is insolvent. They blew the system back in 2007. They gave up on the domestic economy to save the banking system. . . . They spent all their resources propping up the banks, and they are still doing the same thing, and it’s still costing us in terms of economic growth.”

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By Greg Hunter’s USAWatchdog.com 

Journalist and book author Michael Snyder says corporate debt is at record highs standing at $10 trillion. Snyder points out debt is setting records in every aspect of the economy and contends, “If you include all other forms of corporate debt not listed on the stock exchanges, that brings the total to $15.5 trillion, which is equivalent to 74% of GDP. We’ve never seen anything like this before in all of U.S. history. That is just one form of debt and how our society has grown the debt. People need to realize the only reason why we have any prosperity in this country today is because it is fueled by debt. We have been building up this bubble, and it is the bubble to end all bubbles. Look at consumers. U.S. consumers are now $14 trillion in debt, which is an all-time record. State and local governments are at all-time debt record levels. The U.S. government . . . we just hit $23 trillion in debt, more than double since the last financial meltdown. . . . We are stealing from future generations more than $100 million every single hour of every single day. This is a crime beyond comprehension, and it’s been going on more than a decade. . . .All the debt has bought for us is more time to expand the bubble for relative stability. Meanwhile, we are literally committing national suicide and literally destroying the future of this country and the future of this republic. We are destroying everything the founders built by insatiable greed in this generation.”

Snyder says you don’t have to wait for the next recession because it’s already started. Snyder says, “Eventually, this whole thing is going to come crashing down. This thing is not sustainable. Here in the United States, we are already in a manufacturing recession. We are already in a transportation recession. We’re already in a corporate earnings recession. We are already in trouble that I document regularly on my website. We are already seeing dozens of data points that an economic slowdown is already happening. This is what we will notice first. We will go into a recession, and things are going to start getting bad, but beyond that . . . we are headed for the Greatest Depression. It’s the perfect storm. . . . We are talking about the breakdown of trade with China. . . . We have witnessed the complete and total breakdown of relations between the United States and China. . . . They (China) view us (America) as their primary global enemy. So, there is not going to be any kind of comprehensive trade agreement. You can forget that, and that has been one of the only things holding this stock market up.”

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By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Financial writer and professional trader Rick Ackerman says don’t expect a replay of the 2008-2009 financial crisis where the Federal Reserve bailed out almost everything in sight. Ackerman explains, “It ended up Lehman Brothers went under, and they needed a couple of sacrificial lambs, along with Bear Stearns. It could have just as easily been, and it might be the next time, Goldman Sachs. So, in that way, the Fed is kind of out of bailout bullets. We’ve already been through a bailout where it took a big hunk of the financial system. Each one takes more bailing out to get to that critical threshold of credibility where the bailout itself works.”

Ackerman sees bailout needs everywhere and gives the example of underwater state pensions across the country. Ackerman points out, “If you take just one piece of what they are going to have to bail out, which is going to start with the State of Illinois, which is probably going to be the first state that is going to collapse. It will renege on its pension obligations. So, if you picture the federal government riding to the rescue, the minute they bail out the Illinois pension system, California is there, along with New Jersey, Kentucky and a lot of other states, maybe 19 or 20 of them that have pension systems almost as insolvent as Illinois. . . . This means they are going to have to mail out checks to Illinois and then expand it to California, and all the other states that go under is to court hyperinflation. Of course, hyperinflation, in that sense, you can see where it has to collapse into deflation because . . . printing so much money that it is not going to buy the pensioner anything close to what it would have bought before the bailout. . . . So, a bailout is really self-defeating. . . . We can never inflate our way out of this abyss. . . .So, there is no bailout coming. . . . The debts will always be paid by either the borrower or the lender.”

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By Greg Hunter’s USAWatchdog.com

Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts thinks Vladimir Putin saying “the dollar is going to collapse soon” is a flashing warning for the U.S. dollar’s value in the not-so-distant future. Fitts explains, “What Putin is saying is the dollar is going into a steep decline, and what was interesting about his comment is he said ‘soon.’ . . . What is the ability of the U.S. military versus the Russian or Chinese military to defend the dollar’s position? That is intelligence that Putin has, and because Putin has this intelligence, people really stood up and I really stood up and took notice. If Putin has access to that intelligence, and I don’t, which is saying the dollar could go into a deep decline, we need to take a serious look at it. The dollar is clearly under pressure, and if you look at reserves, the central banks are buying gold and selling dollars, including the Russians and Chinese.”

Fitts also points out, “The dollar is holding, and yet, if you look at the price of household goods in America, where I live, it’s approximately 8% to 10% a year in prices of household goods (going up), and you can tell the money printing has been significant. If you look at what the Fed is doing in the repo market, we are really on the next QE. So, we’ve got a problem with currency debasement, and what Putin is saying is it’s going to go faster, a lot faster in 2020, and that is an issue I am looking at. . . . One of the scenarios I am looking at is the dollar declines significantly in 2020. . . . When you have real household inflation at 10% every year for the past five years, the dollar has really already taken a hit as are many fiat currencies around the world. . . . What has really supported the dollar is its huge market share both in trade and traditionally in reserves. . . . You need to withstand a scenario where in 2020, instead of getting 10% inflation, you need to withstand 20% or 25% inflation in real household goods. . . . I have been saying for many, many years the dollar is strong. This is the first time I started to see the potential for a crack in the armor. I think we have to be prepared for the potential for a more serious decline than we’ve been dealing with for the last five years.”

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By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

About two years ago, Michigan State Economics Professor Mark Skidmore revealed there was $21 trillion in what he calls “missing money” from the Department of Defense (DOD) and Housing and Urban Development (HUD). This was a stunning revelation and the biggest auditing discovery in the history of accounting. Dr. Skidmore, who is an expert in public finance, along with a team of academics, used publicly available government accounting reports and revealed their results in late 2017.   In the accounting world, this is like discovering the “God Particle” or discovering a cure for cancer, and, yet, academia is largely silent and ignoring this discovery by Dr. Skidmore and his team. Dr. Skidmore explains, “It’s been pretty quiet. A few people have contacted me. . . . I have asked for professional opinion and have offered to pay for it, and I had one conversation and he never responded again. . . . Similarly, I have done that with other academics to work on this issue. . . . For example, I had a dean of a major business school in the country who I know, and he has a background in both accounting and economics, and his response was ‘yes, there is something really wrong.’ Then nothing, no response to any other inquiries. . . . I haven’t been shunned–just ignored. . . . Other people just sort of weigh out the costs and benefits of the whole thing. They ask themselves what are the benefits of me chiming in on this issue, and what are the costs? They look at it and say I don’t want to be involved. Some people realize there is much more at stake here, and they just don’t want to be involved. That’s what I think is going on.”

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By Greg Hunter’s USAWatchdog.com 

Former CIA Officer and whistleblower Kevin Shipp says from the Russia collusion delusion to the sham impeachment, it’s all really just one big Deep State coup. At the center of the coup is billionaire George Soros, who hates American sovereignty and “America First” President Donald Trump. Shipp explains, “Soros has been funding attempts to overturn a U.S. election and remove a President of the United States. If he’s been funding that or advocating that in any other form, that is sedition. If it is connected to a foreign government or a foreign power, that would rise to the level of treason. This coup leads back to George Soros and his multi-tentacles connections. Now we know Victoria Nuland and the State Department were advocating Soros NGO’s at the time along with this so-called whistleblower who has been in contact with these Soros organizations as well. We are seeing the picture come out now. They don’t want this whistleblower to testify because if he does under oath and he is pressed, this whole disgusting beast could come out into full view. They don’t want that to happen because it is a continuation of the Russia collusion coup. Now, it’s gone into this false impeachment coup, and they are trying their level best to keep these facts from the public. This is one big coup.”

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