(29:19)
Bill Holter of billholter.com talks with Patrick Vierra of Silver Bullion SBTV, where they discuss:
- People moving out of the system and into something safe (gold/silver)
- USDX is just currencies vs other currencies, but not real, because they are all unbacked
- Confidence is being lost in the US
- Saudi Arabia trading in non-dollars, which really reduces demand on the dollar
- Brazil and Argentina announced that they are working on a joint currency (no longer trading in dollars)
- Dollar dying because of the loss of purchasing power, de-dollarization and currency crisis according to Patrick
- Though Bill doesn’t expect the dollar to go to zero, we will see an extremely high devaluation
- Power in the wrong hands, where the US was bled from its gold in the 1960’s, eventually leaving the gold standard in 1971
- “To be able to create unlimited credit, it falsified everything”
- Bill says this is where President Eisenhower warned us about
- “No cost to do war” (when off the gold standard and being able to print money)
- Bill brings up a good point, the first thing any military does when they win, (throughout history) is they take the gold
- Need a crisis to be forced to rebuild
- The US have lost trust of the world
- Moving away from the dollar
- The Federal Reserve is the buyer of last resort of US treasuries and are currently being forced to buy
- “All the lies that we have been Fed are coming home to roost now”
- “Gold and silver cannot bankrupt”
- “World is collectively defaulting”
- It’s game over…trying to push us into CBDC’s
- Without the US dollar having relevancy and the US military loses its prominence, the US loses its global influence
- The GDP growing by 2.9 %, Bill calls a “complete joke”
- Bill says the economy is contracting and to look at the housing/car markets
- “M2 Money supply is actually down 5% over the last 15 months”
- Bill can’t find any time in history where money supply is even down 1% over 12 months
- “The most indebted system of all time, they’ve raised interest rates harder and faster than ever and money supply itself is shrinking”
- “The Balloon is in the process of being blown”
- Bill wonders if the plan is not to crash the whole system? Maybe they won’t pivot? (I personally see no upside to pivoting at this point of time, regardless if they want to save the system or not, I personally doubt the drop the rates)
- Bill says the 2008 crash will be nothing compare to what is coming
- Bill says it will be “many, many multiples of what happened in 2008/2009”
- “This time it’s not going to be just about asset values or asset pricing, it’s going to be about weather people have the ability to buy food and actually survive”
- “Every product that hits the store shelf has many, many uses of credit to get that product to the shelf and when the credit market breaks, everything breaks”
- Credit going down like dominoes, as one creditor doesn’t get paid off, will they be able to pay their creditors.
- “There will be a huge domino chain of credit defaults
- To protect himself and his family, Bill has cash out of the system, gold and silver, stock certificates issued to him, moved away from a populated area, become self-sufficient as possible, water supply, fuel supply (electricity/propane), stocked up on food and started relationships with local farmers.
- Become as self-reliant as possible
- Bill suggests coming home on a Friday and try to live without power and see where your shortcomings are
- Need cast iron stuff to cook over a fire
- Silver will be used during a crash (especially junk silver)
Sound advice from Bill and words to literally live by.
God Bless
Wayne
BillHolter.com 