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Bill Holter: This Is the Biggest Bubble in the History of History

Thursday, February 2, 2017 14:01
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(Before It's News)

It’s easy to understand how people have fallen victim to “Trumphoria” when they look at their recent 401k statements, or they look at the U.S. equity markets at their all-time highs, but looks can be very deceiving. In the following interview with Bill Holter, one of the world’s leading forensic economists, Bill explains exactly why people need to begin preparing for the inevitable.


Notice how his comments are eerily similar to those made by Peter Schiff when he said, the collapse of the U.S. Dollar will be the single biggest event in all of human history! The following is just a brief quote from my interview with Bill that follows:

“We are at all time highs in markets, but confidence is beginning to crack. Some very ugly truths are beginning to come out… “

“All credit booms have ended badly, and this is the biggest credit boom in the history of history…”





Bill Holter writes:

So far this year it has been U.S. and geo politics at the forefront.  Most all of my writings have had the “truth bomb” theme and rightly so as the unveiling of truth will greatly alter markets and thus market pricing and “reality”.  To switch gears, let’s look at a few charts and articles to see where we really are.

First, John Rubino put the chart below out showing where the median S+P company is priced versus their revenue.  Without a doubt, we are at nosebleed levels.  Just a cursory look reveals a reversion to the mean going back to 1986 would see the S+P dropping more than 50%.  If you turn on CNBC you will hear current levels are “normal”, I think not.  

DON’T MISS: Bill Holter: Every Society Is Only 72 Hours From Pure Anarchy 

As you know, the equity markets have blown out to the upside since the election.  It has been my contention that “new money” has been missing.  As it turns out, we had a major short squeeze leaving short interest at three year lows.  Squeeze Over? Short-Interest Plunges To 3-Year Lows  This is very dangerous as we have seen this type of set up many times before …followed by very weak or crashing markets.  Sentiment has become extremely one sided and the bears have been runin, who will be there to buy?  Certainly not the shorts because their buying has already been largely concluded. 

DON’T MISS: Bill Holter: Paper Currencies Approaching Their Real Value: Zero

Another warning sign is mutual fund “cash”, this is now at ALL TIME low levels at just 3% !  Lastly, as depicted by the chart below, insiders were very big sellers into the Trump rally.  Who would know if their company was overvalued better than an insider?

Let’s take a look at the set up for gold.  While I do not like short term charts because they are painted daily, longer term charts are more difficult to paint.  Below is a weekly chart of gold going back 5 years.  There are several things to look at here.  First, notice the “golden cross” (buy signal) that took place in late December.  This is the red and blue line in the main chart crossing over to the upside (the 50 week moving average rising above the 200 week moving average).  These averages move very slowly and normally only cross once in five years.  This is very good and signals a trend change.

DO NOT MISS: The U.S. Will Lose Global Reserve Status, Expect 80-90% Devaluation Of the U.S. Dollar 

Next, please look at the red and blue lines at the bottom of the chart.  This is the MACD (moving average convergence/divergence).  This is much more sensitive to shorter term movements.  Please notice the “hook” at the bottom right of the chart, this is signaling strength coming as it looks to be crossing over to the upside (and from the most oversold level over the last 5 years other than 2013).

While charts are made to be “painted”, the current set up couldn’t be more bullish.  We had a couple of true anomalies over the past week in COMEX gold.  First, going into first notice day, open interest dropped 90,000 contracts in just three trading days. 

DO NOT MISS: Peter Schiff: “Default or Not, U.S. Dollar Is Going to Collapse Either Way” (Video)

I cannot ever remember this happening to such an extent.  Also, the amount of open interest for February rose on the second day of delivery period.  Plus, the amount “served” on day one was about 10 tons or half of open interest.  In the past, we would see very little served early and open interest decline during the month as cash settlements were made rather than deliveries. 

These changes are significant in my opinion.  I have written many times before that it made no sense for contracts not to be served early because of cost to carry (vault fees).  What we are seeing makes much more common sense.  We also have seen for the last seven months a propensity for open interest to increase during delivery period, this is indicative of demand and desire for delivered metal immediately.  The drop of 90,000 contracts may very well signal the banks flattening out positions as a new sheriff comes to town?  We do know JP Morgan took delivery of physical silver each and every day of January. 

If Ted Butler’s claim JP Morgan held 550 million physical silver ounces prior to January is correct, we can add over 100 million ounces to that figure!  As for silver, please read Steve St. Angelo’s latest   Ask yourself what will happen to price should a true trade war break out and we must import so much silver supply to meet demand?  How will this work if tariffs are imposed or …shipments not made?

DO NOT MISS: The U.S. Will Lose Global Reserve Status, Expect 80-90% Devaluation Of the U.S. Dollar 

To summarize, financial markets are extremely stretched while gold, silver and mining shares are coiled for explosive movements upward.  The catalysts (risks) to begin the process are too many to list but I do believe it will involve some sort of “truth” being made known, and accepted.  We stand right in front of the greatest transfer of wealth in all of history, do not be caught trying to “trade” this as you may be caught wrong footed, out, or most likely not even able to react.  Be long “money” as everything else is only credit and someone else must perform in order for you to collect.  Trust in yourself and your own common sense as “trust” worldwide will be broken by some very ugly truths!

Standing watch with great anticipation,

Bill Holter

Holter-Sinclair collaboration

Comments welcome   [email protected]

The following prior article by Bill Holter shows that for the first time since becoming the global reserve currency, the U.S. Dollar is demonstratively being phased out! 


Bill Holter writes:

Be sure to read Hugo Salinas Price’s latest writing titled, The Further Decline in International Reserves. It’s a very short read and represents visually what Richard Russell said for years …”Inflate or Die”. 

Please read it carefully because if you do not understand it, you will not understand “why” mathematically we are about to go through financial and economic disaster. 

Looking at the graph below, you will notice the parabolic move began in 1971.  This was possible because “debt” had previously been constrained by the amount of purported U.S. gold holdings.  De linking from gold allowed literally parabolic growth in new debt issuance. The increase in reserves really started to accelerate around the year 2000 and went vertical beginning around 2008.  These were both years when the economy (and markets) began to seriously falter.  It has been my contention that these years also coincided with “debt saturation” milestones where Kirk called down to the engine room demanding “more power”.

Before moving on, let’s look at how Ponzi schemes work and how they die.  At first, there are few investors so adding even one more sucker to the pile is meaningful as his capital can be parceled out into meaningful “dividends”.  But as the scheme grows, say to 100 unsuspecting souls, one more new investor only equals 1% “payouts” to the group.  Then as the pool gets even larger at 1,000 or more, one new mark is almost meaningless.  As the returns shrink, people begin to look elsewhere and bail out spelling the beginning of the end.  If you look at the above chart again, it pretty much mirrors the birth, growth, maturity and coming death of all Ponzi schemes…doesn’t it?

DO NOT MISS: Peter Schiff: Dollar Collapse Will Be the Single Biggest Event In Human History

Looking at the chart from a real world vantage point, the last two plus years has been more than a minor hiccup …the parabolic “trend” has clearly changed and reversed.  Mr. Salinas Price wrote that Mr. Trump has communicated desires to eliminate the trade deficit which will expedite the decline of paper reserves.  I would remind you what Mr. Trump said yesterday, “the dollar is too high”!  

This is further evidence of a move away from globalism toward nationalism.  A “lower” dollar will help our exports while curbing imports.  This will truly not be good for an over levered world that relies on product sales to the U.S. to pay their debt service.  Another way to look at it is through the eyes of “Smoot-Hawley” glasses, we already know what happens to trade when tariffs are erected, trade volumes implode.

DO NOT MISS: The Dollar Collapse Has Begun; U.S. Bank Failures Soon to Follow (Video)

For the last few years, even with the U.S. trying and struggling to “play the game”, the debt structure had already begun to slow and roll over.  Now with Mr. Trump at the helm, it looks like the U.S. will no longer play the game.  Simply put, “game over” will be rapidly seen and understood as inevitable where no amount of hope will trump “policy” nor Mother Nature!  The credit contraction is here and now, if you know this and understand what it means, then you know where it will all end.


 As mentioned at the beginning, Richard Russell’s most famous quote was “inflate or die”.  With regard to the above chart, Sir Richard was saying “inflation” (growth of debt) must either continually go up AND at an increasing rate …or it rolls over and dies.  This is exactly why for the last few months I have harped on “credit” and why it is so important.  Credit conditions all over the world have been tightening. 

The greatest fear of the Federal Reserve has always been a credit contraction that could not be reversed …their greatest fear has arrived and in spades!  Please understand that “credit” affects EVERYTHING.  Production, consumption and the “ability” to consume, and importantly “distribution”.  Without credit, the economic, nor financial world will turn …which of course will affect the “social world” as stomachs begin to growl in hunger.

DO NOT MISS: U.S. Dollar’s Status as the Global Reserve Continues To Lose Credibility

You see, unlike past “reflations”, there is now little to no unencumbered collateral left (even including sovereign balance sheets) anywhere in the world.  The amount of existing debt (Ponzi clients) is so large, new additional debt (new Ponzi clients) has little to no effect on the entire pool.  In other words, we have reached and past the point of “debt saturation” where the ability to add meaningful debt does not exist. 

The availability to obtain new credit is winding down.  Assets are now in the process of being sold to pay existing debt down, very similar to Ponzi clients asking for their money back.  Mr. Trump’s proposed policies of weakening the dollar and balancing the trade deficit will only speed the process …into complete and utter chaos.  The “utter chaos” part is easily forecast because of debt levels compared to current production, and financial derivatives are often 10 times or many more the underlying assets themselves.  “Orderly” will not be used to describe the coming liquidation process!

Standing watch,

Bill Holter   

Comments welcome,  [email protected]




For those of you who are finally starting to realize there is major trouble on the horizon, largely as a result of the corruption within our own government and the 2016 election, the failure of the U.S. Dollar and Western banks, deteriorating conditions here domestically, or perhaps even because of nuclear tensions reaching all new heights, then I suggest you get your FREE GUIDE for how to survive Martial Law here, because if/when things begin to go south, by then it will be too late to do anything about it. 

For anyone with no idea where to begin making preparations, a very good, and very inexpensive tool to teach you how and what you should be preparing, is a book called “Conquering the Collapse.” Since I’ve practically worn out my own iPad reading my copy, in the following link I provide you with a review of the book: Be Ready For Any Emergency – The Crucial Guide For Any Family’s Safety (Videos)

If you do nothing else, you can learn more about the coming crisis in the links at the bottom under the heading titled, “If nothing else, these links are essential.” The writing is on the wall everywhere… I strongly suggest checking out the post titled, Start “Doubling Up On Your Prepping;” Countdown to Economic Collapse.


Bill Holter: Paper Currencies Approaching Their Real Value: Zero (Video)

Bill Holter: Global Economic System Is Going to Resemble Caveman Times Soon (Video)

Bill Holter: Expect Standard Of Living in U.S. to Drop by 30-50% (Video)

Dr. Jim Willie, Peter Schiff, and Bill Holter: Cracks Forming in Bond Markets (Videos)

Bill Holter: Every Society Is Only 72 Hours From Pure Anarchy (Video)

Bill Holter: Global Elites Proceeding Overseas With Plan For Cashless Society (Video)

Bill Holter: Global Economic Collapse Looming and Criminal Banking Cartels (Video)

Bill Holter: Newly Solidified Chinese Superpower Will Replace Dead U.S. Dollar 

Bill Holter: World Economic Markets Facing Very Dangerous Conditions (Video)






Bill Holter: Paper Currencies Approaching Their Real Value: Zero (Video)

Bill Holter: Global Economic System Is Going to Resemble Caveman Times Soon

Peter Schiff: “Default or Not, U.S. Dollar Is Going to Collapse Either Way” (Video)

Jim Rickards Discusses Looming Shut Down of the Entire US Economy (Video)

Dr. Jim Willie: Worst Bond Crisis in 15 Years, World Quickly Losing Confidence in US 

Bill Holter: Between Now and Election Will Be Extremely Dangerous (Video)

Dr. Jim Willie: We Are on the Brink of World War; Americans Totally Clueless - Pt. 1

Dr. Jim Willie: We Are on the Brink of World War; Americans Totally Clueless - Pt. 2

Bill Holter: Newly Solidified Chinese Superpower Will Replace Dead U.S. Dollar (Interview)

Peter Schiff: Don’t Believe the Hype! The Real Economic Fallout From Brexit (Video)

How Will the U.S. Conduct Trade With Worthless U.S. Dollars and No Gold? (Video)

Why Did Illuminated George Soros Liquidate 37% of His Stock to Buy Gold? (Video)


Reports of Active U.S. Military Drilling for “Authoritarian Rule of Law” (Martial Law)

U.N. Soldier Says They Will Soon Occupy America: “Going Door-to-Door Taking Guns…” 

1,500 Pages of New Documents That Reveal U.S. Government’s Martial Law Agenda (Video) 

Mainstream Media Blasts Alternative News Personality on FEMA Camps (Videos)

Ron Paul: Undeniable Proof Martial Law Is Coming Because of the Economy (Video)

Virginia Police and Homeland Security Doing Exercises for Marital Law Conditions (Video)

Latest News on Government’s Preparing For Civil War or Martial Law (Videos)

Martial Law Convoys Sent to Baton Rouge, Dallas, and St. Paul Before Shootings (Videos)

Pentagon Approves U.N. Use Of Force Against American Civilians (Video)

What Is the U.S. Government Endlessly Preparing For (Videos)

Patriot Films Shocking New Video of a FEMA Camp Recently Discovered in Texas

Major Update to Military Movement and Actual Documentation of Their Plans (Video)

United Nations Troops on U.S. Soil Prepared to Assist With Martial Law? (Videos)

Obama Has Prepared FEMA for All Four Storms… Are You Prepared?

13 States Obama Is Using for His Nefarious Secret Agenda (Video)

Obama: Be Ready For EMP Attacks, Engineered Pandemics, Earthquakes, and Martial Law

How Likely is Martial Law in the US, and What Happens Under Martial Law 

Law Enforcement Preparing For Rioting on National Scale (Videos)

All Armed Americans To Be Detained In FEMA Camps Starting In 2017? (Video)

Beware of Martial Law: Obama Will Confiscate Firearms Of All 50 States in 2016

Army Not Prepping for Battle; Training For Riot Control and Martial Law

Pentagon Says Preparing For Huge Civil Unrest in U.S. (Videos)

Political Dissidents Homes Being Marked By FEMA Prior to Martial Law?

Government “Threat List:” 8 Million People To Be Detained Immediately


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Total 4 comments
  • b4

    i can hardly wait–my 1.2 million$s in gold/silver holding will go to the moon–the rest of you can suck eggs

  • 123’s of true Christianity v popular & damnable heresies
    (simply because you “confess” it does not mean you actually are, the devil has deceived many of his own children to believe they are Christians 2Tim 3:5)
    #1 “ONE” not triune: Isaiah 9:6. For unto us a child is born, unto us a son is given: …: and his name shall be called … the everlasting Father ….The son & father are the same person, NOT like two different persons working together even as “one flesh” ….The “oneness” between Christ and the father is not comparable to a man & his wife, for only a fool would say “When you have seen me you have seen my wife, how sayest thou then, Shew us your wife?” Notice they asked to see THE FATHER and the response was Jn 14:9 ..“HAVE I BEEN SO LONG time with you, and yet hast THOU NOT KNOW ME, Philip…..Now image some fool trying to claim that statement if you asked to see his wife!?!!? You want to see the FATHER but have I been with you but you don’t know me!?!?!

    “WHO” it was (what person) that came “IN THE FLESH”, IS THE DETERMINING FACTOR IN WHAT IT MEANS TO BE “ANT-CHRIST”! Even Islam claims Jesus was the Jewish messiah/Christ who was to come in the flesh) they all deny “WHO” it was (what person) that came (to be the Christ) in the flesh!?!…….To deny the father is to deny the son because they are one and the same person that came in the flesh!


    The whole point to Gal 3:20.a mediator is NOT A MEDIATOR OF ONE, (HEIS) but GOD IS ONE. (HEIS) again, point blank, identifies the number of persons of God! The “but” points out the contrast between multiple persons in a mediation party v the “one” of God. God is not like a mediation party with multiple different persons. …..”the express image of his person” ( the person of God; singular not plural).Any attempt to lay claim otherwise is willful ignorance and delusional nonsense

    Jn 14 continued….…………..17. Even THE SPIRIT OF TRUTH; (Jn 14:6 I AM the way, THE TRUTH,) whom the world cannot receive, .. for HE DEWLLETH WITH YOU, (present tense/standing next to them in the flesh) and SHALL BE IN YOU… (future tense “In them”) 18. I will not leave you comfortless: I WILL COME TO YOU (future tense “In them”) Note: The spirit of Christ is the sprit of God and the holy spirit that is why Christ said “I will come to you” (to comfort them, because Christ is the comforter). The spirit was standing next to them in flesh… ….latter it would come to them to be inside of them (inside of their flesh as the spirit we are given)…..that is why. he would send the spirit…… However, Jesus himself here makes the point that the same person who was the HOLY SPIRIT that would come was standing next to them but lets them know “I will come to you again to be Inside of you”

    NOTE: don’t be that one in prov 26:12 over my use of the word “fool” here prov 18:13 ( ) “But but, the gospel of John…the Gospel of John …look look…” which is quite ironic since the gospel of John does not leave ANY room for multiple different persons of Jesus and father. However the gospel of John does leave a few verses that facilitate God’s promise in 2 Thess 2:11/ Isaiah 66:4 (take note of “HAND” in verse 2,14..You just can’t make this stuff up…God is surely laughing at these fools; Ps 2:1&4)

    ……Mark 12:28…Which is the first commandment of all? 29. …Hear, O Israel; THE LORD OUR GOD IS ONE LORD: 30. And ………..this is the first commandment….. 31. And the second is…..

    TRINITARIANS CONFESS JESUS /THEY ARE NOT POLYTHEIST BUT ARE MONOTHEIST LIKE A LIAR & THIEF WHO “CONFESS” THEY DO NOT LIE OR STEAL The simple fact is that just because you confess or deny that you are in an adulterous relationship and denounce all forms of adultery has nothing to do with whether or not it is in fact adulterous! .. …A rose by any other name is still just a rose AND calling it a water lily does not change the definition of what a water Lilly or a rose is either!…No, Trinitarians confess & preach literally …”ANOTHER JESUS” 2 Cor 11:4

    - Like a thief in your house caught stealing your things insisting he was not there stealing “I CONFESS I am NOT stealing”. You just do not “properly understand” what he is doing/saying. Further, since you never had a “proper understanding” of what he is doing/saying you have no business accusing him since you do not even know what you are talking about in the first place. It is with and in your own ignorance that you base your “false accusations” & “ad homonym attacks” against him…… Ridiculous of course it is ……2Thess 2:11; Titus 1:16; 2Tim 3:5;

    - A Favorite tool for pathological liars is to use incongruent definitions or create oxymorons out of synonyms such as “a person” and “a being” so as to claim that your god is THREE DIFFERENT PERSONS but ONLY ONE BEING: Which is (1) no different then trying to claim that “THREE DIFFERENT CARS” is “THE ONE VEHICLE” (2) blatant demonstration of the dishonesty & sorcery these children of hell will employ with “a strait face” (which is in part what it means to be a pathological liar)
    ……but, ah i remember how this game is played… “God is three in one” (or 1in 3 or 3in one et al) should have given you a hint, harking back to Satan in The garden…God said you will die…Satan comes along and states no you will be more WISE……today .God said He is one; but Satan’s children come along and say no three is more WISE and humble in the face of God’s grandeur only “a mystery” that can be understood “in faith”. God uses head and right arm to explain the distinctions between father and son.. However, the Trinitarian heretics say to the effect: “NO, that is just a figure of speech, or that is not what God really means. What God is really saying is that God is three different persons”. Fools, hypocrites and blind guides, God said he was One and by your traditions and vain imaginations have taken the words of God and made them of no effect, refashioning God into your image!

    You can download the complete FREE book from

    #2 SECOND COMING Thou Fool! “I come quickly” so “Hold fast
    till i come”… NOT …“in another 2000 yrs I might be coming soon any time now, so hold fast”!?! …those that deny the second coming of Christ in the war of AD70 are practicing a damnable heresy in denying the lord that bought them ( 2Peter 2:1-2 ;2Tim 4:8/ you cant love an appearing you deny& the context is the 2nd coming not the first)… Mat 7:23..”I NEVER KNEW YOU” …..Mat 10:33. But whosoever shall deny me before men……..sound familiar?…. If I said I am coming to your house in this generation when these things happen but no one knows the day or hour what fool would think I might be coming in 2000 years latter!?!? ..2 Tim 4: 4. And
    they shall turn away their ears from the truth, and shall be TURNED UNTO FABLES.
    2Thess 2: 11. And for this cause God shall send them strong delusion, that they should believe a lie: 12. That they all might be damned who believed not the truth, but had pleasure in unrighteousness.



    #3 There is a sharp contrast between THREE groups :

    (1) “PREDESTINED DAMNED” who were NEVER written in the book of life ………..Rev 17: 8 WHOSE NAMES WERE NOT WRITTEN IN THE BOOK OF LIFE FROM THE FOUNDATION OF THE WORLD, …as contrasted …EPH 1: 4. According as he hath CHOSEN US in him BEFORE THE FOUNDATION OF THE WORLD

    (2) “MANY CALLED”= ONLY and ALL SAINTS (those who come to Christ) are written in the book of life … Philippians 4:3… ……Rev 21:27; (Only saints are Called and elect; Rom 1:6-7 et al) This is THE CHRUCH and ONLY these can have their names blotted out of the book of life ….….Heb 12:23 to the general assembly and CHURCH of the firstborn … WHICH ………are WRITTEN in heaven,

    (3) THE FEW CHOSEN: Those saints who were alive in group #2 who are now physically dead. They died “faithful” these are the FEW that were chosen faithful…….Rev 3:5. ……; and I
    will not BLOT OUT HIS NAME OUT OF THE BOOK OF LIFE, (Ps 69:28) …. These are the FEW that are CHOSEN and now that they have died and are saved then “once saved THEY CAN NEVER BE LOST”

    Predestination….its true..its all true…download here

  • Your knocking Trump, he is trying very hard to save this country. Are you kidding if Hellary had won the election we would be in war by now. Now that would have been a collapse…..

  • Gold and Silver are good, but they’re not investments unless you’re leveraging with them. They’re money.
    Just don’t buy any on eBay or other sites because there’s a LOT of fakes out there. Buy only from primary producers or mints.
    Rental real estate is better because prices fluctuate but rents do not.
    Just don’t be tempted to do something really stupid when interest rates rise because you can’t trust banks anymore. No government bonds either because all govermnents are bankrupt.
    The Euro IS backed by Gold but only 10% of nominal. Better: CHF backed 40% by Gold.
    Don’t be afraid to go into debt at a fixed rate provided you have real fungibles on hand to pay off said loans when the economy goes Weimar and the currency goes to wallpaper.
    Don’t be afraid to speculate either. I made about 27% on the RUR in the past 18 months.
    Next good speculation will be the CZK. Once they decouple it from the EUR it’s gonna go from 27 to as high as 12-15. It’s just fundamentals and PPP differentials.
    And stop looking at graphs. They’re meaningless.

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