Bill Holter of MilesFranklin.com contends the banking system is interconnected and very weak and explains his point by saying, “Look at what happened when the Swiss dropped their peg to the euro. That basically has tanked the Austrian banking system. The Austrian banking system is on the verge of collapse because they lent in Swiss Francs. The strength in the Swiss Franc makes those loans much more difficult to pay back. That’s thrown the entire (Austrian) banking system out of kilter. If you do that with the dollar and you raise rates, and the dollar gets strong or spikes up 5% or 10% overnight, what’s that going to do to banks all over the world? That’s going to create a smoking black hole of derivatives.”
Meet Miles Franklin investment advisors, attend a Q & A session or join us at an upcoming conference.
Total Wealth Symposium
Start date: September 21, 2017
End date: September 23, 2017
Location: The Diplomat Beach Resort 3555 South Ocean Drive Hollywood, FL 33019
Miles Franklin will be a participating in the 16th Annual Total Wealth Symposium in September! It is an all-star roster of industry experts at a grand location on Florida’s Atlantic coast. Andy Schectman will be speaking on Friday, September 22 at 4:00 PM. Andy will also be participating on the “Rare Tangible Assets” panel with other industry experts Friday at 5:20 PM. This event has limited attendance and will sell out quickly!