Crisis Alert - April 23rd days of reckoning for Greece

[123sonner]

I appreciate your comments jberni. I cannot understand why the govt do nothing to decrease their credit debt liability. Credit will kill us of course. Investing? Who knows.

[redline601]

Greece got downgraded today

£40 billion got wiped off the London stock exchange in one day as a result!

[Mr2wings]

Deflation is happening in the USA.

[baconified]

Omg no tie :)

Great post as always

[stevo728822]

Are you advocating deflation or inflation? Or is it deflation followed by inflation?

[kalm77]

No currency reform! I think Germany BENEFITS

(exports) from weaker Euro due to Greece et al. So they will publically talk lots but are privately delighted (rightfully so)!

the imposition of capital control in EC will help shore up weaker economies.

In US also, the right is moving further right, and left moving further left. Obama has proven he is a shrewd sellout president. His chief of staff (rahm emanul) called the people of left who elected him: "retards"! So interesting times ahead.

[Mycochef]

@407buddy Hey! Are you serious? Look at what's happening to to the Canadian TSX. Also shares such as Ford, TD Bank, Cat, SBUX to name a few. The S&P is staying well above the 50 day and the 200 day moving averages. Get over it the recession is over!!! MY own econometric model extrapolates a rise in the DOW to around 15,000 by year end. It's a "WOK" shaped recovery. By the way "short" the EURO, it's about to go below the USD soon.

[grossleinbach]

I really HOPE you are right Mycochef. Unfortunately my contacts in high-yield fonds are telling me that I should prepare for a huge correction. Anyway I wish you good luck for the turbulences!

[Mycochef]

Do you mean "bonds" or "funds" ? If it's "bonds" you have to be careful!After the Nov. elections interest rates will move upwards causing a burst in the bond "bubble". That's because the economy will have improved. Inflation will be a concern as economic activity and productivity rises and Banks start releasing funds towards productive resources.Hence, DOW/S&P/TSX will head briefly DOWN and then move towards former highs once the jobless rate declines and we get used to normal money rates.

[grossleinbach]

Both Mycochef! If you look at the P/D ratio of stocks they are waaaaaaaaaay overvalued. I do not advise any friend hold stocks or bonds now.

Jobless rate is declining?? Where :-) ? May I see your sources? Of course you have to take the census in the US into consideration which will end in June and after that the jobless rate will rise again strongly. Meanwhile the jobless rate is raising in Europe.

[grossleinbach]

I am expecting too higher interest rates BUT sooner than in November. Just look at the 2 and 10 years T-bonds they are getting higher and higher.

[Mycochef]

Good point!

[mkmason2002]

And you enjoy your coffee too cutie.

[cankorgbr]

go vote for Peter Shiff's performance in his debate this evening at courant (dot) com!!

[Mycochef]

DR.JBerni is WRONG! It's not going to be a "toilet shape" recovery. But, a "WOK" shaped recovery. What started this mess is the mortgage crises. This issue has been mostly absorbed and no longer sustains a significant economic force. The stimulus is working. Corporations have become more efficient, banks more frugal, consumers more sensible and the dead wood eradicated. Watch the Dow go to 15,000 or more by the summer's end. The Euro zone is going to falter but that's good for us.Let them fall!

[jberni1]

@Mycochef

This is an interesting discussion!

Would you mind having a skype conference on that subject?

My take is that you misread the data. We are in a depression and it will get much worse.

[grossleinbach]

I think that is time of waste Berni. The Austrian School clearly says that the stimulus just cannot work - it is impossible. The liquidiation of capital (human + machines) is far not ended

[Mycochef]

@grossleinbach It is working. Today's rise in the TSX and Dow is proof that the recession is over and we have a "WOK" shape recovery. The stimulus is working in accordance to classic Galbraith economic theory. NO DOUBLE DIP HERE!

[Shakin2012]

lol, toilet shape discovery, what a clever way to describe it!

[Shakin2012]

@Shakin2012 where did i get discovery out of? i mean recovery? lmao

[abbsgmz]

if anything has peaked thats the employment. we are going to see the consequences such as bankruptcies,bank failures, riots, anything..

[PrepNow]

Dr. B,

Please let us know what country you are/have moved to.

What do you think of living in Sweden, Finland or Norway?

Iceland has had a collapse but people seem to be getting by and they are

civilized there. Of course, it helps that

they are a small country.

I would love to hear your view on this.

[powergirl901]

We ought to put all the politicians in the world into Iceland. They can do the lest damage to the rest of us from there.

Who wants those people around when the people rewrite their Constitutions?

[peckiledorf]

missed ya honey

[msamour]

Did I hear correctly you have left the Eoruzone? From what I understand right now many Germans are leaving to Brazil. If Things get bad here i may think about doing that, but so far Canada is doing ok.

[metaltect]

Great to see you back. I'm really looking forward to your next video on the profitable money play options during this crisis.

[Pablo905]

Thanks for the update and glad to see your posting again.

[whiskerchild]

I know there's rumors all the time. But the newest is that the US is going BACK on the gold standard (??) Do we have that much gold? So that's good for the country, but isn't that going to squash us little guys?

Glad to see you back.

[broeman]

It is true, that if the gold standard is reintroduced, they need to deflate a lot. All this fractional paper money will be burned, and prices will fall drastically. If you are a home owner, you would be placed in a lot of debt (since you cannot sell your house to the price you bought it), but others can buy cheap houses. I don't think they will do it, since the government is afraid of voters going through this pain, so they continuously push the problems into the future.

[IronicallyVague]

Returning to the Gold standard?

Isn't that going to be difficult if Fort Knox is empty?

[PrepNow]

Dr. B,

You said before that you thought the dollar would collapse before the Euro but all the news everywhere seems to be on Greece and Europe.

Do you believe it will be worse living in Europe than USA?

There is a new movie/documentary on the economy in the US to be released in March. The title is: Generation Zero.

[anujbahl]

arghh, you're doing the commercials now?

[comedytracker]

Germany should get out of the Euro and back into the Deutsche Mark ASAP

[TheCyberCore]

Germany (at least its government) is one of the leaders in pushing the EURO zone. EURO is nothing without germany, because the allied wanted it to be the financial backbone of this administrative monster without any real voting rights. If the EU is the early blueprint for a new world order, then we and our childrens' future will all be lost.

[LastReplaySC]

that is so German main stream media TALK....

just snap out of that way of thinking and think in terms of what all your German nabours will do to you the moment they run out of food...money.

your gonna be one of the guys begging for more govt controll and facist police state laws as soon as you have to take care of your own life.....

[TheCyberCore]

Yes because there are too many neighbours like you out there. Your government is corrupt andsome guys are taking away all the health from the western world. Of course this is a reason to beat or kill your neighbour... the people are so dumb, I can't describe it

[LastReplaySC]

that is again so typical german answere ..... brainwashed to the very end.....

der endsieg will come and V2 will save your ass ...talk

it time to wake up to some realities even spoilt germans are not imune to what is to come within the next 20 years.....

[bubyayur]

It's good to see you back. Keep on!

[Martian74]

Getting out of the Eurozone and going to where? You don't have to give an address or even the exact country but which area are you moving to? Asia, North America, South America, Africa, UK or some other place. Antarctica is probably out of the question.

[broeman]

I am in a semi-Eurozone (Denmark, fixed currency to the Euro, but not a part of it), I would want to know this as well. What is the free zones (low inflation) of the world? Switzerland, Hong Kong ..?

[TheCyberCore]

Maybe you could make your deal in iceland. Iceland had its breakdown and must now move on into the future. There is some hope that iceland may use its new freedom to make its future significant better. And what is more Iceland is just an island in the atlantic. Noone cares about it if all other "big players" are playing WW III.

[sealhunter5]

What is up with the commercial? you tube?

Great video

[snslion]

Great post. Hope your doing well my friend.

[MrColt45acp]

Thanks for all your posts!

[partyhouse88]

You moved out of Europe???

[anolmec]

missed your updates.....good luch with the move.

[Jo1Nobody]

Very good to have you back doing videos. Good Luck with your move.

As they say in the airplanes, " In case of an emergency, place mask over your own face first, then help others."

[chromedreamz]

move to Costa Rica.....beautiful place for ex pats...stable Govt and much more

[PrepNow]

Finally, thank you!!!

I know this is personal and you obviously don't have to answer it but you say you will move out of the EuroZone. Do you mean you won't be living in any country that is a member of the EU or you will leave Europe all together.

What country will you be moving to?

Don't worry, I won't stalk you.

[IronicallyVague]

Well I picked a heck of a time to go sane.

Ironically I should be coming into quite a nice small sum of money for the first time in my life in only a few months to a year...

So if everyone wouldn't mind postponing all this for awhile longer I'd be much obliged

Thanks..

[rossadew]

Heh, I think we somehow have a similar situation...

on the other hand was/am getting sick of all the BS that was/is going on.

[weilandjason]

Danke Shane.

[Hroark7]

Toilet shaped recovery jobless recovery alien invasion recovery happy huxlian slave shaped recovery Riot weight loss recovery Jenny Craige recovery Obaaaama Barry Soereto hope Recovery Mayan omm yourself into a dimension Recovery A Jesus "cross shaped" recovery A Green planet "live small" & love it recovery A Govt sanctioned "banning " the word "recovery",recovery.

[goobie04]

This is biblical. one world order. the rapture is immanent. accept jesus christ as ur savior today while there is still tiime. God Bless u peeps.

[silverfuturist]

@goobie04 Perhaps the rapture is when the people who understand the warnings get off the grid.

[JimGraham1973]

great to see you back. Good luck on the move

[scutter4christ]

Thank you sir.

[hefeltbad]

s.h.t.fan soon.

[authmaax]

you said it right, money has to be destroyed

it carry's a (troy) a Trojan inside it.

[joel1923]

So, it's so bad you're actually leaving Europe?!!

[Thunderwavia]

wow, where you heading, do you know of the Havens? The jewish communities in Europe have been urging their communties to leave asap.  Good Luck!

[markymarkuss777]

@Thunderwavia Tell me more of what you've heard.

[Tressco]

Where are you heading for...?

[McDohnuts]

Glad to know your back, how is the weather overthere?

Interesting post.

[BITARTEN2]

Remember Spain.

Here in Spain the government is

collecting 105 and

spending 205.

Of course this is the end of Spanish economy so better go to Brazil if you can.

The Euro has been a dissaster but Spanish people (except a very few ones) are to cretin to see that.

Maybe in other countries people are similar but I don't think so as in Holland, France, UK... many people are against the UE.

[lizadfuel]

Yes indeed the Spanish ppl have the wool over their eyes & can't see the fact that endless social programs & overspending is hurting their country. But I think that the ppl of Spain are better prepared for an economic collapse than the USA. Spain was in a depression from Franco till the late 90's - early 2000's. They are used to living with less and many have home gardens. These are my perceptions for what I have observed in Andalucia (Cadiz - Pto Sta Maria) Peace : )

[jberni1]

Thank you for speaking it out...

Have you seen my interviews in Spanish TV ?

[jadnsofia]

No, where have you been interviewed ? Are the interviews online ? can you post a link ? Thanks!

[BITARTEN2]

I haven't seen your interviews in Spanish TV?. Where can get it?.

[Jasper50]

Great vid. thnx for sharing.

[DavidAKZ]

Australia ? 18 months ahead of the crash

[BendoverBernanke]

Dead on. They will do everything possible to not awaken the people while at the same time reset the system and rob the value of all currencies. Their plan b of riots and chaos can be mixed in with this plan to cause a schism between the people. Good people will be bad and bad people will be good.

[dezibeldani]

Wel...'come'-'back' ;-)

I knew you are going to move. I saw some changes of your bookshelf in the video of Feb., the 10. I guess you moved to Brasilia. It's a BRIC-member and outside the Euro-Zone. The language is similar to spanish and you were in Spain before.

[Hendo1974]

It is not a Double-Dip Recession but a Depression! Most mainstream media and politicians lying through their teeth!

[Bassmarko]

Thank you for the video. Please keep them coming.

Good luck with your move. Where are you going?

[chapthe]

these films are not preparation, they are programming the masses. at least they try. message: fight each other! Divide et impera.

But if the intellectual leaders dig the trap and prepare the people(the masses), the civil war will turn out to be just another burst propaganda bubble. just like the swine flu was. seems like the people get more and more educated and resistant against the evil propaganda smashing their private and common interests. watch?v=Sq5j0ba034M

[chapthe]

films: I meant the new movie for germany, you mentioned.

[gabrielm1971]

"moving out"...war zu erwarten...

Haben Sie einen guten Tipp, wo man sich verkriechen könnte? Beschäftigt mich nämlich seit einiger Zeit. Wenigstens die Richtung vielleicht?

Herzlichen Dank für Ihre Aufklärungsarbeit!

[SewEyeSea]

Physically moving out of the Eurozone?

Hmm... sehr interessant.

Auf beruflichen Aufstieg oder Überleben?

[Nymphe14]

Google "The World's Biggest Debtor Nations"

[jonah70757]

Top 20 what a Laundry List, as bad as the US is wow compared to the ones in the top 10 we are a cake walk. Austria better sell some more Glocks, I did not realize switzrland was so leveraged and the UK and Ireland well they are toast! interesting how the countrie that spawned Central banking and are home of iNtl Banking elites are in the worst shape!

[kricke243]

Cnbc published a list they didn't understand, or wanted us citizens to misunderstand to feel a little better

a) the list is gross debt, not net debt

b) the list excludes assets.

c) the list doesn't show off balance sheet liabilities (the us is in really bad shape here)

d) the list doesn't show current account balance (balance of trade, income from foreign stocks et.c). The US is negative = can not repay debt, need to borrow. Norway and Swedens is positive 1500% or more that of China/capita.

et.c

[kricke243]

The CNBC list is irrelevant. That list is GROSS debt, counting liabilities only, and not assets. I.e,. if I lend you 1 trillion, and you lend me the trillion back, we both would have 1 trillion in gross debt and be on that list.

What is important is the net debt, and in addition should assets be factored in, i.e did someone borrow to build a factory or to buy consumer products. Also, the current account balance, is more interesting (shows if external debt can be serviced or not).

[fal2grace]

thank you.

[ahzie99]

GDP: $171.7 billion .

GDP growth rate: 4.9%.

Per capita income: $32,800 .

Inflation rate: 1.6%.

Let's all move to Finland!

[DavidAKZ]

Debt /  GDP ?

[nanabijou62]

Where are you moving to? May I suggest Kitchener/Waterloo in Ontario Canada. I suggest this for two reasons. One, there is a very large German community there and you will feel very much welcome. Secondly, we can use very educated and intelligent people here to help us grow and adjust in this new economic climate. You will always be welcome here in Kanada!

[rossadew]

Can I come to?

[nanabijou62]

If you are well educated, ambiitous and have a desire to help other people, then yes, please come and make Kanada your home. Oh, yes, one other thing that you must do is smile and have fun.

[goldstep999]

Dr. B. is back! Thanks for the new vid, looking forward to more!

[CTOL1]

Good to see you back,

I am on the fence with this peak oil issue, I do sense this is a created crisis. It is hard to fathom that for the past sores of years we will have exhausted half ALL the oil ?

When we are sitting on huge reserves waiting to be brought in? Me thinks it is a "Shell" game PUN intended

[powergirl901]

Si,

tengo uno pero no escuchca, mas o meno,

As one of his "capital flights" that he mentioned, I need to hear before the end comes.

[Eraser7622]

@Bernd1964

Sorry, but that is incorrect. There is no peak oil issue and if you spend any time seriously researching the other side of your opinion you will find this to be true. Look into ultra deep oil wells.. oil is an abiotic substance which is perpetually created within the Earth's crust without the need for dead vegetation... this is fact, not speculation. proven, in but one way, by the discovery of oceans of oil (hydrocarbons) on other planets and moons.

Peak oil is another fear tool

[droogie76]

The other side of peak oil:

watch?v=Tivl2vUIGWg

[kricke243]

How do this old Soviet hypothesis (abiogenic petroleum) explain where the energy is coming from, is such abundance? You know energy can not be created in the Earth. It must come from somewhere. Been there since the earth formed?

With "ocean of oil", do you mean Methane on Saturn? It is not exactly the same thing... :)

I can say one thing, oil will never be completely depleted, but the day it takes more than 1 gallon of oil to produce 1 gallon of oil, that oil will not be recovered.

[Eraser7622]

No.. do not mean the methane on Saturn, although methane on Saturn proves one of two things; either the planet is covered in biology and thus life in the solar system outside of Earth is proven.. OR, that hydrocarbons do not require bio material breakdown to form.. thus proving oil's abiotic nature. Which do you think it is?

Speaking of Saturn, however, it's moon Titan has huge lakes of hydrocarbons in liquid form.. easily refined into present day gasoline. Look it up.

[DavidAKZ]

reference ?

[Eraser7622]

Sorry, but there are hundreds if not more sources for you to read. Google "abiotic oil" and dig in.. you'll arrive at your own conclusion.

[powergirl901]

Peak oil comes from the oil company's own research. It isn't a myth.

[Eraser7622]

LOL.. I assume you're joking being that it is quite obvious that it is in the oil companies' own best interest to perpetuate the peak oil concept and thus their own "research" dept might as well be called their sales and marketing dept.

[BLynchCAN]

Hey JB. There has been a lot of talk about Greece. How is Ireland seen ? Do the numbers not say that Ireland and Spain are worse off. I agree, trillions have to be destroyed. Wild retail price fluctuations here in eastern Ontario.

[DavidAKZ]

PIIIGS - Iceland too. Referendum March 6th which will reject UK and Dutch attempts to saddle their population with the excesses of a few 'investment' banks

[jonah70757]

Lets not forget all the money creation by the Central BanksThat will be driving inflation while the middle and lower classes get crushed!

[fireriver29]

If people are prepared they don't need to riot. They want us to riot and act the fool, but don't do it! One needs to look out after another, and by all means get more self reliant now! You have ample time and resources to do it, so lets get of our butts!

[oleskoollover]

Thanks JB. Please continue to share with us your understanding of the collapse from a German and Eurocentric view. Your presentations are unique.

[GypsyHustled]

Thanks for the vid. Have you considered wearing a headset during your video? Maybe like a bluetooth one. I think it would improve your sound quality.

[powergirl901]

Si,

we in South America cannot understand, the Herr Professor! Mas fuerte, no escucha!

[NhojNhoj67]

Toilet shaped recovery?

No!

Bullshit shaped recovery?

Yes!

[tetekofa]

@ Bernd1964, you are absoluely correct, peak oil, is the topic no one is talking about, but is the underlying cause of what is happening in the world today. Oil production is projected to drop by 90% within 10-12 years, it will be catastrophic.

[Eraser7622]

@tetekofa

Read my reply to bernd.. peak oil is a fear scam. Oil production has been "projected" to drop catastrophically for decades.. hasn't happened... why? "they" will tell you b/c of new oil deposit discoveries.. the truth is because oil is perpetually created within the Earth and can be accessed as Russia and Viet Nam are presently doing. Don't be scared foolish.

[tetekofa]

@ Eraser7622,

LOL, abiotic oil is a myth, as well a ultra-deep oil. Oil only exist at 7500 to 15,000 feet below ground or sea surface, in the "oil window".

New Oil discoveries peaked in 1964, Oil companies have surveyed the entire planet several times using ultra high tech instruments. They are now looking for deep water oil because all on shore deposits have been discovered.

Your living in dream land if you think we have an infinite supply of oil being created deep within the earth.

[Eraser7622]

No, it is not a myth.. Peak oil is the myth. Your oil depths are only appropriate for trapped oil pockets which.. NOW PAY ATTENTION. oil pockets which continue to fill up FROM THE BOTTOM OF THE POCKET. Look into the Vietnam wells as an example and you will learn.

[tetekofa]

@Eraser7622,

ahem, can you direct me to a couple of legitimate links, preferably papers published by geophysicist who specialize in the oil industry? and who claim that oil is abiotic in origin...and fills reservoirs from the bottom... and how the oil is not destroyed by the heat.

[Eraser7622]

Oh, sure Tetekofa.. as if there are "peer reviewed" papers published by geophysicists on abiotic oil. C'mon man.. there are so many things wrong with that request it is foolish for me to even respond. First of all, the peer review process is used to RESTRAIN science, not enable it.. Case in point is what just happened with "global warming" myth. Jeez. Secondly, it would be common knowledge already if the "establishment" acknowledged it at present. Third, we don't even know the temps @ core.

[tetekofa]

@Eraser,

Abiotic oil must be true, hell, even you said so.

[kricke243]

Who is "they"? Has all governments in oil producing countries, that is capitalists countries, socialist countries, communist countries, Muslims, Christians, dictatorships, democracies and also all private oil companies end their geologists, had a secret meeting and agreed on this, not to tell the "truth"? :-)

[Eraser7622]

No.. the technology to drill deep enough is held by only a few nations.. the US and Russia are two.. not sure who else, if anybody. it is the technology that has not been provided for doing so would plummet the price of oil and provide too much freedom to the masses from the debt slavery. Russia and Vietnam both have ultra deep wells producing right now.. Russia built Vietnam's on the SAME land where US "experts" said there was ZERO oil.. FAIL

[skybirdbird]

yes....as you or someone said that is probably why they have the scanners in the airports......can't hide gold or silver on your body......thank you for your updates....

[DavidAKZ]

take the train/bus ?

[skybirdbird]

as long as you are not crossing an ocean..:-)

[Englandareshit]

Great to have you back kind sir!

Hope the move is going well

[christo930]

I don't think there is a country in the entire world who understands the risks of financial collapse as well as Germany! They suffered for 50 years because of it.

[audiofeel1]

toilet shaped recovery, indeed.

[MaxZagar]

What will the movie be called ?

[jberni1]

Die Grenze = The border

[myrissant]

Nice to have you back B!

[jetztisfeierabend]

Vielen Dank. Immer wieder klasse.

[artdeco101010]

good to see you back !

[ccharlie100]

What a World we now live in Bernie.

Perhaps the Globalists will just throw in the towel if they cant make China sign up for their little UN Global Government - I doubt it though.

These Pirates have planned this for a long time and they wont want to stop now.

All this just to become 'Masters of the World'.

And all the time, here in Britain, we were brainwashed to believe only Germans thought like that:

Life, is not without its ironies.

Thanks once again Sir.

[jberni1]

What do you make of the news that Jersey prints new Pound notes to be released in April ?

[ccharlie100]

Yes, I did notice that. They are part of the re-issuence print by De La Rue and they follow the new issue of UK Pound Denomination released late 2008.

I suspect that the rushed re-design is part of the continued efforts to try to prevent private hoarding of notes, though why anyone would do that is a bit of a mystery.

Its worth watching because the new issuences are coming more regularily these days. If anything, it would seem to indicate confidence in a non ERM membership rush by the UK.

[62636263c]

Circling the drain.

[Alexiscom1]

Tnks for the update, video sound is very low.