C2C - 2012.05.21

Financial Crisis Special

Date:	05-21-12
Host:	George Noory
Guests:	Peter Schiff, Paul McGuire, Lindsey Williams, John Truman Wolfe

In separate hours, three guests addressed future and current economic crises. First, global financial strategist Peter Schiff argued that the crisis of 2008 is nothing compared to what is coming. The government stimulus programs have made the situation worse, in that they prevent free market forces from correcting the situation, he commented, adding that the real problem with the US economy is that interest rates are too low. These low rates contribute to economic structural problems, he explained-- we borrow and spend too much, and we don't invest or save enough. If we keep the rates low indefinitely, we're going to completely destroy the dollar, which will unleash a far worse crisis than if we actually dealt with the problem, he continued. Schiff favors an overhaul of Social Security (which he called a kind of Ponzi scheme)-- no benefits should go to the wealthy, and further, everyone expecting something from government should take less, he said.

Former senior banking officer John Truman Wolfe discussed how the current world economic crisis is an intentional coup designed to take down the U.S. dollar. He cited the International Monetary Fund and the World Bank as two organizations that "truly became global predators." Behind the scenes, they created economic crises in third world countries, and then came in on a "white horse" to save these countries with loans, which they knew could never be paid back, he detailed. They have much of the planet in debt, and exert control through this, Wolfe continued, adding that another economic crash is coming. The 2008 US crash as well as the current European crisis were planned scenarios in order to place a global monetary interest in authority, he revealed. He also was critical of the massive derivatives market, which he characterized as unscrupulous casino-like gambling practiced by banking institutions.

In the last hour, ordained Baptist minister Lindsey Williams shared his contention that the collapse of the dollar is being orchestrated. According to his "elite" sources, we should be on the lookout for signs that a collapse is imminent. These indicators include a crack in the derivatives market, currency & trade wars, as well as a 1% rise in interest rates. He suggested that people "secure their assets immediately," which means to get out of all paper, and invest in gold and silver (which he was told will be used to back the new world currency).

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