Bill Holter has been observing the current world crisis with increasing alarm. The debt merry-go-round is spinning faster and faster out of control. Now that ECB has begun QE in earnest and the Swiss have broken the Euro/Franc peg, it’s hard to imagine how much longer the system will stay afloat. Greece’s debts are unsustainable, the derivatives bubble is about to be popped and counter-party risk is about to become the term dujour. Will there be a systemic collapse leading to seizure of the credit markets? Bill thinks it could happen, but we all certainly hope not.
This interview was hosted by Financial Survival Network.
This is absolutely nuts….
The situation world wide both geopolitically as well as the financial fires breaking out everywhere is absolutely potentially world changing.
Yet the markets go up and PMs go down….
Any sane stable person knows this will end BADLY.
I am just sitting back watching and stacking food.
Major Black Swan Event likely on our doorstep.
What a freakin mess….
yes.
The situation this week is like a pressure cooker on the stove unattended.
SOMETHING SOON IS LIKELY TO BLOW THE TOP OFF.
The word for 2015.
DESPERATION
yes, the lies are getting big, even for them.
Same have been said for 2014 and bonds/stocks higher : it will most surely be the same again in 2015.
“most surely”.
Bill
cant wait for your daily blog. love it!!! tks!
here is eric sprott,
One Percent Change = $10 Trillion!
One quadrillion dollars is a very, very large amount. A one percent change is 10 trillion dollars! (LAUGHTER). We get one percent changes in currencies every day.
Chaos And Enormous Financial Destruction
Look at the chaos. You have no idea what’s going to happen to a currency the next day. Brazil’s currency is crashing. We’ve had oil fall (over) 50 percent and various other commodities have collapsed. Bond yields have gone up today, so some guy who is levered long the bonds — he’s getting killed today. There has to be a lot of hurt going on out there.
I don’t even know if we will ever see it (the enormity of the financial destruction), Eric, because of these changes in accounting policies. The FDIC is supposed to take care of derivative losses at major banks. This was passed in a recent resolution by Congress. We may not see it manifest itself because they (major banks) don’t have to mark-to-market. But any sane person has to know what’s going on.
KWN Sprott III 2:6:2015
Wiped Out In A Day
You can’t have one quadrillion dollars on either side of a market and nobody is losing money. Somebody is losing money and the amounts are way beyond anyone’s ability to pay. So that would be my biggest fear here — that there have to be some huge losses being taken. For example, when Switzerland abandoned the (currency) peg, some hedge fund that had $850 million in it got wiped out in a day. The leverage that’s out there is just staggering and that’s just one example.
And someday there is going to be a claim on some entity where that bank will not be able to honor the claim. Nobody has any idea what’s going on in these banks with their huge derivatives positions. Nobody knows what’s happening.
KWN Sprott VII 2:6:2015
Sprott Makes One Of The Most Dire Predictions Of 2015
I don’t know when it (the next Lehman moment) happens, but we are standing in front of a (global) financial tsunami. We know it’s going to land — everybody knows that. The earthquake was long ago and now the tide is going to come in here and people have to be prepared for that because there is no mathematical way out of this.”
Mr. Sprott is correct.
In the meantime, they post better numbers in décades without any problems.
Stocks and bonds are going up and metals will be destroyed : simple.
simple.
Eric Sprott one individual that I have the highest respect for just stated that The World is facing a Global Financial Tsunami.
Interview to be released later tonight.
I will post the link when available.
you interviewed him?
be prepared for that because there is no mathematical way out of this.”
Bill I think that is exactly the point you and Andy have been stating here for some time.
The Math tells the story.
Bill, now the presstitutes got attention diversion of different kind finding presstitute Brian Williams as their sacrificial sheep, while BLS Joseph Goebbel propaganda ramps up. AND civilian carnage continues in Donetsk, East Ukraine using our taxpayer money/NATO weapons.
Here is Paul Craig Roberts talking about these points.
We have entered a valley of immense danger, unknown for America. Reminds of the level of distortion during days before Nazi Germany attacked Sudetenland, Czech Republic.
http://www.paulcraigroberts.org/2015/02/05/cowardly-despicable-american-presstitutes/
http://www.paulcraigroberts.org/2015/02/06/grand-manipulation-paul-craig-roberts/
afraid you are close to correct.
It saddens me greatly when I realize that greed and power has trumped right and wrong.
Telling the truth is now a risky venture for journalists.
I suspect a future where we may choose to no longer travel to other countries for the risk of being placed under arrest for expressing our opinions.
Fear can and will cause one to alter actions.
Once fear was simply an emotion due to a belief of loss.
Today fear is a reality that one must consider. If not for ourselves for those that we love.
Silver and Gold payday may not be far off.
http://www.sprottmoney.com/sprott-money-weekly-wrap-up
Eric Sprott weekly wrap up.
Us stackers will prevail.imho
The Lord instructed a reset every 7 yrs. hummmmm
it’s been 82 years or 44, depending on when you start counting from.
1973, 1980, 1987, 1994, 2001, 2008, …….
And a big reset every 49, uh that is if you were under the Law
7X7 …uh…my batteries are low.
Year of jubilee every 49 yrs when all property returns to original owners….OT economic reset
one can hope!
There’s many folks who are very good at what they do, and Bill your certainly one of them; but when it’s all said and done, Paul’s hope is all we have.
when the time comes, I just hope Jesus “knows” me!
I see Paul’s “hope” for eternity as much the same as our “hope” in placing our financial future on this earth in PM’s.
After much reading and research (r&r), I have concluded not to be dependent on man’s stock mkt or man’s bond mkt or man’s annuities, etc.
I have placed my hope, my look to the worldly future, in real wealth, PM’s.
I don’t know when; but I know it is certain.
yes it is.
Lev 25
Morning Bill,
I need some advice. In the next month I need to make a couple of wkend trips to a location about 6 hrs from home.
I do feel when we have a major reset, it will come on a wkend and I don’t wish to be caught not being able to get home. I suppose my main concern would be fuel and repairs because I always carry enough water and food for more than 6 hrs.
I always carry extra cash; but in the case of major reset?
Junk silver, SE’s,? What do you feel will be the most acceptable at the very beginning of a reset?
Thanks
your only problem will be getting the fill up on your way home. I would not stress about it but be prepared. If you are travelling with cash or metal, don’t forget the lead! I don’t know where you are travelling but here in Texas there are some pretty remote areas within 3 hours of me, best to prepare best you can.
Always the lead, but you raise a good point.
In TX an extra box of lead might be as good for barter as anything.