Posts Categorized: Bill Holter

Posted by & filed under Bill Holter.

Dear CIGAs,

As a follow up from yesterday’s A Weekend’s Heads Up , my thoughts were truly an understatement for today’s action! The open was far weaker than I had anticipated, down 1,089 points. This was the biggest point drop in Dow history. The volatility was out of control with the VIX trading to 53, the highest since Feb. 2009! An illustration of how much and how fast the volatility was, total point movement in the first 90 minutes was 3,000 Dow points, 4,900 total for the day! Truly incredible!

So where do we go from here? Unless we get some sort of central bank news out of China, we open down again tomorrow and see if they can get a reversal going. We are well over sold and due a bounce …but ALL crashes have occurred from oversold readings. While talking to Jim after the close, he initially said “the PPT got their ass kicked today, it would not have happened if I was running their desk”. Let me explain this because it is SO IMPORTANT.

Today was all about credibility and confidence. “They” could not allow what actually happened because it showed weakness. Or better yet, it exposed their inability to hold it all together. Today was not about margin calls, Mom and Pop selling or even mutual fund/pension plans. No, you saw “algorithms” go wild today and it turned out the algos were bigger than the PPT. Huge mistake by the PPT because just as in a street fight, “weakness” provokes aggression and now the algos know how powerful their punch is! They could not let “it happen” …they did, HUGE MISTAKE!

After the close, the muppets at CNBC are already pleading for help from the Fed. Jim summed it up when he penned this:

“A market break like today (called recalibration by financial TV money bunnies) in which the PPT was defeated screams “ultimate deflation.”

The immediate implication of “Ultimate Deflation” among the unwashed and not knowing is bearish on gold.

The basis for our thesis on gold and major new highs in metals is “Ultimate Deflation” and how global central banks will react.”

For those who do not understand, the Fed (as I mentioned yesterday and previously) has a zero percent chance of raising rates and will in fact be forced into further QE. The “Ultimate Deflation” we are experiencing guarantees that central banks ALL OVER THE WORLD will be forced to print and debase furiously! It is not the current action that will kill you…it is the REACTION from the central banks!

Today was a “warning shot” to start, maybe even a shot INTO the bow as the close stunk up the joint. I still expect some sort of stabilization where investors (lead on by the CNBC muppets) will breathe a very short term sigh of relief. Whether this lasts only a day or two or several weeks, I have no idea. I would suggest that any stability should be used as an exit!

Speaking of “exits”, if I were the Chinese or other large holders of Treasuries, I would be using the current strength as my exit plan. Capital poured into Treasuries in a safe haven bid, I would use these bids and hit them with everything I had. In fact, I believe we may very soon see the day when the U.S. Treasury market gets hit hard along with stocks and the dollar. This will be your clue the “end” is quite imminent. WATCH TREASURY YIELDS, when they inexplicably begin to rise, understand what they are telling you!

Lastly, this is not about China, it is not a “correction”, it is not because of a “slowdown”. This is the beginning of the Great Credit Unwinding and will take EVERYTHING “credit” with it. Do you understand what “everything credit” actually is?

In today’s world, anything and everything financial (including real estate) is credit. EVERYTHING is now credit! By now I probably should not have to explain what is “not credit”. Simply put, “real physical gold and silver unencumbered”.

You will soon see this as the credibility of central banks will be called into question. The viability of derivatives will be called into question. The solvency of sovereigns (including the U.S. Treasury) will be called into question. The entire global fiat system will be called into question! The conversation may go something like this;

You have been weighed. You have been measured.

And you have absolutely…

Been found wanting!

Welcome to the New World. God save you, if it is right that he should do so.

It has been and is all about “confidence”. Confidence has been the ONLY thing holding the Ponzi scheme together. The PPT allowed confidence a very black and swollen eye today. Nothing “credit” on the planet will stand upon the knockout of confidence!

Standing watch,

Bill Holter
Holter-Sinclair collaboration
Comments welcome  bholter@hotmail.com

Posted by & filed under Bill Holter.

Dear CIGAs,

Friday’s action closed horribly in the U.S. with the Dow losing 530 for the day. This broke away from the support level of 17,200-17,300 which will now become overhead resistance. Global equity markets around the world are in crash mode as more than a dozen are already down 30-50% while the U.S. has just eclipsed the 10% correction zone. My guess is we will see a very weak opening with one or several rally attempts. An exhaustion bottom can be expected in the first half of the week with nervous strength later in the week. This scenario I believe is our best case.

No matter how the week plays out, the credit bubble has been identified, recognized and “pricked”, the equity markets are only a symptom. Do not be fooled by any strength this coming week, it should be used to raise cash. As September moves in, the September-October timeframe looks like a disaster. What may start out as circuit breakers being hit now, will ultimately be the plugs yanked out over the next couple of months. I believe a market closure is in our near term future.

As for gold and silver, these markets are both REALLY tight if you want the physical metal. If you are trading paper metal …oh well, can’t help you. This is the Great Credit Unwind and as such, currencies of all sorts (including the dollar) will take turns crashing. Watch the various sovereign treasury prices and yields (also CDS credit default swaps) as a clue to which country is experiencing an “attack du jour”.

The most likely US/Fed response will be some sort of QE whether they call it QE4 or not, who knows? The Fed will be forced again into further monetization, any talk of a rate hike from here is a complete joke. The real danger lies in what or how the world responds to another QE. Do they hit the Fed’s bid with full force? If I were a foreigner, I would certainly use the Fed as my “exit door” but this remains to be seen. Should foreign central banks (ie. China) sell into the Fed, game over and market closure could be quite rapid as in same or next day.

This is much speculation on my part as to “timing and how” this might all play out. The fact that credit is now unwinding means there is only one question of importance, “when”. Even this has become of less importance as “SOON” has jumped up as the answer. Gold and silver will be your only lifeboats as they are no one’s liability in a world where everything including the money in your pocket is someone else’s liability. IT’S OVER FOLKS! Please do not get caught up in what is mathematically coming!

Standing watch,

Bill Holter
Holter-Sinclair collaboration
bholter@hotmail.com

Posted by & filed under Bill Holter.

Dear CIGAs,

The following link is a very important interview done Friday morning well before the disastrous close.  Please listen and post or forward.  I will have comments posted late Sunday regarding what I expect this Monday and the week to bring.  The Great Credit Unwinding has begun!  There is precious little time for you to prepare and get done what you need to prior to a shutdown of the credit spigot.  Understand this and get cracking or don’t and sleep until you are rudely awakened!

Standing watch,
Bill Holter

Posted by & filed under Bill Holter.

Dear CIGAs,

Here we are six years after the “Great Financial Crisis”. Since then, every acronym in the book has been thrown at the economy and financial markets but to what end? The economy has gone nowhere over these six years, “recovery” has been the meme …but never “expansion”. Hasn’t anyone wondered about this? In the good old days we used to hear the word “expansion” for two or three years before the natural recession would roll through. This time we’ve heard nothing but recovery …year after year. “Hope” (which is the vestige of fools), year after year.

I wrote in 2008, “this is a crisis of ‘solvency’, more liquidity cannot turn bad loans into good ones”. Now, six years later it turns out this thought process was 100% correct. Other than financial assets being “saved”, all of the QE, all of the additional debt taken on by various sovereign treasuries has done nothing to the real economy of Main St.. The plan was to inflate asset values and this would spill onto Main St.. Even mainstream media when interviewing the talking heads of Wall St. and the liars out of Washington are questioning this. Heck, Peter Fisher (past chief of the plunge protection team Martin) this morning brought this up on his own. He said the policy of inflating assets has not worked and cannot work. The five plus year experiment has failed. One does not have to look far or even “into” the bogus reporting of unemployment to see what is happening. All you need to do is look at oil and Dr. copper. They are both crashing and now threating to break trend lines going back to the 1980’s.

In as few words as possible, we are witnessing a credit collapse. These two commodities (along with many others) are crashing NOT because currencies are so well foundationed or strong and “going up”. No, we are watching them crash because of shrinking demand. This is also confirmed by trade numbers (or lack of). We also see freight rates imploding all over the world due to the same lack of demand and trade. This should tell you something in very loud and very clear terms, the “reflation” efforts have failed miserably!

You don’t need to take my word, your own gut feel or even your very own eyes to know this. “They” have admitted it and we now even see stories going mainstream with titles such as “is the Fed out of bullets? and Fed loses its grip on debt” http://www.bloomberg.com/news/articles/2015-08-20/credit-traders-gird-for-the-worst-as-fed-loses-its-grip-on-debt. Just this week we have seen Alan Greenspan warn the “credit markets are in a bubble” http://www.marketwatch.com/story/greenspan-warns-about-bond-market-bubble-2015-08-19 . If that were not enough, the St. Louis Fed http://www.zerohedge.com/news/2015-08-19/after-6-years-qe-and-45-trillion-balance-sheet-st-louis-fed-admits-qe-was-mistake admits QE was a mistake and did nothing to help the economy.

In the case of Mr. Greenspan, he is simply trying to get on the record far enough to hopefully make historians forget he was the one driving the bus on the road to perdition. He is now on the record gold “is money” and a safe haven versus his precious product the dollar. Has he had some sort of come to Jesus moment? I believe no, not even possible as he’s known all along how money works and where he was driving the bus. His days with Ayn Rand were filled with quotes and writings which sounded much like today’s tin foil hat society! He knew then, he knows now and will know until his last breath, the end of the credit road is in sight. His own “legacy” and nothing else is his concern.

The St. Louis Fed is known as the “teaching” district. Their recent admission QE was a mistake is a little different than Alan Greenspan trying to get on the record. I’m not really sure what their motive is for telling the truth? It certainly does not aid their cause because they are admitting failure.

We stand on the cusp of a credit meltdown. Never mind the stock markets or the commodity markets, they are simply “symptoms” of a credit bubble going bust. The talk of “will the Fed tighten” in Sept. (or EVER again) is hilarious! The Fed will be forced to implement another round of QE no matter what the acronym or name. More QE will do what more QE has already done, simply pile more debt on top of already TOO MUCH DEBT! There are no possible fixes left, the CREDIT CRISIS has arrived. No way to reflate and no way to actually “pay” (settle) on the debt. Central banks all over the world are now beginning to act in their own best interests, it’s like the sharks are eating the sharks.

The credit BUST is here! Markets all over the world are crashing and the U.S. is now losing control. After breaking down yesterday, today looks to be another bad day. If the PPT cannot get any traction today, Monday could be a disaster. I even question whether markets remain open at some point because closure will be the ONLY way to stop the selling which will be forced (by margin calls) in nearly all markets. This is not fear mongering, it is now math. We live in a make believe world created by the illusion that “credit” is a strong foundation, it cannot be. Bad credits cannot be made good by those with too much debt. This is exactly what has been attempted by the largest debtor on the planet. The failure will be spectacular. All money today is nothing more than credit … credit IS the problem!

It is imperative you understand how this will go down. You must have exactly what you think you’ll need and what you want to own going into this. You will have no opportunity to change horses when the markets close. Bluntly, it’s not the closure of markets that will kill you …it will be the reopening!

Standing watch,

Bill Holter
Holter-Sinclair collaboration
Comments welcome! bholter@hotmail.com

Posted by & filed under Bill Holter, In The News.

Bill Holter: Chinese Join Currency War & Gold Backwardation is Back!
by Collin Kettell on August 19, 2015

Did China just join the currency war? What will the world look like in 6 months? Bill Holter questions what will even be left…

Bill Holter writes and is partnered with Jim Sinclair at the newly formed Holter/Sinclair collaboration. Prior, he wrote for Miles Franklin from 2012-15. Bill worked as a retail stockbroker for 23 years, including 12 as a branch manager at A.G. Edwards. He left Wall Street in late 2006 to avoid potential liabilities related to management of paper assets. In retirement he and his family moved to Costa Rica where he lived until 2011 when he moved back to the United States. Bill was a well-known contributor to the Gold Anti-Trust Action Committee (GATA) commentaries from 2007-present.

Takeaways from this week’s interview –
• A devalued Yuan makes it almost impossible for the Fed to raise rates and Bill will be shocked if they do!
• The Chinese just reported a stockpile of over 1,800 tons of gold, but Bill isn’t buying it. So how much do they have?
• How the dollar becoming strong, may actually kill the dollar?
• Gold is back in backwardation, indicating a rising level of global fear
• An update on Ukraine and Greece

More…

 

Bill Holter: Chinese Join Currency War & Gold Backwardation is Back!
by Collin Kettell on August 19, 2015

Did China just join the currency war? What will the world look like in 6 months? Bill Holter questions what will even be left…

http://www.youtube.com/watch?v=kh58Tfs931U

Bill Holter writes and is partnered with Jim Sinclair at the newly formed Holter/Sinclair collaboration. Prior, he wrote for Miles Franklin from 2012-15. Bill worked as a retail stockbroker for 23 years, including 12 as a branch manager at A.G. Edwards. He left Wall Street in late 2006 to avoid potential liabilities related to management of paper assets. In retirement he and his family moved to Costa Rica where he lived until 2011 when he moved back to the United States. Bill was a well-known contributor to the Gold Anti-Trust Action Committee (GATA) commentaries from 2007-present.

Takeaways from this week’s interview –
• A devalued Yuan makes it almost impossible for the Fed to raise rates and Bill will be shocked if they do!
• The Chinese just reported a stockpile of over 1,800 tons of gold, but Bill isn’t buying it. So how much do they have?
• How the dollar becoming strong, may actually kill the dollar?
• Gold is back in backwardation, indicating a rising level of global fear
• An update on Ukraine and Greece

More…

 

US Dollar Flash Crash Sparks Precious Metals Surge
Submitted by Tyler Durden on 08/19/2015 09:58 -0400

After yesterday’s slamming efforts, precious metals are well bid this morning following the USD flash crash this morning. Silver has regained yesterday’s losses and gold is hitting one month highs…

Silver is testing its 50DMA – recovering from yesterday’s dump…

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And gold is testing 1-month highs…

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It is worth noting that this is happening as The US Dollar is rallying…

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Close up right as CPI hit…

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And gold is testing 1-month highs…

More…

 

Away From Dollar: Russia, China to Create Entirely Different Gold Market
18:41 16.08.2015(updated 18:42 16.08.2015)

While key Western banks are artificially restraining gold prices to breathe life into the diluted and devalued dollar system, Russia, China and other emerging economies are involved in “the genial move” to establish an entirely different gold market, F. William Engdahl underscores.

Key central banks, particularly the Federal Reserve and Bank of England, and Western market players have long been accused of clandestine gold price manipulating aimed at preserving the dollar’s role “as world reserve currency primus,” American-German economic researcher and historian F. William Engdahl writes.

“The COMEX gold futures market in New York and the Over-the-Counter (OTC) trades cleared through the London Bullion Market Association do set prices which are followed most widely in the world. They are also markets dominated by a handful of huge players, the six London Bullion Market Association gold clearing banks — the corrupt JP MorganChase bank; the scandal-ridden UBS bank of Zurich; The Bank of Nova Scotia — ScotiaMocatta, the world’s oldest bullion bank which began as banker to the British East India Company, the group that ran the China Opium Wars; the scandal-ridden Deutsche Bank; the scandal-ridden Barclays Bank of London; HSBC of London, the house bank of the Mexican drug cartels; and the scandal and fraud-ridden Societe Generale of Paris,” Engdahl narrated.

Furthermore, Western banks are issuing numerous paper “gold-futures” and other speculative contracts which are in fact disconnected from real physical gold.

In a word, operations with the precious metal in London and New York are in questionable hands, the economic researcher noted.

The West’s ultimate goal is to preserve the dollar’s monopoly in the market thus breathing life into the US-led global financial system. But no one likes monopolists.

Predictably, the current state of affairs cannot satisfy rising economies, such as China, Russia and other emerging powers.

However, “[r]ather than scream and cry ‘fraud’ at the owners of the COMEX/CME or the London Bullion Market Association Big Six clearing banks, these countries are involved in the genial move to create an entirely different gold market, one that not JP MorganChase or HSBC or Deutsche Bank control, but one that China, Russia and others of a like mind control,” Engdahl stressed.

More…

Posted by & filed under Bill Holter.

Dear CIGAs,

In the past, the topic of “backwardation” has come up and I’ve tried to write about and simplify understanding it. We now have backwardation deeper and further out than anything we’ve seen in the past so it’s time again to visit this anomaly.

What is “backwardation”. This is a situation in the futures markets where a product or contract’s spot (current) price is higher than a future price (ie next month, 6 months or even 1 year in the future). First, backwardation is very possible in many different commodities simply because of the timing of harvests for example in agriculture products. For example, it makes sense a bushel of wheat might be more expensive in the middle of February as opposed to July-Sept. because this is when (in the U.S.) the harvest is done and the product is more plentiful. If the supply is more plentiful, it follows (in the “old normal”) that price should be softer. Also, some sort of natural event can occur such as floods, drought, wildfires etc. which impact harvest or current supply. In this instance, backwardation is perfectly normal and logical.

In gold and silver however, backwardation should never happen, not for one second or even one penny. This is because gold and silver are produced around the globe 24/7, it is not a seasonal business in other words. Also, there is “theoretically always” above ground stock (vaulted metal ect.) to meet demand. Gold nor silver should ever be worth more today than it is worth contractually a month from now. This is so because the metal can be lent out and interest earned. If current gold is worth more than future delivery, this would mean a lender of gold would be required to “pay interest” to the borrower. This is the equivalent of having negative interest rates and makes no sense no matter how you look at (unless you are a panicky central banker).

The current situation as of last night on the COMEX looks like this;

Closing prices today; 8-17-15

August; $1,112.90
Sept & Oct; $1,112.40
Dec; $1,112.70

As you can see, August gold is .50 cents more expensive than both September and October. It is also more expensive than December. The ONLY EXPLANATION can be one of two possibilities. First, traders may fear a breakdown of the rule of law. They fear they will not receive their contractually guaranteed delivery of metal in the future. Call this “a bird in the hand” syndrome. The other explanation is gold supply may be very tight and simply does not exist for current delivery. Thus, “current” gold is worth more than future gold because it is needed now, right now! Some traders may say “current prices are higher than future prices because market participants believe gold or silver will ‘go down’ so traders are just positioning themselves”. To this I say HOGWASH, traders would either sell the spot or go short, “contango” (higher future prices) must ALWAYS exist in gold because it is “money” and as such can be lent for interest.

The above example displays what is happening on the COMEX. If we look to London, the last I heard, current gold is $7.00 above the next future month. In other words, a trader could “pocket” this $7.00 per ounce “guaranteed”. If this return is guaranteed, in today’s almost 0% interest rate environment, why wouldn’t the “profit” get locked in and taken via arbitrage? Please don’t tell me there is not enough money as traders will slit each others’ throats for single pennies! Arbitrage being … sell the spot price higher than the future price (sell high, buy lower) for PROFIT? Again, the answer I believe can only be because gold is either in short supply or traders are afraid of not receiving future delivery. Arbitrage is not rocket science and has been done since the beginning of markets, in fact, in today’s instant information age any “free money” like these trades should be scooped up before you can blink your eye …but they are not!

We have looked at the situation of “waterfall” action in gold and silver many times over the last 2+ years. How is it possible that “price” can go lower if the metal is in short supply? If everyone “sold” and panicked as the charts depict, shouldn’t gold and silver be spilling out of warehouses and vault …and on to the streets? Currently a very severe shortage exists in silver for current delivery (and has for several weeks), how is it possible if silver is scarce …owners of said silver are trampling over each other to sell it?

The answer of course is what we have told you all along, the paper COMEX and LBMA markets have zero relationship to supply and demand in the real world. In fact, if you want to “sell” paper gold or silver, all you need are “dollars” to post as “margin”. This farce may be coming to head. Last month, “buyers” of real silver actually stood up and jumped in line to have July silver delivered to them. This month, there are currently just over 15 tons of registered gold available for delivery yet over 18 tons are standing. Will the 18 tons shrink? Will the 15 tons be added to? In the past this situation has worked out by month end. Sooner or later it will not “work out”. This paper game is becoming ridiculously small in relation to the overall system. The entire amount of gold available for delivery adds up to less than $500 million (lower case “m”) while the system as a whole is dealing in the multi $ Trillions!

Something is very wrong. I was told years ago by a “famous” trader I was nuts regarding backwardation. He told me it didn’t exist on COMEX and LBMA didn’t matter. What possible explanation can be given for the current situation on COMEX (which supposedly “does matter”) where backwardation clearly exists from the August contract all the way out to December? I would love to hear theories on how the current backwardation is “normal” and or “it doesn’t matter”??? I assure you it does matter and should not be ignored!

Standing watch,

Bill Holter
Holter-Sinclair collaboration
Comments welcome bholter@hotmail.com

Posted by & filed under Bill Holter.

Dear CIGAs,

Thank you everyone for your responses to yesterday’s article, there were well over 500 to which Jim and I have responded to. I spoke this morning with a nuclear physicist to get her opinion which follows;

“Bill, the blast is hard to see because a text box is right over the explosion on my screen. In my opinion, from what I can see, the blast does not look nuclear. It resembles more an explosion of a large fuel/oil storage tank, as would be found at a port. Also, there is no info in English on how far the filmers were from the blast, which would help in scale.”

Of the many comments received, the most common was “fuel ordinance”. I try always to be accurate and get to the truth which is why we went to the source of a scientist. I now believe the explosion was in fact some sort of fuel or chemical, most common thought amongst comments was LNG (liquid natural gas). Whether the explosion was or was not an accident may never be known. Accidents do happen, the “timing” of this accident does add the flavor of curiosity.

Standing watch,
Bill

Posted by & filed under Bill Holter.

Dear CIGAs,

The question of our title is very important, “Did the FINAL WAR just start?”.  If you polled Americans on this question, 99.9% would answer “no” if you took out the Middle East.  Last week I wrote “The Rumblings of War” regarding the IMF rebuffing China’s entry into the SDR.  This was followed up by “The shot heard ’round the world” on Tuesday commenting on China’s surprise devaluation.  The purpose of this writing is to show you YES, we are in fact at war!  Rather than “tell” you we are at war, I feel it is better to point out a few dots, connect some of them and then ask a few questions which might help you understand the war that is in fact being waged.  If you can answer some of the questions then connecting dots and forming your own conclusions will be easier.

As our backdrop, we are “told” the world is in recovery from the very bad experience of 2008.  Since then, various central banks have monetized debt on a massive scale, led by the Federal Reserve of the U.S..  Undoubtedly, the greatest “export” from the U.S. has been dollars themselves and financial products known as derivatives.  For the most part, the world spun merrily until last fall when Saudi Arabia decided to increase production and lower prices.  This was presumably done at the request of the U.S. and meant as a tool to injure Russia’s energy sector, economy and financial system.  Can the petrodollar which became accustomed to $100 oil be supported with sub $50 oil?  There are two sides to this coin, yes the consumer of oil saves but doesn’t lower oil price mean less liquidity in the system?  Doesn’t it mean lower velocity and less demand for dollars?

Moving along, did anyone really wonder “why” or what (or better yet, WHO) was behind China being put off for acceptance as a component of the SDR?  Then just two trading days later, China devalued their currency in a surprise move…followed by two more devaluations!  Remember, the U.S. has been prodding China to strengthen their currency and has gone so far as to call them a “currency manipulator”!  Now we see China doing the exact opposite of U.S. requests (demands?).  World markets have been shaken, and at a time when liquidity is quite tight.

A stronger dollar since last fall has acted as a constant and nagging “margin call” to the world which has contributed to the lack of liquidity.  Have the Chinese finally said “fine, you want to issue a margin call to the world, we will help you issue it.  Let’s see what happens to your financial system when the margin call fails to be met?”.  Do you see what I am getting at here?  The Chinese are now forcing the dollar higher by devaluing their own currency.  They understand the dollar is nothing more than a debt instrument, are they attacking and intending to destroy the dollar with its own strength?

Follow this through, a stronger dollar will decrease our exports and slow our already slow or negative economy. A too strong dollar can actually undermine itself and even kick off a derivatives chain explosion. Our banks and brokers are very thinly capitalized, can they withstand losses in derivatives caused by a currency crisis?  Can they withstand the losses from failed counterparties unable to pay?  Do you see?  A currency crisis “caused” by China could be a calamity.  China has already accused Citadel (Ben Bernanke’s new employer) of creating the crash in their equity markets, is a currency crisis retaliation for their equity crash and public shaming by the IMF?  If you understand how the Chinese think and also understand the works of Sun Tzu, Jim and I ask if China’s strategy is …  “In order to destroy the dollar permanently make it stronger temporarily.”? 

Another area to look at is gold and silver.  Supplies have recently gotten very tight, not just for retail in the U.S. but all over the world.  Has production slowed or have buyers stepped up their hoarding?  Or, have Western central banks reduced their “dis hoarding”?  Whatever it is, something in the supply/demand dynamics has definitely changed …and it has not taken much money to do it!  Are these separate events or are they tied together somehow?

This is where it gets weird or some might say “coincidental”.  Did anyone see the explosion at the Chinese port city of Tianjin yesterday?  https://www.youtube.com/watch?v=_92WaPxeqCs  “Yesterday” being one day after China devalued their currency?  I am no rocket scientist and cannot say for sure, but does this not look like a nuclear explosion?  Can someone out there explain to me in simple terms how a chemical explosion could look like this?  As for the word “coincidence”, the CIA says there is no such thing as a coincidence!

Speaking of coincidences and I have permission to pass this along to you.  Jim Sinclair wrote just a few days ago for the first time in many a moon, he said “gold has very limited downside from here and could move to $2,000 as an initial stop”.  Do you believe it was a coincidence that he speaks now?  No, he was called and was “told” by the same people who guided him in 1980 at the market top.  Do you believe it was a coincidence following Jim’s writing, the IMF shunned China followed by the shot heard ’round the world of a yuan devaluation …three times?!!!  …not to mention an explosion that could be seen from space!  My mind is made up, no it is not any coincidence at all. 

or months I have been suggesting Mr. Putin would drop a “truth bomb” revealing all sorts of false flag events and fraud perpetrated by the U.S..  I still believe this is to come and now even more likely.  Why more likely?  Because the financial sparring between East and West may have taken a very serious turn yesterday and I seriously believe a tactical nuke was set off.  If this is the case, China will provide proof and they will retaliate.  I believe the smoldering stages of what was a financial/technological/trade war have now become hot and the first shot was fired.  I truly do ask for comments regarding what happened in Tianjin.  Please do not send me opinions, I would like to hear exactly why or why not the explosion was nuclear.  I will believe a tactical nuke until someone proves to me it was not.  May God help us all with what comes!

Standing Watch,

Bill Holter
Holter-Sinclair collaboration
Comments welcome!
bholter@Hotmail.com