Dubai - Fight for life boats started

[kristiankroflin]

Of course...for some nothing could be predicted .. especially for those who always just want to look at the details and the details of the details - and so on (usual rabbit-hole/rationalization which those use who can't accept that they're in the mess).

[Jacobrester]

I told people over 2 years ago that Dubai would be bankrupt in the near future......albeit the info was from experts....not myself.

I know the cycles and how they shall play out from 2008 forward. It is inevitable now.

[AfroedNinja]

I wish all their oil resources would run out! Maybe it will help us all progress in technology!

[Derukugi2]

Jberni:

Rettungsboote sind "life boats" auf Englisch, nicht "rescue boats".

Das ist etwas verwirrend für den nicht-deutschen Zuschauer...

[ProofCrash]

In today's video Schiff says that the markets overreacted and that the Dubai case is not a big thing at all. Said that people have been aware of the underlying problem for a long time. He also belittled the sum of $60 billion. I don't really know, we'll see...

[JivinforFun]

copycat! go to peter schiff and max keiser for the real thing

[petsatcom]

Thanks for the analysis

Ist is sehr gut.

Danka Jim

[oc5nsli341nforce4]

The ship is listing and is soon to capsize. Once the ship is on its side it wont remain floating for long.

[donna123123123]

You sound like you have a cold. Rest up.

[DavidAKZ]

yo !

[mcc11505]

Thanks for posting & allowing comments too. I liked your lifeboat metaphor. I often have a nightmare I am trapped on Titanic. I believe the James Cameron movie is a metaphor for the USA. The ship represents the machinery that is the USA. Bruce Ismay = Federal Reserve/AIPAC.

Capt Smith = Prez. Crew = bureaucrats. Iceberg= Legislation/budgets. Water = Federal Debt. Passengers = taxpayers. Rose = women. Jack = working class men. Band = MSM. XoX

[SolarAlchemy]

Couldn't be more accurate with that metaphor.

[Thunderwavia]

wow , right at the end I took my first sip of coffee, right when you said to enjoy your coffee, hehe, thanks for your info!

feed our minds!

[imigrantpunk]

or you can use google translate

[dojufitz]

Thanks JB.

[SamuraiCommando]

JBernator, do you think a defualt in Dubai will have an affect on CITIGROUP? They gave an 8bil loan to DUBAI after they were bailed out for 25bil by US taxpayers.

[SamuraiCommando]

Dude, you sound like the Governator.

[TheInvinciblePixel]

@SamuraiCommando they're cousins...

[moremost]

@SamuraiCommando suprise, suprise, they both learned German

[quixgofar]

Keep it going, Doc!

Get well soon from New York!

[ABETRMAN]

Five Stars*****

From Mississippi

GET WELL SOON

[creten69]

they have personel submarines in the gulf.

[1984noway]

great video your comments are always well balanced and informative

[Ape65]

If the chinese are smart, they'll buy Dubai and turn into into a naval base.

[DavidAKZ]

what and do some naval gazing ;-)

[fezz569]

thanks

[DEMCAD]

Dubai is like a burning playground. It has been a total circus and now the party's over.

[morocco4ever]

the party is not over yet abu dabi state will help dubai and dubai will raise again , you will see

[itsreallymeBruno]

wow, i didn't realize. can you say "apocalyse now" for me in german once, just for me, that would be ssooo sweet.

[goedeck1]

If you are in Utah, enjoy your Postum.

[ShillBasher]

Cut and pate the comments into BABLFISH for a reasonable translation of text into any language.

Enjoy : )

[halfasheep]

I find ridiculous that nations who simply pump oil (pump money) can get into these debt problems. Mind you, in a smarter world, no nation would be in debt.

[MsSumed]

Ich verstehe nur die Hälfte, liegt aber nicht an Ihrer Stimme sondern an meinen lausigen Englisch.

Gute Besserung.

[whiskerchild]

Let's see, you said (I think): 'I understand only half (of what you said), not because of your voice, but because of my lousy English'. Well, yr English isn't bad if you could write that.

[NibiruMagick2012]

thank you

[scottandildi]

Now you really sound like Arnold.

[PzKwVIII]

Ich komme wieder !!! > I`ll be back !!! watch?v=C8I4zFSipKs

[ShillBasher]

He'll be back!

[FuckinGuitarHero]

The arabs have a long history of defeat and embarrassments throughout time. This is just another chapter written at the behest of Goldman Sachs.

[pcuimac]

btw. this is part of the second and third wave LEAP2020 spoke of in may 2009. people default on their credit debt and commercial real estate developers defaulting on their loans.

I fear the rest will also come true in the next 2 years.

I wonder if Obama will understand what hit him in 2011?

[pcuimac]

Mad About Dubai ... They say a city in the desert lies The vanity of an ancient king But the city lies in broken pieces Where the wind howls and the vultures sing These are the works of bankers This is the sum of their ambition ... Sting - Mad About You / Soulcages (Leicht verändert ;) )

[Winst0nOBoogie]

To Buy or Not to Buy on Black Fri, in Dubai, Mumbai or Best Buy... that is the question. Weather 'tis nobler in our minds to let suffer these sheiks and sovereigns who squandered an outrageous fortune, Or to take-out a second ARM(s) and bail-out against a sea of debt-restructure...

[suzettespencer]

Hope u did not catch swine flu. Get well soon.

[emmazedbend]

I hope you feel better soon.

[Mr1openmind]

I see gold as the ONLY worldwide currency the average person can own.

Thank you for your shared knowledge!

[bammbamm12]

Strange ducks these sons of Luther. Profiting off the blood of others -- "you might think about ethical implications"? Wow. What convictions!

[Igentenos]

Once again, thanks for the update.

[Sundrumify]

Thanks for sharing.

Lisa from Munich

[fallingfool1234]

Dubai has very little oil reserves. The UAE has an estimated 98 billion barrels. Dubai has only 4 billion whilst Abu Dhabi has 92 billion and the rest is in the other emirates.

[jberni1]

Biggest reserves are in IRAN ....

[fallingfool1234]

Nothing to do with Iran....Dubai is part of the United Arab Emirates in which Abu Dhabi is too, who have the vast majority of reserves and pull all the major punches when oil comes into the question. Dubai borrowed massively to build a monstrosity (my opinion) and fools brought into it, just another property boom story. Also I thought Saudi had the biggest reserves.

Love the channel by the way, much appreciated.

[Repomex01]

You sound like the Terminator Doc!

[jsmythib]

Bermi as a baratone :) Thanks for the update.

[spasquier]

you should know there no oil in Dubai !! hehehe

[thirdcoastguy]

Thank you JB for this insightful video.

[January132005]

Please record with louder VOLUME. I cannot hear your videos. (my own volume is at maximum)

[jaybaybaker]

Timing is everything. I caution everyone to jump to final outcomes too quickly.

We have a minor debt crisis, but there is no panic.The financial system seems sounder than everybody thought at this point. There are no bank runs in Europe as you predicted a few days ago.

What will you say if the gold price corrects by 30% or more?

[ang60]

I will say bring it on, since I bought most of my gold in 1999 when it was around $250. What do you say to that?

[jetztisfeierabend]

@ang60 say nothing and enjoy :-)

[MosheFukoshawa]

Will you hold it all the way down to $250 again? My cycle analysis shows that there is a major bottom coming up. Just don't get hurt!

[pcuimac]

There are no foreseeable cycles and Eliot-wave analysis is like astrology.

[MosheFukoshawa]

My model has been spot on since 2003. Now it says we will go a little higher and then see a parabolic move down. As a gold bug, I just want to warn everyone.

[MosheFukoshawa]

You see, I warned you before it happened.

[redmolotail]

In other words there are more grains, than originally thought, in the hourglass that will eventually run out?

[Eraser7622]

Really? You're going to suggest that everything is fine fundamentally based on this one snapshot in time? What is your agenda jaybay? You've been proven wrong already this morning with gold and silver both recovering strongly proving, as if they had to, that PMs are NOT a bubble and CAN'T ever be a bubble because gold and silver are real MONEY. Gold is NOT in "week" (sic) hands, or weAk hands for that matter, it is in the strongest hands in the world. So, I ask again, what is your agenda?

[tomniemiller]

He said people are fighting for lifeboats. You are saying gold is one of those lifeboats.

[jberni1]

You want to prove someone wrong, go to CNBC -its much easier.

Now, Maybe you could not hear me:

1. I said volatile markets

2. It will take some time b4 the Dubai story gets real tracktion in the market. (Once the CDS and debt issues are settled)

[jaybaybaker]

@ jberni1

You will be right, I agree with your fundamental analysis. But before we see a dollar reversal first.

When and if the CDS part of the story sinks in, we will have a monetary contraction, and everything will go down against the dollar, including gold.

I know this is highly emotional for most (see responses to my post), but I only want to encourage debate.

What are the other lifeboats you propose, besides gold? I share your macro analysis, and would be interested in your ideas?

[peckiledorf]

give it some time dumb fuc$

[davincij15]

How sure are you that Oil prices will go down based on what? The need to sell more oil?

[Doenietmeermee]

since we have to predict graphics for gold I wrote down to bounce point when I woke up at 7.00 in the morning and gold was down -2% going to -4%. That was 1140 and 1085, below that I would aspect the price to fall to just below 1,000 as a complete failed attempt to rally the final rally, now it bounced back so well, perhaps does the same as yesterday, an even close, it looks to me as shake outs to get the small men out of the game, to wreck some nerves here and there, am I alone in this?

[jaybaybaker]

Gold is in week hands right now. If this rally does not come through, quite a few people will try to exit the gold marker, especially hedge funds. The uptrend has been broken, so gold is very dangerous right now.

[jaybaybaker]

... weak ...

[Doenietmeermee]

how do you conclude the trend is broken? I thought I described why I think it is not broken. I agree that when the shit hits the fan all assets will go to zero on paper when they are also traded in paper, and that we have to wait how many SDR we will get when the shit hits the fan, but I do not see this is it. I am more waiting for a moment like Eastern Europe will not be able to pay euro mortgages, not a false flag event, to me, as this. Dubai is Dubai, fraud is fraud, why is that surprising?

[ShillBasher]

jaybaybaker:

Gold trend has NOT broken, where on this earth did you get that idea??. Most stocks and markets fell after the Dubai news came out but NONE of them (to my knowledge) were in the bull rally that gold was in. A fallback is very healthy for the Gold market and allows for proffit taking and re-buying to occure. Get your head straight!.

[jaybaybaker]

Let's see Monday. Thanks for the insult though for sharing my thoughts.

[ShillBasher]

Agreed, insults are not helpfull.

I do think you've got it wrong and I was trying to help you understand where and why, but if that to you is an insult then I know to leave you to your internal thoughts. Nobody has a crystal ball and the markets are heavily rigged so anything is possible?.

[Doenietmeermee]

I am with you based on the same points

[EarmarkAudiology]

Dubai is a great example of pure greed. All the money they have generated from oil and now look at them.

[abc123gpl]

thx

[wdcsucks1]

coffee is good hmmm

[Silberhorter]

stocks down - usd up - gold down. Beta test for coming crash finished. So we know where the precious metal complex will go down the piper together with all assets and the USD will skyrocket. Thanks Dubai for beta test confirmation.

[InTheSticks1881]

We are in uncharted waters and PM is historically a safe haven, yet I prefer tangibles to get us through the worst of it..

[llothar68]

Dubais debts are also in US$, so there is no problem with this right now. They really don't even make enough money in $ to pay it back.

[stuntpea]

I'm glad someone else has said Britain is bankrupt. Not that I want it to be, but it seemed like I was the only one who believed so.

1pence on income tax raises roughly £1.5billion. And yet, UK is going in debt by £3billion per week.

[llothar68]

Ukraine is rescuing Dubai - ROTFL. They are broken themself, maybe just routing there IMF credits into the sheiks hands. Or more russian mafia money is coming...

[jamiedore]

Again, thank you for sharing your insights. Diolch yn fawr!

[ewffaces7]

Lindsey Williams told us.

[GovWillKillU]

after whats happening dubai, i dug up some old lindsey williams on alex jones. he did predict that they would bankrupt the arabs, so here we are in a way.

he calls for hyper inflation and a dollar collapse in 2 years.

[Stealth0031]

Great vid! ...On a positive note, you sound like Arnold Schwarzenegger. :)

[GovWillKillU]

wouldnt surpirse me if gold ticked green today..

unlikely.. but wouldnt surpirse me.

[justjacqueline2004]

Than you Dr.

Whilst washing the floors of oligarchs some friends who wash floors of UAEs have come across shocked.For the first time ever,the mistresses of their houses have spoke to them,some even nicely.Of course the girls knowing what is going on have demanded their wages in cash-which was okay for now.However a lot of packing and fleets of S-Class mercs all heading for private air fields have been leaving Knightsbridge,Chelsea,Mayfair and other areas.Any jobs for cleaners?

[florgat91]

gold is collapsing ... !

[MrZ421]

what is collapsing?

come on, try to stay cool, 5% loss in a few hours is in the gold/silver market as usual as 5%up.

right now we have 1.8% down, with markets open a few more hours...

[smasila]

Not really, gold is hold up well. Look at Silver, it's preforming really well under this crisis. The markets are tanking more as all the debt sitting around the world is starting to effect everything.

[LysSpooner]

down $50 then up $40

[oldmrelics]

I'll take another cup, ma'am! There, I'm ready to watch the drama unfold. Thanks for the true update about Dubai. Seems like a fool and his money is quickly seperated just occured. Look at the number of fools invovled here! It'll be interesting how this tsunami hits the financial markets around the world. I wonder how many people had money tied up in Dubai? The lifeboats are going to get swamped and with sharks in the water as well - OUCH, now that's a SPANKING!!!

Thanks for posting!

[palex9]

hello again... when you have some time it would be an interesting topic if you could explain exactly the difference between a UNITED STATES NOTE, issued briefly by kennedy and the FEDERAL RESERVE NOTE. maybe he stepped on too many toes when he started messing with the the u.s. money elite that actually cost him his life....

[palex9]

hey bernie, nice job with your videos. i just visited friends in europe (austria) and most there are MUCH MORE ignorant on what is happening and about to happen. almost like they dont want anybody to be a destroyer of illusions, so i did not make myself very popular hahaaa.

[iloveterriers]

LMAO. I don't know if I should find that funny, but it is . . . the "destroyer of illusions" comment that is. I have encountered that feeling before so understand what you mean.

[ShillBasher]

palex9:

It's caused by cognitive dissonance, get used to it.. most of the western world suffers from this syndrome. I have noticed some glimers of re-cognition in a couple of close friends and family recently, but that's after 3 years of them thinking I'm a complete fruitcake.

[jfv65]

Well said, sir!

[JOHNNYH8STHENWO]

Thank you Dr.

[CoinsFreedom]

Interesting times and your comments go well with coffee! Soon we may be drinking coffee by the campfire.

[143DREWID]

Correct, and thank you.

coffee here is great

[cbr6864]

i was waiting for you to talk about this. mainstream tried to play it off like its no big deal

[GovWillKillU]

hmm. didnt Lindsey Williams on alex jones predict this about 6 months ago?

[skybirdbird]

so does the fun start now?

[CTOL1]

The rich will need to become bakers

I'm on my 2nd cup of coffee ;>)

[SolitonPL]

Good update!

[StandUp555]

Griffin's Jekyll Island ... the US FED pumps and dumps Gold and Oilin a game to rob the Arab world of it's riches.

Jon Perkins . Eco Hit Man ... classic case of a state indebting itself in US$ ( which US Cos. took with them after buildingthe place ) and then losing everything.

Like the IMF/WB does with the 3rd. world.

[He101A]

If the dollar is going to rise, wouldn't it be wise to sell most of your precious metals and buy it back again?

[jberni1]

It would be very much what other people want you to do

[kricke243]

Why not keep what you have and just buy more? Physical, that is.

1 troy ounce will be 1 troy ounce what ever happens (and paper is just paper). :-)

[florgat91]

good point - we could see gold tank to around $900 .. sell now and buy later !

[DavidAKZ]

yes, psychologically it's an interesting game of Chicken

[LysSpooner]

you better be nimble

[GovWillKillU]

women and children first!

[jberni1]

First class passengers first ! (no?)

[senses2000]

Gold was racing up and Dubai announced it need more time to pay their debt? Control of the run-up of Gold. That's what it is.

[jberni1]

No, Gold will very fast skyrocket to 2500, so that it becomes unattractive as Alternative for the average joe

[myeyepie]

Is that when silver will start closing the gap with gold from 64/1 to 16/1? Or do you think it will close the gap incrementally as Gold rises?

[Eraser7622]

I think once gold starts its formal breakout (ie when we start to see rises of 50+ dollars in a trading session) we will start to see silver in play. Silver made a very strong recovery in the last 24 hours and this is VERY bullish from a technical standpoint.. and because we know the fundamentals are already super bullish, it is now only a matter of time, literally.

[fal2grace]

Thanks for your insight on this Dr. B!

[BackBurnerNews]

Thanks!