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.”
Upcoming Events
Sprott Natural Resource Symposium in Vancouver, July 17-20… a sell-out event that offers more and more value every year. Over four days at the Fairmont Hotel in downtown Vancouver, you’ll hear it all from some of the world’s foremost financial experts, including Andrew Schectman! In between listening to cutting-edge ideas and research from the industry’s top experts, you’ll have plenty of time to network and socialize with everyone at the Symposium – speakers, exhibitors and your fellow attendees.
Please call our office for more details at 1-800-822-8080 or email us
Please contact Opportunity Travel to reserve your spot and mention that you are a Miles Franklin client.
Great job, Bill. I like the fact that you take your time to provide thorough, thoughtful answers to the questions that are asked.
thank you Matt, I try to “aim” first rather than shoot from the hip.