BillHolter.com

Bill’s Commentary:

“Mark my words, this will be used to tell you after the crash “but we warned you”!”

The Fed and FDIC Wake Up Suddenly to the Threat of Derivatives, Flunking the Four Largest Derivative Banks on their Wind-Down Plans

Since the financial crash of 2008 and the Fed’s multi-trillion dollar bank bailouts that followed, the Office of the Comptroller of the Currency (OCC) has been waving a giant red flag every quarter in its “Bank Trading and Derivatives Activities” reports. For sixteen years the OCC has been reporting that just four megabanks are responsible for more than 80 percent of the trillions of dollars in bank derivatives.

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Bill’s Commentary:

“Update; I posted the below commentary and chart last weekend regarding silver, it is still valid. We are a week out from this writing and things still look similar if not better as we have another week of building the base. I believe within a week to 10 days, the MACD at the bottom of the chart will form another hook, and then crossover to the upside. With all of the surrounding financial, political, and geopolitical catastrophes building, my target of $34-37 in the medium term may end up being modest?”

”Is silver bouncing exactly where it is supposed to? $29 is support from the previous highs back in April and also support from the 50 day moving average. Given a week or so, this looks like we may see another “hook” in the MACD turning upwards and crossing over. I think we could see at $34-37 on this next leg but we need to see more work done here digging off support. In any case, a very big move either up, or down is in the cards as we have spent nearly 3 weeks chopping in the $29-31 zone, not overbought nor oversold on the daily’s and coiled for a move one way or the other. Add the fundamentals where silver is in a structural deficit and a snorting bull market/major short squeeze looks likely. Stay tuned!”