Financial writer Bill Holter says there is better than 60% to 70% chance that another financial calamity will hit in 2015, and it could start from anywhere in the world. Holter contends, “It doesn’t really matter where it starts. It will probably be global within less than 48 hours. The reality is it will go all the way around the world within two days because party “A” will not pay party “B” who doesn’t pay party “C” and on and on we will go. The payment chain will break. . . . I’d like to get back to the point of true and real settlement. If nations don’t settle honestly amongst each other, that is how your trade wars start. That’s how one neighbor believes another neighbor is ripping them off. This is how wars start, and that is what this is about: the rest of the world wanting to trade and wanting to do business mutually and evenly and getting paid for trade. In the past with the dollar, the U.S. has gone into many places; and after the deal was unfair, they paid with dollars, which is an un-backed freely printed currency. That’s what the world is upset about. That’s what this tipping of the balance is about.”
Holter goes on to point out, “Greece has got to be hidden. The fact that they are broke cannot come out. If Italy or Spain or anyone else were to default, that would be calling a spade a spade. Once the daisy chain breaks, it will lead all the way to the West, and it will lead to London and it will lead to New York. It will lead to the fact that the gold is gone. That’s the great fault. That is the fault at the core of all of this. That’s why they are kicking the can and kicking the can because it can never be discovered that the gold is gone. Once that is discovered, it’s over.”
So, what will it look like to the man on the street when the next crash happens, Holter predicts, “On the streets here in the U.S., you are probably looking at total chaos. . . . Once the banks go, especially in the cities, you are going to see complete chaos because the average person has about three days of food stocked up, or maybe five days of food stocked up. When the banks go down, distribution will stop. When distribution stops, the stores, and you just saw this in the northeast, the stores are wiped out in a day or two. They have just-in-time inventories. It’s not like they have loaves of bread sitting in the back waiting to be put on the shelves. Once distribution stops, the shelves will not get replenished. Truckers will not be paid, and you can take that all the way down to the farmer. Everything is run on credit, and once credit stops, it’s over. When it’s over we have 48 or 50 million people on food stamps . . . those people don’t have any food stocked away. So, there is an immediate 50 million people who will be out on the streets looking for food. . . . If you go back to the Great Depression, you had bread lines. There are bread lines today, but the lines are the little EBT cards, and there are 50 million of them. . . .All is not well because we have 15% of the population who can’t even feed themselves.” How long would people have to be on their own until the government got credit lines running again? Shockingly, Holter predicts, “I would say the absolute minimum would be three months. Yeah, I think three months is the absolute minimum to get things back to ‘normal.’ . . . It’s hard to say. Again, with what’s going on, I would give it a 60% to 70% chance of a major financial collapse before the end of the year and the jig being up.”
Bill Holter writes about four fresh articles a week that are free to the public. If you want to keep track of Holter’s work you can click here. There are other writers and free information on the homepage of MilesFranlin.com.
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.