On With Greg Hunter of USA Watchdog

10
Wed, Jun 20, 2018 - 9:51am

It's always great fun to be on with Greg Hunter. In this segment recorded yesterday, we discuss global debt, the corner into which The Fed has painted itself and the rationale of doing "what the Russians and Chinese are doing".

The full report can be found at Greg's site. Here's a link: https://usawatchdog.com/global-debt-a-parabolic-ponzi-scheme-craig-hemke/ Please be sure to support Greg's efforts by making his channel a regular part of your internet research. He consistently has great guests who provide insightful commentary.

TF

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  10 Comments

lnardozi
Jun 20, 2018 - 9:54am

First?

Yes, I certainly was first. First for what, though?

Thomas More
Jun 20, 2018 - 10:10am

Another day

Very good Craig!

I am not a good "talker" - you managed to get things out quite clearly.

parrotman1947
Jun 20, 2018 - 10:28am

Kudos Craig

I thought you ran the table with your interview with Greg.It made me proud to be a Turdite.

Thomas More
Jun 20, 2018 - 10:33am

Powell +2

Stocks slipping while the Big Boys are talking in Sintra (Portugal) - what's goin on?

Compwiz4u
Jun 20, 2018 - 4:16pm

Another Great Impersonation

I can't decide if I like your Jimmy Stewart or Mother Yellen Impersonation better.

Nevertheless you really cracked me up with this one of George Bailey.

lakedweller2
Jun 20, 2018 - 4:33pm

My Vote

The Jimmy Stewart is great.

AGXIIK
Jun 20, 2018 - 9:49pm

BRIEF BIT OF INFO ON PENSION BENEFIT GUARANTY CORP

The PBGC insures roughly $550 billion in pensions but cannot take care of the pensions that are failing today. It's estimated that this entity will be bankrupt and unable to guaranty saving pensions by 2025, 7 years from now This failure tme line just happens to be about the same time period for Medicare.

With $5 trillion in pensions that are in trouble including well over $500 billion in CA, PBGC is tango uniform.

Public pensions will either fail, resort to massive taxable/asset forfeiture or some other means to assure their beneficiaries will be paid. $5 trillion.

AGXIIK
Jun 20, 2018 - 9:49pm

BRIEF BIT OF INFO ON PENSION BENEFIT GUARANTY CORP

The PBGC insures roughly $550 billion in pensions but cannot take care of the pensions that are failing today. It's estimated that this entity will be bankrupt and unable to guaranty saving pensions by 2025, 7 years from now This failure tme line just happens to be about the same time period for Medicare.

With $5 trillion in pensions that are in trouble including well over $500 billion in CA, PBGC is tango uniform.

Public pensions will either fail, resort to massive taxable/asset forfeiture or some other means to assure their beneficiaries will be paid. $5 trillion.

Mickey
Jun 21, 2018 - 1:25am

Agixx

Good evening:

how different is the PBGC from say FDIC. FDIC covers ~13 trillion of accounts yet on average has 30 billion sitting around.

SIPC is kind of the same except brokers buy excess coverage thru say Lloyds. If we have huge stress in the system, Lloyds has laid off a good portion of what it insured. But liquidity is short in the system. Banks and insurers. And a lot of big companies which have converted equity into debt.

It was 2 years ago Congress in December allowed the big banks to out derivatives into their FDIC covered legal entities. 9 years ago they said we cannot allow banks to put their derivative books in FDIC banks.

The real crapola will meet the spinning fan when we have a big selloff in the stock and bond markets. As is the system is liquidity challenged.

Does everybody understand that we as account holders are merely general subordinated creditors of the banks where we have checking accounts. Same for businesses. I do not know an easy place t hide company cash but I would be looking for places outside the actual banking system. If inflation rears up, and interest rates stay low, the best place, usually to put money will be in inventory-anything but cash in a bank

People do not understand -yet-that cash can be burned pretty easily in the next crisis.

AGXIIK
Jun 21, 2018 - 10:03am

Mickey I figger the ratio of cash coverage to liabilities

is probably 1 to 100 or worse. That slippery slick little game of moving the derivatives off the bank balance sheet and yet leaving the worst of the balance sheet garbage exposed was countered by the G20 meeting a few years back when all customer accounts, all deposits were deemed unsecured creditor accounts, last in line to get paid. Our bank accounts are completely subject to the whims of the creditors and government. Couple that with the edit signed by the US, UK and Canadian central banks that allows MMAs to break the buck was clear representation that nothing held in the large banks was safe. MMAs could slow down and limit how much we could withdraw at any one time. This has been tested many times in banks in other countries.

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