COMEX Default Is Coming Soon-Bill Holter…”This is a seminal moment for the entire Western financial system. . . . It could be any day. The default is coming.”
By Greg Hunter
USAWatchdog.com
04/23/2016
According to financial writer Bill Holter, we are getting to the end of the gold and silver price suppression game. Holter contends, “Because the inventories are so small, silver and gold registered categories (at COMEX) total about $1.2 billion. That’s nothing in today’s world. That’s less than one day’s interest the U.S. pays on its debt. I don’t see this going for a long time because inventories are so small. . . . This whole suppression game on gold and silver was brought about to protect the reserve currency, the dollar, because gold is a direct competitor with the dollar. If the silver market blows up, and I shouldn’t say if, it’s when the silver market blows up, that’s going to blow the gold market up, and that is basically going to expose the fact the West is a fraud, that the gold and silver markets were a fractional reserve Ponzi scheme. That’s going to blow confidence, and you are going to see derivatives blow up all over the world, and markets will be closed in a couple of days.”
Holter, who is also an expert on gold, goes on to warn, “The world runs on credit, and you going to Walmart or a grocery store each week, the stuff doesn’t appear on shelves, it gets there by several layers of credit. . . . Silver is a teeny tiny domino compared to the whole system, but it will lead to all the dominos coming down. China and Russia know this. It could be two days, two weeks or two months. It could blow before the market opens on Monday morning. You tell me when someone steps up to buy twice as much silver than COMEX can deliver, and that’s it. It is done. This is a seminal moment for the entire Western financial system. . . . It could be any day. The default is coming.”
If criminal bankers would not have conspired to suppress gold for the last several years, what would the price be today? Holter says, “You couldn’t have $5,000 or $10,000 gold and 0% interest rates. I think there would have been a panic into metals (gold and silver) by now because the price suppression has been used to hit people’s emotions. It’s been used to hurt their psyche. I think if they had not dumped all this paper to suppress the price, the pot would have already boiled, and there would have been a run on the banks and a run into the metals.”
So, if the banks would not have criminally suppressed the price of gold, we would already have a gold price that would be thousands of dollars higher than today. Holter says, “Yes, absolutely. Gold is real money that cannot default. That is what this is all about. When the whole system defaults, what’s going to be left standing–gold and silver, real money. They are no one else’s liability.”
Join Greg Hunter as he goes One-on-One with Bill Holter of JSMineset.com.
(There is much, much more in the video interview.)
