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Economy
See other Economy Articles

Title: COMEX Default Is Coming Soon
Source: USAWatchdog
URL Source: http://usawatchdog.com/comex-defaul ... g-soon-bill-holter/#more-17233
Published: Apr 23, 2016
Author: Bill Holter
Post Date: 2016-04-23 21:03:06 by U don't know me
Keywords: None
Views: 743
Comments: 4

COMEX Default Is Coming Soon-Bill Holter By Greg Hunter On April 23, 2016

By Greg Hunter’s USAWatchdog.com (Special Release)

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.”

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#1. To: U don't know me (#0)

Well, the other day gold was around 1250, and silver was about 17.00. I can remember when gold was under 300.00, and silver was under 3.00.

Wonder how high they will go?

Si vis pacem, para bellum

Those who beat their swords into plowshares will plow for those who don't

Rebellion to tyrants is obedience to God.

There are no Carthaginian terrorists.

President Obama is the greatest hoax ever perpetrated on the American people. --Clint Eastwood

"I am concerned for the security of our great nation; not so much because of any threat from without, but because of the insidious forces working from within." -- General Douglas MacArthur

Stoner  posted on  2016-04-23   22:12:28 ET  Reply   Trace   Private Reply  


#2. To: U don't know me (#0)

These rumours are total nonsense as they have been circulating for decades.

buckeroo  posted on  2016-04-24   7:32:49 ET  Reply   Trace   Private Reply  


#3. To: U don't know me (#0)

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.”

You do know we have been therefore and it didn't lead to the end of the world as we know it. I do agree that derivatives which are used in such transactions are dangerous and facilitate overcommittment and gaming the system. Silver is a commodity that is used in manufacturing, so is gold so it has a function other than an investment. I expect we will see Gold rise again in price and this is becuase of the vast oversupply of money, It has to go somewhere

paraclete  posted on  2016-04-24   8:25:21 ET  Reply   Trace   Private Reply  


#4. To: Stoner (#1)

If a wise and prudent man were to put 10K into silver, he will most assuredly will have a safe insurance policy. Silver will be selling at $200 an ounce before we reach 2020. At the price it is today, it is a bargain.

jeremiad  posted on  2016-04-24   16:42:04 ET  Reply   Trace   Private Reply  


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