Via Greg Hunter’s USAWatchdog.com,
A few months back, precious metals expert and financial writer Bill Holter predicted the economy was going to tank, and today, the U.S. is officially in a recession.
Holter says it’s not just America buckling under enormous debt, but the entire world. Holter explains, “This is only the start…”
“They are trying to debate whether or not we are in a recession, but it’s pretty much a lock. Yes, we are in a recession. And this is not just the U.S. This is a global problem…
Let me put his into perspective. If you add up all the global GDP’s, we are roughly $100 trillion. The problem is there is well over $350 trillion in debt worldwide…When I graduated college… anything above 100% debt to GDP was considered a banana republic. Look where we are today. Globally, it’s 350% debt to GDP. What that tells me is the world is a banana republic.”
So, it’s no surprise big money is getting out of fiat currencies like the U.S. dollar. Less than a month ago, Holter, who is also a precious metals broker for Miles Franklin, brokered what looks like the biggest U.S. silver coin deal in history. Just the Silver Eagle portion of the deal was 650,000 coins, which was only part of the $50 million deal. Only $27 million of that could be bought in U.S. incremented silver coins. (The rest was used to buy gold U.S. coins.) Holter says that cleared out the wholesale market for U.S. silver coins, including so-called junk silver. Holter contends,
“That shows you how thin it really is. By the way, a fair portion, 15% or so, was future deliveries from the mint. So, we basically cleaned up the next four to eight weeks of Silver Eagle deliveries. They belong to us, and we are still waiting for delivery from the mint. . . . The client wanted U.S. coin. In the U.S., that is the best form of silver ownership. We did not touch bars, generics or foreign sovereigns. So, there is still much more out there to be bought, but how much? I think $1 billion would buy all the available silver in the U.S. Think about it. A billion dollars today is not even the mustard on a ham sandwich. . . . Make no mistake, this deal was a big hit to the inventory . . . of U.S. silver coins. . . . This paper Ponzi scheme is going to come down, and the best place to hide is gold and silver.”
On housing, Holter says it has topped and predicts,
“Now, there are no bids, and homeowners are lowering the price. It was a virtuous cycle to the upside. Now, it’s reversed, and it will be a virtuous cycle to hell on the downside…
I say hell because there is so much debt outstanding, it will create margin calls across the board.”
Holter is still predicting a Mad Max apocalyptic future that looks more and more like a real possibility. Holter says,
“We have had free and carefree times for the last 40 years. Now, you are going to see the reverse. Debt is a two-edge sword, and after 40 years, we are going to see the dangerous side of the sword… There is going to be starvation. This is going to be unlike anything…anyone has even written about from a fictional basis. . . . I’ll be surprised if we make it through this year with the real economy functioning as it is right now.
Supply chains will break down . . . We will have some dire markets leading to . . . market closures and bank closures.”
There is much more in the 44 min interview.
Join Greg Hunter as he goes One-on-One with financial writer and precious metals expert Bill Holter of JSMineset.com for 7.26.22.
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I have been waiting for this announcement. Begs the question, what happens when the whole world becomes a dictator run BR and the goon squads start shooting everyone? That makes COVID look ineffective.
Speaking of Mad Max….
My daughter refuses to fix the rock chips on the entire front of her E Class because she says it is soon to be Mad Max time and it won’t matter anyway. She could be right and this article could be right but I would repaint the front end of that car no matter what. Decorum at all cost.
What’s a “BR”?
It starts with Banana
Banana Republic, is a clothing and accessories retailer “owned” by the American multinational corporation Gap Inc. and founded in 1978 by (((Melvin and Patricia Ziegler)))
banana republic
Fix the MB real nice. A paint job at the dealership should give plenty of pau$$$$e but Earl Schieb is verboten.
Then have daughter sell it schnell and get a Japanese car – the best cars in the world. Korea #2.
(Has anyone seen the price of a used Toyota Tacoma 4×4 lately? Yikes!)
Good God man, tell her to get rid for that skanky Mercedes and get end-of-the-world wheels. WTH?
Glock- It already looks like a end of the world vehicle. She’s 50 y/o and I can tell you she won’t fix it. It has 160,000 miles on it, what can I say.
Whatta bunch of haters, if it had been a FORD Focus instead of a MB would the downers still fly? 🙂 The author is leaning toward Mad Max times, not me.
Seriously, look how many countries have turned into lawless dictatorships. If they can’t shot you up one way, the dictators will shot you up with lead.
I hope Holter understands that when his gold mine starts producing, El Presidente for Life will be sending in skinny troops to nationalize it, who will later be gutted by drug-addict, terrorist mercs from broke-ass ZATO, etc. round and round.
But that is his hedge for global society still holding together even without food, trust, truth, or hope. Going Mad Max Galt is a multivariate spectrum.
Reminds Auntie of a song:
“…and pounds of devaluated pounds.” Hardee har har. (What does Rishi think about this, Austrian Peter?)
Must be Doomsday week at Greg Hunters house.
https://www.zerohedge.com/geopolitical/austin-fitts-were-war-deep-state-globalists
Must be Doomsday week at Greggs.
I don’t agree with her about cash being the answer. It will soon be worth less than Zimbabwe bucks.
https://www.zerohedge.com/geopolitical/austin-fitts-were-war-deep-state-globalists
Someone surely did buy tons of 90% USA silver coins, because there’s virtually none of it for sale right now on Apmex, SD Bullion or Provident Metals, even though the asking price for it is in the 28-29/oz. range, which is more than 40% over the spot price.