Jay Taylor: Fed Leading Us Into Global Insolvency
By Anthony Wile - December 20, 2015

Introduction: Jay Taylor is the editor of J Taylor's Gold, Energy & Technology Stocks newsletter. Throughout his career, Mr. Taylor worked as first a commercial and then as an investment banker. Most recently, he worked in the mining and metals group of ING Barings in New York. Prior to that he was involved in the first gold loan made in modern times in the U.S. to Amax Minerals, a 250,000 oz. loan facility led by Citicorp. In 1997 he resigned from ING Barings to devote himself full time to researching mining and technology stocks, writing about them in his newsletter, and assisting companies in raising venture capital. Jay Taylor's web-based radio show, "Turning Hard Times into Good Times," can be heard live on the Voice America Business channel Tuesdays between 3:00 and 4:00 PM and can be downloaded the following day at JayTaylorMedia.com. Jay's guests have included, for instance, Jimmy Rogers, David Stockman, Ron Paul, Marc Faber, Doug Casey, Eric Sprott, John Hathaway, Edward Griffin, Howard Davidowitz, Ian McAvity, James Turk, Mish Shedlock, Richard Maybury, Rick Rule, Robert Prechter and Lewis Lehrman, to name a few. He is joined weekly on podcast discussion with Daniel McAdams of the Ron Paul Institute for Peace and Prosperity in "A Foreign Policy Week in Review with Daniel McAdams" and also weekly with David Jensen on "A Fundamental Look at the Gold Markets with David Jensen."

Anthony Wile: Hi, Jay. Thanks for sitting down with us. Let's jump in with the big news. What do you think of Ms. Yellen's rate hike? Good idea? Why now?

Jay Taylor: Any move by the Fed toward free market rates are a good idea. Of course, the Fed should never have hindered the market from price discovery for capital in the first place. In my view, they have created so much economic damage by nine years of interest rate manipulation that it will take generations to overcome. And even then, recovery would occur only under the assumption that free markets would be allowed to exist.

I wished I could believe the hike was a move toward free markets. But, in fact, I believe the Fed has raised rates only so it has some wiggle room to manipulate them downward again, if and when in its self-proclaimed omniscience it deems it prudent to do so. But I think the Fed is also facing the risk of losing its credibility, even to gullible Wall Street sheeple who tend to believe everything they are told by elite financiers whose role is mostly to appear as constant propaganda props on CNBC and Bloomberg.

Anthony Wile: Is the U.S. economy really improving? Is it in recovery?

Jay Taylor: I see few signs of recovery in the real U.S. economy or in the global economy, for that matter. The number of employed people in the U.S. continues to drop. Even Larry Summers is concerned that the employment rate not only for black males but also white males between the ages of 25 and 54 continues to decline while it continues to rise for retirees because they can't afford to quit working. If the number of employed workers were related to demographics, you would think men would not be extending their working days. A glut of commodities on the world markets suggests we are in a depression, as do various shipping indexes, which are at historical lows.

Oil supplies are building up to the extent that according to a Zero Hedge report, three oil tankers heading from Houston to Europe have made a U-turn in the middle of the Atlantic Ocean and are heading back to the U.S. simply because there is no storage space for oil in Europe. That's how pitifully weak demand is for oil in Europe as prices continue to plummet downward. I look at a picture of monetary velocity as measured by M2 Money supply. It continues to plummet as Americans struggle to pay for the basic essentials of life, namely food and shelter.

Now, if the U.S. is such a beacon of economic health, why are our two largest trading partners unable to sell their products to the US? The Fed and the Obama administration can find a statistic here and there to try to spin a lie. But there is no reason to believe their propaganda. Also, I would like to mention my Inflation/Deflation Watch (IDW), which represents a wide range of the most important commodities and a broad representation of the global equity markets and major sectors like the auto and home building sectors. What is astounding is that despite trillions of dollars of money printing, my IDW, which was started on Jan. 31, 2005, has now plunged below the 3-year and 5-year average. This suggests to me that the next leg of the global depression that stated with the 2008-09 collapse is now underway. This is downright frightening to me.

Anthony Wile: Is recovery just another term for broad-based asset bubble?

Jay Taylor: Yes. That is all there is to our so-called recovery. Asset bubbles are being blown for the bank shareholders of the Federal Reserve Bank and the Wall Street elite. Money is pumped into the banking system and is thus available for hedge funds and quants to use it like gambling chips that they pay nothing for.

Interestingly, last week I spoke to a trader at a New York Hedge fund who shall go unnamed. He said their average hold period was approximately two hours. The hedge fund manager is extremely well known and he no doubt can be counted within the top 1/10th of 1% of the American population. For this elite group of people, times have never been better. But for the vast majority of Americans we are being relegated to serfdom.

For a brief period of our history we escaped that, while a great amount of free markets were permitted, thanks to our Founding Fathers who understood that we are endowed by our Creator with unalienable rights, not by government. Unfortunately, the U.S. is giving all that was gained in 1776 back to the descendents of some of the same ruling elite who were the powers behind the British throne in 1776.

Anthony Wile: Would you buy stocks right now? Where is the market headed?

Jay Taylor: I have never been so frightened as I am now about the stock market in general because prices have so little to do with real earnings. A major amount of strength in the equity markets has resulted from debt funded stock buy-backs, thus levitating stock indexes. Even so, as we end 2015 the vast majority of stocks are down for the year with just a handful of issues like Google, Amazon, Facebook and Netflix holding up the averages. Michael Oliver, a seasoned technical analyst who I frequently have on my radio show, says his momentum structural models are showing these stocks as measured in an ETF group, namely PNQI, are starting to break down. He believes that when/if this sector breaks down it will set off a major bear market in the equity markets.

Anthony Wile: Is the Fed really worried about price inflation?

Jay Taylor: They are worried about inflation not being high enough, which is ridiculous. What I think they are missing is that the more money they create the more they destroy capitalism by sending false signals to the market about where capital should be allocated. And so every incremental dollar printed results in less income even as total debt is now growing exponentially. The result is that this Keynesian false theory is leading into a deeper and deeper global insolvency. It's a little like someone struggling in quicksand. The more they struggle the faster they sink.

Anthony Wile: Should they be worried about a deflationary depression?

Jay Taylor: They definitely should be worried about deflation because that is exactly what they have. But as I just noted, they think creating more debt based money will bail them out of this deflationary funk. In fact, just the opposite is true.

Anthony Wile: Are there other reasons for this hike now that we are not hearing about?

Jay Taylor: Yes, I think so. In addition to having some firepower for future rate decreases and to try to maintain some credibility, I think the preservation of the petrodollar is a main concern. Both China and Russia have not tried to hide their hatred for the petrodollar, which has enabled the U.S. to engage in systematic theft of global resources. The Chinese and Russians have been dis-hoarders of the dollar and have been piling into gold. Reportedly, the Russians have been building their gold stockpile as they sell their oil to China not for dollars but for gold. The BRICS are systematically setting up their own banking system to compete with the petrodollar system that has been the heart of the Anglo-American and NATO world post World War II. So raising rates has the effect of making the dollar somewhat more desirable vis-a-vis the even more pathetic global currencies.

Anthony Wile: Overall, has the Fed been doing a good job managing the economy? Can the Fed manage the economy?

Jay Taylor: The idea that a group of people can better manage markets than the collective and spontaneous wisdom of millions of market participants is as ridiculous as believing in the tooth fairy. Why in the world have we not learned anything from the experience of the Soviet Union? Not only has the Fed not been doing a good job, they have been systematically destroying capitalism by disallowing price discovery of capital. Not only that but they have been involved in bailing out criminal banks that lied and stole during the housing bubble. Not only is the Fed a complete failure in terms of doing what it is supposed to do, it is also a criminal organization made legal by criminal politicians.

Anthony Wile: What's your impression of Janet Yellen? Is she in charge? Are others?

Jay Taylor: The shareholders of the Fed – the money center banks are in charge. She, like the president of the U.S., is merely a well-indoctrinated puppet.

Anthony Wile: What's your impression of the Fed these days? Is it losing credibility? Is it damaged in the eyes of the public?

Jay Taylor: Of course, in my eyes and in the eyes of most Austrian economic thinkers, the Fed has been losing its credibility for years. It was created supposedly to reduce the business cycle. But history shows, starting with the Great Depression, that they have only served to exacerbate the business cycle by creating endless bubbles. Not only that; they have destroyed the purchasing power of the U.S. dollar by something like 97% since the Fed's birth in 1913. The only question remaining is how long will it take before Pinocchio's nose is so long that the whole world sees it as the fraud that it is?

Anthony Wile: Do you think the Fed ought to be audited? Why?

Jay Taylor: Of course it should be audited or, better yet, done away with completely and let the markets decide what real money is. The Fed should be audited so that people can see the criminal games it is playing and in the process redistributing wealth from those that produce it to those that control it, namely the Fed's shareholders and the politicians in bed with them.

Anthony Wile: Is there gold in Fort Knox? Where did it go?

Jay Taylor: I doubt it. But the real answer is that only those who have the keys to Ft. Knox know for sure. Even if there is gold there, who owns it is another question that is not being answered. I think many more people began to ask that question when the U.S. was unable to deliver gold to Germany upon that ally's request.

Anthony Wile: Is the Fed in an end game? Is it going to turn into something else? Or is the government going to run it?

Jay Taylor: The fed owns and runs the government, not the other way around. We should know that from what happened to John Kennedy who shortly after issuing Executive Order 11110 was murdered. F. William Engdahl, whom I frequently have on my radio show, has provided powerful evidence that Kennedy as well as Lincoln challenged the model of a privately owned central bank – and that ended their lives prematurely.

For those who may not be aware, in the case of Kennedy, Executive Order 11110 gave the right to create money backed by silver to the U.S. Congress, as the Constitution requires. In the case of Lincoln, his lack of cooperation in allowing a private central bank to control the monetary system by backing the Greenback with gold as the London and New York Bankers wished proved a fatal problem. The bankers seek to rule the world and the growing geopolitical fight now between the NATO countries and the BRICS is, in my view, a grand final battle to see who rules the world.

Anthony Wile: Is it always necessary that someone rule the world?

Jay Taylor: It's a horrible idea, if you believe what the Declaration of Independence proclaimed, namely that we (each of us) are endowed by our Creator with certain inalienable rights to life, liberty and happiness. In fact, the more power that is granted to these elite dictators, the more chaos, dangers and poverty the world faces. Unless you are some sort of satanic madman, you have to think Fed control is a horrible idea.

Anthony Wile: What do you think of a guaranteed national income?

Jay Taylor: It's a pretentious lie. Income can't even be measured, let along guaranteed.

Anthony Wile: The Swiss are considering one. Is it the wave of the future?

Jay Taylor: It wouldn't surprise me if it is. The more intervention that occurs, the more chaos and poverty that result and the more intervention we get because there is a complete ignorance of the relationship between freedom, prosperity and happiness.

Anthony Wile: What's wrong with the Swiss? Is Swiss confidentiality over? Is the Swiss private banking system finished?

Jay Taylor: Most of the older Swiss have died off. The younger ones have been drinking the Kool-Aid of a western godless propaganda.

Anthony Wile: What's going on with the EU? They are printing while the Fed is tightening. Why?

Jay Taylor: For a while, the Germans, who fear hyperinflation for historical reasons, prevailed in their understanding you can't print your way out of trouble. But, of course, Europe has engaged in all sorts of socialist interventions over the years. The Europeans are, in fact, controlled still by the victors of WWII – and thus Germany is controlled by the Anglosphere. They have no choice but to buy the propaganda of the U.S. and the Fabian socialists out of London, of which Keynes was a prized member. They believe in the same lies. They do the same things to the economy and the markets.

Anthony Wile: The Fed is out of step with other central banks. Why?

Jay Taylor: As noted above, I think in part it is to keep the dollar as the largest and most dominant world's reserve currency. A "strong" dollar makes it more difficult to opt for alternatives. So raising rates while Europe continues to debase the euro helps keep the dollar relatively strong and the petrodollar system in place. This may, in fact, be especially important given weak oil prices. With Russia picking up more of the global market share for oil, and with the price of oil 1/3 of where it had been, the demand for dollars is significantly less than it otherwise would be. Rising rates would help keep demand for the dollar and thus the current dollar regime in place.

Anthony Wile: Where does Asia fit into the world's economy? Are Asian economies getting better or worse?

Jay Taylor: They are all getting worse because they are all more or less destroying capitalism by controlling markets starting with the most important of all, the market for money.

Anthony Wile: How about China? Where do you stand on China?

Jay Taylor: I have never believed in the view that China is turning capitalist, though out of necessity, it has had to loosen the reins of dictatorial control over the economy or else the whole country would become one pathetic, poverty-stricken hellhole. But their leaders are no different than those at the Federal Reserve and most of our elected officials. They are dictators who, like our own ruling elite, do not believe in the values of the sanctity of the individual, as the American Founding Fathers did. So while China may have made some modest moves toward economic liberty, the direction is not toward the kind of free-market libertarian environment that would make me optimistic about that country's future.

Anthony Wile: Let's talk about commodities. They seem to be in retreat, especially oil.

Jay Taylor: We had a bubble in commodities that was created by massive money creation following the 2008-09 disaster. The air was let out of that bubble I believe when the major money center banks decided to trash gold and strengthen the dollar in 2011.

I do not think it is a coincidence that the price of gold peaked just about the same time that Standard and Poor's downgraded U.S. Treasury debt in 2011. By slamming gold down in the paper markets, it created the big lie that the dollar was better than gold and that set the stage for pricking the commodity bubble. At this point in time, the risk, in my view, is not so much in commodities because the air has been largely if not entirely let out of the commodity bubble. But we have massive amounts of air in the debt and equity markets. These will have to deflate. The canary in the coalmine is the junk bond markets that now has interest rates close to their heights at the time of the 2008-09 financial crisis.

Anthony Wile: What about gold and silver – a positive story here?

Jay Taylor: Gold and silver represent pure wealth that cannot be destroyed by market manipulation. The paper price for these metals can be manipulated downward but the value itself cannot be destroyed in the long term.

Anthony Wile: Give us a sense of the war on terror? Can we expect more attacks? What about on the U.S. homeland?

Jay Taylor: As Ron Paul said quite correctly with regard to 9/11, "The reason they came over here is because we are over there!" So as long as the American empire continues killing foreigners with our bombs and as long as our NGOs involve themselves in the covert overthrowing of elected governments, as they are trying to do even now in Syria and did in the Ukraine, we will be open to more attacks. As the global economy continues to weaken, causing the U.S. government to become ever more aggressive overseas, I think we can expect an escalation of terror in America itself.

Anthony Wile: What will be the result?

Jay Taylor: Only God knows. I take comfort as a Christian in leaving it in His hands with the knowledge that beyond our comprehension, there is something much better than the best of America's history to look forward to.

Anthony Wile: Any political predictions?

Jay Taylor: As long as our leaders look to the brilliance of men instead of God as our Founding Fathers did, things will continue to spiral downward. Never has it been more timely than now to love those close to you and to make peace with your neighbors as well as learn life saving skills that provide for the most basic of human needs because when our very complex global system breaks down, going back to the basics may be all that will preserve us.

Anthony Wile: We face a troubled world. What advice do you have for those of us who wish to survive it with our families?

Jay Taylor: I think I answered it in the previous two questions. Start with the basic questions asked by humans since the beginning of time. Why am I here? What is life all about? How can I best take care of myself and my loved ones?

Anthony Wile: Would you emigrate? Buy a farm? Give us a survival recipe.

Jay Taylor: I don't know of any country into which I would want to emigrate so I'm staying in America for better or worse. Buying a farm or at least a property in a more rural setting where a garden could be raised would be a good idea, except in my case, my wife is a city person. In general, build some basic life-sustaining skill that can be bartered for your own basic needs.

Anthony Wile: Any other thoughts?

Jay Taylor: I think I have covered most of them. Thank you for the interview.

After Thoughts

Thanks to Jay for doing this interview. He hits many high points that we often emphasize in our articles and where we might diverge from his perspective has to do with globalist competition. Jay believes there is a divide between East and West but we are not so sure. After all, we recall the acronym BRICs was coined by a Goldman Sachs banker and much of the financial infrastructure of the BRICs is derived from Western models.

Brazil has always been in the US's backyard and we have a hard time believing that the U.S. does not exercise considerable sway over the topmost Brazilian establishment. The Chinese "miracle" has been built to a great degree with Western funds. Western powers traded debt for Japanese goods in the '80s before utilizing the same paradigm with China. Doesn't seem to be much difference between the two countries in terms of how the West relates financially.

Even when it comes to Russia, we would tend to believe that Western and near-Asian power structures were aligned. Putin's rise to power came during a time when the U.S. exercised tremendous influence over Russia and Putin rose from an obscure post to his current position in only two years' time.

We are more inclined to believe that there are powerful influencers around the world who seek ever-closer global coordination. In other words, we would tend to believe goals are aligned. A single currency, a world government, a judiciary system that sorts out the privileges of the corporate world and "national" governments – all of this is part of what is emerging in the 21st century via such protocols as the Trans Pacific Partnership "trade treaty" that apparently elevates multinationals to the status of nation-states.

Jay touches on solutions that we often suggest such as gold and silver, farmland and even modest elements of self-sufficiency such as a truck garden. We often overlook spiritual aspects but the ability to be at peace with oneself and others is certainly a vital part of creating and retaining the energy necessary to confront the emerging challenges of the 21st century.

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  • timothy price

    “… except in my case, my wife is a city person.” LOL, bet you are going to miss her.:-)

  • FauxScienceSlayer

    “The Creature for Jekyll Island” by G Edward Griffin has the history of ‘fractional reserve banking’ and the Feral Reserve, based in part on

    “None Dare Call it Treason” by Anthony Sutton, member of the Wiki/Reece_Commission on UnAmerican activities by plutocrat foundations,

    see “The Collectivist Conspiracy” on youtube, an interview of Sutton by Griffin. Find and share Truth….it is your duty as an Earthling.

    • Sam Fox

      There was a follow up to None Dare Call it Treason, but the tile escapes me ATM. I did a brief search but all I got was NDCIT, but nopt the follow up.

      • mutonic2db

        Sam, it’s called “None Dare Call it Treason, 25 Years Later”.
        ISBN 0-914053-10-8
        BTW They’re both written by John A. Stormer, or is that a pseudonym?

        Very good books both!

  • FalconMoose

    Outstanding interview and analysis (After Thoughts). Thank you.

  • Danny B

    This is a good interview but, I think that it leaves out one major aspect / sector; SURVIVAL. The State may very well conduct all these machinations for profit and control but, at the end of the day, survival of the STATE is paramount. There have been a lot of revolutions. Nobody wants to end up like Mussolini. There are thousands of protests every day in China. So, while the State may follow a crony-capitalist agenda, it has to avoid revolution.
    Globalism may very well be the desired end-point with a one-world currency, court, etc.
    BUT, globalism brings a single price for oil, labor, commodities, money, etc. What happens to oil producers when Iran floods the world with $ 20 oil? If the lowest-cost producer always gets the business, many economies will perpetually crash. The same is true for labor markets. A rich State can’t reasonable be expected to keep the peace if everyone is impoverished working at the global mean wage.
    As automation and wage competition slide the economy ever-lower, the States are going to be increasingly overcome by poverty. Regardless of global accords, the individual States will do what they must to avoid revolution.
    India has abrogated a WTO agreement that would have caused a lot of unrest. This will continue as States try to avoid revolution.

    • MetaCynic

      I think you’ve narrated a credible scenario why centralization tendencies will fall apart long before a global, one world government can ever be cobbled together. Of course, that doesn’t mean that the powers that be won’t conspire mightily and at great cost to civilization to reach that impossible goal.

      An anarcho-capitalist system based on the nonaggression principle would be decentralist by its very nature as entry into business would not be forcibly hindered by statist controls designed to protect established interests from competition. A statist system, on the other hand, by its very nature seeks to concentrate evermore money and power in fewer hands. Along with centralization of money and power will come coercive central planning and price fixing. As von Mises has argued, and the catastrophic Soviet experiment has dramatically demonstrated, central planning of all sorts must fail in its stated objectives, because freely fluctuating prices are necessary to rationally allocate resources, and profits and losses provide information as to how well customers’ needs are being satisfied. With resources directed by planners, profits taxed away and losses subsidized by the state, chaos and very likely war would undo things long before the power of the gun in the hands of the one world government planners can bring about their fantasy utopia.

      A one world government is an impossibility akin to a 50′ tall man. As a human increases in size and weight the loads and stresses on his bones increase much faster than the increase in the strength of the bones. The stresses on a 50′ tall human’s skeleton would be proportionally about eight times greater than on a 6′ tall man. Of course the wretched creature would collapse in a broken heap long before reaching that mythical size.

  • Dimitri Ledkovsky

    “Why in the world have we not learned anything from the experience of the Soviet Union?” – Because that’s not in The 1913 Playbook. The Game is Eurasia v. Oceania as outlined by the Fabians et al. This match will be over only when all participants go home to cultivate their own gardens and turn to the “overlooked spiritual aspects” of human existence. Thanks DB for giving these aspects an honorable mention.

  • Gerold

    Excellent commentary with Jay Taylor. I don’t often follow Jay, but he nailed it with this one.

  • Roy

    37,000 oil tankers?

    • FalconMoose

      I thought about that one too. ??????

    • MetaCynic

      Sounds like someone misplaced a decimal point!

      • Indeed. Corrected now. Thanks for pointing it out.

        The article at ZeroHedge is here: http://www.zerohedge.com/news/2015-11-12/something-very-strange-taking-place-coast-galveston. …
        “At least three 37,000 tonne tankers – Vendome Street, Atlantic Star and Atlantic Titan – have made U-turns in the Atlantic ocean in recent days and are now heading back west,” Reuters reported, citing its own tracking data.” (Reuters: http://www.reuters.com/article/europe-diesel-idUSL8N1443F420151215)

        … While the crude oil tanker backlog in Houston reaches an almost unprecedented 39 (with combined capacity of 28.4 million barrels), as The FT reports that from China to the Gulf of Mexico, the growing flotilla of stationary supertankers is evidence that the oil price crash may still have further to run, as more than 100m barrels of crude oil and heavy fuels are being held on ships at sea (as the year-long supply glut fills up available storage on land). The storage problems are so severe in fact, that traders asking ships to go slow, and that is where we see something very strange occurring off the coast near Galveston, TX.

        FT reports that “the amount of oil at sea is at least double the levels of earlier this year and is equivalent to more than a day of global oil supply. The numbers of vessels has been compiled by the Financial Times from satellite tracking data and industry sources.”

        • Sam Fox

          Daily Bell, well, at least we can see that oil hasn’t peaked & we are not running out of it. 🙂
          Anyone ever done any research —
          The Myth of Fossil Fuels
          The Myth of Peak Oil
          Ever wonder what is was/is that has made Russia a major global oil player? In the 1950’s Stalin commissioned …ahh, best if you all look it up for yourselves. 🙂

          • You can read our articles referring to abiotic oil if you wish.

  • autonomous

    When Adam and Eve decided to rebel against God by internalizing the discovery of good and evil, they began the long process of running their lives without the guidance of the only one who knows what is good, and should be pursued, and what is wrong, and should be avoided. There is nothing we can do to survive and prosper without the protection and the guidance of God. God tried for 4,000 years to send messengers to us to warn us and we did not listen. Two thousand years ago, he came in person to tell us, but we killed him. He rose from the grave and went back to his heavenly home, and told the few people who believed him to tell us that this world is doomed, and that our only salvation is in believing in Him. Even His messengers soon abandoned the message and sought, instead, to rule the world themselves and to enrich themselves in the process.

    This world is devolving, and will continue to devolve. Our only hope is to emigrate to God’s kingdom by faith in Jesus. His kingdom is not of this world. As many as will receive Him to them he will give the authority to become His children.

    • real427 man

      Thats a lot of double talk, God must want us as we are as he made us. He sent his son to die as he must have known that would happen. So you think god is not so smart?

      • Sam Fox

        real427, that is not correct. According to the Book, we are no longer as He made us. Humanity was changed, according to the Book, at the garden of Eden. His Son died so we could start to be restored to what He had in mind in the 1st place. Only now, because of His Son, those who follow Him will be in an even better place.
        You are correct in that “He must have known”. He did know. His Son knew. Yet in an astounding act of love, His Son STILL came & died so we could be ‘re-purchased’ by God, so to speak.
        I am not outside looking in. I personally experienced His love & forgiveness.

        • dauden

          The fullness of the gospel that saves today, again, revealed first to Paul, is the death, burial, and resurrection of Jesus Christ with this purpose in mind:

          Ephesians 1:9-10King James Version (KJV)
          9 Having made known unto us the mystery of his will, according to his good pleasure which he hath purposed in himself:
          10 That in the dispensation of the fullness of times he might gather together in one all things in Christ, both which are in heaven, and which are on earth; even in him: 11In
          whom also we have obtained an inheritance, being predestinated
          according to the purpose of him who worketh all things after the counsel
          of his own will: 12That we should be to the praise of his glory, who first trusted in Christ. 13In
          whom ye also [trusted], after that ye heard the word of truth, the
          gospel of your salvation: in whom also after that ye believed, ye were
          sealed with that holy Spirit of promise, 14Which is the earnest of our inheritance until the redemption of the purchased possession, unto the praise of his glory.

    • Sam Fox

      auto, good points & thoughts. I would insert however, that it was not HIS messengers who sought to rule the world ect. It was the first anti-Christs who did that. ‘Anti-Christ’ defined as opposing Christ in the guise of Christ. Those who are true messengers of Christ know better, as they would know that giving in to Elohim’s arch enemy is short sighted & a VERY bad deal. 🙂
      Yeshua prophesied that false witnesses would arise. Paul gave the same warning.

      • dauden

        Spot on, Sam! I would add that God is NOT working through Israel today. They are in unbelief. He is working in and through his body, the church, composed of believers in the gospel of the grace of God that was first revealed to Paul in a mystery, kept secret since the world began (otherwise his crucifiction may have been averted by his enemy who would have known the purpose of Christ dying). We have peace with God now by the cross……without works (the commandments)! I must add that good works will follow once we apply ourselves to studying the Word of Truth ( the King James Bible, rightly divided).

        • Sam Fox

          dauden, I agree. Israel has been replaced by their Messiah. Father is now working through Him as head of the body & church as Yeshua works through His people. .
          Hope to not offend, but I like the Amplified much better than the KJ. I won’t throw the KJ out of my small library though. It was the version I ‘broke in’ on. No dis to the KJ, I just find the Amplified to be more extensive translation.
          So we don’t get a ‘religious’ thread going, can we talk via PM from here? I am new here & do not want to violate any DB policy. It took me about 6 months or longer to get on & I don’t wanna mess up. 🙂 If not the mods can send you my EM address.

          • We do not share or send addresses. And there is no difficulty “getting on” to either http://www.thedailybell.com or these comments. It is certainly not a closed, invite-only group. Thank you for ending the religious thread, in keeping with our comment to dauden earlier.

          • dauden

            Sam, email me at debra@biga.com for my reply. Not sure where you find “Messiah” replacing Israel. That’s not in my Bible.

    • James Clander

      Obviously you still believe in fairy tales — – life will be tough a lthough I see you’re not alone.

      • autonomous

        I believe that it is very clear that this world is doomed. That would not be a very good fairy tale.

    • dauden

      Quite literally, His “kingdom” is of this world, if you study Scripture and rightly divide the prophetic program from the revelation of the mystery program given by Christ (from Heaven) to the Apostle Paul. In the last 2000 years since the Ascension, we have been living in God’s grace that all men, Jew and Gentile, could be saved by trusting in the finished work at the cross, which was a secret since the world began (Romans 16:25, KJV). Everything concerning this earth was foretold by prophets that God would one day literally restore the earth as it was in the beginning. Shortly after, by man failing to believe God it brought condemnation to the world and henceforth judgement. God revealed His righteousness by creating a nation with his laws in it but they failed (as was foretold) and suffered as a consequence by losing their status with God and falling. Today’s grace dispensation will end, those who have trusted in the gospel of the grace of God will find themselves literally in Heavenly places and then in the “ages to come” as seen in Hebrews thru Revelation will find the earth re-shaped to constitute the authority of its Creator once and forever in the person of Jesus Christ as King of a nation called Israel in fulfillment of all that was written since the beginning of time. God’s laws will be re-instituted and the nations of the earth will follow them.

      What better hope do we have today than by trusting in the gospel given to Paul (I Cor 15:1-4 KJV) and freely given to the world. We have peace with God now, his Holy Spirit seals us and His Word of Truth (King James Bible) preserved to grow in knowledge of what He has done, is doing and will do! We can prepare as wise men do but we can also have the hope of salvation when things out of our control take place. Romans through Philemon are the doctrine for the church today (though of course all 66 books are inspired and profitable, etc). Christians must study their bible, rightly divided, to understand the manifold wisdom of God!

  • apberusdisvet

    My only argument with an otherwise excellent interview is the fact that Taylor, in spite of a wealth of evidence to the contrary, apparently still believes in the USG’s 9/11 story namely, that a group of foreigners we bombed came over here for revenge.

    • Sam Fox

      apberusdisvet, have you ever done any research on blowback & why we had 9-11?

      • Sam Fox, have you ever read The Daily Bell?

        • Sam Fox

          Not until I was able to sign up. I had tried for some months to read articles that were posted from DB at Freedom’s Phoenix, but could not get it to open from FP. I even tried doing a web search, same results. I thought that maybe some one some where didn’t want me on here to read your articles.
          I was finally able to get on from FP the day I signed up. I figured, ahh heck! it’s no use, but I gave it one more shot & here I is! 🙂 I like the site & hope I didn’t offend anyone. I am a Ron Paul kinda person & like Rand Paul for prez.
          I was asking apberusdisvet the Q you responded to as it looked like from his post that he had didn’t know much about blowback.
          I take it DB has some archived article’s I can peruse?
          Thank you for getting in touch with me with your Q. Makes me feel good. 🙂

    • Danny B

      Cantor-Fitsgerald had previously been caught selling bogus treasury bonds. Sadly, the evidence was destroyed when the hologram hit directly on their floor of the WTC. By good fortune, their CEO didn’t show up for work that day. In WTC7, we had records of all bank manipulations that documented every
      event back to 1990, and when the Pentagon was hit the room with all the
      documents to verify the missing $2 trillion was destroyed. http://www.armstrongeconomics.com/archives/40242
      All 3 buildings that were destroyed held evidence of bank fraud. Additionally, the turmoil allowed the biggest bank heist in history. First, there were the fraudulent bonds; http://www.wanttoknow.info/911/black_eagle_trust_fund Then, there was the gold; https://911justicehalifax.wordpress.com/2012/09/16/wtc-9-11-biggest-gold-heist-in-history/

  • MetaCynic

    From what I’ve been reading, the Fed’s QE’s have created a dual economy. The monetary base has been perhaps tripled since the Great Recession. Yet instead of flowing into the general economy, getting further multiplied by fractional reserve banking and causing massive consumer price inflation and main street investment distortions, this new money has been largely confined to the financial sector to be massaged into all kinds of esoteric, speculative financial assets. We’ve, therefore, seen substantial price inflation in the assets that attract and make the rich. Stocks and bonds and all their derivatives have soared in price, so have the prices of consumer goods such as condos, mansions, yachts, artworks and sport cars favored by the rich. Ordinary Americans have by design been left out of this wild party.

    Could it be that, having been largely untouched by the Fed’s manic QE’s, the economy of the everyday world of Main Street America is slowly healing as excesses in that economy have been wrung out since 2008, and it hasn’t been nearly as contaminated and distorted by the Fed’s new money as has the economy of the rich? There is much anger that the Fed’s wild credit creation since 2008 hasn’t benefitted Main Street America nearly as much as it has benefitted Wall Street. But is that so bad since the Fed has created the illusion of prosperity for the rich which will vanish when the latest asset bubbles pop? Unless steps are once again taken to rescue it at taxpayers expense, could it be that Wall Street will be hit much harder by the next popping of asset bubbles than will Main Street America?

  • Bolt Upright

    If I was farming humans to be productive, I wouldn’t give them something for doing nothing. A guaranteed national income is giving something for nothing.

    • Sam Fox

      Bolt, that is very true. For now. The eventual price that those given a guaranteed income will pay
      will be slavery to the state. When those paying the taxes for the takers run out of $$….:-)

    • In the human farming business you do not actually ‘give’ the herd anything. If people are to be given ‘something for doing nothing’ that ‘something’ will just be taken from the most productive portion of the human herd and distributed according to that which achieves the greatest desired effect. So whilst some of the herd indeed receive ‘something for nothing’ the productive remainder receive ‘nothing’ for ‘something’. If you were ‘farming humans to be productive’ who would you be seeking to benefit from that productivity: the human herd or yourself? The mass of the human herd believe ‘the state’ is altruistic and will perceive this idea of a ‘national income’ to be evidence of ‘the state’s altruistic intention. But that is not the fact (and I think that, fundamentally, you really do understand this point). The benefit to the human farmer of creating a system that makes people believe that ‘the state’ gives them ‘something for nothing’ is that this strengthens and perpetuates the human herd’s belief in the paradigm of the legitimacy and utility of ‘the state’ and makes them believe they are dependent upon, and benefit from, the continuation of the paradigm. Clearly a ‘national income’ is of more use to the ‘human farmer’ in keeping the herd manageable than more draconian measures which then risk revealing to the herd the truth of the servitude that they labour within. If the herd see the farmer’s is constantly slaughtering, realise that the farmer is not just there to feed and protect them, they will be less productive or even realise they need to escape the farm to flourish.

  • Bruce C.

    Here is an interesting article about an anomaly with silver this year. Basically, a large amount of silver imported into the US is unaccounted for.


    Here is an article about some predictions concerning the US and global economy and an imminent financial collapse:


  • Praetor

    Watch what they do, not what they say! The Feral Fed and the Wall Creep Elites are prepping, they are Preppers, and they love Mises, because they read this statement by, Ludwig von Mises> There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. Yes, they believe in Mises, but are following Keynes. They be waiting for the right time to collapse the U.S. economic system, the time is not yet, but is coming. Their prepping. Their preppers so be a prepper. Prepare yourselves. The low price for the PMs is a ‘GIFT’, so Merry Christmas, go out and buy some gifts!!!

    • Danny B

      “they believe in Mises, but are following Keynes.” Shriek,,, the stuff of nightmares.

  • bouf

    Leaving it in ‘His Hands’ is the same as capitulation to ‘the Elites’. Same animal.

    • Sam Fox

      bouf, I politely disagree & would suggest you have no clue what you are talking about. The elites are the enemies of God, they are not gods themselves & they seek to control the planet. The ‘Federal’ Reserve is one of their tools for destroying the USA.
      Thank you.

      • bouf

        Well, seeing as how even the Jews themselves were made to obey the Emperor, Caesar, and the ‘Elites’ have always been the high-priests of every temple, and that the oldest complete Torah is only 800 years old (which is remarkably different from some of the Dead Sea Scrolls), while the oldest known Catholic Bible is 1,600 years old, and given that propaganda is as old as the Greeks, it’s increasingly obvious that what the ancient Jews meant when they wrote yahweh has nothing to do with modern conceptions of ‘a maker’ or ‘God’. Rabbinical Judaism, like Christianity, is a _product_ of Rome, not a by-product or reaction. The Jewish part of this story is documented history: the Romans allowed some Jews to continue their faith under Roman supervision, with the addition of more Roman values. The rest were destroyed.

        The Christian part of the story is the subject of a great deal of contemporary research, but since Caesar Flavius Titus’ sister (or perhaps cousin), St. Bernice is one of the first documented martyrs of the Catholic Church, it is no stretch to think that this ‘new covenant’ wasn’t a ‘meet the new boss, same as the old boss’ kind of routine. So while I acknowledge your suggestion, I would beg to differ.

    • Sam Fox

      bouf, pardon me please, but you are mistaken. ‘His hands’ do not = ‘today’s elite’. Today’s elite work for the arch enemy of God. I think the upper most echelons do so as an act of will. I’d say they sold their souls…

    • dauden

      Somebody has to be God. Is it you?

      • Somebody has to be god? That’s rather an odd belief, certainly debated in these pages by DB readers.

        This article’s comments will not turn into yet another free opportunity to proselytize your Christian faith. Feel free to comment on the interview, however.

        • dauden

          Yes I do appreciate the objective here is to participate in an exchange of ideas pertinent to the subject matter. I have read DB for years along with other liberty minded material and my life reflects it. Because there are brilliant minds here I thought there would be some who might see that ultimately the affairs of men are spiritual in nature and the battle is in the heart. But I will respect the ongoing status of secular discovery. I could hardly improve on most comments here at DB as I agree mostly with the analysis; my interest lies in truth, and that’s a personal issue relevant to knowledge, understanding and wisdom.

      • Col. Edward H. R. Green

        No one, metaphysically speaking, “has” to be a god, or has any valid right to comport himself as a “god” over others, but since supernatural gods are metaphysical impossibilities, sociopathic human beings, having achieved :king of the hill” by subterfuge and conquest, strategies for acquiring power stretching back to the times of proto-philosophy (which religion is a species of), designated themselves gods (e.g. Kings of Babylon, Egyptian Pharoahs, Roman Emperors, Popes, Monarchs, Czars, Senators, members of Congress, etc.), and their lackeys/intellectuals conceived highly rationalistic theologies and statist secular philosophies to justify and defend their leaders “divinity” and “right to rule”. Thus arose the union of State and Religion (Church), maintained and asserted by massive, overwhelming force of arms–and this union is with us still–even in the USA.

        Assert and defend against all sociopaths–inside and outside government–by the force of your own physical strength and your own arsenal, your individual sovereignty over your own life and property, a sovereignty based upon your completely this-worldly nature as a human being possessing the faculties of reason and volition that human evolution–NOT divine/supernatural endowment–produced in you.

        • dauden

          Sounds rather militaristic, Colonel. Kill or be killed. You die and then what? No one who has died and come back from the dead knows….except JC. There were over 300 witnesses who saw him and some watched him eat! He then spoke to men over 40 days then disappeared into the clouds with men watching. It all sounds mythical unless you learn that everything Jesus did was in fulfillment of prophecy. Who could predict the life of someone thousands of years before that person lived but the God of the bible. But, alas, we’re getting off topic here………

  • Danny B

    Oh Great Bell, the canary died; http://www.plata.com.mx/Mplata/articulos/articlesFilt.asp?fiidarticulo=279
    Various States are selling the family jewels; http://www.armstrongeconomics.com/archives/40593

    The commodity currencies are crashing. Manufacturing economies are crashing. In an effort to maintain their standard of living, many States are burning through their reserves. Saudi claims that they can survive for 5 years with $ 50 oil. How long can they survive with $ 25 oil? They need $ 105 to meet their budget. I won’t mention Venezuela or Nigeria. Even Norway is going broke. The consumer goes broke,,, then, the producer goes broke,,, then the State goes broke.

    The money supply is cash and credit. We are debt saturated and credit demand has crashed. PCR made that clear. That is where our hyper-deflation is coming from. The CB initiated inflation is corralled in the upper loop of the economy. It is the lower loop that has wiped out consumption. The more “money” is forced into the upper loop, the more bleeds over into the lower loop as price inflation. Prices go up in the lower loop that has constrained AND falling consumption. Lower aggregate wage earnings stretch even less and consumption falls even more. It is a classic feedback loop.

  • People will not find the ‘ability to be at peace with oneself and others’ whilst believing ‘the state’ to be legitimate because: central to the way that ‘the state’ functions is the ‘initiation of force’, without which ‘the state’ would fail and end.

    Everyone wants to own, have sovereignty in, their own body, their mind and that which they produce: their rightful property. If one individual or group of individuals infringes upon other’s rightful property it is understandable and predictable that the infringement of property can legitimately be defended. This tenant is central to seeing the illusion of the belief in ‘the state’.

    ‘The state’ can no more legitimately use force than any individual or group can, the only reasons why ‘the state’ is successful in the use of force is that: 1/. it will escalate the use of force to surpass the means by which any individual (and most groups) can muster to resist, and 2/. the subjects of ‘the state’ are broadly indoctrinated to believe in the legitimacy and utility of ‘the state’.

    We live in a world where the vast majority are indoctrinated into a belief that the violence that is central to ‘the state’ is legitimate and whilst this false paradigm perpetuates there is NO HOPE that a true ‘ability to be at peace with oneself and others’ or that well founded ‘spiritual aspects’ can occur. Peace and spirituality can not have its foundation on the lies, untruthfulness, deception, violence, subjugation, ignorance and slavery that is ‘the state’.

  • Wrusssr

    Another great interview, DB.

    Jay Taylor, IMO, correctly pegged the international banking cabal that’s engaged in the systematic acquisition of the globe’s resources: “The fed owns and runs the (US) government, not the other way around.”

    The City, located in the middle of London in a square mile independent nation that’s headquarters for these international bankers who own the Fed and the government–and who are not a part of Great Britain–are the ones engaged in the theft (control) of global resources through the deliberate run-up of national debt in more than 140 nations where they’ve established central banks like the Fed.

    Using greedy, corrupt, government representatives and officials (or whoever’s ‘in charge’) eager to do this, the bankers require them to put up government-owned collateral (gold, silver, minerals, oil, gas, real estate; real money, real assets) for their annual operating “loans” to “run” their countries.

    Their central banks ‘print’ these loans for the cost of paper, ink, and press-time; then “loan” this paper money to the nation at its face value (or by making a ledger entry) at high, perpetual interest; the cost and size of which grows annually until the nation can no longer pay the interest on the loan, much less the principle.

    At which time the bankers foreclose on the nation’s collateralized resources—their end game being the acquisition of these resources from the onset—gold. silver, land, water, minerals, money, food, fiber, industry, government, jobs, people, hope.

    All acquired with usury and paper money.

    “Why in the world have we not learned anything from the experience of the Soviet Union?”

    IMO, because the descendants of these same bankers who bought Woodrow
    Wilson (a socialist) the Presidency in 1913 in exchange for his signature on a 100-year central bank charter—The Federal Reserve Act (quietly renewed by Congress in 2013)—with which the London bankers established their central bank (The Fed) in America to print and sell America its own money at perpetual interest, are one in the same as the bankers who bankrolled the Bolsheviks who commandeered the Russian Revolution in 1917, looted Russia, and filled Zionist banks vaults throughout Europe who’d financially supported their takeover.

    The London bankers appear to endorse socialist/communist-type central
    control. Then and now.

    “Not only has the Fed not been doing a good job, they have been systematically destroying capitalism by disallowing price discovery of capital” (see above).

    The founders drew a Constitutional road map that would enable America to avoid the financial pitfalls and traps in which the U.S. and world now finds itself mired; that being Congress was the only body authorized by the Constitution to coin [print] money for the nation and manage its debt.

    Jay Taylor also was correct, IMO, in his assessment of the assassination of U.S. presidents who planned on kicking these bankers out of the country or shutting them down. America’s founders had observed their schemes in Europe and England and had to have had them foremost in mind as they wrote the Constitution—still valid and still the greatest governing document ever written.

    Along the way, different administrations had tossed these bankers and their central bank out of America; or committed to doing so. The bankers sent assassins in retaliation; attempting and failing to kill Andrew Jackson (who kicked them out); killing Lincoln who had been re-elected and who the bankers knew would win the Civil War and not let them back in; Garfield, who believed a nation should “control its own money”; attempted and failed to assassinate Teddy Roosevelt, running for president on the Bull Moose Party who was saying “. . .America should handle its own money and financial affairs” as he campaigned; and Congressman Louis T. McFadden , the most knowledgeable congressman in Washington last century about the bankers and their central bank, who brought formal charges against the Board of Governors of the Federal Reserve Bank system, The Comptroller of the Currency, and the Secretary of United States Treasury on May 23, 1933, for criminal acts that included conspiracy, fraud, unlawful conversion, and treason.


    The bankers began trying to assassinate McFadden soon after. Their first attempt came when two shots were fired at him from ambush when he stepped from a cab in front of a Capital hotel. Both missed. Then he was poisoned after eating food at a political banquet in Washington. A physician friend at the banquet saved his life. Finally, , on Oct. 3, 1936, he “. . .died suddenly of a ‘heart attack’ after a ‘dose’ of ‘intestinal flu.’”

    Kennedy was assassinated because he had the Treasury print up some six billion dollars in silver-backed currency, and had served notice on the Fed he was phasing them out. This money was recalled and destroyed after Johnson assumed the presidency.

    Two thumbs up also on Jay Taylor’s idea about the necessity of someone to rule the world.

    Outstanding interview.

  • littlebit43

    I am glad to hear that I am not the only one thinking this way.