One Giant Financial STD and Everybody is Infected – Bill Holter
By Greg Hunter’s USAWatchdog.com
Precious metals expert and financial writer Bill Holter said last summer that the Fed rate increases would tank the economy. Everywhere you look you see the economy falling apart. House prices and sales are down. Banks are clocking record losses, vehicle prices are falling and unemployment is rising. The economy has not completely crashed, but it will. Holter explains, “There are over $2,000 trillion worth of derivatives outstanding on a global economy . . . that has maybe a little more than $500 trillion in asset values. So, you have this dog walking around with a gigantic tail that will shake the dog.
When derivatives go, it’s a 48-hour event. Who do you think holds all these derivatives? You’ve got the big banks, all the big brokers, all the big insurance companies and they are all going to go down. It’s like one giant financial STD, and everybody is in bed together and everybody is infected.”
What is the Fed going to do? Holter says, “The Fed is in a box. . . . They will have to make a choice to save the dollar or save the financial system. They can’t save everything. Something has to break. I have said this for years, and that is there are already losses out there, but somebody has to own up to them. Nobody has had to take the losses because everything has been papered over for so many years where losses were just kicked down the road, and there is no more road.”
Holter goes on to say, “The best way to sum it up is the facade that we have lived our lives through is ending and will completely end. The reality is going to blow people’s minds. That will be a depopulation event because people will be starving. . . . The Fed has always feared a deflationary collapse where it cannot inflate the system. Credit is the foundation to the whole system. If credit cracks and credits collapses, it means the foundation collapses and thus the entire house.”
It everything is collapsing in price, what happens to gold and silver prices. Holter says, “Gold and silver are the only real money on the planet that cannot or will not default.” Holter likes them both and adds, “Silver is the most undervalued asset out there right now.”
There is a lot more in the 48-minute interview.
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