X22 Report's latest interview on December 15, 2022 is with Bill Holter. Holter is a well known financial writer and gold expert and also a broker at Miles Franklin.
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First, they discuss Elon Musk and his buyout of Twitter and the expose' release of the Twitter Files by independent journalist Matt Taibbi, revealing behind the scenes activity between 3 letter government agencies and twitter employees, some of whom previously worked at some of these 3 letter agencies. Holter calls this 'another conspiracy that's come true'.
"My opinion is that it was money well spent" he said, referring to Musk's $44 Billion purchase of Twitter. "It was an excellent buy for the plans that he had to turn this into a true platform of debate where the truth can be heard and seen". Because of this, he expects a flood of new twitter users and of course, that's good for business. He also believes Musk's purchase of Twitter was deliberate in the sense that he wished for the truth to come out.
The conversation then goes on to talk about the definition of inflation. He describes it as "a direct correlation between the expansion and contraction of money supply". When the 'end' comes, "You would see inflation of the things you need and deflation of the things you have". He says we are close to an inflection point. He expects some kind of event to occur soon in the financial markets and it's not going to be good.
He believes we are already in a recession as he points out we've had 3 consecutive quarters of negative growth but even worse, he states that we are headed for a depression. If that's true, let's hope it's short lived!
Holter says the entire world is more leveraged than at any other time in history. "In an over-leveraged economy and an over-leveraged financial system, the absolute worst thing you could do is raise interest rates and what have they done? They've raised rates harder and faster than anytime since the late 70's and 80s".
(Mike Maloney has shown charts proving it's the biggest and most aggressive rate hike ever!)
He further says, "I don't see how we can avoid a depression at this point. Everything is so inter-connected with the use of derivatives which most people don't know or understand what they are but when this is all said and done, the word 'derivative' will become common place" as more people understand what happened. Holter sees an implosion coming in the derivatives market.
He believes there will be two resets as a result of the derivatives blowup. One, a man made reset in which the central banks attempt to introduce a new digital currency but is doomed to fail and a second reset, a 'Mother Nature' type of reset.
I like the 'Mother Nature' reset much better. A central bank digital currency would be able to track wherever you spend it and could even have an expiry date or limited for use within your vicinity. Something like that is very dangerous, in my opinion.
The discussion moves on to the topic of China's President Xi visiting Saudi Arabia last week and signing letters of intent for energy deals and accepting Yuan as payment for oil. This can and will have a huge impact on the U.S. dollar which is nicknamed the Petro-Dollar because of its close ties to Saudi oil.
Those ties don't look so close anymore. It makes one wonder, 'What will be left to back the U.S. dollar?'. Will it be gold? Around the 30 minute mark in the interview, Holter says "You can never have a gold backed currency because there's not enough of it. The answer to that is that there's not enough of it at the current price".
He then mentions that he'd made a calculation that if the U.S. were to use the gold just to wipe out the national debt, one ounce of gold would have to be priced at $125,000!
How about that. I wrote an article last winter on the subject estimating a similar amount, $112,000.
Peace and Love to everyone.
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