By Greg Hunter’s USAWatchdog.com
Financial analyst and writer Bill Holter thinks the powers that be know how shaky the system is and will play the blame game for the coming crash. Holter contends, “I believe that they know the financial system is upside down and there is no bringing it back, so they do need to have something to point at. It could be a war with Russia. We are trying as hard as we can to create a war, and it looks like Russia; and Mr. Putin is trying as hard as he can not to have a war. There could be any number of things to point at. It could be the Ebola virus outbreak. It could be the Saudi Arabians accepting euros, gold, yuan and it could be anything. There are dozens of topics.” Holter goes on to say, “Truth is the first casualty of all wars. So, we are getting bad information from our press, and we are getting bad information from the Russian press. When a war starts, you will never get the truth.”
On the U.S. dollar, Holter says, “It’s a 100% confidence game. The dollar is based on the full faith and credit of the U.S. . . . We know from a credit standpoint we are over 100% of debt to GDP. So, there is the credit part of it. Faith is whether your word is good or not. Our allies don’t know whether we are going to back them up, and our enemies don’t know if we are going to do what we say we are going to do, or not do what we say we are going to do.”
On recent terror warnings from the Saudi Arabia that there might attack on an EU or US city, Holter, once again, says, “Would that be something to point at? If the City of London had a dirty bomb go off or Chicago or New York, that would cripple the financial system within a day or maybe even less. Banks wouldn’t open. What about the news of Russians hacking our big banks all last week? Is that something you can point at? If all of a sudden we woke up one day and if there were hundreds of billions of dollars in digital credit gone, what would that do? Banks wouldn’t open, and it would be something to point at. . . . They know that it’s upside down, and they need something to point at and say our policies were working. Our policies would have worked if it weren’t for such and such, whether it be war, or an attack on a major financial city or the Ebola virus. You name it.”
So, what happens to people’s wealth after the coming crash? Holter says, “I believe that many things that are real will be revalued many multiples higher. Silver and gold I see being revalued eight to ten times higher or more if we have a closure of the banking system and the stock market, a reset so to speak. You are going to be stuck until everything reopens. There have been bail-ins discussed. In a bail-in, let’s say you have $200,000 in your bank account. You would wake up Monday morning and it may only be $50,000. In Cyprus, the depositors lost 87% of their funds from the time the banks closed to the time they re-opened. You also have to worry about these brokerage houses where you are carrying a margin account and they have lent your certificates out, and all of a sudden, the system closes. Where’s your certificate? Who owns it? What if your brokerage company goes out of business? It may be five years or more to get your paper certificate back.”
How likely is a crash in the financial system? Holter thinks, “From a probability standpoint, whether it’s tomorrow morning or next week, or next month, or next year, mathematically, ask yourself this question: Is the U.S. broke? The answer is yes, the U.S. is broke. There is no way the U.S. can pay the promises, the interest and etcetera on everything that is out there. I’ve seen a number of $240 trillion in total promises and debt. There is no way that can be paid. So, from a mathematical standpoint, sooner or later, there is going to be an all-out collapse. That is a mathematical equation. It is no longer if, it is only a question of when.”
Join Greg Hunter as he goes One-on-One with gold and silver expert Bill Holter of MilesFranklin.com.
(There is much more in the video interview.)
After the Interview:
Bill Holter says there is a “high likelihood” that a real or false flag terror attack will cause the next financial crisis. Holter thinks an upcoming attack will involve some sort of nuclear device which could be a suitcase nuke. Holter is a prolific writer at MilesFranklin.com. If you would like to check out one of the four original articles he writes each week, please click here for Holter’s archives.
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