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.
Sprott Natural Resource Symposium
Start date: July 25, 2017
End date: July 28, 2017
Location: The Fairmont Hotel Vancouver 900 W Georgia St, Vancouver, BC V6C 2W6, Canada
The Vancouver Natural Resource Symposium is a dynamic event to attend—and be a part of. We invite you to join us and you’ll be rubbing shoulders with high-net-worth, like minded individuals whose collective knowledge is considerable. Andy Schectman will be addressing the general session and hold a special workshop. Please call our office for more details. For travel details, please contact Opportunity Travel and mention that you are a Miles Franklin client.