I quote from the notes on the YouTube page for this video, sentiments I agree with:
Published on May 17, 2015
Writer & Researcher Bill Holter joins me to discuss the latest as we document the collapse. Over just the past week, Bill explains, “all hell has been breaking lose” in the global credit markets.
Bill wants readers of SGT Report to understand that “the stock market(s) are merely a side show to the grand Big Top circus of the credit markets because the credit (bond) markets are so much larger than the equity markets.” And Bill says when the credit markets implode – EVERYTHING will implode.
So how will it all end? Bill explains, “This is going to be an overnight or over the weekend type of event where you have what you have on a Friday and you wake up on a Monday morning and you can’t trade anything and you’re locked in to your position. So it’s absolutely imperative that you have what you WANT to have, because you won’t have a chance to change it” And Bill asks, “Do realize that gold and silver are THE only monies out there that are not “credit based” or derive their values via the credit markets … markets which will ultimately will be closed?”
The choice is yours, paper brokerage account statements and ones and zeros on a computer screen, or real physical wealth. The time to make your decision is running out.
End of quote.
I take note of synchronicity.
As I was completing the post above, I found the link to an article by Bill Holter arriving in my email, published today. I quote:
Switching gears just a bit, we have seen the “mentality” change somewhat over the last year or so. Even the mainstream is showing some signs of a shift. This “shift” has even become evident amongst and within the “old boys club”. For example, who would have imagined Germany, Netherlands, Belgium and Austria would ever ask for their gold back? Or Texas building its own depository and using the words “not” and “confiscate” in the legislation for proposed repatriation?
Several very well known and at one time mainstream money managers have publicly told of the dangerous situation. The latest is a bond manager who has gone entirely to cash, how’s this for putting a crash helmet on?
Just a few weeks ago, Bloomberg put out an article asking if China could gold back the yuan. This was significant because no news source (other than maybe Kitco) has been as bearish and slandering regarding gold than Bloomberg.
Going to the beginning and back to the top, who exactly was correct in 1999-2000? Who was correct from 2005-2008 about an impending crisis? The answer of course is the very same people screaming bloody murder today “the financial system will come apart from the seams”. Are those who were correct before, now “crying wolf”? Or are they saying the same things for the same reason and forecasting the same results as before? “They” (we) were not crazy then and are not crazy now. In fact, it is even much easier to see now than previous. As a side note if you recall, we heard in late 2008 and 2009, “who could have seen it coming”? Or, “no one could have seen it coming”. This is dead wrong! In fact, even within the mainstream press there was a concerted effort to silence the truth. For example, Greg Hunter while at CNN tried to warn of the banking collapse. He was told “don’t go there” and was rewarded by having his contract not renewed!