Bill Holter joins Greg Hunter of USA Watchdog.com to discuss negative GOFO rates, the reason why gold and silver prices are manipulated down is to hold up the value of the dollar, the Swiss referendum.
Gold is Kryptonite to the Dollar
by Bill Holter | Nov 26, 2014 | Interviews and Appearances | 46 comments
Great interview Bill. Thanks for giving us such a complete picture of the issues. Your reference to the Grandmaster article was the first time I heard of that … great article. I passed it on to a friend who passed it on to an influential planner at the Pentagon. I appreciate all you do.
thanks Brad, I was being 100% honest when I said I wished I had written the article. That piece is beyond brilliant and 100% pure unadulterated logic. I can only say it was “beautiful” like some sort of Master’s portrait, I am jealous!
I saw two versions of that article, this one is a longer version if you haven’t seen it.
Good morning Bill,
Just listening to your interview with Greg Hunter and this is my take on the entire situation.
To begin with I think the truth is that for the most part the facts are either being hidden or manipulated.
In the last 2.5 years or so that I have been following this story of Fiat vs. Real Money I have spent hundreds of hours reading and or watching interviews.
At first I was concerned that I and many others would not have time to position ourselves into a Safety Zone so to speak.
But as you mention in your interview…Russia and China are likely not yet ready to pull the economic rug from underneath the feet of the western manipulators.
The East has used the Western hubris and arrogance against them and have slowly been pushing them up against a wall.
Andy Hoffman likes to refer to movies in his articles.
Here is my take on doing the same.
The great train suspense movie with Gene Hackman NO Way Out.
That is the situation that the West is in if in fact their gold is gone.
They have no way out. All they can do is to try and extend the life of the lie any way they can.
But the life of the lie is nearly over.
The Dutch have their gold back or do they……I want to see proof.
Now the French are looking to get their gold back…
The Germans have seemed to back off.
Who is next that will see through the lie.
The Swiss this week decide if they want to return to sound money principles…
By now the liars must be beginning to run out of tricks to fool us…
Soon the folks like you Bill and the rest of the MF team will begin to receive the accolades you deserve for your efforts to get the truth told.
In the meantime us little people have to listen to people like you and Andy Hoffman and the many others that have been telling this story. Time is short and we must step up our efforts to prepare before we too Have No Way Out.
accolades? or be silenced as Mike above suggests?
Forgot to mention one last item.
The next Desperation move will be Censorship.
The Angels of truth like the MF team and the dozens and dozens of others that are trying to get the truth told will be silenced.
Doubt that…Ask around and you will see that this has already begun….
It is time to quietly prepare yourselves.
The DEBT based monetary system is almost on life support.
The only other option left is WAR.
That is why the West is Challenging Russia.
War always needs a bad guy.
The message medium that the MF team and others are using to tell the truth will soon be shut down.
BET ON IT.
you are probably and sadly correct.
thanks for the great articles . I have a question if gold is costing more to take out of the ground than they can sell it for why mine it ?? no really i have heard this for years yet they still mine, heck i love the gold rush show and they seem to profit ?? and silver below production cost ?? really I thought it was a by product of zink ,iron ore indium ETC…. so how can silver be below cost if its just metal that is a bonus find set of to the side for sale after they pull iron out which is what they are mining for originally it is in my eyes just a bonus find I think they call this indirect mining now I understand that direct silver mining might be more because their just isn’t that many direct mining companies what would be the point of direct silver mining anyways you can get it indirectly as a bonus the cost is factored into finding iron ore not silver so no i dont think silver is more to mine than its worth every yar this time of the year its the same story at this time of the year .i spoke to my local dealer he says hes still selling silver maples out of monster boxes dated 2011. tru story aparently his vault is full of 50oz and 100 oz bars to the brim .maybe hes a terrible dealer
Yes SD, silver is a by product but for pure silver producers the cost to mine is over $20/ounce. Gold is $1,200-$1,300. This is year round, not just “this time of year”. Your dealer must have bought some boxes from a customer who sold if he is selling backdated coins, very few are now available for sale. Current pricing is like $2 per pound filet mignon, that is why the mints have sold out.
Meanwhile, Silver is down about 45cents this month and Gold up about $2 for the month.
Both continue in a strong downtrend.
I am not sold on the manipulation story.
Rather its deflation. Just about everything is going down except SP.
Gold and silver are getting dumped on the bid in order to raise dollars.
Just because some mints in the USA are running out of current stock in no way means there is a shortage of supply.
It is true that backwardation should not occur in Gold as it has recently and also as far back as 2008 but they have turned out to be temporary as this likely will.
I think PM’s will continue to fall in price and that there will be ample time and opportunity to buy physical despite Bill’s worries about being a second too late.
Re interview..a bit rambling but that was more to do with Hunter’s poor questioning.
I have been to USA a few times and have always found americans to be very hospitable, helpful and friendly. Once my wife and i were invited to a thanksgiving with a family we barely knew and it was a great day..good times.
Is this the lull before the storm or is next week simply going to be more of the same.
Even if the Swiss vote ends with a NO the situation has not changed.
The world is still buried in debt that it can never repay.
The fiat currency system is still breathing foul air.
Today precious metal prices were attacked. I rather doubt that anyone here was surprised by that action.
Is it possible that in the next day or so that we see some sort of black swan event that is meant to derail the Swiss vote….
In my view anything is possible.
Thee is no doubt that we are seeing a major rise in the numbers of people who choose to think for themselves.
Most here choose to believe that China has been hoarding gold for 3 decades.
If gold is such a barbarous relic why have gold producers mined and produced tens of tons these last 3 decades….Why produce something nobody wants.lol
If North Americans have not been buying this gold who has….
At least we know those reading these comments can think for themselves and are not buying the swill most western governments put out for us to digest.
What physical precious metals I have been buying I am buying so that when it comes time for me to move on to another place, I know I will be leaving my family with real money not a bunch of worthless pieces of paper currency.
Unfortunately the silver open interest has fell dramatically and according to Harvey Organ, it is now a paltry 4000 contracts ie less than 20 million ounces (excluded the nearly 8 million ounces that was asked for delivery friday 28th december). The situation in gold is a little bit different where not much contracts was stepped yesterday but the open interest in december gold contracts is still quite high. We will know more on that monday I guess as some were in holidays maybe.
It seems that nothing special will happen one more time on the comex and as I ever wrote before, I feel that if something will come, it will not from comex but from the east where the show in precious metals is.
Have a nice week end.
very strange that almost non of the open interest rolled with no cost to do so?
Well it is the decision hour.
Just looked into some of the propaganda efforts late in the day Saturday against a yes vote and the no side seems to be doing what we expected.
It is my personal view that the odds are against a yes vote even if I believe sound money rules is the smarter direction long term.
I read this morning that a yes vote would likely mean a 50.00 spike in the gold price.
I hold both physical silver and gold and the total investment value of each is almost even for me.
I think that percentage wise my silver will do better than my gold but what really matters is that this small holding is a long term thing for me.
Neither my gold or silver is for sale at any price.
No amount of unbacked fiat currency could cause me to want to sell this stash.
So regardless of the Swiss outcome it is just a matter of time before we see a number of present day fiat currencies falter.
One match can destroy a fiat bill easily where as one match would hardly tarnish an ounce of gold.
That is how I keep it into perspective.
If the vote goes no watch the western bankers gloat and misrepresent the outcome.
the odds highly favor a no vote.
Well welcome to the NO WAY OUT GANG Switzerland.
You unlike the rest of us had a choice.
You could have voted to return to a gold backed fiat currency and emerged with the strongest fiat currency on the planet.
Instead you chose to believe in the Central Bankers.
Now you drown like the rest of us in DEBT and currency devaluation.
Tying yourselves to the euro will likely end in disaster.
A sad thing when society would rather believe lies than the truth.
yes, they blew it big time!
Here comes the time of the paper gold/silver massacre this week…
could be but it will only unleash further physical demand in an already tight market.
Sad to see that the vote wasn’t even close.
There is no winning out here for the banksters.
The longs like us retail buyers must not throw in the towel, rest assured that the East and Russia will continue buying Gold. China has likely been building this large gold position for decades. As long as they have been able to rob us of manufacturing jobs and resources they have had the means to build up this war chest of Gold.
Yes the banksters have won another round today, but this is only a short term win.
The Western bankers and their fold (bought and paid for politicians)have accomplished their goals.
They have nearly total control over most of us and many have little to no financial ability to stop them.
We cannot be blamed for this because we did not know what was really going on.
Many of have been way too pre-occupied with watching sports and reality TV.lol
Yes no doubt there are some who think this is funny.
But hold on…I DO NOT GET IT… why is their win only a short term win for them….
Because in the end Gold is real and fiat is not real…
When they are no longer able to manipulate the real stuff (Gold)with fools gold (paper) the reality of the situation will cause everything to crash.
Now some believe that this is in fact what they want.. The Globalists want to cull the population numbers just like we culled the numbers of predators (wolves)some 100 plus years ago.
If we continue going done this path and the system does fall apart the desperate, (those that have not prepared) will be coming after those that show wealth first.
That is when the elites had better have major forces protecting their compounds.
In the meantime we need to continue what we are doing…getting the truth told and preparing for what is coming.
The only failure is the failure to prepare when the evidence was in plain view.
keep on stacking …everything!
Who knew that the day would come that the prepper way would become mainstream….
Stack some physical gold and silver.
Stack some high protein foodstuff..nuts and dried fruit works.
Stack some cash..
Buy some water purification tablets.
Own a generator..for basic electrical needs..
Home depot has a great unit that takes little space and is whisper quiet.
These are simple steps that most can manage..
Knowledge is power. Empower yourself with knowledge.
not mainstream but getting there.
Bill, I have a lot of respect for you and Mr. Sinclair. You came back to “our” country to make your stand. At Sinclair’s last meeting, he admitted to also making his stand in his country, somewhat jokingly saying he may reconsider if gold got to $50,000. I commented to you last Wen night and confessed my fears of a major downturn not if, but when the Swiss Initiative failed. I had no idea it was going to be a ugly black friday for gold, silver and shares, making ugly weekly and monthly bars setting up a disaster for tomorrow. Sinclairs possible $1000 call looks interesting combined with Rick Rules call for utter capitulation in the shares a month or so back. I am committed and am forced to endure and unfortunately, family and friendship is being put to the final test right now. I do not believe I have more than a week left. THIS IS IT, THAT BATTLE ROYAL. I am scared of course, mainly because I did not listen to a little voice in me that I normaly do. Ignoring the dollar rise was just wrong. It is out of my hands now and destiny reigns. Good luck to all in this battle
the danger of course is a smashdown followed by a closure where there is no opportunity to get back in had you sold.
We are now at risk of a final smashdown as Bill said where the powers to be steal from those capitulating not just their physical gold but their shares in depressed miners as well.
Then those in control turn the table and bid the prices back up.
Why do you think that China has not really complained about the manipulation…
Because the West has been played and those in charge now know it.imho
China and Russia may soon crush the economic strength that the West used to push them around with….
We live in an ugly world and we are as responsible as anyone for what we are about to be served for dinner.
Hopefully when tis is done we still have the ability to buy dinner.
yes Mike, a standard of living change.
Bill, Mr Sinclair did say the fraud and corruption is at unbelievable levels. I just head the Rob Kirby interview where he stated it would cost someone 1800 an ounce to buy large tonnage quantities (if they could find it). It is not that I want to disbelieve him, but would not the Singapore and other physical exchanges reflect that if it were true? Would not other people in the know reveal that? Why would an agent on their behalf not clean out all the American dealers who have inventory? I just was wondering out loud how it can be that bad.
But most will not be able to cope.
Social unrest is going to be living near you soon.
Ferguson is just a sample of what is coming.
That is what we need to prepare for as well.
As of now, how do you feel about those two previous Friday outside reversals that you were proudly touting? Are you, also, ready to call another bottom in gold and silver, again …a 3rd time? Oh, and I guess the COMEX got cornered too, eh? Still comparing notes with Harvey Organ on China as the big silver long at the CONmex?
Shall I jog your memory of spouting about “golden crosses” and “mac- d crossover” from earlier this year, implying they were bullish indicators? Isn’t there always! And if its not in the charts, then, the fundamentals will prevail, lol!
Silver’s got a $14-handle now? I’ve lost a lot of net worth listening to you, but that’s my fault in the end, as I should’ve known better than to trust the “free” advise coming from a former broker and banker. Ah well, I feel so much better knowing that you’ve been a retired rich dude for a long time already with your hobby farm/ranch living the good life. So, why not write some PM pumping articles, while the gold/silver tank the whole time and make some extra spending cash for the wife.
So long, Bill, last from a long list of PM pumpers/gurus. You are now my best contrarian indicator. Its too bad I learned this truly costly lesson so late in the game.
Merry Christmas specials, everyone! Keep stackin with Miles Franklin!
explain to all of us “how” 40 tons, 80 tons and 40 more tons of “gold” were sold over a total of 45 minutes? Was it real or was it fabricated “fiat” gold”. I have written what I believed and if you think I write to mislead, you are mistaken. I understand you are not happy, neither am I as net worth in dollars is down but I own more ounces now than ever before. The end game will be counting ounces, not dollars.
glad referendum failed, and pm smacked down. It’s unbelievable opportunity to buy more.
Gold is now in backwardation to Dec 2015.
That is not good news. It has happened before,but it should not.
I am thinking it will not last…however ???
Time to go long.
As Bill said gold will be the last man standing… REGARDLESS.( my emphasis)
One final thought..you cannot own too much gold !
please read my piece today, either price, or supply, are wrong. It is one or the other.
For the last few months a thought keeps haunting me.
Everyone here knows the extremes that some have gone to in an effort to keep this ponzi scheme going.
Everyone here should also realize that we are beginning to see actions that cause us to believe there are no limits to what they will do.
For that reason I want to make a prediction here.
I predict a major escalation in the effort to silence all of us sharing our thoughts on the subject of the true financial condition of the world economies and fiat currencies.
I only hope that I can convince those close to me to begin preparing for what is coming.
I hope that everyone here appreciates the true efforts and sacrifices that all those involved in this effort to get the truth told.
In addition to time they are also very much taking great risks.
I follow the writings of probably 20 people involved in getting this story told and it has been an eye opening experience.
At any time we will likely see an escalation in developments.
all in my humble opinion
it can unravel at any time with ZERO notice!
I agree and many have no idea what is coming and even when it comes there are many that will go into denial mode.
As they move out of denial they eventually move into the anger stage and that is when it will get ugly.
That is why we must prepare..
Watch for one possible final last blow to gold before the trend turns upward. When it turns it will likely go ballistic.
Word is Asia is already paying a 50% premium on gold for serious tonnage. see Rob Kirby recent interview.
the denial stage is going on right now, anger will explode overnight when it comes.
At your convenience, could you please explain what has taken place to date in respect of the large December OI positions, and where we stand at this point.
…and to what extent are cash settlements at play?
please see my article of Monday, 12/1. They have bled down even further. I cannot prove it but no doubt in my mind cash settlement has played a big part.
First let me say that by almost anyone’s definition, I am a novice in your area of expertise. Having said that, I am convinced (to a large extent by you and others) that the recent large Dec OI contracts were largely held by China.
I continue to search for an explanation as to what happened to the related settlements. There can be no doubt that cash settlements were involved, my guess is at a premium. The question is: “Would China want more FRNs?”. The answer is most probably a resounding “No”. Then what was the quid pro quo associated with these contracts? There is no question that the list of possibilities is a rather long one. Having said that, one that I think should register relatively high on the list is the trades constituting a shot across the bow of the US power brokers. Specifically, in terms of:
– Allowing and promoting a market for yuan trade in the US, and/or
– The US not exercising its veto in respect of the yuan being accepted as a currency within the SDR basket, at the conference this coming October.
I do not need to tell you that China has made great moves towards getting the yuan accepted as a reserve currency. I would think that this would just about do it.
Please let me know your thoughts.
I cannot say for sure Ben what happened to the OI but it is very strange to be so high and then poof…evaporated. All I can say on the yuan, the IMF has had some very disparaging words for the dollar lately.