Tom welcomes back Precious Metals Broker Bill Holter to discuss the current state of the US economy, the precious metals sector, and the ongoing sovereign debt crisis. He points out how, as a result of higher rates, the available collateral is shrinking – rates are now back to 2001-2002 levels and an affordability crisis is rapidly unfolding in real estate, a large part of the economy. Although these consequences are not yet being priced into the stock market, the real economy will suffer. He then discusses the risk of default in the futures market for gold and silver, and doubts the validity of the US’ gold reserves; however, he does believe there is gold that could be mined in the US. Lastly, he explains why the government and the Fed will probably choose to take the easy way out by printing more money to cover obligations – this will ultimately destroy confidence and the dollar.

Time Stamp References:
0:00 – Introduction
0:34 – Debt Foundations
4:34 – Rates & Lag Time
7:06 – Risk & Protection
11:25 – Silver Vs. Gold
13:23 – Dollar Decline
15:40 – Revaluing Gold
17:17 – Failure to Deliver
18:40 – Currency War Risks
19:32 – C.B. Gold & Audits
23:38 – Inflate Debt Away
25:04 – Dollar Confidence
27:24 – Wrap Up

Talking Points From This Episode

• Rates are now back to 2001-2002 levels and an affordability crisis is rapidly emerging in the real estate market.
  
• The US’ gold reserves are likely to be lower than stated, but gold can still be mined in the US.
  
• Printing money to cover obligations will ultimately destroy confidence and the dollar.
  

Guest Links:
Website: https://billholter.com
Email: bholter@hotmail.com

Bill Holter writes and is partners with Jim Sinclair at the newly formed Holter/Sinclair collaboration. Prior, he wrote for Miles Franklin from 2012-15. Bill worked as a retail stockbroker for 23 years, including 12 as a branch manager at A.G. Edwards. He left Wall Street in late 2006 to avoid potential liabilities related to the management of paper assets as he foresaw the Great Financial crisis coming. In retirement, he and his family moved to Costa Rica, where he lived until 2011 when he moved back to the United States. He was a well-known contributor to the Gold Anti-Trust Action Committee (GATA) commentaries from 2007-present.

Bill has retained a working relationship with Miles Franklin and can help with your precious metals needs, including transacting, shipping, storage, and even safe deposit boxes in non-bank vault facilities. Feel free to contact him with any of your questions or needs.