Central banks — and central bankers — are in uncharted waters. They don't know how to create economic growth, they don't know how to fight the great bogeyman of deflation, and they don't know how — or if — they'll ever be able to return to a time of "normal" monetary policy. Their pretense of knowledge, of being able to effectively control currencies used by billions of people, is coming to an end.
But it's not just an academic issue — all of us are affected by the possibility of negative interest rates, prohibitions on cash, and bank bail-ins. Will you be able to get cash out of your bank or money market account if the economy suffers another crash like 2008? Will governments force us into cashless, digital-only payment systems, tracking our every purchase and creating black markets in the process? Will you have to pay your bank, in the form of negative interest rates, for the privilege of holding your money? And will your deposits take a haircut if your bank suffers losses from its bad loans?
Jeff joins Jay Taylor on his radio show to discuss how both central banks and commercial banks are poised to change your life in some very unpleasant ways.
"The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists."
Renowned retail billionaire Hugo Salinas Price says, “We are now in the contraction phase. When I call a debt on somebody, that party is going to call in the debts to him... and there is a cycle going on where everybody is going to try to collect from everybody else. So, it reinforces itself. When we come to the end of this contraction phase, we’re going to find a world where there is no other recourse but to revalue gold so that it makes debts payable. It makes money much smaller and less weight. Then we will have a lot of gold money that has gone up in value. Some people say (gold will be repriced to) $8,000 per ounce. Some people say it will be $10,000 per ounce, and others are going as far as $50,000 per ounce. I don’t know what the value of gold will be, but it will have the effect of diminishing the weight of debt on the world. I don’t know when this will take place, but I think that is coming, and it has to come. That will be the outcome of this century of inflation we have had. I think we are approaching a revaluation of gold.”
Bill Holter from JS Mineset joins us to cover the unfolding global economic collapse. "This is it. We're watching the meltdown. This is history being made." Bill says.
Holter explains, "The Fed has lied themselves into a corner. They raised rates and here we are a month later, the system is imploding and they have no bullets left. They are going to have to do QE4, they are going to have to do negative interest rates."
"I believe this is it. The margin call, the meltdown, we're watching it in real time... I guess the best way to look at where we are right now is, we're standing at the gates of Hell."
On physical gold and silver supplies, precious metals expert Rob Kirby says, “Gold and silver are not as loved here as in the Asian countries. It’s relatively more plentiful here, but that can all change in a very short period of time. At some point, the available stocks in the West will disappear, and when they start to disappear, it will seem like a bolt of lightning coming out of the clear blue sky because they will be gone in no time.”
What is Kirby’s prediction for the price of gold and silver by the end of 2016? Kirby boldly says, “I think it could be many multiples of the price right now.” What do Kirby’s billionaire contact say? Kirby reports, “They say they think we are very close to the end. I don’t want to see the end because it’s not going to be a happy day, not for me, not for you—not anyone. It’s going to change the way we live--dramatically. . . . The rate of these seizures in the equity markets are likely to quicken and intensify. Future rate hikes are off the table.”
Alasdair Macleod talks about his predictions for the markets and the gold price in 2016 and says that gold is very underpriced and probably close to a bottom.
In this special New Year's Eve episode of the Keiser Report, Max Keiser and Stacy Herbert talk to trends forecaster Gerald Celente of TrendsResearch.com about the upcoming trends for 2016. They recall that a few years ago, Celente forecasted on the Keiser Report that we would see currency war, trade war and hot war, and they ask whether or not this has come true in 2015. They discuss ‘bankism’, oil prices and US election insanity and what they hold for the future of the global economy.
