Precious metals expert and financial writer Bill Holter said in June it was “game over, they’re pulling the plug.” The Fed went on an aggressive interest rate raising policy and is still raising rates. Now, the economy is staggering. Holter explains, “For sure, we are already in a recession. We are now in the third quarter of negative growth. I think it is laughable that people put odds on whether or not we are going to go into a recession because it is obvious–we are already in a recession. Rates rising have absolutely frozen the real estate market. If you own a property, who is going to buy it? Rates have gone from 3.25% to more than 7%. I am on the record that once we saw a 3% yield on the 10-Year Treasury, you would start to see a tightness in credit. Now, we are over 4%. What few people are talking about is what has this already done to the derivatives market? . . . Think about how big the derivatives market is. Total credit worldwide is $350 trillion, but you have derivatives pushing $2 quadrillion. I have said this all along, derivatives will blow up. Warren Buffett has called them financial weapons of mass destruction. They are far bigger than central banks can fix.”
Holter goes on to say, “The real economy runs on credit. Everything you look at, everything you touch and everything you do every day has many uses of credit to get to the final product or situation. So, once credit freezes up, it’s completely game over. In a past interview, I said they are pulling the plug. They have to pull the plug because, mathematically, the debt cannot be paid. The derivatives cannot perform. So, they have to pull the plug. They also have to do one other thing, and that is they have to kick the table over. What will the false flag event be? I have no idea. . . . They have to kick the table over so they can say our policies were working, but whatever this event will be stopped them.”
Holter thinks the odds of having the midterm election is “less than even.” The Democrats are so far behind because of their disastrous economy.
The Great Reset. Everyone here should have seen this coming.
I can’t even remember how far back Bill has been saying this. Someone once said that even a broken clock is right twice a day. I am not impressed by those who have been warning us since 2008. It is rare to hear someone say that they were off on the timeline. Better to be a year early than a day late, but 10 years early?
Frankly I’m amazed at how resilient the Dollar has been. I expected economic collapse by 2010. I’m not a prognosticator nor an economist, but the ability of the fed to manipulate our currency has been stunning.
Dana
The experts kept telling us they can’t print money forever. 10 years is hardly forever. The gubmint loves printing cause they can give voters more things for “nothing”. However, inflation is the secret tax and politicians would rather have that than raise taxes.
The dollar is only resilient against the other fiat currencies. That doesn’t mean much when you think about it. Fine art, precious metals, farmland; that is where there is value. I think it is time to start dumping your dollars into hard assets like these. I pulled the trigger on a second well for my property last summer. I’ll have water when I need it most. You can’t drink that filthy money.
It is a function of how well the bastards can delay, and deceive reality. Nothing in the markets is as it seems. It’s all a comic book. The SHTF should have happened 10 years ago.
Agree!
it’s all on purpose, they dangled the derivatives market out there because they knew greedy bankers and traders couldn’t resist the upside, but just like welfare, it’s another rug whose sole purpose was to be pulled out from under people to make them poor and desperate for any government solution offered
most here have known for a while that mid-terms are likely to not take place. a manufactured event in Ukraine will be the “table” being kicked over, and the ensuing “national security” measures that follow will bring about the great financial reset, and we will all lose.