How about the U.S. debt problem? Holter says, “That does not and cannot work for the U.S. because we have offloaded our gold. Simple math tells you the gold that China received has to come from somewhere, and that only somewhere in the world is Western U.S. vaults.”
Could the U.S. still have its more than 8,000 tons of gold? Holter says, “That’s pure ‘hopium’ that the U.S. still has their gold. Common sense and logic tells you that the gold is gone.”
So, has the U.S. budget and debt ceiling deal fixed anything? Holter says, “If they didn’t raise the debt ceiling, there would have been an immediate implosion. You have to understand, Americans are the only people on earth that aren’t laughing at the debt ceiling. Foreigners are laughing at it. You are talking about $20 trillion. It can’t be paid. We are at 110% of GDP already, and we’re the reserve currency.”
Holter goes on to say, “It’s another bubble. It’s going to burst, and the banks are in worse condition now from a debt to equity standpoint. Nothing has changed–it’s just bigger.”
Holter worries about possible deals between Saudi Arabia and Russia that could impair the petro-dollar. Holter says, “The (dollar) dam is leaking, at this point, because there is less and less use of the dollars around the world. . . . If Saudi Arabia were to say we’ll accept euros, yuan or rubles for oil or if they said we won’t accept dollars anymore, that’s like pulling a
Holter says there is “no rule of law,” and criminal activity has suppressed the price of physical gold. Holter says, “We have been through a four year period of time where paper gold has been pounding the price of physical gold. You have people who were strong legged, hard money guys who are weak in the knees now, and they shouldn’t be. My hope is we can strengthen some weak knees, to not sell you only insurance in a financial Armageddon. It
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