"US Government Will Default- Bill Holter"
By Greg Hunter’s USAWatchdog.com
"Market expert and financial writer Bill Holter says elite were in a “panic” last week to try to push down the price of gold and silver. Holter explains, “You have to understand that gold is the direct competitor versus the dollar. Other currencies in the world compete with the dollar, but the dollar is the reserve currency. It supplanted gold in 1971. Gold and the dollar are direct competitors or arch enemies, or whatever you want to call them. The best way to make the dollar look good is to make gold look bad. That’s what the purpose of all these naked sales or contracts are to suppress the price (of gold and silver). That’s the purpose of it. Tuesday, Wednesday and Thursday were three big sales back to back to back, which shows the captains of the dollar are panicking. The dollar definitely looks like its rolling over and has been taking some fairly sizable drops intraday.”
Holter also contends, “The gold market is at an inflection point. The silver market is at an inflection point, and the stock market is at an inflection point. There are inflection points everywhere, and the dollar is definitely starting to look weak.”
Holter says the financial and geopolitical landscape is a minefield that could detonate at any time. Holter says, “I have long said that because of the derivatives outstanding today, once something blows up, the whole system blows up within 48 hours. The globe will spin twice, and basically the markets will close. It really amazes me that there are so many potential fire events out there, and yet there is zero concern. You are going to wake up one morning and something somewhere will have already happened. At that point, it will be too late for you to do anything. You are going to wake up and find out there was a dog fight between a Mig and U.S, fighter jet or a sub was sunk or a big bank becomes insolvent. Who knows what it’s going to be or where it’s going to come from, there are just too many of them. The point being is it’s here and now. It’s a dry barn, and they are flicking matches all over the world.”
Holter says the financial markets are being propped up by “fraud,” and the global financial markets are nothing more than “Ponzi schemes.” He says many people are surprised it all did not unravel years ago and points out, “I didn’t see it getting past the end of 2016. It could collapse anytime. We should have collapsed two or three years ago, but with smoke and mirrors, they held this thing up. It’s a complete hologram or shell. There is no substance underneath the real economy. The whole thing is a house of cards, and it’s built on credit.”
In closing, Holter predicts that “the U.S. government will default” at some point and explains, “Default is a mathematical certainty. There is no way the debt and the commitments can be paid back. Once a country get over 100% debt to GDP, that’s banana republic time, and the U.S. is 105% debt to GDP right now. That’s just the debt on the books. That’s not future promises.” (There is much more in the video Interview.)
Join Greg Hunter as he goes One-on-One with Bill Holter of JSMineset.com.