Maybe I was a little too hard on you yesterday,I ain't got nothing against you personally,I just wanted to point out to you and people like you that most of the worlds population lives in a state of 'economic crisis' all the time.
I can see why you and people like you are so worried about the economy,I mean if you couldn't insulate yourself from the other 95% of the planet and you had to actually live in the world the rest of us live in you wouldn't last 6 months.You look like a 'jumper'.
Dr. Beni, Good Morning! I would like your opinion as to whether we will have hyper - inflation immediately, or, whether we will have credit-collapse induced deflation (housing prices, etc) first... In other words, credit will evaporate but CURRENCY will gain value, as long as there is still housing stock to deflate and default.
The dismantling of US corporations and shift to agricultural economy will mean decline of U.S. military power projection. There are too many interest groups that will do anything, including suppression of American citizens, to prevent that decline from happening.
@danpt2000 Yes. I know. There is no way they'd build up the most productive plantation in the world only to destroy it.
They are merely doing another macro economic harvest. This one is particularly hard on the slaves...in order to make us even MORE productive via keeping our compensation down, raising taxes, and raising the cost of living.
They definately want us working our lives away for them.
There are no free markets. In my humble opinion there havent been free markets since 1913 and the inception of the "Federal Reserve" Gold is manipulated. So are stocks. Gold should be over 2000 an ounce already.
Very nice call...I just subscribed, and look forward to watching your recent uploads on this boring Saturday! I went long on DRV (3x short real estate) last week, and am up 21% already! Something tells me that this downturn might be the real deal. Thanks for keeping us informed!
As of 1/15/2010 I went into the Federal Courthouse to file Bankruptcy and the clerk was rather friendly. So I asked her, how many people file their own bankruptcy? She said not many, but the number of bankruptcies that lawyers are filing for clients is already on track to be 10 times of 2009!!!!! That would be 10x1.4million=14 million!!! She said most of them are age 18-30....WE IS BROKE as a JOKE! No Opportunity=No Future
Service Sector=72% of GDP......How could it not? Businesses are closing around here every day. U6 unemployment is "officially" 17.3%, while I have concluded real unemployment on average around the country is between 25% and 30%. My student loans backed by government have an "indefinate" deferment.....meaning I'd never have to pay them back if I didn't want to. And I'm citing everything the doc is saying. You really mean a depression which continues after trillions of stimulus....
see? deferring writeoffs and avoiding mark-to-market is all that it's about. sure the real us economy will be smaller afterwards. but license fees and international revenues will add to that. if japan can have debt higher than GDP then the US can have even more.
"Unemployment in the Sacramento region will likely hit 13.5 percent in early 2010, according to the Sacramento Business Review.
The Business Review is a forecast published by Sanjay Varshney, dean of California State University Sacramentos College of Business Administration and Jason Bell of the CFA Society of Sacramento."
There is a distinct "deer in the headlights" edge to life in California now.
Yes I think You are paranoid. But this is OK so I do have a reference point on the Internet: Everything that you do not mention is definitely not worrying. That's a good thing.
I mean German Banks are always closed the 31st of December, (google: bankholidays germany), Thailand is in a very difficult political situation with a weak currency,
complex software does have bugs and if you want to bring gold secretly out of the US, why not by car?
That stuff's happening in Germany? That's pretty scary. I mean if you'd said Greece, there would be no surprise but Germany is the main engine of the EU as far as I know so we would all want it to be secure.
I have already made preparations some time ago, so at this point I'm just hoping I won't need to rely on them. Lets also hope some good comes from this in the longer term, particularly when it comes to blowing economic bubbles.
You are not parranoid... your concern is justified, however the joining of these dots may be mistaken in that they are not nessesarily an indicator of an iminent event. I suspect governments will continue to do anything and everything to prop the system. They don't actualy want it to collapse. It's when props no longer have effect we need to worry...in my humble opinion.
If I get a job, which I haven't been able to for almost 2 years, I am putting 99% of my money into silver, some gold, and canned foods. Anything extra will go into pre 1982 copper pennies.
Thats why the Fed monetizing debt hasn't increased the amount of money, it just improves the banks balance sheets, there's no more money actually in circulation.
i don't see how a system meltdown could happen under current circumstances. the whole world has prepared to be able to technically prevent this. of course, this technical solution comes at the price of wealth redistribution, but that's another story. it will also be necessary to stop or limit withdrawals from any weak entity in such a scenario. but the meltdown will be prohibited at any cost.
there are much more shocking news these days if you ask me.
putting big parts (but not all) of a ponzi scheme on life support measures tends to redistribute wealth from those who don't understand the game to those who do.
A NEW DOLLAR : an insider from the fed banks meeting. Bob Chapman talks to Melody Cedarstrom about the new dollar and the coming devaluation recorded on December 28th 2009
I used to work at a regional sized credit union from 07 to 08 and money market rates for jumbo accounts ($100,000+) were something like 5%, maybe even 5.5%. That was huge. Many many many older folks had $100,000+ and would deposit their monthly interest (usually $400-$500) into their checking and use it to live. The current rate is 1.41%. Just an observation. Support Peter Schiff for Senate.
I hope you are wrong. But if you are right we are all going camping in the woods to sing koombiah around canpfires while high on moomshine and eating wild game..... mmm... better stock up on guns and ammo for that.
I think the probability is almost 100%. The problem with the USA is that they don't have a producing capacity. You can't print money, backed by nothing, while producing practically nothing.
USA has a big trade deficit, citizens don't have savings and GDP is based on consumers for 70%. If you consume more than you earn, you will go bankrupt. The same goes for countries.
Nobody has ever decreased debt by increasing debt. USA is throwing good money after bad.
The US have placed financial bombs all over the globe. A lot of their risk is currently in balance sheets outside of the US.
The US can print more money. They have no industry but the headquarters of international companies will still provide tax income gained by people working elsewhere. Go out and buy a product which will not generate license or shareholder payments in the US. Good luck. Let me know what you find.
glad to read someone who understands the core concept. monetising toxic assets, however, is "equivalent enough" to printing money in my view. but you have a point in saying that the US does other things than that, namely, issue more debt, which is indeed different.
i don't fully support your point that only non-US wealth is a limiting factor in the game, as this is only the monetary aspect of the scheme. i believe there is another factor, and it may well become relevant in 2010.
(Thanks for your interesting blog jberni1) Many central banks have had a very low interest rate for a wile. Millions of house holders are financing their debts with this in mind. Is this a huge debt bubble, if the central banks putting up interest rates again? My guess is that not only are the private households that shoot themselves in the foot. The banks will suddenly have several billion in rotten loans.
Free market forces will ensure rates to increase. When Treasury rates will increase, so will loan rates. Why should a bank give you money for 3%, when they can have 4% on a treasury bond. This will be the start of the meltdown.
The FEDs exit strategy is also recipe for disaster. They will pay the banks a higher interest rate, to prevent them from lending money to the private sector. This will increase the US money supply even more. How can they actually think this is an exit strategy?
I see NO possibility of a nearterm (6-12 mos) treasury meltdown in the USA for the simple reason the FED IS THE TREASURY MARKET. As long as the FED has the ability to provide liquidity to the markets through QE, then all is well for the time being. With that said, I do believe the FED is sowing the seeds of a currency crisis which will hit in 2011-2012. I think the outcomes are simple, stop printing = deflationary depression, keep printing = hyperinflationary depression. PREPARE NOW!
Prices should be falling. The market wants to unwind all malinvestments, but the FED is preventing the market from correcting.
At some point all the exported inflation will return also. The dollars from abroad will come home to roost and American citizens will have to compete with foreigners and prices will go to the stratosphere.
I really 'enjoy' your videos. Yesterday I was reading an article on Mises. Is it possible for M3 to decrease when debt is payed back and banks not lending anymore money?
Even M1 decreased. According to the Austrian School of economics this is exactly what should happen during a recession. More savings and less spending. It is strange that this happens without higher interest rates.
I asked JB that question and he said M3 is not reduced as a result of settling debt. My only other explanation for deflation is the remaining debt translating into dire sale prices and lack of velocity of transactions - like low stock market volume up I guess (IMHO)
What I think is happening is that there has been a sell-off in bonds from countries like Greece, Spain and Portugal. This will explain an outgoing flow of money and therefore a decrease in M3. If foreigners don't want our bonds, we have to put on the printing press, like the Fed does.
Shadowstats has a graph of M3 over time where the vertical axis no units. Te graph is falling so I can only presume the unit is rate of change ie slowing. What is PIGS thanks ?
I read that this the reason many people could not use their bank cards to withdraw cash is due to a technical error on the EC chips and to do with the year 2010. This might be just a false excuse, but it seems very plausible.
This is happaning now ,I can see the same signs in people as I did before the realastate crissis.When I talk to them about what is going on with the money /debt /china,they just walk away mumbling to them selfs. the same way they did before
I've heard nothing on the net except your heads up, and appreciate that. There are too many wild cards out there to be satisfied that things will move in a predictable manner. It's prudent in this environment to be ready now and sleep well until things get exciting.
I've heard virtually nothing of this, but then all that come across American media is that things are tough but are slowly getting better and likely to lead to something close to a full recovery over the next 2 to 3 years. Now, that's obviously nonsense, but you really don't hear much else. I'll be heading out to pick up some Silver coins on Thursday. Hopefully nothing happens before then because I'd like to get a decent price. Thanks for the update, and I hope you'll give more detail later.
History will repeat itself. a war will come soon. the Rothchilds are collasping finanical markets to consolidate the banking industry and currency markets. the recent terror plot was a fake to full americans into war with iran so we can secure the oil in that region, which may cause us to have a war with china over oil reserves.
Things are nervouslyy quiet here in Canada. I do possess a number of ounces of silver (just in case). I have shied away from gold. It seems to be a bit high in price for the common man. If it shoots up higher, it may be dangerous to hold any gold. And if gold goes too high for common trade, how will you buy bread? No shop owner will trade your ounce of gold for the entire contents of his shop. I will stick with 10 ounce or smaller silver bullion. Much easier to trade for goods.
When the interest rate moves up the market will head to the down side and there will be a race to bonds and precious metals the bond market will implode to the down side and gold and silver will explode
Just a note on the "false flag" terrorist attempt in Detroit. There is more than enough evidence to provide that it was false for the renewal of the patriot act, days later, here and the additional "naked" scanners at the airports.
The witniss' of the suspected terrorist was assisted on the plane from Amsterdam and the "eye" witniss' on the plane with details that were pertinent in the discovery were not followed through with by the FBI. It was blown off....
Yes, a false flag just like pretty much all terrorist acts like 9/11 and 7/7. And the way they immediately said it was connected to the Al-CIAda of Yemen, because US needed the geopolitical presence there! Anyone interested should listen to historian Webster Tarpley who has a very detailed vision of the world's geopolitical map and all these false flags that are nothing more than brainwashing of the masses.
interesting thought about the body scanner. I was thinking the same thing you were. could it be the terrorist plot was a fake? to stop people from smuggling money out the country? create a situation where people willing do what you want them to. The rothchilds have mastered that art. ( check the truth about the titanic on youtube then search the web)
suspiciously, it looks like the money is being pulled out of the M3 to M4...... Wonder if they could be stockpiling dollars and converting it into the purchase of gold in the US to further break it?
If the M3 shows an increase outside of the "printing" amounts, maybe that's an indicator of the imminent plan?
Cash will be king in the case of any near term crisis. The majority of the worlds population are completely ignorant of present economic realities, there money is tied up electronicaly and inflation will not be a problem until the inevitable deflation has run its course. Having said that, physical gold/silver is of course the only way to secure long term wealth protection for those who can afford it. For average Joe however, hold cash as you will be first in line at the supermarket checkout.
lol - agreed with the exception of the "supermarket" - the place where food was once stored for purchasing. I give it 8 hours before the shelves are depleted.
when the shit hits the fan, so many people are going to be screwed. Get your cash out before the gov declares a bank holiday. Exchange it for gold and silver and ride out the storm... same thing happened in mexico in the early 80s, a lot of people lost everything when the peso collapsed...it became worthless
Friend of mine went to the bank to exchange Twenty dollar bills for hundreds--he was on his way to a coin dealer and wanted to pay in higher denominations. The bank wanted his account information and wanted him to sign for the exchange. He refused to sign, took his twenties, and left.
Thanks for the update. I agree economy will get worse. But I don't think I want to get to paranoid about some glitches that occurs. Good to be prepared but not to be too paranoid about it.
I refuse to use safety deposit boxes anymore, I do not trust them .... when the crap hits the fan it will be so fast that I don't want to get locked out.
In relation to Vietnam - my local computer guy who has a shop here in Melbourne Australia told me that when you pay for a home in Vietnam you have to pay for it in Gold.....
I asked him why - he said 'no one trusts the paper currency'
- the dong i think it is.
That was sometime last year - but he made it sound like a standard practice.
Read today that in the Eurozone (they have the same system in the US I believe) the banks no longer have to adjust their books to reflect their risks. So if they have an extremely risky investment worth 100' - it will show as worth 100' in their books. Previously they had to put down the risk adjusted value. This is a new system in force since the collapse in 2007.
As far as I understand stricter controls @ US airports apply only to passengers going to or coming from certain countries. Also, have the laws changed about bringing in and out currency/gold/silver? If not, then only un-declared (if declaration is at all needed) transport will be affected. And that doesn't differ from how countries want to limit folks brining in tobacco or alcohol.
You shouldn't feel paranoid. I personally don't understand how anybody can believe 'the market' estimate of value these days? There is lots of confusion out there, but it makes sense to me that when countries like Germany start taking steps to prevent capital flight, there's something happening that is causing them to do so.
It also makes sense that the first steps they take down this road would be secret.
Friday Arnold will show his budget. It is a black hole and he is begging Obama for money. I live here and see closed storefronts all over the place. A huge inventory of bank owned real estate is still in hiding, and these banks are not paying the property taxes... this thing is like a neutron bomb.. the scenery looks ok, but it is economic death... happy new year everyone.
The topic at the neighborhood boxing day party was victory garden tips.
@webdork69 Glad to hear you are talking about gardens ... but you'd better start with bottled water and canned meats/soups - HEAVY Rumors that California will Declare Bankruptcy in January == No "State Checks" for ANYone ...with possible repurcussions across the nation.
Why do you think Canadian troops are "training" in So. Cal?
Today the SEC (USA regulators) aproved a mesure that allows money funds to freeze accounts if they want to withdraw money and they can not deliver. The thing is getting tight.
Thank you Dr. Berninger. When you put all of those separate factors together, it paints a pretty cloudy picture. Think I'll take a bit of money out of the bank.
what didn't happen in 09' has a greater chance of happening in10'. The US Govt is gonna do the same devestaing things they did last year. like, bailouts and more wars more spending with greater deficit. this did put a bandaid on the housing proplem for sure as well as other areas of econ. were doomed to repeat the same tactics and this the MSM will say there is a recovery but it really wont come for americans. bank holiday is likely. gold will rise steady as will silver.
Keep your chin up BITAREN2, there are plenty of resourceful (and heavily) farm animals who see it coming.
Humans rule the planet because of our ability to adapt and survive under difficult circumstances, this situation is no different. Use your head and think long term
jerni1, Your video title says "Banking and gold market breakdown ahead" Do you feel gold and precious metals will Break Down along with banking / US dollar? Based on other previous videos of yours I thought you were recommending that we should own gold/silver. Now it sounds like you are saying that gold is not a good thing to own. Why would one own silver as you suggest and not gold?
havent had any problems with getting money... only one time with a spanish bank account in kaixa, which didnt want to cash out a 1 year investment. other than that, funds seem to be flowing smoothly.
most are blind to what is going on s long as they have thier job at walmart and the cable tv still works. these are scarey times if you really know what is going on today.
The really scary thing is we only a very small amount of what's going on - the tip of the iceberg. Just think how much we'd know if they actually audited the Fed? There's a good reason they won't open the books.
with all due respect..... Canada did not print much... I agree that there is a big problem in USA with deficit. Where did you get $53 trillions ?? do you include cities and states ?? I have a problem with your "total collapse" it's just numbers are getting better, Oil is stable, Gold slowly is going down. 20 years ago we had 14% unemployment in Montreal, today we have 9.5 % ?? it just doesn't make sense !!
you really cant compare Montreal to the US. unemployment number mean nothing even if they were true.
unemployment is only they % of those who are unemployed who are seeking a job. it does not account for all those working part time, took a lower paying job, just stopped looking, or no longer get a unemployment check.
just based on what i see in real life i put the real number around 17-22%
Crash it already! I want to get my licks in before I'm too old, course mabey that's also in their plans. The older you are the harder it is to retrain you into believing this NWO is a good thing
Ich besitze Sweiss Franc, bin ich im Gefahr?
edwardwills 11 months ago
You are not paranoid at all.
pepintheshort100 1 year ago
HaHA HAA HaHAAAA
The only things he can show us are some silver coins;
nothing more,
hahahaha
talks big of GOLD blabla...
and to show us....
but,
no gold he shows......
some rediculous SILVER COINS.....
Biiiig EXpert....
TheTrueResponder 1 year ago
Maybe I was a little too hard on you yesterday,I ain't got nothing against you personally,I just wanted to point out to you and people like you that most of the worlds population lives in a state of 'economic crisis' all the time.
HomerDBraver 1 year ago
I can see why you and people like you are so worried about the economy,I mean if you couldn't insulate yourself from the other 95% of the planet and you had to actually live in the world the rest of us live in you wouldn't last 6 months.You look like a 'jumper'.
HomerDBraver 1 year ago
Dr. Beni, Good Morning! I would like your opinion as to whether we will have hyper - inflation immediately, or, whether we will have credit-collapse induced deflation (housing prices, etc) first... In other words, credit will evaporate but CURRENCY will gain value, as long as there is still housing stock to deflate and default.
Danke Shoen
Bill25cycle 1 year ago
An economic meltdown would be hard, but ultimately good for us.
Good times have made us so soft, we traded our rugged individual/agriculture/independence culture for the corporate lifestyle.
So people will have to put down a Starbuck's coffee and plant a seed...BFD.
TheGoalSetter 2 years ago
The dismantling of US corporations and shift to agricultural economy will mean decline of U.S. military power projection. There are too many interest groups that will do anything, including suppression of American citizens, to prevent that decline from happening.
danpt2000 2 years ago
@danpt2000 Yes. I know. There is no way they'd build up the most productive plantation in the world only to destroy it.
They are merely doing another macro economic harvest. This one is particularly hard on the slaves...in order to make us even MORE productive via keeping our compensation down, raising taxes, and raising the cost of living.
They definately want us working our lives away for them.
TheGoalSetter 2 years ago
There are no free markets. In my humble opinion there havent been free markets since 1913 and the inception of the "Federal Reserve" Gold is manipulated. So are stocks. Gold should be over 2000 an ounce already.
EMPIRE0FLIES 2 years ago
Very nice call...I just subscribed, and look forward to watching your recent uploads on this boring Saturday! I went long on DRV (3x short real estate) last week, and am up 21% already! Something tells me that this downturn might be the real deal. Thanks for keeping us informed!
sphindog 2 years ago
COLLAPSE IMMINENT!!! Breaking News!!!
As of 1/15/2010 I went into the Federal Courthouse to file Bankruptcy and the clerk was rather friendly. So I asked her, how many people file their own bankruptcy? She said not many, but the number of bankruptcies that lawyers are filing for clients is already on track to be 10 times of 2009!!!!! That would be 10x1.4million=14 million!!! She said most of them are age 18-30....WE IS BROKE as a JOKE! No Opportunity=No Future
bradleymxz 2 years ago
i'm really not meaning to disappoint anyone here but that won't lead to a collapse, bradleymxz. but yes, this is a depression.
DoubleTroubled 2 years ago
Service Sector=72% of GDP......How could it not? Businesses are closing around here every day. U6 unemployment is "officially" 17.3%, while I have concluded real unemployment on average around the country is between 25% and 30%. My student loans backed by government have an "indefinate" deferment.....meaning I'd never have to pay them back if I didn't want to. And I'm citing everything the doc is saying. You really mean a depression which continues after trillions of stimulus....
bradleymxz 2 years ago
see? deferring writeoffs and avoiding mark-to-market is all that it's about. sure the real us economy will be smaller afterwards. but license fees and international revenues will add to that. if japan can have debt higher than GDP then the US can have even more.
DoubleTroubled 2 years ago
@bradleymxz 30%!!!! Holy shit man! I thought we had it bad in Irleland! Guess we're all totally screwed!
Lousypenguin 2 years ago
jberni1
Time For An Update
Your Views and expertise are appreciated
Where R U?
ABETRMAN 2 years ago
hope usa wont default before the end of my new mac mini warranty ;-)
quantengott 2 years ago
A little too much preparation is infinitely better than a little too much faith.
iamgabrielf 2 years ago
@iamgabrielf
depends where you invest your faith. i'm not an expert but, i'd say faith in the u.s federal govnt. is not ...a good idea.
theMETALDOVE 2 years ago
paranoid kraut lol.
paddythetinker 2 years ago
i'd say we are already in hyperinflation...judging how fast the prices are rising in my local sainsburys...
michaelclarke18 2 years ago
Happy (late) New Year to you and thank you for all that you do.
I check your site daily and I know I am not alone.... we need a new video, please.
I don't like my coffee without your video.
PrepNow 2 years ago 3
I'll second that! Where's our next video!?
davfritz 2 years ago 2
Sacramento unemployment to hit 13.5 percent
by Sacramento Business Journal
"Unemployment in the Sacramento region will likely hit 13.5 percent in early 2010, according to the Sacramento Business Review.
The Business Review is a forecast published by Sanjay Varshney, dean of California State University Sacramentos College of Business Administration and Jason Bell of the CFA Society of Sacramento."
There is a distinct "deer in the headlights" edge to life in California now.
webdork69 2 years ago
I'm not sure whats more scary..
That his predictions are as close as predictions can get or that he always knows when I'm drinking coffee.
IronicallyVague 2 years ago
i think you have lost some credibility here
but the videos are still informative
abbsgmz 2 years ago
Yes I think You are paranoid. But this is OK so I do have a reference point on the Internet: Everything that you do not mention is definitely not worrying. That's a good thing.
I mean German Banks are always closed the 31st of December, (google: bankholidays germany), Thailand is in a very difficult political situation with a weak currency,
complex software does have bugs and if you want to bring gold secretly out of the US, why not by car?
alalal5 2 years ago
That stuff's happening in Germany? That's pretty scary. I mean if you'd said Greece, there would be no surprise but Germany is the main engine of the EU as far as I know so we would all want it to be secure.
I have already made preparations some time ago, so at this point I'm just hoping I won't need to rely on them. Lets also hope some good comes from this in the longer term, particularly when it comes to blowing economic bubbles.
TilveranNavarre 2 years ago
You are not parranoid... your concern is justified, however the joining of these dots may be mistaken in that they are not nessesarily an indicator of an iminent event. I suspect governments will continue to do anything and everything to prop the system. They don't actualy want it to collapse. It's when props no longer have effect we need to worry...in my humble opinion.
davfritz 2 years ago
imagine ! what are the implications of hyperinflation in a RESERVE CCY! they are crazy
kalm77 2 years ago
Prepare yourself Chairman of Portuguese Central Bank is moving to ECB, ahahahah the most imcompetent man on earth.
rlaginha1 2 years ago
Now central Bank of Portugal says that 2010 will be a fantastic year and people should increase spending and get rid of savings, YES its true.
So more spending and less savings. Prepare yoursel for this man on ECB :).
rlaginha1 2 years ago
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rlaginha1 2 years ago
Comment removed
rlaginha1 2 years ago
If I get a job, which I haven't been able to for almost 2 years, I am putting 99% of my money into silver, some gold, and canned foods. Anything extra will go into pre 1982 copper pennies.
bradleymxz 2 years ago
California politicians are still in denial and only scratching the surface with the budget problems here..
Our local paper now carries a weekly column of closed businesses, many have been here for 30 years.
The latest trend here in the 'golden state' is to label closed business storefronts as "closed for remodeling"... yea, right.
We have 'remodeling' all over the place. But there are no workers inside. We are just sitting here waiting for the inevitable.
webdork69 2 years ago
Thats why the Fed monetizing debt hasn't increased the amount of money, it just improves the banks balance sheets, there's no more money actually in circulation.
MotaMouse 2 years ago
407
Just to be clear. When you repay a loan that money is deleted from the system.
MotaMouse 2 years ago
Gold and Silver will take off over the next couple of years.
theguvnorjimmy 2 years ago
My was directed at
TheCZMan who states that the "us does not print money"
But i thank y anyway but what is it now print or not??
aburgheim 2 years ago
Just wait until the repatriation of all the dollars China, et al have lent us takes place. Lets get this party started!!
Motoicon 2 years ago
Here's another bit of news suggesting that rough waters are ahead (pay special attention to the last item):
*FED CALLS FOR `ROBUST PROCESSES' FOR CURBING INTEREST RATE RISK
*FED SAYS EXCESSIVE RISK MAY PROMPT REQUIREMENT TO RAISE CAPITAL
*FED TO REQUIRE CORRECTIVE ACTION FOR FIRMS WITH EXCESSIVE RISK
*REGULATORS RELEASE ADVISORY ON INTEREST RATE RISK IN WASHINGTON
*U.S. WARNS BANKS TO GUARD AGAINST RISK OF RISING INTEREST RATES
ceb1970 2 years ago
we are but a second stimulus away from long lasting economic recovery
florgat91 2 years ago
Enjoy YOUR coffee!! =)
mooseythejuiceman 2 years ago
i don't see how a system meltdown could happen under current circumstances. the whole world has prepared to be able to technically prevent this. of course, this technical solution comes at the price of wealth redistribution, but that's another story. it will also be necessary to stop or limit withdrawals from any weak entity in such a scenario. but the meltdown will be prohibited at any cost.
there are much more shocking news these days if you ask me.
DoubleTroubled 2 years ago
A wealth redistribution? Ummmm, in what way?
TheCZMan 2 years ago
putting big parts (but not all) of a ponzi scheme on life support measures tends to redistribute wealth from those who don't understand the game to those who do.
DoubleTroubled 2 years ago
Silver Gold and not a small but a LARGE coffee !
Nice video !!
77300d 2 years ago
A NEW DOLLAR : an insider from the fed banks meeting. Bob Chapman talks to Melody Cedarstrom about the new dollar and the coming devaluation recorded on December 28th 2009
mro819 2 years ago
''But gold will go down this year .... $300 minimum ! you'll see ! ''
Yawn.
michaelclarke18 2 years ago
@David
PIGS is: Portugal, Ireland, Greece, Spain
tverboon 2 years ago
I used to work at a regional sized credit union from 07 to 08 and money market rates for jumbo accounts ($100,000+) were something like 5%, maybe even 5.5%. That was huge. Many many many older folks had $100,000+ and would deposit their monthly interest (usually $400-$500) into their checking and use it to live. The current rate is 1.41%. Just an observation. Support Peter Schiff for Senate.
bradleymxz 2 years ago 2
Gold is up! Hopefully there is some more time before "game over".
SolitonPL 2 years ago
if the gold is up.... that means "game over" is very soon !!
But gold will go down this year .... $300 minimum ! you'll see !
arka67 2 years ago
3 quarter this year gold will be aroud 700- 800 time to buy then.
danisotk 2 years ago
agree !
arka67 2 years ago
oops... typo while high on mooNshine!
davfritz 2 years ago
I hope you are wrong. But if you are right we are all going camping in the woods to sing koombiah around canpfires while high on moomshine and eating wild game..... mmm... better stock up on guns and ammo for that.
davfritz 2 years ago
who is larry summers? If it happens that qwick Im gonna tell a lot of people I told ya so and I ant got enuff for you grasshopper.
STOPPUCKNOW 2 years ago
Dear Bernie
In ur 1 video before, you said USA would default.Can u give us a percentage of probability?
85932 2 years ago
I think the probability is almost 100%. The problem with the USA is that they don't have a producing capacity. You can't print money, backed by nothing, while producing practically nothing.
USA has a big trade deficit, citizens don't have savings and GDP is based on consumers for 70%. If you consume more than you earn, you will go bankrupt. The same goes for countries.
Nobody has ever decreased debt by increasing debt. USA is throwing good money after bad.
tverboon 2 years ago
Default in terms of devaluation above 40% = 60% loss of PPT (90% probability)
Default in terms of "Hey s... we wont give u money" (probability 60%)
jberni1 2 years ago
The USD is backed by oil.
The US have placed financial bombs all over the globe. A lot of their risk is currently in balance sheets outside of the US.
The US can print more money. They have no industry but the headquarters of international companies will still provide tax income gained by people working elsewhere. Go out and buy a product which will not generate license or shareholder payments in the US. Good luck. Let me know what you find.
DoubleTroubled 2 years ago
One point I beg to differ: the US does not print money, it relies on credit emission. A bit different.
The only limitation to the current system is the amount of wealth left outside of the US.
Once this amount has sunk, the US scheme will be forced to an end.
Till that point, the US can go deep as much as they want into debt.
I would even say that the US virtually has no debt. The debt has become the issue of non US citizens, especially the poorest around the world.
TheCZMan 2 years ago 2
glad to read someone who understands the core concept. monetising toxic assets, however, is "equivalent enough" to printing money in my view. but you have a point in saying that the US does other things than that, namely, issue more debt, which is indeed different.
i don't fully support your point that only non-US wealth is a limiting factor in the game, as this is only the monetary aspect of the scheme. i believe there is another factor, and it may well become relevant in 2010.
DoubleTroubled 2 years ago
The federal does not print money??
Explain please!
aburgheim 2 years ago
They emit credits. That is different.
TheCZMan 2 years ago
did you ATM start working yet ??
arka67 2 years ago
Ill do a video on this
jberni1 2 years ago
last night News; Germany have problem with chip Card, but problem is over by now !!
arka67 2 years ago
so it is a millenium bug in the software of German Bank cards?
Software does not recognize the year 2010. So the millenium bug is postponed 10 years.
opzoutenAUBnugraag 2 years ago
can u source the Vietnam article about the gold platform being shut down in the Video info
fox20012 2 years ago
Just PLZ tell me one thing after the melt down will i still be able to trade my physical belongings for coffee!
fox20012 2 years ago
(Thanks for your interesting blog jberni1) Many central banks have had a very low interest rate for a wile. Millions of house holders are financing their debts with this in mind. Is this a huge debt bubble, if the central banks putting up interest rates again? My guess is that not only are the private households that shoot themselves in the foot. The banks will suddenly have several billion in rotten loans.
PanzerTech 2 years ago
Free market forces will ensure rates to increase. When Treasury rates will increase, so will loan rates. Why should a bank give you money for 3%, when they can have 4% on a treasury bond. This will be the start of the meltdown.
The FEDs exit strategy is also recipe for disaster. They will pay the banks a higher interest rate, to prevent them from lending money to the private sector. This will increase the US money supply even more. How can they actually think this is an exit strategy?
tverboon 2 years ago
I see NO possibility of a nearterm (6-12 mos) treasury meltdown in the USA for the simple reason the FED IS THE TREASURY MARKET. As long as the FED has the ability to provide liquidity to the markets through QE, then all is well for the time being. With that said, I do believe the FED is sowing the seeds of a currency crisis which will hit in 2011-2012. I think the outcomes are simple, stop printing = deflationary depression, keep printing = hyperinflationary depression. PREPARE NOW!
reefer75 2 years ago
Prices should be falling. The market wants to unwind all malinvestments, but the FED is preventing the market from correcting.
At some point all the exported inflation will return also. The dollars from abroad will come home to roost and American citizens will have to compete with foreigners and prices will go to the stratosphere.
tverboon 2 years ago
I agree completely... I only disagree with jbern1 on timing. I believe massive inflation and bond market implosion is still out 12+ months.
reefer75 2 years ago
Yes, inflation will be offset by the "meltdown"
jberni1 2 years ago
That is correct, but QE causes short term deflation according to my theories! So it destroys jobs!
jberni1 2 years ago
Hi Jörn,
I really 'enjoy' your videos. Yesterday I was reading an article on Mises. Is it possible for M3 to decrease when debt is payed back and banks not lending anymore money?
Even M1 decreased. According to the Austrian School of economics this is exactly what should happen during a recession. More savings and less spending. It is strange that this happens without higher interest rates.
Or am I reading this the wrong way?
tverboon 2 years ago
M1 only decreased on a monthly basis, it increased YoY with 12.6%, sorry for my misreading.
tverboon 2 years ago
I asked JB that question and he said M3 is not reduced as a result of settling debt. My only other explanation for deflation is the remaining debt translating into dire sale prices and lack of velocity of transactions - like low stock market volume up I guess (IMHO)
DavidAKZ 2 years ago
I have been reading into M3 definitions.
What I think is happening is that there has been a sell-off in bonds from countries like Greece, Spain and Portugal. This will explain an outgoing flow of money and therefore a decrease in M3. If foreigners don't want our bonds, we have to put on the printing press, like the Fed does.
tverboon 2 years ago
M3 cannot shrink, as otherwise banks will fail. If it shrinks its a bad sign and causes ripple effects in the banking and money markets.
Yes, the PIGS are the issue
jberni1 2 years ago
Do not worry Mr Berninger for that M1 blow up incredibly
grossleinbach 2 years ago
Shadowstats has a graph of M3 over time where the vertical axis no units. Te graph is falling so I can only presume the unit is rate of change ie slowing. What is PIGS thanks ?
DavidAKZ 2 years ago
I read that this the reason many people could not use their bank cards to withdraw cash is due to a technical error on the EC chips and to do with the year 2010. This might be just a false excuse, but it seems very plausible.
tinyurl (dot) com (slash) ybss7sj
elboertjie 2 years ago
This is happaning now ,I can see the same signs in people as I did before the realastate crissis.When I talk to them about what is going on with the money /debt /china,they just walk away mumbling to them selfs. the same way they did before
jefferyconnors 2 years ago
I've heard nothing on the net except your heads up, and appreciate that. There are too many wild cards out there to be satisfied that things will move in a predictable manner. It's prudent in this environment to be ready now and sleep well until things get exciting.
InTheSticks1881 2 years ago
I don't think that the central banks will stop to flood the market with printed money.
The states have to borrow the money that vanish in the real economy, and they will do this until currencies getting worthless.
Thanks for posting and
Greetings from Germany
ScienceArtSpirit 2 years ago
I've heard virtually nothing of this, but then all that come across American media is that things are tough but are slowly getting better and likely to lead to something close to a full recovery over the next 2 to 3 years. Now, that's obviously nonsense, but you really don't hear much else. I'll be heading out to pick up some Silver coins on Thursday. Hopefully nothing happens before then because I'd like to get a decent price. Thanks for the update, and I hope you'll give more detail later.
veritasfiles 2 years ago
"We are all screwed. Oh, and by the way, happy new year."
Happy New Year to you, jberni1. The end of the video made me smile :-).
Love the videos, keep them coming.
zeropointpower 2 years ago
History will repeat itself. a war will come soon. the Rothchilds are collasping finanical markets to consolidate the banking industry and currency markets. the recent terror plot was a fake to full americans into war with iran so we can secure the oil in that region, which may cause us to have a war with china over oil reserves.
streetmoney21 2 years ago
check this out on youtube Prelude to War with Iran
streetmoney21 2 years ago
Things are nervouslyy quiet here in Canada. I do possess a number of ounces of silver (just in case). I have shied away from gold. It seems to be a bit high in price for the common man. If it shoots up higher, it may be dangerous to hold any gold. And if gold goes too high for common trade, how will you buy bread? No shop owner will trade your ounce of gold for the entire contents of his shop. I will stick with 10 ounce or smaller silver bullion. Much easier to trade for goods.
nanabijou62 2 years ago
What do you think is going on with the PIMCO bond funds? (PHK, PTO, PCN).
hrosemd 2 years ago 3
When the interest rate moves up the market will head to the down side and there will be a race to bonds and precious metals the bond market will implode to the down side and gold and silver will explode
NovusChaoMundi 2 years ago 3
Are you certain? If an impending implosion of the dollar with a default on it's liablities, I believe the treasuries will collapse as well.
As for gold, I personally am still mixed. When it comes time to cash in, and without communistic controls, the value will tumble as well.
toddhawley 2 years ago
@toddhawley I think the government will keep printing money rather than have a default
NovusChaoMundi 2 years ago 2
jberni-
Just a note on the "false flag" terrorist attempt in Detroit. There is more than enough evidence to provide that it was false for the renewal of the patriot act, days later, here and the additional "naked" scanners at the airports.
The witniss' of the suspected terrorist was assisted on the plane from Amsterdam and the "eye" witniss' on the plane with details that were pertinent in the discovery were not followed through with by the FBI. It was blown off....
toddhawley 2 years ago 2
Yes, a false flag just like pretty much all terrorist acts like 9/11 and 7/7. And the way they immediately said it was connected to the Al-CIAda of Yemen, because US needed the geopolitical presence there! Anyone interested should listen to historian Webster Tarpley who has a very detailed vision of the world's geopolitical map and all these false flags that are nothing more than brainwashing of the masses.
ProofCrash 2 years ago 2
Have you ever tried to convince family, friends or total strangers of such things?
The apathy of the country is "ALMOST" humorous!
But, it has it's benefits. Convince all the people you don't like into the importance of getting their vaccines!!!
Regards- lol "Al-CIAda" $!%^ I like it!
toddhawley 2 years ago 2
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streetmoney21 2 years ago
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streetmoney21 2 years ago
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streetmoney21 2 years ago
interesting thought about the body scanner. I was thinking the same thing you were. could it be the terrorist plot was a fake? to stop people from smuggling money out the country? create a situation where people willing do what you want them to. The rothchilds have mastered that art. ( check the truth about the titanic on youtube then search the web)
streetmoney21 2 years ago
I am sure the pressmen are busy keeping the presses bearings oiled and the feeders sorted out as the fiat bills stack up.
I am seeing some of my favorite sellers on Ebay are not moving product lately (not counting PM sellers)
Speaking of, time to restock the pantry as well!!
CTOL1 2 years ago
Credit Crunch, you people have not seen nothing yet.
Ganbareg 2 years ago
Would you propose defaulting on credit cards or continuing payment?
toddhawley 2 years ago
yes the new machines are about money laundering..period
Ipluckithard 2 years ago
suspiciously, it looks like the money is being pulled out of the M3 to M4...... Wonder if they could be stockpiling dollars and converting it into the purchase of gold in the US to further break it?
If the M3 shows an increase outside of the "printing" amounts, maybe that's an indicator of the imminent plan?
toddhawley 2 years ago
Cash will be king in the case of any near term crisis. The majority of the worlds population are completely ignorant of present economic realities, there money is tied up electronicaly and inflation will not be a problem until the inevitable deflation has run its course. Having said that, physical gold/silver is of course the only way to secure long term wealth protection for those who can afford it. For average Joe however, hold cash as you will be first in line at the supermarket checkout.
johnTconover 2 years ago 2
Excellent comment.
Buy PMs when they become much cheaper due to deflation.
waldentree 2 years ago
lol - agreed with the exception of the "supermarket" - the place where food was once stored for purchasing. I give it 8 hours before the shelves are depleted.
Save the Animals - buy alpo
toddhawley 2 years ago
Thanks for the update.
ronaldoelpaso 2 years ago
We are way beyond the point where any idea put forth, and called paranoid.
buckley264 2 years ago
when the shit hits the fan, so many people are going to be screwed. Get your cash out before the gov declares a bank holiday. Exchange it for gold and silver and ride out the storm... same thing happened in mexico in the early 80s, a lot of people lost everything when the peso collapsed...it became worthless
donniebrasco24 2 years ago 2
Friend of mine went to the bank to exchange Twenty dollar bills for hundreds--he was on his way to a coin dealer and wanted to pay in higher denominations. The bank wanted his account information and wanted him to sign for the exchange. He refused to sign, took his twenties, and left.
tyronebiggums3 2 years ago 2
You are absolutely right get your money out now if you still can and trade it for gold and silver.
dazedabyss 2 years ago 2
Thanks for the update. I agree economy will get worse. But I don't think I want to get to paranoid about some glitches that occurs. Good to be prepared but not to be too paranoid about it.
actandwin 2 years ago 3
I refuse to use safety deposit boxes anymore, I do not trust them .... when the crap hits the fan it will be so fast that I don't want to get locked out.
polarbeach 2 years ago 3
Keep it up Thankyou and may GOD Bless
exhorter111 2 years ago
Good eye. Look for a bank holiday in the U.S., and a revaluation of the Dollar sometime this year.
62636263c 2 years ago 3
To all who have Gold and Silver well done -
shrewed move.......
most likely 1% of 1% of the western worlds population own real physical money - G & S.
Don't fret over its price...
if you can afford to get more do so when it dips.............good luck.
Lots of talk of the US Bond market popping this year........that will be MASSIVE if it does pop!
dojufitz 2 years ago 3
In relation to Vietnam - my local computer guy who has a shop here in Melbourne Australia told me that when you pay for a home in Vietnam you have to pay for it in Gold.....
I asked him why - he said 'no one trusts the paper currency'
- the dong i think it is.
That was sometime last year - but he made it sound like a standard practice.
dojufitz 2 years ago 3
Berni
Thank you very much for this. I'll get that check cashed at the customer's bank tomorrow, instead of waiting for it to clear at my bank.
THANK YOU so much for the warning, and no you're not a "paranoid kraut".
whiskerchild 2 years ago
What does the M3 situation mean?
Read today that in the Eurozone (they have the same system in the US I believe) the banks no longer have to adjust their books to reflect their risks. So if they have an extremely risky investment worth 100' - it will show as worth 100' in their books. Previously they had to put down the risk adjusted value. This is a new system in force since the collapse in 2007.
csabasand 2 years ago
As far as I understand stricter controls @ US airports apply only to passengers going to or coming from certain countries. Also, have the laws changed about bringing in and out currency/gold/silver? If not, then only un-declared (if declaration is at all needed) transport will be affected. And that doesn't differ from how countries want to limit folks brining in tobacco or alcohol.
csabasand 2 years ago
You shouldn't feel paranoid. I personally don't understand how anybody can believe 'the market' estimate of value these days? There is lots of confusion out there, but it makes sense to me that when countries like Germany start taking steps to prevent capital flight, there's something happening that is causing them to do so.
It also makes sense that the first steps they take down this road would be secret.
BugsMr123 2 years ago
Why would a person as intelligent as yourself have a safety deposit box? Also, has your bank been open for business since the closure on 12/31?
Lexi8888 2 years ago 2
Thank you, people who are paranoid rarely recieve there due respect thank you again for exspressing your very ligitamit concerns.
As always you get 5 stars (sorry for any spelling)
thanks timeless
timelesstruths 2 years ago
This comment has received too many negative votes show
Herr Doctor... You're a paranoid Kraut:)
financialcounselor 2 years ago
I don't think this comment deserves to be rated down. It is clearly a humerous response to jberni's remarks in the video.
hamyncheese 2 years ago
California is going into the abyss.
Friday Arnold will show his budget. It is a black hole and he is begging Obama for money. I live here and see closed storefronts all over the place. A huge inventory of bank owned real estate is still in hiding, and these banks are not paying the property taxes... this thing is like a neutron bomb.. the scenery looks ok, but it is economic death... happy new year everyone.
The topic at the neighborhood boxing day party was victory garden tips.
webdork69 2 years ago 3
@webdork69 Glad to hear you are talking about gardens ... but you'd better start with bottled water and canned meats/soups - HEAVY Rumors that California will Declare Bankruptcy in January == No "State Checks" for ANYone ...with possible repurcussions across the nation.
Why do you think Canadian troops are "training" in So. Cal?
MzProgressive 2 years ago
Coughie enjoyed...
Tressco 2 years ago
What is this "crisis/meltdown" you're talking about? vat on 25%, harmonized pensions, omission of walfare??
TheInvinciblePixel 2 years ago
Today the SEC (USA regulators) aproved a mesure that allows money funds to freeze accounts if they want to withdraw money and they can not deliver. The thing is getting tight.
hugolp 2 years ago 2
The trend is your friend... If markets go north take your piece of the cake.
Bernie is picking negative news which fore sure are right. But he's ignoring the overall bullish market trend missing great opportunities.
RalfBertram 2 years ago
Thank you for sharing this.
chiyerano 2 years ago
Thank you so much for your insight!
Today I bought a little more food and will try to get to the bank to get some more of MY money.
Happy New Tear to you and yours!
haserterr 2 years ago
I meant to say Happy New Year, but somehow Happy New Tear does seem appropriate!
haserterr 2 years ago
I meant to say heavily armed
Frankenpalin 2 years ago
Thank you Dr. Berninger. When you put all of those separate factors together, it paints a pretty cloudy picture. Think I'll take a bit of money out of the bank.
fal2grace 2 years ago
pending SEC regulation 22e-3[a]
suspend redemption to allow for an orderly liquidation of fund assets
of money market funds
full story over at zero hedge
article titled
this is your government
chena3 2 years ago
what didn't happen in 09' has a greater chance of happening in10'. The US Govt is gonna do the same devestaing things they did last year. like, bailouts and more wars more spending with greater deficit. this did put a bandaid on the housing proplem for sure as well as other areas of econ. were doomed to repeat the same tactics and this the MSM will say there is a recovery but it really wont come for americans. bank holiday is likely. gold will rise steady as will silver.
grasshutz 2 years ago
So interesting information. I hadn't thought about it but it may be, I mean the crash may be next months.
Sometimes I think the humanity is something like a farm in wich we are waiting for the slaughter.
Really things can't be worse, in the economy
BITARTEN2 2 years ago
Keep your chin up BITAREN2, there are plenty of resourceful (and heavily) farm animals who see it coming.
Humans rule the planet because of our ability to adapt and survive under difficult circumstances, this situation is no different. Use your head and think long term
Frankenpalin 2 years ago 2
jerni1, Your video title says "Banking and gold market breakdown ahead" Do you feel gold and precious metals will Break Down along with banking / US dollar? Based on other previous videos of yours I thought you were recommending that we should own gold/silver. Now it sounds like you are saying that gold is not a good thing to own. Why would one own silver as you suggest and not gold?
taineasy 2 years ago
I think what he means is the paper gold market will collapse. Physical gold/silver is what you should own.
snd977 2 years ago 7
This comment has received too many negative votes show
You missed it.
I don't drink coffee.
astoria3011 2 years ago
What happened to the October surprise you predicted?
whippoorwillss 2 years ago 2
Patience, grasshopper...all in good time.
Frankenpalin 2 years ago 2
Yeah, everything is fine in bizzarro world. lolol
lostinthemix 2 years ago
havent had any problems with getting money... only one time with a spanish bank account in kaixa, which didnt want to cash out a 1 year investment. other than that, funds seem to be flowing smoothly.
abualdiraja 2 years ago
You paranoid Kraut!
Kidding, kidding.
Lanparth 2 years ago
Are you the guy who got it totally wrong when claiming that DOW 2 would not include tyranids?
TheCZMan 2 years ago
Yes good sir! Yes I am! And proudly so! lol.
Lanparth 2 years ago
So much you banned me from your channel with others when we pointed it that out.
TheCZMan 2 years ago
And your point is?
Lanparth 2 years ago
Well they say, "There's always a calm before the storm."
I think you meant "now that fake terrorism has come," though. The proof its all fake is found in Newton's Third Law of Motion.
Happy New Year!
EvilUSAandthe911Lie 2 years ago
most are blind to what is going on s long as they have thier job at walmart and the cable tv still works. these are scarey times if you really know what is going on today.
cbr6864 2 years ago
@cbr6864 Agreed for the last few years at least.
edmack4me 2 years ago
The really scary thing is we only a very small amount of what's going on - the tip of the iceberg. Just think how much we'd know if they actually audited the Fed? There's a good reason they won't open the books.
gunnerrat 2 years ago 4
it's 1.40 pm in Canada (EST) and still no meltdown !!
I was able to get my $40 for lunch, from ATM !! so I was lucky !!
arka67 2 years ago
@arka67 Well, I guess your central bank prints faster than theGerman one ?
jberni1 2 years ago
with all due respect..... Canada did not print much... I agree that there is a big problem in USA with deficit. Where did you get $53 trillions ?? do you include cities and states ?? I have a problem with your "total collapse" it's just numbers are getting better, Oil is stable, Gold slowly is going down. 20 years ago we had 14% unemployment in Montreal, today we have 9.5 % ?? it just doesn't make sense !!
arka67 2 years ago
you really cant compare Montreal to the US. unemployment number mean nothing even if they were true.
unemployment is only they % of those who are unemployed who are seeking a job. it does not account for all those working part time, took a lower paying job, just stopped looking, or no longer get a unemployment check.
just based on what i see in real life i put the real number around 17-22%
cbr6864 2 years ago
keep taking the blue pills. I think they are working for you.
jonah70757 2 years ago 2
I always get the "pills" mixed up!
Is the blue one for "escaping" reality where everything is "nice"?
Damn, and to think..... I was just about to commit myself when the whole time it's all in a pill!
toddhawley 2 years ago
ha-ha !
DavidAKZ 2 years ago
This comment has received too many negative votes show
I'm enjoying my coffee. Thanks. And btw, you are an idiot!!! The crisis is long over. We will die a slow death.
tioslael 2 years ago
Crash it already! I want to get my licks in before I'm too old, course mabey that's also in their plans. The older you are the harder it is to retrain you into believing this NWO is a good thing
roughcutone2 2 years ago
Thanks, Great video with Excellent information.
dadcamp 2 years ago