Huge News Coming Out Of China! Your Gold & Silver Are About to Become Very "Priceless" - Bill Holter
Huge News Coming Out Of China! Your Gold & Silver Are About to Become Very "Priceless" - Bill Holter
The US dollar experienced pressure in the first half of Wednesday's session, continuing the decline from Tuesday, influenced by various internal and external factors. This dollar weakening has coincided with a significant rise in gold prices, which began in late 2022 when gold was trading at 1600 dollars. This increase in gold has been driven by substantial central bank purchases, spurred by the US's "weaponization" of the dollar, exemplified by freezing Russia's central bank foreign currency assets as part of sanctions following the Ukraine invasion.
Bill Holter is a precious metals expert at BillHolter.com, known for his in-depth analysis of economic trends. In his analysis, Bill Holter suggests that central banks fear rising gold prices but are even more worried about silver. He predicts that if gold reaches 5,000 dollars, it would signal a collapse in confidence in fiat currencies, marking the end of an era. Regarding the physical markets, Holter notes that they are starting to override paper markets, with significant movements in metals beginning last.
While emphasizing silver's undervaluation compared to gold, Bill Holter has persistently championed the ratio trade. He foresees a scenario where, if the current ratio of 80 diminishes to 40, silver's performance against gold could double, enabling investors to obtain more gold ounces at a reduced cost through silver swaps. Silver prices have achieved remarkable gains during the last quarter of last year and the first quarter of this year, with a fiery start in the second quarter, rising more than 15% so far within just the first two weeks of this quarter.
Undoubtedly, this amazing performance of silver at the start of the second quarter of this year heralds more extensive rises during the remainder of this year, amid expectations of reaching the 35 dollars per ounce barrier before the end of 2024. Concurrently, Holter observes a significant shift from the West to the East, warning that acquiring silver or gold will become much more difficult for those who haven't invested yet.
Federal Reserve Chair Jerome Powell delivered that grim warning to the Senate Banking Committee in early March. He said it's a danger that will face smaller and medium-sized banks for years to come as the effects of high interest rates and commercial real estate troubles continue to weigh on the banking industry.
Highlighting the impending crisis, Bill Holter predicts imminent global bank failures, with current ones merely foreshadowing what's to come. He foresees massive banking system losses, potentially reaching trillions, due to tighter credit and higher interest rates, compared to the 2008-2009 crisis but on a more severe scale. Moody's has a negative outlook on the US banking industry for 2024. Fitch gave the sector a deteriorating outlook, expecting a "moderate amount" of bank failures over the year.
Furthermore, regarding China's economic strategy, Holter predicts they will revalue gold higher and devalue the Yuan to combat deflation, which will appear as a collapse to foreign currencies and drag them down. He notes China's significant debt issues and believes this devaluation will make their debt more manageable.
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